Topic: Thoughts about Regulation of our Cryptocurency - page 2. (Read 296 times)
Agreed, regulation is needed for the long run since bitcoin has been implemented with tax evasion and gambling issue from the start. With more regulation and legalization, volatility will decreased at first but it will still beneficial as long as people know what future lies ahead for bitcoin, and i don't think there will be regulation to told how much bitcoin you own since its more like a privacy on your untangible assets and its more like stocks and regulator won't even can control how much or when will we trade bitcoin.
Regulation is good because otherwise the masses won't get involved for a second. I even think private blockchains will need to exist in order to get the masses involved, there is no way billions of people are going to learn about decentralization and keeping track of their own keys. Most people are not this technical, and the transition would be awfully hard. Instead on board them to private blockchains and then work there way into public blockchains.
"regulating cryptocurrency industry will be a good thing in the long run"-- Yes, I agree.
It is the time let cryptocurrencies become ready for the mass with regulation.
Too make scam like ICOs, make the industry a mess.
It is the time let cryptocurrencies become ready for the mass with regulation.
Too make scam like ICOs, make the industry a mess.
I’m not against any regulation, as taxation will help in nation building, but measures must be strictly implemented, as our government have the history of being abusive and corrupt. In my thoughts, it’s better that in every transaction on exchanges their is a deduction for that and the exchanges will be audited for it. Then individual filling of each user won’t be needed.
I do not believe that regulation will cover that we all have to declare exactly how much Bitcoins we each own.
Right. You only have to declare how much bitcoins you have if you need to pay your taxes from the amount of bitcoins you sold (this depends on the country you live in because not all countries tax bitcoin). In my country our government regulates the bitcoin exchanges here for more than a year now but we there's no statement about taxing bitcoin. With regulation this can help stop users who plan to use the coins for doing shady,illegal,scammy things like trading drugs guns etc.
It is true that the government should make regulations that can make investors feel comfortable and protected, and when many people invest in bitcoin then the price will go up, it is worth thinking about.
In my Opinion regulating cryptocurency industry will be a good thing in the long run, with the most important aspect being mass adoption. Everybody on Steemit is really early adopters of the new technology and this will count in all our favours in the long run. For me regulation means mass adoption, as more and more people will feel more comfortable to invest their money in Crypto Currencies. And we all know that when more money comes into crypto, the prices of everything usually goes up and I do not believe that regulation will cover that we all have to declare exactly how much Bitcoins we each own.
Jump to: