Topic: Cryptocurrency regulation? - page 6. (Read 21704 times)
The regulation of crypto has already began and I suppose soon every country and every user of crypto will feel it on ourselves. But the point is in that that every country accept it's own way for regulation, like Japan vs China. Now I may only guess by which road my country will go.
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
First, you need to understand the concept behind cryptocurrencies and their nature being decentralized and volatile (for bitcoin's case). Due to its nature, it is impossible to regulate bitcoin and predict the final outcome of its price. In the even that bitcoins were to be regulated by the government, then expect that it will be imposed with tax due to the sheer volume of users who transact with it, and the price might even be less volatile.
In the positive side, it may attract more people especially to the ones who have their doubts since they have the guarantee of security due to the intervention of the government. But also expect that there is the tendency for current investors to drop their investment because it defeats purpose of the investment, being less volatile. Bitcoin may not be different from any other investments like bank interests, stocks, etc. and the only factor that separates it is being digital and virtual.
To add with what you said, traders rely on the volatility of bitcoin. They are able to profit because of the constant price change.
I don't foresee bitcoin to replace fiat in the future. I think that there may be too many problems that would arise if this were to be implemented. Along with taxes, not everyone will be able to access bitcoin. Those coming from the lower class do not have access to internet thus they will have some trouble using bitcoin or crypto. I think that most people would still prefer to have a physical type of money.
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
Replacing paper money with bitcoin is not really visible yet. This is because of the way bitcoin is made. Bitcoin is digital currency and to source for it or get it, you have to go digital with internet apparatus.
So, even if the young people can go on the internet , what about the other groups like the old, infants?
I think they are different in operation so could be alternating.
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
First, you need to understand the concept behind cryptocurrencies and their nature being decentralized and volatile (for bitcoin's case). Due to its nature, it is impossible to regulate bitcoin and predict the final outcome of its price. In the even that bitcoins were to be regulated by the government, then expect that it will be imposed with tax due to the sheer volume of users who transact with it, and the price might even be less volatile.
In the positive side, it may attract more people especially to the ones who have their doubts since they have the guarantee of security due to the intervention of the government. But also expect that there is the tendency for current investors to drop their investment because it defeats purpose of the investment, being less volatile. Bitcoin may not be different from any other investments like bank interests, stocks, etc. and the only factor that separates it is being digital and virtual.
There is nothing to fear from the word 'regulation'. As long as the rules and regulation made by Central authorities are protecting users interest like privacy in transaction etc, there would be no harm in it. Even we could expect a great jump in BTC and altcoins price after getting approval from the govt because this will encourage more investors to invest in it without any fear of being illegal.
You are wrong. Originally Fiat was also conceived as a tool to stimulate economic development and was not supposed to suffer from inflation. Government ruled by money and what it led to. We all see the result. Now you want to trust politicians to regulate the cryptocurrency. Lol. No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
In your assumption, when time comes that fiat will be replaced by cryptocurrencies, I believe there is a need to regulate such insofar as it substantially affects the rights and obligations of citizenry. Where others may be deprived of their lawful rights due to others' fraudulent schemes, it is but right to give others what are due them by imposing rules and regulations for the latter's protection. It is only then we can be certain of the cyptocurrencies' strength and integrity.
Yes it should have. Just a minimal regulation is enough just to make sure the crimes like money laundering or drug deals will not happen or becomes rampant. Btc should be used for good purposes and it wasn't made to commit illegal activities.
There is nothing to fear from the word 'regulation'. As long as the rules and regulation made by Central authorities are protecting users interest like privacy in transaction etc, there would be no harm in it. Even we could expect a great jump in BTC and altcoins price after getting approval from the govt because this will encourage more investors to invest in it without any fear of being illegal.
I agree, of course, with the support of the government will increase the population and investors to engage in bitcoin so that it will bring bitcoin for better progress in the future. Although there will be new regulations but i don't think this will change the system bitcoin performance.
1. yes regulation needs to happen-there's too many scams out there
2. funding/VC's interests into crypto go hand in hand with regulation
Found this ico that just got their malta license to make esports gambling in europe legal http://www.esportsinsider.com/2017/10/unikoingold-becomes-largest-ever-gaming-esports-token/
2. funding/VC's interests into crypto go hand in hand with regulation
Found this ico that just got their malta license to make esports gambling in europe legal http://www.esportsinsider.com/2017/10/unikoingold-becomes-largest-ever-gaming-esports-token/
There is nothing to fear from the word 'regulation'. As long as the rules and regulation made by Central authorities are protecting users interest like privacy in transaction etc, there would be no harm in it. Even we could expect a great jump in BTC and altcoins price after getting approval from the govt because this will encourage more investors to invest in it without any fear of being illegal.
The concept of cryptocurrencies is based on trust. If it is fully implemented in all aspects, there is trust within the community and technical solutions applied to provide the security of network, then there will be no need for centralised control.
Got your point. But what about security? I constantly hear about hackers who steel tons of investor's money...
And goverment won't give up its influence easily. USA, Canada and some european countries tend to establish their rules on cryptocurrencies.
Hacker don't hack the system of the currency what they hack are the exchanges. Once government regulate crypto it will break the sense that it is decentralized and anonymity side will not be possible and will eventually it will lower the demand of it since it will just be like the normal currency that we have right now.
Prosecutor General's Office of Belarus recommended to the siloviki URGENT study of crypto-currencies
Law enforcement bodies of Belarus should be actively interested in and delve into new financial technologies. This was stated by the Prosecutor General of Belarus Alexander Konyuk, writes TUT.BY.
"We try to work in a trend, but the fact is that law enforcement bodies are lagging behind in addressing the problems of cybercrime, newly formed financial institutions," Konyuk acknowledged.
According to him, Belarusians should focus on these issues in Europe, where the issue of regulation of the crypto-currency market is very acute.
In this day only bitcoin has regularized by many countries like Vietnam, Japan, and South Africa. India and some other countries. All the other currencies have not gained so much popularity as bitcoin although they are also used by many people. But the mainstream is bitcoin and in the near future we will see that all the world has regularize bitcoin as their usable currency. Other currencies have risks while bitcoin is reliable. Law enforcement bodies of Belarus should be actively interested in and delve into new financial technologies. This was stated by the Prosecutor General of Belarus Alexander Konyuk, writes TUT.BY.
"We try to work in a trend, but the fact is that law enforcement bodies are lagging behind in addressing the problems of cybercrime, newly formed financial institutions," Konyuk acknowledged.
According to him, Belarusians should focus on these issues in Europe, where the issue of regulation of the crypto-currency market is very acute.
Prosecutor General's Office of Belarus recommended to the siloviki URGENT study of crypto-currencies
Law enforcement bodies of Belarus should be actively interested in and delve into new financial technologies. This was stated by the Prosecutor General of Belarus Alexander Konyuk, writes TUT.BY.
"We try to work in a trend, but the fact is that law enforcement bodies are lagging behind in addressing the problems of cybercrime, newly formed financial institutions," Konyuk acknowledged.
According to him, Belarusians should focus on these issues in Europe, where the issue of regulation of the crypto-currency market is very acute.
Law enforcement bodies of Belarus should be actively interested in and delve into new financial technologies. This was stated by the Prosecutor General of Belarus Alexander Konyuk, writes TUT.BY.
"We try to work in a trend, but the fact is that law enforcement bodies are lagging behind in addressing the problems of cybercrime, newly formed financial institutions," Konyuk acknowledged.
According to him, Belarusians should focus on these issues in Europe, where the issue of regulation of the crypto-currency market is very acute.
Investments through ICO will be legalized in Russia
reported on 8 October 2017 in the media
The fact that at present the Russian Association of Crypto-Currency and Block (RACIB) is working on a bill to legalize investments in the ICO, it became known in the summer. In the finished form, the document will be submitted to the deputies of the State Duma for consideration by the end of October.
When the government gets their hands on crypto, they'll regulate. With regulation comes fees. So hopefully in the future the fees aren't as high as they are now lol.
Firstly government should regulate about the Bitcoin then they will think about the other cryptocurrency. Still, there is the long way to go for regulating the cryptocurrency because without Bitcoin there is no Cryptocurrency at all.
It will need a regulator because what's the government's role in it? They are always look for security and control.
But I wouldn't say there's anythign wrong with that. There's some ICO's that are compliant with the government and their future looks very bright. A recent ICO is Unikoingold who recently got their betting license for esports in Malta so most of Europe can bet using fiat.
https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/
Lol. Betting this is equivalent to what to give or throw away our money. I have never been involved in gambling and don't bet. For me this option is generally unacceptable. To be honest I do not want any changes. I like the situation as it is now. But I wouldn't say there's anythign wrong with that. There's some ICO's that are compliant with the government and their future looks very bright. A recent ICO is Unikoingold who recently got their betting license for esports in Malta so most of Europe can bet using fiat.
https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/
It will need a regulator because what's the government's role in it? They are always look for security and control.
But I wouldn't say there's anythign wrong with that. There's some ICO's that are compliant with the government and their future looks very bright. A recent ICO is Unikoingold who recently got their betting license for esports in Malta so most of Europe can bet using fiat.
https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/
But I wouldn't say there's anythign wrong with that. There's some ICO's that are compliant with the government and their future looks very bright. A recent ICO is Unikoingold who recently got their betting license for esports in Malta so most of Europe can bet using fiat.
https://www.coindesk.com/regulated-cryptocurrency-betting-just-got-big-boost-europe/
Cryptocurrencies do not need regulation, but regulation may be inevitable. We are already seeing it in countries like Japan. Regulation is not purely bad anyway, because it may help convince the mainstream of cryptos' legitimacy.
I agree, but it will always depend on the government that will regulate Cryptocurrencies. The main purpose of Cryptocurrencies is decentralisation and regulation of it is the complete opposite of the concept. Fees will be placed and what would be left ? Faster transactions.
I hope that the regulator of Cryptocurrencies ( if will be implemented in the future ) will not take advantage and would still deliver the intended benefits of Cryptocurrencies without greed.
Cryptocurrencies do not need regulation, but regulation may be inevitable. We are already seeing it in countries like Japan. Regulation is not purely bad anyway, because it may help convince the mainstream of cryptos' legitimacy.
I agree, but it will always depend on the government that will regulate Cryptocurrencies. The main purpose of Cryptocurrencies is decentralisation and regulation of it is the complete opposite of the concept. Fees will be placed and what would be left ? Faster transactions.
I hope that the regulator of Cryptocurrencies ( if will be implemented in the future ) will not take advantage and would still deliver the intended benefits of Cryptocurrencies without greed.
The concept of cryptocurrencies is based on trust. If it is fully implemented in all aspects, there is trust within the community and technical solutions applied to provide the security of network, then there will be no need for centralised control.
However, we have to consider that as humans as we are, things are subject to human nature. There will always be people who can find many ways to use Bitcoin for their own good to the detriment of all other people that is why many governments will not just allow the utilization of Bitcoin without the needed regulations in order to protect the users and also to make sure that it is not something beyond their control. There is a need for a compromise because once the state will ban Bitcoin then doing business can be a big hell and Bitcoin will drive to the floor.
Yes, once this happens there will be a need for compromise between the state and bitcoin users otherwise there will be chaos. It is the government's duty to protect with its citizens and along with this, they should cater to the needs of their people and listen to their voice. In making regulations, it should be in favor to the bitcoin users and not only for the purpose and generating revenue. If they are going to impose fees, it should be at the advantage of the users and not be detrimental for them.
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