Legalizing Bitcoin - page 16. | Bitcointalksearch.org

jennywhzz

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Quote from: richkellj on November 27, 2017, 08:27:07 AM

Quote from: gyu22 on November 22, 2017, 02:43:38 AM

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.

Governments will never legalize bitcoins unless they know have known how to make it a centralize one in their favor. No government is willing to give people the right of digital currency and making their hands cut from taxes and other things which is used by govt to run the country and other expenses.

Legalizing bitcoins is what people want but not governments.

Fundalini

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The main reason why they can't seem to regulate bitcoin is that it will contradict it's design. It is quite easy for the government to profit from cryptos--just tax the users and be done with it. However, when you tax a user, his/her identity will be known so the anonymity that bitcoin provides would be overrun.

nl247

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Quote from: richkellj on November 27, 2017, 08:27:07 AM

Quote from: gyu22 on November 22, 2017, 02:43:38 AM

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.

This is one reason why a whole lot of government have not really been saying much. My country have not legalized it officially yet, but it is not illegal as well. A lot of activities are being done revolving around cryptocurrencies and bitcoin, so many exchanges are being operational which are being silently regulated (that I am sure of), while the bank has been doing some pretty good moves at understanding the technology and seeing how they can benefit from it. Legalizing will create huge awareness most especially among the IT oriented people in the country which I believe is one awareness the government is not ready to create yet for some reasons best known to them.

airdnasxela

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Quote from: shamzblueworld on October 28, 2017, 01:43:44 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 already some few countries who legalized bitcoin while some banned it within their nation. They all have their reasons behind their actions so we cannot simply judge them by what we're seeing. The legalization of bitcoin may bring good benefits for the many but we should also consider the consequences of it. There's no such thing as wholesome goodness, everything has its bad side and the same goes with bitcoin.

yusupjatigumilar

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The issue of bitcoin legality that I think will be quite difficult because in some countries fear bitcoin can weaken the value of their country's currency and will make a monetary crisis. I think bitcoin is better to be a commodity as it is today.

Funeral Wreaths

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Quote from: richkellj on November 27, 2017, 08:27:07 AM

Quote from: gyu22 on November 22, 2017, 02:43:38 AM

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.

you also have a point, and it seems that it is actually true, but it could be no also. the big participation of the government and the most positive way to help bitcoin grow is by legalizing and actually accepting it as another method of payment, but as usual it will take too long before it will happen, besides there are lots of hindrances before they can pass a law and start to debate if it will be finalized or not.

richkellj

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Quote from: gyu22 on November 22, 2017, 02:43:38 AM

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.

charmaine08

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It is good ti us if bitcoin is legal and have some banks and machines to operated in changing bitcoin into fiat . I hope bitcoin. Will be legal soon. .

android17

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Quote from: shamzblueworld on October 28, 2017, 01:43:44 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.

Government doesn't need to regulate Bitcoin to our country. If they do it, maybe they might legalize it and obviously having the tax is surely possible. I believe that they don't need to interfere with the cryptocurrency because I believe that we can work together and to be successful without them.

vidprab5

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Quote from: 4U on November 22, 2017, 08:47:59 AM

Quote from: tmaleha on November 21, 2017, 03:54:49 AM

My opinion is Bitcoin is already leagal only. Why we need certification from government that it is legal. So far you have access to bitcoin from anywhere in the world and you can transfer it. It is legal only. Only thing is Government not getting additional income from bitcoin that's why this issue. We are not cheating anyone bitcoin is owning with effort only so I strongly believe bitcoin is legal only.

I think it’s a very good idea to make bitcoin legal because those countries who make bitcoin legal so those people have a lot of facilities as compare to any other countries because its transitions are very fast there and banks are also going to accept bitcoin and its very to use bitcoin any place any time so I wish that bitcoin will be legal soon around the world.

I also support the idea of legalization of Bitcoin and other crypto coins. Indeed countries that approved this technology have done a great favor to their citizens. It would be very nice to do all the buying and selling in digital form. This way, our time and energy will be saved. Not only has this Bitcoin also given job opportunity to many unemployed people. Also, this is the future of money.

zergenyt09

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Quote from: kimpena on November 12, 2017, 11:34:07 PM

Legalizing bitcoin in a country is not that easy. It may take years before it become legal, after government made their decision. This matter will be discussed in the office of one agency which is assigned by financing or momey issues. Those who have positions in the government will discussed it well, they will do research about it. They will find reasons why is it right to legalize bitcoin in their country. Laws, rules and regulations will be provided to, so that it will be use in a right way it must.

But I think that it is not a hard job for a government to legalize bitcoin and I think that regulation of the business of crypto currencies will definitely prevent the ways of criminal and hackers of this digital world and indirectly it will improve the income of the common people as well as the investors well.

4U

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Quote from: tmaleha on November 21, 2017, 03:54:49 AM

My opinion is Bitcoin is already leagal only. Why we need certification from government that it is legal. So far you have access to bitcoin from anywhere in the world and you can transfer it. It is legal only. Only thing is Government not getting additional income from bitcoin that's why this issue. We are not cheating anyone bitcoin is owning with effort only so I strongly believe bitcoin is legal only.

I think it’s a very good idea to make bitcoin legal because those countries who make bitcoin legal so those people have a lot of facilities as compare to any other countries because its transitions are very fast there and banks are also going to accept bitcoin and its very to use bitcoin any place any time so I wish that bitcoin will be legal soon around the world.

niceone

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I don't think that bitcoin is illegal in the first place although some countries ban bitcoin but i think they're just scared cause they're seeing the real potential of bitcoin. Some countries is recognizing bitcoin instead of banning it cause maybe they know that it can be an advantage for them of course there will be a lot of laws will gonna pop out if a lot of countries finally adopt bitcoin.

gyu22

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Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

ThunderCatSteve

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Quote from: Qartersa on November 13, 2017, 02:02:37 AM

I think legalizing Bitcoin is unique in every State or country of jurisdiction. Its process varies. But one thing is for sure, it is more complex than it was imagined. Why? It is because Bitcoin (or other cryptocurrencies alike) came to existence whereby it totally changes the fiat system. It does away with the norm as regards regular banks, government back ups, among others. In short, it is a class of its own. Moreover, it changes over time because day by day there are new developments that come with it making governments unable to come up or foresee substantial changes. To legalize it would be tantamount to carrying the burden of studying it and carefully foreseeing how it is going to be in the next days, weeks, months, or so.

I think it’s a very good idea to make bitcoin legal because when we see the bitcoin performance in those countries where bitcoin is legal so it’s much more better than those countries where bitcoin is only accepted its transition are very fast and its acceptable in banks as well so I think it’s very important to make bitcoin legal.

faceoff97

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Quote from: shamzblueworld on October 28, 2017, 01:43:44 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 don't see the need of making bitcoin legal, It may actually make things more complicated. With or without legalization of bitcoin, it will go beyond its peak price. Actually bitcoin is decentralized, which means government cannot have full control over it and maybe just have the power to regulate this. Recognition may be essential but this diesnt mean legalization is a must to happen.

ringgo96

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Quote from: a4techer on November 21, 2017, 08:44:17 AM

Quote from: shamzblueworld on October 28, 2017, 01:43:44 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 the country's was already legalizing the uses of bitcoin but some of country they are legalize bitcoin including my country so that many of my country men didn't know the bitcoin and some of them saying that bitcoin was scam but some of country was legal to use bitcoin on many ways like buying, paying, shopping and many others that using bitcoin for their daily lives.

it is currently not too many who know bitcoin. because the bitcoin is still illegal so not too much in my country knows bitcoin. so the bitcoin we need to develop more so that people can know what bitcoin is.

a4techer

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Quote from: shamzblueworld on October 28, 2017, 01:43:44 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 the country's was already legalizing the uses of bitcoin but some of country they are legalize bitcoin including my country so that many of my country men didn't know the bitcoin and some of them saying that bitcoin was scam but some of country was legal to use bitcoin on many ways like buying, paying, shopping and many others that using bitcoin for their daily lives.

Yaunfitda

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Quote from: mOgliE on November 21, 2017, 08:05:30 AM

For most governments I think it is not that simple.

First because many people know the word "bitcoin" but not what it represents actually. Then, because allowing such currency means necessarily acknowledging the existence of the iceberg of transactions around bitcoin. Not that easy.

Legalizing bitcoin would be indeed really interesting but I think most governments are not ready Grin

Some government are not yet ready because because that a lot of negative connotation about it. But I really don't get my government is really avoiding bitcoin. It may be that they don't know what 'bitcoin' is, but there are already countries like Japan who have already set precedence. All they can do is follow the lead of Japan and I think it will be just fine.

I guess its really hard to removed the bad images of bitcoin that has been portrayed already. And it looks like it has struck to the government around the world. So we have to face that fact that some countries are going to be friendly, but majority of it as against bitcoin.

mOgliE

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For most governments I think it is not that simple.

First because many people know the word "bitcoin" but not what it represents actually. Then, because allowing such currency means necessarily acknowledging the existence of the iceberg of transactions around bitcoin. Not that easy.

Legalizing bitcoin would be indeed really interesting but I think most governments are not ready Grin

Topic: Legalizing Bitcoin - page 16. (Read 5728 times)