Enforcing government regulations

[TheUltraElite]

The government will not make a regulation without a study, so when we support bitcoin to be legalized, we must give our study which will later be restated by the government of a country. the process is complicated because all regulations are not made at will because they can affect a country

That does not sound like a bad approach. They can study and see how much of the economy is in crypto and with that data they can decide on how to deal with crypto for future in a way that is fruitful for both the crypto users and the exchanges. But that also means that government has to keep an eye on transactions going through and enforce KYC on these exchanges.

However if you trust your country's government and willing to get KYC then you should be fine with trading unless you are doing something shady with your money.

We are still a long way from purely decentralized systems. Just one payment mode being so does not make the others change.

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[Ucy]

Governments can issue regulations as they please. No doubt about it.
The promise of Bitcoin was to leave governments unable to enforce any kind of regulations using technology and decentralization.
The problem with that promise is that it is enormously expensive for consumers to run Bitcoin nodes. Therefore everyone uses third parties, there's not that many of them and there's absolutely no way for them to stay resistent to regulations.

So as I see it, there was a time when governments couldn't enforce their regulations to decentralized currency. Now they can.

What do you think? Is the Bitcoin promise broken?

If running nodes is expensive, I guess the best way to encourage more people to run their own nodes is through incentives. Incentive doesn't necessarily has to be monetary... Maybe valuable Points can awarded regularly.
If running of nodes is very important, people could be rewarded for having them online 24/7

[X-ray]

Well, the government can always regulate internet and electricity. It can switch off internet and also cut electricity thereby controlling Bitcoin in a sense. But it's just surface controlling, it can't control the internal system, and can't manipulate, create fake coins or stop or reverse a transaction.

Turning off internet is basically isolating their own country from the flow of information and if there's a country do that it's NK and their higher ups are still connected to the internet. even if they intend to enforce law, shutting off internet is simply stupidity and none of country with the right logic would do that.

[Slow death]

The promise of Bitcoin was to leave governments unable to enforce any kind of regulations using technology and decentralization.

no offense, but I've always looked at two advantages of using bitcoin, and those two advantages in my opinion are:

1 -) Cheap transaction fee

2 -) have private key control

Now the fight against governments if it's really objective (I don't know about that), then it's a futile fight because governments can arrest anyone who uses bitcoin if they want to.

What do you think? Is the Bitcoin promise broken?

When you open a bank account, who controls your money? The bank controls your money, which means you have to ask permission from the bank in case you want to withdraw a lot of money or the government can freeze your bank account if  they want.

When you have bitcoins in your wallet you have control over your money as long as you have private key.

So I think bitcoin is doing its job very well

[HarmonyA]

Governments can issue regulations as they please. No doubt about it.
The promise of Bitcoin was to leave governments unable to enforce any kind of regulations using technology and decentralization.
The problem with that promise is that it is enormously expensive for consumers to run Bitcoin nodes. Therefore everyone uses third parties, there's not that many of them and there's absolutely no way for them to stay resistent to regulations.

So as I see it, there was a time when governments couldn't enforce their regulations to decentralized currency. Now they can.

What do you think? Is the Bitcoin promise broken?

Regulations are enforced by government,  despite the decentralization proposal of bitcoin,  that doesn't make it  above government regulations.
Bitcoin promise is not fully broken except in cases where government are strictly against it striving.
No matter how we claim to be decentralized system,  we uses a high percentage of centralized exchanges.  So how centralized is bitcoin?

[meanwords]

The only thing they can put regulations on are third-parties you are mentioning on. There will come a time where Bitcoin will become so expensive that the price of fee would be viable. In that time, the promise of Bitcoin would true. But this is pipe dream for now. We really need regulation to avoid so much frauds and money laundering happening left or right. Without that, a lot of people would be a victim. 

[X-ray]

The only thing they can put regulations on are third-parties you are mentioning on. There will come a time where Bitcoin will become so expensive that the price of fee would be viable. In that time, the promise of Bitcoin would true. But this is pipe dream for now. We really need regulation to avoid so much frauds and money laundering happening left or right. Without that, a lot of people would be a victim. 

Third party or even government themselves could only regulate centralizd services like exchange and so on. They couldn't do things more than that because they simply have no authority over it and to take control of these whole decentralized market is kinda hard even though having control over some famed exchanges is already giving significant effect to the whole market. If there's any 3rd party out there could enforce regulation to a decentralized currency like crypto. I'm sure they have tremendous resources to back them up.

[whyrqa]

The only thing they can put regulations on are third-parties you are mentioning on. There will come a time where Bitcoin will become so expensive that the price of fee would be viable. In that time, the promise of Bitcoin would true. But this is pipe dream for now. We really need regulation to avoid so much frauds and money laundering happening left or right. Without that, a lot of people would be a victim. 

In any case, no one will be able to control the owner of the bitcoin if the owner wants to hide his ownership of the cryptocurrency.  But if this Bitcoin is traded on the exchange or some things are bought using Bitcoin, then an anonymous person will become famous in any case.  In this way, the government will control the use of cryptocurrency and collect taxes, because no user will store Bitcoin just to save it.

[Meowth05]

the government cannot enforce these rules fully, but they can limit or narrow the circulation of bitcoin in that country, for example the government will give heavy sanctions to bitcoin holders, of course people will think twice when they want to have bitcoin in the country.

Exactly, we have the same thoughts. Government cannot fully control the utilization of Bitcoins and other cryptocurrencies but they can narrow it down by just putting a prohibition upon any transaction related with Crypto or probably they have exterminate the crypto trading platforms.

[arimamib]

the government cannot enforce these rules fully, but they can limit or narrow the circulation of bitcoin in that country, for example the government will give heavy sanctions to bitcoin holders, of course people will think twice when they want to have bitcoin in the country.

Exactly, we have the same thoughts. Government cannot fully control the utilization of Bitcoins and other cryptocurrencies but they can narrow it down by just putting a prohibition upon any transaction related with Crypto or probably they have exterminate the crypto trading platforms.

I also believe with this, that the government will not be able to do a full ban, they can only narrow the circulation of bitcoin in the country. but fortunately in my country there is no article about imprisonment if you use bitcoin, but if the case is fraud then there will be penalties

[eaLiTy]

The only thing they can put regulations on are third-parties you are mentioning on.

You need the help of third parties like exchanges to purchase and sell BTCitcoin and if the government will come up with regulations then we might not see these frauds happening in the market.

There will come a time where Bitcoin will become so expensive that the price of fee would be viable. In that time, the promise of Bitcoin would true. But this is pipe dream for now.

I did not understand the logic behind it, how will the promise of BTCitcoin be true when the price rises, with the present situation if the price rises then the transaction fee also rises.

We really need regulation to avoid so much frauds and money laundering happening left or right. Without that, a lot of people would be a victim. 

There is no doubt we need strict regulations to collect funds in the name of experimental projects and all the projects that are collecting money should be monitored about the progress they are doing and that will force the scammers out of this market.

[julius caesar]

Governments can issue regulations as they please. No doubt about it.
The promise of Bitcoin was to leave governments unable to enforce any kind of regulations using technology and decentralization.
The problem with that promise is that it is enormously expensive for consumers to run Bitcoin nodes. Therefore everyone uses third parties, there's not that many of them and there's absolutely no way for them to stay resistent to regulations.

So as I see it, there was a time when governments couldn't enforce their regulations to decentralized currency. Now they can.

What do you think? Is the Bitcoin promise broken?

Any government on different countries has the power to ban or stop the regulation of bitcoin. But bitcoin has the power to bypass those rules that is why some other countries can't completely stop the bitcoin in terms of doing transaction. What government can do is that put some fine when someone uses bitcoin in their country. But for sure, bitcoin will bypass it again since it is hard to trace.

[proxydomain711]

Replying to OP - I don't think any promises has been made. It just originally aims to provide a platform to send funds without limitations and an alternative mode of transfer of funds.

You must sacrifice one for another. You want more security in times of theft? Then subject yourself to regulation to implement KYC on all exchanges, to make it easier to crack down on who stole ones Bitcoins and therefore, can't convert it to fiat.

You want anonymity in the platform? Then forget regulation, but be wary of your every action. Once sent, it can't be retrieved. A feature exploited by thieves.