Topic: Bitcoin being regulated in a country. - page 3. (Read 809 times)
I think this is what most countries that want it regulated so they can have control over bitcoin and other crypto currencies as it is they have no control over it including taxation something that they see as a problem. Their way to counteract that is to ban and regulate it.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
Bitcoin can absolutely be regulated in a country. Exchanges and ICOs can be banned, which is practically exactly what China did in the last month. They were basically showing off the power that they had over the coin. Little did they know that Bitcoin would rebound back and bite them in the butt, but hey, that's a them-problem. For us right now, we can be assured that even when a government tries to regulate Bitcoin, the price will be fairly stable besides the few panic sellers. In the day and age of technology, we can count on a technologically-based currency to rise in price.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
I think it's hard to regulate bitcoin, because as you can see, bitcoin is decentralized and it can be earned online. It would be hard to prohibit or limit it's use as long as there's internet in your country. I'm sure if this happens, people will find other means to earn bitcoin even if it is banned.
so that everything develops as it should with a crypto currency, it is necessary that there is an interest of the government. then we can hope for more.
of course, bitcoin can be regulated. Related to that, Bitcoin is no different from other devices that must follow different rules in each country. Bitcoin can also be complicated by strict regulations, making it difficult to determine how many percent of users will keep using this technology.
Yes it's possible. Just like north korea bans about everything
No,authoritatives can only implement rules over bitcoin but can't be stopped fully by any government.
China government tried to regulate it but failed.
There are hundreds of chinese people continuously using bitcoin after ban.
China government tried to regulate it but failed.
There are hundreds of chinese people continuously using bitcoin after ban.
There was no "ban".
Again stop with the spreading of such rumors.
What China wanted was control over the flow of money, they didn't care about bitcoin or ico or anything else.
They wanted to know who is flooding the exchanges with money and they will find a a way to stop people acquiring cryptos if they really want.
China is a communist country, they can pass whatever law the party thinks are necessary and they don't care about rights.
God forbid we see a real ban with chinese police cracking on bitcoin users.
But how does those regulations effect me if I earn and spend Bitcoin on Internet only?
Government and their regulations are only impactful when Bitcoin is converted to fiat or fiat to Bitcoin. Government can do just nothing when Bitcoin is on internet. Even if government puts a ban on cryptos, there are tons of ways to escape those bans when it comes to internet. Right now Bitcoin doesn't have much utility and is being used as investment for growing fiat. But with more utility people will find ways to use their Bitcoins online and governments will most probably will lose hold if any.
Government and their regulations are only impactful when Bitcoin is converted to fiat or fiat to Bitcoin. Government can do just nothing when Bitcoin is on internet. Even if government puts a ban on cryptos, there are tons of ways to escape those bans when it comes to internet. Right now Bitcoin doesn't have much utility and is being used as investment for growing fiat. But with more utility people will find ways to use their Bitcoins online and governments will most probably will lose hold if any.
Unless you spend your coins for games or losing them at casinos all your purchases are made also in the real world with real physical products that are traced back to you.
And those purchases will get taxed, as the tax is applied and held by the seller.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
As far as I know, bitcoin can not be regulated by a country. The value of bitcoin is not specified by any country. However, the development of bitcoin depends a lot on the countries.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
Bitcoin can be regulated by every government if they really want it to but I think it needs a specific department to them in able to focus in regulating such wide aspect just like cryptocurrencies, we all know that cyber laws in almost in all country in the world are not that so strong yet so implementing a regulations to Bitcoin will result only for people to find a way to dodge their governments.
And I also tink that government main objective for regulating Bitcoin and other cryptocurrency is for them to put a tax on every people or maybe transaction that is happening inside of the exchanges because there is a big money that is now involve inside of it.
This is exactly what all the governments want. They want to control all transactions. they want to be able to prosecute buyers and sellers to stop some illegal actions can be easy made using bitcoin. As Bitcoin is decentralized, They can't change Bitcoin, They only try to stop people using it. In any situation a day all of them will accept bitcoin as a global currency.
With the bitcoin price getting more and more higher, those who own bitcoin are found earning more money than before and this puts them in a questionable situation where goverments sees them as citizents who are earning money without any taxes, a couple of years ago content creators on youtube and streamers were in the same situation where they were earning money from donations subscribtion and sponsors without having to pay taxes, until recently where some goverments started regulating this kind of industry, and they started paying taxes for their equipments and others things related to their work, and it will be a matter of time bfore we see the same thing happening whith the crypto currency and the bitcoin in pirtuciliar, where taxes will be on mining machines, or increasing the electricity bill for those who mine bitcoin. 
regulating something has nothing to do with it being centralized or decentralized. you are still living in a country under the rules of that country and you are using the local currency of that country to buy bitcoin. and you use that bitcoin to buy stuff from shops that are working under the laws of that country.
that is what regulation means.
for example some countries see bitcoin as an asset and say when you buy it and hold it, you have to pay capital gains (i think it is called) taxes.
or some other places say when you open a business with bitcoin you have to get a license first. just like when you open a business with fiat.
But how does those regulations effect me if I earn and spend Bitcoin on Internet only? that is what regulation means.
for example some countries see bitcoin as an asset and say when you buy it and hold it, you have to pay capital gains (i think it is called) taxes.
or some other places say when you open a business with bitcoin you have to get a license first. just like when you open a business with fiat.
Government and their regulations are only impactful when Bitcoin is converted to fiat or fiat to Bitcoin. Government can do just nothing when Bitcoin is on internet. Even if government puts a ban on cryptos, there are tons of ways to escape those bans when it comes to internet. Right now Bitcoin doesn't have much utility and is being used as investment for growing fiat. But with more utility people will find ways to use their Bitcoins online and governments will most probably will lose hold if any.
This is exactly what all the governments want. They want to control all transactions. they want to be able to prosecute buyers and sellers to stop some illegal actions can be easy made using bitcoin. As Bitcoin is decentralized, They can't change Bitcoin, They only try to stop people using it. In any situation a day all of them will accept bitcoin as a global currency.
If the regulation of the country's crypto currency is aimed at establishing the procedure for making payments with the participation of the crypto currency and is not connected with the imposition of unjustified restrictions and prohibitions, then such activity of the state will positively influence its circulation within the country. If it is done by such methods as China tried to do recently, then nothing will come of it and both the state and the crypto currency will lose from this.
regulating something has nothing to do with it being centralized or decentralized. you are still living in a country under the rules of that country and you are using the local currency of that country to buy bitcoin. and you use that bitcoin to buy stuff from shops that are working under the laws of that country.
that is what regulation means.
for example some countries see bitcoin as an asset and say when you buy it and hold it, you have to pay capital gains (i think it is called) taxes.
or some other places say when you open a business with bitcoin you have to get a license first. just like when you open a business with fiat.
that is what regulation means.
for example some countries see bitcoin as an asset and say when you buy it and hold it, you have to pay capital gains (i think it is called) taxes.
or some other places say when you open a business with bitcoin you have to get a license first. just like when you open a business with fiat.
No,authoritatives can only implement rules over bitcoin but can't be stopped fully by any government.
China government tried to regulate it but failed.
There are hundreds of chinese people continuously using bitcoin after ban.
China government tried to regulate it but failed.
There are hundreds of chinese people continuously using bitcoin after ban.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
I don't think ti can be entirely regulated, but they can be self regulated. For instance let's say a country asks or licenses for crypto exchanges to operate. We can then just use those exchanges, and not try to go over this, and use unregulated exchanges. We ca still do it, but I don't think we would help anyone by doing it. So if governments create rules that don't suffocate bitcoin, we could accept them and everyone would be happy. If they go to far, we can just chose to ignore them, because bitcoin allows that.
We should stop saying Bitcoin and focus more on crypto. Bitcoin right now is only ~50% of crypto and getting less dominant over the others each day.
Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
Hoping that they shouldnt regulated bitcoin to the country because it benefit us a lot. Being that the government have no control over cryptocurrencies as they are fully decentralized, can bitcoin be regulated in a country?
Easy. Only it is important to know what to mean by the term regulation. To prohibit the use of bitcoin in the country but people will use it online on the websites of other jurisdictions. The state can control the circulation of local currencies and this will be a significant problem for users of bitcoin, but not completely put under control.
China are attempting to ban it and make it illegal to use but they cant fully stop every person from using it. i think thats the best its going to get as in regulating the currency
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