So...
After this MtGox fiasco (can't be put in any other way) many people are asking for the regulation of Bitcoin.
This can be looked at from a number of perspectives.
Should we go down the non regulation route, Bitcoin would continue as it has done. Obviously we can't predict the long term performance of it, but we can say this. If Bitcoin remains unregulated, we can assume and almost be certain that it won't be long before something similar to the MtGox fiasco happens again. We've seen endless cases where Bitcoins have been stollen and lost be it on the dark web or not. If BTC was regulated, it would put a stop to such occurrences and it would increase the confidence in Bitcoins and remove any doubt of people losing their savings as has happened in the past. Of course there is always a possibility that even with regulation similar occurrences can happen. We've seen it with Northern Rock and Lehman Bros etc. These are examples that even with regulation and centralisation, all commodities are prone to disaster.
This presents a strong argument for the regulation of BTC.

However, one of the attractions of BTC is its decentralisation and lack of regulation. If it were to be regulated, I'm sure a number of people would cash out and convert to gold/silver. It is true that BTC has been used for crime, money laundering and other shady business, but now as it becomes more accepted, its clientele is changing and perhaps regulation may drive away a small percentage of its users whilst attracting a larger user base.

The fact remains that this can't go on. Something must be done. BTC doesn't need to be completely regulated, rather it has to have a form of regulation. The only question is, what kind of regulation does it need? BTC will remain decentralised. We need to find a method to regulate it to an extent which will only expand its use and acceptance.

BTC is here to stay... We just need to find a way of improving it!

Any suggestions?

P.S I'm half asleep so I haven't managed to include all aspects and give either argument to its full. My sincere apologies.