Regulating Bitcoin - page 6. | Bitcointalksearch.org

tee-rex

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Quote from: BingoDog on December 25, 2017, 03:42:17 AM

I beleive that at some point bitcoin will be regulated in almost every country in the world. The increasing mumber of users, acceptance by businesses and impact that is having is demanding that.
Opposite to some I think that regulation doesn't have to be bad for bitcoin and regulation doesn't have to mean ban or taxation but it also can help bitcoin to be full implemented into society and finances and make boundaries between use and misuse.
I think EU will soon bring some directive that will regulate all cryptocurrencies.

I'm not quite sure that regulation would be good for bitcoin. My main concern is that people will be forced or tempted to disobey the rules once they are established due to bitcon's nature which opposes any regulation. I mean to say that when people can, for example, evade taxes, and bitcoin grants them this opportunity, they will definitely try to pull it off. And taxes may not be the only or primary concern of governments as soon as people start to massively violate these regulations whatever they might be.

Jeepney_koh

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Quote from: sunnex100 on November 04, 2017, 07:15:56 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?

If the government of the many people who use Bitcoin will create a law on how to regulate Bitcoin, then it would be possible. But, to control Bitcoin, they can't unless they will pass a law to ban bitcoin in all internet websites.

BingoDog

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I beleive that at some point bitcoin will be regulated in almost every country in the world. The increasing mumber of users, acceptance by businesses and impact that is having is demanding that.
Opposite to some I think that regulation doesn't have to be bad for bitcoin and regulation doesn't have to mean ban or taxation but it also can help bitcoin to be full implemented into society and finances and make boundaries between use and misuse.
I think EU will soon bring some directive that will regulate all cryptocurrencies.

screwUdriver

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Quote from: farwellbit on December 25, 2017, 01:50:46 AM

Quote from: tee-rex on December 19, 2017, 03:42:04 AM

Quote from: diegz on December 17, 2017, 03:43:31 AM

Quote from: yusupjatigumilar on December 17, 2017, 02:12:21 AM

I think the government will benefit a lot if the regulation on bitcoin transactions is enforced, but for now I think the government has not been able to create it even in some bitcoin countries began to be blocked as it threatens the country's economic stability.

No, it's not like that. It's going to be a hell to us bitcoin users if the government is going to regulate bitcoin. they could tax this as much as they want or they could force people to pay in every transaction they made or probably doubling their tax paying your capital gains in bitcoin and at the same time you are paying your regular tax

I support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

Enhanced interest in the bitcoin as a means of payment and related transactions has brought the attention of law enforcement, regulators and tax authorities from almost all countries. The reaction in the various countries is ambiguous - from imposing a ban or recognition as a legal tender.

Twinscoin2017

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Quote from: farwellbit on December 25, 2017, 01:50:46 AM

Quote from: tee-rex on December 19, 2017, 03:42:04 AM

Quote from: diegz on December 17, 2017, 03:43:31 AM

Quote from: yusupjatigumilar on December 17, 2017, 02:12:21 AM

I think the government will benefit a lot if the regulation on bitcoin transactions is enforced, but for now I think the government has not been able to create it even in some bitcoin countries began to be blocked as it threatens the country's economic stability.

No, it's not like that. It's going to be a hell to us bitcoin users if the government is going to regulate bitcoin. they could tax this as much as they want or they could force people to pay in every transaction they made or probably doubling their tax paying your capital gains in bitcoin and at the same time you are paying your regular tax

I support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

Well i dont agree on that if bitcoin will be regulated by the government it can really be taxable and it can really have a corresponding amount which lead to bitcoin world going down like crazy because the excitement of the unstable price and its value will change and yhere is no more investors will be going to invest a big amount because it is really bored and it can be corrupt by goverment.

farwellbit

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Quote from: tee-rex on December 19, 2017, 03:42:04 AM

Quote from: diegz on December 17, 2017, 03:43:31 AM

Quote from: yusupjatigumilar on December 17, 2017, 02:12:21 AM

I think the government will benefit a lot if the regulation on bitcoin transactions is enforced, but for now I think the government has not been able to create it even in some bitcoin countries began to be blocked as it threatens the country's economic stability.

No, it's not like that. It's going to be a hell to us bitcoin users if the government is going to regulate bitcoin. they could tax this as much as they want or they could force people to pay in every transaction they made or probably doubling their tax paying your capital gains in bitcoin and at the same time you are paying your regular tax

I support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

Marrionbitcoin

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Quote from: sunnex100 on November 04, 2017, 07:15:56 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's a possibity that Bitcoin will be regulated. Government must implement some rules and regulations to Bitcoin that help the investors to secure and protect their invested capital. Since Bitcoin helps many people and can make our nations to have better and strong economy. I know implementing such regulations will take time and need more studies for executions. However, aside from the protection and security there might have additional fees or charges for the Government to regulate the Bitcoin and other cryptocurrencies trading. But that would be ok because we know our invested capital is safe.

AVAMONEY

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Quote from: sunnex100 on November 04, 2017, 07:15:56 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 read from online article Philippine Central Bank may Decide to Regulate Bitcoin After all. 'Around a dozen exchanges are applying for approval, which is a good sign.' source http://www.newsbtc.com/2017/12/21/philippine-central-bank-may-decide-regulate-bitcoin
A possible regulatory framework is to set about trading for online shop, trading in exchanges, limit transaction deposit.

ElvenRaider

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actually, i'm agree to regulate bicoin use in daily life, but i can not agree with government control
regulation is good to protect citizen, but control is bad for it
this blockchain is invented to avoid this monopoly and central control

Quote from: eaLiTy on December 24, 2017, 02:44:15 AM

Quote from: reymartH on December 23, 2017, 12:59:49 PM

Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

If you take the over all concept ,then people who lost a fortune or any amount of money in the market crash during the last recession will understand what a new market like bitcoin will offer,the banks and the central authorities might not like the concept as investors money will be flowing to a decentralized market and they cannot control the money and for this simple reason they could make things harder.

but some country already regulated it

eaLiTy

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Quote from: reymartH on December 23, 2017, 12:59:49 PM

Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

If you take the over all concept ,then people who lost a fortune or any amount of money in the market crash during the last recession will understand what a new market like bitcoin will offer,the banks and the central authorities might not like the concept as investors money will be flowing to a decentralized market and they cannot control the money and for this simple reason they could make things harder.

reymartH

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Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

anjho.ace

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Quote from: sunnex100 on November 04, 2017, 07:15:56 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?

this is not possible, if all the country have engage on this it will have the fix amount then , though it will a big question! wiill a FIAT on any country will have the same amount as others too and will remain constant ?

Alalex

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Arranging bitcoin, we do have to save money to keep finances stable ..

Bitcoin itself has become a place where we are waiting for a great gift.

And around the world what can be done by bitcoin active members should be able to adjust the bitcoin rotation from time to time, let me not lose the bitcoin that has bothered to get it.

Time-consuming in order to manage large expenditures and not too extravagant with luxury goods.

If possible you should also save some money that is not important to spend.

We certainly can to manage this bitcoin finance.

achikomimi

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Bitcoin cannot be regulated because no one owns them, so no one can control them. But government can regulate crypto world by creating a law/s in using cryptocurrencies. If the government declares a regulation regarding the use of Bitcoin, then that way it can control Bitcoin indirectly.

william8829

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Quote from: upsidedown75 on December 23, 2017, 10:36:41 AM

The fact is that bitcoin in itself cannot even be regulated,

It is a definite possibility that the Bitcoin network could be regulated. Today there are currently 11934 running in the entire world. If a government agency and or company wanted to they could easily run their own nodes and control the ledger.

A common gaming phrase is play vs pay to win. If Bitcoin was a game it would be the former. Can you imagine the type of mining operations a first world country could produce and if they needed more money the Central Banks could just make it.

Propaganda could be used to force change to the Bitcoin protocol and allow easier tracking of funds.

Espionage would not be out of the range of possibility. Agents could be planted inside Bitcoin Core.

https://bitnodes.earn.com/

Ethinkin9

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Regulation Bitcoin is very necessary like People should know how to invest the Crypto Market, i mean it is more important to regulate the Altcoin market because lots of newbies coming they should invest safely, bad projects are stealing money and will hurt the entire blockchain.

upsidedown75

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Quote from: virasog on December 17, 2017, 02:56:47 AM

Quote from: Aya1 on December 17, 2017, 02:41:40 AM

based on their research, regulators realize that what is needed is not the strict regulation that governs Bitcoin, but rather the dissemination of Bitcoin-related education in a larger degree.

Bitcoin cannot be regulated as a whole as it is not in anybody control. What a government and other financial institutions can control is the things like they can put tax on cashing out bitcoins in local exchanges. Regulate the exchanges who want to deal with bitcoin to Fiat conversions etc.
Other than this it is not possible to control the existence and transactions of bitcoins.

Yeah, bitcoin itself is already a tough match for the government and the exchanges are the only thing that the government of any country can really lay any hold on right now as that is the only easy way that the whole idea of using bitcoin may be used by fraudulent dudes to siphon money maybe from the country into their wallets. Nevertheless, that still will not stop bitcoin from being widely used in the long run anyway.

The fact is that bitcoin in itself cannot even be regulated, the only thing that can be regulated is the activities surrounding bitcoin and that can only be done via exchanges, for now, it is even something some government are already planning to start doing, knowing that there is just no way bitcoin can be stopped or controlled and the earlier the better for them.

vegethegreat

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The reason why bitcoin embrace by people because anyone regarless of their status in society will able to earn in bitcoin in just easy way. If government will regulate bitcoin, we will expect then that they will impose tax.It will be very difficult to ordinary people to invest in bitcoin by that time.

GregH37

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Quote from: virasog on December 17, 2017, 02:56:47 AM

Quote from: Aya1 on December 17, 2017, 02:41:40 AM

based on their research, regulators realize that what is needed is not the strict regulation that governs Bitcoin, but rather the dissemination of Bitcoin-related education in a larger degree.

Bitcoin cannot be regulated as a whole as it is not in anybody control. What a government and other financial institutions can control is the things like they can put tax on cashing out bitcoins in local exchanges. Regulate the exchanges who want to deal with bitcoin to Fiat conversions etc.
Other than this it is not possible to control the existence and transactions of bitcoins.

If bitcoin is regulated, then it is very good both for bitcoin and the state. A time will come when this will happen because now it is a need of the states.

Bitcoin is the best and it deserve to be regulated and if governments are afraid of their economy so yes tax can also be imposed on the cashing out of bitcoin and beside the stabilizing of people, then it can also greatly stabilize the governments of many states, which is a very positive step.

gunungkembar

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Quote from: sunnex100 on November 04, 2017, 07:15:56 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?

bitcoin being the country's currency and having regulation? it seems this is not really in need because bitcoin is a digital currency that is not entitled to be controlled by anyone so there is no need for regulation seems.

Topic: Regulating Bitcoin - page 6. (Read 4669 times)