Regulation Can Also Be Protection - page 2.

superjeyy

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Quote from: supermine on January 22, 2018, 07:25:41 AM

Regulation is a good thing it makes usage of bitcoin beneficial for the government and citizen but at the same time it looks opposing the basic nature of crypto currency that is decentralization.The crypto was found to be used as a currency without any intruder in between,now government will record the transactions by means of regulation.So we have to pay taxes and other stuffs to the government as using fiat money.But regulation will protect(maybe) the crypto currency market from illegal activist.So it is a good thing right for the government and for the citizen also.

I think if the crypto currencies were totally regulated the people may lose their interest on using it because it also looks same as using fiat.So there maybe more price fall in crypto market if more countries regulate the usage.

This is why the concept of cryptocurrency can be quite complicated, you enjoy freedom through decentralization but it comes with the price of being unprotected which can bring you so much risks that you may end up with nothing in the end due to its ambiguity. In your mind, clashing thoughts would be prevalent and you'll be thinking of what's more important to uphold but at the end of the day, it's the challenge and risks you're willing to conquer and take that over powers any decision. As supermine mentioned, Bitcoin is a decentralized platform. Establishing regulations would defeat this purpose making it not the genuine Bitcoin that most people know about. On the other hand, regulations are what would protect you if something unfortunate happens in this venture, a must in transaction you do. Take your pick in what suits your situation, otherwise try to make both aspects work harmoniously to have a win-win situation.

futureofeth

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Quote from: lili song on February 10, 2018, 09:37:38 PM

Regulation can protect people is yes, regulation is like a law for country and people. So for regulations is important and make it clear.
I hope regulation can be setup in some country. Regulation very important like legalized cryptocurrency.

Cryptocurrency regulation will play the major role because i order to reduce scams happened around. Already with SEC involvement, we have seen many fewer scams with the ICO's. So regulation is next level of crypto currency future.

jaocoincrypto18

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Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

Regulation is absolutely a protection not just it can be because without the regulation the bitcoin will becoming a threat someday that instead of helping the people it might be used to put the people at risk by allowing Bitcoin to be used in illegal activities. People who don't want to support regulation are trully those selfish and greedy individuals who only think of themselves but not the welfare of entire nation.

SixOfFive

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Regulating crypto will be in favor of crypto-traders in long term scenario. This will help us to trad freely without the fear of unfairness and fraud. However, regulating crypto is not child's play, because cryptos can be accessible and transferable all around the world without any border hindrance. So regulating crypto at global level require a lot co-ordination among nations which seems to be impossible at this point of time.

kryptorian

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Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

I daresay you are still living in a pipe dream of sorts. People behind Cryptsy are well known but the main villain, Paul Vernon, has managed to escape and still hiding somewhere in Asia, while those who ended up caught in the end got off pretty cheap. It turned out that they in fact successfully pulled off the job and had to return stolen money ($8.2 million in total) to their clients at laughable exchange rates, something like $200 per bitcoin when bitcoin had already been well over $1,000, just short of $2,000 by the end of July, 2017. Would regulation have helped the victims of the scam in any meaningful way?

Apart from that, no amount of regulation will save you from coins theft. But theft in the cryptoverse means almost no chance of getting the stolen coins back. Sorry to sound like a wet blanket here but this is how matters stand in the crypto world. People would still be left holding empty bags.

Seva Roi

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Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

That's right, and I really agree ... as long as its regulation is not clear and as difficult to apply, we will be hard to make a good breakthrough for this virtual currency ,, but if viewed from the side of the profits, crypto is very promising .. so let's hope that the regulation can be applied, so that clear and no more worries for us all ..

onebtcforlife

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Quote from: TIN1114 on February 10, 2018, 12:10:22 AM

I honestly agree with you. I think having the right regulations can also be beneficial for us (crypto lovers) but I'm afraid that these regulations might be use for the wrong reasons like corruption. Well, we're never certain of the future, we can only hope for the best for both parties.

Regulation will work like share market because there won't be the sudden increase in the market. Still, we can make money but things will take time to regulate because they need to analyze before regulating and what are the major techniques to be followed by them.

richardsNY

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Quote from: cyruh203 on February 12, 2018, 01:31:41 PM

if the government allow cyptocurrency legal then strick regulation should imposed in order for us to be safe from scammer.

The government is only protecting itself by coming up with all sorts of regulations, and all that to remain at least somewhat of a controlling authority in a market that can't actually be controlled. It's time for people to understand that the government doesn't care about what happens with people -- the only thing they care about is you to pay your due taxes, and the fact that they through centralized services can still more or less control you. Governments are the biggest criminals and scammers, so who exactly is there to protect the people? If you don't obey, they'll get what they want from you by force, so tell me, how fair does that sound? Roll Eyes

Siopao

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Regulation van ensure a safer and more secured transaction. With this we can eliminate or punish scammers who keeps on destroying ghe reputation of btc. However regulating btc is a big change for cryptocurrency if this could be done with good intentions then I think it will build a better crypto community.

cyruh203

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BitSong is a decentralized music streaming platfor

regulation can be a protection for all users in order to avoid bad people who are trying to do something in the government. if the government allow cyptocurrency legal then strick regulation should imposed in order for us to be safe from scammer.

Protected101

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The problem with some government when they get huge amount of income by imposing any tax on bitcoin they want to have an authority to regulate on crypto.But the good thing is we can secured to any scammers or they will be punished if they hacked us.Legality is very important to us meaning to say they want to adapt it as our digital currency.

entrepmind23

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With the idea of freedom from those authorities provided by using cryptocurrency since it eliminates the middle man in the transaction, a regulation seems the opposite of it but it is needed because there are people who take advantage of this freedom to scam other people This is the reason why some countries decided to ban cryptocurrency because they just want to protect their citizens from the abuses that they might get by being involved in this industry.

Having freedom is a breath of fresh air but due to the people who are not contented with this freedom, they wanted more of it which would end up scamming whoever they can thus regulation is needed. As what you say OP, in an ideal world regulation is not needed but we are in real world so we need protection from all those people who have bad intentions for them to be accountable just in case.

gentlemand

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Welt Am Draht

It would be nice to see more demonstration of knowledge from regulators, and some bleedin' pragmatism too. Look at what the New York Bitlicence did. It basically denied anyone who lives there access to vast amounts of services.

On the flipside I grow very tired of 'this is a free market so you deserve to lose all your coins in a hack.' So far the 'free market' has permitted psychopathic children to steal or lose humongous amounts of money.

I'd prefer it if the means were there to nail them to the fucking wall, or not let them get started in the first place.

TooDumbForBitcoin

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I guess the well projected regulation is good for the entire industry. But it is hard to provide such at the moment. The regulators really don't know how they actually can provide some legislative frameworks.

Biscutard

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Quote from: bitcoinvamp on February 11, 2018, 11:42:07 AM

Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

Yeah i also think that if done right than the regulations implied on bitcoin can be beneficial and could be for more protection for the users. Though people who don't like to to pay tax for bitcoin would have to pay tax but other than that it will be a great advantage for users. If there are regulation in a country on bitcoin that means it will be totally legal for people and they could use it as much as they can.

Since people are trading cryptocurrency into fiat currency the government are very more concerned because a lot of them are taking huge amount without having any personal information. Until it was change because of the alarming issue of taking and putting a huge amount of money in the banks.

Hamphser

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Vave.com - Crypto Casino

Quote from: berrymenalo on February 11, 2018, 11:26:46 AM

Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

Regulation is key. However, the crypto community should take a hint from wall street and lawyers. If the cryptocommunity simply created its own self-regulatory organization (SRO), such as FINRA or the ABA, the government will be willing to mostly defer to the SRO's rules by reasoning that the SRO best understands the landscape. We can then implement better policies than we will actually be given if handed down by a confused Congress. SRO or bust!

But this thing is not really possible and I don't even know if there would people would really be interested to make a group on having such the same views in mind. I do agree on the thing that regulation can also be a protection but would really remove the decentralized feature of crypto and not all people would really love that kind of position. Advantages of such regulation is there but everybody wont really be agreed on that.

bitcoinvamp

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Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

Yeah i also think that if done right than the regulations implied on bitcoin can be beneficial and could be for more protection for the users. Though people who don't like to to pay tax for bitcoin would have to pay tax but other than that it will be a great advantage for users. If there are regulation in a country on bitcoin that means it will be totally legal for people and they could use it as much as they can.

berrymenalo

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Quote from: CryptoBry on January 22, 2018, 02:00:59 AM

In an ideal or perfect world, we don't really need regulations because people would be following the principle of fairness and selflessness but we are not in the ideal world and so we need regulations in order to protect ourselves from people who are just waiting to crunch us alive. The only problem is when regulations are set-up not to protect but to also kill or stifle the very thing being regulated.

One area of concern for regulation is accountability. For example, without regulations placed and laws enacted for the matter, an exchange can just closed its business leaving many members holding empty bags because their funds are gone the moment the site is not anymore operating. And because the people behind the site are anonymous members don't know what to do and where to seek help.

I also felt uneasy about regulations but if done right this can be for our own advantage and the whole cryptocurrency movement.

Regulation is key. However, the crypto community should take a hint from wall street and lawyers. If the cryptocommunity simply created its own self-regulatory organization (SRO), such as FINRA or the ABA, the government will be willing to mostly defer to the SRO's rules by reasoning that the SRO best understands the landscape. We can then implement better policies than we will actually be given if handed down by a confused Congress. SRO or bust!

marielbeckham

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But the excessive regulation may be one of the main issues in this field at the current moment.

lili song

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Regulation can protect people is yes, regulation is like a law for country and people. So for regulations is important and make it clear.
I hope regulation can be setup in some country. Regulation very important like legalized cryptocurrency.

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