Quote from: CryptoBry on September 11, 2017, 03:41:29 AM

Quote from: nunchuck master on July 20, 2017, 10:26:02 AM

The concept of cryptocurrencies is based on trust. If it is fully implemented in all aspects, there is trust within the community and technical solutions applied to provide the security of network, then there will be no need for centralised control.

However, we have to consider that as humans as we are, things are subject to human nature. There will always be people who can find many ways to use Bitcoin for their own good to the detriment of all other people that is why many governments will not just allow the utilization of Bitcoin without the needed regulations in order to protect the users and also to make sure that it is not something beyond their control. There is a need for a compromise because once the state will ban Bitcoin then doing business can be a big hell and Bitcoin will drive to the floor.

Yes, once this happens there will be a need for compromise between the state and bitcoin users otherwise there will be chaos. It is the government's duty to protect with its citizens and along with this, they should cater to the needs of their people and listen to their voice. In making regulations, it should be in favor to the bitcoin users and not only for the purpose and generating revenue. If they are going to impose fees, it should be at the advantage of the users and not be detrimental for them.