Regulating Bitcoin - page 2. | Bitcointalksearch.org

binhvo1505

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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 with you, bitcoin really very lack of regulation. Hackers and fraudsters can take advantage of this lack of bitcoin to cheat people.
The law does not have a responsibility in the Crypto market, so this is a very bad omen of Crypto. I hope in the future the government will impose taxes on Crypto and protect the traders like us.

winterland

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Quote from: 8Habits on April 23, 2018, 06:26:49 AM

Quote from: ?? on ??

Yes indeed with this bitcoin certainly requires a very important regulation for a country so one does not become hesitant when going to invest in bitcoin and able to generate profit in the future.

government regulations mean control over bitcoin - I may be ok with some parts of the trading and investing but not full control like deciding some caps as to daily cashout of bitcoins, putting taxes in all of bitcoin transactions, asking for full identity disclosures to the governing regulative body, and the like - because all of these defeats the real purpose of bitcoin being independent, bold, and revolutionary way of handling our own money.

As you say it depends on the regulation, it's obvious that some regulation is needed for example to avoid that people are able to create fake exchanges that eventually scam people, so we need some oversight over the market but at the same time we do not want every single thing to be regulated or that has the potential to kill the market of cryptocurrencies

8Habits

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Quote from: ?? on ??

Yes indeed with this bitcoin certainly requires a very important regulation for a country so one does not become hesitant when going to invest in bitcoin and able to generate profit in the future.

government regulations mean control over bitcoin - I may be ok with some parts of the trading and investing but not full control like deciding some caps as to daily cashout of bitcoins, putting taxes in all of bitcoin transactions, asking for full identity disclosures to the governing regulative body, and the like - because all of these defeats the real purpose of bitcoin being independent, bold, and revolutionary way of handling our own money.

Zenixin

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I think it will not happen, may some government will ban the bitcoin in their country but they can't regulate it because there's no operator controlled the running of bitcoin.

it is just due to being decentralized od bitcoin that no one can manipulate it, regulation will be based to a government if they will allow it to be used in the different establishment.

Lexurdania

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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?

Its hard to regulate bitcoin because bitcoin data not in certain country. Regulation maybe on exchanger because government want collecting taxes from crypto trade, but to regulate something like bitcoin is almost impossible because bitcoin doesn't have management and transaction data spread around the world

Activitycoin

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Quote from: JPablo on April 17, 2018, 07:00:04 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?

Honestly to regulate bitcoin is to regulate our self on how we should follow the rules and especially to be positive always of what we are going to do to help bitcoin.

Yes we cannot make it regular but at least we can play our role for the regulation of bitcoin. if we will use bitcoin as much as we can use then I think bitcoin will get more famous and as we know that bitcoin is helping our community to get jobs and bitcoin is allowing us to pay our bills and our renting for house so we should encourage our government to make this unique profit worthy and beneficial currency as legal currency, bitcoin is very strong and people are feeling free to use bitcoin so I think bitcoin will be legal currency very soon.

fluctuations

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Quote from: Ngewex Yuk on April 17, 2018, 11:44:09 PM

Quote from: a7goo on April 17, 2018, 12:51:13 AM

I think that regulating crypto currencies is almost impossible for governments around the world. They can only "adapt" to all the mechanisms of the crypto. Where we are now ......... it is impossible to go back or cancel ...... only adaptation

nothing is impossible, if bitcoin users continue to increase then there is no reason for the government not to make regulations, let alone other countries have made regulation and legalize cryptocurrency then this will give a domino affect.

it's correct . Nothing is uncontrollable. If there is a poison, there must be an antidote. In this world there is always balance of yin and yang to survive. Actually, this market I see is not big enough to be able to control and set the rules with it.

Ngewex Yuk

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Quote from: a7goo on April 17, 2018, 12:51:13 AM

I think that regulating crypto currencies is almost impossible for governments around the world. They can only "adapt" to all the mechanisms of the crypto. Where we are now ......... it is impossible to go back or cancel ...... only adaptation

nothing is impossible, if bitcoin users continue to increase then there is no reason for the government not to make regulations, let alone other countries have made regulation and legalize cryptocurrency then this will give a domino affect.

Jazvebtc18

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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?

Absolutely I agree with you! Bitcoin should have a regulation in order to have a good system. Cryptocurrencies and blockchains are here to stay, so now more than ever it’s important governments get ahead and regulate it correctly.

From the banks point of view, this is understandable. Without tight regulation, they fear the funds could be used by criminals on the dark web or for money laundering. If they are part of that process, they could get fined or shut down. It simply isn’t worth it.That’s why the solution is to regulate the exchanges. If that happens, then the big banks will open their doors, making life easier for exchanges and investors alike. The banks will win from this too, because they can stop customers drifting away to more daring competitors.

Seeker#9

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Regulating bitcoin is possible and many governments around the world have been plannng jmpose regulations to prevent the cryptocurrency from falling into the hands of elements that deals with the money laundering, drug trafficking and other illegal activities. This regulation might include cryptocurrency exchanges and they all subject to monitoring by the appropriate government agencies.

Sitipxz

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Quote from: SushiMonster on November 04, 2017, 09:04:46 AM

The lack of regulation of government with bitcoin is making its security easy to breach. Well although a lot of senior users here are very much knowledgeable in securing their bitcoins, a majority of new users - like me doesn't have an assurance that my bitcoin is safe. I'm just storing it on an online wallet because my bitcoin savings is not that big. However, I'm not sure that if ever my account got hacked, I can still process to make a run for it or like file a complaint. If the government is controlling/regulating bitcoin, there will be protocols that will be followed in every transaction, and they can trace any illegal doings. However, they can get a significant amount of money from bitcoin, well I just hope that if that time will happen, they will use the money for the people of the government.

esa2782

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well, regulating bitcoin means government, that's what come to my mind when word regulation come up, of course it is not generally correct but it is not wrong either, because when we say regulation, it will be followed by institution and sanctions, so probably the only adequate institution is the state, so how far and how willing are the government around the globe to finally acknowledge and accept bitcoin as a digital currency and as a technology and taking a real action to let bitcoin become integral in daily basis and keep stand aside as a "guardian" angel, that would be perfect.

JPablo

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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?

Honestly to regulate bitcoin is to regulate our self on how we should follow the rules and especially to be positive always of what we are going to do to help bitcoin.

KorakPawon

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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?

actually bitcoin rules already exist, but not on the currency but in the wallet, where some wallets to store bitcoin already using KYC, I think that is enough to set bitcoin, where KYC serves as security guard our money on the internet, as long as we do not forget the account and password then our money will remain safe in it.

genset88

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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?

There is no way to adjust the price of Bitcoin in the market if it comes to adjustment take advantage of the time you have to focus on market research, I think that Bitcoin is the most abundant currency in the market. But it still lags behind many other currencies in the world.

Beabtc11

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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?

Definitely Yes! I think it is possible to come up with a regulatory framework around bitcoin. In that case bitcoin can be used at the same rules and it can be easy to introduce to other people. If bitcoin itself was regulated against, users could simply trade it for another cryptocurrency, and then cash that one out instead. With hundreds of cryptocurrencies now in existence and more emerging all the time, it would be nigh on impossible to stop unless all currencies were barred.

As regulation in other industries has shown, sweeping legislation is incredibly complicated to implement and even more difficult to enforce.The effectiveness of any such regulation also assumes the need to cash out. Many people see cryptocurrencies like bitcoin as an evolution of existing currency.

Ca.ming14

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Yes, I think it is possible, because Bitcoin has been surging and falling in recent weeks. And it seems mostly to come down to one thing: regulation. Many governments have suggested they could introduce such rules. But it’s still not clear what they’d look like, or how they’d arrive.

ClackKendi

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The European Union is calling on allies to accept trade in bitcoins and countries that have adopted bitcoin are having policies to manage bitcoins as well as control it and collect taxes on its citizens. owns much bitcoin.

_noname_

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The opportunity is now there mate and nobody or government will ever take that away. Nonetheless, you can't anticipate that changing over will fiats or utilizing fiats to purchase constantly, and afterward government would not have any say in regards to that. It isn't conceivable.

But you need to manage bitcoins without utilizing fiats, no issue, however as long as you will be changing over your fiats to bitcoin or the other path round, approaches will be included and that is the place control kicks in which must be through the trades.

zhea

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It is hard for the government to regulate bitcoin though I think this is for the protection of the investors and to attract more investors. Another purpose of the government is to collect taxes from bitcoiners because government is aware that there is a big earning in here and they can collect higher percentage of revenue. Government maybe in the future can regulate bitcoin but can't control over it because there are big investors don't allow and want that the government will take control over bitcoin.

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