Legalizing Bitcoin - page 18. | Bitcointalksearch.org

Saveplus

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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 agree that it can be legalized but we all know that there some disadvantages if it will became legalized like imposing a tax on it,rules and regulation of them all we want to do is follow them and make things clear from bitcoin.And if there are some corrupt in government I think they will use it in their criminal activities and I dont want to happen that in bitcoin.

setupbounds

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Quote from: Nasty23 on November 04, 2017, 06:50:31 AM

Quote from: senne on November 03, 2017, 02:55:17 PM

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.

Bitcoin transactions cannot be tracked, government needs to come up with a solution so that both user and government are benefitted with proper rules and regulations.

Yes this is one of the problems that every country have about Bitcoin because they don't want to make any illegal activities in their country that the Bitcoin can be used because of that activity they didn't track and they didn't know it.

I think it will be very good to make bitcoin legal in countries because bitcoin can be more high with his price and the ratio of its users will be also increased and the most important thing is that everyone will start to pay tax and same its transition will be also increased and become fast so I think it will be a very good step to make bitcoin legal.

megynacuna

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Quote from: Sale_man on November 13, 2017, 03:10:12 AM

Bitcoin can significantly improve the economics of the country even if not legalized , because if so they will need to know who's holding and how much are they holding and then make them pay taxes , and this could turn quite difficult since people won't deliberately declare owning bitcoins to just give to the government. It can help the country itself if they start dealing with countries that are already dealing with it tho and make transactions smoother .

It can only affect an economy if it has direct input and output from the economy through the workings of exchanges in the said economy. Many exchanges are springing up everywhere and if such cryptocurrency exchanges exchage bitcoins for cash and vice versa they are directly infusing foreign exchange into the economy and it will improve it with time and so legalising bitcoin or allowing its operations within a country can be very beneficial.

cryptoblue

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Well, no one can stop bitcoin. More and more countries will legalize bitcoin in the coming years.

LuanX3

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I think bitcoins are legal in most countries. If there is no law saying it is illegal then you can be sure that it is legal in your country. Actually something just becomes illegal if there is such a law saying it is. But since most countries have not even created laws or any of their existing ones saying the use of bitcoins is indeed illegal. So the point is that right now the laws of the world does allow bitcoins, so we do not have to worry about it legally speaking.

Sale_man

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Bitcoin can significantly improve the economics of the country even if not legalized , because if so they will need to know who's holding and how much are they holding and then make them pay taxes , and this could turn quite difficult since people won't deliberately declare owning bitcoins to just give to the government. It can help the country itself if they start dealing with countries that are already dealing with it tho and make transactions smoother .

Qartersa

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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.

Deathgamer

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Not all country legalize bitcoin like my country which is philippines,bitcoin is not legal but its better that bitcoin is not legal in my country because if its legal the government can have the power to control bitcoin and the value of it will definitely drop because their are alot of taxes and charges that they will implement so that they will have a big part or big income in bitcoin.

grifter1870

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i agree if our govenment here will legalize the bitcoin into the fullest... but sadly they were doing some negative outcomes base on what they saw into crypto currency world here in philippines.

davinchi

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Quote from: Inkdatar on November 02, 2017, 01:09:03 PM

Quote from: supine on November 02, 2017, 07:22:34 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.

I think this is quite a good idea. The government will now acknowledge the use of bitcoin, so the people will do it as well. One thing can start as small and turn out to be big. It is the same with bitcoin. I believe it will dominate the world.

When bitcoin become well known it is not declared that bitcoin is illegal. In order bitcoin to legalized there are many things to consider and to follow. A government can help the economic system by collecting tax from all users. Yes it will acknowledge bitcoin and I think if this would happen there are many rules to follow as a user.

Is this due to legalization of the countries that bitcoin price is growing day by day? I think bitcoin doesn’t need any legalization of any country or institution because decentralization factor is enough for bitcoin to win the masses heart/well and rule over the world. If governments legalize bitcoin so it will be in government favor because government will collect taxes from people.

Eventually government will compel by masses pressure/insist and will legalize because a government is due to people where government cannot ignore the people well.

Sled

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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 they want to regulate bitcoin then they need to make an order or law that will let the people know that there are limits in using bitcoin and they can benefit in legalizing bitcoin by having a chance for an option to experience faster and more secured kind of transaction and it can also help the other people to gain more profit because bitcoin is a good way also to grow money.

kimpena

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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.

shalnark

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Legalization of bitcoin in the market for now is not applicable, due to decentralization of crypto currency in the world. Maybe it was possible to happen if the government of each country take over the authority to make a decision for bitcoin. Since government are not part of crypto currency, I think and believe that this is not happen.

wuvdoll

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Quote from: 3la9l_kolbaCa on November 07, 2017, 07:53:10 AM

this is not good idea for anyone especially to bitcoin. bitcoin is the most valuable and most high price in the crypto currencies right. if the people let this coin to be legalized for sure there will be more people who will abuse it.

Maybe I am just not getting your point or you did not explain it enough but I do not see how legalizing will make people abusing it. Legalizing something is making something permissible by the government's law and if bitcoin is permissible, that would create more awareness and will help the government find ways to regulate its usage so it is not used for corrupt practices.

Legalizing bitcoin may not have big differences in applications of bitcoins but legalizing will help in boosting bitcoin adoptions, hence it is highly preferable one but only until bitcoin hits to the level of main stream adoptions.

streazight

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Quote from: cryptojac17 on November 07, 2017, 08:32:46 AM

Quote from: n691309 on November 06, 2017, 10:52:26 AM

Quote from: gredisgold88 on October 28, 2017, 03:34:03 PM

legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

Legalizing cryptocurrency is not difficult as far as I am concerned and some countries have already done that. It just has to do with passing some laws which would also regulate it and then activities revolving around bitcoin becomes allowed.

It does not have anything to do with global elites and if they want to get involved eventually by utilizing the currency, then it is the same as any other person who would.

Legal or illegal any type of currency can be used for some unscrupulous activities I remember there is a saying that says that money is the sources of all evil, may opted to do bad things because only few were in control or having big shares of money, I don't even know if there is a currencies that could help mankind for being slave from high taxes and government control .

True! Illegal practices has always been on right from the onset and it is just the state of the mind of those who wish to be illegal that makes them practice it as long as they can use the tools at those moments. Before bitcoin, corruption has been going on and I really do not know why people now think that bitcoin would help increase it.

There would always be a control except that it would be limited, but the activities’ surrounding it is one thing we cannot expect the government to just look away from.

coynedterm

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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.

This is really a big problem for the bitcoin whether it is legal or not . In many countries people are using bitcoin with blind eyes , they don't know whether it is legal or not .
Here in my country people are using bitcoin , but with the use they are saying that bitcoin is not legal Because government have not yet made any rule for the bitcoin , but opposite of this government rules are saying that you need to pay tax according to your income .
But here question is that , if you can't give permission to use bitcoin than for which thing you want get tax .
The condition for the legality of the bitcoin is totally at the mid of the descion by the government , either they should ban it or regulate it , so that people can use it openly and pay tax to use with full proud and in that way country's economy can easily grow .

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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.

Only few countries (less than 5 countries) have called out bitcoin to be illegal. Rest of the countries allow its people to use bitcoin without causing much trouble.
If government starts regulating bitcoin, then it won't have its current value anymore. It loses one of its key features - decentralization. The government will take over bitcoin if it starts regulating it.
The economic system won't be effected much due to bitcoin.

grifter1870

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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 our country, there were many rumors etc, about bitcoins, flashing news in every networks on how bitcoin changes our daily lives. Some are positives, some are negatives.But think they will do something on how to have some benefits on bitcoins...

naidray

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Quote from: bakkang on November 07, 2017, 09:16:21 AM

Quote from: 3la9l_kolbaCa on November 07, 2017, 07:53:10 AM

this is not good idea for anyone especially to bitcoin. bitcoin is the most valuable and most high price in the crypto currencies right. if the people let this coin to be legalized for sure there will be more people who will abuse it.

I dont think that bitcoin would be legalized so dont worry. Many of us know about bitcoin and that is one factor to legalized bitcoin the awareness of people but we cant deny that bitcoin is not yet popular especially in the remote areas. Bitcoin takes a long period of time to make it legalized.

Bitcoin is already officially legalized in most places and its usage is already being regulated. Even though in some places it is unofficial but bitcoin is still being used. I am not sure you understand what legalize means, because at the end, it is either bitcoin is declared legal by a country which is legalization or declared illegal.

Hence, you saying that you do not think it can be legalized is improper cause the only way the government can accept it totally is to regulate it and that means they accept its usage but under some circumstances. Unless we want to just keep using bitcoin without the government saying anything about it, then we would be joking.

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It's good to legalize bitcoin so that maximum people can uses bitcoin and it becomes one of the gaint currency in the world

Topic: Legalizing Bitcoin - page 18. (Read 5704 times)