Quote from: Funeral Wreaths on November 04, 2017, 01:15:25 PM

Quote from: SushiMonster on November 04, 2017, 01:04:46 PM

The lack of regulation of government with bitcoin is making its security easy to breach. Well although a lot of senior users here are very much knowledgeable in securing their bitcoins, a majority of new users - like me doesn't have an assurance that my bitcoin is safe. I'm just storing it on an online wallet because my bitcoin savings is not that big. However, I'm not sure that if ever my account got hacked, I can still process to make a run for it or like file a complaint. If the government is controlling/regulating bitcoin, there will be protocols that will be followed in every transaction, and they can trace any illegal doings. However, they can get a significant amount of money from bitcoin, well I just hope that if that time will happen, they will use the money for the people of the government.

it may be easy to breach but the problem here is that, if that is possible to happen more and more people would actually protest against it, i guess, its not also a nature of bitcoin to be controlled or be asked to follow tge government's protocols. Did you ever wonder if this will likely happen? I was also wondering about it since before, and we all knew that the government wont just sit still about it, but what's going to happen will always happen.

You got a point there sir. If more users are getting their accounts hacked - probably a lot of people might have left investing in bitcoin. Bitcoin is a very dynamic currency and controlling it by the government would be a difficult task for them. I guess in some countries, their government is making baby steps on how they can regulate the bitcoin. Recent news, China's government tried to banned bitcoin in their country - reason because it's their step in enforcing capital controls.