Can REGULATION Really Be Beneficial to Bitcoin? - page 4.

coffeeastronaut

newbie

Activity: 17

Merit: 0

Quote from: jakezyrus on April 08, 2019, 05:54:59 PM

Quote from: Oasisman on April 08, 2019, 05:48:08 PM

Quote from: ?? on ??

Quote from: Chikitita2004 on April 08, 2019, 01:26:28 PM

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet . kyc or regulation also have other useful feature such as filtering the abusers .

Banks not laundered money? What world do you live in? Cheesy

https://euobserver.com/justice/144524
https://euobserver.com/justice/143456

Yamifoud

hero member

Activity: 2828

Merit: 518

DGbet.fun - Crypto Sportsbook

Quote from: KennyR on April 09, 2019, 03:38:51 AM

Quote from: pushups44 on April 09, 2019, 03:22:50 AM

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

As in the above quote regulations will bring necessary support to the consumers and the investors. When regulated we can see more common people getting into the blockchain technology backed bitcoin usage. Same like this it has got flaws, when regulated it will begin to function as a centralized asset which will ruin its value and growth.

We've through this since last year but the process will take so long and until now still in pending. Perhaps, some of us will get worried also if it become regulated cause possible we have to pay taxes as mandated by the government at it could lessen our profits. But for me, it never give to me a big deal as long as we are secured and not being abuse by the authorities.

Distinctin

hero member

Activity: 2926

Merit: 657

BTC to $150k -

Quote from: pushups44 on April 09, 2019, 03:22:50 AM

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

Nice explanation, bitcoin is decentralized, it's just a currency having a value so we can determine how much we send or received.
The company that will be regulated are those who convert our bitcoin into fiat, as there could be a tax for that matter, depending on how the tax law in a certain countries. Regulation is not hard to understand, once the government decides to regulate crypto, they will send us guidelines to comply with.

KennyR

hero member

Activity: 2310

Merit: 532

DGbet.fun - Crypto Sportsbook

Quote from: pushups44 on April 09, 2019, 03:22:50 AM

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

As in the above quote regulations will bring necessary support to the consumers and the investors. When regulated we can see more common people getting into the blockchain technology backed bitcoin usage. Same like this it has got flaws, when regulated it will begin to function as a centralized asset which will ruin its value and growth.

pushups44

sr. member

Activity: 868

Merit: 281

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

Hiralbaria97

newbie

Activity: 18

Merit: 0

Yes it is.
Although a small number of countries have restricted or banned Bitcoin, most countries allow Bitcoin to be used, while a patchwork of regulations having been put in place in different. The decentralized nature of Bitcoin makes it very difficult to enforce restrictions on Bitcoin, even in those countries that have banned it. Below, we have a look at the approach of a number of different jurisdictions.

Commitments

member

Activity: 532

Merit: 10

I think regulation needed how to make our assets is safe and keep could holding for long time without worry our bitcoin and altcoin stole by other, but regulation for bitcoin price is not important.

trickyriky

sr. member

Activity: 882

Merit: 251

Quote from: princeyeboah on April 07, 2019, 11:27:29 PM

Bitcoin has survived every tribulation since its inception and has brought great profit to its investors without the help of any regulation. This means that Bitcoin does not need regulation to make its service provision any unique. Bitcoin possesses the intrinsic factors which are capable of supporting its survival and betterment on the market.

Regulation will build some limits for Bitcoin. So that, it might not reach a certain maximum and fall under some minimum. Trading may become not so profitable, although, less risky.

qwertyup23

hero member

Activity: 2282

Merit: 795

This depends on the type of regulation that the government will impose in the future. If they implement strict rules and regulations including a reflection on the tax, this might stray the attention of investors and eventually following on its price in the market.

If they implement a feature wherein they support the growth and development of cryptocurrencies including a creation of job opportunities or an implementation of laws that is not prejudicial to its creation, then expect its price to increase.

Quote from: trashman43 on April 08, 2019, 05:07:24 PM

Regulating Bitcoin will never be beneficiary to the Bitcoin ecosystem. It will rather present the opportunity for specific governing body to regulate the amount of Bitcoin in total circulation and also restrict people from sending huge amount of funds in Bitcoin. There will be an amount of Bitcoin people either sell or buy.

This depends but the outcome will most likely be like this. Regulation from the government has its benefits but it may cause damage to investors. The problem would stem from its limited supply if they attempt to regulate it like gold.

0t3p0t

sr. member

Activity: 1736

Merit: 357

Peace be with you!

Quote from: BlackPanda on February 12, 2019, 08:48:49 PM

Regulation is a legal basis for determining how Bitcoin can be used. With the regulation, everything related to bitcoin will have a clear rule.
With things like this, investors can make decisions, when regulations support the development of Bitcoin, it will make investors more convinced to invest in Bitcoin.
For me regulation is an urgent matter, when everything has been regulated then everything will be much better.

I agree with you mate. Here in my country all local cryptocurrency exchanges are regulated by the central bank and we are now comfortable dealing with cryptocurrency investments or even use it for payment as our funds are secured from those exchanges that has plan to run away. Regulation can really be beneficial to Bitcoin and one of the good results that will happen is that adoption rate might rise.

jakezyrus

full member

Activity: 714

Merit: 100

Quote from: Oasisman on April 08, 2019, 05:48:08 PM

Quote from: ?? on ??

Quote from: Chikitita2004 on April 08, 2019, 01:26:28 PM

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet . kyc or regulation also have other useful feature such as filtering the abusers .

romero121

legendary

Activity: 3234

Merit: 1214

Casinopunkz - Anonymous Crypto Casino

Quote from: trashman43 on April 08, 2019, 05:07:24 PM

Regulating Bitcoin will never be beneficiary to the Bitcoin ecosystem. It will rather present the opportunity for specific governing body to regulate the amount of Bitcoin in total circulation and also restrict people from sending huge amount of funds in Bitcoin. There will be an amount of Bitcoin people either sell or buy.

In my view the regulated usage of bitcoin will surely get more users to get into the usage of bitcoin. Now the use of bitcoin in comparison to the traditional fiat all over the world is very very small. When we talk about bitcoin as a mainstream source we are need to achieve the userbase. To this regulation is a must, because even now people have don't have a right understanding as well thinks negatively. Just a legal support from governments for people to use it needs to be issued..

Oasisman

hero member

Activity: 2814

Merit: 553

Quote from: ?? on ??

Quote from: Chikitita2004 on April 08, 2019, 01:26:28 PM

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

trashman43

full member

Activity: 298

Merit: 100

Regulating Bitcoin will never be beneficiary to the Bitcoin ecosystem. It will rather present the opportunity for specific governing body to regulate the amount of Bitcoin in total circulation and also restrict people from sending huge amount of funds in Bitcoin. There will be an amount of Bitcoin people either sell or buy.

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: jony35490 on April 08, 2019, 07:20:30 AM

Quote from: ethereumhunter on April 08, 2019, 06:00:04 AM

Being regulated will gives a chance bitcoin to spread widely in all countries, and of course, it will make people open their eyes to see that bitcoin giving a chance to them to join and try to make money. But so far, we need to be patient to see that thing will happen and we don't have any idea when the government will make a regulation for bitcoin especially in every country.

You are right regulation will bring lots of benefits for Bitcoin. It will help bitcoin to spread in whole world. So we should wait for get regulation in all country.

If the regulations are like the others, they will be unnecessary. For example, the limits will be set for everyone, and any major decision will be announced thereafter. What is the point, if there is not enough buy order to pump the price?

Rufsilf

sr. member

Activity: 1778

Merit: 309

Quote from: Chikitita2004 on April 08, 2019, 01:26:28 PM

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

Money laundering is already existed before crypto and so we can expect it to be still happening in this new form of currency.
The good thing of being regulated, is we are building a trust and confidence with the investors whereas we could think that we safe enough in here casue we are already protected by the government. Only it happens that many individuals will taking advantage of being in anonymous and doing illegal activities.

Chikitita2004

full member

Activity: 560

Merit: 121

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

jjjfff

copper member

Activity: 182

Merit: 18

Crypto.BI

The moment sovereign treasuries begin to buy Bitcoin as reserve currency is the moment BTC explodes in value again.

BTC will gain widespread acceptance when governments recognize it as currency.

Central banks know this and that's why they don't want it to happen.

misterjo

member

Activity: 560

Merit: 10

I believe that regulation is necessary for bitcoin and for cryptocurrencies, especially if we want a massive adoption as a means of payment and the implementation of technology ... but the regulation should be permissive and adoptive, not restrictive because it does not benefit us (as China and other countries)

munareal

full member

Activity: 644

Merit: 102

Cryptocurrency regulations will be beneficial to all parties in the cryptocurrency dealings such that users are no longer anonymous. KYC is needed in most crypto dealings. Scammers can easily be apprehended and will sanitize the crypto space in terms of scamming and other dubious acts.

Topic: Can REGULATION Really Be Beneficial to Bitcoin? - page 4. (Read 17884 times)