What you think, Bitcoin needs some regulation ? - page 2.

CryptoBry

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Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Now a days bitcoin are widely accepted and it is decentralized currency. Due to its decentralization some countries do not accept as the payment system. Is bitcoin needs some regulation to use widely and accepted by all countries ?

We could never forced any country to accept Bitcoin and we have no power to compel any country and its citizen to change their stand on the matter. The sovereign power of any country will always be in the government not unless there will be a big revolution that will take that power away from them, we have no choice but to be at the mercy of those people in the government. Those people who can't accept this reality will continue to dream on and I admire them for that.

Those countries who accepted and recognized Bitcoin established their own regulatory framework that will cover the selling and buying of cryptocurrencies including the issue of taxation which can be important for any government. We have no choice but to accept the fact that regulations can mean a lot if it is in exchange for recognition of cryptocurrency. Rather than ban I always prefer regulations.

Md Saad

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I don't think so, Bitcoin is becoming a popular currency for a decentralized currency system so that people are getting involved in this platform, but if you want to regulate in this system then you will face difficulties for this purpose. I believe that Bitcoin doesn't necessary for regulating anymore.

OmegaStarScream

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With the news of exchanges being hacked (Mt.gox, Coincheck which occurred today etc.) all over the place, everyone is stepping further bitcoin. Regulations are always welcome as It could attract people and make them feel safe.

the majesty

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Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Now a days bitcoin are widely accepted and it is decentralised currency.
Due to its decentralisation some countries do not accept as the payment system.
Is bitcoin needs some regulation to use widely and accepted by all countries ?

I will say yes that bitcoin needs some regulations because the meaning of regulation in short is to put law on something in order to cub such thing from error. For error to not to occur definitely yes, it is necessary to add regulations to bitcoin

bitfocus

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if you mean the government regulation, well, bitcoin must stay away from such regulations for the greater good of humanity and mankind.

hopingman05

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It depends on the situation I guess, some of the countries already accepted bitcoin without being regulated. Of course, countries will need some requirements to accept the cryptocurrency but nothing is impossible Crypto will always find a way. Change is inevitable.

semobo

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Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Now a days bitcoin are widely accepted and it is decentralised currency.
Due to its decentralisation some countries do not accept as the payment system.
Is bitcoin needs some regulation to use widely and accepted by all countries ?

I don't understand what OP is trying to say,what do you mean by bitcoins need regulations?or it supposed to be bitcoin usages needs to be regulated?
Decentralization is the main reason that bitcoin was invented so we can't do anything with that.
No,it is already in the better form, bitcoin doesn't need to be regulated.Only the countries have to adapt to the new technology.

wargon

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depends what you mean by regulation. For me it means for example accepting that it is money and not property or other wierd interpretation that various nations come up to. And free it and other crypto from taxes. Yes, I know you can be rich thanx to it but also you can lose so I don't see the point of taxing it because it slows adoption.

Maksik198188

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of course, bitcoin needs to be regulated, otherwise there will be chaos

chenging14

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I think yes and due to some research, the U.S. has made localized attempts to regulate specific aspects of bitcoin. New York State requires a “BitLicense” for bitcoin related businesses, with specific rules for employee vetting and identification. Just last month, the IRS won a landmark ruling to gain access to information about 14,000 historic Coinbase accounts, in an attempt to gather back taxes from owners.

AleksandrKosov

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Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Now a days bitcoin are widely accepted and it is decentralised currency.
Due to its decentralisation some countries do not accept as the payment system.
Is bitcoin needs some regulation to use widely and accepted by all countries ?

Bitcoin is not needed by anyone in the form of a payment system, because it does not possess the required characteristics of the payment system. There are other companies that can match. Here the question is not in what that specific crypto currency, but in the market as a whole. For example, in Japan legalized the crypto currency, now you can accept payments and organize payment systems on the basis of different crypto-currencies, and not just one. For the adoption of such laws, of course, approval of the regulator in each country is necessary. I think those countries that block and reject crypto-currencies will lag behind their IT development from those who will legitimize them.

douhancan58

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Bitcoins need some action!

To monitor bitcoin transactions, such as "requirements for business continuity planning" and "BBS to prevent fraud and disclosure of bitcoin's risks and costs". Bitcoin businesses are subject to anti-money laundering rules like Banks.

This may slowly be accepted by governments around the world!

talkbitcoin

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All I know is that I know nothing.

Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Due to its decentralisation some countries do not accept as the payment system.

there are a lot of reasons that people are not accepting bitcoin as payment and being decentralized is not one of them.
here are some of those reasons:
1. lack of customers willing to spend bitcoin. there may be a lot of bitcoin investors but only a small percentage of them are spending it.
2. high fees. which may be temporary now but that throws people off.
3. high volatility. unless you are converting back to fiat immediately or believe in the future of bitcoin, it is tough to accept a volatile currency.

adifariz

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yes, I think Bitcoin needs some additional rules to protect the safety of bitcoin participants. At the same time, according to research and international experience in some countries such as the United States, Europe or Japan laws and practices related to virtual property, virtual currency.

seanskie18

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For me, bitcoin needs regulations and rules. It will help us especially to those participants how important bitcoin to them. When someone will follow it, it will show that they are like to learn more and want to get knowledge about bitcoin.

Happydd

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Quote from: stevemichael on January 28, 2018, 02:51:33 AM

Now a days bitcoin are widely accepted and it is decentralised currency.
Due to its decentralisation some countries do not accept as the payment system.
Is bitcoin needs some regulation to use widely and accepted by all countries ?

Right! Bitcoins need some additional regulations to protect the safety of bitcoin participants. At the same time, according to research and international experience in some countries such as the United States, Europe or Japan ... the law and practice related to virtual property, virtual currency.
In addition, in August 2015, the State Bank of Vietnam has completed the review, study and proposal of amendments, supplements and promulgation of legal documents on electronic money for submission to the Prime Minister.

stevemichael

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Now a days bitcoin are widely accepted and it is decentralised currency.
Due to its decentralisation some countries do not accept as the payment system.
Is bitcoin needs some regulation to use widely and accepted by all countries ?

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