How far bitcoin can progress in the financial world without legal acceptance - page 2.

bangkecol

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Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

It is true that bitcoin was not received at the ETF yesterday, but during the session at the SEC, the SEC provided a countdown in 2019 where the progress was before the SEC.

It provides an open opportunity for audiences to comment on bitcoin. In the commentary session, many audiences gave positive responses about bitcoin, this is one of the capital in opening the opportunity for bitcoin to be accepted by the SEC next year.

ranman09

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Bitcoin lived through years without legal acceptance it's only now that it is mainstream that it needs legalities. I think bitcoin will still continue and it will be used again underground.

Wittycoin

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As of now, bitcoin`s progress is still great because of it`s achievements. But as long as it is not yet legal, people would still doubt about bitcoin and think it is a scam. It would be a better progress if bitcoin will become legal already.

1NV3ST0NM3

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Legalization is an important issue these days. Legalization of the crypto currency market is very essential because then only it will be able to be accepted globally. Universal acceptance of this digital market will enable the investors worldwide to make more out of it. Right now there are many countries where there are controversies ongoing relating to bitcoin, that is in turn effecting the prices of the crypto coins. In India, as we know lately Zebpay the premier crypto exchange has shut down and this is the result of deliberations by RBI stating banning of crypto related transactions. So in such kind of environment how can one expect digital economy to flourish?!?

Jateng

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Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

We can't really say how long it will takes. Some government is seeing this as a threat but some does not. Yes bitcoin is far from what it is 9 years ago. It is a good to think that it reached that far even though some are trying to stop it. I think bitcoin will continue to grow and be already accepted by a much more country in future. Maybe one of the reason bitcoin did not disappear is because everyday, people aaccepting bitcoin is growing.

bitterdog

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Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

i think bitcoin will be able to go on although without legal acceptance because like we all already know the users of bitcoin is increasing time by time and im sure it will be increasing in the future.

Choyor

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When the government does not recognize the existence of Bitcoin as a whole it is likely that there will be little problems regarding the use of Bitcoin in the country, so it can be ascertained that the development of Bitcoin will be hampered.

yurekaa

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In my opinion. bitcoin will continue to grow even though there is no clear legal legality in all countries. for example, when bitcoin was present in the world in 2009 until now, no country has declared if bitcoin has been legally legal to date. but bitcoin continues to grow and grow and is able to attract Inevstor to have it. and bitcoin is able to become the first digital currency that can last more than 9 years.

coinhunt

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I think that it can progress far enough. We can see tht now bitcoin make a good job and it’s capable to maintain its development without being legal all over the world. Bitcoin can keep on progressing in the financial system. I think the most important thing that a decentralized system supported by a big community worldwide has proved its efficiency. This fact cannot but frighten governments a lot. But sooner or later countries will decide on bitcoin status. It involves both advantages and disadvantages for the crypto world.

Kakmakr

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Bitcoin is not waiting for some government bureaucrat to determine it's future. They have a choice, accept it or we go underground with it. This has happened many times before with things like liquor and tobacco and look at where those industries are today. Bitcoin anonymity just make it easier to take this technology to the Black markets. Wink

So, they accept it and they get the tax benefits or they deny it and turn it into a tax avoidance technology. Tongue

metalglowd

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Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

I think bitcoin is still really able to go further even if without legal approval, the proof?
since the birth of cryptocurrency until a few months ago before there was a SEC issue and bitcoin ETFs, it still works well right?

emberbekas

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It would be hard for bitcoin to go any further if there is no legal acceptance worldwide. But fortunately, there are some countries that already marked it as legal currency which is good for the future of bitcoin. We just need to wait for more countries to start to accept bitcoin and then the party will be begin.

Jason Camara

newbie

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In some countries, Bitcoin is accepted as legal currency, so people can pay something by BItcoin. Then, investors will try to earn more Bitcoin because they know Bitcoin can develop more . But now some countries ban Bitcoin, of course; people there don't want to trade Bitcoin. Thus, it is difficult for Bitcoin to trade without legal acceptance.

Laura Evans

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One hand, Bitcoin can progress without legal acceptance but it can not develop as much as bank note. I mean governments must guarantee for their residents by controlling the global currency. Moreover, Bitcoin is needed to take taxes in order to contribute for the budge of the nation. In an other hand, once BItcoin has legal acceptance, it will develop in more and more countries. Anyway, Bitcoin should still be needed legal acceptance.

AAKODI

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Quote from: vit05 on September 24, 2018, 06:27:55 PM

Quote from: magneto on September 21, 2018, 06:48:14 PM

Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

Bitcoin is a legal currency in the majority of the countries around the world.

I think what you mean by your post is really that bitcoin is not the recognised legal tender currency per se of any country worldwide, nor is it officially endorsed in the overwhelming majority of countries. But still, most governments at the moment take a neutral stance of bitcoin and regulate some businesses, without directly restricting the access of it.

I'd say that there is no problem with bitcoin not being legal tender in the long run because it's independent from fiat in the first place, that's what it's designed for. I honestly don't think it'll affect adoption whatsoever. The only concern would be if governments outright ban bitcoin use in their jurisdiction, but even then, these restrictions are hard to uphold because bitcoin itself is decentralised.

This is the great difficulties that many have about Bitcoin. Nowhere in the world is it totally forbidden, meaning no one will ever be arrested for buying or selling Bitcoin today.

What Bitcoin is lacking in many countries is regulation and understanding of what it is before regulatory organizations. This hampers the entire ecosystem related to Cryptocurrencies since many companies and exchanges often have no license to operate.

Still many governments haven't taken a significant action regarding bitcoin because some are bit uncertain whether this is an opportunity or a disaster for there economical system and some doesn't get the bigger picture about bitcoin and that is mainly because still it haven't made a huge impact in the business world that is powerful enough to make change for better so I think it might take more time for us to see a different

sambel90129

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Quote from: AAKODI on September 17, 2018, 09:49:07 PM

We all know at the moment bitcoin is not a legal currency in the world and it has many political barriers but still it continues to grow for years among general public and the business world so my concern is how far it can go or how far governments and other significant organizations will allow bitcoin to continue its journey without being accepted as a legit currency?

You can State what do you think because your bitcoin investment depends on that

the rate of bitcoin cannot be stopped because bitcoin stands alone is not dependent on any country, almost all countries that do not support bitcoin say bitcoin is only an asset or a commodity no one country rejects totally but they reject the use of bitcoin to be a direct payment tool. So the rate of bitcoin has almost no obstacle to progress.

darkangel020716

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Not all countries got bitcoin illegal, because as crypto currency itself, more country in asia are legally accepted this bitcoin to be use, and with some reasons, bitcoin rapidly grown in the place ive mentioned, i am in one of country in asia who witness the growth and acceptance of bitcoin here. And in my own opinion it would last more longer as we expect.

CoinsGazer

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On the operational level alone, there is currently no country in the world that can restrict the right of a citizen to remember two strings of passwords (public and private) through law. Moreover, from the perspective of IT technology, shutting down a P2P network is not something that humans can accomplish. The nature of P2P itself determines that once a project is launched, it cannot be closed.
It is conceivable that in this case, the difficulties faced by any government in any country to abolish Bitcoin are enormous. To take a step back, even if all countries have eliminated the current version of the Bitcoin network in their home country through various means, Bitcoin will not be lost as long as the user's Bitcoin wallet is still there.
Therefore, the key to the existence of Bitcoin is not whether the government blocks it, but whether the fans can always maintain trust in it. As long as the trust exists, Bitcoin will still show value and still cannot prevent people from using it to redeem. Legal currency or exchange of goods.

EdenHazard

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The governments in this world will ban bitcoin if it really will make effect their economic disturbed, that is one factor must be memorized. Most countries who ban the using of bitcoin/cryptocurrency is developing country who have lack knowladge against technology.

I just wondering for those people who live in the countries that accept bitcoin/cryptocurrency well, was bitcoin disturbed the country's economic stability? Were each person change over to using bitcoin and leave money fiat? I hope this question will be answered by someone to be a reinforcement that bitcoin/cryptocurrency doesn't have a major negative impact on a country's economic stability.

aray80

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Yes, I believe that bitcoin can benefit investors' finances and countries that support and do not support, without or recognized by law

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