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[aryan4]

At Reuters' online Next conference,
"Bitcoin is a highly speculative asset," said Christine Lagarde, head of the European Central Bank, stating that Bitcoin should be regulated. Lagarde claimed that Bitcoin was used in some funny, entertaining sectors, as well as in completely illegal, prohibited and money laundering activities.
What do you think of these statements by a highly authoritative person?

 

[sagefave]

Of course everyone is talking about bitcoin, some people still think it is a scam.
Some people want to have custody and control of it.
Others hope to make some money out of it. Bitcoin is now accepted and bought in almost all countries worldwide. And no one know its creator, we all love the bullshit tale of the anonymous moniker.

 

[mcjerry001]

At Reuters' online Next conference,
"Bitcoin is a highly speculative asset," said Christine Lagarde, head of the European Central Bank, stating that Bitcoin should be regulated. Lagarde claimed that Bitcoin was used in some funny, entertaining sectors, as well as in completely illegal, prohibited and money laundering activities.
What do you think of these statements by a highly authoritative person?

Bitcoin is a world free currency that can be used anywhere, by anyone no matter the groups. That is why it is called anonymous coin. Moreover it can't be regulated.

 

[aryan4]

Regulations regarding Bitcoin have been on the agenda for a long time. But so far, no specific regulation has been made in this regard.

 

[Niftyicon]

Regulations regarding Bitcoin have been on the agenda for a long time. But so far, no specific regulation has been made in this regard.

Do you think that there are some uncertainties as regards setting up these regulations about how effective they would be on decentralized currencies? Or could it be that there are different sides, so, making it difficult to make a conclusion?

 

[GoldenLady]

Bitcoin is a threat to fiat currency and most financial organization that depends on fiat will always feel the need to control it too.

 

[SCAMEXPOSER]

There is no Currency that is not used for illegal activities so bitcoin is not an exemption but regulating the activities will give it more security and reduce crime , KYC is a measure for regulation.

 

[aryan4]

There is no Currency that is not used for illegal activities so bitcoin is not an exemption but regulating the activities will give it more security and reduce crime , KYC is a measure for regulation.

You are absolutely right.. Authorities often bring up this situation. They bring it to the agenda but still cannot make the expected legal arrangements.

 

[SCAMEXPOSER]

It is no doubt that bitcoin and other Crypto currencies will be used illegally because people are never the same and different individuals with different motive. I don't illegal use of bitcoin is enough reason to ban it

 

[aryan4]

Bitcoin is a threat to fiat currency and most financial organization that depends on fiat will always feel the need to control it too.

Yes they will definitely try to control it, but I think they will never be able to do that completely. But somehow positive laws are still hopefully made.

 

[SCAMEXPOSER]

If bitcoin will be a threat to fiat currencies in my opinion, the Currency should be USD since it is the international Exchange currency and it value fluctuate more often.

 

[Ptrikha90]

Do you think that there are some uncertainties as regards setting up these regulations about how effective they would be on decentralized currencies? Or could it be that there are different sides, so, making it difficult to make a conclusion?

I think that both the regulation and its implementation in case of Bitcoin and other crypto is tough to implement and perhaps needs technical changes.
Yet I think some sort of regulation is needed, but not a micro level and not like the regulations on Dollars, Pounds, Euros etc!

 

[Josemendez]

I think all these are coming from people who do not know anything about cryptocurrency and it's benefits ,and also those who want to benefit from cryptocurrency dealings.

 

[Reznov]

when it gets regulated, it will for sure lose some of its value, but if we look on the other good side, crime related to it will be reduce, same goes to every other illegal activity and it will be accepted as a main payment method in the country

 

[aryan4]

when it gets regulated, it will for sure lose some of its value, but if we look on the other good side, crime related to it will be reduce, same goes to every other illegal activity and it will be accepted as a main payment method in the country

Perhaps what you said can be discussed after a legal regulation. They just talk, but the authorities do not make any apparent effort to make the necessary arrangements.

 

[SCAMEXPOSER]

when it gets regulated, it will for sure lose some of its value, but if we look on the other good side, crime related to it will be reduce, same goes to every other illegal activity and it will be accepted as a main payment method in the country

Yes the crime rate will definitely be reduced especially if the wallet and Exchange platforms enforce the kyc verification intensively for all users.

 

[Brain]

Of course everyone is talking about bitcoin, some people still think it is a scam.
Some people want to have custody and control of it.
Others hope to make some money out of it. Bitcoin is now accepted and bought in almost all countries worldwide. And no one know its creator, we all love the bullshit tale of the anonymous moniker.

Yeah I support it's regulation. If it is regulated a lot of people or nation's will want to key in and use Bitcoin for the betterment of their economy.this might even stop a lot of criminal activities

 

[GoldenLady]

As the use of cryptocurrency has been increasing they also fear losing their control gradually.They understand that if everybody becomes to use crypto then no need for any bank or middleman. Anybody can deposit and sending money on their own with the help of a mobile or desktop. In that case, no need for any European Central Bank, banking will be at your fingertips.

That's why I believe that will never support cryptocurrency. It is a huge threat to their dominance and control over finances of people.

 

[Josemendez]

That's why I believe that will never support cryptocurrency. It is a huge threat to their dominance and control over finances of people.

Yeah ,but the only option they have is to regulate it usage in such a way that it favour them through taxation . Less they can't be able to do much

 

[aryan4]

That's why I believe that will never support cryptocurrency. It is a huge threat to their dominance and control over finances of people.

Generally they don't support it anyway. The first thing that comes to mind of many officials when it comes to regulation is taxation. There seems to be no effort for now that can positively regulate the markets.