Denise520 (OP)
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May 30, 2014, 08:12:02 AM |
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As we all know, Bitcoin is an innovative payment network and a new kind of money. It uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Although many of its unique properties, it still faces some dificulties.
Recently, a number of publications posted about an economic note on bitcoin regulations. Different people hold different ideas for it.David Descôteaux of the Montreal Economic Institute suggested that bitcoin would require regulation, but according to the Canadian Bitcoin Foundation, they would much prefer if the government kept out.
In my opinion, I agree with David Descôteaux. In order to develop and thrive, Bitcoin requires regulations. The Bitcoin network is decentralized, which has two sides. On the one hand, it is good for free development of Bitcoin. However, on the other hand , it brings lots of big risks, such as cheating ,crime,etc. Therefore, Bitcoin requires regulations.The regulations requires government intervention to some extent. The measures kook by government can promote healthy development of Bitcoin.
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Elwar
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May 30, 2014, 08:15:52 AM |
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Welcome to Bitcoin.
I suggest you learn about the protocol by reading the white paper.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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Denise520 (OP)
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May 30, 2014, 08:19:27 AM |
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Welcome to Bitcoin.
I suggest you learn about the protocol by reading the white paper.
Thanks for your suggestion. |
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hilariousandco
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Join the world-leading crypto sportsbook NOW!
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May 30, 2014, 08:22:24 AM |
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It doesn't require regulation but it is inevitable that that's what will happen if it's going to become a mainstream currency. Governments ate going to want their cut at some point. Whilst they can't really regulate the technology directly they'll obviously put regulations on purchasing and exchanging it for cash etc.
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Swordsoffreedom
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Leading Crypto Sports Betting & Casino Platform
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May 30, 2014, 08:26:04 AM |
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I'll add to Elwar's post and link to the whitepaper https://bitcoin.org/bitcoin.pdfAnd also Welcome to Bitcoin |
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Elwar
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May 30, 2014, 08:28:09 AM |
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Math has been used for some pretty bad things throughout history.
It should not be regulated.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
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cuddaloreappu
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May 30, 2014, 09:07:03 AM |
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regulation is really required, but how much?
much that it does not hurdle innovation and become a problem for startups
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dreamspark
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May 30, 2014, 09:22:30 AM |
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its required to some degree if you want to start interacting with the fiat side of the world which all real businesses do. People saying adoption will happen without some regulation are mistaken I believe.
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oleganza
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May 30, 2014, 10:16:29 AM |
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Regulations apply to people, not things or ideas. You should rephrase your question like this:
1) Should legal shops accepting Bitcoin adhere to certain regulations?
2) Should online exchanges adhere to certain regulations?
3) Should two individuals on the p2p network adhere to certain regulations before sending transactions?
4) Should individuals writing and deploying software that does automated Bitcoin transactions adhere to certain regulations?
5) Should ISPs and proxy servers that pass Bitcoin traffic through them adhere to certain regulations?
Etc.
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Bitcoin analytics: blog.oleganza.com / 1TipsuQ7CSqfQsjA9KU5jarSB1AnrVLLo
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freebitcoins4u
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May 30, 2014, 10:28:41 AM |
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regulation will kill bitcoin for sure. so no.
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ranochigo
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May 30, 2014, 10:33:25 AM |
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regulation will kill bitcoin for sure. so no.
You just cannot kill bitcoin in a specific country since it is peer to peer. Unless the government completely cut of internet access. Bitcoin can never get regulations. -ranochigo |
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LostDutchman
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May 30, 2014, 11:24:16 AM |
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regulation will kill bitcoin for sure. so no.
You just cannot kill bitcoin in a specific country since it is peer to peer. Unless the government completely cut of internet access. Bitcoin can never get regulations. -ranochigo Horseshit. Bitcoin is currently the target of all sorts of government regulation. |
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dreamspark
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May 30, 2014, 11:28:03 AM |
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regulation will kill bitcoin for sure. so no.
Right, more like no regulation at all will kill Bitcoin if you want it to be adopted wider. I dont think anyone with any real sense is petitioning for 0 regulation. |
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LostDutchman
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May 30, 2014, 11:35:23 AM |
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regulation will kill bitcoin for sure. so no.
Right, more like no regulation at all will kill Bitcoin if you want it to be adopted wider. I dont think anyone with any real sense is petitioning for 0 regulation. Depends on your definition of "sense". |
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DooMAD
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May 30, 2014, 01:28:16 PM |
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The protocol itself can't be regulated unless the majority of users agree to it, so "no". The only thing that can be regulated are the entry and exit points when you convert to and from fiat. Governments can place restrictions on that part if they like, but they'll find considerable downsides in doing so. Innovation will naturally flow to regions with the least obstacles to overcome, so any nations wanting to suppress Bitcoin will lose out economically, as companies will just go elsewhere.
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yatsey87
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May 30, 2014, 01:59:18 PM |
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People here really tend to flinch at the word 'regulation'. Regulation is not always a bad word. It's probably ineviotable if we want bitcoin to grow as a currency.
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Whitehouse
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May 30, 2014, 02:00:32 PM |
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The protocol itself can't be regulated unless the majority of users agree to it, so "no". The only thing that can be regulated are the entry and exit points when you convert to and from fiat.
And that's exactly what will happen. No point trying to fight it really. May as well accept it of part of reality really. |
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Ron~Popeil
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May 30, 2014, 02:51:38 PM |
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Why are we so intent on begging governments to meddle with bit coin? Does it lend some false sense of legitimacy? Why do battered animals curl up beside abusive masters?
Bit coin does not need permission to exist and it certainly does not need a bunch of bureaucrats meddling with how we use it.
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yatsey87
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May 30, 2014, 02:56:06 PM |
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Why are we so intent on begging governments to meddle with bit coin? Does it lend some false sense of legitimacy? Why do battered animals curl up beside abusive masters?
Bit coin does not need permission to exist and it certainly does not need a bunch of bureaucrats meddling with how we use it.
Nobody is begging them nor does it need their permission, but the powers that be wont just let us use it whilst avoid paying taxes on it. If it's going to be a legitimate currency then it's to be expected that they will try and regulate it. |
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