Topic: Legalizing Bitcoin - page 4. (Read 5728 times)

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.

In many parts of the world, Bitcoin has been said to be the wealthiest currency in the economy, but in Bitcoin, my country is not accepted, there are a lot of Bitcoin rules, but very few people receive it. These laws, in my state, are pretty much rich people thanks to this currency and sure Bitcoins future will be accepted in my country.

Government want to regulate cryptocurrency market because government want to collect taxes. As we know that cryptocurrency market always growing year by years and its give government to adding more income from crypto trade

It's a good thing, if the country will legalize bitcoin. The goverment can take taxes from bitcoin transactions

If bitcoin will be legaize then bitcoin is taxable.  For sure there a lot from bitcoin will not happy to hear if this is taxable. I heard the tax is a litttle big and the price of bitcoin is unstable.  But so far in my country i dont have news about legalizing or even it is ban.

The governments 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.

I think legalizing Bitcoin is very important especially for some small countries. That is because I think, in my opinion Bitcoin can give that country a little freedom of financial. That is a good thing because the price of Bitcoin is really high if we make it into the country's currency. For example like dollar, that is why a lot of small country and countries in Asia are really crazy about collecting Bitcoin and other cryptos. But that is not just that. Actually, they do not just collect Bitcoin and other cryptos, but since the beginning of the time, they are already crazy to collect dollar, euro, and some of big country's currency by doing international jobs.

It is the most simple yet the most effective ways to make small countries rich. Legalizing Bitcoin in some developed countries will do a great significant because people will start to use Bitcoin as the development of technology. Just like smartphone, drone, website, online business, and free market. Bitcoin is one of the way that give people freedom in the term of transactions and financial freedom. That is why this kind of thing is so important for some middle age people and some poor people.

I do not really understand because my country declared neutral at the G20 meeting may be japan or india country if not mistakenly declare receiving bitcoin, in my opinion if the state wants to legalize bitcoin every purchase using bitcoin taxable may be 0.3% of the price of goods like in market echange if you want to sell and buy crypto.

As in the above quote countries doesn't have intentions to ban the cryptocurrency usage, but they fear because of the features it has got when compared to various other digital assets that has got value in the market similar to stocks, metals and other investments. Being decentralized is the good thing it has got, the same is serving as a negative for the growth and government denies support.

In my opinion, the assumption of some countries is not to consider illegal bitcoin but considers too much bitcoin has risks such as its value easily rise and fall without predictable, money laundering, and others. So urge its citizens not to use bitcoin.
To get state permission in using bitcoin this will be difficult because we know at this time many countries do not allow.

but it seems they have not been able to make the rules in full, anonymity will still happen because we are still free to create as many accounts as possible, but the KYC steps for some important accounts are also indispensable, as well as the right accounts connected to the market. Blockchain technology can make everything transparent, but the government does not like bitcoin, impressed just want to recognize blockchain only.

in my opinion better btc it is legalized and then btc will be introduced among the community so that they do not think negatively about what bitcoin is.

why bitcoin not put in legalizing in all nation,i think must the government should be the one who concederd that bitcoin is the one answered to poverty country and helpfull...There hasn't been a country who said that bitcoin is totally "illegal" those who made some regulations are China, Usa and probably the India, but they didnt said that bitcoin is ilegal, a regulation is something completely different..just remember that China is not killing anyone just because using bitcoins, they are only shutting down some exchanges in their countries, but nothing more....Bitcoin is legal in most countries all around the world because they know that bitcoin prevent the country poverty and helpful to thos who have jobless...

Upon the event bitcoin is legalized and regulated, it is the uncanny milestone that every bitcoin investor and supporter has waited.
There are good and negative effects of such an implementation. As people fear and heavily doubt, regulation brings an end
to anonymous transactions, additional taxes are imposed for service charges and finally the lose of it decentralized structure.
But aside from that, legalized bitcoin also brings into perspective that it's a global electronic currency and is now accepted and
fully utilized. It assures bitcoins involvement and influence in the financial market.

Bitcoin is the good form of money and by using this i am happy to hold altcoin and bitcoin bit i prefer to hold bitcoin in high quantity. Bitcoin is the big issue for the most of the countries they some time bane bitcoin while sometime they promote their own alts so it is good to promote bitcoin and this currency will legal soon then the world will become more fast through this currency system.

Government requirements always make investors obnoxious, everyone is right but not for their sake that affect the innovation. Investors take risks to raise or lower their currency values, so the barriers from the government will break their wills.

Bitcoin is already being legalized in other countries . they use the bitcoin in paying their taxes and hopefully it could be legalized in here in our country. Other country are starting to process about legalizing bitcoin.

Is Bitcoin legal? Don't countries have laws against creating currencies?
Still have a question? Ask your own!

What is your question?
Promoted by Bloom
Get free BLT to create your BloomID.
Unlock the power of a global, secure identity on the blockchain.
Sign Up
49 ANSWERS
William Smith
William Smith, Health Consultant at Medicine and Healthcare (2016-present)
Answered Dec 22 · Author has 278 answers and 97.5k answer views
Bitcoin is not exactly illegal, but it is very difficult to use in a legal manner, and most utilizations will be questionable, if not actually illegal. However, I think the concern about governments shutting down currency is a red herring, at least regarding the US government, which actually subsidized the Ithaca Hours system of alternative currency, via its Vista program. Governments aren’t nearly as emotional about currency as currency geeks think, and the issues they have are much more situational than philosophical. The problems with Bitcoin will largely derive from tax reporting issues and the impossibility of an integrated relationship with the United States’ national taxation authority (IRS). A core element of Bitcoin is that there is no central tracking of transactions (or rules for usage); unfortunately for BC, though, for transactions involving sales of commercial services or physical goods with value of a dollar of more executed via a virtual currency, the IRS specifically requires reporting from the transaction-authorizing entity, via form 1099b. Since there are no controls on usage of Bitcoins, all transactions would need to be considered commercial (commercial will contaminate non-commercial if they’re in the same system), and subject to a $15 per transaction fine, in addition to taxes. There are other alternatives for integrating physical currency (like community currencies) into the overall economy, and bypassing this issue, but I don’t see how they could do it online.

Since they see how the market or economy can go too high that's why they were alarmed that investors even to invest in stocks will depend on crypto, anyways Government should just accept it like what Japan did, it will benefit everyone especially through blockchain.

Those who have positions in government will discuss it well, they will do research about it. They will find the reason why it is true to legalize bitcoin in their country. Laws, rules and regulations will be given, so they will be used in the right way. Legalizing bitcoin in a country is not that easy. It may take years before it becomes legal, once the government makes their decision. This will be discussed at the office of one agency assigned by financing or momey issues.