Will bitcoin go under regulation - page 66.

Sexie

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Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

As of now, I never heard yet any country that regulates Bitcoin or even the central bank. They are still studying about it, if they are going to regulate it. What if some investors of Bitcoin are government employees? Are they going to declare their assets as crypto? I dont think so that government can be trusted regarding your investment or assets in Bitcoin . Because even just in bank alone, your money been taxed accordingly.

nebuch

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Yes in their own particular area but not all over the world. Regulating bitcoin is possible but impossible to implement all over the world for there are different kinds of culture and traditions all over the world. Government is not the same and also the citizens have different capacity to think about crypto.

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Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

I also think you have an interesting statement about this. But I'll add from myself too. Yes bitcoin will soon have to be regulated and again become more stable.

beliomir

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I think that bitcoin will be regulated by the states, since if regulation will include new investors

leostrong.mo

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Because BTC is used by some criminals to launder money or carry out other criminal activities! BTC is forbidden by the governments of many countries!
If BTC and some cryptocurrencies are supervised, BTC may be protected by law in these countries!
This is beneficial to the development of BTC!

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Bitcoin is certain to be regulated, but for now, there is a positive attitude towards it, so don't worry too much.
However, countries are not friendly to ICO and altcoin.

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For me its depends only in currently situation,but not all banks was scared in bitcoin like my country which is the Philippines our banks was looking to use it for good and also many branches here was tottaly accepted bitcoin as a payment method.

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,i think it is quiet impossible to regulate cryptocurrencies, although this has been discussed and more or less likely in the near future it will be decided to what should it really be. there are also lots of stakes to consider before regulating a certain currency.

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Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

Regulation won't be easy but I think it's necessary. It will probably occur in a few years from now, because people still don't know how to deal with crypto, and don't understand all it's implications. Regulation will "validate" investments in the long term, because people will feel safer when buying coins, because if they are regulated it means that they probably wont get scammed, and that what they are buying has a use case that is understood by everyone, so they should not be buying crap.

On the other hand, regulation can't just start shutting projects down, because the misunderstood them in the first place.

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Quote from: stefy77 on June 02, 2018, 06:20:01 AM

If peoples who have bitcoins and cryptocurrencies accept the KYC then it will mean that governments will have won.

Kyc issue will never win.lookt bitrex now because they are requiring KYC from their customers lots of the switching in binance,and if binance requires kyc in future,for sure people will look for another exchange again that offering no KYC.this is not our problem because we can always find new sites but the exchange will be affected because its hard to gain traders as now

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it is impossible to manage bitcoin if they have forbidden the use of bitcoin, I think the government will be able to set the bitcoin if they allow the use of bitcoin origin with the records of the users are required to comply with the rules set

Storeplex

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I think we're more likely to see actual exchanges come under regulation from governments than Bitcoin itself. That would make most sense to me as that's where a lot of the manipulation and under-handed stuff goes on. ICO's will probably be regulated soon too but that doesn't really affect Bitcoin that much, that's more for Ethereum

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Quote from: papasmurph on June 03, 2018, 04:30:31 AM

Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

I think they can do anything as long as they want to. But in general, if this happens, the whole meaning of the crypto currencies will be lost. Huh

but I think it is not when there are country still believe at cryptocurrency. Yes, it will dump because of too many country disagree by the use of crypto but it can recover no matter what happen. There are many person lost their money when the crypto was gone so it is not easy to kill bitcoin.

jmiro1

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Bitcoin is under regulation. It's an online money, this won't be changed. Bitcoin will never turn into fiat money. It will always be the first crypto coin... etc etc etc. These are also can be called regulations. But no, it cannot be regulated by the government. Let me clear things up a little. Take torrent for example. It's clearly a piracy. But the torrent is not regulated, but the use of torrent is regulated in different countries. There are many countries where piracy is some what legal. Torrent is 100% legal there. Take Bangladesh for example where Torrent and the use of torrent is legal and any involvement with Bitcoins is illegal.

yousuf123

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I don't think that any government can regulate bitcoin alone, because they can't control Internet.Only some kind of regulation on the world level is possible, but I doubt it will happen soon. I think governments will follow this recommendation and regulate bitcoin. Actually there is no way to regulate bitcoin blockchain, what governments can regulate is the places where cryptocurrency are exchanged into fiat currency. i.e. Fiat/crypto exchanges.So i think they can't control it and they can't regulate it. Even though that happens people will do make a way to take out this issue.

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Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

Bitcoin is making a huge noise thes days, and I think this is not too impossible to happened given the fact that Governments is now accepting Bitcoin in their country, actually some of the countries, and to prevent scams and any other illegal anomalies they prefer to require some regulations to know the certain reciever if it was about payments, like KYC, for me it is really hard since it only limited with passport and license, I am just a student roght know and I dont own some of it yet.

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Quote from: yohan09 on June 03, 2018, 05:49:52 AM

It takes more time to come up with regulation, Most government are afraid of bitcoins because it is uncontrollable, and it is the source of illegal activities, some government come up to banned bitcoin, Maybe decades from now bitcoin will be regulated, as of now they need to do more research on how to regulate this kind of innovation.

Actually some countries have regulation system for the crypto currencies and heavy taxes included in it this because they want to supress the crypto currency usage in their country and only very few countries have user friendly condition for the crypto currencies so the other countries also follow their system to regulate the crypto and make beneficial for the people.

yohan09

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It takes more time to come up with regulation, Most government are afraid of bitcoins because it is uncontrollable, and it is the source of illegal activities, some government come up to banned bitcoin, Maybe decades from now bitcoin will be regulated, as of now they need to do more research on how to regulate this kind of innovation.

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Quote from: papasmurph on June 03, 2018, 04:30:31 AM

Quote from: rosstiller on June 02, 2018, 06:04:23 AM

Many government are seeing Bitcoin or cryptocurrency as a threat to their financial system and they think it should be regulated to solve the problem. Do you think they can regulate Bitcoin ?

I think they can do anything as long as they want to. But in general, if this happens, the whole meaning of the crypto currencies will be lost. Huh

so that is why if this is may really happen this is may also undergo for the deep study where they can actually know what could be the real possibility that may ever happen in crypto currencies.

StarLucas

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Bitcoin will be blamed for financing terrorism
All Bitcoin users will be retrospectively tagged with the terrorist label

Selective prosecution will be used to deter Bitcoin use, as per the old Chinese saying "Kill the chicken to scare the monkey"

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