Bitcoin evangelist Michael Saylor says crypto regulations would speed adoption - page 2.

Bitstar_coin

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Quote from: Vaskiy on February 22, 2022, 04:46:58 PM

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

At this stage, it is undeniable, regulation is coming for crypto and there is nothing anyone can do to change that, it is already happening. According to yahoo news of February 18th, president Joe Biden is expected to issue and execute order that will require government agencies to study cryptocurrencies and cbdc afterward develop a statewide strategy to regulate digital currency".
So it is just a matter of time before a complete crypto regulation begins worldwide. My belief is, once the United State start the regulation process many other countries will follow.

TimeTeller

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Quote from: Vaskiy on February 22, 2022, 04:46:58 PM

Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

With the regulation, it comes with better perception towards crypto.
Because up until today, many people who are not well-informed about crypto are still thinking about its negative aspect.
Like being used in money laundering, scamming and other illegal activities.
If their government will have regulations towards the usage of crypto, they may change their mindset and trust its existence.
So yes, I am fine with regulation because it will further boost adoption. But as a crypto user, you can also reserve some privacy on your own.

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Regulation will keep the people on safer zone unlike the market. The adoption of bitcoin over the years have gradually increased. This increase happened as a result of more countries showing positive signs of regulating the usage of bitcoin. Even now there are people around the world who feel bitcoin is developed for the purpose of illegal activities and gambling needs. This happens because many countries don't disclose the decision of whether cryptocurrency is legalized or not.

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Quote from: TravelMug on February 15, 2022, 12:35:43 AM

Quote from: Obito on February 06, 2022, 09:43:12 PM

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

But this market won't get rid of scammers, since it's inception we have seen hackers and criminals still plowing around and ready to pound on anyone they gonna see. So I guess the vulnerability is there regardless if there is a regulation or not. Just one example is that we have one celebrity here locally and someone broke into his car and took everything. The sad thing is that there are crypto in his cellphone and this criminals was able to withdraw it. The good thing is that those criminals has been caught. So still depends on the individual on how they are going to protect their crypto assets with or without regulations in place.

Truth to be told there is a huge number of people that are not ready now and will probably never be ready to be their own banks, and personally I have no problem with that, the problem is that those people want to transform bitcoin in something that is not and want this market to accommodate them and offer them all the safety nets that fiat offers, and this is not only not possible but it goes against what this market stands for, and as such we must not relent as they are the ones that will have to adapt, and if they cannot do it then they can keep using their fiat as they have always done so.

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Quote from: Obito on February 06, 2022, 09:43:12 PM

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

But this market won't get rid of scammers, since it's inception we have seen hackers and criminals still plowing around and ready to pound on anyone they gonna see. So I guess the vulnerability is there regardless if there is a regulation or not. Just one example is that we have one celebrity here locally and someone broke into his car and took everything. The sad thing is that there are crypto in his cellphone and this criminals was able to withdraw it. The good thing is that those criminals has been caught. So still depends on the individual on how they are going to protect their crypto assets with or without regulations in place.

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Quote from: Obito on February 06, 2022, 09:43:12 PM

Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

It is impossible to make this market completely safe for those people since the nature of bitcoin is completely different than what we can expect out of fiat, people are the ones that will have to adapt their current way of thinking to bitcoin and not the other way around, after all if bitcoin were to transform and offer the same kind of protections that fiat offers then we can safely say that the idea behind bitcoin of becoming your own bank will be impossible under those circumstances, and as such there will be no reason for people like us to keep supporting it.

Obito

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Totally agree, with more regulations means that it's safe for people to get into the market with no worries of being scammed because they're protected but the only downside to all of this is that we need to get less private which is a problem for a majority of the users so we are still hanging on a thread and we don't know which way we are going to go.

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Quote from: Bitstar_coin on February 04, 2022, 09:05:27 PM

....

Is this where we are heading!

That's not even a question now.

Quote

Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen,

Regulation is for investor adoption and not necessarily for regular users. He is already too deep on BTC and other crypto so it's understandable that he wants more people and private companies to join.

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and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

They probably do not care anymore. They can transfer their BTC without a third party involved and they can still trade P2P.

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Quote from: Bitstar_coin on February 04, 2022, 09:05:27 PM

Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.

"Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on "Squawk on the Street," stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange."

U.S. Securities and Exchange Commission Chairman Gary Gensler said last month that the agency is planning to crack down on Wall Street, including by creating and enacting rules for cryptocurrency markets. Back in August, Gensler said Congress needs to grant the SEC additional powers to regulate crypto.

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Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

It is understandable that Saylor wants more regulation since he wants the price of his coins to go up, and it is not possible to make the price of bitcoin to go up by that much with retail investors anymore, so he is hoping that if things are clearer and easier for institutional investors then he will make more money, however that is not needed at all for bitcoin adoption, bitcoin will be adopted as long as it is useful, and since I do not see how bitcoin will ever become useless when we take into account the huge amount of money governments created during the last two years then there is nothing to worry about.

Ararbermas

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Regulation of bitcoin is so easy to say, but due to some factors it is too hard imagine as well how it's possible to happen especially from some countries wherein still don't believe that bitcoin is a future money until now. I mean despite of some good news and adoption of other countries they are still blind.. But you know no need to worry if adoption will not speed up because it keep increasing gradually every year indeed, so probably no need to rush.

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Quote from: Bitstar_coin on February 04, 2022, 09:05:27 PM

Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?

First and foremost regulations are inevitable whether we like it or not. Sooner or later any country will try to regulate bitcoin in any sense, it is been known that regulation tends to lag behind technological innovation, and the more mature and known Bitcoin, the government will bat an eye into it to put up the regulation.

Arguably, I think those kinds of regulations won't bother too much to maxis since I believe as long as the underlying itself isn't bothered like the past example of the mining pool who attempt to censor the tx that they mined, it will keep the decentralization and privacy.

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Quote from: LUCKMCFLY on February 06, 2022, 09:40:10 AM

What happens is that governments like this want to go against BTC and everything it represents, they have to accept that it is money, and it is a lot of money that moves in the market, obviously people will enter the market as soon as they have knowledge, but regulations are very easy to jump, you just don't have to put KYC and start doing it, because one of the things for which Satoshi created BTC is so that our money is managed by ourselves, not by governments or banks that tell us how much we must move, how much we can have, I think that the regulations, even with VPNs, can be skipped. I know a friend who lives in Spain and from there he evades Doing in a spectacular way, he never pays taxes, nor can they trace his operations.

Yeah the only thing regulations will bring is control which has always been the target of governments, if this happens, they are finally having their way, the majority of btc community are normal users who don't have that much technical knowledge to use vpn bypass restrictions, those who understand things properly will seek alternative ways to handle the situation,
But so far this hasn't been official yet, so we just have to wait and see how it will turn out. if regulating the crypto space will be the only way to attain mass adoption.

LUCKMCFLY

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Saylor said the regulations and policies implemented by the government might accelerate the adoption of bitcoin, even though prominent people say so, but still there are some investors who do not want to be involved in the regulations that are implemented, maybe for various reasons of their own, but it is difficult for us if we don't follow every regulation that has been issued by the government, if we don't follow government regulations our movement will definitely be complicated, we'll see in the future is it possible that the implementation of the regulations will accelerate bitcoin adoption..

What happens is that governments like this want to go against BTC and everything it represents, they have to accept that it is money, and it is a lot of money that moves in the market, obviously people will enter the market as soon as they have knowledge, but regulations are very easy to jump, you just don't have to put KYC and start doing it, because one of the things for which Satoshi created BTC is so that our money is managed by ourselves, not by governments or banks that tell us how much we must move, how much we can have, I think that the regulations, even with VPNs, can be skipped. I know a friend who lives in Spain and from there he evades Doing in a spectacular way, he never pays taxes, nor can they trace his operations.

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Quote from: DaveF on February 05, 2022, 09:01:46 AM

There are a lot of funds / brokers / banks / etc. that cannot invest at the moment due to the way their internal regulations are written.

I don't think that's what we want.

Some may not agree with this part of my views but we don't want more investors, we want more users. People who aren't in bitcoin because they think they can make some fiat profit and get out and not care about anything else.
Even if you don't agree with that, I think you can agree with the fact that volatility has been one of the reasons that adoption has been slow. More brokers, banks, etc. coming in and getting involved in trading bitcoin is only going to increase the volatility and market manipulation specially if they also control the media which they do.

But I agree that regulations could potentially remove some obstacles against adoption. For example businesses and merchants who couldn't accept bitcoin payment due to lack of clear regulations could start accepting it which helps adoption by a lot.

Accardo

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Regulating Bitcoin because of adoption is not a perfect Idea. People that will adopt Bitcoin will do so whether regulated or not. This is more than ten years of bitcoin's existence without being regulated and more people in the world know about Bitcoin. What matters is to allow bitcoin the way It was created by Satoshi. The longer Bitcoin stays the more people will adopt it. Michael Saylor as a business man needs fast profits so he would need a large percentage of people to adopt Bitcoin because he is among the whales in the market. I don't want Bitcoin to be regulated by the government.

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Quote from: Leviathan.007 on February 05, 2022, 05:14:57 PM

Depends on who you are asking and talking about adoption, for example for anyone who really cares about privacy and wants to have always anonymous transactions regulation won't be something favorite, surely.

The government and its institutions will continue to find new ways so that the majority of people will find it too bothersome to remain anonymous. Or in some cases, pretty much impossible. It's not in their interest to not know how you earn and spend your money, including digital currencies.

Saylor is right when he says that more regulation will increase the adoption rates. It will open the door to new investors who wont mind the regulatory framework. The number of people wanting to stay outside and remain untraceable and private will unfortunately shrink.

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Well, in a way I will agree that Crypto regulations will help adoption, because the definition of Bitcoin currently in the US is that it is some kind of Commodity and if the Biden administration clearly define that Bitcoin could be used as legal tender (which will never happen) then Bitcoin adoption will be faster.

The retail industry and large franchises (McDonalds / KFC / Burger King etc) will not risk going against current regulation to accept Bitcoin directly as a payment option. (They bypass this via the Payment processor loophole) Roll Eyes

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It would speed up adoption by large institutions, but not by small retail investors. It also won't make people use it as a currency more, even though it's one of the steps needed for that, but still price volatility would be preventing that. So, Saylor has his own interests in mind first, and not the interests of Bitcoin community as a whole.

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It would be nice if the regulations are aimed towards the secure development of the space and not just regulations that are aimed to limit the growth of crypto. Most of the time they are just placing regulations to monitor people's activities, and are not really keen on helping them to achieve more and be with the people at all.

While I do believe that what Saylor is saying is partly true, I don't think regulations, per se, would be enough of a motivation for people to adopt cryptocurrencies.

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Quote from: coolcoinz on February 05, 2022, 05:34:40 PM

Quote from: HenryRomp on February 05, 2022, 08:52:42 AM

Saylor is a genius. He's right. If you haven't watched "The Saylor Series" yet, you should now.

He is smart but if we believe in what he's saying he can wait years for this investment to bring profit, but can he really? He's just a human with all our vulnerabilities. Say he becomes sick, or his child, and money at hand won't be able to cover it, say there's a way and he has to do some cuts, or maybe he finds an even better investment, goes into debt, there's a lot of options. I tend not to put people on pedestals too fast. We had so many bitcoin lovers like McAfee or Musk, or more recently Trace Mayer, who turned to pumping shitcoins. I'd hate to see Saylor do the same.

Bottomline, we are always entitled to change our decisions when the situation calls for. We can say one thing, but it is always open for alteration if other things need to be done. We are just humans, subject to ever changing evolvement. Saylor, is no exception, don't treat what he is saying as his absolute action. Because the future is unseen, so as a human, we react on what is presented to us.

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