Topic: Will bitcoin ever get regulated - page 5. (Read 1628 times)

bitcoin can only be regulated if satoshi is found, but that will never happen because satoshi is so anonymous. Countries can only regulate bitcoin exchange in their country but cannot legally bind bitcoins because bitcoin is a decentralized asset.

I don't think bitcoin can be regulated, because bitcoin is independent, it can't be regulated by several countries, I think it's the state that has to adjust to the bitcoin system.

Hello BTT family,
What if bitcoin was legal in India?
When there is talk of cryptocurrency, how bitcoin can be excluded from the discussion. Right? As bitcoin has shown the entire world of investment that cryptocurrency can give high value return on investment. The highest ROI given by bitcoin in last 10 years than anyother project.
So if bitcoin becomes legal in India it could benefit everyone in the country like firstly the government. Government can make it legal or regularise so that it can earn from the tax which can help in economic growth and development of the country. Moreover India which in last 6 years has encouraged online transactions through UPI payments want to make aware of online transactions and which has been a great success. As government encourages online transactions next could be cryptocurrency. As I think so let's see. What you think about it?
Secondly India which has so much potential young youths in every field and sees opportunities in new sectors for growth. Bitcoin launching could provide a great opportunity for these young youths for there personal and financial growths.
Third is mining of bitcoin on a large scale should be encouraged with the help of renewable energy sources like wind, solar, hydro. This type of mining could increase in rise of new mining companies and which in return would provide good job opportunities.
This type of mining could control pollution also thus not harming our environment and this is good news for every one
So more jobs, new online transactions in form of cryptocurrency/ bitcoin, new companies, less pollution. Isn't this futuristic?
That's why I believe Bitcoin/cryptocurrency is future of our world.
Indian government do it fast don't be late on this.
Thanks guys for reading my views.
Was it good? I'm open to feedbacks  and discussion.

They regulate it through some means by having 3rd party apps that allows their people to hold cryptos, while at the same time requiring them to comply with KYC policies which would require an ID from their people before having the means to sell them or even buy services with the use of it. This is at least from my experience, though it doesn't literally "regulate" crypto like controlling the whole blockchain itself as that is a complete BS to happen.

If Bitcoin can be regulated, it means that it is not decentralized, then however the government tries to regulate Bitcoin it is impossible. The reason
why many people trust Bitcoin, is because it is different from fiat which can be regulated by the government. Because the government is having
a hard time regulating Bitcoin, therefore the majority of countries in the world are neutral by banning Bitcoin as a payment and only allowing it
to be used as a digital asset. So not many countries will legalize Bitcoin as a legal tender, but with time, many countries will begin to follow
in El Salvador's footsteps legalizing Bitcoin as a legal tender. Because in the end the government will realize Bitcoin will not replace fiat, but will
only be an alternative. It's actually very good if fiat and Bitcoin can co-exist and complement each other.

Well despite the fact that many countries are begging to adopt Bitcoin as a legal tender, the fact still remains that Bitcoincan never get regulated as no one have the power to do so not even the FED their can only adopt Bitcoinas a secondary currency to tap into the many advantages of bitcoin ecosystem 

They could regulated only on platforms/services which do involves with crypto and not directly technically with it because it cant really be possible as we do all know.

We've seen several countries now are  making it as a legal tender which is great but it would still takes time about this adoption to move further and i dont really believe that it could
replace fiat soon but rather be always staying up as an alternative.

People shouldnt really think off about this way because it wont really happen no matter what.

Right. It was built as decentralized so no group or entity can ever regulate it. Although there are some government policies for bitcoin users, but for bitcoin itself, it won't never be regulated. But i think once it will adopted globally and act as an alternative to fiat, maybe by that time the government will be able to regulate it slowly. For now, as long as its fully decentralized and not yet fully backed by the government, it remains to be unregulated.

Tried so hard to understand the point you are trying to make, but if I get you currently you point out quite a good number of points such as the decentralized nature of Bitcoin which is the bedrock of its strong security, and the government inability to regulate and control Bitcoin, but the other challenges are bitcoin scalability problem and how it decentralized nature have made it impossible for developers to add some setting software that will make bitcoin mainstream adoption flexible and easy.

The government is a bit more powerful than you can imagine, I have to say. Decentralised or not, if the governments of the planet went full-on China dictatorship mode, we would find it very hard to find value in Bitcoin, as the governments would find a way to make it impossible to buy or sell anything with it, legally. And they would make miners illegal and that would scare people off too.

The bitcoin itself has decentralized the reason why it looks like being controlled because of the large investors who hold their assets and make a market manipulation another factor is the exchange too some of them controls their way the transaction fees well it's their right because it's their services. It depends on the country too if they are willingly accepted the use of bitcoin or not.

Oh thanks for this trivia as we don't know about this fact 
What is not controlled by Human hands in this world? even robots are controlled by Humans .
One control in terms of what? country ? individual? sorry but I can't figure out what you mean by that.

same statement? lol do you really understand what you are telling us here?

The whole purpose of cryptocurrency is to be free of any governmental regulation, and we have achieved that goal.

No. Bitcoin cannot be regulated by some government bodies anytime soon, otherwise it's unique feature is taken away from it. Bitcoin as a digital currency, now being tagged to be an asset or store of value is already something the government are interested in so as they can have their lead on it and know everything going through it. For now, there are lots of countries working towards the regulation of Bitcoin, while some are taking the action of banning Bitcoin use, this will be, but the future will tell, if the regulation will suit the interest of the people and be accepted or be against the interest of the people and be reject. To an extent, this will be a big fight in the future, there will always be a winner, with some serious injuries.

If bitcoin will be a currency then regulation will surely take place because a Government will never allowed this to function without their conditions and regulations.
and also this is the reason why Bitcoin is still pending to be adopted because of the decentralization and volatility of cryptocurrencies .
If this will never happen , then expect a long term fight of crypto against many governments .

and yes this will run for long time .

Regulation is hard for a decentralized currency. But if the government just want to get a hold of some of its crypto users, they are already doing it by regulating the local crypto exchanges. Because most local crypto exchanges are under the jurisdiction of the local Central Bank. So in some way, they have the picture of what's going on in their crypto community. But of course, it is not the absolute picture because some users will use p2p and other independent platforms. So it is like partially regulated but I doubt they can have a full grasp of the crypto movements. Because they can't. This is why the governments are hesitant towards crypto. They have no way of fully controlling its existence.

I think very soon like 5to 10 years many of countries like  middlest,and many African countries Will tegulate bitcoin reason they get good gain From bitcoin and we can say it's their good source of income.and not only Those countries but may Asian countries also will regulate bitcoin, because it's their people ,s demand. so we can see good move about bitcoin near future restated regulated of bitcoin.

That only they can touch people who use Bitcoin but not the system. It remains uncontrollable, unregulated, and it remains decentralized as it was to be from the very beginning. The only thing that the government is going to do is to impose taxes for all the users, nothing else. But somehow, it was still in their struggles since not all will able to pay it and the people remain anonymous which becomes their burden. That is why they hated Bitcoin, they don't like how the people could even lie with them. And this is to see the market price remains unpredictable as it freely moves in different directions.

I know this will happen one day. It will be regulated surely since the government has no choice than to adopt Bitcoin since it's what the people are running after. We all want to get in to the crypto market and benefits more from buying the dip and selling the top. We all should be prepared for this day or else we might get curt.