Regulating Bitcoin | Bitcointalksearch.org

phpartisanmaster

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

Those who invest a huge amount are already paying a decent amount of transaction fee and if you are going to send it to another wallet then you need to pay a transaction fee as well so i think that it is already enough to compensate with the regulations.

The_Dark_Knight

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Quote from: maydna on April 25, 2018, 02:49:27 AM

I think soon, many countries want to make a regulation to control bitcoin but I don't think that they can control bitcoin as we know, bitcoin is far from their regulation. maybe they can control the bank account which has a big withdrawal amount and they can investigate if that income is from bitcoin or not and if it's from bitcoin, then maybe they can apply the tax for bitcoin user and I think it's part from their regulations too. if they apply the tax, then the amount of the tax will be different in the country.

Any big amount that comes to your bank account is going to be monitored and if you are unable to explain where that money came from you are going to get a visit from the tax authorities in your country and if they discover that your income comes from bitcoin then you can be sure that you're going to get a lot of trouble if you have a huge amount of not declared income.

mia khalifa

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

it seems that regulation is not really used because I think bitcoin is a digital currency that does not require government regulation in every country, if government regulation seems to make bitcoin as controlled by the government, while government should not be able to control bitcoin.

Ann Impas

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Everything can be regulated by the government. They can regulate companies involve in bitcoin or cryptocurrency, KYC and many other way to control it. It's just that once your inside, at least we have to freedom to transact but still in the bounds of the governments regulations. Yes, it can be regulated in certain ways.

laracastvue

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

I think that regulations is not required because you are already paying a decent amount of cryptocurrency in every transaction that you want to make so there is no way for bitcoins to become illegal.

Tenderino

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Who has widely criticized crypto currencies for lack of regulation? The users like me surely not. The advantage of crypto currencies is that it is not regulated. Because regulation means that the government has its fingers in the game and also try to take fees and taxes out of the system and from us users. This is exactly what we do not want!

Carreuh

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If I do not have the right to make a rule about this bitcoin but akali such as moderators or staff working in bitcoin companies maybe they have the right to manage everything related to bitcoin and hear that bitcoin holders or bitcoin miner map will be more controlled in order do not go about doing things about bitcoin and maybe bitcoin would be better.

KnightElite

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

Creating regulations about bitcoins are necessary. The governement can easily protect its citizen by implementing different regulations. The users of the bitcoins are also safe if regulations are implemented.

Aristus

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Quote from: Darwinie on April 25, 2018, 11:17:19 AM

Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

Maybe, they can formulate regulation exchanging or using if Bitcoin but controlling it i dont think so it'll be hard to controll something you cant barely monitor. That is the main reason why bitcoin is formulated so that no one can interfere or stand as middle man on your transactions.

Maybe they can formulate but maybe no. Because if there will be a regulation it could be possible that bitcoin is already invaded by someone, and if someone has already control it then that is the time that bitcoin purpose is dead and failed to execute freely from any authority.

I believe instead of giving regulations, the one that could help is to make a renovation to upgrade anything that needs to be.

Darwinie

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

Maybe, they can formulate regulation exchanging or using if Bitcoin but controlling it i dont think so it'll be hard to controll something you cant barely monitor. That is the main reason why bitcoin is formulated so that no one can interfere or stand as middle man on your transactions.

Maslate

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Quote from: chengyinoing on April 25, 2018, 02:51:09 AM

It is necessary to regulate bitcoin transactions, improve transparency, strengthen investor education and risk alerts. It is necessary for regulators to take this as a hand to build a complete regulatory mechanism for various digital currencies and promote the healthy development of bitcoin.

The government possess the power so it they will choose to regulate we do not have any choice but to adopt.
Their actions is surely be for the benefit of all, especially those who are victims of scam, when it's regulated, there will be a massive
dissemination of information to educate people and that will give positive impact to the market in overall.

VZ Chains

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

I don`t think it should be regulated very strictly because blockchain has so many advantages to give to existing businesses, new and more regulations will delay or even stop the evolution of cryptocurrency and blockchain adaption.

Sakash

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Yes, it is necessary to form a control structure for bitcoin. Nothing can be achieved successfully without control. If bitcoin control is positive then it will be good for everyone. Bitcoin will also bring success to individuals, society, country and the world.

chengyinoing

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It is necessary to regulate bitcoin transactions, improve transparency, strengthen investor education and risk alerts. It is necessary for regulators to take this as a hand to build a complete regulatory mechanism for various digital currencies and promote the healthy development of bitcoin.

maydna

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I think soon, many countries want to make a regulation to control bitcoin but I don't think that they can control bitcoin as we know, bitcoin is far from their regulation. maybe they can control the bank account which has a big withdrawal amount and they can investigate if that income is from bitcoin or not and if it's from bitcoin, then maybe they can apply the tax for bitcoin user and I think it's part from their regulations too. if they apply the tax, then the amount of the tax will be different in the country.

rambak

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Yes, I realize that Bitcoin has a lot of criticism, of course, criticism is not good about the regulation.
Regulations on Bitcoin may be made in every country and become the rule on which Bitcoin is used in every country.
Meanwhile, the more stringent KYC and appropriate legal tools will be the reason for achieving effective regulation of Bitcoin.

Ridwan Fauzi

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Quote from: jamids on April 25, 2018, 12:18:38 AM

I think there is still a need for regulation of it not just in bitcoin but in cryptocurrency as a whole because there are too many people who are taking advantage of the situation being unregulated so they can scam other people. In dealing with fiat when it comes to businesses, we are looking for licenses first before we give our money to others to grow and it shouldn't be different with crypto. The more that we should look out for our money because most of the time we don't know who we are dealing with so it is just right that we know we are dealing with a legit company by seeing their license through blockchain as well. I don't know how the other government will do it but Japan did it already.

I think japan really doesn't did what you mean. The nature of cryptocurrency is not centralized, but cryptocurrency is decentralization of all rights set by the user. If this is really happened or there are regulatory arrangements, cryptocurrency is not decentralized anymore but centralized because there is a regulatory party. We are comfortable with this condition, there is no intermediary that regulates all our investment. But if the government only announces some recognized and registered site exchange or trading place from the government system I strongly agree, because this can reduce fraud against people who want to invest in the world of crypto.

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

It's true that you say and there should have been a set of Bitcoin to make Bitcoin better and countries around the World can legalize Bitcoin. But this is very difficult because there are so many countries that prohibit Bitcoin in his country. So the good name Bitcoin becomes more tarnished.

jamids

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I think there is still a need for regulation of it not just in bitcoin but in cryptocurrency as a whole because there are too many people who are taking advantage of the situation being unregulated so they can scam other people. In dealing with fiat when it comes to businesses, we are looking for licenses first before we give our money to others to grow and it shouldn't be different with crypto. The more that we should look out for our money because most of the time we don't know who we are dealing with so it is just right that we know we are dealing with a legit company by seeing their license through blockchain as well. I don't know how the other government will do it but Japan did it already.

themughni

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Quote from: sunnex100 on November 04, 2017, 08:15:56 AM

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

I agree to regulate bitcoin but if all control I am not agree. the government only can take taxes with their regulations, especially the transaction in their country.

Topic: Regulating Bitcoin (Read 4637 times)