12 years and no country has approved Bitcoin ?? - page 9.

pragna

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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"

I think there are lack of information in your comments as many government body and big banks like Swiss, US central bank accepting BTC as custody. Even many tourist zones, Hotels now accepting BTC, ETH. As it new to economy and decentralized program governments needs more time to realize its function and hope it will explore more and more within short time.

thanks.

pawanjain

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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"

Buddy, you seem to have a wrong perception about bitcoin. Bitcoin was created so that the Governments and Banks cannot control our money.
It should be us to control our money. Bitcoin is serving it's purpose very well and it does not need any approval from any country.
There are people who accept bitcoin and provide their services and there are merchants who accept bitcoin.

Also, I would recommend you to read the bitcoin whitepaper as you will get more insights and a better understanding about bitcoin.

Bitcoin Whitepaper

shoreno

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2007 realy huh ? so what i read on the past was wrong because they state that btc was launch at around 2009-2k10 and so many users that said that btc was only 10yrs old but was that an important issue to debate with? no matter what year , what important is that btc still done a great job of encouraging people to go cashless and go venture the world of decentralization . 10 or 12 yrs, thats long enough if no single countries accept btc but you think the price will shoot up if no one accepted btc ? forget about warren he is just one of many insecure personalities in this scene .

Maslate

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Quote from: acdc on October 10, 2020, 09:35:33 AM

I think bitcoin is very difficult to be accepted by governments as a currency. Bitcoin is decentralized and nobody can govern it, governments don't like it.
Perhaps in the future bitcoin will continue to act as an asset rather than a currency.

It can't be officially announced or accepted as a currency but allowing their people to use this is good enough to say that we are even closer to their approval. It was not a hard push for everyone to consider Bitcoin as a legal currency that we can buy stuff either online or offline. No, it is not, Bitcoin is intended only for the online platform and so country leaders would hardly to decide and accept it.

Look at OP, Warren Buffet have to sense at all. he is now living on his unreliable statement that no one will able to trust him and believe what he says. So better to unfollow him, it is not helping you to understand crypto.

acdc

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I think bitcoin is very difficult to be accepted by governments as a currency. Bitcoin is decentralized and nobody can govern it, governments don't like it.
Perhaps in the future bitcoin will continue to act as an asset rather than a currency.

ice098

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Quote from: witcher_sense on October 10, 2020, 04:20:11 AM

Generally, many countries refuse to approve bitcoin as a currency due to the fact they cannot control it. The system where bitcoin is used as key currency will be similar to that we had before gold standard was abolished. But this time, things may get worse. Bitcoin is intangible, it is hard to confiscate, it is almost impossible to centralize in banks' vaults.

More importantly, its total supply is predetermined, you cannot print more at will to finance war crimes. Bitcoin is a currency for peace, not for wars.

Yes bitcoin was not controlled by any countries around the world, this means that this is decentralised and volatile. Maybe one of the reason why no country has approved bitcoin because maybe they think taht BTC may become a threatened to their economy. And i didn't know also why some announced that bitcoin was a scam well perhaps this is just an alibi of the government or maybe they are just studying and having a resaerach about bitcoin.

MCobian

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We must be patient so that Bitcoin can be accepted in all countries of the world, now many countries have started accepting Bitcoin as
digital assets. Meanwhile, the number of countries that accept Bitcoin as a means of payment is still very few. But if you look at Bitcoin
which is only 12 years old, development is now including fast. Because the 12 year for currency is still relatively short, for fiat alone it
took thousands of years to be accepted worldwide.

witcher_sense

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Generally, many countries refuse to approve bitcoin as a currency due to the fact they cannot control it. The system where bitcoin is used as key currency will be similar to that we had before gold standard was abolished. But this time, things may get worse. Bitcoin is intangible, it is hard to confiscate, it is almost impossible to centralize in banks' vaults.

More importantly, its total supply is predetermined, you cannot print more at will to finance war crimes. Bitcoin is a currency for peace, not for wars.

buwaytress

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Quote from: abhiseshakana on October 09, 2020, 10:19:10 PM

Bitcoin penetration in Japan is very good. As we know that Japan has been trapped in a downward spiral of deflation for decades, this has made the economy in Japan less excited. Japan decided to adopt bitcoin as an alternative to facing Japan's economic problems, because of the benefits it received from bitcoin trading, spurring people's income and in the end, it could strengthen the desire for consumption which would boost Japan's GDP.

In addition, Japan took the momentum when major countries in Asia rejected bitcoin, so that many bitcoin investments entered Japan, as evidenced by bitcoin trading with Yen, the second largest in the world. The main target for the adoption of bitcoin in Japan as a legal tender is to change the consumption pattern of the people from like to save to like to invest and spend, which in the end could be a solution for deflation in Japan.

As much as I like this narrative personally, I don't think it was as nice a story as that. MtGox happened in Japan (biggest exchange scandal ever) and I recall a lot of inward grief from the Japanese authorities who felt that they could have and should have done something to prevent this.

The govermnet mobilised really quick to handle the case, and the laws and recognition of Bitcoin coming soon after were almost a direct result of that stain on their record, so to speak.

verita1

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I agree that is what will happen. Countries will be adopting Bitcoin because people will be creating demand and governments will have to seize the moment and the benefits of introducing it into their economies.
I think there is no country that Bitcoin is not known for, what we need is for more people to know about bitcoin and how they can introduce it into their daily lives.

gabbie2010

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The use and adoption of Bitcoin does not necessary need the approval of any government because of its decentralized feature, government can only regulate it, any individual, organization, company or store might adopt the use of Bitcoin as an option of payment without government interference, in the nearest future many countries will the see the benefit of adopting bitcoin due to its transparency usefulness of its blockchain technology in solving many problems.

culuuton

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They disapprove but they also don't strictly ban it, so things are going well. Some experts including Warren Buffet, they also emotionally predictable, no one can know the specific and exact future development of bitcoin.

maxig.boroday

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Ofcourse they wont approved a decentralized coins where they have no control at all

Lorence.xD

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Quote from: ?? on ??

Some countries have already permitted bitcoin and many countries are thinking to permit it. The most successful matter of Bitcoin is that it has become a matter of thinking for all over the world; some are thinking positively and some, thinking negatively and some are neutral. You see that what was the position of bitcoin at the time of starting, five years ago and now. Surely it has tremendously progressed. Its users, traders and investors have greatly increased. So, I think, there has less possibility of ending Bitcoin.

They did accepted it but I think a stink eye is still lingering in regards to bitcoin permission to be used in their country. If my financial institution is threatened by something that liberates the masses from crippling debt and I know for a fact that they are still not planting deep roots in the nation's financial institution. The most rational thing that I will do is try to influence people in power to make strangling regulations that could make the competition disappear behind the curtain or worse make the people that they are helping turn their back against them.

taufik0911

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Quote from: seoincorporation on October 09, 2020, 02:03:02 PM

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

A lot of countries approved it, but isn't considered money. But in countries like Mexico you can legally buy them and sell them and only pay tax over the profit.

I don't think countries will see bitcoin as money. That could bring enormous problems to the economy, that's why it's legal as an inversions instrument.

almost many countries legalize bitcoin as an asset instrument but there is a ban on using bitcoin as a means of payment because it will be very detrimental to the state in the circulation of a country's money which can make a country into inflation or deflation

Francis Freeman

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Quote from: Coroline on October 09, 2020, 10:57:19 PM

Quote from: Ridwan Fauzi on October 09, 2020, 07:11:11 PM

Approved by what?

Maybe the OP meant legalized. Because we know, that not all countries legalize the existence of Bitcoin, even though some do. So when a country accepts Bitcoin as an alternative means of payment, everyone in that country will be curious about Bitcoin and start trying to use it, so the volume of Bitcoin transactions will increase as a whole.

Yeah I think the OP means the government officially recognising Bitcoin as a method of payment . If that happens it would create huge awareness for the people about crypto currency.

But the government are hesitant to do so as it will undermine the financial ecosystem which they are controlling right now.

Coroline

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Quote from: Ridwan Fauzi on October 09, 2020, 07:11:11 PM

Approved by what?

Maybe the OP meant legalized. Because we know, that not all countries legalize the existence of Bitcoin, even though some do. So when a country accepts Bitcoin as an alternative means of payment, everyone in that country will be curious about Bitcoin and start trying to use it, so the volume of Bitcoin transactions will increase as a whole.

affandi

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looks like you're frustrated ...? It is not easy for the government to accept the existence of bitcoin and the reason is quite clear, "the government cannot control bitcoin".
the figure of a warren buffet is indeed very famous in the world, but would you just believe it with all the predictions?
come on guys, bitcoin is under development, everything needs a process. at least now we can use bitcoin for short and long term investment and also for trading, don't waste all of this.

rodskee

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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

it's 11 years to be precise mate,and expect the unexpected because government won't earn from decentralized market and Bitcoin is certainly one of those so approving will take time to be implementing.

Quote

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

Do you believe in Warren Buffet?then if you does better leave this forum now because you are not contributing here instead creating FUD.

seems like you are not into this forum and so as the forum for you.

abhiseshakana

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Quote from: buwaytress on October 09, 2020, 12:24:43 PM

Oh no, Japan law recognising Bitcoin as legal tender, Swiss public transport and municipal tax payable in Bitcoin, universities accepting Bitcoin as fee payments, hell, regulated and licenced merchants accepting all my bitcoin all these years... Fake news? Where have you been OP?

Bitcoin penetration in Japan is very good. As we know that Japan has been trapped in a downward spiral of deflation for decades, this has made the economy in Japan less excited. Japan decided to adopt bitcoin as an alternative to facing Japan's economic problems, because of the benefits it received from bitcoin trading, spurring people's income and in the end, it could strengthen the desire for consumption which would boost Japan's GDP.

In addition, Japan took the momentum when major countries in Asia rejected bitcoin, so that many bitcoin investments entered Japan, as evidenced by bitcoin trading with Yen, the second largest in the world. The main target for the adoption of bitcoin in Japan as a legal tender is to change the consumption pattern of the people from like to save to like to invest and spend, which in the end could be a solution for deflation in Japan.

https://www.coinhills.com/market/currency/

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