Regulation possible? Regulation Inevitable?

[thewarriorofthelight]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?
How can we defend Bitcoin against it?

[1714668324]

1714668324

[1714668324]

1714668324

[mk4]

But will enough people have adapted to this mainstream by then?

Probably. Time will tell.

Is this possible?

If bitcoin gets to full mainstream then it's going to have a huge slap in the fact to the central banks. It's pretty much inevitable.

How can we defend Bitcoin against it?

You use and hold it regardless. Hopefully by then bitcoin would have more privacy features to help non-techie people achieve more privacy.

[mikeauerbach]

Regulation is inevitable. Right now most centralized exchanges don't  serve unverified customers. We have to deal with KYC and AML rules.

[Charles-Tim]

What I believe is that people that know about bitcoin very well and how it works will not be affected much, they can still have means of practicing noncustodial holding, having their private keys, using CoinJoin for making transactions very impossible to track, how about using mixers in a way transactions can not be tracked and so on. People will still be able to buy and sell through some non-kyc exchanges and platforms. But, the issue is that most people privacy will be compromised by government laws and regulations while most people do not even bother by the laws and willing to give kyc to the custodial services they keep bitcoin with, because of peoples ignorance, there is nothing that can be done, governments will compromise people's privacy while peoples ignorant nature will not let them know and thinking governments ate right about this.

[pooya87]

when bitcoin reaches mass adoption you no longer need to exchange it for fiat, it is already a currency and by then it will be used by majority (by the masses) so you simply use it as you would any other currency without needing to swap it with another one.

as for regulation, you are confusing it with banning. they are very different things. i don't think bitcoin will ever be banned by any more than 1% of the world (just as it is now). but it will be accepted as a legal way of payment just as many countries have already done it. that means regulations as there are regulations for fiat.

[Serious475]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?
How can we defend Bitcoin against it?

This regulation is what we called mass adoption and all of us are waiting for this time to happen because if this happens, crypto users will be earning more than what they are earning right now and it is really good for us. It will also allow all the people around the world to use crypto currency including those who aren't allowed. I hope that mass adoption occurs earlier than what we have expected so that no one can stop improvement of each country. I hope that all of us gets responsible when the time comes.

[covfefe_]

Governments and through a global initiative may regulating cashing in and cashing out from bitcoin. They may force exchange to collect and provide personal info of anyone buying, depositing or withdrawing. But they'd not be able to regulate bitcoin network or bitcoin transactions. They can't track and associate every bitcoin transaction to individuals. So, if people trade goods or services exclusively on bitcoin, the government or any central agency may not get involved.

[davis196]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?
How can we defend Bitcoin against it?

Dude,you are answering your own question.Of course that Bitcoin regulation is inevitable and we have to deal with it.I think that Bitcoin(and all the altcoins) is already heavily regulated without even being mainstream.
Unfortunately this is the price we have to pay,in order to see worldwide Bitcoin domination.Many Bitcoin supporters won't be happy and I completely understand them.
Maybe going mainstream won't be the right path for Bitcoin,because the regulations might turn the crypto exchange platforms into "cryptocurrency banks" which represents all that we have been fighting against.
I mean that banks are bad.It doesn't matter if they are fiat banks or cryptocurrency banks.

[Oshosondy]

when bitcoin reaches mass adoption you no longer need to exchange it for fiat, it is already a currency and by then it will be used by majority (by the masses) so you simply use it as you would any other currency without needing to swap it with another one.

This is a good point, the problem we are still facing now is that people still depend on fiats to convert to in order to spend bitcoin, but with mass adoption, if we can be able to exchange bitcoin for bitcoin directly, that means there can be increase in privacy because many people will do away with using fiats and be avoiding KYC. With time, this will become achievable.

[Yogee]

when bitcoin reaches mass adoption you no longer need to exchange it for fiat, it is already a currency and by then it will be used by majority (by the masses) so you simply use it as you would any other currency without needing to swap it with another one.

This is a good point, the problem we are still facing now is that people still depend on fiats to convert to in order to spend bitcoin, but with mass adoption, if we can be able to exchange bitcoin for bitcoin directly, that means there can be increase in privacy because many people will do away with using fiats and be avoiding KYC. With time, this will become achievable.

The bigger problems are people do not use platforms where they can spend bitcoin directly and there are more speculators than actual users.

Governments granting legal tender status to bitcoin may or may never happen at all as some countries are already working with their own version of digital currencies [CBDC]. I wouldn't be surprised if BTC can be directly traded with or convert to CBDCs instead of USDT or other stable coins.

[Kakmakr]

Why do you need to defend Bitcoin against it.. ?

We all know governments are in control of every aspect of our lives, because we give them the power with our votes. If you live in a country, where you have a free and democratic election process, then you should vote for the party that would support Bitcoin as a currency.

Regulations can only regulate "legal" use of Crypto currencies... it will try to stop the "illegal" use.. but it will not be able to stop it. Place yourself in a governments shoes and see if you would allow unregulated Crypto currency use in your country.   (Doing that effectively give criminals a tool to avoid taxes and to commit serious crimes)

[crwth]

If there are more people involved, it would even be more inevitable. I know it's not the ideal position for Bitcoin, but I think it's necessary to protect everyone from unwanted scamming. That's probably their main concern.

If you are concerned with that, make sure you don't re-use addresses. With that, you could be more private with your transaction, etc.

[ekmsh]

    
Regulation possible? Regulation Inevitable? ...these are those phrases which strike hard in every bitcoin lover's head. Yeah I support btc regulation but on the other hand I know this subject is not so simple. and on other hand I think BTC is now in the stage where it can defend itself. Day by day btc is getting more and more adaption and as usual we know Bitcoin always strikes back.

[ChrisPop]

I think 10 years should be plenty of time for people to get familiar with Bitcoin and begin using it on day-to-day transactions.

Some kind of regulations will be set in place for sure, but it will be hard for all the countries to get in a common ground. So there will be loopholes for sure. But again, Bitcoin is offers a good anonimity, I'm sure there will be well-developed DEXes until then so we won't depend on a centralized exchange to trade.

[lovesmayfamilis]

Already today, with PayPal accepting Bitcoin, the authorities are trying to regulate Bitcoin. What does it mean? The purchase will not be anonymous, since the system has all the details of PayPal customers.
But full regulation of Bitcoin, I think, will be difficult to implement. Because real crypto enthusiasts preach the goal of decentralization. And, so I hope that in the future there will be some kind of golden mean between Bitcoin and regulators for its full implementation.

[sunsilk]

Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?

This is already happening for some countries. We can't help them as it's the government who has declared this kind of ruling for bitcoin. But for the citizens who have been bitcoin supporters and investors, they have other means of transacting.

How can we defend Bitcoin against it?

No need to defend bitcoin. They'll eventually lift those bans and will accept the fact that they can no longer ignore bitcoin. Just look with the good news that are popping recently.

[avikz]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?
How can we defend Bitcoin against it?

I wouldn't see a blanket ban is forthcoming on bitcoin by international regulatory bodies like IMF or World Bank. However, regulation is inevitable! It may not happen in 1-2 years timeframe but eventually it will come our way if we really want to see bitcoin as a mainstream currency!

I am not sure why a defed is needed anyhow because that's what we all want to see, right?? If regulation isn't here, then bitcoin will never become a mainstream currency!

[20kevin20]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

All I'm hoping for is that the "knowledge about Bitcoin" will be legit information, and not the reputation and knowledge masses currently have about BTC thanks to the MSM staining it constantly. If we're only 10 years from mainstream knowledge, then things are going to go insanely well. One thing I don't think will happen is your second question tho. Laziness is too much of a trend today to care about learning how Bitcoin works and how to protect yourself from Surveillance States desperately attempting to invade your privacy.

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

There is never going to be regulation under Bitcoin's network, so you could basically transact at any given time even if it's illegal in your country - under your own risk, obviously. One thing I'm particularly afraid of is that unknown addresses will be flagged and as soon as the link of unknown coin owners get their identity exposed, they'll be questioned for everything they've done over the network with harsh penalties.

Something like - your coins come from a source unknown to authorities? You're suspicious. To some, it may sound like dictatorship or something not so far from Orwell's vision. I personally think it's just a few steps away from reality. We're already living in a Surveillance State - the BTC and criminal activity will be a continuous excuse that'll never end until they get their plan to succeed.

How can we defend Bitcoin against it?

I don't think so. The only thing I can think of is providing Bitcoin privacy-focused updates - but I am afraid this will push it into bans and rejection. This is double-edged: while it lets us, "the Internet Rebels", continue Satoshi's vision of a decentralized mean of exchange, Bitcoin would go into the underground markets in those countries where it'd get banned - increasing the illegal usage substantially.

We're quite close to the hard regulation of cryptocurrencies. Let's just hope it's going to be a fair regulation, and not something worse than the KYC nightmare.

[chaoscoinz]

In 10 years, knowledge about Bitcoin will be mainstream.
But will enough people have adapted to this mainstream by then?

Once it has become mainstream, a group of countries - or even the IMF itself - could regulate all access to Bitcoin. Tracking coins and banning the sale of coins for fiat by exchanges if they come from certain regions ( exchanges, wallet suppliers). Illegalization of the exchange of Fiat for Bitcoin, with the regulation again targeting exchanges as entry points.

This regulates Bitcoin itself.

Is this possible?
How can we defend Bitcoin against it?

Regulation is inevitable , without it the institutional investors will leave, the banks will move against it, and the price will fall significantly as people are unable to cash out all at once. I believe that the more regulation that we have, the higher the price will continue to steadily move. The all time high of $20,000 a Bitcoin was super inflated, and unrealistic and was bound to deflate eventually.
The goal is to possible meet the governing bodies that regulate cryptocurrency somewhere within the middle,so that too much regulation doesn't stifle the growth of creativity and freedom within the sector. Decentralization must be balanced with centralization, or one will certainly negatively effect the other. It's like the yin and yang of tao, one always effects the other, not equal by themselves but they complement each others imperfections when they team up.
  Freedom without order is anarchy, as is order without freedom is tyranny, when the two become one, this is the way. . .  

"To infinity and beyond" quote by:buzz lightyear

[Wexnident]

Adoption is only a matter of time as long as Bitcoin continues this kind of progress. The time it takes for the entire world to actually adopt it though, is still quite unknown. As for regulation, it isn't necessarily a bad thing. They can't actually touch the core concepts of what makes Bitcoin, Bitcoin. My guess is most regulations would come to avoid scams and the like, making an official list of exchanges that the government acknowledges, or heck, they themselves could host exchanges so that exit scams could be avoided.

There may be also an increased regulation in creating new Cryptocurrencies, and only registered ones with enough (insert random details that they may take) so that the market wouldn't be spammed/overwhelmed by shitcoins.