Cryptock
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June 24, 2022, 08:14:27 PM |
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Perhaps we should live our regulated digital currency in the CBDC for those who care to use those and the unregulated in actual cryptos, especially Bitcoin.
I believe it wont happen in coming next 10 decades. But maybe - some people realize the importance of crypto and regulate them. In my country almost 10% of the population is only aware of the crypto. And there is a lot of people who spend so much time in watching Tiktok but they never would watch what crypto is. Silly people
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palle11
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June 24, 2022, 09:25:41 PM |
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Perhaps we should live our regulated digital currency in the CBDC for those who care to use those and the unregulated in actual cryptos, especially Bitcoin.
I believe it wont happen in coming next 10 decades. But maybe - some people realize the importance of crypto and regulate them. Despite that the government may later become very interested in it and try to do a regulation on cryptocurrency, they can only succeed in their digital currency and not in crypto. Moreover also they can regulate centralised cryptocurrency but not decentralised like bitcoin. They can also have control on the exchanges in operation in the areas they control and the friendly countries around them to restrict their citizens.
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TheNineClub
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June 24, 2022, 09:36:32 PM |
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Sure it's possible for it to become regulated, actually, that's something crypto will have to tackle with / decide how it wants its future to be shaped, because if it wants to go on the path of mass adoption then it will have to give up some (if not all) of its deregulation philosophy. That might not be such a good idea, at least not just yet.
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nurilham
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June 24, 2022, 11:08:17 PM Last edit: June 26, 2022, 11:01:04 PM by nurilham |
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Not really. The true decentralized currency can never be regulated by the government. The only way they can regulate crypto currency is through an indirect way. The government can take control (regulate) those centralized exchange, wallets and crypto currencies. So anyone as long as they are not using those centralized institution or interacting with fiat currency will be able to evade those regulation.
Indeed. Since it is decentralized, cannot be regulated by the government. But CEX can be regulated by making some regulations for them. And the government also can apply crypto taxes both for payment purposes and for investment (digital assets). Although the government cannot fully regulate crypto with this policy, it can bring effect quite a lot of crypto users. The government may have no power to regulate crypto world, but they can regulate the use of crypto in their country.
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Cryptock
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June 25, 2022, 02:19:54 PM |
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Not really. The true decentralized currency can never be regulated by the government. The only way they can regulate crypto currency is through an indirect way. The government can take control (regulate) those centralized exchange, wallets and crypto currencies. So anyone as long as they are not using those centralized institution or interacting with fiat currency will be able to evade those regulation.
Indeed. Since it is decentralized, cannot be regulated by the government. But DEX can be regulated by making some regulations for them. And the government also can apply crypto taxes both for payment purposes and for investment (digital assets). Although the government cannot fully regulate crypto with this policy, it can bring effect quite a lot of crypto users. The government may have no power to regulate crypto world, but they can regulate the use of crypto in their country. The sooner they do it the better it will. It is a good source of gathering tax as well. IT will benefit both the people and the users. People are happy and enjoy where the government is regulating it. But where crypto is banned ... it is a stress for the gamblor. They look for the alternative all the time.
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amishmanish
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June 25, 2022, 05:14:46 PM |
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Bitcoin is a dual edged sword, on one end of spectrum it provides avenue for saving, purchasing and money transfer without use of conventional system in a secure manner which actually decrease the financial costs in long run and provides a flexible system for financial transactions across borders. But it also scares governments who are the default custodians of economies in countries, So governments are desperately trying to bring crypto in centralized controls. Yes they have succeeded to some extent. But remember crypto is not a currency, Its a technological revolution. Just how internet can never be tamed. Crypto can never be truly regulated, yes a lot of it can be.
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Freeesta
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June 25, 2022, 06:53:09 PM |
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I think this will happen. Maybe it will take a long time, but this option is possible. Who do not hide their activities in the field of the crypto industry and are ready to cooperate with the state will be satisfied. For those people who want to stay in the shadows, this process may not be very pleasant. The most important thing is that in the future the whole mechanism is simple and understandable to everyone. Otherwise people will want to hide.
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Oceat
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June 25, 2022, 07:20:44 PM |
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I think this will happen. Maybe it will take a long time, but this option is possible. Who do not hide their activities in the field of the crypto industry and are ready to cooperate with the state will be satisfied. For those people who want to stay in the shadows, this process may not be very pleasant. The most important thing is that in the future the whole mechanism is simple and understandable to everyone. Otherwise people will want to hide.
I still have a doubt it will be all regulated someday because Bitcoin can't be controlled by anyone but if the government main target are the exchanges then maybe it might be. But this will take some time that would lead sometimes to not getting where they want to that would be left forgotten but since crypto and Bitcoin is getting a lot of attention to the people and media. But I like the idea if their main target are those new crypto projects that sometimes end up scamming lots of people. I do hope developers will take full responsibility to what they did to the market and should be held accountable if they ever scam people/investors.
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3996
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virasisog
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June 26, 2022, 01:46:37 PM |
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I think this will happen. Maybe it will take a long time, but this option is possible. Who do not hide their activities in the field of the crypto industry and are ready to cooperate with the state will be satisfied. For those people who want to stay in the shadows, this process may not be very pleasant. The most important thing is that in the future the whole mechanism is simple and understandable to everyone. Otherwise people will want to hide.
I still have a doubt it will be all regulated someday because Bitcoin can't be controlled by anyone but if the government's main target is the exchanges then maybe it might be. But this will take some time that would lead sometimes to not getting where they want to that would be left forgotten but since crypto and Bitcoin are getting a lot of attention from the people and media. But I like the idea if their main target is those new crypto projects that sometimes end up scamming lots of people. I do hope developers will take full responsibility for what they did to the market and should be held accountable if they ever scam people/investors. The government won't be able to regulate Bitcoin but for sure, they will find ways to control it. The government is now seeing the potential of crypto to provide higher taxes so there's also a big possibility that they will use exchanges to control crypto in a single country as well as the users and investors. Bitcoin has a strong foundation and it couldn't be regulated by any organization.
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Cryptock
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June 26, 2022, 07:34:15 PM |
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The government won't be able to regulate Bitcoin but for sure, they will find ways to control it. The government is now seeing the potential of crypto to provide higher taxes so there's also a big possibility that they will use exchanges to control crypto in a single country as well as the users and investors. Bitcoin has a strong foundation and it couldn't be regulated by any organization.
That is correct - government wants to keep the power in the hand of authority. Regulating crypto means giving the power to the people which is a daunting task. Some countries like Russia and Korea are accepting but not all.
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saint_casanova
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June 26, 2022, 08:28:33 PM |
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Not really. The true decentralized currency can never be regulated by the government. The only way they can regulate crypto currency is through an indirect way. The government can take control (regulate) those centralized exchange, wallets and crypto currencies. So anyone as long as they are not using those centralized institution or interacting with fiat currency will be able to evade those regulation.
Indeed. Since it is decentralized, cannot be regulated by the government. But DEX can be regulated by making some regulations for them. And the government also can apply crypto taxes both for payment purposes and for investment (digital assets). Although the government cannot fully regulate crypto with this policy, it can bring effect quite a lot of crypto users. The government may have no power to regulate crypto world, but they can regulate the use of crypto in their country. The sooner they do it the better it will. It is a good source of gathering tax as well. IT will benefit both the people and the users. People are happy and enjoy where the government is regulating it. But where crypto is banned ... it is a stress for the gamblor. They look for the alternative all the time. DEX only reduces the effect of govt regulation to some extent, not complete as full tho. Because as always, govt can still request those DEXs to give the user's information which they can track and inquire about or force that person to pay tax,...
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Bitcoin2009
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June 28, 2022, 07:45:35 AM |
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Of course it is very possible, it is time for all cryptocurrencies that are currently officially listed on exchanges of more than 20k, if there is no regulation I'm sure it will continue to grow and remember the LUNA case when dev. stabilize the coin trying to change the algorithm so there is pressure and many investors cry.
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Shinpako09
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June 28, 2022, 09:39:55 AM |
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Maybe they can but not completely. Crypto became a trend and already part of society/economy. There is no way government can't stop the public by using crypto so their only solution is to regulate it by enforcing stricter KYC in different exchange site. However, the purpose of crypto is to have an anonymous transaction and users will always make a way to avoid those hustle implemented by government.
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2stout
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June 28, 2022, 07:46:17 PM |
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This is quite a possibility as it seems central governments want to control it, but know they can't and would settle for containing it. Regulation is one of the tools to help accomplish this. I wouldn't be surprised if a coalition of central governments formed in order to do so.
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Doan9269
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June 28, 2022, 08:26:12 PM |
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Do you also think that all retirees savings are prohibited to invest in the cryptocurrency? with honest saying this would have been the best advise and a well recommendable option for all retirees to use, pension funds and gratitude can be used as an investment for the over aged ones instead of having thier funds with fiat banks without any significant yield or benefit over years, the only challenges here is that the adults may find it difficult to operate or make use of crypto operations. I also like to ask everyone of you here, where if you are in favor that all cryptocurrency must be regulated under byt the government? that's just a mere assumption which is not possible, government cannot control a single crypto not to talk about all, their regulatory aspect is in demand for tax payment, bitcoin on its own is a decentralized digital currency, so how is that possible for government to use a centralized authority on it.
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Silberman
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June 28, 2022, 08:59:07 PM |
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Maybe they can but not completely. Crypto became a trend and already part of society/economy. There is no way government can't stop the public by using crypto so their only solution is to regulate it by enforcing stricter KYC in different exchange site. However, the purpose of crypto is to have an anonymous transaction and users will always make a way to avoid those hustle implemented by government.
Regulations will be put in place and they will get stricter the more time it passes, however the question is if people will actually comply with those regulations? Right now people are complying to a certain extent, however what will happen when the economic conditions deteriorate to the point inflation gets out of control? At that point harsher regulations or even bans against cryptocurrencies will emerge, but many people will simply disregard them as when people have to choose between following a set of arbitrary rules or to benefit themselves in some way or form they will always choose the latter instead of the former.
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ChiBitCTy
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June 28, 2022, 09:36:00 PM |
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Top Democrat Seeks Probe on Use of Crypto in Retirement Accounts - House Democrat asks watchdog for data on crypto in 401(k)s - Lawmakers divided on how to regulate cryptocurrencies House Ways and Means Chairman Richard Neal is asking a federal watchdog to scrutinize the emerging practice of retirement-savings programs offering cryptocurrency investments. Neal, a Massachusetts Democrat, said in a letter to the Government Accountability Office that he’s worried about the lack of regulation for crypto investments, which could in turn harm retirees’ savings pools if they put money in such assets. Referrence: https://www.bloomberg.com/news/articles/2022-06-15/top-democrat-seeks-probe-on-adding-crypto-to-retirement-accounts?srnd=cryptocurrencies-v2 According to my analysis, Means chairman Richard Neal was a Democrat politician in a Federal showed concern for retiring employees though I'm not sure if I understand this correctly however, you are free to correct me just in case I am wrong. Retirees need to be careful to put their savings on cryptocurrency investors due to the lack of government regulation. And I think his request to the GAO to provide data to cryptocurrency employers so that it can be regulated where they are obliged to pay taxes to the government. I also like to ask everyone of you here, where if you are in favor that all cryptocurrency must be regulated under byt the government?my opinion - If ever all cryptocurrency will become regulated, that means all crypto employers can able to contibute in the economy. if that happens the economy of the country could also increase, although it will in control by the government. Do you also think that all retirees savings are prohibited to invest in the cryptocurrency?my opinion - Not all retirees are open minded into cryptocurrency, there are some of them have an idea about this industry of business. so if I am one of the retiree and have an idea about in cryptocurrency, I maybe put some of the percentage of my retiree savings where even I know there is risk, but it still fine due to I am willing to loss it if ever I encounter bad things happens in the market. Which is more safe Regulated Cryptocurrency or not Regulated?my opinion - whether cryptocurrency is regulated or not they have both advantages and disadvantages. Though its another topic, and I don't want to elaborate that. Most all cryptocurrencies are already being regulated. It's important to remember that regulation is handled by each nation independenly, and so many countries have already been regulating these currencies. In my opinion I am all in favor of cryptocurrencies being regulated, at least to an extent. If you don't regulate them, then most nations will inevitably ban them. Love it or hate it, that's a simple fact. This is also one reason I am not a fan of making bitcoin completely anonymous/private. This would put bitcoin on the fast track to being banned.
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tbterryboy
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July 01, 2022, 11:58:05 AM |
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The government won't be able to regulate Bitcoin but for sure, they will find ways to control it. The government is now seeing the potential of crypto to provide higher taxes so there's also a big possibility that they will use exchanges to control crypto in a single country as well as the users and investors. Bitcoin has a strong foundation and it couldn't be regulated by any organization.
That is correct - government wants to keep the power in the hand of authority. Regulating crypto means giving the power to the people which is a daunting task. Some countries like Russia and Korea are accepting but not all. Regulating cryptocurrency is actually a very possible thing to execute but from the look of things, if the digital currency gets regulated, a few things are definitely going to start going wrong and when that happens, Bitcoin is no longer what we now know it to be. Actually, one of the weird feeling is to be in charge or in control of a particular place and something comes in and as the leader you are, it’s difficult or nearly impossible for you to have control over the operations of that thing in your territory, feels like you’re are being kicked off balance ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) . So, it’s totally normal for them to want to be in control of everything but it seems like it will take a longer time to achieve that.
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Fortify
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July 01, 2022, 08:10:45 PM |
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Top Democrat Seeks Probe on Use of Crypto in Retirement Accounts - House Democrat asks watchdog for data on crypto in 401(k)s - Lawmakers divided on how to regulate cryptocurrencies House Ways and Means Chairman Richard Neal is asking a federal watchdog to scrutinize the emerging practice of retirement-savings programs offering cryptocurrency investments. Neal, a Massachusetts Democrat, said in a letter to the Government Accountability Office that he’s worried about the lack of regulation for crypto investments, which could in turn harm retirees’ savings pools if they put money in such assets. Referrence: https://www.bloomberg.com/news/articles/2022-06-15/top-democrat-seeks-probe-on-adding-crypto-to-retirement-accounts?srnd=cryptocurrencies-v2 According to my analysis, Means chairman Richard Neal was a Democrat politician in a Federal showed concern for retiring employees though I'm not sure if I understand this correctly however, you are free to correct me just in case I am wrong. Retirees need to be careful to put their savings on cryptocurrency investors due to the lack of government regulation. And I think his request to the GAO to provide data to cryptocurrency employers so that it can be regulated where they are obliged to pay taxes to the government. I also like to ask everyone of you here, where if you are in favor that all cryptocurrency must be regulated under byt the government?my opinion - If ever all cryptocurrency will become regulated, that means all crypto employers can able to contibute in the economy. if that happens the economy of the country could also increase, although it will in control by the government. Do you also think that all retirees savings are prohibited to invest in the cryptocurrency?my opinion - Not all retirees are open minded into cryptocurrency, there are some of them have an idea about this industry of business. so if I am one of the retiree and have an idea about in cryptocurrency, I maybe put some of the percentage of my retiree savings where even I know there is risk, but it still fine due to I am willing to loss it if ever I encounter bad things happens in the market. Which is more safe Regulated Cryptocurrency or not Regulated?my opinion - whether cryptocurrency is regulated or not they have both advantages and disadvantages. Though its another topic, and I don't want to elaborate that. People who want bitcoin to reach a wider audience should embrace more regulation because it brings additional structure and legitimacy to cryptocurrency overall. Like it or not, criminals have identified bitcoin as a means to move money around with less detection than existing banking networks, just because it's newer. Regulation will help add tracking and make it more functional, allowing more investment money to join in with increased protections.
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AndySt
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July 01, 2022, 08:55:53 PM |
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Regulation does not necessarily mean tracking at all, tracking is more about control. The whole question is the degree of regulation, because cryptocurrencies were created as decentralized mechanisms that do not have the generic problems that are inherent in centralized mechanisms. In any case, if cryptocurrencies are increasingly integrated into the traditional economy, then regulation in this area by the state cannot be avoided, especially when it comes to such a sensitive topic as pension savings. Nevertheless, a person is very vulnerable in old age in terms of earnings and can no longer start from scratch in case of failure, so it is necessary to act with repeated caution with investments of such a plan in such risky areas as cryptocurrencies. I am not sure that the state should encourage direct investments of pension funds directly into cryptocurrencies and should limit itself to derivative financial instruments related to cryptocurrencies such as ETFs or shares of mutual funds.
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