Legalizing Bitcoin - page 21. | Bitcointalksearch.org

Star_Bucks

full member

Activity: 263

Merit: 102

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.

Legalizing bitcoin is not as easy as we think, a lot of innovations should be made first before this would fit within every country of the world. One thing that the governmeny should do to regulate bitcoin in the country is by letting it go off their hands since it is decentralized and don't create troubles for those who are doing bitcoin. By this way they can ensure that the economy of bitcoin in the country will not get messed up and things will be okay between the two.

n691309

legendary

Activity: 1526

Merit: 1001

Quote from: gredisgold88 on October 28, 2017, 02:34:03 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.

loreykyutt05

sr. member

Activity: 434

Merit: 250

Free Crypto in Stake.com Telegram t.me/StakeCasino

Quote from: joromz1226 on November 04, 2017, 08:40:07 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.

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

Bitfyer

newbie

Activity: 23

Merit: 0

In some countries, it is better to keep politicians away from Bitcoin or any other cryptocurrencies, specially on those that are not very economically free. Here in Brazil, for example, they probably would try to make Bitcoin illegal when they find out that people can keep their money without paying taxes with Bitcoin (at least until they sell some amount of bitcoin an transfer the money to any bank).
Of course governments don't like the idea of people controlling their own money without paying taxes and without the help of banks, but if at least the most economically free countries declare Bitcoin legal, it would make the things a lot easier for the Bitcoin community. And of course, Bitcoin price would go to the moon or beyond.

joromz1226

sr. member

Activity: 798

Merit: 258

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.

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..

cydrix

full member

Activity: 602

Merit: 129

Quote from: CoolSkeleton on October 28, 2017, 03:48:49 PM

there are allways some ppl in government who want to get free money from us to their wallets, is this possible to make bitcoin transactions fully anonimus? becouse i'm pretty sure that russian politics are too greedy to not to stole some cryptocurrency for no real reason

Lol youre halucinating or something? No one could do that mate bitcoin is the most secure cryptocurrency though it depend on your wallet to use of. This is why bitcoin is decentralized to manifest large sum of money or have the freedom to earn or have many money as you want with no strings attached meaning unnoticeable or anonymous.

Nasty23

full member

Activity: 736

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

Quote from: senne on November 03, 2017, 01:55:17 PM

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.

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.

stryker

sr. member

Activity: 518

Merit: 250

Quote from: Isaak Bitcoin on November 03, 2017, 03:08:24 PM

I think in 2018 most countries will legalize bitcoin.

Do not be too naive. Far few governments are so progressive to be aware of the future of the Crypto-currency. I suppose in 2024 maybe.

Isaak Bitcoin

member

Activity: 170

Merit: 10

I think in 2018 most countries will legalize bitcoin.

senne

hero member

Activity: 1078

Merit: 507

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.

Bitcoin transactions cannot be tracked, government needs to come up with a solution so that both user and government are benefited with proper rules and regulations. Otherwise, Bitcoin will be banned by government if the state found themselves in loss happening due to untracked transactions. Is something likes this happen like banning across the globe then Bitcoin may eventually fade away.

Hamstead

sr. member

Activity: 805

Merit: 250

Quote from: Pasnik on November 03, 2017, 08:42:33 AM

Quote from: KingScorpio on November 03, 2017, 08:36:15 AM

Quote from: Xising on November 03, 2017, 08:33:53 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.

The government just simply needs to announce to it's people that bitcoin is safe, then that would guarantee the people of it's use. It will definitely affect a country's economy, but in a positive way, especially in trades and investments.

i doubt governemts would love to legalise or applaud an energy wasting mining competition, claiming itself to be valuable, especially governments in poor countries like haiti would hate that, since they need energy for basic things to live.

Government will not declared bitcoin is legalized right away. It takes a process to make it happen though are some countries bitcoin has been legalize already. Thus, people will adopts whatever happen in the future.

Not only of having tax is the reason why countries legalizing bitcoin, but also because they wanted to take controlled with it. But sadly, there intension towards crypto doesn't work. Of what happen to china is just because of their dark plan towards bitcoin, they banned crypto just because they are failed of taking control with it.
Of course there is a big money from crypto and most country leaders are planning to have it in their own hands.

Pasnik

sr. member

Activity: 649

Merit: 250

Quote from: KingScorpio on November 03, 2017, 08:36:15 AM

Quote from: Xising on November 03, 2017, 08:33:53 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.

The government just simply needs to announce to it's people that bitcoin is safe, then that would guarantee the people of it's use. It will definitely affect a country's economy, but in a positive way, especially in trades and investments.

i doubt governemts would love to legalise or applaud an energy wasting mining competition, claiming itself to be valuable, especially governments in poor countries like haiti would hate that, since they need energy for basic things to live.

Government will not declared bitcoin is legalized right away. It takes a process to make it happen though are some countries bitcoin has been legalize already. Thus, people will adopts whatever happen in the future.

Cointertrade

full member

Activity: 238

Merit: 100

Quote from: Yamifoud on October 28, 2017, 06:16:28 PM

I know legalizing bitcoin is the next step to be make by other countries as to support crypto. But facing the problem in terms of regulation is take a long process to come-up a proper resolution and policy, since bitcoin is being decentralized. Having its anonymity can make the government into a big challenge for them.

Yes it takes a very long long time to legalize bitcoin because you must need to consider your fellows. We must consider peoples awareness about bitcoin. And they must be computer literate.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: Xising on November 03, 2017, 08:33:53 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.

The government just simply needs to announce to it's people that bitcoin is safe, then that would guarantee the people of it's use. It will definitely affect a country's economy, but in a positive way, especially in trades and investments.

i doubt governemts would love to legalise or applaud an energy wasting mining competition, claiming itself to be valuable, especially governments in poor countries like haiti would hate that, since they need energy for basic things to live.

Xising

sr. member

Activity: 910

Merit: 257

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.

The government just simply needs to announce to it's people that bitcoin is safe, then that would guarantee the people of it's use. It will definitely affect a country's economy, but in a positive way, especially in trades and investments.

ramsdaj28

sr. member

Activity: 420

Merit: 256

اللعنة

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.

It's actually not that hard for government to regulate bitcoin in their country. In fact, if they want to, they will. They just need to propose a bill and have a talk and agreement with the national bank about the regulation and legalization of bitcoin. Bitcoin is actually not illegal, but some people has a wrong impression on it being illegal because of those "deep web" stories. Countries like Philippines, USA, and Australia is already regulating bitcoin in their countries.

The issue here is not actually the bitcoin as cryptocurrency, but it is how and who use it. If ever government put tax in using bitcoin, I think the users or holders won't be the one who will suffer, but those businesses and exchanges that are running the bitcoin business in a certain country. In that way, the taxes from these establishments can be utilized by the government in creating projects that will benefit the country as a whole.

Flodemaga

sr. member

Activity: 286

Merit: 250

Each country is doing already some tests mooving forward to legalize bitcoin, i wouldnt be surprised if some more countries confirms their support to bitcoin into the next months. Countries doesnt need anything to make bitcoin legalized, the big issue is they see bitcoin as a competitor and recognize bitcoin as a decentralized currencie isnt easy at all, besides those it would help to open more companies to provide some service related to bitcoin.

stryker

sr. member

Activity: 518

Merit: 250

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

So what would a government needs to do to regulate bitcoin in the country?

I guess that governments shouldn't if we are talking about regulation.
In this case it should be watching. Perfect governments...
But in the real life any government's governance.
So any liberal liberties of the people are powerless.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

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.

It will be funny if a country will make bitcoin as an illegal coin and will proclaim and promote that their altcoin is legal, there's no sense of telling that to the intelligent citizens on their country.

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

So what would a government needs to do to regulate bitcoin in the country?

They have to assign the Central Bank on this thing with the regulation. But the fight will be tough for them if they will not going to put any body of government on this thing cos' they might fail to regulate.

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

And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country.

Taxation.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: roddy5 on November 02, 2017, 05:40:27 PM

It will somehow be contradicting, once a government regulates the use of bitcoin that only means that the coin might be centralized and bitcoin's most popular characteristic is it being decentralized.

Regulations are meant to somewhat 'adjust' this market so that the government doesn't entirely get outruled. It is some sort of an attempt to 'control' something that can't be controlled -- control is basically what a government cares the most about. After that we have to deal with tax that we are subject to in various ways of how we use Bitcoin, which of course is different per country. In no way do regulations impact Bitcoin's decentralized nature, so there is no need to worry about that.

Topic: Legalizing Bitcoin - page 21. (Read 5728 times)