How do you feel about market regulation? - page 12.

endut15

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Quote from: Rage on July 03, 2011, 12:25:34 PM

There's been a lot of talk about submitting the Bitcoin economy to governmental regulation and, frankly, it scares the hell out of me. One of the reasons I'm so excited about Bitcoin is because it presents the same promise of a fully free market that cash does without all the problems surrounding a fiat currency.

Personally, I am strongly against Bitcoin regulation. I believe the market is completely capable of caring for itself and regulation would simply expand government intrusion into people lives. I can see no benefit and a lot of detriment.

What do you think? Do you think the Bitcoin economy should be regulated? If so, to what extent?

Rage

actually the rule is also necessary, because for the good of bitcoin development then the rules should be set so that everyone does not misuse bitcoin as they like, because it is also very influential in increasing the current bitcoin current

Cointertrade

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Quote from: Rage on July 03, 2011, 12:25:34 PM

There's been a lot of talk about submitting the Bitcoin economy to governmental regulation and, frankly, it scares the hell out of me. One of the reasons I'm so excited about Bitcoin is because it presents the same promise of a fully free market that cash does without all the problems surrounding a fiat currency.

Personally, I am strongly against Bitcoin regulation. I believe the market is completely capable of caring for itself and regulation would simply expand government intrusion into people lives. I can see no benefit and a lot of detriment.

What do you think? Do you think the Bitcoin economy should be regulated? If so, to what extent?

Rage

Well we don't still know the fact or reason why they regulate the bitcoin economy well in fact it really benefited a lot of people when it comes to financial. Rather than regulating this we should be thankful that there us bitcoin who help a lot of people to have a high economic status and with that we can solve the problem called poverty.

Park Minseo

newbie

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"The Bank of England governor and head of the Financial Stabilization Board (FSB), Mark Carney, told G20 members that electronic money is "not a danger" to the world economy." I was not worried about anything because it would affect the market rules with bitcoin.

Ilegendph

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Quote from: Rage on July 03, 2011, 12:25:34 PM

There's been a lot of talk about submitting the Bitcoin economy to governmental regulation and, frankly, it scares the hell out of me. One of the reasons I'm so excited about Bitcoin is because it presents the same promise of a fully free market that cash does without all the problems surrounding a fiat currency.

Personally, I am strongly against Bitcoin regulation. I believe the market is completely capable of caring for itself and regulation would simply expand government intrusion into people lives. I can see no benefit and a lot of detriment.

What do you think? Do you think the Bitcoin economy should be regulated? If so, to what extent?

Rage

The regulation itself is needed so that the government will have an issurance that their citizen would not use cryptocurrrency for illegal activities such as fraud and tax evasion. I believe that the regulation will not affect ordinary bitcoin earners.

thomas daniel

newbie

Activity: 104

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The coin ICOs market can become an effective method of payment. Moreover, the market agrees to review existing laws and consider whether it is appropriate or necessary to allow banks and capital markets to become dynamic component of the asset coding market.

mimienamphine

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Merit: 12

For the market, regulations are only structures that they are trying to put in place to frustrate the widespread and acceptance of the cryptocurrency that is reaching all the corners of this world and gaining wide use and acceptance around the globe.

queenlaurel

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Market regulations has its positive and negative sides, one of which if regulated it may cause some forms of restrictions to function regularly on Bitcoin, and again it will be good for those fake people and scammers out to gain from innocent people.

osh5

newbie

Activity: 29

Merit: 0

I feel if the government intervention does any good to the transactions and working with Bitcoins then it could prove advantageous to the users. Users have been concerned for the security issues majorly so government can charge a fixed amount on each transaction from users and in return can use this money to provide secure services to them.
On the other hand if the government intervention is for no good and it interferes with the users services and Bitcoin rules it wont be a very good idea to have it.
The main point is government should utilise the technology and promote it further so that Bitcoin can build trust and more value over time rather than suppressing it's working with its own regulations and protocols.

Caradoc Moore

newbie

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You know about the G20 meeting, which is the forum of the 20 major economies of the 19 largest economies and the European Union. The meeting went to the unification of the country for regulatory issues, the management of electronic money market!

gambitcoin53

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Merit: 25

Quote from: evoorhees on July 03, 2011, 11:41:04 PM

Good question OP.

Bitcoin should not be regulated in any way, period. However, it will be, and this doesn't bother me because deep down it cannot be regulated and we know that. So let the stupid senators make their laws regarding the exchanges and money laundering and blah blah blah. The fact that I can keep my coins secret, on a thumb drive, and transfer them across the world with nobody knowing means I care not what laws are plastered upon Mt. Gox.

And strategically speaking, if the politicians go ahead and regulate parts of bitcoin, it will lend it legitimacy and help it become even more ingrained in the economy. It will build and build. This is much better than if the politicians outlaw it fully... and we know they'll either regulate or outlaw, so I prefer the former.

And again, we know the meaningful essence of btc cannot be regulated anyway Wink

i strongly agree, even they try to regulate it in whatever means, still they cannot, the whole system is designed to be decentralized, changing it would destroy the very essence of its platform, the algorithm is finite, they can try to decipher the series of numbers but they will not succeed. especially now that the users are exponentially increasing, hundreds of transactions per seconds, even the smartest computers cannot identify the users.

Kolly

member

Activity: 208

Merit: 10

Quote from: Rage on July 03, 2011, 12:25:34 PM

There's been a lot of talk about submitting the Bitcoin economy to governmental regulation and, frankly, it scares the hell out of me. One of the reasons I'm so excited about Bitcoin is because it presents the same promise of a fully free market that cash does without all the problems surrounding a fiat currency.

Personally, I am strongly against Bitcoin regulation. I believe the market is completely capable of caring for itself and regulation would simply expand government intrusion into people lives. I can see no benefit and a lot of detriment.

What do you think? Do you think the Bitcoin economy should be regulated? If so, to what extent?

Rage

I think that regulations would be good to the the market. Lots of people are afraid to invest because of uncertainties but if governments would regulate it then it would somehow eradicate the fears of investors.

devinks

sr. member

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Merit: 250

Quote from: Rooster101 on May 20, 2018, 11:12:03 PM

Most of the countries are heading for regulation of the cryptocurrency exchanges. Some people consider regulation as a form of legalizing bitcoin and other cryptocurrency because it allow the use of the virtual but coins subject to some rules. I'm not against regulations as long as it is not strict and the right of buyers are not curtailed.

the legality for cryptocurrency now is very necessary in my opinion because indeed everyone hopes to invest comfortably so they can get a sense of security in the investment they are doing

hermae

newbie

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Quote from: tuikindu on May 20, 2018, 11:47:03 PM

Market regulation is inevitable, the government could not let the currency under the conditions of no regulation, but depends on the government's attitude, if keep the attitude of the support, the regulation will let more people to join encryption currency.

I agreebwith what you said. Regulation of bitcoin cannot be avoided. Maybe the regulation would be up to the transactions. It could also be all up to the government of what or to what extent their regulations will take. But as long as it will help us to be protected from bad people who scam, I think it would be okay.

tuikindu

newbie

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Market regulation is inevitable, the government could not let the currency under the conditions of no regulation, but depends on the government's attitude, if keep the attitude of the support, the regulation will let more people to join encryption currency.

Rooster101

sr. member

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Most of the countries are heading for regulation of the cryptocurrency exchanges. Some people consider regulation as a form of legalizing bitcoin and other cryptocurrency because it allow the use of the virtual but coins subject to some rules. I'm not against regulations as long as it is not strict and the right of buyers are not curtailed.

Mamaecrypto

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Regulation goes against the core values of Bitcoin. No way we can regulate a global decentralized infrastructure. Who would be the global authority setting those regulations? In my opnion it should vontinue to be us, the people who use it and maintain it. Once Bitcoin and other cryptocurrencies get stablished I think that law enforment of each country will create strategies to combat crimes such as money laundering and terrorism funding. For now the technology is just so new that law enforcement and government are just beginning to understand it. No matter how much regulation was created before to eradicate fiat money crimes from happening it was never completely successful. Money crimes continue to happen using fiat currency and often involving bank executives as well. So please lets keep things as is, unregulated and allow the technology to evolve and the devs to work. I am pretty certain that we the people will end up solving many of this problems much better than regulations ever will.

MinerHQ

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Quote from: Nichao on May 20, 2018, 04:05:40 AM

Regulations will be on the part fiat/crypto exchange, i'm afraid all countries will try to control it. But crupto exchange and transactions - it is impossible to regulate it.

Yes, most of the governments want to regulate the money going into crypto exchanges so that they know who is investing and can put taxes to it. But they can't regulate crypto to crypto exchanges. I feel it may help some extent because currently many investors are scared to invest their money because they are worried that governments can ban cryptos but if they regulate it then it can bring more investors to the market. It has both good and bad but from the long-term point of view, I feel that regulation may be a good option.

Siren

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Quote from: ladydark on May 20, 2018, 07:55:25 PM

It would be better if bitcoin doesn't get regulated.But no government would be ready to allow it to continue without regulation.But we should also not forget that Japan government's regulation has made it widely accepted in Japan.

What?japan does regulate bitcoin instead they adapted this and make their own currency ,this is what we need but more opposition here are against this becauseof taxation that might implementing if regulation started,they dont want income to be lessen by tax as if its not an obligation of every individuals than gaining invome to pay the goverment of theyre shares

ladydark

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It would be better if bitcoin doesn't get regulated.But no government would be ready to allow it to continue without regulation.But we should also not forget that Japan government's regulation has made it widely accepted in Japan.

13risingforce

newbie

Activity: 98

Merit: 0

If bitcoin wants to enter a country or be accepted around the world definitely bitcoin will be governed by the state or government. Because after all, bitcoin can not bring its own rules into a country, it will create financial and economic turmoil.
I think setting bitcoin is also needed so bitcoin is in tune with other currencies and can grow faster.

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