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    Author Topic: Why do we need to regulate digital money  (Read 5064 times)

    • SteelPaladin48
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    April 05, 2018, 06:34:43 AM
     #21
    Quote from: Hui8 on April 05, 2018, 06:28:34 AM
    Perhaps the exchangers will become the place to do the money laundering? I mean still depends on the what kind of regulation they will impose on the exchangers. If it just tracks the transactions happening at the exchanger then it wont be much useful as our addresses still remain the anonymous. There are services like bitcoin mixers where we can get the anonymous characters unfolded and no will know we were the one who did that transaction. Correct me if I a wrong with this ? There Will always be different ways of making the whole transaction anonymous and thus keep it untraceable. This is as long as we do not transact in the bank accounts. However the later is still the same case as if today.

    Yeah your correct, but the thing is most of the cryptocurrency holders still relies bank transactions to convert their fiat to crypto and vice versa. So still, transactions can be traceable, I agree with others, regulations are still needed but not to the extent of removing the anonymity of cryptocurrency.

  • Crytptomeniac
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    April 05, 2018, 09:11:23 AM
     #22
    We need regulations so one person or a few people who have a lot of coins in their possession cannot just sway the market in their favor anytime they wish thereby screwing everyone else over. And it will eliminate insider trading.

  • Tambu
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    April 05, 2018, 09:37:10 AM
     #23
    I not against to regulate the cryptocurrencies. There are advantages on it.  At least there are laws that will protect the crypto holders.
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  • aimey
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    April 05, 2018, 09:40:05 AM
     #24
    its because they want to stop manipulating the price of digital currency and avoid terrorist to use it.

  • Kotone
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    April 05, 2018, 09:42:20 AM
     #25
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?

    Digital currency or more commonly known as cryptocurrency needs to be regulated as it needs to have features in olace that will protect us the consumer and those that would operate this from misuse and other kinds of fraud. This is also needed so that we can be accepted, anything that is unregulated or anything that goes unchecked can basically be a conduit for something that can be used for heinous schemes and this are something that we should all worry about.

  • bright4mech
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    April 05, 2018, 09:53:05 AM
     #26
    Digital currency has changed a lot of things for a better future used with an immediate response of return, secondly, based on great return performance, government start looking towards it, Crypto is real and flourishing well, and also crypto-currency has no stress or physical security guard or any aim force used as security, while blockchain technology can handle everything, with personal private key.

  • zakirazak
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    April 05, 2018, 02:04:48 PM
     #27
    how much of the rules are indispensable for maintaining the integrity and safeguarding of individuals from criminal behavior whether directly or indirectly can be induced in the atmosphere of Decentralization. Until today, this cryptocurrency activity involves multiple parties and to identify the parties involved is not easy because the transaction does not involve the owner's identity. in my view, the government has the power to organize the people involved with cryptocurrency but it is still difficult to control information fraud.

  • infested
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    April 05, 2018, 02:06:26 PM
     #28
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?

    Regulation is good, it will lead to mass adoption.

  • AliMan
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    April 05, 2018, 02:21:27 PM
     #29
    Quote from: infested on April 05, 2018, 02:06:26 PM
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?

    Regulation is good, it will lead to mass adoption.
    Digital currency like bitcoin before used by criminals, terrorists, extortionists, and money launderers to buy something illegal, to cleanse their money and to fund a terrorism. Since, it is decentralized therefore no one can even trace their transaction. We must need to regulate digital currencies to be able to be more secure the trasaction and will not be able to use in bad deeds.

  • Kprawn
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    April 05, 2018, 02:50:53 PM
     #30
    Regulation is not going to stop crime. Drugs are still mostly being bought by Cash and people still use stolen credit cards on

    the internet. The regulations will make it a little harder to do these things, but it is only going to slow it down. There are still

    ways to bypass any regulations, if you buy faked documents. Some regulation is not a bad idea, if it can isolate the good

    from the bad.  Roll Eyes
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  • Jonsnowstark
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    April 05, 2018, 03:03:11 PM
     #31
    We need to make sure cryptocurrency will not be used for illegal activities such as money laundering and terrorism. These are major problems that the world is crying out loud to avoid. If this will be funded by cryptocurrency due to anonimity and untraceableness of transactions, all the more we need to regulate it.

  • Harrisonimo
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    April 05, 2018, 03:11:57 PM
     #32
    They say that when the use of something is not known, abuse sets in. Also, I want to believe that every  good thing can also be misused/ abused! The call for regulations in the digital money market is now necessary because it appears that control has been thrown overboard seeing every Tom, Dick and Harry now going into bitcoin and even launching ICOs! This has to be put in check and quickly too!

  • Gaff
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    April 05, 2018, 03:25:20 PM
     #33
    Quote from: d0flaming0 on April 05, 2018, 03:43:36 AM
    Quote from: pooya87 on April 05, 2018, 03:25:01 AM
    we don't need to regulate cryptocurrencies but regulations can be also helpful with the adoption and growth of them or they can be restrictive and even prevent the adoption altogether. in the end it will come down to what they are regulating and how. for example if it is regulation of exchanges and if it leads to a more secure place where people can trade with less risk that would be a very good thing.
    its a good idea to think there is a proper regulation among cryptocurrency, and it doesn't mean it is required to be implemented. i agree with what you are trying to say, besides it is also one of the factors that will help the digital currency grow and according to you it will lead to mass adoption and avoid higher risks among users.
    It sounds interesting! Bitcoin is a decentralized digital currency and is managed by single administrator. With its almost decade of existence it has become its trend already and adapted by many. But I think regulating it is not a good idea, bitcoin is already safe and secured. It started as decentralized I think it has to continue its legacy.

  • makolz26
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    April 05, 2018, 03:29:48 PM
     #34
    Quote from: Gaff on April 05, 2018, 03:25:20 PM
    Quote from: d0flaming0 on April 05, 2018, 03:43:36 AM
    Quote from: pooya87 on April 05, 2018, 03:25:01 AM
    we don't need to regulate cryptocurrencies but regulations can be also helpful with the adoption and growth of them or they can be restrictive and even prevent the adoption altogether. in the end it will come down to what they are regulating and how. for example if it is regulation of exchanges and if it leads to a more secure place where people can trade with less risk that would be a very good thing.
    its a good idea to think there is a proper regulation among cryptocurrency, and it doesn't mean it is required to be implemented. i agree with what you are trying to say, besides it is also one of the factors that will help the digital currency grow and according to you it will lead to mass adoption and avoid higher risks among users.
    It sounds interesting! Bitcoin is a decentralized digital currency and is managed by single administrator. With its almost decade of existence it has become its trend already and adapted by many. But I think regulating it is not a good idea, bitcoin is already safe and secured. It started as decentralized I think it has to continue its legacy.
    For some reasons, we need to regulate it because we need to have something that really needs our assurance and protection, so that many investors will have the confident to invest here and it is a better way idea rather than banning bitcoin in one country.

  • Sedorikku
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    April 05, 2018, 03:57:28 PM
     #35
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?
    Hello everyone, digital currency can change the world, many people were thinking of positive about bitcoin. There are some reason why do we need to regulate our digital money is because we need to think about our future and for other instances in our lives.

  • Sedorikku
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    April 05, 2018, 03:59:37 PM
     #36
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?
    Hello everyone, digital currency can change the world, many people were thinking of positive about bitcoin. There are some reason why do we need to regulate our digital money is because we need to think about our future and for other instances in our lives.

  • B1tUnl0ck3r
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    April 05, 2018, 04:02:45 PM
     #37
    Quote from: lantan81383628 on April 05, 2018, 03:13:24 AM
    Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


    One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


    If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?

    no because people must stay enslaved, at the mercy of the powerful, unable to defend their loved ones from their sexual appetites...

    your reasoning is flawed, computers are used by criminals so regulate computers? pens are used by criminals so regulate pens?

    the system of exchange and accounting isn't per se criminal.

    cars too are used by criminals...

    kill the terrorists (like bill clinton and hillary) but not the means of payments.

    bank notes are used by criminals...

    etc

    etc.

    they can always get paid in underage sex slaves...

    frankly you are so naive.
    When the people of the world will get that covid was intentionally released to frame china, steal the election from trump, assure massive bail outs and foster the forced vaccination agendas...they will forget, like 911, wmds in irak, uss liberty or pedogate.

  • BrewMaster
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    April 05, 2018, 04:02:55 PM
     #38
    you are getting a couple of things wrong.
    bitcoin is a digital money but digital money is not bitcoin. digital money is broader than just covering cryptocurrencies. you can also call Paypal digital money and it has nothing to do with cryptos.

    also anonymity is not the same as privacy. bitcoin is not anonymous but it gives you a good privacy which should be violated in my opinion.
    There is a FOMO brewing...

  • RicardoRicky
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    April 05, 2018, 04:07:58 PM
     #39
    I think the digital currency needs to be properly regulated because of its soft sensitive and vulnerable nature of the action of the phishing of bad people, because almost all its activities are practical then this tends to happen a negligence from one of its users, because it is very necessary to increase the security and guarantee that definitely against the digital money. although we are spoiled with a security and a guarantee from the government or from the bank concerned, it's good to always be wary of potential abuse of digital currency, it is considered important for the good of individuals and groups.

  • Wind_FURY
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    April 06, 2018, 05:48:15 AM
     #40
    Quote from: Kprawn on April 05, 2018, 02:50:53 PM
    Regulation is not going to stop crime. Drugs are still mostly being bought by Cash and people still use stolen credit cards on

    the internet. The regulations will make it a little harder to do these things, but it is only going to slow it down. There are still

    ways to bypass any regulations, if you buy faked documents. Some regulation is not a bad idea, if it can isolate the good

    from the bad.  Roll Eyes

    Regulations also subsidize criminals if you think more deeply about it. How did the Italian gangs become so rich during the 1920's? It was because of the prohibition of alcohol. There were some groups of people who saw it as an opportunity to become rich.

    The same with our time today. Drugs are prohibited, and so the drug cartels were formed and have accumulated enough money and political power to be as big as multinational corporations.
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