Topic: How can bitcoin be legalize ? (Read 3290 times)

Actually even bitcoins are illegal or restricted in your country there is no law that using bitcoins will result for you to be arrested. In our country even if it's not legalize right now there are some local stores accepting bitcoins as a payment

Government can just be taxing through some merchants which dealing or accepting bitcoin as one of their payment methods because taxing things which are decentralised directly is just impossible just like bitcoin
And about the wallet address, it's right that the owner may unrecognised but once government take an action and can recognise who's the actual owner, all of the owner's history of transaction may be revealed

Ya it is true that if the government legalize bitcoin then lot of unwanted transaction can be stopped but same question will start of bitcoin as decentralized technology and the transaction are unrecognized the owner of it only the wallet address can be found. So how the government will tax the bitcoin and in which category will they put the bitcoin revenue for tax

It is subject to Government policy, If the Government legalize bitcoin certainly many benefits to be gained, one thing that is important is the issue of taxes. With the Government's policy then the Government can use the bitcoin to prevent money laundering and to collect taxes.

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. 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. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.

I would say since people are not arrested for using Bitcoin in your country then its not illegal but the issue of operating a store is something of concern because no one is ready to bell the cat just yet with time someone will take the bold step and others will start falling in line. On the part of developing Bitcoin permit me to say its not in your power to make that happen as people will blend with time, just let them blend at their own pace but that doesnt mean you should not do the little awareness your power can carry...

all can be carried out easily, with little logical thinking, maybe you can buy via paypal, or you can buy through netteler, government policies are not always able to resist the flow to trade or seek to profit in bitcoin

Maybe some people are afraid if they open any bitcoin related business because they might be chase by the government. Thats why only few business are into bitcoin related business. If you want to open a bitcoin related business, make sure you study the laws about using it. Some countries needed a license in able to operate this kind of business. Here in my country, there are some establishment are accepting and buying bitcoin. They are free to do that because there are no laws pertaining to bitcoin that prohibiting people to use bitcoin for any business.

Well you can't do anything about it or their is a suggestion in your country i think their is in any country the suggestion box but i a sure you that your country doesn't trust bitcoin at all but instead bitcoin is just like fake to them same as my country they don't really accept bitcoin because of the online gambling but still they don't really think that bitcoin is one of the main reason that the other countries that accept bitcoin made their life easier and much full of enjoyable life bitcoin made countries ease up their stress paying bills online its really amazing but if you have a friend that works on the government tell him about the bitcoin thing or suggestion on the government to open up stores for bitcoin or gather up some people and protest on bitcoin so that bitcoin will be accepted to your country thats my suggestion i hope you agreed to it have a nice daY

very simple:
step 1-make sure that bitcoins is illegal in your country and it is proven by state issued laws,not according to some article or forum speculation
take time to research yourself,then gather all the corresponding documents and consult a lawyer
step 2 if there are loopholes that could be taken advantage of,use them
if you are the only player at the cryptocurrency market in your country you are practically a monopolist
the money is there,take them
if bitcoin is illegal and there are no ways to circumvent the laws,well sucks to be you then
immigrate or try a different business model

One of the most important things why bitcoin is banned in many countries because the government can not do full control with bitcoin. It is a good idea, we can't imagine if there is use of the bitcoin then prices too quickly changed. In my country, bitcoin already decided as a commodity, so it can be used but not legal currency.

You can legalize bitcoin from each country through the central bank but it seems central bank would not agree with that because bitcoin surely affect the fiat currency.

It is natural that people do not want to open a shop with bitcoin payments, because of government restrictions bitcoin so few people are using. It would make little people using bitcoin, so very few transactions with bitcoin. Bitcoin can only be legalized with the help of the government, because the government makes the rules. It was the same as in my country that the government limits the bitcoin, so users bitcoin in my country a little. Perhaps the government could legalize bitcoin just my opinion.

Yes that is not such a big problem for the state, if they want to legalize bitcoin they can do it very simply according to their rules and regulation, I think most of the countries are still thinking about how to regulate bitcoin they may be studying every aspect of bitcoin and after that they will take a decision.

Bitcoin can be legalize from government through the central bank. But this seems is difficult, because will give affect the official currency. May gradually and good socialization to public to receive bitcoin is one step to ask our government for receive bitcoin.

Its very simple I guess it will go through the normal process of every country law making steps but for that to be triggered, quite a number of people to make that push must already be involved and at the same time, events should be happening that will also signal for actions to be taken by the government then after that a bill is forwarded to the legislative arm of government then they do their thing and then they forward it to the President to sign and it becomes law.

 

As others have noted, questions about legality of bitcoin are mostly useless if you don't state what country you're living in.
What I'm writing here only applies if you intend not to break the law. If you don't care about the law anyway, why ask? 

If there is explicit law about bitcoin, you should look at that law, of course.
If there is no explicit ruling about bitcoin in your country, you should first consider the general attitude towards "unspecified" behavior:

• In more liberal countries, one can assume that if something is not explicitly forbidden then it is allowed.
• In restrictive/totalitarian countries, you should assume that if something is not explicitly allowed you could get into trouble when you do it (especially when officials want to get you into trouble).
  

Then it might be helpful to look at how foreign currencies would be handled. For example, if there are rules restricting how much value in foreign currencies you can legally hold, you can safely assume that holding more value in bitcoin would not be allowed. In addition, if businesses need a special license if they want to receive and spend foreign currencies, you probably need such a license as well. Note that even if you are allowed to use bitcoin for payments, this probably does not mean that you may operate a money exchange - for that you most likely need a specific license.

There are various reasons why such laws exist. Most often the argument revolves around money laundering prevention. This argument has quite some merit, since tracking down organized crime often amounts to "follow the money", and money laundering makes that difficult or impossible. The anarchist or conspiracy theorist would probably argue that the evil government likes to watch and control its subjects closely.
As a somewhat critical citizen I see some truth in both arguments. Organized crime and corruption are parasites and negatively affect a society's well-being, both in terms of simple economic health as well as regarding personal safety. However, political and economic power almost always tends to stabilize itself and take steps to impede necessary change, which can lead to a different kind of corruption and parasitic accumulation of wealth.

Onkel Paul

And you call it an example of good regulation? Seriously limiting usage of bitcoin and imposing hard limit on how many BTC you can buy/sell is the worst idea of 'legalization'.
Bitcoin was created to provide monetary freedom, not to be another tool for oppression and limits. We should never have anything like that.

Legalisation of bitcoin is not a tough work but not a very simple .
i think some rules should be made by the bitcoin center .
 people should use Bitcoin in limited amount per week and every user should use only part no. if btc adresses .