Legalization or public awareness? - page 2.

bncbnc

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Quote from: coinlawyer on November 26, 2017, 02:57:41 PM

I`m concern that the legalization of crypto will be in the future and as the whole blockchain technology will be more and more adopting in the various spheres of our life!
But it needs some time to be spend!

both are necessary and both have their own importance, legalization is importance so that people can easily use bitcoin and public awareness is also necessary as without have good awareness people may not take any interest in bitcoin or any other altcoin. so i think both have their own importance.

coinlawyer

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I`m concern that the legalization of crypto will be in the future and as the whole blockchain technology will be more and more adopting in the various spheres of our life!
But it needs some time to be spend!

QuartzMen

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Making some projects that will raise the public awareness of the public is a great help not only in the entire bitcoin management but also to the people. Because of this they can be inform the people what is the importance of bitcoin in the society.

Domenc

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Both terms pay equal importance in the coming days. Bitcoin has already created an powerful impact on users globally after the recent hike in which Bitcoin price is nearly doubled in the last couple of months. Further for public awareness, firstly Bitcoin should be legalized so that there is no fear among people about loosing their investment. Then if Bitcoin is legalized then media will pay a key role in creating mass awareness among public about Bitcoin, it could be further helped if great innovators come up and discuss the benefits of Bitcoin. But on the whole legalization is the basic need before anything else.

BrewMaster

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Quote from: zenrol28 on November 25, 2017, 07:14:25 AM

As we all know few countries are banning cryptocurrencies.

no we don't know that.
what we know is that some countries banned bitcoin in the very first years. and some have been talking about it with contradictory stances against and for bitcoin.

Quote

But are the people aware of cryptocurrencies' existence before it gets banned / legalized in their country?

the source of knowing about bitcoin is not the "ban/legalize" news. people usually find out about bitcoin when someone else tells them about it like a friend sharing a link via email or face to face. or hear about it in the news when they talk about it.

jseverson

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I have to imagine that quite a significant number is aware of them that the country in question is driven to craft regulations for it. Why bother if none of your citizens use it, or are even aware that it exists?

Either way, both scenarios increase public awareness. Legalization is better, obviously, because people can actually apply their newfound awareness, while banning can only really spur curiosity but stunt growth. This is why regulation could be good in the long run, even if the government is able to apply certain rules to it. More people are introduced, and there's no uncertainty looming over them in using it.

d0flaming0

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each countries that banned bitcoin has their own specific reasons why did they do so. once it will be banned it will be on their local news, so public will be aware by that, come to think about it. when it comes to legalization, they cannot do it easily as possible, there are tons of studies need to do before implementing the law, and it needs to be looked carefully, there are also negative feed backs they often heard about using cryptocurrency. on the other hand, maybe they are just using the news to take advantage, that's what comes into my mind.

Radientgurkin

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As I can see these are the current nations banning or in the process of banning Bitcoin. There may be others as well.

Banning Bitcoin:
Zimbabwe - https://cointelegraph.com/news/zimbabwean-central-bank-considers-bitcoin-illegal
Morocco - https://cointelegraph.com/news/morosco-outlaws-cryptocurrencies
Nigeria
Columbia
Taiwan
Vietnam
Ecuador
Bangladesh
Bolivia
Thailand
Venezuela

Pretty interesting to see that most of these coiuntries have a history of capital flight in connection with currency debasement (inflation). Officials are therefore quick to initiate legislation before mass public awareness occurs.

Quickfant

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Public awareness. Legality is actually not that bad right now there is only a few countries which have made it illegal for selfish reasons rather than practicality. Public awareness is so much better because of the price right now but that will change it if ever drops.

Shamie1002

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Legalization will be the key to people's awareness. Once that bitcoin is legal in a specific country, the the government acknowledges it and a country would not legalize such technology without a purpose of developing something in the future.
Or vise versa. When people are aware if bitcoin, may be this could be the key for the government to legalize it. If a government listens to the citizens when proving the worth of bitcoin then there is no doubt that bitcoin will be ignored.

Terry05

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Quote from: zenrol28 on November 25, 2017, 07:14:25 AM

As we all know few countries are banning cryptocurrencies. But are the people aware of cryptocurrencies' existence before it gets banned / legalized in their country?

I do believe that people are already aware of the existence of the cyrpto currency and using it before the government make a move to banned or legalized crypto currency in their country. I think the main reason of he government why they are making a move to banned or legalize crypto currency is to protect their citizen against to any possible form of crimes concerning in using crypto currencies as a medium.

MotulDiesel

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Many countries ban bitcoin and anything about it. For example, China, but China still one of the most miners in world. The answer is public awareness because it will still under control of government also make people aware it. People always curious something is banned so to let they is better than hide it.

ksgerb

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Well cryptocurrency is not consider illegal in my country so legalization is not necessary (yet) but not too many of my countrymen have cryptocurrency knowledge so I think there should be awareness program needed.

ABCbits

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We don't really need Legalization since most country don't ban bitcoin usage these days, furthermore people still use bitcoin even bitcoin is banned especially if the country in hard bitcoin.
Also, legitimization is useless if people don't know or don't want to use bitcoin anyway.

ennovy22

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Quote from: howard.ashoul on November 25, 2017, 07:22:46 AM

Who's banning crypto? All countries are implementing it and making relevant laws.

A lot of countries banned crypto and bitcoin. They are afraid that they lose the taxes that every person in that particular country should donate. Legalization and public awareness is both important. But first they should be aware what bitcoin is, how helpful bitcoin is and what are the importance of bitcoin. After that if people agreed with that public informing/awareness then the government will legalize BTC. Not all countries implementing it because the people who lives there didn't agree or maybe it's just their government doesn't want it to enter their country because it might be a cause of crimes.

bamboylee

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Quote from: zenrol28 on November 25, 2017, 07:14:25 AM

As we all know few countries are banning cryptocurrencies. But are the people aware of cryptocurrencies' existence before it gets banned / legalized in their country?

If it is getting banned, then I think there is already a considerable number of bitcoin or crypto users in that country for the government to notice it and act on it.

As for the poll, I think we should consider awareness first. We should make more people aware of bitcoin, especially the positive side of it. Most people who are not really into crypto only get negative side of bitcoin. But we should show them that there is more to bitcoin and crypto than just a currency used in underground markets and scams. This step will also have a positive effect if ever the government decides to legalize or regulate bitcoin.

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Quote from: amrulshare on November 25, 2017, 07:27:38 AM

for a digital currency that is still banned any country, I think only a few percent who know the existence of cryptocurrencies. cryptocurrency is still a lot of trouble to fix so that a country recognizes it.

Including my country, they do not understand that bitcoin is a useful technology. they are too afraid of losing taxes.
Even helping the country to reduce unemployment, I do not know it might take 4 more years The government will accept Bitcoin as a legitimate currency to trade.

meer45

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Public awareness has to come first. Increased public awareness will lead to more people investing in bitcoin, forcing governments' hand to legalize cryptocurrencies, because people will start to take their money off the grid. If people are not aware of bitcoin to the extent that they start investing in it, governments will feel no need to legalize it, since bitcoin's impact on the economy as a whole will be negligible.

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Quote from: howard.ashoul on November 25, 2017, 07:22:46 AM

Who's banning crypto? All countries are implementing it and making relevant laws.

A lot of countries are against it, although I must say most are 3rd world one stuck in the stone age.
Beside that, nobody is really "implementing" it they are just regulating bitcoin payments.

Quote from: ihsanskanzaone on November 25, 2017, 09:10:01 AM

Bitcoin also does not require the government to regulate bitcoin because of the identity or characteristics of bitcoin that keeps its users secret, freedom of transactions and freedom in managing the economy freely without government intervention.

Bitcoin needs the government not to act against it.
Nobody gives a damn if Morocco bans bitcoin payments but can you think what would happen if the guys in the US would wake up same day and decide the same?

Quote from: crzy on November 25, 2017, 09:03:09 AM

I think banning bitcoin will have a negative impact on a specific country simply because I believe that bitcoin is our future.

If that country is US, Germany or UK it will hurt far more BTC than that country economically.

ihsanskanzaone

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legalization or public awareness, I chose community awareness because bitcoin growth is so fast without government help that bitcoin does not require legalization to flourish but it is with this community consciousness that has made bitcoin development to this day. Bitcoin also does not require the government to regulate bitcoin because of the identity or characteristics of bitcoin that keeps its users secret, freedom of transactions and freedom in managing the economy freely without government intervention.

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