Regulation of bitcoin: dream or Inevitable

Aztek

sr. member

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Quote from: bitbunnny on February 17, 2018, 12:54:30 PM

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.

Every time a certain system or technology becomes popular, It seems that the government authorities comes in to the scene, and become more intense in imposing regulations and control. But if these rules and regulations are made to benefits the users and patronizers of bitcoin, and will really make a positive impact in the economy. Then why not? We all hope that this will bring a larger market cap and wider coverage for the entire crypto world.

Cosbycoin

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Quote from: creamy08 on February 28, 2018, 01:03:03 AM

For me both will be possible.If government and banks accept bitcoin,the people will be regulated by it and it can cause a centralized currency,because a third party is present on it.The more the regulation the more it can be centralized.

That is quite easy to say but it look like a dream. The European countries still get some perks over being more oriented towards development and coping up quickly with the market trends. But situation is hundred and eighty degrees to what we are facing here in third world counters. We are hopeful for the good days when we would be easily accessible to bitcoins in official terms.

CaptainLorca

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Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I think in order to making BTC more valuable to everything and usable and interesting for everyone it should be more regulated. But the banks can't do it. Its regulating on the decentralization. As long as cryptos are handled like shares, it will be mostly an exchange object.

The banks just don't like they have no hand over it and missing out winnings from it. Its most likely that governments (probably in combination of banks) will drop their own crypto.

marcbitcoins

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Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

Regulation is inevitable because this is the only way for every country to become safe of using the Bitcoin and be benefits of using it thru Bitcoin tax. As of now many countries are now adopting Bitcoin and the numbers keep on increasing because of the positive outcome by most of the countries that legalized it in which the central banks will now fully support and will not be threaten anymore of Bitcoin existence in their country.

wantjokull

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Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

Without much argument I am sure that there will be more and more regulations in the future. Government or any financial institutes would want to acquire the blockchain but they are not acquiring it because there is not much regulations currently.

More decentralisation will reversely lead to desrtruction of national economy and thus making it weak one. That’s why it is in so ambiguous list and will take time to rebrand itself.

BTCeminjas

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Quote from: Ramtapsbtc on February 28, 2018, 03:35:50 AM

Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I think regulation on bitcoin or cryptocurrency in itself is very hard to implement because it us decentralized. All they could do is to regulate exchanges which i think would also bitcoin users will benefit because of frauds and hackings of exchanges lately. When the government will regulate those exchanges, their service to the bitcoin holder will greatly improve.

Yes it is not easy to regulate bitcoin by it self in local government of the country because as we know bitcoin is decentralized and no one person involved on this to be blamed about in bitcoin. So, implementing regulation on bitcoin that is impossible happen that's why some of the countries they are banning bitcoin their because of that reason. And talking about government bank they push away bitcoin because bitcoin is their big competitor someday, if all people have bitcoin account who was go to in the bank and save their money of course no one can do that.

Ramtapsbtc

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Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I think regulation on bitcoin or cryptocurrency in itself is very hard to implement because it us decentralized. All they could do is to regulate exchanges which i think would also bitcoin users will benefit because of frauds and hackings of exchanges lately. When the government will regulate those exchanges, their service to the bitcoin holder will greatly improve.

Budugbass

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Quote from: creamy08 on February 28, 2018, 01:03:03 AM

For me both will be possible.If government and banks accept bitcoin,the people will be regulated by it and it can cause a centralized currency,because a third party is present on it.The more the regulation the more it can be centralized.

Well but anyhow behind it.. most of the countries governments still thoughts it will disturb the country's financial system, and worried for a variety of certain reasons. But it's also possible.. in over time the most governments of each countries will insist to accepting if bitcoin is more directing to a more positively things that can advance the country and its citizens in economic life.

Notcalculator

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★Bitvest.io★ Play Plinko or Invest!

Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I think it would vary from country to country. It takes an international collaboration to regulate bitcoin itself. No single entity has jurisdictions over it. So the resulting regulations would vary country to country. I expect that 3rd world countries would be more lax on their laws, making it more "decentralized" and rich countries would have more regulations.

lvincent

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Regulating bitcoin is Inevitable although government will have a really hard time regulating bitcoin so it will gonna take some time too before it happens, in my point of view it will have a great effect in bitcoin for security and many others but bitcoin created decentralized and it is of the features of bitcoin that is interesting.

player514

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Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I feel like this will end up in a fight between the banks and the people, but ultimately there are a few people who just can't understand how these cryptocurrencies work, so they'll just side with the bank. If we're to have this debate anytime soon (within the next 1-5 years probably), then it's likely that the answer would be "no regulation, more centralization" because the banks would definitely win in the short term. They have too much of a current standing with the general population, so it doesn't make sense that they would lose out to some technological development. However, into the future, when most people do know about it, it's possible that bitcoin becomes a regulated currency.

earl07

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Quote from: arpon11 on February 28, 2018, 02:00:47 AM

I think cryptocurrencies exchange platforms should be regulated and ico projects should also be regulated as this is the major area people are using to scam people. Investment is good if you are sure your fund is going to get back to you but many people has lose money through bitcoin and there is no one or regulation authorities to report to. Bitcoin has one of the best technology and blockchain technology cannot be regulated and in reality its should not be regulated.

Yes this is true that's why the governments afraid of cryptocurrencies although it is not the main reason why they should fret.It is the services and other platforms that is scamming the people.They should be regulated not bitcoin and its technology.Bitcoins image is being negged by those people,governments should reconsider the regulations on crypto currencies.

jonaire99

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Merit: 11

It seems that imposing regulations on cryptocurrency exchangers is inevitable. Many countries are already planning to impose their own kinds of regulations and at the same time puttjng a tax on every bitcoin transaction. Not all regulations are restrictive, but it's still depend on what country you are residing. Regulation can be also a protection from the illegal use of cryptocurrencies.

arpon11

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I think cryptocurrencies exchange platforms should be regulated and ico projects should also be regulated as this is the major area people are using to scam people. Investment is good if you are sure your fund is going to get back to you but many people has lose money through bitcoin and there is no one or regulation authorities to report to. Bitcoin has one of the best technology and blockchain technology cannot be regulated and in reality its should not be regulated.

KourtneyK

full member

Activity: 294

Merit: 101

I think as the years go by there will be more of Regulation than Decentralizing especially when banks would agree to legalize cryptocurrencies. Of course at this time it is merely a dream because most banks are trying to find a way on how to go about these cryptocurrencies that have been emerging like mushrooms growing everywhere and people placing money in their bank accounts from these coins.

jeanne513lefe

newbie

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Merit: 0

I agree with the ideas of regulation cuz too many illegal activities like cheating is occurring.
But I think the regulation would not break the decentralisation system but increase the transparency.
So, I guess the important thing is strike a balance between user privacy and trading security.
And as long as no one can fully control the system directly or indirectly, the dentralisation system will still work.

esa2782

newbie

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i think it is not impossible to regulate the decentralisation system, because decentralised system of crypto is only the opposite of centralised system, it is not "outlaw" so there should be a better system that can regulate decentralisation system, the government should find a formula to regulate this instead of against and try to erase the system, because it is proved to be effective and efficient and also could create more opportunity for people and business in general.

creamy08

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For me both will be possible.If government and banks accept bitcoin,the people will be regulated by it and it can cause a centralized currency,because a third party is present on it.The more the regulation the more it can be centralized.

Kelvinid

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win lambo...

Quote from: Sanitough on February 27, 2018, 11:46:31 PM

Quote from: illnino on February 27, 2018, 10:51:20 PM

Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I believe that soon all countries will begin to regulate bitcoin and other crypto-currencies. This can not be avoided because it has a huge impact on the world's financial turnover.

As bitcoin continues to grow this would call the attention of the government and they will regulate it.
It would be easy for the small countries to regulate bitcoin if big countries have already started regulating it as they can easily copy
the regulation and will use it as a standard way to regulate bitcoin, I think this does not only apply with bitcoin but the entire cryptocurrency.

You have your point too.I think having this fact could mean regulation is now inevitable because whether we like it or not,bitcoin can soon be regulated by the officials in the government.I think it's a positive reaction since it will be easier for the investors and the exchangers to make transactions using bitcoin.

Sanitough

hero member

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Quote from: illnino on February 27, 2018, 10:51:20 PM

Quote from: hugeblack on February 17, 2018, 12:28:00 PM

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin 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. [2]

which scenarios will occur? "More Regulation or More Decentralization"

I believe that soon all countries will begin to regulate bitcoin and other crypto-currencies. This can not be avoided because it has a huge impact on the world's financial turnover.

As bitcoin continues to grow this would call the attention of the government and they will regulate it.
It would be easy for the small countries to regulate bitcoin if big countries have already started regulating it as they can easily copy
the regulation and will use it as a standard way to regulate bitcoin, I think this does not only apply with bitcoin but the entire cryptocurrency.

Topic: Regulation of bitcoin: dream or Inevitable (Read 530 times)