Legalizing Bitcoin - page 22. | Bitcointalksearch.org

roddy5

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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.

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. Maybe the most that a government can do with the coin is to apply appropriate taxes once it is converted to fiat which may help to its economic growth.

sunsilk

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As long as a country doesn't declare something as illegal, it's legal.

This is right but there are people knows what's already legal and illegal. As long as there's no notification from the government if bitcoin is legal then they don't want to try it out.

No notification means no support so that's why they don't want to apprehend that bitcoin is legal so they choose to stay away from it and avoid anything that's related to it.

We've got different point of views on this thing but this is happening for most of the countries, no support - no notification - no law from the government it's not illegal nor legal.

PranDoW

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Quote from: Lampaster on November 02, 2017, 03:48:53 PM

Quote from: streetlight on November 02, 2017, 03:25:52 PM

You'll find that different governments will have different opinions on what to do and whether or not it will provide an economic benefit to it's nation. There are scattered results but ultimately all of them will want to start buying bitcoins and stashing reserves otherwise they're not going to have any wealth to go off of if they want to try and survive on the global market.

I do not believe that will be at least one government that will agree to keep the state reserves in bitcoins. It's too risky. One thing is clear. with the emergence of bitcoin all governments think about what to keep state reserves in dollars is dangerous. It could trigger mass ignoring of the dollar and the drop in its value.

In my opinion its possible to see near future. Maybe it gonna like like trial period. Some countries are trying to show their development by such innovations

Lampaster

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Quote from: streetlight on November 02, 2017, 03:25:52 PM

You'll find that different governments will have different opinions on what to do and whether or not it will provide an economic benefit to it's nation. There are scattered results but ultimately all of them will want to start buying bitcoins and stashing reserves otherwise they're not going to have any wealth to go off of if they want to try and survive on the global market.

I do not believe that will be at least one government that will agree to keep the state reserves in bitcoins. It's too risky. One thing is clear. with the emergence of bitcoin all governments think about what to keep state reserves in dollars is dangerous. It could trigger mass ignoring of the dollar and the drop in its value.

streetlight

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You'll find that different governments will have different opinions on what to do and whether or not it will provide an economic benefit to it's nation. There are scattered results but ultimately all of them will want to start buying bitcoins and stashing reserves otherwise they're not going to have any wealth to go off of if they want to try and survive on the global market.

Inkdatar

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Quote from: supine on November 02, 2017, 06:22:34 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.

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.

Gozie51

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Many government might not really look in the direction of legalizing bitcoin or cryptos as the case maybe if they don't find a means to control the usage. Control in the sense that making it an outlaw if a particular transaction is deemed illegal or a manner of transaction.

This control is because of orderliness in the society and making people obey precepts behind bitcoin. So, until the government comes out with measures to guide it, they might not be in a haste to support it fully. Meanwhile, even with the little support and good news around it, is soaring higher and turning out new rich people.

Webetcoins

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Quote from: sana gull on October 31, 2017, 05:55:56 PM

Quote from: UCHCHILD on October 28, 2017, 10:02:11 PM

That is why bitcoin is not use in most of the country because of the reason that government cannot have anything in every transaction, and so with the economy, it may cause to lower the economy of one country because people will not going to use anymore a paper money but virtual. And some got the idea of bitcoin as a form of transactions for crime which may cause so bad to one country.

You are absolutely right some countries need to have a good economic power but they didn’t do anything because they don’t have a knowledge about bitcoin whenever they realized they will must legal bitcoin in their country and people will love bitcoin the most.

Yes it is very important and now almost all the big dealers are investing in the bitcoin and they are investing in the bitcoin so it is the time for all the people to invest in the bitcoin and to make the money for the long time and you will not get suffer the lose for the legal currency if you will invest in the bitcoin and the value price will be the world’s most wanted and the best currency.

supine

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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 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.

h0lybyte

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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 no governments which say bitcoin is totally illegal but governments surely want to find a way they can take bitcoin under their control.
In my opinion, governments would need to implement tax on bitcoin economy by different ways, this implementaion may effect criminalisation also.
Many countries are already trading in bitcoin under these legal implementaions.

KaliLinux

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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've not heard that some countries have announced bitcoin as illegal. I think its not true.
There are ways to legalize the bitcoin currency system by writing laws and regulations. The only way to get benefit by legalize is a tax from bitcoin transactions.
Governments are planning to implement their own crypto currency for future. Also it is very difficult to few people who don't know about cryptocurrency. So chance is very less.

phieudu0408

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Having its anonymity can make the government into a big challenge for them. The government should be regulated bitcoin in order to have a benefits in terms of tax and to legalized all transaction in accordance of law. It could be improve the economics of a contries when they legalize bitcoin. If they make good use of it will be able to improve the economy of the countries. Currently many countries are accepting bitcoins but I have not heard of any countries whose economies are increasing when they legalizing bitcoin.

ajmapalo22

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The acceptance of government is very crucial in the market of bitcoin because this will help promotes the knowledge of bitcoin if they will allow transactions for this in their economy but the concern is that having bitcoin legalize lose the government control over legal tender because bitcoin is designed to be private and independent no one will ever have the control on it which makes government afraid of legalizing bitcoin they think tis can ruin their economy by means of illegal activities which cannot be detected. I think what's government needs now is to have the proper knowledge about bitcoin and trust on this kind of digital currency

zergenyt09

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Quote from: belalangsembah on November 01, 2017, 03:47:22 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.

bitcoin if to be legalized must be in accordance with the rules that do not harm the bitcoiner, bitcoin if legalized transactions will increase and promote the economy of a country

In my opinion, legalization of bitcoin will have more restrictions on the ones who are investing in bitcoin. It is because of the reason that bitcoin will lose its decentralized nature, and it will come directly under the control of government.

We’ll have to pay in the form of taxes as well to the government and bitcoin will lose its charm. So I think it should remain in a way as it is right now.

MakeMoneyBtc

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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.

The situation is complicated because governments are facing a new technology wich they dont know how to use. It is hard to legalize such a thing like bitcoin, in the same time is harder to make it illegal.
Governments can benefit a lot from legalizing bitcoin because they can add taxes for buying or selling it and also they can restrict the amount you can own. All I said it is very complicated to do and the chances to happen are almost nonexistent. Anyway we have to wait and see what will happen. No one knows

bakul idu

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it's supposed to be the government think the solution to legalize bitcoin, because it is very much advantage to be gained from bitcoin.

Kronos21

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Quote from: bitgolden on November 01, 2017, 07:27:59 AM

Quote from: d1ceplayer on October 30, 2017, 07:31:50 AM

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.

It is very important because without legalizingbitcoin will never be the main stream of all the currencies of the world I the future and once it is legalized by all the countries of the world then no power can stop bitcoin from becoming mainstream of all the currencies. Therefore I think that legalizing and regularizing bitcoin is very mandatory for its implementation all over the world.

It is not exactly like that. I don’t k now whether governments are interested in it or not but they definitely realize its existence and the threat it gives to them. Isn’t it the reason they are not talking about it because this way they can keep common people unaware of it.Whatever politician says, it goes viral. Passing a negative statement by any official regarding will be a bad publicity but still a publicity. Anyways, I see more people taking about btc around me now.

The higher bitcoin price the more people will accept it. Politicians understand this and don't know what to do. They are on the twine. This explains the fact that around bitcoin a lot of talk but absolutely no action. I think that governments try to impose large taxes on the use of bitcoin. If thus does not work to stop the spread of cryptocurrency, then they will go to more decisive action. In any case, it's only the beginning.

bitgolden

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Quote from: d1ceplayer on October 30, 2017, 07:31:50 AM

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.

It is very important because without legalizingbitcoin will never be the main stream of all the currencies of the world I the future and once it is legalized by all the countries of the world then no power can stop bitcoin from becoming mainstream of all the currencies. Therefore I think that legalizing and regularizing bitcoin is very mandatory for its implementation all over the world.

It is not exactly like that. I don’t k now whether governments are interested in it or not but they definitely realize its existence and the threat it gives to them. Isn’t it the reason they are not talking about it because this way they can keep common people unaware of it.Whatever politician says, it goes viral. Passing a negative statement by any official regarding will be a bad publicity but still a publicity. Anyways, I see more people taking about btc around me now.

xIIImaL

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Quote from: kidoseagle0312 on November 01, 2017, 04:01:02 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.

Making legalization in each country is not that easy to implement, because they number one reason is for sure they need to make a rules of by laws regarding this matter. Meaning, there s a big chances once it become legal currency it will only sure that there is a big chances it will become centralize which bitcoin. And that is not good anyway for us as bitcoin fanatic.

Due to the ICO ban of the Chinese and Korean now every country just fear about the investment on any crypto currency. Since bitcoin is evaluated to better place and price wise it reached to the peak value.
ICO investment options make the government thinks much time to invest on bitcoin. 5 months ago even Australian government shows the interest to make bitcoin legal but the drop after sometime.

haroldtee

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Quote from: Pleione527 on November 01, 2017, 12:30:53 AM

If government will show support over bitcoin I'm sure the economic status of their people will grow and also their countries. The reason why some government do not declare the legality of bitcoin is because they couldn't find ways to have control over it and they are afraid that if they will declare bitcoin as a legal tender some people or corrupt may use it for illegal purposes which they cannot control or determine. But if they will have control over bitcoin surely many will be benefited and many can have the opportunity to become financially stable.

This one is definite. First of all, it would create more awareness for the usage of bitcoin, hence increasing even the status of the people holding it already, as the value increases. Most citizens of some country suffering hyperinflation now are already finding solace in the usage of bitcoin and that speaks a lot of volume and over time, we will start seeing changes as the standard of living of people keeps getting better and hence helping the economy in general.

However, with respect to fraudulent and corrupt activities, I do not see how this cannot be curtailed if regulated and if exchanges are monitored. At least they will have to make use of an exchange before they even purchase in the first place and the regulation comes with anyone who wants to use an exchange going through the verification process, so with that, there is no way you cannot be nabbed. This does not mean some corrupt people won't always find their way like they normally have, but the usage of bitcoin won't definitely improve it.

Topic: Legalizing Bitcoin - page 22. (Read 5728 times)