Legalizing Bitcoin - page 19. | Bitcointalksearch.org

swscowods

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Quote from: Suguha on November 06, 2017, 11:12:37 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.

We all know that legalizing bitcoin can bring us a lot of benefits and convenience but we should still consider that the legalization of it is not as easy as we think it is. The government should focus on settling things between the banks within the country and blockchain. They should also declare that the use of bitcoin for payment is allowed. If this things would be tolerated, bitcoin for sure will not be hard to be accepted by the society which may lead to legalization.

As you said, legalization is not that much easy for a government. Reason is, if they do so, they have to make themselves out for the economy that involve the transactions in bitcoins. And the only thing that governments can’t do is this one.

But still, we are so much hopeful for the time when there will be more bitcoins in society and it will be legalized in all aspects for better race.

KingdomHearts

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Quote from: muhammad-adnanzain on November 07, 2017, 08:56:19 AM

the legality of bitcoin as a exchange like real money is depend on state policy, various considerations will be used before bitcoin can be recognized and given legality in a country.

The legalization of bitcoins needs a serious consideration on the behalf of a government and there is a requirement of complete set of policies before actually announcing bitcoins under the heading of legal currency form in the world.

But I personally don’t support this idea because being decentralized and illegal add up to its market value and hence there is no bound of taxes and heavy duties to be paid to the government in terms of transactions and no limitations of use as well.

tj4dmx

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Bitcoin is legal everywhere. The issue only is regulations !!
They are not talking about regulating bitcoin users or bitcoin peer-2-peer users but exchanges !!

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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.

Legalizing bitcoin is not as easy as we think it is, it can either give us good outcomes or bad. On the other hand, the government will be the one to blame if ever thing go wrong with bitcoin because the only time that they should analyze it is when bitcoin is already sytematized with the run or flow of a country. By this way we can make sure that legalizing bitcoin would not cause any trouble and we and the government will benefit.

Spontebob

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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.

The government should just stay off hand with bitcoin because at the very beginning it is decentralized so if the government would take responsibility on it, then some investors will surely go away. The only way I think the government can benefit from bitcoin is though banks where we transmit our money to. It can support the economic system of a country I think by making more and more people rich.

mifanmuzny

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If they legalize BTC in my country it will gradually increase the comfort of my nation. There is no doubt about it

justdimin

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Quote from: muhammad-adnanzain on November 07, 2017, 08:56:19 AM

the legality of bitcoin as a exchange like real money is depend on state policy, various considerations will be used before bitcoin can be recognized and given legality in a country.

Apparently, a whole lot would have to be put into consideration before bitcoin is legalized by any country. Most countries have already put two and two together and some are already following the same thread. Putin said the other day, that blockchain technology is a good thing but as long as it is not regulated like some top countries are already doing, it would become a threat. So many people complaining about the legalization of crypto today actually have some things up their sleeves.

Ewinsane

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Quote from: loreykyutt05 on November 04, 2017, 10:16:44 AM

Quote from: joromz1226 on November 04, 2017, 09:40:07 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.

For me once bitcoin become legalize. Probably it could have a restriction and laws about the bitcoin users and holder of bitcoin every time they make a transactions, of course once the government handle it can have tax deduction anyway..

Hmmm I doubt they will be able to tax a bitcoin transaction that happens within a bitcoin network since the government has no control over it however what they could do is put tax on exchanges and impose a law that they could use to control your transactions when you are planning to convert your bitcoins into cash

All of us being the Bitcoin holders never ever want it to become a legalized currency because we all know that if it would become possible in future then the freedom one has to use Bitcoins in his business investment or other dealings would ultimately decrease.

The government would start to take the whole matter in its hands and it would obviously lead to the payment of heavy tariff in return of Bitcoin exchanges funding and many other processes required for earning money to the cryptocurrencies.

zulkarnaen

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Quote from: babysweetTiger0401 on November 07, 2017, 06:34:01 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.

The popularity of bitcoin nowadays, cannot be stop right now and its really trending where even the scammer taking the advantage to used bitcoin as front to their bad intentions to scam others. And where other country decided to make it legalize like in Japan, korean, Vietnam, India, And other upcoming country.

With the growing population of countries that bitcoin legalize this certainly brings a good impact to the progress of bitcoin also also bring a better economic change for the country and at least the change can be felt by bitcoin users in the country.

hpmp

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Quote from: gunhell16 on November 07, 2017, 06:31:04 PM

isn't it legal ? as long as there no law that will abide the bitcoin around the world you may consider it legal! and if a country will stop bitcoin like what china did ! people will find way to have bitcoin in other country, therefore banning bitcoin will reduce your fellowmen and wwilll give other country a good source in the near future !

The ability to move money to another country doesn't make Bitcoin legal, no sir.
Banning Bitcoin is making it illegal. That is exactly what China did.

babysweetTiger0401

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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.

The popularity of bitcoin nowadays, cannot be stop right now and its really trending where even the scammer taking the advantage to used bitcoin as front to their bad intentions to scam others. And where other country decided to make it legalize like in Japan, korean, Vietnam, India, And other upcoming country.

Sadlife

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They can benefit and regulate bitcoin using third party websites that support's converting bitcoin into their own fiat currency and tax that bitcoin user into cashing out his/her converted bitcoins and at the same time you can get the information of that specific bitcoin user. But if they want to regulate the blockchain ledger then it would be impossible.

gunhell16

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isn't it legal ? as long as there no law that will abide the bitcoin around the world you may consider it legal! and if a country will stop bitcoin like what china did ! people will find way to have bitcoin in other country, therefore banning bitcoin will reduce your fellowmen and wwilll give other country a good source in the near future !

naily

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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 bitcoin benefits a country, it must be bitcoin legalized, but legalizing bitcoin is not as easy you imagine, there must be a rule of mutual benefit, bitcoin if legalized can increase the purchasing power of local people, so that the economy can be helped by bitcoin

betMaster

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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.

It can actually push forward engagements and deals with other countries that deals with bitcoin such as china and other middle east country , thus making import and export transactions much easier through bitcoin payment and in consequence helping both countries to develop their relationships , promote their products and benefit from each other resources in a way that improves the respective economy of both countries . It would make easier payments since there'll be a mutual currency that both use and accept and both won't have to convert their money to dollars to make any payment . All business will be traceable and counter bond will have much harder time to get into both countries .

usorin

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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.

A country can create all kind of laws and tackle political decisions related to bitcoin regulation. To benefit from incomes, it is simple, they just put some taxes. I'm masking my self what would a government, thru their political conception, do to sustain or encourage the bitcoin transactions.

sana54210

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Quote from: diouf67 on October 28, 2017, 05:14:49 PM

I think until something is declared illegal it is legal. That's how the law works. People need to understand the difference between being legal and being a legal currency, a legal currency will mean that it has to be accepted within the country by law.

That is right! And once it is accepted by law, it totally means you are free to use and that even creates more awareness for the usage of the coin. However, not declaring any status or not including the usage in the law in any country does not still make it illegal and one way or the other, we will still have to assume it is legal until otherwise. After all, it has to be one of the two.

poodle63

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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.

Are you sure? what about the japanese that already legalized the bitcoin as a legal payment and it's a bit ridiculous to see you are saying about that will not become a good sign to the bitcoin. The regulate will bring the more money will be going to the bitcoin or crypto market capitalization.

Pinkris128

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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 bitcoin was not that easy to pass. There are many things that need to be consider first. Users also needed here and not only the government they must know how to used it properly and not in evil ways. I think if bitcoin would legalized by the government many currency would rise and it will help the economy if users would help the government by sharing their bitcoins to it. Being greedy wont result to a negative effect and that is the no. One that need to be think when it is legalized.

haroldtee

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Quote from: Capt00 on November 07, 2017, 08:34:09 AM

Quote from: Suguha on November 06, 2017, 11:12:37 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.

We all know that legalizing bitcoin can bring us a lot of benefits and convenience but we should still consider that the legalization of it is not as easy as we think it is. The government should focus on settling things between the banks within the country and blockchain. They should also declare that the use of bitcoin for payment is allowed. If this things would be tolerated, bitcoin for sure will not be hard to be accepted by the society which may lead to legalization.

I know we are all contented of what is bitcoin right now, legalizing bitcoin is not really we wanted. Instead, the only thing we ask is to be accepted and be supported by the government. Legalizing bitcoin could lead into a big change of bitcoin concept and the way it runs.

You said the only thing we want is for bitcoin to be accepted and supported by the government. The last time I checked, that is excactly what legalize means and except people are getting the wrong picture here, legalization is a good thing. Legalization would definitely usher in regulation of the activities surrounding bitcoin usage but that would not make it less of a decentralized currency and regulation is not something we can run away from if we want to go mainstream.

Topic: Legalizing Bitcoin - page 19. (Read 5704 times)