Topic: Analyzing Bitcoin juridical situtation for paper (Read 1307 times)

what does the every day consumer need protection from, you do not give $1000 to the person on the street who told you to invest in his window washing venture and you will get a return x 10.

consumers should always do their own research and not rely on laws to protect them, and if they get scammed well that is their own risk.



I believe regulations is for KYC policies, to give customers confidence in bitcoin and ensure criminal activity with btc has legislation to act on,

regulation will happen and continue to evolve as loopholes are found and this is good for consumers and the stability of the currency

having legislation applied to btc it can then be applied with the old laws regarding financial institutions and criminal activity.



it is always best to think though who does these laws really benefit the most?


Here is the logic, if you had an opportunity to make $10000 but what you have to do is make sure the people helping you only make $100, would you do it.
This is done everyday it is called capitalism, thus laws were made to ensure capitalism thrives which also gives everybody an opportunity to make $10000.
But not everyone has the ability or opportunities to make that $10000, so someone always loses, but laws are in place to ensure that the ones losing survive to continue to benefit the one person making $10000.



I am not against or for any of these principles but understand through my own research why and how it is applied so I can benefit for myself.

Thanks for the help everyone.

Just for major questions:

Bitcoin is known for bring major changes for everything we up to, financially speaking; so, what I think (according to the information that you gave me) is we can't put old laws to new actors.

I'm not saying that Bitcoin should be regulated, I'M NOT but I worried about the regular consumer who want to use the currency but can't because there are few protection.

If something should be careful is about major crimes, KYC policies, that kind of stuff. Any ideas?

The major areas I can think of are taxation, money laundering/Know your Customer (KYC)/Money Transmission, consumer protection, and investments/securities.  I would treat these discussion separately for the most part. 

this above
+ 1

depends on the country for legislation

http://www.coindesk.com/lawsky-outlines-revisions-new-yorks-bitlicense-dc-speech/

https://www.ato.gov.au/General/Gen/Tax-treatment-of-crypto-currencies-in-Australia---specifically-bitcoin/

http://www.coindesk.com/russia-lowers-proposed-penalties-bitcoin-activities/

you have to openly admit you have bitcoin to be subject to legislation, it is not easy to pinpoint who owns some bitcoin


as for the price look at what is happening with the russian ruble and in the past various other currencies seems btc can do what other currencies do

How can consumer ask for protection knowing the core of Bitcoin? There is no protection for any currency when it loses value as for theft look at circle.com who now insure against the theft of btc in particular their terms and conditions that point out who the insurer is. This is similar to banks that hold your fiat.

Hope this helps

Pure Bitcoin is not really regulated much.  it is when Bitcoin touches the legacy financial system such as exchanges when most of the regulation comes in.

Howdy,


Recently I joined in a economic investigation forum in a national university (in Paraguay) and we talk about international economy. As for me, once they knew I was investing and testing digital currencies, they asked me to write about BTC and I did it. My first publication will be soon available and I will share with everyone. Now, as a second part of this investigation I would like to talk specifically about the legal situtation; now, for an investigation there's a need to talk specficially about one subject; I chose BitLicense. What do you guys think?

Also, I was wondering some help about your expertise in this field in order to help me finding good information about this. Don't worry about good sources because in BTC juridically speaking, I saw a small amount of papers but they also mean nothing because the one who made that, doesn't know what they're talking about.

One last thing I would like to cover is about the price. As we many know, most supported currencies have some backup when a crisis is onborad. Since BTC doesn't, how legally can we define this. How can consumer ask for protection knowing the core of Bitcoin?

Thank you for your answers!