Ninjastic
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Re: [2018-06-07] Bitcoin Hype ‘Has Barely Even Begun,’ Says Blockbid COO
by
Lucius
on 09/07/2018, 09:40:40 UTC
Quote from: sindikat on July 08, 2018, 12:42:07 PM
Quote from: Lucius on July 08, 2018, 12:14:32 PM
Quote from: Kakmakr on July 08, 2018, 09:54:06 AM
I want to agree with him on one thing and that is that regulation is always a few years behind new innovative technologies and Bitcoin is one of them. It is difficult for companies to ignore the lack of regulations and to continue accepting Bitcoin as a currency, because they would be moving in a grey area and even possibly breaking the law, by doing that.  Roll Eyes

Once Bitcoin is clearly defined by these regulations, we should see a a increase in adoption.  Grin

This is true, it is hard to expect greater integration of BTC in daily life when so many things are still in some gray zone. Unfortunately, regulations of cryptocurrency goes pretty slowly, at least from perspective those who show interest in this matter. It is not a question can this job can be done much faster., Japan, Germany, Malta and some others countries have shown us that is possible to do that, and they benefit from it. New jobs are being opened, state revenues grow from collected taxes and cryptocurrency is moved from dark or gray zone in something completely legitimate and available to everyone.

My opinion is that the regulation of cryptocurrencies does not help the growth of the popularity of cryptocurrencies. Regulation is aimed at making the asset less profitable and people have lost interest in it. I am against regulation in any form. Unfortunately, many users of cryptocurrencies do not understand this.

You have the right to your opinion, but it's difficult to imagine that states, governments and complete financial system just watch and do nothing with cryptocurrency. BTC is a great invention, but complete anonymity and independence from existing systems is simply impossible.

You say that the regulations will make crypto less profitable and that is true, you will need to share part of your profit in the form of tax, but I do not agree that people will lose interest for cryptocurrency. On the contrary, let's take an example of Germany where regulation is done and you know what can you expect when you work with crypto - citizen of Germany can buy BTC, hold it 1+ year and sell it without paying any tax. If you look just on this example you can see that asset is not less profitable, and people have more interest to invest now then before.