Why do govt.s require to regulate BTC???
honestly...can't we self regulate...or maybe can we have faith in a regulatory algorithm that prevents....money laundering???
Kindly answer...
I don't think 'self regulation' will happen. Best would be clear regulation by each government (so that people are not afraid to buy and spend with btc, pay their taxes etc), that would secure customers into using it on an everyday basis. Many people still trust their government to protect them. I think bitcoin is a fantastic tool and is a perfect payment method and I really wish this to be widely used. Just not many people using it to buy things yet, compared to credit card. (Well not in our business anyway).
From what I can see (any I may be wrong) It is still mostly an investment gambling activity, based on the swings of the value, people buy and sell en for currencies not much for products or services (well, legal ones). My opinion is this will have to change and value will have to stabilize before people get comfortable spending em instead of holding em for future profit.