Bitcoin: To regulate, or not to regulate that is the question

Jednopivo

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Quote from: Carlsen on February 19, 2018, 09:08:14 AM

I think regulations are necessary.
The anonymity of crypto currencies can be and is abused.
There is money laundering, tax evasion and scamming people for their money when they invest in fishy ICOs.
All of that I consider to be anti social.
If a government finds a way to prevent this and if that way does not end up in too much surveillance, I would support it.

True, this does happen. But what about fiat? I'd be interested to know the figures fiat vs crypto in the amount of fraud. I'll have a look later when I have a moment. I do agree that something to combat fraud, and tax evasion, needs to be implemented else it will just run riot, and that's not a good thing.

Jednopivo

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Quote from: Sevarchik on February 20, 2018, 09:48:17 AM

My vision is regulating crypto with any resctrictions in amount and profit of investing, only for steal preventing myst be use regulation

I'm not sure that people who don't want it regulated all want to steal. Privacy, for example, is important for a lot of people. There will always be those who steal, whether they use cryptocurrency, fiat or gold, etc.

Jednopivo

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Quote from: fanbeila on February 20, 2018, 09:40:06 AM

Its always good for cryptos to get regulated as it would help them to progress in the long run.By getting regulated,people would get enough confident to invest in cryptos instead of getting feared anytime whether the cryptos would get banned or not.Regulation would help cryptos to get accepted as payment widely.

Yes, looking ahead, perhaps that is the way forward, although the original point was not to have any central authority or 3rd party involvement. But times must change and adapt.

dalesotpi

newbie

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the only thing to make transactions legal is to have the government impose properly planned, extremely safe, and well executed regulatory measures.
Take for example the increase in revenues form crypto transactions in South Korea to as much as 88 fold, it will tell you that investments may be pouring in probably influenced by safe regulations in place.
Also government can never regulate bitcoin due mainly because it is in a dcentralized platform, but government can regulate transactions.
So for me, regulation is a good thing

Sevarchik

member

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My vision is regulating crypto with any resctrictions in amount and profit of investing, only for steal preventing myst be use regulation

Dexter543

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Time For BCH,Eth,Neo

fanbeila

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Its always good for cryptos to get regulated as it would help them to progress in the long run.By getting regulated,people would get enough confident to invest in cryptos instead of getting feared anytime whether the cryptos would get banned or not.Regulation would help cryptos to get accepted as payment widely.

oemar bakrie

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PredX - AI-Powered Prediction Market

cryptocurrency in my opinion is better organized let all the more transparent and start in juxtaposed with the original currency..
because at this time many cases are against the law and involve bitcoin as the main problem..!!

jona

member

Activity: 266

Merit: 10

Regulations will lead to so many reductions of criminals actives from Bitcoin users,but it will entail so many charges and taxes involvement,the government will want their own part in bitcoin transactions.

Betwrong

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Quote from: Jednopivo on February 19, 2018, 05:23:34 AM

There is a lot of talk about regulating or not regulating BTC and cryptocurrency in general.

The European Union is talking about working on a regulatory structure to control money laundering and terrorism, etc. France and Germany are, allegedly working on their own regulatory structure.

The United States is sat on the fence as they are, apparently, still working out the pros and cons of BTC/cryptocurrencies before implementing any regulations.

What do you think?

Should cryptocurrency be regulated and if, so why? If not, why do you think it shouldn't be regulated?

Of course certain regulations will be implemented by various governments, it's just a matter of time. Although at first when I was only starting with Bitcoin I was against any regulations whatsoever supporting the Austrian school of economics and Anarcho-capitalism in general, later I came to conclusion that some regulations a necessary. For example imo governments should fight financial support of terrorism. Also I think they should prevent money laundering on a large scale, but on the other hand if someone makes $200/month in BTC they shouldn't bother with it because there are much bigger problems to solve. Hopefully, the cryptos will be regulated in the right way, at least in the so called developed countries.

Akosibatman

newbie

Activity: 84

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I think a regulation should implement on this matter to prevent scam ICO's and reduce the risk of criminal activities and abused on this matter. Many criminals on internet or what we call it hackers take advantage of this bitcoin, so i think it must be regulate in order for the bitcoin community scam free.

Jednopivo

jr. member

Activity: 378

Merit: 2

Quote from: Zeeks on February 19, 2018, 03:15:50 PM

Quote from: Jednopivo on February 19, 2018, 05:23:34 AM

There is a lot of talk about regulating or not regulating BTC and cryptocurrency in general.

The European Union is talking about working on a regulatory structure to control money laundering and terrorism, etc. France and Germany are, allegedly working on their own regulatory structure.

The United States is sat on the fence as they are, apparently, still working out the pros and cons of BTC/cryptocurrencies before implementing any regulations.

What do you think?

Should cryptocurrency be regulated and if, so why? If not, why do you think it shouldn't be regulated?

Link to a source? EU has recently said they aren't looking to regulate currently and aren't in a hurry either.

At the moment, it's all talk. But EU lawmakers, I believe, do want some sort of regulation in place.

https://www.ft.com/content/d6db427c-10c1-11e8-940e-08320fc2a277

http://www.telegraph.co.uk/technology/2018/02/09/france-germany-demand-bitcoin-clampdown/

https://www.express.co.uk/finance/city/917017/bitcoin-news-latest-regulation-g20-meeting-cryptocurrency-south-korea-india-japan-france

Let's see what happens at G20.

Zeeks

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Quote from: Jednopivo on February 19, 2018, 05:23:34 AM

There is a lot of talk about regulating or not regulating BTC and cryptocurrency in general.

The European Union is talking about working on a regulatory structure to control money laundering and terrorism, etc. France and Germany are, allegedly working on their own regulatory structure.

The United States is sat on the fence as they are, apparently, still working out the pros and cons of BTC/cryptocurrencies before implementing any regulations.

What do you think?

Should cryptocurrency be regulated and if, so why? If not, why do you think it shouldn't be regulated?

Link to a source? EU has recently said they aren't looking to regulate currently and aren't in a hurry either.

allthebitandbobs

sr. member

Activity: 1162

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Quote from: bitfocus on February 19, 2018, 05:33:42 AM

first of all, how can they regulate a P2P anonymous crypto like Bitcoin?

They can when u what to cash out .They can make it much harder for you to cash out your bitcoins if they so wished .

VitKoyn

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Quote from: Jednopivo on February 19, 2018, 05:23:34 AM

There is a lot of talk about regulating or not regulating BTC and cryptocurrency in general.
The European Union is talking about working on a regulatory structure to control money laundering and terrorism, etc. France and Germany are, allegedly working on their own regulatory structure.
The United States is sat on the fence as they are, apparently, still working out the pros and cons of BTC/cryptocurrencies before implementing any regulations.
What do you think?
Should cryptocurrency be regulated and if, so why? If not, why do you think it shouldn't be regulated?

Of course cryptocurrency needs to be regulated to avoid being abused by bad people but the problem is how can a government have a full control of a digital currency that is decentralized, yes they can tax or trace people if investors will sell their cryptocurrency for fiat but what if cryptocurrencies will be accepted as payment globally, in this case it will be hard for them to collect tax and trace illegal activities. I'm not an expert about this but I'm still waiting for any government that can implement the best regulation for cryptocurrencies (I'm sure there will be).

RodeoX

legendary

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The revolution will be monetized!

I'm not sure where it is that you think bitcoin is currently unregulated?

Fundalini

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I agree on regulating cryptocurrency (If they have any decent means to execute it) as it lessens the skepticism around it by the newcomers and hopefully, it would lead to mass adoption. The only problem is, regulating it contradicts the very idea of cryptocurrency that is -- freedom from centralization.

roos

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Activity: 157

Merit: 101

Quote from: Carlsen on February 19, 2018, 09:08:14 AM

I think regulations are necessary.
The anonymity of crypto currencies can be and is abused.
There is money laundering, tax evasion and scamming people for their money when they invest in fishy ICOs.
All of that I consider to be anti social.
If a government finds a way to prevent this and if that way does not end up in too much surveillance, I would support it.

If that is the reason then everything should be regulated, because everything can be abused.
Regulate cash money, internet, news, social media, etc.

I think it's not a question if, but the question is when they want to regulate.
So many signs that they want to regulate it.
It's just getting too big for something they can't control.

fireblond

full member

Activity: 200

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Thrive

I'm on the fence on this one, regulating would lower the "Anonymity" factor of Crypto. However I'm all for stopping money laundering and terrorism. And in the end of the day It's worth mentioning that regulating is far less harsh than Banning Crypto all together. So I'm assuming the way the regulation would be done is through the exchanges and online-wallets? Would this cause an end to QT-clients?

Carlsen

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Activity: 910

Merit: 501

I think regulations are necessary.
The anonymity of crypto currencies can be and is abused.
There is money laundering, tax evasion and scamming people for their money when they invest in fishy ICOs.
All of that I consider to be anti social.
If a government finds a way to prevent this and if that way does not end up in too much surveillance, I would support it.

Topic: Bitcoin: To regulate, or not to regulate that is the question (Read 268 times)