Topic: Disadvantage of Going Mainstream (Read 280 times)
It is definitely true this could be happening too quickly. There is such a thing as moving too fast. The question is... are we?
Based on my assumption government can regulate bitcoin but cant completely ban .In my country its happened and got lot of attention from media . There is nothing harm going mainstreem bitcoin . If regulation has been done in any country and it will take more attention from the people in that country.
The fate of bitcoin will rely on the users act and to the government intentions. When users or none of the users on that particular country will and even try to used bitcoin in criminal activity or transactions it can help for no negative impact on bitcoin as well. And if the intentions of the government officials is for the protection of the people and not on the bankers side, legalization and regulations are essentials. In short it depends on how humans behave.
Everybody is talking about going mainstream and with Bitcoin we do expect this to be happening soon and there are many advantages when that time can come. But there are also disadvantages and one is the fact that it would be subject to much scrutiny and possible regulations.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency toon market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
Regulation will be completed in the USA and China in 2018. This is a good thing for many reasons, mostly important is the finality of the tax question. The IRS will not tax any USA transactions under 600 USD. So, you could withdraw 60k USD "tax free" by performing 100 separate debit deposits. That's a pretty darn killer deal. IRS only wants the whales. 🐳 60K is half a years salary for people in the technology field and nothing to look at tax-wise. Big break for people in the USA. What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency toon market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
Everybody is talking about going mainstream and with Bitcoin we do expect this to be happening soon and there are many advantages when that time can come. But there are also disadvantages and one is the fact that it would be subject to much scrutiny and possible regulations.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
It really depends on the government reactions. If there is a primarily negative reaction, even a preliminary reaction, to the things that Bitcoin would be bringing for a country, then there is little hope for it to change. The various government institutions are already looking at ways they can tax it, and they only ramp up their efforts as it becomes a more prominent aspect of their economies.What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
I personally would rather Bitcoin remain where it is, somewhat on the sidelines. We really don't need government intervention.
As you say in China it has became Mainstream and the reason why the goverment has taken care of them is because of the money involve, that's what actually is making bitcoins mainstream around the globe. The $.$ .
I don't think it will become mainstream anytime soon. Even if it does, it's going to be a pain to regulate. China banning exchanges kind of suck, but that's a drastic step from one of the most restrictive countries in the world. I don't see that happening in many other countries, especially if Bitcoin goes mainstream. People with actual choices will not take that lying down.
Everybody is talking about going mainstream and with Bitcoin we do expect this to be happening soon and there are many advantages when that time can come. But there are also disadvantages and one is the fact that it would be subject to much scrutiny and possible regulations.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
In my opinion bitcoin is a grassroots movement. It is p2p which means that governments can't shut it down completely. It can shut down exchanges, sure. but they can never ever stop the actual bitcoin transactions, unless they shut down the internet which is impossible.
I don't get why you think that going mainstream is bad at all. If enough people support btc then the government wouldn't even dare putting these restrictions in. Plus, we don't really need exchanges for bitcoin to survive especially when it goes mainstream. Everyone will either just accept btc directly, or trade p2p without a third party exchange.
And plus bitcoin has already gotten a lot of attention, i don't think that it's going to get much more from governments. Worst case scenario is that every exchange is shut down but i've addressed that. Not really a concern.
Everybody is talking about going mainstream and with Bitcoin we do expect this to be happening soon and there are many advantages when that time can come. But there are also disadvantages and one is the fact that it would be subject to much scrutiny and possible regulations.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
What we are seeing right now in China which is spewing out many bad news affecting the whole cryptocurrency market is just an example of what can happen when Bitcoin has already reached the mainstream status.
When Bitcoin is just small no big authorities are noticing it but when it started to spread like a wildfire the government interventions via rules and regulations started trekking in BUT we could not also just remain small as Bitcoin has really to grow if we are looking forward to its fantastic future.
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