Beatkoyn (OP)
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March 13, 2015, 06:56:37 AM |
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Is Regulation The End For Bitcoin? http://bitforum.info/t/is-regulation-the-end-for-bitcoin/396Maybe bitcoiners doesnt say this out loud but majority of us question ourselves, if Bitcoin will be regulated. Would it be the end? I mean, if there is a central entity that regulates Bitcoin, do you think that they're regulation would be 'limited' or will they violate a bitcoiners privacy for the sake of 'regulation'? In the article, it reads the advantages of regulation. Can you give out negative effects if Bitcoin is regulated? |
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acquafredda
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March 13, 2015, 07:49:25 AM |
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Can you give out negative effects if Bitcoin is regulated?
First of all, it will become like other things. And that's not good. Secondly, it will lose all that is fascinating about it.  |
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Q7
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March 13, 2015, 07:52:13 AM |
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I think the harder it is to get, the more valuable it becomes. And talks about regulation, how is that possible for someone to actually control it? The idea behind bitcoin principle and creation is not for it to be controlled by anybody. They will just have to shut down the internet in order to do that. And even if somehow there is a way to regulate, can somebody ensure that it will always be fair and done in the best interest of bitcoin
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turvarya
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March 13, 2015, 08:15:38 AM |
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Regulation is a good thing.
Regulation means, that there is a rulebook, about how to use Bitcoin. That means, that government institutions can not act arbitrary.
Today, if you want to found a business and ask a government institution about how to do it(even if it is not a BTC business, you have to follow some rules), you get an official, who doesn't like Bitcoin and just tells you bullshit. I know a business owner, who would like to use Bitcoin, but he is just to afraid, that he might get into trouble and doesn't want to endanger the (not BTC)company he build over the last years.
No Regulations means less innovation.
Regulation also means, that people can't say anymore, that Bitcoin is illegal money.
Sure, if there are too strict regulations, it might hurt Bitcoin, but I don't think, that will happen and even if it happens e.g. in the USA: Bitcoin is Internet money, just move your business to a country, with less strict regulations.
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ObscureBean
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March 13, 2015, 10:01:14 AM |
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It definitely wouldn't mean the end for Bitcoin. Some form of regulation is actually needed if we ever want to see Bitcoin go mainstream. There is no way the powers that be will allow the 'wild west' back into the system. It doesn't matter how innovative the idea is, if it can't be controlled, it's not getting in. Regulation doesn't necessarily mean the end of privacy and anonymity either, at least not completely.
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foxkyu
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March 13, 2015, 10:03:57 AM |
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Can you give out negative effects if Bitcoin is regulated?
i think the most affected if bitcoin is regulated is about privacy now we can say bitcoin is anonymous, but if bitcoin is reglated i don't think so |
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shogdite
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March 13, 2015, 10:20:44 AM |
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Can you give out negative effects if Bitcoin is regulated?
I can't see how bitcoin could be regulated so I don't think it's anything we need to worry about just yet. Supposing it could it would mean a lot more bureacracy and red-tape, something I'm not too keen on. If bitcoin turns into Fedcoin I'm sure a lot of hodlers will be switching to alt currencies. |
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neoneros
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March 13, 2015, 11:18:12 AM |
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Bitcoin and the blockchain itself cannot be regulated. Governments will make laws around it, collect taxes on your wallet, they will try to enforce their will upon the bitcoin community. They might even ban the use of bitcoin. Bad thing indeed.
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Manic Street Preacher
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March 13, 2015, 11:24:24 AM |
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Depends on the level of regulation. If it's insanely taxed and you have to jump through hoops to use/spend/sell it then maybe, but likely regulation will just be the same as everything else and expected. If it is to exceed as a currency then it's natural it will be regulated in some capacity.
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Jesu
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March 13, 2015, 11:40:58 AM |
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Regulation is actually just a natural process if you want bitcoin to succeed, but of course whether it is dangerous or not is the level of regulation. Governments could certainly throttle and tie it down with needless laws and regulation but hopefully it won't be this severe. Governments are going to want their tax cut percentage in purchases though so if you think you can use it forever to avoid this you're very wrong.
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funkenstein
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Khazad ai-menu!
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March 13, 2015, 12:23:06 PM |
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Bitcoin is already the most regulated currency ever to exist. ALL new coin issuance, and ALL transactions are fully transparent and regulated by all participants and any and all citizens of the planet.
So, regulation is the beginning not the end, and always has been the core of bitcoin's strength.
However, this obvious fact assumes that we use the meaning of words as they are described by dictionaries.
I am well aware that many times words have hidden meanings, and in the case of "regulated" we sometimes mean, subject to a criminal psychopathic heirarchy and immediate change using the tools of fear by anyone who would so choose to use them.
Public coin is like the moon (please excuse the common analogy). The motion is perfectly regulated by well known and documented natural law. However, there is no way for me when i am on some tragic pharmaceutical downturn to threaten anyone with violence, blackmail, etc. to effect its motion. Hence: "unregulated". And so it will stay.
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Snail2
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March 13, 2015, 12:53:52 PM |
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Govt regulation could be the end of it, as for example someone in Chine why should care about US or EU regulations and vica-versa so in some cases that could led to hard-forks (like the debate around the 20MB fork).
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Beatkoyn (OP)
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March 13, 2015, 01:13:13 PM |
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Can you give out negative effects if Bitcoin is regulated?
i think the most affected if bitcoin is regulated is about privacy now we can say bitcoin is anonymous, but if bitcoin is reglated i don't think so To be honest, I am still not totally sold out with the idea of regulation. What if the goverment make bitcoin use a criminal activity? Theres nothing we could do. |
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ChuckBuck
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March 13, 2015, 01:32:41 PM |
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Is Regulation The End for Bitcoin?   Nope. Next question... |
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networthsigns
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March 13, 2015, 01:38:21 PM |
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Can you give out negative effects if Bitcoin is regulated?
i think the most affected if bitcoin is regulated is about privacy now we can say bitcoin is anonymous, but if bitcoin is reglated i don't think so To be honest, I am still not totally sold out with the idea of regulation. What if the goverment make bitcoin use a criminal activity? Theres nothing we could do. There is something we can do, we can do the same as what we have been doing if we believe in it, it is decentralized and they cannot stop us if we do not want them to. The only regulation i would agree with is all the centralized parts of bitcoin at the moment to begin with exchanges unless they become decentralized pretty soon they should be regulated because they have proven they need to be. I will be in crypto whatever happens  |
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Netnox
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March 13, 2015, 01:39:17 PM |
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Regulation is needed or else the whole ecosystem will be a wild west and regular people won't join the network, so there has to be trust.
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uglybird
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March 13, 2015, 01:41:50 PM |
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Is Regulation The End For Bitcoin? http://bitforum.info/t/is-regulation-the-end-for-bitcoin/396Maybe bitcoiners doesnt say this out loud but majority of us question ourselves, if Bitcoin will be regulated. Would it be the end? I mean, if there is a central entity that regulates Bitcoin, do you think that they're regulation would be 'limited' or will they violate a bitcoiners privacy for the sake of 'regulation'? In the article, it reads the advantages of regulation. Can you give out negative effects if Bitcoin is regulated? Didnt you think that this regulation is backed up by other bitcoin loyalist who just want to make a more civilized bitcoin world. Regulation will not be the end but just a start for bitcoin. |
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funkenstein
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Khazad ai-menu!
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March 13, 2015, 02:13:14 PM |
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Regulation is needed or else the whole ecosystem will be a wild west and regular people won't join the network, so there has to be trust.
Total cluelessness noted. |
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311
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Come original.
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March 13, 2015, 02:20:35 PM |
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Agreed ^. Bitcoin runs completely fine without any governmental intrusion or regulation. The network and users regulates itself and that is the beauty of bitcoin. People were using and transacting with it just fine for years without any regulation so I don't see your logic.
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QuestionAuthority
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You lead and I'll watch you walk away.
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March 13, 2015, 02:27:42 PM |
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When Bitcoin finally becomes fully regulated and widely used like MasterCard I think many early adopters will sell out their holdings at the first giant price spike and stop coming here to post. Think about it, do you go over and hang out at the MasterCard forum? Of course not because MasterCard isn't trendy-edgy-cool. Bitcoin won't be either at that point.
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