Topic: General use of bitcoin as a legal currency - page 6. (Read 16840 times)
Your friends are right, bitcoin is definitely the best investment of the decade. The government still didn't accept bitcoin cause of it is decentralized currency and the main currency on the territory of each country should be national fiat to support the economy. There are countries which forbid crypto currencies and there are loyal countries, everything depends from politic that each country sets.
I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?
I like the way bitcoin stay at the top in terms of marketcap and its value but most of the bitcoin holders are hoarding it for market manipulations like whales(or people who have may btc/rich businessmen). I still see it as a currency but some people see it as a speculative investment.
Poccийcкaя влacть cчитaeт, чтo кpиптoвaлютa пpeкpacнo пoдxoдит для oтмывaния дeнeг, финaнcиpoвaниe тeppopиcтичecкиx opгaнизaций. Кoнтpoль зa pacпpocтpaнeниeм кpиптoвaлюты пpoиcxoдит c нeкoтopыми тpyднocтями, пoэтoмy тaкaя вaлютa cчитaeтcя yгpoзoй. Гeнepaльнaя пpoкypaтypa вынecлa зaкoн, кoтopый твepдит, чтo биткoин oбъявлeн внe зaкoнa.
Pyбль этo eдинcтвeннaя oфициaльнaя вaлютa Poccии, a биткoин cчитaeтcя кaк зaмeнитeль нacтoящиx дeнeг. Пoэтoмy кpиптoвaлютa нe мoжeт иcпoльзoвaтьcя oфициaльнo кaк фиpмaми, тaк и чacтными лицaми.
Pyбль этo eдинcтвeннaя oфициaльнaя вaлютa Poccии, a биткoин cчитaeтcя кaк зaмeнитeль нacтoящиx дeнeг. Пoэтoмy кpиптoвaлютa нe мoжeт иcпoльзoвaтьcя oфициaльнo кaк фиpмaми, тaк и чacтными лицaми.
I think it is because of the threat that poses it on the bank but Japan is looking on the positive side instead despite of the negative comments of the other countries and their competitor. I think it's time for the other countries to accept the legality of crypto currency in a different way if they had a problem with it, they should follow what Japan's been doing.
Japan has made its regulatory framework operate in such a way, that it is heavily focused on squeezing every penny out of people's pockets with their taxation laws. On top of that, the somewhat initial friendly crypro regulations of Japan are becoming more closed with every month that goes by. Other countries will definitely follow, but you have to understand that where Asian countries have Japan as main example, European or North American countries don't have that. I am quite sure that they are waiting for one country in their continent to set the first step, where after that the rest will follow. It will take time but eventually it will happen.
They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.
when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.But I don't think that the fate of fiat money can be jeopardize in any way because a country chooses to make bitcoin and crypto legal. We have to look at how Japan is managing it. I haven't seen the negative effects that countries and central banks are saying that will negatively effect a nation. They argued that its a disruptive technology, but Japan was able to go for more than a year now since accepting bitcoin and nothing has change. So its not yet proven that the financial systems or even their economy will be affected in a bad way. So I don't really understand why countries have demonstrated negative attitude towards cryptocurrencies.
They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.
when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.But I don't think that the fate of fiat money can be jeopardize in any way because a country chooses to make bitcoin and crypto legal. We have to look at how Japan is managing it. I haven't seen the negative effects that countries and central banks are saying that will negatively effect a nation. They argued that its a disruptive technology, but Japan was able to go for more than a year now since accepting bitcoin and nothing has change. So its not yet proven that the financial systems or even their economy will be affected in a bad way. So I don't really understand why countries have demonstrated negative attitude towards cryptocurrencies.
They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.
when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.
As far as I know no country has recognized Bitcoin as a currency which is second to their own. But for the countries who accept Bitcoin they recognized it as a allowable mode of payment in their country. Majority of the counteies are not recognizing Bitcoin or any other cryptocurrency as a legal cyrrency because their own fiat currency is protected by their constitution. Which means recognizing other currency outside of their own is unconstitutional.
The average is caused by certain considerations related to the financial system of government that's still worried about the risk that can be received by the country. Well but it's possible later that it will be further deepened to be able to support it because anyhow this is a discovery that's already more visible useful and can be used as a living complement in terms of financial or financial problems among many people which can generate profits and various other benefits that can be useful for daily needs also the progress of the country.
The exchange rate of bitcoin can rise from 23 million to 184 million in one hour only and of course also can fall back also within one hour. This phenomenon can certainly make a person become rich and poor only in a very short time. Instability of bitcoin exchange rate is what makes some countries forbid the use of bitcoin as a digital currency in transactions in those countries.
The price of bitcoin and other crypto currency will change from one exchange to another based on its demand and supply volume and the price swings maybe extreme sometimes,it can reach upto 10% in a day or even more but it is not a normal scenario,which is about 5% or less is normal price swing rate.But the country forbids the crypto currency because of they afraid that it can be used for illegal activities in their country and some think that it is a ponzi.
We cannot blame other countries for not legalizing bitcoin because they have these reasons applicable to their own. I believe government are just protecting its people toghether with its country. But in what ive seen now, its possible that those crypto-banning countries will open themselves soon. A lot of countries started to recognize crypto and its the start.
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently.
I totally agree that it is one of the greatest inventions seen lately. And probably one of the main reasons why countries refuse recognizing and using BTC is the fact it is capable to promote decentralization.
This is new innovation of decade. It will be accepting all countries in the world with proper rules and regulation.
Just a fear of value loss to their fiats if crypto gains more values in the currency market. All is about a business between fiat's and crypto currencies. Bisiness plays a main role here. A country's economy growth depends on its local currency's value. So the fear stops the government to adapt bitcoin
it does not matter if the fiat really will disappear for the next few years because it's fiat now is not too influential on our economy including the price of crypto. I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?
It will take some time as it is the start of this coin and they will need to do many changes in their economy sector and in their accounting section and their documents for doing that.Just a fear of value loss to their fiats if crypto gains more values in the currency market. All is about a business between fiat's and crypto currencies. Bisiness plays a main role here. A country's economy growth depends on its local currency's value. So the fear stops the government to adapt bitcoin
It the reason is not the fear of value lose but the reason is the way they will need to adopt and the trained personalities will be needed for that while in many countries even their rules do not know that how to manage bitcoin for their state. It will need a more educated leadership for the state. 
Just a fear of value loss to their fiats if crypto gains more values in the currency market. All is about a business between fiat's and crypto currencies. Bisiness plays a main role here. A country's economy growth depends on its local currency's value. So the fear stops the government to adapt bitcoin
it is true the use of bitcoin depends on the legality of each country when it is really legal there is a set and there is a liberating like UEA that legalize the use of bitcoin as a means of transaction.
I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?
I think there are various factors that make the government not accept bitcoin as a legal currency especially bitcoin Decentralization system, because this system can't be controlled by the government so that this allows criminal acts by its users.
The exchange rate of bitcoin can rise from 23 million to 184 million in one hour only and of course also can fall back also within one hour. This phenomenon can certainly make a person become rich and poor only in a very short time. Instability of bitcoin exchange rate is what makes some countries forbid the use of bitcoin as a digital currency in transactions in those countries.
What are you talking about? What is this exchange rate that you're talking about? Do you mean the volume? because you aren't speaking about the price nor the market cap. You can't become poor with BTC in the matter of hours, where did you get this from? The most extreme crashes can cost you maybe 5% per hour, but that's still extremely rare.
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