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Who regulates Bitcoin?

I had a conversation with a friend today who asked me why these scamming sites are not shut down, who regulates Bitcoin?

Well there is a two fold answer here.

Bitcoin itself is regulated by it’s own blockchain and the mathematics behind that. So in itself Bitcoin is pretty much unshakeable. However people who set up scam websites are just using Bitcoins as a currency for wrong. (although some people DO make some money from these websites before they stop performing).

We are used to be cushioned by our governments and banks. Bitcoin breaks out of that giving us a platform that can be used for just about any purpose. That doesn’t actually mean these sites are immune to prosecution, but it would be more in the sense of selling drugs or tangible things that the authorities can get their hands on.

At the end of the day YOU regulate your Bitcoin.

Instead of sitting all comfy with other people’s rules, WE ourselves regulate and are responsible for use of our Bitcoins. It’s my and your choice!

Because Bitcoin itself is trustworthy what people do with it, bad or good, is up to them, if you get involved and get burned then really that’s up to you.

Perhaps the time has come for us to take responsibility for our wealth and not cry and moan when something that obviously looks bad turns out to be a scam.

Regulate Greed

If you don’t have a lot of money, it’s easy to be driven by greed, or even just be the desire to have a better life. Control your desire for money making! I regulate my investments by regularly investing in LOW RISK bit coin mining and occasionally testing high risk sites.

It’s your coin, be responsible for it and enjoy your freedom!

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