12 years and no country has approved Bitcoin ?? - page 6.

wxa7115

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Quote from: DeathAngel on October 12, 2020, 04:55:56 PM

Bitcoin doesn’t need governments to fall in love with it. National currencies are in a whole new world of trouble now with a great recession brewing, people with flock to bitcoin to preserve their wealth. Govs will have no chooce but to get bitcoin friendly or get left behind.

I really think we are going to see the governments and the people clashing out on the subject of cryptocurrencies, when we finally see a collapse of fiat currencies around the world people are going to want to protect their wealth which is completely natural and they will find in gold and bitcoin good options to do so, but governments want you to keep using their currencies so I have no doubts that at some point cryptocurrencies will become illegal.

However just as what happened to alcohol on the US the will of the people will make prosecution impossible as they will consider the law unfair and governments will eventually accept cryptocurrencies as it will be more profitable for them to tax them than to try to arrest every single person dealing with them at the time.

AakZaki

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Quote from: travwill on October 15, 2020, 04:17:07 AM

But neither has prohibited and cannot forbid. In each country, one way or another, there are different methods and methods for withdrawing cryptocurrency into fiat currencies. This significantly expands the financial functionality of people and also opens up additional financial opportunities. Without these opportunities, people would be too tied to the standard financial system and have a much wider range of restrictions than they are now. Cryptocurrency reduces government control over people.

The government does not have control over the cryptocurrencies that people hold. However, for several countries that have regulated and legalized the use of cryptocurrency, each transaction and asset value will be calculated and will be taxed for the owner of the asset.

However, for some developing countries, such as in my country, Indonesia, cryptocurrency is only legalized as commodity trading and is not allowed to make legal payments such as payments using the national currency.

Bitcoin is a future financial technology that has many advantages and also some disadvantages that need to be developed. Many large companies are starting to adopt bitcoin and some of the other big companies will certainly take part sometime in the future.

carter34

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The government is not a friend to whatever they can not monitor or control and that is what government should be about for the guide for people because most government think bitcoin isn't a good innovation for the society. Bitcoin is decentralized and won't be controlled and some countries ban the use while some countries didn't ban it. So not all the country made ban on bitcoin, countries around Europe are accepting the use.

Dorodha

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It is a virtual currency with no controlling country no organization no bank it's very difficult to predict the longer term. nobody can say which to go Bitcoin is decentralized and nobody can control it. Many countries support the govt but they're unable to regulate it completely. Bitcoin is against the law in most countries legally it's no agency no financial institution controls it. Its medium of exchange is ongoing as a results of its global use by individuals or entities although the transaction is extremely convenient it'll take an extended time to be fully valid.

Reatim

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Quote from: Nhor1011 on October 09, 2020, 01:22:07 PM

Always remember that Bitcoin is decentralized digital currency and government has no control over it. Also every country has it's own currency used by all people on their daily lives. They are more familiar with it rather than using a bitcoin. Not all people know about bitcoin ,so, I think let's just be contented that we still use bitcoin not just as investment but also an alternative to fiat currency although government not accepted it.

Contented? Of course we must not feel contented because if does then we had already admit that this is the only value we can achieve?
remember that the progress of the whole crypto market and community Lies on how far we will travel and how much we can achieve.
and we cannot have any big development if adoption wont happen,lets forget about the government adaptation because indeed it will take long but at least we encourage more people to learn and try using crypto for their own good and of course ours.
Soon after this we will surely grow and the prices of crypto specailly bitcoin will go forward and reached another All Time High like what it did in 2017 and the past years also.

travwill

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Quote from: Nhor1011 on October 09, 2020, 01:22:07 PM

Always remember that Bitcoin is decentralized digital currency and government has no control over it. Also every country has it's own currency used by all people on their daily lives. They are more familiar with it rather than using a bitcoin. Not all people know about bitcoin ,so, I think let's just be contented that we still use bitcoin not just as investment but also an alternative to fiat currency although government not accepted it.

But neither has prohibited and cannot forbid. In each country, one way or another, there are different methods and methods for withdrawing cryptocurrency into fiat currencies. This significantly expands the financial functionality of people and also opens up additional financial opportunities. Without these opportunities, people would be too tied to the standard financial system and have a much wider range of restrictions than they are now. Cryptocurrency reduces government control over people.

witcher_sense

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Quote from: imstillthebest on October 14, 2020, 11:45:37 PM

isnt it scary ? what if your government declare a btc ban

From my point of view, you shouldn't be worried that bitcoin will be banned in your country if your government is respecting and protecting the rights to freedom of speech. Bitcoin is a code that contains only letters, numbers and symbols, nothing else. The Bitcoin code is in essence a means of expressing one's thoughts. It is a speech, a free speech. For example, in the US the free speech is protected by the first amendment. You have a constitutional right to use bitcoin, because it is a speech that threatens no one meaning it could be protected under the law. In those countries where constitutions don't work as intended, where constitutional rights aren't protected and respected, where the very existanse of the rights is consistently ignored, it is not protected under the law, however, it is still impossible to ban a decentralized network.

Marina5

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Ever since I got acquainted with Bitcoin, I have heard that Bitcoin will be gone forever. But the price of Bitcoin is increasing day by day and also the uses of Bitcoin. Thinking about the future, I think gradually everyone will accept it.

imstillthebest

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Quote from: Coroline on October 14, 2020, 10:38:45 PM

Quote from: Jaered on October 14, 2020, 11:18:20 AM

Lol. You don't expect the government to approve or legalize a currency it cannot control. Seriously? Crypto was created to evade government and institutional control, not the other way round.Many corps and vending platforms like Newegg already accept crypto. That to me is enough blessing.

We do not need to fully need approval from the government to adopt cryptocurrency as a legal currency, but at least with the existence of cryptocurrency which can be accepted in some shops or online stores, it means we can use it to make payments.
Even so, legalization from the government does not mean it is no longer important
The role of the government can accelerate growth by legalizing it, but cryptocurrency will continue to run and continue to be used even if it does not get permission from the government.

isnt it scary ? what if your government declare a btc ban and you still continue of using it on your business and one day a government official sees your shop with a btc accepted here sign . you can get in serious trouble with that , thats why there are people or country that are scared to use btc on thier own without the first move done by thier government . not only its safe and no worries to use btc once it approved by higher authorities , the adoption can also be easily achieve because no single people will have fears and doubt of using it because the announcement came from the govts themselves

The cure

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Bitcoin was created as a decentralized currency so in my opinion it does not need government approval for us to use it, Bitcoin is constantly evolving and still improving for the future. For me as long as I can use it properly and it helps the majority, there is nothing wrong if we continue to enjoy it.

Janation

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Quote from: Jaered on October 14, 2020, 11:18:20 AM

Lol. You don't expect the government to approve or legalize a currency it cannot control. Seriously? Crypto was created to evade government and institutional control, not the other way round.Many corps and vending platforms like Newegg already accept crypto. That to me is enough blessing.

Still, there are a lot of countries where Bitcoin is approved.

We can conclude that these would not be about the taxes they can't get, it is about the people in their country that are using it and trying to protect them with legalizations although I don't know how that works. As long as I can still use Bitcoin in our country, despite through an exchange, that is fine since more and more stores would accept it in the future.

LimLims

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Quote from: Mdsumon0066 on October 09, 2020, 11:00:37 AM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

It won't happen either also.
The main reason for this is that, it is a decentralised Currency, so no government can take a control of it.
But if you are thinking of if it is legal or not, then yes in many countries it is allowed to use Bitcoins, but they aren't officially accepting it.

And as far "Warren Buffet" is concerned then , no one can predict the future. So anything can happen in the near future.
So it's better to just wait and watch.

Coroline

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Quote from: Jaered on October 14, 2020, 11:18:20 AM

Lol. You don't expect the government to approve or legalize a currency it cannot control. Seriously? Crypto was created to evade government and institutional control, not the other way round.Many corps and vending platforms like Newegg already accept crypto. That to me is enough blessing.

We do not need to fully need approval from the government to adopt cryptocurrency as a legal currency, but at least with the existence of cryptocurrency which can be accepted in some shops or online stores, it means we can use it to make payments.
Even so, legalization from the government does not mean it is no longer important
The role of the government can accelerate growth by legalizing it, but cryptocurrency will continue to run and continue to be used even if it does not get permission from the government.

TimeTeller

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Quote from: FlightyPouch on October 14, 2020, 07:58:54 PM

Quote from: mezzaluna on October 13, 2020, 10:58:15 AM

Quote from: Mdsumon0066 on October 09, 2020, 11:00:37 AM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

Its not like it still needs approving or legalizing. Bitcoin is good the way it is since its already being used Internationally but it is still possible for a country to pursue the utilization of Bitcoin into further applications. All we can do is support it and watch how it will go. Keep HODLing!!

That is so true. What we can do now is just wait to what will happen in the near future. Bitcoin is being developed so that it could be used in such manners, right now the adoption is not that high the reason that people are not that familiar with it. In the near future, I think crypto currency will be one of the most popular way to trasact or pay online.

And with this pandemic, a lot of doors open for crypto business.
Many people are looking for online payments and I believe crypto payment is among them.
Even merchants who are hesitant before will look at crypto payment method seriously this time.
Volatility is always there but if you look at other alts, some of them will solve the tx fee and duration time of tx to go thru.
I believe we will be seeing a lot of merchants that will accept crypto payments. And let's hope even our local shops will follow thru.

FlightyPouch

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Quote from: mezzaluna on October 13, 2020, 10:58:15 AM

Quote from: Mdsumon0066 on October 09, 2020, 11:00:37 AM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

Its not like it still needs approving or legalizing. Bitcoin is good the way it is since its already being used Internationally but it is still possible for a country to pursue the utilization of Bitcoin into further applications. All we can do is support it and watch how it will go. Keep HODLing!!

That is so true. What we can do now is just wait to what will happen in the near future. Bitcoin is being developed so that it could be used in such manners, right now the adoption is not that high the reason that people are not that familiar with it. In the near future, I think crypto currency will be one of the most popular way to trasact or pay online.

imteaz

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I don't think Bitcoin needs any countries approval, I like the way bitcoin is, and nobody can stop it. If its regulated, then It will be boring like the stock market. So Bitcoin is right now like the wild west, that way people are enjoying the rise and down of bitcoin. But soon or later It will be regulated, and the fun will be over by then. But I believe within the next couple of years many countries will approve bitcoin as an electronic asset.

onecall123

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Quote from: Kasabus on October 12, 2020, 07:57:15 PM

Quote from: DeathAngel on October 12, 2020, 04:55:56 PM

Bitcoin doesn’t need governments to fall in love with it. National currencies are in a whole new world of trouble now with a great recession brewing, people with flock to bitcoin to preserve their wealth. Govs will have no chooce but to get bitcoin friendly or get left behind.

Bitcoin is a decentralized currency so there is no need for a government to backed it up. Although its hard for bitcoin to become a global currency, having it as a alternative currency and a very good investment is already a good achievement for bitcoin. There are already few countries who have been supporting bitcoin but not using bitcoin as their main currency, only a good alternative mode of payment.

Exactly, why Bitcoin should have backed it up by a government when it's inverse of the decentralized nature of the technology. Relatively, Bitcoin still a beginner step to become a global acceptance. But mature enough to convince us to put trust over bitcoin in this sense bitcoin is a good investment.

Alucard1

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Every country has its currency so they think that they don't need to accept more cryptocurrency and besides cryptocurrency or bitcoin is decentralized, how could a government accept it, they won't control bitcoin, no one can control bitcoins they will not accept it on their own country but there are already some countries who allowed some their netizens to have crypto transactions, such mining, trading, and investing. That is good because you can do whatever you want about cryptocurrency as long as it is good for your country.

Jaered

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Lol. You don't expect the government to approve or legalize a currency it cannot control. Seriously? Crypto was created to evade government and institutional control, not the other way round.Many corps and vending platforms like Newegg already accept crypto. That to me is enough blessing.

Leviathan.007

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Bitcoin is decentralized and no government can ever officially approve bitcoin due to the basics of it. Bitcoin is not controlled by any government or organization, so it's impossible for any country to approve it. However, many countries have allowed bitcoin trading and mining under some condition legally. But, if by "approved" you mean getting approved as a currency, It's not possible.

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