Topic: Will it be good for bitcoin if it will be regulated by the Goverment's - page 4. (Read 769 times)

Depends on your views on the government, decentralization and also how the society should work. There are communists and capitalists, and I have no doubt about it that they will all have different views about this pretty controversial topic.

If we are going by satoshi's own views and what he wanted BTC to be - that's a definite no. He was against the government controlling everything in our lives and hated how centralised everything was, and then BTC was made to circumvent the existing systems and usher in a wave of decentralization.

When it comes to regulation, consumers think they are safe and secure. But that's what most people think because when it is approved in a country it will come out there will manipulate their prices on the market, so if you are not aware or prepared in these situations it will be soluble or lost. your capital. So far, many say that bitcoin will increase in October by around 16k $ each, because of the falling prices now that many buy and sell for such news, so-called mixed manipulation.

I think they are after the tax that will ve collected also from the transactions as we know government all over the world wants a share in everything saying its for the people, but the government will surely find a way to get this done , because if there is money that can ne extracted there will be officials that will force their way in thats what it is

So, you think people will make better choices if Bitcoin was regulated. Tell that to the millions of traders that lost money on the Stock exchanges all over the world. 

Regulation will help to protect the consumers against illegal manipulation that could be done through money laundering, but it will not stop it. We have seen how large organized syndicates have infiltrated most of the regulated financial institutions and they manipulate commodity prices like Gold and Silver. 

Regulation help governments more than consumers. 

"Trust" in the transactions is built into how bitcoin works. So there is no need for the government to be involved in "trust".

The problem is that people are stupid. They make stupid decisions which cause them to lose money and then they cry about it and want the government to protect them from themselves. Maybe they should take some personal responsibility for their actions.

So. Since "trust" is already built into bitcoin via the protocol, the only purpose of government regulation would be a form of endorsement. But do you really think they want to endorse something they have no control over? If they "endorse" it, people will run to them with their problems. They'll blame them for things when it goes wrong. They'll want some form of "control" over the transactions in which case, bitcoin will no longer be bitcoin.

Anyone that calls for regulation for crypto doesn't want crypto. They want an electronic form of money guaranteed by institutions like banks/governments. Don't worry. It's coming. And then they'll do away with paper money and they'll be able to see everything you ever purchase. Some places are already trying to work towards this.

Yes it may give legitimacy for bitcoin but at the end of the day, government regulations would surely adopt policies that would favor them in the long run. Compared to the now of the current BTC community, it's really just some people scamming others. And if goverment regulations were implemented, those people would just be chaned to the government. I rather like the current freedom the market has since it reallt helps develop the community a lot more because it develops its own rules and regulations. What you said about the legitimacy of cryptop and btc is we all just need the acknowledgement of the government, but they dont really need to take control and adopt regulations and policies for it.

It's very general to say that government should regulate bitcoin.
Real question is how any government can regulate bitcoin?
As we know, nobody control bitcoin, it's decentralized.
So, in legal terms, if someone cheats you with bitcoin, who is competent and responsible?
Who is obliged to pay the damage?
States may negotiate rules and laws only with other states.
The government can only track the end result, when a user converts bitcoin into their local currency and can charge him taxes and that's fine.
Everything else is not realistic and possible.

I think it's inevitable. For bitcoin to really break away and receive mass adoption, a government regulation of some sort must be in place. Let's face it, at this time, trust is not that high for  bitcoin and crypto in general. Many people are still seeing it as a scam because they don't understand it. A government regulation should be able to reach out to the masses and give confidence that bitcoin is legitimate.

Is there any possible way for Bitcoin, for example, or cryptocurrency in general to become fully legal without undergoing regulations? If there is, that would be the best way. However, there seems none. Whether we like it or not, if we want crypto to be fully adopted as a main currency, going through regulations is the only way.

Regulations could really be good or bad. You are citing examples of the bad side of regulations. But it could also be good. It means accountability, for example. Or proper taxation, or security. 

^^^

I believe most of the regulations are bad. Take licensing for instance. You have a business that operates based on being honest and transparent. You have a nice big user base and suddenly there comes the government saying that you have to prove to them that you're fit to run the business. They want you to file a ridiculous amount of paperwork, you suddenly need to hire a lawyer because it's impossible for you alone to prepare all of it in time. You have to pay a fee on every step of the way... They are destroying your business and for what? Nothing. Licensed businesses also go bankrupt and also scam people. Bernie Madoff was licensed, and so was Jordan Belfort.

regulations are not always good you know. there are a lot of cases where the regulations is actually harmful to the businesses and as a result to the overall adoption. for example the high taxation laws, invasive KYC implementations, restrictive and expensive licenses that the businesses would have to get before they could operate,... and a lot more.
so we can't really say if "regulation" in general is good or bad for bitcoin. we have to do a case by case study to see if that particular regulation by that particular government in that state is good or bad for the people.

The bitcoin community still stands quite strong even without the governments hands on it. The sole reason your friend lost quite a lot was because his readings towards the market were incorrect. The fact that bitcoin is not regulated by everyone makes it equal for everyone since no one can control or adopt policies that could favor one party from another. Government adopt policies for the overall good so by the end, all of us will lose out since you can't really get something without giving something.

Regulations must still in favor to a decentralized market but if the government will still control this market, maybe its not good for bitcoin and of course its not good for us. Regulations might increase the possibility of mass adoption but we are not sure about that, i just hope that every country will make bitcoin legal.

it must not be either good or bad for bitcoin to get regulated or not. because bitcoin is decentralized and that means it should never care about what the centralized authorities think or say about it. they can ban it or adopt it and in the end it should not change a thing.

but also we are living in a society with laws, so obviously regulations can ease the adoption. it is not about feeling safe, it is about not feeling threatened by the government bullying you because you don't want to hand over your financial details to them! or give full control of YOUR money to them!!!

I totally agree with you! This creates an imbalance between rich and poor. Secondly, regulation is control, it is an approach to centralization from which we so want to get away. This is absolutely bad for us.

Problem here is that Bitcoin is not an investment, its purpose is not to give the buyers a significant return in future but it's purpose is to be used as a medium of exchange between people just like any other currency.
Now the problem is if it would be regulated by the government. They would not allow it to use it as a normal currency because every government wants transactions to take place in their currency so it could gain some strength. Coming to miners why would government those miners who aren't even paying taxes as they are not at all disclosing their incomes. Basically governments aren't getting any advantage in return of making Cryptocurrencies legal.

i guess the OP forgot the 2007/8 regulated financial crisis, and why bitcoin was invented.
here is a quote from the genesis block as a subtle reminder.

'Chancellor on brink of second bailout for banks '

also to note, people do not actually understand what regulations do/are.
most regulators actually ask businesses to create their own policy handbook to self restrain themselves from immoral actions.
this is why some businesses never see a court room because they contract themselves and/or their customers into seeking recourse through hidden meetings, tribunals, arbitrations. businesses set themselves up as entities with no authority owner, thus if crap does hit the pan, there are no humans held liable and only some business setup insurance policy, which usually whn businesses want to crap the pan on purpose, leave the insurance dry of funds/lapse

regulators are not so much police investigating businesses and punishing them in the name of the normal people. instead they are just office dwellers waiting to see if anyone reports a business for breaking a rule which the business had some hand in creating in the first place.

regulators are not sherrifs. they prefer to restain the normal people from doing certain things while letting businesses do as they please as long as it dosnt get reported. and knowing businesses have NDA contracts with thier employees and also now that whistleblowers get in more trouble than a reported businesses ceo, regulations do not help anyone.

regulations are not there to protect the common man. but just some gold laminated registration number that some business paid alot of money to get certified. kind of like kindergardeners with a golden sticker on their shirt saying 'teachers pet'
done so it appears they are official and above board, while secretly getting upto mischief behind peoples back.

just remember to ask yourself, how many bank ceo's are doing prison time due to 2007/8

The bitcoin is created to be decentralized, so when the bank regulated it, I don't think it will be good for bitcoin. Bitcoin is for everyone and I don't think Bank should regulate it because the reason a lot of people are investing into bitcoin because it is decentralized and you have no tax to pay at all. In conclusion bitcoin should stay decentralized and should not be handle/regulated by bank.

I cannot see a necessary connection between regulation and manipulation.

In the same way that I cannot see a necessary connection between regulation and what happened to your "friend" and "some of my friends." If one buys BTC when it is at its peak, more likely will he be experiencing some losses because there will be corrections to follow right after. That is a given. Not to mention the fact that the price of BTC is always moving up and down. This has nothing to do with regulation. It has anything to do with your "friend" falling victim to FOMO.

The case of your other friends is a mere case of blindly joining the bandwagon, doing things without a careful plan or research beforehand, or too eager to start something. 

Regulation is both good and bad depending on which viewpoint you are looking at it.

Is it good for us ? We are also being regulated by the government.. it might be good for some people but there is a huge discrimination and everyone can see that ..
The corruption , the biased , the policies killing off people and people making rich richer and poor poorer ..
Is it good ?
I think maybe for some countries , not for all .
When they are regulating they impose huge tax on the Bitcoins related things ..is it good ?
I think not