Is Bitcoin at risk of regulation?

[South Park]

How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/

First of all regulations against bitcoin are already in place so I do not see how the future will be any different than what we have now, however this theory about two different versions of bitcoin is ridiculous, bitcoin is bitcoin, I have no doubts that centralized cryptocurrencies created by governments will be created and be widely accepted but those coins will not be bitcoin, bitcoin will remain free and even if a great deal of people decide to accept KYC practices there will be many that will not, also this makes the assumption that bitcoin will never be accepted directly as a form of payment which in small purchases will defeat the whole purpose of KYC measures against bitcoin users.

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[Mahanton]

How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/

First of all regulations against bitcoin are already in place so I do not see how the future will be any different than what we have now, however this theory about two different versions of bitcoin is ridiculous, bitcoin is bitcoin, I have no doubts that centralized cryptocurrencies created by governments will be created and be widely accepted but those coins will not be bitcoin, bitcoin will remain free and even if a great deal of people decide to accept KYC practices there will be many that will not, also this makes the assumption that bitcoin will never be accepted directly as a form of payment which in small purchases will defeat the whole purpose of KYC measures against bitcoin users.

It would really be always on the different side of things.Yeah it might really be regulated but into those services and platforms who do have crypto services but talking
about regulation directly then we know that it isnt possible for bitcoin.Its been a while where platforms need to be licensed and of course KYC would really be tied with it
but good thing that theres some certain limits before you do able to do so.If you are completely getting rid of kyc or verification then theres still lots of options for you to take.
One things for sure that they are really totally different with fiat in so many cases.

[Willitivity]

At the moment the future is unclear, we don't really know if this can be the only way for mass adoption of bitcoin to take place, this looks like a threat to crypto, the government hates decentralization and they will stop at nothing until they can be able to regulate bitcoin, and we the users of bitcoin don't want to be regulated by the government, so it's kind of a fight between the government and the people, but personally I don't want bitcoin to be regulated by the government, but let's see how it's going to be in the future. Fingers crossed.

[Shasha80]

This is the reason why there are still many countries that have not accepted Bitcoin, because of the difficulty of implementing
regulations on Bitcoin. We know the government will regulate everything including Bitcoin, but because Bitcoin is decentralized
the government does find it difficult to regulate Bitcoin. So the temporary way the government is doing is by requiring all exchanges
or third parties to implement KYC procedures.

[maxreish]

His tweet has a point. If a particular regulated exchange was hacked and users has a KYC submjtted, infos, credentials, address were already exposed to them. In fact, that was the disadvantage that other users might not aware of.

Bitcoin regulations were already implemented in some countries, if this will gonna happen worldwide. How can we say we are free to control our own bitcoin? For some reason, it is better to implement some laws about cryptocurrency usage if we are thinking to minimize fraudsters and criminal activities.

[idrisalomagold]

I agree that if exchanges are exposed then possibly the users is at risk. However, bitcoin on the other hand cannot be at risk of the implementing regulations because it is decentralized.

Moreover, even being said that bitcoin is invulnerable - the fact that it is being used by the people in traditional payment system - it might be disrupted and its sole purpose could potentially be affected. As we know, decentralization is the goal of bitcoin aside from peer to peer payment system in which there will be no parties involved in the transaction. Thus, people is under the regulations of the government or state so although the latter is decentralized it could still be used inversely.

My point being is, it could still be regulated in the future by means of its users and not the bitcoin system itself.

[veznata]

it is not surprising. good sign by the way. it is drawing government attention meaning crypto market becomes significant "player". no one thought it could surpass 1 trillion (and much more) and authorities will pay no attention to it.....no problem for most people who own some coins legally. the only problem would be for some people who have many BTC's from early times when coins were mined and no documents for their purchase but who knows. positive steps. some years from now institutions and governments may use BTC. time is not too late for people to enter and buy. as many experts say one man must have at least some percentage of their funds in btc.

[manfredmann]

No, bitcoin will not get into risky situation but its users will. The purpose of regulation is to avoid any possible abuses and in return bitcoin users will be subject for government mandates on rules and regulations. This is not the easy part and probable rulings is to conduct KYC, limit the possible exchange between fiat and bitcoin. In my opinion bitcoin should be better this way. No mandates from the government and people can freely do their bitcoins and has full control over it.

[Eureka_07]

Well the regulation of using bitcoin will be dependent to each country, if the government believe that regulating the bitcoin network on their country, I believe it must be due to atleast counter those illegal activities that their citizens are doing through the help of Bitcoin.
It is the exchange that will be regulated, not the Bitcoin itself.

[Lucius]

It would be nice if Bitcoin could exist without various regulations, but did anyone think that the rulers of the world would give up what they keep people under control with? Whoever has the money has the power, and Bitcoin doesn’t fit into that story as something that should be completely decentralized. The question is how it was possible (or still is) to use Bitcoin in the way it was conceived, to completely circumvent all regulations and achieve a major adaptation at the global level?

If we had moved in that direction right from the start and if we immediately eliminated the idea of centralized crypto exchanges, how would that affect Bitcoin itself in terms of its accessibility to people around the world? Can we in any way prevent the authorities from regulating something that is meant to be available to everyone?

[chretienm]

I agree more with Stephan Livera that 2 types of bitcoin adoption may co-exist and yes I strongly believe the goverment will be stepping up control measures, so if bitcoin is accepted as payment it will be fully regulated and declared, but it also can be as a private asset to store value.


https://twitter.com/stephanlivera/status/1331761016649105410?s=20


How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/
[/quote]

[uneng]

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.

[cosmofly]

In my opinion, we really shouldn't provide KYC to Paypal or any centralized platform. Because they manage our data and be able to sell it to other businesses for huge profits, then it would be very dangerous to our identity.
I think we should create a lot of content to talk about this, it will affect the crowd and possibly influence the decisions of governments in the future. If that doesn't work, we shouldn't use Paypal platform, Binance and other big exchanges all have P2P platform, so we don't need to worry about cash out either.

[Kocret02]

If in the end bitcoin has been regulated and limited by government regulations, I feel very disagree, which we will feel we do not have complete freedom over our own bitcoin ownership. this is very worrying. When bitcoin was widely known, of course the government already knew bitcoin loopholes in providing huge profits. It's very unfair for us to manage bitcoin the way we expected.
This is so sad bro.

This is true later if the government makes a rule to ban bitcoin and others I think this will lead to resistance. because bitcoin can be misused by government officials and we as a society will suffer losses just because of unsupportive regulations

[Salauddin1994]

If bitcoin is supported by the government then bitcoin will be able to be used for all kinds of illegal activities, which will increase the number of crimes and investors in bitcoin will lose their freedom bitcoin has a long way to go before it can be controlled by a decentralized government. The government of any country cannot control properly even if crime is created through bitcoin goes digital the government's fiat currency will suffer a lot will be difficult for the government to prevent.

[barto123]

When a Bitcoin-Circular-Economy operates outside of government on the Lightning Network, it's going to be near impossible for them to regulate it. Transactions are onion routed. If everyone use it, this will be far too costly to enforce any laws.

It's getting easier & easier for individuals to operate outside the jurisdiction of politics on the internet.

Transacting privately should be a right, not a crime.

If you hold the keys, your Bitcoin cannot be regulated & it cannot be stopped.

They're going to have to come to your house & commit extortion or some form of blackmail in order to get your keys.

I'm betting technology wins in the end.

Open source developers will most likely trump governments.

[Lorence.xD]

If bitcoin is supported by the government then bitcoin will be able to be used for all kinds of illegal activities, which will increase the number of crimes and investors in bitcoin will lose their freedom bitcoin has a long way to go before it can be controlled by a decentralized government. The government of any country cannot control properly even if crime is created through bitcoin goes digital the government's fiat currency will suffer a lot will be difficult for the government to prevent.

That is not how it works, if government endorses bitcoin, there will be policies that is aligned to prevent illegal activities. The problem that I can see when the government is involved in bitcoin, an outrage to the pre-policy users will be outrage by the fact that they have to deal with bureaucracy. Also, crime prevention and elimination tools used by the government will be updated to catch up if they want to have digital currency friendly nation. I agree with you in a certain degree, maybe if the government is not ready to fight the dark side of things then I think that they should not put it into priority.

[Vishnu.Reang]

In many of the countries, Bitcoin is already regulated. For example, take the case of South Korea, Japan, Germany.etc. Even in many of the states within the United States, it is regulated (don't forget the Bitlicense of New York). But the level of regulation varies from country to country. In Japan and Germany, the government don't want to intrude too much. If you pay your taxes on time, then you are fine. But there are certain jurisdictions, where you need to provide all the details, such as the wallet ids and transaction logs.

[BitcoinOfficialGroup]

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.

https://twitter.com/RaoulGMI/status/1331759587876335617?s=20
https://i.ibb.co/kcJwn6R/Screenshot-4.png

But we all understand that this is not at all the idea that Satoshi embodied.
Today, we are all seeing PayPal increasingly create the conditions for the centralization of bitcoin.
At the same time, many famous personalities disagree with the concept of passing KYC for owners.

https://twitter.com/AlenaSatoshi/status/1331963506984431618?s=20
https://i.ibb.co/zXLbZvB/Screenshot-3.png

The opinions were divided into two halves. According to Stefan Leaver, host of the famous Bitcoin podcast, perhaps
 there will be two versions of Bitcoin.
The first will be tightly regulated by the authorities, while the second will remain for adherents of libertarianism and privacy.

https://twitter.com/stephanlivera/status/1331761016649105410?s=20
https://i.ibb.co/80fJdXJ/Screenshot-4.png

How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/

BTC Have a Green Future in 2021

[CODE200]

It is close to this phase of its development but I doubt this will be a risk for this technology. If there will be no further development regarding the aspect of wide acceptance, regulation is probably the only way in order to achieve mass adoption  of this technology in daily transactions. Regulation will not be directly imposed and as we are seeing, this will be made possible through the use of third party which is in this case, digital networks such as PayPal because it will boost the reliability of cryptos towards the masses especially to those who are just new in this industry in forms of introduction.