It does not matter if they regulate it, people will find other services taht don't have annoying regulations and will use those. Government regulation attempts against Bitcoin are futile.
It's true, most people would bail from those services and opt to go and use other businesses that simply ignore the regulations one way or another, and then if the government was to try and stop that, people would go to another site. It's like what happened with the Silk road; it was shut down, another started up, then that one was shut down and another started. You can't win a fight like that. 
Topic: Will regulation make bitcoin slower? - page 2. (Read 1879 times)
We should consider few things before discussing about this issue. Does bitcoin needs regulation? If yes then on what terms bitcoin regulation will be based on? If no then how it’s going to affect the traditional economic contribution (taxes).
I personally don’t think that this currency needs a regulator but we as a community should solve few major problems like misuse of the anonymity and we can’t really afford to have the investors from criminal side (because governments will have the official reason to kill bitcoin). Bitcoin is evolving and this is the best period to shape its future, we must act in short term to solve long term problems if we really care about it.
I personally don’t think that this currency needs a regulator but we as a community should solve few major problems like misuse of the anonymity and we can’t really afford to have the investors from criminal side (because governments will have the official reason to kill bitcoin). Bitcoin is evolving and this is the best period to shape its future, we must act in short term to solve long term problems if we really care about it.
It does not matter if they regulate it, people will find other services taht don't have annoying regulations and will use those. Government regulation attempts against Bitcoin are futile.
first thing i will say is bitcoin can never be regulated by anyone if it did then yes it willl slow down the network and on the second thoughts if government regulates it then they are probably will take care about our coins like help us if we got robbed or something like that
I disagree, bitcoin can certainly be regulated. You just watch.
As far as OP goes, when I sell something on Ebay I have immediate access to my money. So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this. At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.
i don't agree.. there is a difference in being traceable and being regulable. Government can and will try to trace you bitcoins but they definitely can't force/prohibit withdrawals and deposits, specially in offline wallets. As far as OP goes, when I sell something on Ebay I have immediate access to my money. So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this. At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
this doesn't even make any sense!!!
you are saying if we don't want the government to call our earning illegal we have to put them on an exchange site :O
storing or even transferring your bitcoin to an exchange site is the riskiest thing you can ever do, and being regulated or not will not prevent them from scamming you and running away and government will not do anything for you then.
Yes it will make bitcoin transaction slower, without the interfere from government the bitcoin transaction is already slow, if add another regulation then the transaction will become slower and if it pending until days then the bitcoin user will find another coin to invest and to do transaction, this is not a great news for bitcoin future
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
You hit the jackpot my friend. The government can regulate all sites that host wallet. They will give terms and conditions that must be followed by users. Also if you dont follow the guidelines your wallet may be blocked. Lastly if government will regulate bitcoin, some wallets that are not aligned with a certain countries condition will not be allowed to render their services in that country.
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
You hit the jackpot my friend. The government can regulate all sites that host wallet. They will give terms and conditions that must be followed by users. Also if you dont follow the guidelines your wallet may be blocked. Lastly if government will regulate bitcoin, some wallets that are not aligned with a certain countries condition will not be allowed to render their services in that country.
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
I believe regulations will not make bitcoin slower because bitcoin works in different way and not like paypal. bitcoin works on number of confirmations. only thing government can control is wallet ,already some countries regulated like need to follow tax rules on the holding bitcoin wallet.
I think holding of funds might be country specific but there is no doubt that plenty of things that we currently take for granted are going to change if Bitcoin gets regulated. There is nothing to be done about this, if we want to go mainstream, we'll need to make concessions.
Any direct transfer between Bitcoin addresses not going through centralized services will not be influenced at all. If these services make use of off-chain solutions, then they could most probably implement something like this. Any on-chain solution will make no difference at all at the speed at which these tx's could be done. ^smile^
It will become slower if the regulation is being hold by the government as they are always finding way to reveal your identity,at some point they are just about your security. But if its some private/public community handling the regulation I think it will not slow down as the progress of evolving/enhancing the speed of transactions are limitless and cannot be mandated by the government.
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
Bitcoin is very different than PayPal and could never be regulated in a similar way.If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
As history has shown exchanges and online wallets can not be trusted to keep your coins safe.
PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?
since government can't regulate bitcoin but instead they can only regulate the businesses using bitcoin then if the slow you say happens (which i don't think is the case because of how bitcoin works) only those services will be slowed not bitcoin. so stop using those services.
I think that thing is possible but government cannot regulate bitcoin maybe they will try to arrange exchange you so all transactions for withdrawal of funds to the account will be on hold for 48 hours.
Bitcoin can't be regulated and also if government try to regulate bitcoin exchanges/withdraw service than they can only have daily limit for both exchange/withdraw they can't fully track bitcoin source and have legal action.
I disagree, bitcoin can certainly be regulated. You just watch.
As far as OP goes, when I sell something on Ebay I have immediate access to my money. So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this. At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.
Yes and no, an overly regulated bitcoin will just be forked into a less regulated version if somehow the government has too much power over it. As far as OP goes, when I sell something on Ebay I have immediate access to my money. So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this. At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.
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