Will bitcoin ever get regulated - page 12.

DarkDays

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Quote from: Charles-Tim on November 08, 2021, 02:10:11 PM

Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

I think it depends on the context of regulation. As far as the blockchain itself goes, that's a straight flat NO. Can't reverse something that was purposely created to escape the same sick centralisation cycle.

On the other hand, any monetary value derived from possessing Bitcoin or using the system can be levied in one way or another.

bekti3

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and the answer is very clear, no and never will.
because indeed bitcoin will still be bitcoin and will not be able to change that.
Its decentralized nature will never disappear at any time and will not be managed by anyone.
they will still be bitcoin as they are today whether it's tomorrow, next week even until bitcoin is very expensive, everything will stay like this.

carlfebz2

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Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Regulated on the sense on where services would be adopted which do acts as a bridge between bitcoin transactions but talking literally to be regulated or controlled then its impossible.

When they do look upon about taxation then this is something possible because they could really target out those services/platforms whom be dealing with crypto but not talking on direct ones.

Its good to see some adoption increasing but we dont actually need that on general sense.

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Quote from: Charles-Tim on November 08, 2021, 02:10:11 PM

Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

Directly, bitcoin can't be regulated, yeah, I agree with you cause in case of fiat the government can even change the currency, print more or even withdraw from the circulation but in case of Bitcoin that's impossible to do. But... When the exchanges and bitcoin related services are regulated, this at some point means that bitcoin is regulated too but the influence and power is lower there compared to fiat. As time goes, more and more bitcoin exchanges are regulated and more often you have to submit KYC documents (including exchanges, crypto casinos and so on). Also, mining has turned into centralized business, there are just some giants that mine most of the coins + more and more transactions are easily traced as time goes. This only just means that bitcoin is getting more and more "regulated".

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Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

Can a decentralized currency like bitcoin ever get regulated?

No, or at least, not directly. The Bitcoin network is designed to be resistant to regulation or centralization. And as long as the protocol holds, it cannot be regulated.

Indirectly? Yes, Bitcoin can be regulated to some degree. While the network is decentralized, it can be operated through centralized channels which can serve as a means for the government to control it, the most common example of this is centralized exchanges. They give users the feeling of convenience and control, but actually take away the freedom and anonymity of its users.

Who holds the keys, owns the coins; and with centralized exchanges, they own the keys to the coins stored there and allow users access it based on their discretion.

BlackHatCoiner

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Regulation isn't indissolubly linked to centralization. There'll probably be more laws introduced about bitcoin which will regulate it. For instance, they may make it disgustingly difficult to avoid KYC or illegal use bitcoin without reporting it.

In such scenario, it will be fully regulated, but still, there'll be incentivized miners. There will be updates if the community comes into an agreement. The currency wouldn't be controlled by entities (e.g., exchanges) or governments, but its usage would require government's approval.

To answer the question in the title, I don't believe it'll ever become so regulated that we'll miss its principles. And that's all I can say.

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Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Peoples in power never like this, and they never allow to be regulated because these culprits hate all decentralized things. Just because of this now they are tightening their grip on centralized exchanges with regulations and bringing KYC policy very stick.

Charles-Tim

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Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

Can a decentralized currency like bitcoin ever get regulated?

No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.

Tellek Garing

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This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

Topic: Will bitcoin ever get regulated - page 12. (Read 1628 times)