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Author Topic: Western Union would include bitcoins if they were "regulated"  (Read 2221 times)
scribbles
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July 01, 2014, 08:41:42 PM
 #41

If bitcoin is regulated like fiat, it will be as bad as fiat money and no one will use it.

That's the beauty of a decentralized currency built on a P2P network - it can't be regulated (unless interference with the internet counts as regulation). But as long as we have a need to convert between fiat and bitcoin, then governments can attempt to regulate the companies performing these services.

In this case, I think WU is full of it. We don't need WU to transfer bitcoin and they know it, regulation is just a straw man.




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Swordsoffreedom
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July 01, 2014, 11:00:17 PM
 #42

If bitcoin is regulated like fiat, it will be as bad as fiat money and no one will use it.

That's the beauty of a decentralized currency built on a P2P network - it can't be regulated (unless interference with the internet counts as regulation). But as long as we have a need to convert between fiat and bitcoin, then governments can attempt to regulate the companies performing these services.

In this case, I think WU is full of it. We don't need WU to transfer bitcoin and they know it, regulation is just a straw man.


That sounds about right person to person exchanges can still be done with ease between individuals across far distances
Exchanges can remain regulated for larger quantities but more or less it is kept pseudo-anoymous for most transactions on the network.
Less the problem of internet surveillance and IP tracking to Bitcoin clients.
DannyElfman
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July 02, 2014, 05:05:11 AM
 #43

If bitcoin is regulated like fiat, it will be as bad as fiat money and no one will use it.

That's the beauty of a decentralized currency built on a P2P network - it can't be regulated (unless interference with the internet counts as regulation). But as long as we have a need to convert between fiat and bitcoin, then governments can attempt to regulate the companies performing these services.

In this case, I think WU is full of it. We don't need WU to transfer bitcoin and they know it, regulation is just a straw man.
A decentralized currency like bitcoin can very much be regulated. It would need to be regulated when it is traded for fiat

This spot for rent.
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