What happens if BTC gets regulated? - page 6.

Herbert2020

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Quote from: universalresonance on August 24, 2017, 12:55:38 PM

I wonder what will happen if it gets regulated by the government? value would go down? perhaps consolidation?

effects of regulation is no longer a guess because it has already happened on a large scale. before when bitcoin was not regulated in any country you could only guess that such as such may happen if it someday became regulated. but ever since Japan regulated bitcoin we have a real life example.
here are the results:
1. huge adoption by investors
2. huge adoption by different merchants
3. with removal of taxes the adoption by merchants grew even more
4. finally the price went up from $1000 to $4000 (although most of it was because of scaling and SegWit but Japan was very effective also).

n4poleon

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You may want to elaborate further when you say regulation. Traditionally, regulation means taking out the responsibility from the participants and taking all the responsibilities in an organization. Bitcoin is already regulated by design since its inception. No need for government regulation, doing so will just reverse the benefits intended for the people. The old fashioned law enforcement is still somehow effective when tracing down illegal activities.

Juggy777

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Quote from: universalresonance on August 24, 2017, 12:55:38 PM

Hello,

Just read somewhere that BTC is accepted by strippers now? lol

I wonder what will happen if it gets regulated by the government? value would go down? perhaps consolidation?

Overall , what's the general outlook? Obviously, I understand it'll be personal opinion but still. Go ahead and share. I'll get to learn something new.

So you mean to say just cause it's accepted by strippers that it shall be regulated, let's say it's regulated it's price is not really impacted, look at Japan for example, as soon as they regulated the coin it's price shot up, related coins have their pros and cons but Japan regulations gave us the boost, and I feel it shall Bitcoin take new heights but then again it shall leave us vulnerable against the government, taxes and all so ya would prefer if it's not regulated.

BCMB

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I think some regulation could help with mainstream adoption in some aspects. I'm always surprised by the number of people that are scared off by Bitcoin because they think that its some currency used by Terrorists and for buying drugs on the darknet. Obviously to us this isn't the case, but your average soccer mom is going to use it then she needs to feel safe doing so.

Doms

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If regulation leads to more usage and more people seeing the benefits of using crypto currencies, then it's all good with me. There have been a lot of countries setting regulations on how to go about our bitcoin transactions. Countries like Japan, South Korea and Australia are some of the countries leading the way in terms of regulation, which contributed to more usage for bitcoin over the last year. I am sure more countries are going to do the same thing in years to come given how bitcoin has steadily and slowly made it to the mainstream in some places.

Yuhee

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Quote from: Nameless27 on August 24, 2017, 11:36:20 PM

As the prices in high rate now and the chance for other people used it in illegal way it is how the government attention goes to it. If it goes beyond the needs of they're citizens it is when they will talked about regulating this. And so on, and so forth. In the end regulation of one country always comes from the clamor of its people and you must have to abide to it for majority wins.

Hard to ignore something that this high amount value. so i guess even if government gives a go signal for its regulation then a lot of people could really manipulate it more freely than doing transaction behind the governments back. Well for me, im just doing small transactions so nothing illegal but you really track btc transaction if it's legal or not so that's also one has catch of btc.

Yanisumin

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Of course BTC ( cryptocurrencies ) will be regulated but its not the price or its not BTC itself. They will implement rules and regulations regarding the exchanges of cryptocurrencies where it will differ in different countries. In order ti make what we call global currency the government must take part of these and of course they will implement things that will be best suited for the protection of the owner itself of the cryptocurrencies unless they will try to dominate again ( like what they are doing to fiat ) the system of cryptocurrencies.

Nameless27

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As the prices in high rate now and the chance for other people used it in illegal way it is how the government attention goes to it. If it goes beyond the needs of they're citizens it is when they will talked about regulating this. And so on, and so forth. In the end regulation of one country always comes from the clamor of its people and you must have to abide to it for majority wins.

illyiller

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Quote from: error08 on August 24, 2017, 09:39:15 PM

Regulations regarding bitcoin payment is something that we've been waiting for, especially if it stated as legal payment such as happened in Japan.
Without regulations, many companies and businesses don't want to accept bitcoin, but after it get regulated, we may achieve massive adoption.
Many people will intrigued to learn about bitcoin and more adopters will realize many advantages of bitcoin instead of just using fiat currency.

Regulated or not, massive adoption is underway. It's just a question of "when." I think what the general public is really waiting for is guidance from the SEC. The LedgerX approval was a great sign of what is to come; now we are all just waiting for an ETF. Once the SEC gives the green light, I think the general public, as well as institutions, will be piling into cryptocurrencies for the long haul. People will be putting crypto in their retirement funds and trading bitcoin ETFs through E-trade. It's going to be a different world.

dimox

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It might be a good thing, because when bitcoin is regulated then bitcoin will be used for good, and I do not think the price will affect it if bitcoin is regulated, because the bitcoin community is so big that it will not be so bad for bitcoin

MAbtc

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Quote from: diagla on August 24, 2017, 09:55:58 PM

If it's regulated then a lot of people will still go under the radar. That's the point of BTC in the first place - anonymity. However, if they really get serious about regulation then nothing will be anonymous anymore. The governments will be able to track every payment that's made as the blockchain is public.

There are two price scenarios that I envision if regulation happens:

1. Price goes up because people think BTC is safer to trade and less volatile (much like people were hoping with ETF).

2. Price will crash and burn because BTC has almost no advantages anymore compared to fiat. People panic and stop using BTC because they're scared of government intervention.

I think Scenario #2 is very unlikely. It's true that with blockchain analysis companies like Chainalysis and Elliptic getting more sophisticated and beginning to work closely with law enforcement agencies that Bitcoin is increasingly transparent. It is becoming pretty difficult to avoid linking your identity to at least some transactions you've made.

However, I don't think that necessarily means that BTC has no advantages compared to fiat money. The original intent of BTC was to create a trustless, irreversible payment network, and nothing has changed about it in that regard. Privacy would be nice, and hopefully things like TumbleBit and Confidential Transactions will help in that regard.

diagla

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If it's regulated then a lot of people will still go under the radar. That's the point of BTC in the first place - anonymity. However, if they really get serious about regulation then nothing will be anonymous anymore. The governments will be able to track every payment that's made as the blockchain is public.

There are two price scenarios that I envision if regulation happens:

1. Price goes up because people think BTC is safer to trade and less volatile (much like people were hoping with ETF).

2. Price will crash and burn because BTC has almost no advantages anymore compared to fiat. People panic and stop using BTC because they're scared of government intervention.

Beparanf

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Quote from: Cloud27 on August 24, 2017, 09:35:54 PM

If it gets regulated by the government, there will be less strippers. Do you want or not to have less strippers on the market? Maybe some of these strippers will wonder and learn, where the bitcoin came from and by themselves they will be the one investing to earn the bitcoin.

I hope government will not deal into btc , there are more issues that they need to give more importance than making buzz on crypto world. They can put tax on establishments regulating btc but let crypto world alone for us to have freedom on what were going to do in our investments.

error08

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Regulations regarding bitcoin payment is something that we've been waiting for, especially if it stated as legal payment such as happened in Japan.
Without regulations, many companies and businesses don't want to accept bitcoin, but after it get regulated, we may achieve massive adoption.
Many people will intrigued to learn about bitcoin and more adopters will realize many advantages of bitcoin instead of just using fiat currency.

Cloud27

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If it gets regulated by the government, there will be less strippers. Do you want or not to have less strippers on the market? Maybe some of these strippers will wonder and learn, where the bitcoin came from and by themselves they will be the one investing to earn the bitcoin.

xuan87

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It is a good currency for everyone, so no wonder a stripper accept your coin, if the government regulate Bitcoin then the price can be up and will be used by a lot of people which will be good for publication and can lead to Bitcoin pumping, but you won't have an anonymity transaction anymore, all of your transactions will be regulate and being watched

Reid

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And there it goes. The strippers. Grin

Quote from: maeusi on August 24, 2017, 01:28:48 PM

How should governments be able to regulate bitcoin? It is a decentralized currency. But governments surely are planning their own cryptocurrencies and also financial institutes.

Japan did it so why not every country.
It can be done but needs a lot of deep reasearch in how they will do it specially when we are talking about a large country.
Japan is great with their technology and not all countries have the same greatness.
Machines that will make the transaction faster needs to be created and they will need investors for that.

subSTRATA

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:^)

Quote from: maeusi on August 24, 2017, 01:28:48 PM

How should governments be able to regulate bitcoin? It is a decentralized currency. But governments surely are planning their own cryptocurrencies and also financial institutes.

there's a lot the governments of the world are capable of that we don't know about. i think i remember reading something about some of the 3 letter agencies being able to geolocate TOR exit nodes and physical server locations based off of calculating exact response times from various points, and i think this was around 1 1/2 years ago maybe? no telling what they're capable of without being involved.

Quote from: yudas8822 on August 24, 2017, 07:48:58 PM

if the goverment make rules about the use bitcoin then public will know about bitcoin, of course if many public know maybe the price bitcoin will be grow high, because more people need then price more higher.

the opposite effect is possible; bitcoin was meant to be a decentralized currency, and regulation does imply centralization (to an extent). this may turn off many users from bitcoin, or just cause the price to tank. that being said, im no expert in economics or the effects of outside influences on the market.

milewilda

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Quote from: universalresonance on August 24, 2017, 12:55:38 PM

Hello,

Just read somewhere that BTC is accepted by strippers now? lol

I wonder what will happen if it gets regulated by the government? value would go down? perhaps consolidation?

Overall , what's the general outlook? Obviously, I understand it'll be personal opinion but still. Go ahead and share. I'll get to learn something new.

Strippers accepting bitcoin isnt still considered as a legal thing because anyone could really accept bitcoin as a payment to their service or any work that they have done. Thinking off on centralizing bitcoin isnt possible for sure knowing that its a decentralized cryptocurrency and taxation and legalizing it would really be hard for governments thats why they do decide to block it either.

yudas8822

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if the goverment make rules about the use bitcoin then public will know about bitcoin, of course if many public know maybe the price bitcoin will be grow high, because more people need then price more higher.

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