Legalizing Bitcoin - page 10. | Bitcointalksearch.org

best ever

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

To legalize it, governments should take a law about it, and who will do it? It seems to me it will be more easy to them to declare BTC something illegal and even ban it. Just thoughts.

micovcin

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

If the goverment accepted Bitcoin and turn it into the legal method payment so i think companies will have more sources of customer so it could help the economics in that way.

shark69

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to legalize bitcoin I think is very difficult. because bitcoin is a crypto currency, while the legal one is fiat currency. especially with countries that disagree with bitcoin.

grifter1870

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im still hoping for my country that they will legalized bitcoins, since bitcoin now is very popular when it comes to crypto world....

Sled

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Quote from: stevano on December 11, 2017, 01:50:48 AM

Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

to be profitable then the country should make its own coin which is used to transact daily in the country, if so I am sure the country will also get the benefits

The governments are not required to make their own coin because they can just study the existing cryptocurrencies in the internet and accept it and make it as a fully legalize cryptocurrency or another form of money. It will be easier for them since they are already existing and they have a lot of different projects that the government can get benefits.

chimcoin

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Firstly,i have not hard where Bitcoin has been declared illegal,not yet in my country or any other countries at least for now. Moreover,the news out of China about Bitcoin and other cryptocurrencies is going from bad to worse. After banning Initial Coin Offerings (ICOs) some weeks ego, Beijing is now considering shutting off cryptocurrency exchanges, sending the major players into another tailspin. Legalizing Bitcoin is like regulating the cryptocurrency by governments and bringing it to control as against it decentralized formations

stevano

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

to be profitable then the country should make its own coin which is used to transact daily in the country, if so I am sure the country will also get the benefits

expert4knowledge

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To make it legal removes all the purpose of the bitcoin, make it legal means it'll be controlled by the system ( banks), exactly what we don't want with cryptos

d1ceplayer

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Quote from: Kiweikoo on December 08, 2017, 09:16:28 AM

Quote from: Ajinomoto40 on December 07, 2017, 08:50:44 AM

Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

There are some few countries that has banned bitcoin. Having this fact makes it more difficult to have all the countries in the world to legalize bitcoin. Also, bitcoin is being used for some illegal transactions which convinces some countries not to legalize bitcoin knowing that it might just harm their nation. Amidst all of these reasons, I still believe that as innovations keep on going, the benefits all bitcoin would be enough to convince the world to legalize it.

The countries who have banned the bitcoin will suffer with the economic crisis in the future because bitcoin will be accepted by the every nation except them and this thing will distort their image as well and the countries who have legalized bitcoin in their region will enjoy the good economic health as well as their region will be more progressive and developed and any region which will deny the bitcoin will regret in future.

This thing is sure that including china who else want to impose ban on bitcoin will suffer a lot because in future this coin will be declared s the unique currency all over the world and all the import export payments will be made via bitcoin and then they will lag behind in the development as well so it is not late yet false countries may have to apology the bitcoin community and request for the join again to survive easily.

Sexie

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

. There is no problem in legalising bitcoin if it is for the betterment of the country and to the people. It is a one way of paying services and even goods through internet It is considered as source of income when it is converted into flat currencies. So in every outcome of it, bitcoin gives benefits to the people and increase the economy of the country by reducing unemployment. As far as I know, bitcoin is free to everyone who knows how to use it and It’s benefits.

Triffin

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Quote from: Tegin92 on December 09, 2017, 06:31:23 AM

some countries are beginning to view Bitcoin and digital currencies with different perspectives, and try to enforce the rules of the digital currency. Regularly its regulation is not the cause that is supported by all parties. But in the case of Bitcoin, regulation is a gift. Bitcoin regulation is something that is supported by the Bitcoin community around the world.

I don’t know why governments are running after the regulation of bitcoin. They are simply interested in controlling it, they are not doing this for the betterment of public, rather simply want to snatch a good part of public earning in the name of taxes. When they are unable to do so because of high level technology of bitcoin and its decentralized nature, they simply start banning it in their countries by saying that it is something harmful.

YTBitcoin

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Quote from: Beparanf on December 08, 2017, 08:34:44 AM

Quote from: snedyolo on December 08, 2017, 08:12:05 AM

Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

It would be really nice if bitcoin was to be legalized because it would be really popular, and it will also give the people a sense of security that bitcoin is not really illegal and good source of income. The fact that other people usually don't trust bitcoin that much because it's not legal will change.

Legalizing it means Government will have a control over it, which is quite impossible since bitcoin is decentralized and anonymous, maybe just an awareness that btc exist will be fine but putting taxes is a no no.

I think it is not the same which you are saying as you can see that Japan has legalized bitcoin and they do not have took control on bitcoin. Bitcoin is still decentralized in their country and all over the world. By legalizing it will mean that people will be able to use bitcoin in the state affairs. Like in the documents of the state people will be able to deal in bitcoin.

Triffin

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Quote from: dhrazzen on December 10, 2017, 12:43:32 AM

Bitcoin gives us lots of opportunities to improve our way of living. Legalizing bitcoin is a great news to anybody. It may help to solve the main problem in the society which is poverty. Aside from that it also lessen the unemployed people. But, we should also know its negative side, transactions of drugs, illegal products, scam and abuse will takes place. So, goverment must put an action unto this.

Bitcoin has a lot of other opportunities as well expect resolving the problem of poverty because bitcoin has provided jobs and make the unemployment got vanished, now I am happy from bitcoin and can say I am an employed person because of bitcoin so it is the reason it is good if bitcoin does exist in country and it is growing very fast with the passage of time and getting high because now I can say bitcoin is going to be a legal currency.

CaterpillarRave

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Quote from: nemesis_ on December 10, 2017, 10:51:50 AM

Once bitcoin is legalized, government will take control. Purchases will be taxed. Transaction fees will be higher than usual. And also, transactions will now be traced. However, once it is controlled, the number of illegal transactions may decrease. Also once it is legal, the number of users will increase. Investors and traders will also increase in here. The transactions will be easier and faster as it can now reach anyone in the world.

I've heard about people are saying that Bitcoin has the advantage in transaction due to the low transaction fees. But it's gone for now ?

charlemagne_15

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

I think the government should not ban bitcoin within their area and improve the use of it by allowing blockchain technologies in the bank. The government will surely benefit from it for sure as the taxes from the transaction comes out within every investors and users. Obviously they will benefit a lot from it but that does not guarantee them that there will be no detrimental effects that's why bitcoin is not still legalized for some countries.

airdnasxela

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

Many of us are waiting for bitcoin to get legalized all over the world but before that we should consider first the negative effects it may bring to all of us. Bitcoin is not yet legalize throughout the world today because it is still innovating so that trouble will be avoided in the future. The government should regulate the use of blockchain technology within every banks so that we won't have a hard time adjusting as the way we hold money make its transition.

nemesis_

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Once bitcoin is legalized, government will take control. Purchases will be taxed. Transaction fees will be higher than usual. And also, transactions will now be traced. However, once it is controlled, the number of illegal transactions may decrease. Also once it is legal, the number of users will increase. Investors and traders will also increase in here. The transactions will be easier and faster as it can now reach anyone in the world.

dhrazzen

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Bitcoin gives us lots of opportunities to improve our way of living. Legalizing bitcoin is a great news to anybody. It may help to solve the main problem in the society which is poverty. Aside from that it also lessen the unemployed people. But, we should also know its negative side, transactions of drugs, illegal products, scam and abuse will takes place. So, goverment must put an action unto this.

yusupjatigumilar

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bitcoin is not legalized or illegal but in my opinion bitcoin is prohibited if, it is used as a medium of exchange other than currency in the country, because it will cause the decline of currency exchange rate of the country and could be economic crisis, that is where the illegal side of bitcoin, but if we use it only for digital assets to investing our money is legitimate because there bitcoin the same as other investment commodities such as share certificates, gold, and others

wawanwawan96

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Quote from: shamzblueworld on October 28, 2017, 02:43:44 PM

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

in my country is still declared illegal and has not been acknowledged to gain profit bitcoin country will be in taxes in each country.

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