How is bitcoin supposed to be? - page 2.

CryptoBull31

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Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

Bitcoin is not a "payment system" like paypal. Bitcoin cannot be "blocked" by the governments. Bitcoin is designed to be sovereign money independent from the governments. OF COURSE bitcoin is used by criminals, by boy do i have a news for you: criminals use money and bitcoin is money.

As for what the right regulation would be is this: ZERO regulations, absolutely none regulations at all. But since the regulations won't work anyway, the governments can come up with any silliness they want.

entrepmind23

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Quote from: Harlot on November 15, 2018, 08:18:41 AM

That is not the problem here, if there is "no correct regulation" all they can do is either create one or block it entirely, the latter is the wrong way to go as they will be missing a big opportunity for their country. When taking into consideration you will know that the world of cryptocurrencies is a big opportunity for their country's economical improvement that is why most of them try to adapt and include it in there system with regulation. This way they can both protect their citizens as well as their economic interest without banning them right away.

Well, it would be a win-win situation if both the government and the crypto enthusiasts would come to an agreement as to how to regulate the cryptocurrencies. If the government would not focus on the negative effects of cryptocurrency but they will take a look as well to the positive impact it would bring to their country then there is a chance that the corruption would be lessened which would be a step forward to have an honest government.

As for the crypto enthusiasts, it may seem that we would lose our aim of being free of control by the government but we cannot deny the fact that we still need their approval so that mass adoption would happen and make bitcoin truly a currency and not just speculation purposes.

Harlot

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That is not the problem here, if there is "no correct regulation" all they can do is either create one or block it entirely, the latter is the wrong way to go as they will be missing a big opportunity for their country. When taking into consideration you will know that the world of cryptocurrencies is a big opportunity for their country's economical improvement that is why most of them try to adapt and include it in there system with regulation. This way they can both protect their citizens as well as their economic interest without banning them right away.

Pattart

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Quote from: KorakPawon on November 14, 2018, 09:49:17 AM

Personally we can't prevent or control whether bitcoin used for good or bad things because it depends on the individual. Besides, bitcoin is decentralized where people are free and able to privately use their own money to do transaction. Every single thing basically has positive and negative effect, and so with bitcoin. We can't control, but we can promote bitcoin to be more 'positive' so that illegal things cannot be done by bitcoin, or at least no one use it to do illegal transaction.

actually this is an old topic that has been around since the blockchain was introduced, but until now there seems to be no clear solution for this. promotion will not change the intention of criminals to not do illegal transactions right? it is difficult to prevent crypto from being used as an illegal transaction..

KorakPawon

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Personally we can't prevent or control whether bitcoin used for good or bad things because it depends on the individual. Besides, bitcoin is decentralized where people are free and able to privately use their own money to do transaction. Every single thing basically has positive and negative effect, and so with bitcoin. We can't control, but we can promote bitcoin to be more 'positive' so that illegal things cannot be done by bitcoin, or at least no one use it to do illegal transaction.

Tapyaks72

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Quote from: rushel22 on October 23, 2018, 11:25:26 AM

Quote from: kastara on April 11, 2018, 11:40:14 AM

I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access

Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement.

Yeah absolutely of we will think in advance for improvement there's a possibility that bitcoin will be used for some criminal activities like hacking and money laundering. But because it is a crypto currency and digital in nature there's always chance for improvement.

Popov_popov

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Why bitcoin can not be just a digital currency, to pay for on the Internet.

rushel22

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Quote from: kastara on April 11, 2018, 11:40:14 AM

I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access

Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement.

KrishaBitcoin

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W12 – Blockchain protocol

Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

Requiring Crypto users of their complete details thru Know your Costumers documents are enough to ensure Bitcoin will be use only in legal activities.Most of the contries that regulated Bitcoin thru KYC requirements did not encounter any trouble and difficulties from the crypto users so i believed that this KYC is enough to protect Bitcoin from illegal people.

rushel22

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Quote from: kastara on April 11, 2018, 11:40:14 AM

I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access

Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement.

bajigur894784

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Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

I think it is difficult to find the right rules, where payment for crime is something that is difficult to avoid by a currency including Bitcoin because what determines is the behavior of the holders.

Maybe many think that Bitcoin is a currency that is very suitable for crime and illegal activities because that is anonymous, Of course, its wrong. Bitcoin has the right technology to combat that thing. Blockchain allows that because it is open source.

Sometimes I doubt the reason for rejecting and blocking the bitcoin payment system by the government is because of the anonymity possessed by bitcoin which is often made into an illegal activity payment instrument. Because... isn't KYC and AML more than enough!?

Dudeperfect

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Quote from: tanoe on September 25, 2018, 11:32:32 PM

Quote from: CDAnggoro on April 11, 2018, 11:27:23 AM

Quote from: Dudeperfect on April 11, 2018, 10:55:36 AM

Well, if criminals are using Bitcoin then they were using fiat currency before 2009, right? So if governments are banning Bitcoin, for this reason, the same logic should be there for fiat currencies. However, coming to the fact, governments can not ban crypto to crypto transactions and they should not blame Bitcoin for the criminal activities. Everyone would use what is convenient for him and it doesn't make any sense to destroy the whole system just because the tiny group of people are using it for illegal activities.

That's the great opinion. But if they didn't make a regulation for this crypto, that crime transaction will be easier by using this crypto. And the worst thing, maybe a lot of corruptor using it for money laundy.

yaa, I thought regulation is the top priority now. because after all, something that has no regulation, will be very vulnerable to crime. although maybe the fact is that bitcoin is not the main cause, but the anticipation step to prevent that is by banning the use of bitcoin globally.

Bitcoin is based on the blockchain technology which relies on the principle of decentralization and regulation is not possible without centralisation so regulating crypto industry is killing the core fundamental values of it. There are many other ways to organise the industry without attempting the regulations as it is not possible in case of blockchain based products.

tanoe

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Quote from: CDAnggoro on April 11, 2018, 11:27:23 AM

Quote from: Dudeperfect on April 11, 2018, 10:55:36 AM

Well, if criminals are using Bitcoin then they were using fiat currency before 2009, right? So if governments are banning Bitcoin, for this reason, the same logic should be there for fiat currencies. However, coming to the fact, governments can not ban crypto to crypto transactions and they should not blame Bitcoin for the criminal activities. Everyone would use what is convenient for him and it doesn't make any sense to destroy the whole system just because the tiny group of people are using it for illegal activities.

That's the great opinion. But if they didn't make a regulation for this crypto, that crime transaction will be easier by using this crypto. And the worst thing, maybe a lot of corruptor using it for money laundy.

yaa, I thought regulation is the top priority now. because after all, something that has no regulation, will be very vulnerable to crime. although maybe the fact is that bitcoin is not the main cause, but the anticipation step to prevent that is by banning the use of bitcoin globally.

Tigorss

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Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

Obviously if it is not a rule or there is no body that protects, the consequence is that there are many people who do not want to join, even if they have joined, maybe the others will come out.

Cupomi

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Quote from: fatirborju on April 11, 2018, 03:25:12 AM

I think the existing rules in bitcoin are very good like making KYC, using ID and using ETH address and many more, just have to run and refine the requirements that have been specified....

very good because with bitcoin we are no longer dealing with banks, because we store bitcoin in our wallets, and wallets are banks for bitcoin, for each transaction is recorded on a blockchain recording machine, blockchain is a tool to record all transactions in bitcoin, and banks -Banks in bitcoin do not serve loans or credit, so in the future bank functions will be replaced by bitcoin. Such things are very supportive in the world of commerce.

rushel22

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Quote from: kastara on April 11, 2018, 11:40:14 AM

I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access

Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement.

chickenado

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Quote from: rushel22 on September 18, 2018, 06:04:39 AM

Quote from: kastara on April 11, 2018, 11:40:14 AM

I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access

Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement.

Good thing to know that bitcoin has a bigger opportunity for improvement, because it is cryptocurrency currency and driven computer network, you can put some security features to enhance security level of the technology.

cryptocity90

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bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. I think we don't need to worry about that, because, today more and more records are in the bitcoin industry, and it's becoming increasingly clear and can be said that the use of bitcoin for illegal activities will be increasingly traceable.

Gadhoh

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Quote from: CDAnggoro on April 11, 2018, 01:32:36 AM

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime.

You have to know first what you want to know about Bitcoin or Cryptocurrency, read and know more is your capital to start, some exchanges are very important for you to choose because that will be your determinant in the deep time.

Ridwan Fauzi

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Quote from: Danilotot on August 11, 2018, 03:49:02 AM

sorry but i do not get what you want to say? bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. bitcoin is worth a lot, can I imitate what you want to say?

Do you read this question before?

Quote

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime

Have you understood?
I will provide conclusions intended by OP, many people used bitcoin as an illegal transaction so as it will make the government worried to adopt bitcoin as a payment system.

This case is often discussed in this forum, the government wants a secure payment system. There is no negative element to the payment system, while bitcoin which has a decentralized system and every bitcoin user is free to falsify their identity to create a wallet, so the government will find it difficult to track down users who are using illegal transactions using bitcoin, even though this case would be the same if someone did illegal transactions using money fiat, but at least this case will be used by the government as an excuse to not adopting bitcoin in their country.

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