Is Bitcoin at risk of regulation?

[Mike Mayor]

I will declare it will I? Fat chance. What the hell are they going to do? Visit every single bitcoin holder's house and look at your computer and somehow access your wallet. Wow the guy in the first screenshots a damn fool.
Please tell one time in history the governments ever helped us? No, they send us to war under threat of severe punishment to fight some are they created. They tax the shit out of you and waste the money on themselves and on really stupid purchases and things that the country actually doesn't need. Then when they run out of tax money they come back to us and ask for more??

I will declare my crypto when hell freezes over, all the angels die, demons roam the earth & over my cold dead body.

They can't even track on gun owners never mind anything else. 

Also, good luck legally proving a wallet belongs to someone. In court, they still struggle to put murders into prison because of "lack of evidence" now do you really think they going to be able to convict someone for something ridiculous? Not a chance.


They can't even control piracy but they think they can control bitcoin.  so funny....

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[judas]

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

[Wysi]

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

Bitcoin shouldn't be regulated not even a bit because it will kill the concept of bitcoin's existence and even if government starts to implement regulations mildly, it won't take long to fully regulate Bitcoin and make it like any other centralized wallet payment system. They have been trying to regulate Bitcoin unsuccessfully from long time. Regardless legal or illegal users will figure out a way to use Bitcoin if they want to use it so we shouldn't be compromising on basic rules of bitcoin to make it legal.

[chanler]

A recent tweet from renowned macro investor Raul Pal that Bitcoin will sooner or later become regulated has sparked much outrage. He believes that the only way for the government to accept Bitcoin is through the regulation of Bitcoin.

wonder what kind of regulation will it be. And who will regulate Bitcoin. If there is regulation for Bitcoin, there may not be global but only in specific counties regulating it. Bitcoin should be decentralized, why should be regulated? Moreover, it is our assets ad our reasons why we love BTC. I don't think it will happen. But if there are any probabilities there must be another way of regulation

[kawetsriyanto]

He believes that the only way for the government to accept Bitcoin is through the regulation of Bitcoin.

What kind of regulation?
There are already some countries that accepted Bitcoin both as the payment tool and the digital assets. But I don't see those countries regulated Bitcoin, the government just regulated how Bitcoin to use in those countries. It has a much different definition between "regulate Bitcoin" and "regulate how the Bitcoin to use in the countries".

[South Park]

I don't understand why so much surprise as regulations aren't something new here. At least in my country all exchanges have to follow regulations and there isn't anonymity when dealing with crypto currency.
All speechs and declarations of freedom, anarchism and libertarianism are just utopia right now. They do exist only in theory, because in practice the government or the elites win. We are playing their game by their rules. That is how things are happening in this world since the ancient times. The best example of that is what was done to Jesus Christ: they killed him and stole his teachings, subverted them and then created a religion in his name.

Now they are going to do the same with bitcoin.

I have no doubt in my mind that governments are going to try to subvert bitcoin in the same way that they subverted gold, the difference is that there is still in fact room for freedom with the use of bitcoin despite all of those regulations, the only problem is that you need to make an effort in order to get that freedom, if at some point you want to convert your bitcoin to a fiat currency then you have to play by their rules, because that is their system, but eventually as bitcoin is accepted in enough places so you can sustain yourself by only using your bitcoin then you will gain freedom that you never had before, but still you will need to remain vigilant and avoid any centralized party because they will always be subject to regulations.

[Vaskiy]

Bitcoin isn't at the risk of regulation. When something gets regulated, automatically the growth gets affected positively or negatively. By the time, regulations help in making people use that particular thing without fear. Maybe it could have hard restrictions, but when days pass people gets used to it. There is nothing to discuss about bitcoin standing at the edge of regulation.

[TedMosby]

IMO, bitcoin needs to be regulated. Regulation is a bridge for mass adoption. However, we need to states who will regulates this space. It can be independent organizations, government, or anything. It should be “trustable” by the majority. Regulation is not the risk. The risk is for bitcoin holders who dont want to taxed, or they used it for illegal purposes.

Bitcoin and any other decentralized financial projects could be still unregulated and massively adopted just if the conventional one collapses.

[Debonaire217]

IMO, bitcoin needs to be regulated. Regulation is a bridge for mass adoption. However, we need to states who will regulates this space. It can be independent organizations, government, or anything. It should be “trustable” by the majority. Regulation is not the risk. The risk is for bitcoin holders who dont want to taxed, or they used it for illegal purposes.

Bitcoin and any other decentralized financial projects could be still unregulated and massively adopted just if the conventional one collapses.

They can, the government has the capability to impose regulation in order to strengthen the use of Bitcoin I such a way that they can limit illegal uses of it. That is only possible with their jurisdiction especially to the business or companies about cryptocurrency that is starting to develop. They can regulate the tax, the fees, the transactions, the safety and security of the users, but for the existing blockchains deployed on the main net, it is impossible that they could regulate it as Bitcoin's whitepaper tell us that there's no need for an intermediary such as bank and financial institutions. That means that Bitcoin was built not to be regulated but to provide absolute freedom for the users whether which path they will take to use Bitcoin in good or bad ways.

[arwin100]

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

As far as I know, bitcoin does not need regulation from the government or anything because bitcoin has free movement and its price movement can only be moved from the interaction between buyers and sellers at an exchange so that the government cannot interfere in the circulation of bitcoin.

In some cause it needs regulation to avoid unnecessary scams and other illegal things which bitcoin and cryptocurrency used. It's somehow protection to the users and holders to avoid any unnecessary platforms that can harm them, but for any things like controlling of the usage and limit the numbers? Maybe from this we don't need that but for betterment then I think it's considerable.

[Mike Mayor]

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

As far as I know, bitcoin does not need regulation from the government or anything because bitcoin has free movement and its price movement can only be moved from the interaction between buyers and sellers at an exchange so that the government cannot interfere in the circulation of bitcoin.

In some cause it needs regulation to avoid unnecessary scams and other illegal things which bitcoin and cryptocurrency used. It's somehow protection to the users and holders to avoid any unnecessary platforms that can harm them, but for any things like controlling of the usage and limit the numbers? Maybe from this we don't need that but for betterment then I think it's considerable.

That's what they will have you believe. The truth is even with regulation you still not protected. The only one that can properly protect you is yourself. Prevention is better than a cure. You can't blame it on having no regulation if you fell for a silly scam. Scams still go on even on social media networks and they have been using fiat for years. Some just changed to crypto to keep up with the times but it is still the same old scam that authorities have warned people about for years.

[DarkDays]

Probably that's the only way in order for this technology to achieve acceptance across the globe.

I agree. At the moment there is just too much negativity around BTC and for the average people how it is a vehicle only to lose money. This whole issue of course stems from BTC not being regulated in any way so if any government was to place some sort of regulation I think that would encourage the average people to at least test it out.

[coolcoinz]

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

Bitcoin shouldn't be regulated not even a bit because it will kill the concept of bitcoin's existence and even if government starts to implement regulations mildly, it won't take long to fully regulate Bitcoin and make it like any other centralized wallet payment system. They have been trying to regulate Bitcoin unsuccessfully from long time. Regardless legal or illegal users will figure out a way to use Bitcoin if they want to use it so we shouldn't be compromising on basic rules of bitcoin to make it legal.

You should first define what regulation is. For instance, Bitcoin should be recognized by law and regulated in the way that people would be allowed to demand the return of their stolen coins in court, be able to pay their employees in bitcoin without being accused of giving out worthless substitutes of money. IMO if government demands taxes to be paid on the coins that you hold they should allow for these taxes to be paid in bitcoin.

[dizzy1996]

To be honest, I do not agree with the position of centralization of bitcoin, since this violates all the principles of creating this cryptocurrency and gaining control over it will allow the authorities to set restrictions on use, and this already gives a thought to how then bitcoin will differ from fiat with the same control, my opinion is definitely not centralization

[witcher_sense]

I totally disagree with Raul Pal on the matter because it seems he doesn't entirely understand what bitcoin is, why it is significant, and what makes folks want to adopt it. What Raul Pal does is confuse cause with effect. People want to adopt bitcoin because it is a good store of value, okay. But what makes it a good store of value is the absence of government presence: they can't control it, manage it, kill it, seize it, inflate its supply, debase it. They can't do anything with bitcoin, which is the main reason why it is valuable and is being adopted in the first place. If we are to allow the government to KYC bitcoin transactions, we will make bitcoin less decentralized, less valuable, less suitable for the role of a store of wealth, and thus decrease the adoption.

[greenbee]

I think bitcoin should take over the main means of payment for the whole world

[BitcoinOfficialGroup]

I think bitcoin should take over the main means of payment for the whole world

Maybe, This is really possible

[Light]

For instance, Bitcoin should be recognized by law and regulated in the way that people would be allowed to demand the return of their stolen coins in court, be able to pay their employees in bitcoin without being accused of giving out worthless substitutes of money. IMO if government demands taxes to be paid on the coins that you hold they should allow for these taxes to be paid in bitcoin.

Disagree with this from a practical perspective. You can already pay with an alternative asset / bartering if you come to an agreement with the person you're paying. If the person doesn't with to be paid in Bitcoin I think it's more than fair if they don't. Also from the tax perspective, it's absurd, do you expect them to allow for the payment of taxes in shares and property which they then have to dispose of? Not to mention that one of the economic advantages of tax is to be able to drive up demand for your currency. There is little benefit for individual nations to drive up demand for Bitcoin.

[posi]

If the government controls bitcoin, it has lost its essence as a decentralized currency. Although the government has good reasons to regulate bitcoin, however bitcoin holders do not have complete freedom over the assets that we own. why doesn't the government just create a centralized cryptocurrency that they can control?

First of all, i supported what the Twitter user Raoul said because for cryptocurrency to gain adoption some sacrifice will be needed but that doesn't mean the government will control Bitcoin as you said and what they will control is the exchange site and some others crypto payment site. However, there's a chance for the government to influence the price of Bitcoin just like the role played by Paypal.

[ShowOff]

Government regulation regarding bitcoin are a threat to bitcoin itself as a mean of payment. Regulations prevent bitcoin users from paying for certain items using bitcoin legally in a country because bitcoin is subject to applicable regulation.
A real example occurs in Indonesia because all bitcoin users cant use bitcoin as a legal mean of payment but the government has never prohibited trading. It's just that these exchanges must also comply with government regulation whereby all exchange operating in Indonesia must obtain a license which is then regulated by the implementation of KYC. Regarding taxes, the government also want taxes from trader carried out by trader on listed exchange, but trader do not have to pay it directly to the government because maybe the exchange is already negotiating with the government.

The most important thing in my opinion is that the government cant regulate bitcoin transaction and every user does not need to get government approval to make transaction. The government can only control its use in the real world but not for transaction.