Topic: Regulating Bitcoin - page 3. (Read 4637 times)
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
Yes, it is possible. They can make a law that gives investors some security. For example, if the price of bitcoin goes down, the person or institution that sold bitcoins would be required to return the money invested. I think this is the best regulation they could do.
In one hand bitcoin is decentralized so it is not much expected for more regulations but risks and fear in investors part are also there, on the other hand regulations will mean more security for investors and more trust for incoming investors which is also good for the community.
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 those governments just like to place a tax on cryptocurrency because there are a lot of people today who are earning a huge amount of profit and governments cannot take any taxes from them so they want to add more regulations.
Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.
I think there is a need for Bitcoin's system. Currently Bitcoin's price is low. Many people are spreading false information without knowing about Bitcoin. People will have to refrain from these. We have to protect our resources by taking care of these aspects of Bitcoin users. Believing in Bitcoin, positive thinking should be done. We have to be careful about Bitcoin.
Regulating bitcoin can not be over emphasize, because regulate bitcoin will bring confident to public or investor, regulate bitcoin will also reduce crime that associate with bitcoin as a whole, which would prevent frauds star from penetrate to the system.
I am not sure, maybe regulating something but not regulating the whole bitcoin processes as it really defeats the purpose of being revolutionary that take away third-party banks and government from interferring on your finances. This is one of the reasons why people invests to bitcoin.
For me, regulating the whole of bitcoin is just really not a good idea, period. However, there will still be a number of people, especially the new would be investors who would love the idea of regulation to at least lessen their risks by knowing that the government have it controlled and therefore government recognizes the investment.
They can not. Russia banned it at one time, Bitcoin went to an all-time high. China banned it also for a little while, and it went to an all-time high. I cannot wait for America to ban Bitcoin....if it goes to an all-time high after that, it will mean that no one cares what America says....ever. It would spell the death of any respect for the White House, or the federal reserve. Suicide really.
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 its hard to regulate bitcoin, what government can do is regulate bitcoin trade. Only bitcoin trade can be regulate because bitcoin it self using decentralized system and its hard to regulate bitcoin
In addition to the general rules in using Bitcoin, I think other rules are not necessary. Because Bitcoin needs freedom and decentralization, it makes people love Bitcoin more than any other currency. If more regulations are in place, the rules will make Bitcoin bound and pragmatic as well as controlled by the government. I really do not like this
The freedom is already there mate and no one or government will ever take that away. However, you cannot expect converting to fiats or using fiats to buy all the time, and then government would not have any say about that. It is not possible.
Except you want to be dealing with bitcoins without using fiats, no problem, but as long as you are going to be converting your fiats to bitcoin or the other way round, policies will be involved and that is where regulation kicks in which can only be through the exchanges.
Regulating bitcoin can not be over emphasize, because regulate bitcoin will bring confident to public or investor, regulate bitcoin will also reduce crime that associate with bitcoin as a whole, which would prevent frauds star from penetrate to the system.
I am not sure, maybe regulating something but not regulating the whole bitcoin processes as it really defeats the purpose of being revolutionary that take away third-party banks and government from interferring on your finances. This is one of the reasons why people invests to bitcoin.
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 its hard to regulate bitcoin, what government can do is regulate bitcoin trade. Only bitcoin trade can be regulate because bitcoin it self using decentralized system and its hard to regulate bitcoin
Regulating bitcoin can not be over emphasize, because regulate bitcoin will bring confident to public or investor, regulate bitcoin will also reduce crime that associate with bitcoin as a whole, which would prevent frauds star from penetrate to the system.
I am not sure, maybe regulating something but not regulating the whole bitcoin processes as it really defeats the purpose of being revolutionary that take away third-party banks and government from interferring on your finances. This is one of the reasons why people invests to bitcoin.
Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
The real problem is not regulation, that may seem like it is the problem since we are lacking it but the real problem is how that governments are going to enforce those regulations, bitcoin is something that is completely outside of their control and unless you convert your money to fiat then they have no way to know how much cryptocurrencies you are holding.
Could be, because the government assumes free and risky market crypto crypt. the government is concerned to make regulations about these bitcoin fears being misused by its users.
I think it is not necessary, just walk like this alone we are still in trouble. Naturally, bitcoin is much in demand by all cripto money lovers because it is very useful and practical, and a place of opportunity to start investing with cripto money that currently costs cripto money to match financial needs.
So this is why bitcoin is in great demand .. All are looking for jobs to earn profits by investing cripto currency.
But it would be better if there are developments with cripto money which, it would be easier to start investing with cripto money, and coupled with the facility to exchange this cripto money so that we can send and receive quickly without having to go through the stages of exchange.
So this is why bitcoin is in great demand .. All are looking for jobs to earn profits by investing cripto currency.
But it would be better if there are developments with cripto money which, it would be easier to start investing with cripto money, and coupled with the facility to exchange this cripto money so that we can send and receive quickly without having to go through the stages of exchange.
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 am an opponent of the regulation of the cryptocurrency. This will lead to taxation, control ... That is, it is not in the interests of users of cryptocurrencyIf you are against the regulation then you will going to allow Bitcoin to be use in illegal activities like money laundering and you will allow some ICO that are scams to freely roaming and freely to attract investors to join their false projects then steal your hard earned money. You must think wisely on which you will prepare? regulated in which the government will benefit of taxation to help to improve the economy or not regulated but Bitcoin might ruin your country because it was illegally used by bad people?
Do you really think that regulation, however strict or even severe, will prevent Bitcoin as well as other cryptocurrencies from being used in illegal activities provided there are any in the first place? Ultimately, this use is determined by the advantages crypto offers for these operations and not limited by how much it is regulated. Fiat is regulated up to the hilt anyway, but did that shut down illegal activities involving fiat money? I guess the answer should be the affirmative 'no'.
The south Korean government has held a multi-sectoral joint emergency meeting to decide on measures to curb speculation and criminal activity in the virtual currency market. The meeting decided that minors should be banned from opening accounts and trading virtual currencies, and financial institutions would be prohibited from holding, buying virtual currencies or investing in virtual currencies. When making bank transfer business related to virtual currency investment, I am required to confirm.
The south Korean government also plans to promote legislation to protect investors and increase transparency in virtual currency transactions. To explore the relevant safety supervision measures for the establishment of virtual currency exchanges, including the requirement that exchanges curb money laundering activities and report all suspicious transactions; To clearly define the illegal activities related to the financing of coinage (ICO) and to severely punish the illegal ACTS.
I think not only South Korea, but more countries will start to regulate cryptocurrency.
The south Korean government also plans to promote legislation to protect investors and increase transparency in virtual currency transactions. To explore the relevant safety supervision measures for the establishment of virtual currency exchanges, including the requirement that exchanges curb money laundering activities and report all suspicious transactions; To clearly define the illegal activities related to the financing of coinage (ICO) and to severely punish the illegal ACTS.
I think not only South Korea, but more countries will start to regulate cryptocurrency.
It's a good idea to have some regulation on bitcoin to make sure it can speed up adopting in the real world usages. Bitcoin is just another option for the people don't want to use a bank to transfer asset.
There should really be a regulatory body who will be responsible for the protection of those with interest in the cryptocurrency even the protection of investors. I suggest that they continue to do measures to screen ico and also regulate the funding proceeds to prevent funds being connected to terrorism.
This is good points but as to these limits only though and not really necessary go further than regulating your bitcoin in general like they monitor and take a sort of control to your coins because it defeats the purpose of financial independence and revolution where bitcoin realized this financial breakthrough.
Basically it's very feasible in regulation, but however.. the negative sides/weakness of bitcoin into a high consideration for it, still many in some countries that still direct it will disturb the country's financial system because the price is never stable/fluctuating. But I believe.. as time passes, bitcoin will be increasingly responded well by the most of countries, the regulation on bitcoin will increasing if bitcoin actually gives more positive and useful sides.
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