Topic: Is Regulation The End For Bitcoin? - page 5. (Read 6881 times)

I think that we had this discussion many times already here. Regulation is necessary for the future of bitcoin. We're currently lacking it.
I'm pretty sure that Andreas talked about this multiple times, you should look it up on the internet.

In any case, Bitcoin stays alive, legal or illegal.

The problem is that they will say it is all about the consumer but as with everything else government does it is about control and getting their share of the pie.

Visa and Mastercard definitely come to mind as a huge company that will lobby like crazy against bitcoin. I am not sure how much the government could actually do for them at this point, but they will most certainly try.

A regulated, fully traceable currency, sounds like a tax mans wet dream

If you are not the solely owner of your private key, you have no Bitcoin.
Nobody can seize my paper wallets.

Not the core, but widely utilised layers on top perhaps. I assume there'll be numerous bitcoin banks at some point.

Coinbase is already tracking coins run through them to gambling sites and shutting users down. The services that can be controlled more easily will be voluntary but very tempting for the average user.

That is just not possible. You'd have to change Bitcoin at it's core.

I agree with what you point out.

I read also this http://www.onestopbrokers.com/2015/03/17/isle-man-preparing-pass-digital-currency-regulatory-framework/ that I think is related.

I approve of regulation if it prevents people from having their coins nicked by the scum/ idiots that infest much of the current BTC space.

If governments attempt to enforce things like seizable addresses then I'll be going black or drifting away. I think many of them are bright enough to realise that working with it helps everyone. If they attempt to impose their will then it's going underground. It'll be a fraction of what it could be, but it'll still be out there somewhere.

Honestly, how would they know if you are using Bitcoin and not your neighbour? If they ever strongly restrict Bitcoin, encryption methods can be used to encrypt transactions and authorities would not be able to find you.

If the regulation was brought in to protect the consumer, it would be a good thing.

If they bring in regulation or apply other regulation as the USA is already doing with AML / KYC it might harm the growth and innovation of the technology.

We also have huge companies with leverage with politicians, who will do anything in their power to stop Crypto currencies from disrupting their power and income monopoly.
We all know who is making these regulations and we all know that they are “puppets on a string” for these huge companies.

In America? Probably yes as US government tends to be overactive to to the point is not funny anymore. In EU, I doubt it. But I already can tell that politicians want our money more and more. So sooner or later bitcoin will taxed along the way. And they probably do this in indirect way. That mean every service related to any form of cryptocurrency will be paying tax - just for using bitcoins.

Are you really that sure that authorities will not barge in to your house if you use unregulated coins? Think again.

no, because some people will simply flock to UNREGULATED exchanges .. which will always exist

They can regulate all they want, they cannot come into your house and tell you what to do with your Bitcoins. As long as you don't convert to fiat reguations don't even matter.

That's like saying, hey maybe being raped isn't so bad. Let's take one up the ass and see how it feels first.

In the fiat world, you've never heard of the NYSE, AMEX, NASDAQ, CME, CBOT, etc run off with their customers money.

I know you guys all want your cake and eat it too, but the mainstream won't buy into Bitcoin without consumer protection and insurance like they're used to.  Not saying alot of these banks are perfect or aren't corrupt forces, but when's the last time you've heard of a major exchange like say the NASDAQ run off with like a half a billion dollars without recourse?

Hello Bitcoiners

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I hope you are joking, why are most negative about it just take a look at the economy and control they have over us because of regulation, read up fractional reserve read up the regulations they have controlled us with then come back.

Lets not give them a chance our fathers fathers gave them a chance and that is why we are at where we are at.

I repeat nothing good can come from this, research then come back.  

Why are people too negative about regulation?
Let is give these pro-regulators a chance? Hm?
Maybe they have something good for us.

The U.S. government already regulates Bitcoin fairly well. If you want to trade them back and forth like gaming tokens they don't care. If you want to trade them for product you'd better pay your taxes. If you want to trade them for cash you better have a license. They are assimilating Bitcoin into their system very effectively. When they bust someone for a crime and confiscate their Bitcoins do they wipe the hard drives and auction off the computers? No, they have a separate auction for the Bitcoins. That says not only do they see the value of Bitcoin but feel confident they can regulate your freedom to use it as you see fit.

That's not the end of Bitcoin but it is the end of Bitcoin's radical value to facilitate societal change. It is quickly becoming nothing more than a private ACH/EFT system with lower fees (I would expect lower fees at this point because it's not processing as many transactions as ACH). Instead of the ACH/EFT system happening seamlessly behind the scenes when you use a debit card you must first purchase ACH tokens (btc) for the value of the money you want to send. Eventually that system will be seamless too. You will no longer need to go to coinbase and buy btc to send and the store will take those btc and exchange them. Companies like MasterCard or Visa will do that exchange for you. You will spend in Bitcoin using your special card and the company you purchased from will take those btc and have a merchant service automatically deposit fiat into their account. Over time items will be listed in fiat and the store will accept fiat and you will never know btc was the clearing house used for the value transfer. That's a lot like what happens today isn't it?