If there is regulation it could create less volatility in the product though.

You bring up an interesting point with the taxes JOKER. I'm thinking business expenses to write off, and if the new tech. doesn't fall specifically within a legal definition, what type of expense exactly would a person it, the new tech. they used for a business purpose, under?

I totally agree with the statement that technology always out-paces regulations. That being said, the government entities that are trying to do it should all get together and decide upon "what" it is. Otherwise, people won't know what to do on their taxes.

FrankN wrote:

Joker wrote: The blockchain is starting to cause issues already. I read an article that said that the SEC, IRS, and several other organizations that deal with trading and life, in general, are looking especially at Bitcoin being used for money laundering, crime and more. Everyone seems to be in agreement that there should regulations, but no one department has stepped forward to do it. The SEC won't recognize them, the IRS looks at them like property, others say they are commodities. We are looking at some type of regulation coming down the pike on this problem.

If it continues to grow, there is no way there won't be regulation.

But by the time there is, it will be so behind the curve that it will be rather pointless. That's the way it is though. Technology has always outpaced the laws that would regulate it.

I'm waiting for the governments in other countries to down right seize it all from their citizens - China and even India especially. China's government bans things that it can't control, but that doesn't work (and it hasn't) then they'll take it all. India's government is fond of seizing currency and gold.

Want to mention that Trump has just recently put people in place to soften regulations on banking and financials (they have already started). There is a lack of interest for hurting corporations over individuals so one can only be hopeful. While net neutrality is its own topic this is another example of letting large business do what ever it wants.

Joker wrote: The blockchain is starting to cause issues already. I read an article that said that the SEC, IRS, and several other organizations that deal with trading and life, in general, are looking especially at Bitcoin being used for money laundering, crime and more. Everyone seems to be in agreement that there should regulations, but no one department has stepped forward to do it. The SEC won't recognize them, the IRS looks at them like property, others say they are commodities. We are looking at some type of regulation coming down the pike on this problem.

If it continues to grow, there is no way there won't be regulation.

The blockchain is starting to cause issues already. I read an article that said that the SEC, IRS, and several other organizations that deal with trading and life, in general, are looking especially at Bitcoin being used for money laundering, crime and more. Everyone seems to be in agreement that there should regulations, but no one department has stepped forward to do it. The SEC won't recognize them, the IRS looks at them like property, others say they are commodities. We are looking at some type of regulation coming down the pike on this problem.