Legalizing Bitcoin - page 23. | Bitcointalksearch.org

kidoseagle0312

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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.

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.

belalangsembah

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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.

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

Ilegendph

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Thinking on the higher plane of existence.

I don't think bitcoin can be legalized because it is technology. Its like when there is new product like cellphone government does not legalized them but they regulating it by quality control and other means. As long as people accepts bitcoin, then government has nothing to do with it except from banning and regulating it.

corroze

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legalization of bitcoin in a country is very good because it will certainly provide and be able to increase the confidence of the community and others to participate in Bitcoin in various fields of business such as investment or trade.
but surely from time to time the government will realize how big the benefits of bitcoin and the positive impact of the bitcoin on the economy of its users who at all times continue to experience a better change.

wdnj

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Quote from: ?? on ??

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 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

Legalizing is very important for bitcoin because till that time when bitcoin will not be legalize the people will not trust in bitcoin and many people will not invest in bitcoin. They will think bitcoin as an illegal currency and therefore they will avoid investing in bitcoin.

On the other hand of all the countries legalize bitcoin then the people will trust in bitcoin and when they understand the value of bitcoin they will definitely invest in bitcoin.

Pleione527

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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.

AmXProX

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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.

Maybe what government can just do is to regulate its use. Make guidelines specially on converting it to fiat, how the taxes should be properly calculated. It will be hard for a country's government to support bitcoin totally specially declaring it's use for the economy.

Most of the countries are depending on loans that they are getting from banks to fund government projects and developments. Once they gave a statement favoring the trade of the coin then banks might refuse from giving them loans and as of now bitcoin can't replace the banks with this purpose.

Janademir4

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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.

actually not too many countries that legalize bitcoin in the country,
what governments need to do is monitor the use of bitcoin, whether it is bad for the country or not
the government's profit is one of them by setting taxes on bitcoin transactions if the country is legalized

DevilSlayer

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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 think it is good if all of the countries will legalize the bitcoin. The cashless society will happen if all of the countries will legalize and eventually use bitcoins. We should spread our knowledge about bitcoin to the other people for them to become aware to what is bitcoin.

nethan1btc

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Quote from: ROB18 on October 31, 2017, 10:38:14 PM

Legalizing bitcoin is better in order to have a safer transaction. Here in Philippines, it is legal but not yet considered as legal tender.

It is already legalized transactions here in the Philippines. BSP, is officially regulating local Philippine Bitcoin exchanges as remittance companies and recognizing Bitcoin as a legitimate payment method. Bitcoin itself will give us the possibility to bypass banks, and regulation won't change this. Someday Governments will create ways to charge taxes out of Bitcoin income.

ROB18

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Legalizing bitcoin is better in order to have a safer transaction. Here in Philippines, it is legal but not yet considered as legal tender.

Gabb

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For us as bitcoin users, we should not worry too much about the authorities remaining indecisive about the deregulated situation of bitcoin. We as users will continue to use it despite the uncertainty of governments. They are the ones who should take the first step towards regularization, since they are most interested in charging us more taxes.

doch

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Quote from: Gozie51 on October 29, 2017, 03:05:18 AM

Quote from: Bitcoin_BOy$ on October 28, 2017, 10:31:04 PM

Making bitcoin addresses traceable can be the solution, Imagine that there's a wallet provider, in which you have to verify your ID to get a bitcoin wallet.
then you can use this wallet to send bitcoin to other people who have wallet from same wallet provider. the price may be a problem in this case.

Supporting that when you have a traceable wallet identity, you can verify who and who is using bitcoin, incase anything happens, you can go to the company to get all the wallet and trace it to a user either through phone contacts, drivers licenses(especially where they were used for initial registration).

Moreso, regulations will help the economy because it should involve taxing and generating of money etc but the point is even money generated from fiat at the moment has not been judiciously used for the ultimate benefit of the masses.
So, what would be the need for regulations?

According to me this the best think will happened because bitcoin is the most popular cryptocurrency and also a lot of people hope that one day bitcoin will legal and their life will change so a lot of people lives are connected to bitcoin if that happened than the face of the whole world will change.

sana gull

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Quote from: UCHCHILD on October 28, 2017, 11:02:11 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.

calandra78

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I think a bitcoin can be hard to get in and on the legal right in a country or region because some of them consider that bitcoin impacted bad for society. whereas with bitcoin they could obtain additional revenue and help their economies. In addition bitcoin also cannot be controlled by the Government and prone to be used as a tool of crime such as money laundering transactions. and the Government is worrying if society simply using virtual money compared with paper money.

d1ceplayer

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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.

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.

mOgliE

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Bitcoins are not really interesting for the moment for governments, and I guess this is why it is neither legal nor illegal in most countries. If a government wants to legitimate the bitcoin, then it has to admit that transparency is the only option. Most governments are not ready for that. Grin

The current and strange in-between situation allows government to just ignore it. If you want the bitcoin to be legalized, I guess the best way to go is through the people. In most countries, the direct votes made by the population can be completely ignored by the government. Yet, with enough people involved, btc can at least become an official subject, whereas today it is only a “geeky” topic. Cool

ScaryMe

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To be honest to nake bitcoin as your legal money in once country is so difficult, we can see it, and me either can feel it how difficult it is to oublish bitcoin, as of now there is bad news on legalizing it here since there was a news in the philippines that bitcoin is just a SCAM whih is definetly not, it was publitize in television, which i am so disappointed with the one interviewed, because of this some people will make reguse to invest then.

OrangeSeller

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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 have heard that many countries have legalized bitcoin and they are using bitcoin as a regular currency not only internationally but also in their local markets. Like south Africa, japan, India, Vietnam and now the Russia have also decided that in the next year they will also legalized bitcoin.

Then the Russian will also use bitcoin for their needs. I really appreciate this thing that now the world is turning towards legalization of bitcoin.

super5star

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Quote from: Wagako on October 29, 2017, 03:48:13 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.

Yes legalizing bitcoin in one country should consider the number of bitcoin users and investor. It also takes time since there is disorientation about bitcoin and most people in rural areas dosnt connect with bitcoin. So i believe that if we want to legalize bitcoin we should start to raise the awareness about bitcoin to people.

Legalization of bitcoin is going to being lot of good news not only for the bitcoin but also for the ones who will be living in that country. It will help more people to know about bitcoin, which in turn will help them in making their economic condition better. In addition to this, it will also bring a very positive impact in changing the economic condition of the country better. It will no doubt change the lifestyle of the people living over there.

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