Regulating Bitcoin - page 13. | Bitcointalksearch.org

Kiweikoo

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Quote from: ningrum on November 09, 2017, 09:59:11 AM

Quote from: anggada18 on November 08, 2017, 02:30:12 AM

I think those who criticize only some people who do not know crypto. they are jealous of the development of bitcoin but they are afraid to take part in it because of the high risk. I think this part of the virtual world even we gamble has a very high risk of failure. and I think bitcoin will not get regulation.

bitcoin does have a high enough risk as well. because in achieving a success in bitcoin it is very risky. so any risk we still have to face.

Every business thing have risk. If you are just wanting something that give you profit but that must be attached with any risk then so sadly, you have to move for something else. When you intent to trade in bitcoin then finally you must digest the fact that there would be profit and loss and the most important risk coming along the way. So be wise and careful while deciding.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Quote from: cryptojac17 on November 07, 2017, 09:26:23 AM

Quote from: 13abyknight on November 04, 2017, 10:59:41 AM

That would be the last thing that I would want to happen with Bitcoin. Many countries have already given it a shot, the latest of which to join the list is Australia and this only imposes restrictions on the common Bitcoin users in a particular country. If all these nations rally up and determine to regulate cryptocurrency, its going to be a hard road ahead.

Central bank of Philippine has started to fave the away of regulating Bitcoin they are making polices that is accommodating in nature for BTC operators
in the country not to preempt the operation but for security reasons to prevent it to be used for terrorism financing and money laundering activities. I think this is a welcome development for a country like Philippines because this country is exporting workers around the globe and BTC is a big help for their remittances because its economical and fast.

Stuffs like this is really a welcome development and will usher in new era for the cryptocurrency. The governments have so much to benefit from it than fighting it and without being tough on the users; those benefits would create much more development for the economy of the country than worsen it.

As long as the regulatory policies are accommodating like you said, we will keep seeing much more adoption and then it becomes a win-win for everyone.

goaldigger

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Many traders choose bitcoin because of them being anonymous. If the time will happen that there would be a regulation on bitcoin, i think there would become charges because there would be a company that manages the system of bitcoin traders and their accounts. But i think this does not happen because of the consequences.

raven7886

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Quote from: Domenc on November 08, 2017, 02:43:51 AM

Bitcoin is a decentralised system, so regulations can only be implemented on government levels and at local exchange level. Further across the globe no rules can be imposed between 2 users as peer to peer transactions take place. Government is worried because of the misuse and money laundering happening due to Bitcoin, so they may try to impose regulations when people are trying to convert Bitcoin in local currency. But all over regulations in Bitcoin are hard to happen.

Right. Peer to Peer transactions cannot even be monitored. I can still decide to directly make payment to someone in bitcoin based on the value at that time directly to his wallet. People do not understand that regulating bitcoin is not the same as controlling bitcoin or centralizing it.

It will only ball down to the activities that surround the exchanges and those who may want to convert to fiats, would be the one to stick with the regulations if they like since they need the service at that moment.

yaloyalo

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I think regulation BTC is very difficult thing to make.

valid46

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I think that is the point of crypto - to not regulate it!

Capt00

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We believe bitcoin's credibility since from the start and we dont encountered any trouble from it.
Planning for regulating bitcoin is just a way of changing its system, and I believe it would not be necessary to have it.

Drixy

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reading.......

Quote from: coin royal on November 04, 2017, 08:36:06 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?

yes i know that currency has been widely criticized because of lack id regulation but we know that bitcoin is that type of currency which people like and invest daily and if we see people all over the world invest in bitcoin only because bitcoin is full of benefits.

It has no id regulation because it is an anonymous currency with ni tracking code or any strings attached to that. Regulating bitcoin on some countries cant be helped because they only controls people in their states and not bitcoin itself though it may have some consequences that it may be possible to move downward of the bubble like value of bitcoin.

davinchi

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Quote from: Sled on November 08, 2017, 12:14:04 AM

Quote from: ferdaus on November 07, 2017, 10:00:50 PM

I think the governments of different countries have already tried to do a research for making a law about Bitcoin. What government is controlling and it is hoped that the government will not disappoint Bitcoin users and allow Bitcoin to use it for their citizens.

I also think the same thing like you and i believe that the government are now getting into bitcoin research because they want to clear things up if accepting bitcoin will give them benefits for accepting it and letting their citizen to use it or not. Bitcoin regulation will help also to make sure that the things will not go really bad.

I think if bitcoin become regulate in countries so it will be more popular and its users will be start to invest more and other people will also start to join bitcoin which will make bitcoin more powerful and stable in market so regulating bitcoin is a very good idea and I think bitcoin is also want for this moment because bitcoin know how to achieve goal.

Finestream

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Quote from: Allan Ramanda on November 13, 2017, 09:47:18 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?

that's why bitcoin is still illegal today. because no bitcoin can manage. bitcoin has been growing because everyone is very supportive of bitcoin, because it can benefit all people. such as investing and trading. and if the government has already begun to act, then bitcoin should start making new rules, or something like that.

Bitcoin will never be illegal when it will not be regulated, there might be some country who consider bitcoin as illegal but I did not mind it anymore as I can see that bigger countries are supporting bitcoin. Despite the fact that it can also be use for illegal activities, that is the not reason why it should be considered as an illegal currency, the government has to face this challenge and they must ensure they can still apply the law to prevent using bitcoin into illegal activities.

henmark

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Quote from: Coffee135 on November 07, 2017, 09:32:53 AM

Quote from: cryptojac17 on November 07, 2017, 09:26:23 AM

Quote from: 13abyknight on November 04, 2017, 10:59:41 AM

That would be the last thing that I would want to happen with Bitcoin. Many countries have already given it a shot, the latest of which to join the list is Australia and this only imposes restrictions on the common Bitcoin users in a particular country. If all these nations rally up and determine to regulate cryptocurrency, its going to be a hard road ahead.

Central bank of Philippine has started to fave the away of regulating Bitcoin they are making polices that is accommodating in nature for BTC operators
in the country not to preempt the operation but for security reasons to prevent it to be used for terrorism financing and money laundering activities. I think this is a welcome development for a country like Philippines because this country is exporting workers around the globe and BTC is a big help for their remittances because its economical and fast.

It seems to me that it is the duty of law enforcement. Let them show the effectiveness of their work. To accuse bitcoin of illegal business is not true. I see this as an attempt to shift the blame to bitcoin. Everybody talks about it but nobody provides any evidence. This is another argument against having to agree to the legalization of bitcoin.

The law of the country in some areas of the world is not accepting the bitcoin and they are not ready to make the bitcoin as the legal money and they are not making the bitcoin as the regular currency but in some of the areas the bitcoin is increasing in the value and the price so I hope the bitcoin price and the value will increase with time we should wait till the bitcoin is making the space and the income so it will happen soon.

CuriousGeorge

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KUWA.ai

Quote from: uray on November 11, 2017, 05:13:40 PM

Quote from: batang_bitcoin on November 11, 2017, 03:46:42 PM

If bitcoin will be regulated, it's no longer decentralized since this coin has been as a decentralized cryptocurrency but if the government starts to step in. It will remain decentralized but as a currency, it will no longer portray what it used to be. And it's hard to determine if transactions on bitcoin are being used to commit such crimes, they are really hard of doing it so. Others like to see this happening but it will be unlikely before on where we are now.

Bringing in regulation from a government does not mean that it will be centralized,the network will always be decentralized and the only thing a government can do is to regulate the flow of money to and from bitcoin and this is a free world and there are many options to over come these hurdles,so it is not an issue.

Just curious which part of the regulation could magically change bitcoin from decentralized to centralized, even with p2p system which bitcoin carry.
there's no way for it, the regulation exist just to regulate and keep this thing not out of control atleast in the government coverage. the point is that, regulation sometimes can be good for the health of bitcoin ecosystem.

Allan Ramanda

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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?

that's why bitcoin is still illegal today. because no bitcoin can manage. bitcoin has been growing because everyone is very supportive of bitcoin, because it can benefit all people. such as investing and trading. and if the government has already begun to act, then bitcoin should start making new rules, or something like that.

waynechong1995

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swing!

It's possible to still regulate their people getting involved in bitcoins through standard KYC(know your customer) procedures among public services in cryptocurrency, it seems to pretty common among buying and selling platforms like LUNO or Localbitcoins are implemented them strictly when exchange volume exceed a certain range, while the local government could obtain these documents for other purpose such as taxing of any monetary frauds. Still it's still not good enough, or i would say unable to regulate bitcoin except putting a hard ban on penalty from using it, otherwise there is no way to trace small transaction when an address is not exposed to anyone, not mentioned that coin which further encourages anonymity.

Tantlizbat

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Quote from: Dilladupak on November 07, 2017, 07:35:18 AM

I think especially bitcoin users, I think not too long to see the rules and each government, and we still do not know what kind of government regulations that apply to bitcoin, we live it so that everyone bitcoin users now more trusting because it has rules as previously.

As bitcoin system will be implement governments will also apply some rules and regulation to it otherwise mafia will use this coin for its sake and as I am thinking that government will ask to reduce its anonymity and that’s the major thing and then taxation will be applied on this coin and that will bring a lot development in the accepting regions bitcoin is the true beneficial thing that can totally change regions,

Blue Bell

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Quote from: Dalmar on November 09, 2017, 02:20:58 PM

If governments has power to control whole blockchain system i am sure they will wanna to own it Wink

Maybe this is the reason they are so angry against this transparent system and looking for ways to track transaction on blockchain.

I think it’s a very good idea and I’m sure that it will help to bitcoin and it will also help to the users so I think bitcoin must be regulate as soon as possible and I think once if bitcoin become regulate so more countries will accept bitcoin and investors and daily trader will be increased so when demand of bitcoin high for sure its price will be also high.

windsee

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I think Bitcoin just can't be regulated by design. The only way that can be regulated is the exchange between Bitcoin and fiat currency / physical products.

sumangs

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They have no right to regulate bitcoin since they do not own it. They should regulate it once it is converted to fiat money not the bitcoin itself. It is not the fault of the user if he uses the bitcoin for online transaction but if it means to be offline then the user needs to convert it and that is the only time it will be regulated by putting some tax on it.

Hamstead

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Quote from: Flomo on November 12, 2017, 05:35:39 AM

I do not think bitcoins need to issue specific rules in their use, but regulations need to be used on Ico projects that will form new coins, to reduce fake Ico projects.

Even though we are implementing rules regarding ICO project but I don't if it will be effective. Because it is really hard to find out which one is legit and fake. And mostly all ICO project have their own platform and very attractive reward for investors that can make their head turn back. I think it is better not to regulate bitcoin anymore as it gives nothing in the community.

Finestream

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Quote from: Flomo on November 12, 2017, 05:35:39 AM

I do not think bitcoins need to issue specific rules in their use, but regulations need to be used on Ico projects that will form new coins, to reduce fake Ico projects.

That's one of the main concern of the government why they are regulating bitcoin and the entire cryptocurrency, this is to avoid scam because investors might think they can make money easily investing in ICO but they do not have security on the developers when they are not registered to the government. In addition, the growing problem of money laundering now will not be solve if they will use cryptocurrency because the agency might be having a hard time to trace all suspicious transactions.

Topic: Regulating Bitcoin - page 13. (Read 4637 times)