Can bitcoin be regulated! | Bitcointalksearch.org

TomUyamot

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Quote from: Idrisu on September 13, 2017, 01:11:24 AM

I will like to have your view on this? Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

Bitcoin may be regulated in a certain country. In fact, in some countries the use of Bitcoin is outright banned. In some countries, Bitcoin may not be banned, only acknowledged, but not really sanctioned by the government. In some others, Bitcoin is treated as securitites. Bitcoin regulated will somehow keep it away from being illegally used. Bitcoin as it is may be abused by some bad guys for transactions that violate some laws.

BeGoods

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Quote from: alisafidel58 on November 10, 2017, 11:39:32 PM

This question has been ask here for a long period of time and the answer will always be "NO", Bitcoin cant be regulated by anyone nor a powerful government cant.
Bitcoin doesnt have a main server to begin with thats why it cant be regulated.

nope I think we do not know what will happen in the future. possible regulation on bitcoin may exist. for example bitcoin users will definitely use local exchange to convert their bitcoin. and the government will enforce the verification of personal data for users of the local exchange site. it's one way government control on bitcoin users

Bezobraznike

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Quote from: alisafidel58 on November 10, 2017, 11:39:32 PM

This question has been ask here for a long period of time and the answer will always be "NO", Bitcoin cant be regulated by anyone nor a powerful government cant.
Bitcoin doesnt have a main server to begin with thats why it cant be regulated.

Bitcoin will be regulated, and can be regulated. It is open source, that means your government or
anyone can track you. Even now you have some kind of regulations, US citizens can not deposit money
in all exchanges, or gambling sites. They can do it off the record but if they get caught they can be
punished for that.
How I see it government can ask you to make official wallet with your ID and if you use bitcoins for
something illegal they will track you easily. If you have some secrete wallet if they connect that wallet
with you you can be punished for that.
There are many regulations, I think some of them can be applied on bitcoin too. Like you said no one
will be able to control supply of bitcoins, but usage can be controlled.

Kingofbitcoin12345

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It seems so necessary for us to ask for any regulation on cryptocurrency but the truth is it can’t be,, in the whole but on specific things like criminal used and transactions maybe.. It is better for them to just wait on the end result of conversion from bitcoin to fiat for an effective regulation.. Because obviously bitcoin will or is needed to be converted before be used in the real world(not all but 90%).. If I will be ask,, does this regulation benefits us all.. 50/50 I think and we can’t sure with it,, we won’t know if we don’t try..

KennyR

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They can make rules and laws about it, but they can't enforce those rules because crypto currencies use a peer to peer system and not the bank infrastructure like it's the case for fiat currency. The financial crises happen because of the fiat currency printing system of the banks and destroying of the value of that money by default and anything else than that must be better!

Yes, governments along with financial law makers can generate laws that need to be followed or fulfilled while using cryptocurrency. In reality this isn't possible to enforce for the above stated reason, because banks have an intermediary person whereas cryptocurrency doesn't. Hope this community grows as it grows at present without much of regulations.

Leane Lee Natividad Cuenc

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Yes it because they have a good profit and good transaction..so bitcoin can be regulated someday...

muhammad-adnanzain

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Yes it can but regulation of bitcoin will be have different for every country of the world.

XCANA

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Quote from: Idrisu on September 13, 2017, 01:11:24 AM

I will like to have your view on this? Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

Not at the moment but maybe some day if it will ever happen because Bitcoin is not meant to be controlled by any government or institutions worl over and if eventually happen it then mmeans that the purpose for which Bitcoin was created is defited which I believe it will never happen.

robotroad

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I've seen many people actually ask this but the truth is the most special feature of bitcoin is that it cannot be regulated like the fiat money. So, it cannot be regulated.

nexus2k14

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Government is more interested if Bitcoin is not used for criminal activity like money laundering or hiding illegal money.
Imagine you can hide millions without any risk or easy way to trace you "stack" because is somewhere in cold storage, a time when you had buried in the ground and make sure no one will find it is long gone now. Because is a competitor to traditional money gov will not fully regulate and put the law in place on something that they cant control in 100%! What they may do is make sure is taxed and somehow controller so is harder to use to illegal things.

sheamus10

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I think if the government can regulate the use of bitcoin in a country especially if in a big country. one of the benefits is transaction money incoming can be viewed, because with technology blockchain all transactions will tranparan.

krigger

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Quote from: BTCbengi on November 11, 2017, 12:27:30 AM

I do not think the government can regulate and control Bitcoin. It belongs to the creator of Bitcoin, who is the one who has the power to decide everything. Besides, I do not like Bitcoin being bound or having too many rules about it. Because it may be the loss of freedom Bitcoin brings to the user

LOL

"Bitcoin belongs to the creator of Bitcoin"

I sure hope you are talking about the premine, because if you are talking about the code/coin itself, then you are wrong, very, very wrong. In fact, Bitcoin is owned by no one... it is controlled solely by mathematics and there isn't any centralized corporation or person who owns it.

BTCbengi

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I do not think the government can regulate and control Bitcoin. It belongs to the creator of Bitcoin, who is the one who has the power to decide everything. Besides, I do not like Bitcoin being bound or having too many rules about it. Because it may be the loss of freedom Bitcoin brings to the user

kimpena

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Quote from: Idrisu on September 13, 2017, 01:11:24 AM

I will like to have your view on this? Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

If bitcoin will be legalize to all countries in the world, bitcoin price must be stable first. So that government can regulate it, they may determine, somehow its price for tomorrow. If bitcoin will be regulated by the government agencies, it will lessen the power of bitcoin. It may be like with the gold, which is regulated by the government. They will give focus on it, and they will study it harder to knkw more deeper about it.

katinko

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I do not think so, bitcoin is already legal in our country but our government did not gives some rules and regulation about digital currency they just state that they will support some exchange of digital currency i think because government do not know how to put regulation for non cash currency they only see the good benefits to people and it can helps to increase the economy of our country

vv181

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regulating bitcoin is how government deal with decentralized digital currency because it prevents tax evasion and money laundering, but for an average user who wants to seek for anonymity and privacy will lose their right. and it's not the nature of bitcoin who had vision and mission for decentralized peer to peer cash system.

alisafidel58

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This question has been ask here for a long period of time and the answer will always be "NO", Bitcoin cant be regulated by anyone nor a powerful government cant.
Bitcoin doesnt have a main server to begin with thats why it cant be regulated.

Sled

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Bitcoin can be easily regulated by the people who are in the government and have the power to declare law that will be followed by the people in their country. Regulating bitcoin is common in some of the countries because that is how they can make sure that bitcoin has its safety and it will not become a threat. Bitcoin is a good currency but it has its own dark side so i think it is just good for bitcoin to be regulated.

Hamstead

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Quote from: dissgo on November 10, 2017, 09:37:26 PM

Probably it can be, but I don't agree since bitcoin is decentralized.
Cause when government or maybe bank is in, then it means they can push up and down the price significantly.

Although it might happen in the future but in terms of controlling its price is hardly to take. Knowing that bitcoin is decentralized, and it wouldn't have any possibilities that it could be manipulate by anyone even though it is being regulated.
Maybe its being regulated not ia@n the way of controlling but it is made to set rules and regulations to improved its efficiency and build-up a strong foundation. In this way, people will strongly trust bitcoin and other crypto currencies.

coinpimp321

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one angle that is not often heard is what happens when governments put up their own crypto and mandate general population usage.

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