Regulation possible? Regulation Inevitable?

[Bitstar_coin]

Regulation is inevitable, the more big companies join crypto the more they find a way to introduce some level of regulation and control, even though btc is decentralise but the organisations and companies adopting btc will not want it so, they will find a way to have control which we can already experience through kyc process.

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[Casdinyard]

The regulation is actually inevitable. See for yourself. As time is passing, more and more exchanges are getting regulated. If the exchanges don't comply, they get shutdown by the government authorities. Look how slowly all exchanges are making people eventually go through the KYC process.
But no, the government won't ban those exchanges. Instead they will use those exchanges to regulate the whole system.

More likely to happen. Governments has no full control of the transactions involving cryptos due to the nature of de centralization. But of course they will do things in order to put taxes in almost everything, kidding aside. But frankly, once something involves money, most of the time taxation will follow. And this will be made possible through third party networks in which we can observe at this moment wherein more third party networks are being interested with cryptos, unlike before wherein they are in doubt of its advantages. So maybe, adoption through network and exchanges is part of the regulation.

[pixie85]

Regulation is inevitable, the more big companies join crypto the more they find a way to introduce some level of regulation and control, even though btc is decentralise but the organisations and companies adopting btc will not want it so, they will find a way to have control which we can already experience through kyc process.

It is but you cannot regulate something that does not depend on you.

Like, you can regulate companies because they have to register with the government so if they don't agree to be regulated you will not allow them to register and function.

Bitcoin doesn't need your approval to function which is why you cannot regulate it. You can only regulate exchanges.

[Zionatin]

They can't even regulate the drug industry what makes you think they can crypto? There way more important problems out there to discuss and sole first. I am not worried.

Regulation is inevitable, the more big companies join crypto the more they find a way to introduce some level of regulation and control, even though btc is decentralise but the organisations and companies adopting btc will not want it so, they will find a way to have control which we can already experience through kyc process.

It is but you cannot regulate something that does not depend on you.

Like, you can regulate companies because they have to register with the government so if they don't agree to be regulated you will not allow them to register and function.

Bitcoin doesn't need your approval to function which is why you cannot regulate it. You can only regulate exchanges.

Yex exactly. It's like trying to regulate street vendors or hawkers. It's never going to happen. If bitcoin could be regulated it would just be abused by the government like everything else.

[Searing]

They can't even regulate the drug industry what makes you think they can crypto? There way more important problems out there to discuss and sole first. I am not worried.

Regulation is inevitable, the more big companies join crypto the more they find a way to introduce some level of regulation and control, even though btc is decentralise but the organisations and companies adopting btc will not want it so, they will find a way to have control which we can already experience through kyc process.

It is but you cannot regulate something that does not depend on you.

Like, you can regulate companies because they have to register with the government so if they don't agree to be regulated you will not allow them to register and function.

Bitcoin doesn't need your approval to function which is why you cannot regulate it. You can only regulate exchanges.

Yex exactly. It's like trying to regulate street vendors or hawkers. It's never going to happen. If bitcoin could be regulated it would just be abused by the government like everything else.

That does not mean that 'regulators' in my view, the Trump Administration, can toss a monkey wrench into Bitcoin as they wander out the door. They have never

been fans and currently they are tossing out lots and lots of dubious regulations to muddy the waters for the next Biden Administration. This is their chance to take a parting shot at BTC/Crypto as they go out the door, regardless of how they

may actually ever get done, and the regulatioin redacted under next adminstration or killed.

Just FUD to counter act the FOMO of Bitcoin and Altcoin pump here recently. So IF there is as the official in the link below states,

there 'will be' clarity of BTC/Crypto Regulations in 4-6 weeks. (which would put it 5 days before Biden was sworn in on this comment)

https://www.cnbc.com/2020/12/04/top-currency-regulator-says-to-expect-clarity-in-coming-weeks-on-bitcoin.html

https://www.coindesk.com/coinbase-ceo-trump-administration-may-rush-out-burdensome-crypto-wallet-rules

I think this is likely, and I think it will likely be as the CEO of Coinbase said, they will go after user-hosted wallets in the regulation via US exchanges.

Which is stupid, I'd just do a KYC in Canada where this 'extra step' is not done. Anyway, I'm assuming this FUD will happen and they as they have in all

regulations on crypto, initially get it wrong. Remember the IRS rollout of rules in 2014? Thus this FUD will likely drive price of BTC/Crypto IMHO down

and sideways for 4-6 months until the next administration fixes this and their 'dubious' last-minute lame-duck regulations flying out of the Trump

The administration just to muddy the waters. This is just one regulation of 100s that will have to be addressed. I also think that this is being rushed

through to 'harm' Bitcoin/Crypto in that they had 'no meetings, closed or otherwise, it looks like a parting shot just to be mean.

Thus, cheap coins people. My own view is this winter is gonna suck, pandemic, recession, everyone having to 'grow up' and see the USA is in a world of hurt.

then the anger/denial/etc, etc. I myself expect everything to take a 30% hit or more, even Bitcoin ..my floor is around $13k and sideways until this and

other clusterf*ck 'reign in BTC/Crypto' plans are discarded. This has probably in a major FUD way happened 3 times in the past, the FUD and dubious

regulations and the rest worldwide...but never happens..it eventually gets resolved. Always seems to happen also when the economy takes a downturn

and 'wow' Bitcoin/Altcoins pump. You have FOMO you are gonna have FUD and backlash like the CEO of Coinbase says is maybe gonna happen. So think

cheap coins..this too shall pass....but this and for other reasons, this winter is gonna suck big time for folks as a wake-up call of just how bad things are.

Little way in denial IMHO...recession/pandemic/shutdowns....reality sucks..and this will be our small part of FUD we will have to deal with.

So there will be confusion, some price loss, the usual dealing with such FUD...and the price of BTC/Crypto will likely go down, but if all it takes is

for a lame-duck, Trump Administration tossing out a rule not vetted by the experts but simply tossed out as FUD from the higher end political overrides and

rule writing of a fading Trump

Administration, well...if that can seriously cripple BTC/crypto w/o major pushback at this point in time to stop such, well BTC/Crypto is doomed.

Again, FUD and FOMO and ATH or rinse/wash/repeat we have all seen this before. Big Whoop!

So a drop in BTC/Crypto prices may be as much as down to $13k and sideways until FUD, as per usual, is resolved..then blastoff in the spring of 2021

at worst, IMHO. So look at it as 'cheap coins' if it causes the problems above, again the worse case, which again, as a worse case above...we've seen it

before and will see it again, and overcome it.

[Yudhisthir]

There's a rumor that the government would investigate the wealth of people selling bitcoin in a large quantity is going viral. Not sure if this is a real thing or someone's trying to decrease the price of BTC or trying to stop whales from selling. With people buying and selling it on centralized exchange, finding that would be easier. But I hope if they go through it, they consider the initial investment and not the final value.

[manfredmann]

Yes, it could be but for now low chances that it can happe due to countries with different rulings over things like cryptocurrency and might not be agreeable to all. This is why I am saying that low chances that it could be regulated if this will be the process. However, in some countries regulations is already for cryptocurrency is already implemented and that by limiting their constituents the access of buying different crypto especially if this is not been acknowledge by the government.

[Om.monata]

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?

for bitcoin business, actually nobody can manage bitcoin. this happens because bitcoin is independent. only the government in a country that can regulate but to the extent the rules in that country, cannot completely regulate the bitcoin in the market because they do not have rights

[hatshepsut93]

Like, you can regulate companies because they have to register with the government so if they don't agree to be regulated you will not allow them to register and function.

Bitcoin doesn't need your approval to function which is why you cannot regulate it. You can only regulate exchanges.

Bitcoin is a currency, so regulating exchanges is a pretty big deal. If governments can regulate the majority of Bitcoin's volume, then it's pretty close to having Bitcoin itself regulated. In this scenario there will be 2 parallel Bitcoin ecosystem - the legal one, which follows the regulations, and the shadow Bitcoin economy. If most people will interact with Bitcoin through centralized platforms like exchanges or PayPal, then the regulators may consider their goals achieved.

[Innerpumper]

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

I don't think that's possible, even some of those countries that prohibit the development of bitcoin such as the USA and China still have startup cryptocurrency projects there, and not a few of them successfully survive in a few years to make a profit. However, it would be better if we followed that regulation if there were no losses on the part of governments, investors, communities, and projects, it would definitely increase public confidence in projects built for a bright future.