Regulation seem like the only option left - page 5.

goldkingcoiner

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Quote from: JangoUnchained on February 28, 2022, 12:56:58 AM

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

You need to start thinking more positive. I understand that the government is imposing and scary and will do their outright best to scare people into a neat line. But the truth is, Bitcoin is not something they will ever be able to regulate. Not entirely. They can regulate centralised businesses and exchanges that work with Bitcoin. They can easily do that. But centralised platforms are the wrong way to go. Always remember: Not your keys, not your coins. Keep your coins away from your identity and third party wallets. And be sure to keep good OPSEC.

That way, nobody can find out about or control the Bitcoins in your wallet.

wxa7115

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Quote from: AmoreJaz on March 16, 2022, 04:53:46 PM

it is a fact that if we need more adoption from people, regulation is one way to do it. because these noncrypto users will have more confidence on dealing with crypto if there is government's intervention. it will also discard the thought that crypto is all about scam, though we don't think that way for all crypto users already. but we can't dictate the opinion of others, it is what they think because of what they read or see from the media. so if we need more people in the crypto market, regulation is the key and we are heading in that direction already.

True, but a balance must be reached and that is not something governments want, lets be honest the people at the core of most governments around the world are control freaks, and anything that does not comply with what they want becomes an immediate target for a takedown.

So while we need more adoption this adoption cannot come about by sacrificing the principles that govern this market, because if that happens then we may get a lot of adoption but I know that I would probably leave this market as it would no longer be a true alternative to fiat as it is right now.

LUCKMCFLY

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Quote from: bitgolden on March 14, 2022, 09:18:06 AM

Quote from: romero121 on March 12, 2022, 09:29:12 PM

Initially it was the banking system, by the time people feared of saving the money in banks and accumulated it in treasuries and vaults. Slowly people got adopted to the banking system, by then internet made an evolution. People started using banks, but feared of using internet services for banking needs. Slowly it got transformation towards different types of cards. People are getting used to it. Further the app payments have made everything simple. Now everyone who have a smartphone find it the best. It takes time to reach the end user, so right now it is crypto and it takes little time for every country to regulate it's usage.

Regulation will definitely make it even bigger. Even I remember (and I am not even that old) the period when people used machines that swiped the whole card and send information to the bank, wait for a response, signature and many other horrible methods that took so long. Mortgage wasn't even a big deal at the time when I was born, it was possible but not this easy. Nowadays we are sending money to other side of the world in 10 minutes and we are calling it slow.

So, obviously crypto will take over the payment processing and using it globally. I still believe that when you go out to eat something, paying with card is still easier than crypto. But, international money transfer will definitely turn to crypto a lot more.

Yes, I understand very well what you mean, when in 20011 when I graduated, there was something that was calling my attention and it was infrared technology, and I wanted to make a system that through a bar code would pass things and at once they would take out accounts and summations, like in supermarket checkouts, is what we call RFID technology, then some time later I did not get enough information to optimize those processes, then with the appearance of blockchain that process is possible only by replacing the bar code with the QR code that can even be associated with any wallet, since everything is different, faster and with more technology.

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Quote from: Captain Corporate on March 16, 2022, 04:48:02 PM

Quote from: Fortify on March 16, 2022, 03:33:43 PM

Regulation doesn't mean they can control crypto, that just means they can decide on what you can do with it legally. If there is a good amount of regulations, and it works out, it will allow crypto companies to grow hugely. If crypto companies grow huge in a legal manner (like coinbase but dozens of it) then they could lobby the politicians to get more. Look at financial institutes, wall street keeps losing money and keeps getting billions every single day, and they "pay it back" only after they made money with it from us. So all in all it would be a lot better for all of us involved to just let regulations happen, and then hope we grow big enough to influence even better regulations.

it is a fact that if we need more adoption from people, regulation is one way to do it. because these noncrypto users will have more confidence on dealing with crypto if there is government's intervention. it will also discard the thought that crypto is all about scam, though we don't think that way for all crypto users already. but we can't dictate the opinion of others, it is what they think because of what they read or see from the media. so if we need more people in the crypto market, regulation is the key and we are heading in that direction already.

Captain Corporate

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Quote from: Fortify on March 16, 2022, 03:33:43 PM

Regulation doesn't mean they can control crypto, that just means they can decide on what you can do with it legally. If there is a good amount of regulations, and it works out, it will allow crypto companies to grow hugely. If crypto companies grow huge in a legal manner (like coinbase but dozens of it) then they could lobby the politicians to get more. Look at financial institutes, wall street keeps losing money and keeps getting billions every single day, and they "pay it back" only after they made money with it from us. So all in all it would be a lot better for all of us involved to just let regulations happen, and then hope we grow big enough to influence even better regulations.

Fortify

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Quote from: JangoUnchained on February 28, 2022, 12:56:58 AM

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

I don't know how you could see anything but regulation as the future of cryptocurrency. The money supply is ultimately controlled by governments and central banks, even if crypto has disrupted that slightly - the enforcers like the tax offices and police for different juridictions are going to support those financial institutions. Unless crypto is ultimately regulated with proper paper trails and transparency to governments then it will always be a potential target for take down. Cryptos biggest problem right now is wasteful energy usage, so unless it learns to conform to the standardized set of rules that other financial companies face it will be fighting multiple battles which will make it harder to win.

wxa7115

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Quote from: dezoel on March 10, 2022, 11:01:34 PM

To be precise, most of us are just worried about the privacy we are going to be losing when the government starts to regulate cryptocurrency. Most of us would like to have privacy when we’re making transactions online, we would like to be able to send money to anyone to anywhere around the world without having the government question how and where the money is going to.

So, I believe that’s why a lot of us here don’t really want the government regulation. Apart from that,it is not really much of a problem to us. But any one of us can still avoid this regulation from the government, originally Bitcoin is peer to peer, so you can just make use of it by using decentralized wallets or non custodial wallets, so that every transactions you make with the blockchain wouldn’t be traced by anyone.

It depends on the regulation and how strict it is, I think we can all acknowledge that if you want to convert your bitcoin or any other cryptocurrency to fiat currencies then some sort of regulation is going to take place because the government is not going to allow you to use freely their system without any control.

However some governments want complete control and oversight over all transactions, even those that only happen on the blockchain and that have nothing to do with fiat currencies, and that is something that we do not like, and even more importantly it is something that they will never be able to regulate fully, because this market was designed precisely to resist that kind of control.

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Quote from: romero121 on March 12, 2022, 09:29:12 PM

Initially it was the banking system, by the time people feared of saving the money in banks and accumulated it in treasuries and vaults. Slowly people got adopted to the banking system, by then internet made an evolution. People started using banks, but feared of using internet services for banking needs. Slowly it got transformation towards different types of cards. People are getting used to it. Further the app payments have made everything simple. Now everyone who have a smartphone find it the best. It takes time to reach the end user, so right now it is crypto and it takes little time for every country to regulate it's usage.

Regulation will definitely make it even bigger. Even I remember (and I am not even that old) the period when people used machines that swiped the whole card and send information to the bank, wait for a response, signature and many other horrible methods that took so long. Mortgage wasn't even a big deal at the time when I was born, it was possible but not this easy. Nowadays we are sending money to other side of the world in 10 minutes and we are calling it slow.

So, obviously crypto will take over the payment processing and using it globally. I still believe that when you go out to eat something, paying with card is still easier than crypto. But, international money transfer will definitely turn to crypto a lot more.

romero121

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Initially it was the banking system, by the time people feared of saving the money in banks and accumulated it in treasuries and vaults. Slowly people got adopted to the banking system, by then internet made an evolution. People started using banks, but feared of using internet services for banking needs. Slowly it got transformation towards different types of cards. People are getting used to it. Further the app payments have made everything simple. Now everyone who have a smartphone find it the best. It takes time to reach the end user, so right now it is crypto and it takes little time for every country to regulate it's usage.

LUCKMCFLY

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It is not a lie that all the governments of the world want to enter the world of crypto and BTC, but that they do not make it known in such an obvious way is something else, governments enter BTC and the crypto market with the best excuses, that they cannot be blind before certain economic technologies and that the BTC can be one of those ways that money can be managed, then through the regulations they can enter, that is where the core of everything is, and after they make their regulations they can enter without problem, but that they have some control, which is already something that I do not agree with because this economy was created so that they could bypass prohibitions and the hands of third parties.

taufik123

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Quote from: Abiky on March 11, 2022, 01:12:32 PM

-snip-
Depending on how fierce regulations are, people can either embrace Bitcoin or abandon it completely. If a government imposes crypto-friendly regulations, then you can expect adoption to grow within that country at a fast pace. Otherwise, not. I wouldn't worry much about this as long as decentralization wins in the long run. Just my thoughts Grin

in some developing countries crypto regulations are not too strict, even the regulations provided are only limited to commodity assets, which means that they do not completely prohibit or completely allow them. There will still be opportunities for greater adoption.
In some developed countries such as China, which has banned bitcoin, of course it is not allowed to make any transactions using bitcoin. Even bitcoin miners are expelled and are not allowed to set up bitcoin mining companies.
It is hoped that in the future more countries will start adopting bitcoin or cryptocurrency and of course it will coexist with fiat.

Abiky

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Quote from: taufik123 on March 10, 2022, 03:48:26 PM

The government will not fully regulate bitcoin, the government will only provide basic regulations that will regulate every use of crypto. Using as few exchanges as possible can be an option, because your assets on the exchange are not your assets, because you do not have the keys. If you store it in a personal wallet then it is your full asset.
Stay alert and follow the development of cryptocurrencies as well as some government regulations, Government regulations will certainly change.

Exactly. It's impossible to regulate Bitcoin in its entirety because of its decentralized and censorship-resistant design. What governments will only be able to achieve successfully is implement regulations on centralized exchanges and wallet providers. Anything outside of that will be out of the hands of governments themselves. Look at how China's "Bitcoin and crypto ban" had little to no effect over Blockchain tech's prominence in the mainstream world. If the whole space wasn't decentralized, Bitcoin and other cryptocurrencies would've been dead by now.

Depending on how fierce regulations are, people can either embrace Bitcoin or abandon it completely. If a government imposes crypto-friendly regulations, then you can expect adoption to grow within that country at a fast pace. Otherwise, not. I wouldn't worry much about this as long as decentralization wins in the long run. Just my thoughts Grin

TheUltraElite

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Quote from: wxa7115 on March 10, 2022, 01:49:49 PM

However we do not really need direct encouragement by the governments of the world as they are already doing so indirectly, after all with all the money that has been printed since the pandemic began and the huge levels of inflation that we are seeing around the world that should be more than enough for smart people to be encouraged to get out of fiat and invest in something else.

Maybe not for the members of this forum but for new entrants who want to get into bitcoin but are being discouraged by the "Grey area" part of governments, a regulatory body may bring in more transparency regarding how the government accepts or rejects cryptocurrenices.

I feel this is a good thing, because with increased regulatory actions, more people will enter the market. This will grow the adoption and acceptance of crypto and therefore lead to a positive outlook for the rest of the world towards crypto.

Not sure why some users are using the pandemic as a source of narrative here. A pandemic is a type of a natural disaster, however you might to shift the blame, it is indeed a natural one and the inflation that followed was only expected to happen. But that does not mean that you should be stubborn and focus on only one type of asset, you need all types and in crypto only bitcoin.

taufik123

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Quote from: carlfebz2 on March 10, 2022, 04:32:53 PM

-snip-
We do hate regulation but its true that it is one of the things which would fasten up recognition and adoption but of course this would only touch up centralized platforms and services.

Regulation is indeed the beginning of several dopsies carried out. Without clear regulations, the use of crypto will not be allowed. In my own country, in Indonesia the regulation of cryptocurrency is only limited to trading commodities and cannot be more than that, it cannot be a payment platform in place of fiat. So that the adoption of crypto for other economic sectors will not be possible.
On the other hand, if full regulation is carried out, there will be a large-scale adoption like that of El Salvador, which makes bitcoin a legal tender. Each country has its own regulations, we can only follow them.

lixer

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Quote from: ?? on ??

This corona was used by lot of business people, investors and by the government.When the pandemic was begin by the government, the people who brought huge amount of dollars. They will sell and reduce the dollar value. When the same was happened, the dollar value reduced huge. So then, it's easy for them to manage to buy huge amount of dollars at very cheap.When government released the same pandemic, the person will sell the dollars and get some good profit into their pocket.

Pandemic is not being released by the government, pandemic is a disease, I believe you mean coronavirus. So that means what you’re trying to say is about the government ordering a lockdown, that was the case in 2021.The lockdown led to a decrease in the price of so many assets, which are now back to being bullish, such as Bitcoin that was able to hit an all time high price, and right now it has gotten to $40,000 after the correction.

But, we should still be looking forward to further increase, I believe from 2025 when there is a halving. So, this isn’t much of a problem, it’s expected to happen, it has been happening for years now since Bitcoin was created.

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Quote from: taufik123 on March 10, 2022, 03:48:26 PM

Quote from: Mometaskers on March 06, 2022, 12:08:04 PM

Governments can regulate bitcoin whether they treat it as currency or not - with or without our approval. If you are worried about developments like this, then keep the use of exchanges to a minimum keep most of your crypto out of those, where they can't freeze it. We've already seen in Canada what they are willing to do to your money, crypto or non-crypto.

The government will not fully regulate bitcoin, the government will only provide basic regulations that will regulate every use of crypto. Using as few exchanges as possible can be an option, because your assets on the exchange are not your assets, because you do not have the keys. If you store it in a personal wallet then it is your full asset.
Stay alert and follow the development of cryptocurrencies as well as some government regulations, Government regulations will certainly change.

It's true I don't think the government has the authority to intervene or fully regulate crypto,
talking about wallets is indeed very vulnerable to hacking so we have to be careful,
it's true what you say we have to follow and update on developments or news about crypto

dezoel

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To be precise, most of us are just worried about the privacy we are going to be losing when the government starts to regulate cryptocurrency. Most of us would like to have privacy when we’re making transactions online, we would like to be able to send money to anyone to anywhere around the world without having the government question how and where the money is going to.

So, I believe that’s why a lot of us here don’t really want the government regulation. Apart from that,it is not really much of a problem to us. But any one of us can still avoid this regulation from the government, originally Bitcoin is peer to peer, so you can just make use of it by using decentralized wallets or non custodial wallets, so that every transactions you make with the blockchain wouldn’t be traced by anyone.

FlightyPouch

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The government will always be the same. They wouldn't be encouraging people to use Bitcoin because they are always thinking it is a risk and when I had a chance to talk to a politician, he said they don't even know who back it up.

Although most of what he said is true though. They can talk about it, but not encourage people to use it. Main reason is that they can't take care of the people that's using it. The fact that there are still people thinking that it is a scam shows that there are still people against it, and them talking about it would create an impact to these people which I think they don't want to happen.

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Quote from: taufik123 on March 10, 2022, 03:48:26 PM

Quote from: Mometaskers on March 06, 2022, 12:08:04 PM

Governments can regulate bitcoin whether they treat it as currency or not - with or without our approval. If you are worried about developments like this, then keep the use of exchanges to a minimum keep most of your crypto out of those, where they can't freeze it. We've already seen in Canada what they are willing to do to your money, crypto or non-crypto.

The government will not fully regulate bitcoin, the government will only provide basic regulations that will regulate every use of crypto. Using as few exchanges as possible can be an option, because your assets on the exchange are not your assets, because you do not have the keys. If you store it in a personal wallet then it is your full asset.
Stay alert and follow the development of cryptocurrencies as well as some government regulations, Government regulations will certainly change.

When you are using a particular exchange locally then it would really be just sensible that you would really be looking for various information or updates in regarding with possible changes specially attaching out with

regulation on crypto then you could really make out some immediate step which you might able to save up your ass on locking your funds on a particular centralized exchange.

We do hate regulation but its true that it is one of the things which would fasten up recognition and adoption but of course this would only touch up centralized platforms and services.

taufik123

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Quote from: Mometaskers on March 06, 2022, 12:08:04 PM

Governments can regulate bitcoin whether they treat it as currency or not - with or without our approval. If you are worried about developments like this, then keep the use of exchanges to a minimum keep most of your crypto out of those, where they can't freeze it. We've already seen in Canada what they are willing to do to your money, crypto or non-crypto.

The government will not fully regulate bitcoin, the government will only provide basic regulations that will regulate every use of crypto. Using as few exchanges as possible can be an option, because your assets on the exchange are not your assets, because you do not have the keys. If you store it in a personal wallet then it is your full asset.
Stay alert and follow the development of cryptocurrencies as well as some government regulations, Government regulations will certainly change.

Topic: Regulation seem like the only option left - page 5. (Read 1063 times)