Regulations only for BTC to increase in FIAT value?

Pumared

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Quote from: Samuel4 on April 28, 2019, 09:51:23 AM

I have not really seen the need for government's involvement in Bitcoin or Crypto-currency. If government should introduce some form of regulations in cryptoccurrency, then the essence of blockchain technology will be forfeited. And there will be nothing like decentralization. Although fraudulent activities from bad eggs in the crypto space is the reason why people are glamouring for regulations

Partner between State and Crypto would never work. But the state using Blockchain technology, as it already uses in Brazil to store identifications, would be something wonderful.

Samuel4

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I have not really seen the need for government's involvement in Bitcoin or Crypto-currency. If government should introduce some form of regulations in cryptoccurrency, then the essence of blockchain technology will be forfeited. And there will be nothing like decentralization. Although fraudulent activities from bad eggs in the crypto space is the reason why people are glamouring for regulations

okala

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Why we believe that regulations will lead to high price of bitcoin is because when government regulate bitcoin that will burst the confidence of the general public toward bitcoin, since all this while people have hard bad image of bitcoin and have related bitcoin to only negative operations but when it regulated there will be a set rules that will guide bitcoin activities.

kingplaya4

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Didn't people on here want Wall Street involved? What has happened since then? BTC has stagnated at about the price it was when those rumors started. Wall St. can make trillions of "paper" btc and then short them or sell them off and destroy BTC. Governments can regulate it to the point that no one would want to bother using it. For example, you can use BTC at a store, but you must have two forms of ID, bring a utility bill confirming your address, a bank statement which confirms the btc were purchased by you using a legitimate exchange etc.

Most people don't think of drugs, terrorism or even gambling when they think of bitcoin. They think of "Tulip Bulbs". Only time and a consistent price will cure that impression. If it were to skyrocket this year or next the average Joe who doesn't own any will think "oh here the tulip bubble goes again" and be praying for a crash. Give it another decade though, and even the average person will have to admit there's something to this. Governments taxing it and KYCing it to death won't make people think it is worth anything. Only time and more people owning it can do that.

iqlimasyadiqa

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Quote from: Firecold4 on April 27, 2019, 11:17:22 AM

there are some countries that want to supervise bitcoin through government and authoritarian states because bitcoin can be used as a means for corruptors to laundering the proceeds of their crimes because the role of government and state authoritarian is very much needed to monitor all existing transactions

Some people who have an interest in using cryptocurrencies are negative, they do use cryptocurrencies as a media for corruption so that the transactions they carry out are not tracked and are not monitored by the authorities. every thing must have a negative side and there is a positive side, so it depends on ourselves in wisely responding to the use of cryptocurrencies.

loopes

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Quote from: coffeeastronaut on April 09, 2019, 06:16:21 AM

Hi all!

People in this forum and in many other discussions are fast to talk about the 'need for regulations'.

Most of the times it is in connection to mass adoption and for price speculation ideas.

Is regulations really only for Bitcoin to increase in price? What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market? I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

The purpose of governments regulations is to secure people to being fraud and protect people from any cybercrime, but this kind of regulations will also attracts more people to use bitcoin because they will see it as save investment and at the end it will make the price of bitcoin rise. It will make bitcoin price rise but indirectly.

chaoscoinz

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Quote from: coffeeastronaut on April 09, 2019, 06:16:21 AM

Hi all!

People in this forum and in many other discussions are fast to talk about the 'need for regulations'.

Most of the times it is in connection to mass adoption and for price speculation ideas.

Is regulations really only for Bitcoin to increase in price? What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market? I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

That's all fine and dandy, except if you want institutional investors, mass adoption, etc, then regulations are needed.
Freedom without laws is anarchy, just as laws without freedom is tyranny. Instead, both parties tend to profit if
   there is a mutual agreement somewhere down the line for either two to coexist. In the case of Bitcoin, it's beautifully transparent, yet subtlety private and reserved in some aspects.
   It isn't the most user friendly, but it's something members of parliament across the world can somewhat collectively agree upon, that being, the blockchain itself, being the real game changer, not Bitcoin "PER SE".
Bitcoin only seems to be a unique proof of concept, providing an excellent working model of a Blockchain ecosystem. Probably why Nakamoto made the whole project open source.
  Just a theory

shesheboy

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Quote from: Rufsilf on April 27, 2019, 12:12:17 AM

Regulations will be a concrete proof that bitcoin will be at real but not in connection with fiat value.

Bitcoin might not have its physical form but Bitcoin is real with or without regulations and it has a connection with fiat because people use fiat to buy and sell bitcoin .

Quote from: Rufsilf on April 27, 2019, 12:12:17 AM

Bitcoin is a digital currency which might be a conflict of used with fiat in terms of payment system

No it does not bring any conflict to fiats but instead these two currencies are perfect combination .we need fiats for offline transactions while we need bitcoin for online transactions .

Quote from: Rufsilf on April 27, 2019, 12:12:17 AM

But fiat will remain at its high position which it is still the most favorable currency to used at this time knowing that only few establishments where accepting cryptos.

Yes . fiats are the most used currency and no cryptos cant replace it not even bitcoin .

coinnumber

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Regulation will make the use of bitcoin for illegal activities reduce drastically and increase its demand as many investors who are willing to trade in the cryptosystem will see it as an advantage for them to come in without any fear. Without regulation those who believed that bitcoin is a scam can't be confident of using it for any transaction. So aside from price I believed there are many other merits.

adzino

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Regulations will just make the main goal of crypto currencies weaker. But then again, how will using crypto currencies be legalized if there is no regulation? We can't deny that crypto currencies are being used for illegal activities but isn't fiat also used for committing crime? The only difference is that we know what people does and easy to trace if using fiat. But when they use crypto currencies it becomes difficult for us to trace them and god know what kind of crime are they committing.

Firecold4

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there are some countries that want to supervise bitcoin through government and authoritarian states because bitcoin can be used as a means for corruptors to laundering the proceeds of their crimes because the role of government and state authoritarian is very much needed to monitor all existing transactions

Ucy

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Good observation. Seems most didn't understand the purpose of Bitcoin/cryptocurrency before joining this space. Or they probably did understand but greed got hold of them. . It's a little bit frustrating to keep reading their posts.

Anything blockchain related that does not revolve around the principles behind bitcoin should not be taken seriously.

bitbunnny

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I don't think that the only purpose of Bitcoin regulation is value.
We have come to the stage when Bitcoin can't be left on the margins anymore and governments are aware they have to formaly include it into society and economic processes somehow. That is why it has to be regulated and put into some legal framework. Without regulation Bitcoin and other cryptocurrencies would stay informal and something that is not formaly accepted and adopted and this is not good.

waynechong1995

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Regulations are indeed a factor for price movements, a major one cause it causes FUD much more it does in helping boosting confident of the market, bitcoin is naturally messy for such use case, the need of identifying businesses, transactions to avoid unlawful activities. Bitcoin's price are heated up and there's nothing government can directly interfere due to its global availability, people will still somehow trade bitcoins with fiat as long there's demand on the raise.

pooya87

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actually the wide scale "talks about regulation and relationship of that with adoption" is only a recent thing that mainly started in 2018. prior to that date you never saw this much enthusiasm for government intervention and restrictions on the market!!! and i believe the main reason for that is the price drops and the fact that at some point for some reasons that i don't know, people started thinking regulations is the only way the "drops" that were going on in 2018 could stop and price can reverse. so basically what these people have been and still are begging for is to get their money back which they lost because they bought into the bubble.

Micerker

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Quote from: alonelyorange on April 10, 2019, 10:24:08 AM

Bitcoin is the mother of altcoin will be have positive effect for all of altcoin price if bitcoin have regulated and allowed in many country for transaction payment,by allowing bitcoin as transaction payment will be more easy to get much profit with altcoin.

Bitcoin can negatively impact Altcoin when it increases or decreases. If Bitcoin is accepted all over the world and used in all trades, it will cause its price to go up, and negatively affect the price of Altcoin so you can't make a profit on Altcoin/BTC.

Rooster101

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Regulation for the cryptocurrencies seems to be inevitable because of the recent meeting of a group of nations to create a global law for the use of virtual coins. Almost all of the financial systems inthe world is heavily regulated and I will not be surprise if the cryptocurrency sector will also become regulated someday. The aim of regulation, according to some governments is to stop some people in using coins for their money laundering and other illegal activities.

pawanjain

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There are 2 kinds of people. One who supports regulation and the other who doesn't. So if and when bitcoin is regulated by the governments, we might expect any of the following.
1. People will start buying bitcoin and altcoins since they will be regulated and hence safer to use.
2. People will start selling their coins since it will then involve middle man like banks and governments which might void their anonymity.

Only time will tell us what majority of the people think about cryptocurrencies.

Bitfling

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Quote from: coffeeastronaut on April 09, 2019, 06:16:21 AM

Hi all!

People in this forum and in many other discussions are fast to talk about the 'need for regulations'.

Most of the times it is in connection to mass adoption and for price speculation ideas.

Is regulations really only for Bitcoin to increase in price? What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market? I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

As far I know, Bitcoin can not regulated because its decentralized and there is no headquarter. I think regulation can apply in bitcoin trading in market or exchanger. If government regulate cryptomarket, i am believe investor will more confident to invest and this will attract big investor or financial institution

zeingrind777

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The government must regulate circulating bitcoin to ensure all digital financial markets are safe and not used for criminal activity. Bitcoin and P2P currencies are very vulnerable to use by criminals. In order for people to have confidence in Bitcoin, the government must make cryptocurrency regulation.

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