Topic: Legalizing Bitcoin - page 20. (Read 5704 times)

I agree, if ever it will be implemented it probably has a lot of things required before it would be legalized. And I'm sure a lot would also oppose the decision to make bitcoin legal and the fact that especially if the governments are going to take control of it, for sure it will be abused or misused.

In fact legalization of BTC in various countries are resulted from its major economy drivers, if you look into wiki, you would find that countries that relies very much on traditional exports like natural resources would most likely ban bitcoins as there would be harmful when big transaction could be done without any traces, it directly promotes money laundering and schemes from big players. Small countries are more likely to allow bitcoins as it's like an indirect investment into their land when their people has more buying power through wealth from cryptocurrencies, promoting alts? it's very unlikely for government to publicly support alts, they are not the same like bitcoin which are publicly recognized by Japan as 'Internet Money'.

It's possible to regulate bitcoin when buyers are surging, particularly in local service provider for buy/sell bitcoins, like my country a standard KYC is enforced when transaction are exceeding a certain amount, you need to provide identification papers and get audited to secure your deals and that's already a big impact for us considering the ownership of bitcoin are supposed be to anonymous. Government would benefit mostly from taxation, like how stock market they could obtain GST for 'allowing' bitcoins to operate in their land. The most understandable example how bitcoin could help is within countries that run mainly on tourism, accept bitcoin and meanwhile you could enjoy its growth.

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.

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.

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.

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 .

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.

People who are saying that bitcoin is not secure are not well aware of this coin my suggestion to them is first go and learn about it and them come and argue and yeah this is the most secure currency at this time nobody can know that you are owing it and your private key is accessed by you only so how can someone take those from you, bitcoin organization is well secured and they give unbreakable security to protect it.

The fact that the government tax even the tiniest things in life still exist and bitcoin is not an exception to it. Always remember that most politicians does not care for the common good, but rather they would legalize bitcoin with the intent of exploiting it for themselves, therefore bitcoin would be legalized one way or another. In the future, there would surely be countermeasures prepared and maybe right now, governments are developing a concept to tax crypto into a certain degree.

I think besides getting tax in every transaction which is impossible to be control by the government, Bitcoin will just simply help the economic status of one government. as long as the people benefits then the government will also benefit it will lessen the poor and lessen the corruption.

Yes, possible chances are there to legalize the Bitcoin but it completely depends on our government. But I see daily many countries finding the growth in blockchain technology and they will start researching how they will legalize the Bitcoin and blockchain technology.

If bitcoin really accept of one country that means that this country is open for breakthrough through modernity, modern money modern life and is better and easy to use and easy to get job online.

Yeah right those mentioned country didn't say that bitcoin is totally illegal they just regulated the use of it. In our country we are free to use and earn bitcoin, our government is not strict about it yet and I hope it remains that way. Bitcoin really helped a lot of us hear to earn since there are so many unemployed people in our country.

Which's clear.. I think that doesn't mean that all countries have never been able to legalize bitcoin and haven't been able to regulate on bitcoin's using, it has been proven until now there are already countries that can legalize bitcoin. And the institution that manage regular's currency circulation can approve the law or regulation associated bitcoin because predicted to help expand the reach of information technology in the banking sector. Some countries that haven't legalize bitcoin, to date many are still learning more about bitcoin technology and blockchain more deeply, of course this can be a consideration for the government to be able have legalize bitcoin in the country.

Japan for me has already set the precedence on how to legalized and embraced bitcoin. So if other nations want to legalize it, then they need not to go further because Japan did it. The problem though with other country is that they are afraid to legalized it as Japan did because they are afraid that bitcoin cannot be control by their government plus they have heard a lot of negative news that why they are still doubting bitcoin. But if they would closely scrutinized it, there's nothing wrong with it and they would really benefit from embracing and legalizing it in there country.

Yes you are right. If the present situation is considered deeply then it would not be wrong to say about Bitcoins being not legalized yet by any Government. This is due to a various reasons the major among all is just the fear to lose control over the usage of cryptocurrencies if the government starts to declare them under the legal ones.

Hence in short we can only say that whole procedure of Bitcoin legalization might take some more time for drawing out the complete plan of laws regarding its dealing and setting up limits for the users.

What governments need to do with regards to legalising bitcoin is to build a very solid structure around its use and procedures. There is a need for a legislative and legal framework to be drawn and established to regulate and monitor the use of Bitcoin. An agency needs to be created to register those who use and invest in Bitcoin with serious monitoring capacity.

The good thing is that once exchanges are regulated, all these anonymity would become impossible unless for the usage of mixing services anyway. However, we cannot really say it will not  be possible that some would not want to stash money into cryptocurrency especially the greedy politicians, but it may be hard.

Now, exchanges are solely requesting for verification even before you make use of them and unless you are doing direct P2P transaction without the use of exchange which I doubt, then there is no way you can remain anonymous.

the government has already received Bitcoin, and some countries have legalized the bitcoin.
 

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.