Legalizing Bitcoin - page 8. | Bitcointalksearch.org

resty

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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.

First of all legalization of bitcoin means it is beinh taxed by the government and it is regulated. If we look on the positive side bitcoin can help our economy and every individual in a certain country because of its tax. On the other hand normal bitcoin users will not be able to be like they are before and cannot get what they can get before for it is being limited by the government. Therefore it is not only positive but has negative too..

Hasbro27

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I think bitcoin is better on legend because the government can get taxes from bitcoin, because the current bitcoin transacons are very large and bitcoin prices are also getting more expensive. so the state can benefit from bitcoin by legalizing it

Kevin77

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Quote from: a4techer on December 12, 2017, 09:58:48 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.

We hope so that bitcoin be legalize to all country's even in our country because right now bitcoin was illegal here in my country and they broadcast to all television and radio program that if you are joining in bitcoin they well arrest you so thay many of the bitcoiner was afraid on what happen. So that we hope the government officials was declared bitcoin legal in my country.

Well, for now we just have to keep hoping. However, we need to also understand that the government not legalizing it does not make bitcoin unusable. Bitcoin is already a huge part of the system and it is doing pretty well for itself while the government already recognized it and that is why in some countries, taxation is already occurring.

Hence one way or the other, bitcoin to me has been legalized in most places and it does not have to be until the government of each country has announced it.

KrisAlex18

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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.

We all know that bitcoin is not yet legalize in all the countries of the world and the use of it is not that fully spreaded yet. One of the things that the government may do to help bitcoin is to accept blockchain technology and don't stop their people from using bitcoin. Through this way, inches by inches, bitcoin will make its way to being legalized and will be accepted by people since it brings convenience and money to everyone.

Supercrypt

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Quote from: Emitdama on December 12, 2017, 08:03:20 AM

Quote from: shark69 on December 11, 2017, 11:19:11 AM

to legalize bitcoin I think is very difficult. because bitcoin is a crypto currency, while the legal one is fiat currency. especially with countries that disagree with bitcoin.

If some countries are showing disagreement for bitcoin then it does not mean bitcoin is not at the top and it will not affect the price and the importance of bitcoin. In my country bitcoin is high and the demand of bitcoin is high because of high use and huge level of investment so if you are a part of bitcoin you are good and just think positive because soon only bitcoin payment will be acceptable in all countries.

Legalizing or not legalizing, bitcoin has been doing well. While some countries did not state it as a legal entity, but they classified it as a commodity which is taxable. So far everything went good, some countries are already taxing bitcoin and I do not see what else they really want to do worse than to keep up with the tax.

Legalizing however, is more like an official statement which I believe will create awareness for bitcoin but bitcoin in itself is so gallant enough to create awareness by itself.

erasheed28

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I think it will comes down to the wallet that they could use to cash out the cash they received from bitcoins including its gains so they could assess the tax because if they put some regulation at the start which is the ico i think it will be unfair for the investors and bounty hunters.

4U

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Quote from: ajdaj on December 12, 2017, 04:33:34 AM

I believe that bitcoin can not be legalized. This will attract the underworld and they will start to earn it. The perpetrators will start using bitcoin in their own interests, and this is not good.

It’s a very positive thing and as we know that some countries have made bitcoin legal and still there is a possibility that bitcoin can be legal in some more countries and recently there are two countries who join bitcoin and within six months they make bitcoin legal so I believe next year more countries will also do same like these two countries because world realized that bitcoin is very important for their economy so it’s important to make bitcoin legal.

bitllionaire

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Quote from: Sled on December 11, 2017, 09:05:33 AM

Quote from: stevano on December 11, 2017, 12:50:48 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.

to be profitable then the country should make its own coin which is used to transact daily in the country, if so I am sure the country will also get the benefits

The governments are not required to make their own coin because they can just study the existing cryptocurrencies in the internet and accept it and make it as a fully legalize cryptocurrency or another form of money. It will be easier for them since they are already existing and they have a lot of different projects that the government can get benefits.

Every government is not as generous as Japan’s government. There are certain set of rules to be followed by the currencies creators (which usually are countries) and by the users of the currency. It is not easy for any government to allow a cryptocurrency as a legal currency because government always demands for the identity of the person owning a currency also government demands for the proof of the currency one has to be proved as white i.e. not earned though any unfair means.
Government always want a command and control in its own hand instead of anyone else, cryptocurrency don’t meet this requirement of government which makes it challenging for the government to legalize it.

Sweeet123

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Quote from: Dexter44 on October 28, 2017, 02:27:10 PM

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.

Absolutely correct,most of the countries across of the globe haven't taken a firm stand for or against bitcoins, they are just speculative about it

raven7886

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Quote from: ajdaj on December 12, 2017, 04:33:34 AM

I believe that bitcoin can not be legalized. This will attract the underworld and they will start to earn it. The perpetrators will start using bitcoin in their own interests, and this is not good.

How will legalization of bitcoin ever have an effect on any of this ?
Bitcoin in itself is enough to attract any evil perpetrator without the government being involved. Also, if what you are referring to is the government or some of the top guys hitting into the show, then, I do not see how that has anything to do with legalizing bitcoin as they can still do that anyway.

Legalizing bitcoin to me will create awareness, and that is all that it is to it.

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Quote from: martina14 on December 14, 2017, 03:16:18 AM

Bitcoin is legal in most countries, those country who banned bitcoin or dont want to be done there are those country who want to have their own cryptocurrencies. why? bitcoin is not control by any one theres no company or what every person it is just mined and out i the market unlike other coins that are funded and organized. they want to tax crypto thats why

They cannot tax cryptos but they can tax us for using cryptos for our benefits, if there is a specific law then we have no choice but to follow, otherwise we will not gonna enjoy using bitcoin. The moment we convert our bitcoins, we need exchanges to be able to do it, and since they are the government who has the power, they can make a law dictating the exchanges to supply information to them on their clients, so they can match and require the necessary taxes.

martina14

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Bitcoin is legal in most countries, those country who banned bitcoin or dont want to be done there are those country who want to have their own cryptocurrencies. why? bitcoin is not control by any one theres no company or what every person it is just mined and out i the market unlike other coins that are funded and organized. they want to tax crypto thats why

gabmen

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Quote from: Rhosadah on December 13, 2017, 09:57:56 PM

There will likely be more legal precedents set in the next few years around the digital currency. Today many countries have discussed major legal issues surrounding Bitcoin, and the legality of Bitcoin by 2016 in many countries.further legal developments in the next few years are likely to occur both for the good and bad of Bitcoin and other cryptocurrencies.

Well.i think it's normal and its necessary with the growth of btc. For the user's security as well. And in the long run, some of these developments and regulations can help maintain a healthy crypto market.

Rhosadah

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There will likely be more legal precedents set in the next few years around the digital currency. Today many countries have discussed major legal issues surrounding Bitcoin, and the legality of Bitcoin by 2016 in many countries.further legal developments in the next few years are likely to occur both for the good and bad of Bitcoin and other cryptocurrencies.

Bitcoinjheta

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Quote from: chuongvannguyen02 on December 13, 2017, 08:33:11 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.

Hard to find anything from bitcoin and if bitcoin tax is hard to know who owns it so if you tax the floor then some countries have no trading floor.

I think it's very hard here in our country to legalize bitcoin because aside from the legal issues it may encounter, we don't strong internet connection that is necessary to run bitcoin smoothly. Because, how can the government monitor its transactions if they themselves doesnt have the facilities to do so?Another thing that can hinder it to be legalized is that people will not sippprt it because for sure it will be taxed and that means lesser income to us bitcoiners.

chuongvannguyen02

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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.

Hard to find anything from bitcoin and if bitcoin tax is hard to know who owns it so if you tax the floor then some countries have no trading floor.

salihno71

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As the adoption goes up, so will the issues around the cryptocurrencies need to be addressed one way or another. My guess is that there will be one or (more likely) more solutions to the problem which will be widely adopted by the governments worldwide. We will have to wait and see.

Kizaki

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Legalizing such currency thats not from the government and just from rich and some regular people would be hard there will be tons of process and waiting time and consideration thats needed to be evaluate but it will come by time

ronics

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In all major bitcoin countries it is sometimes legally or illegally encrypted and others declared that it is illegal that most of them are actually accepted or they are really going to promote their own alts.so how does our governments require regulating the bitcoin in our country .and how the government actually benefits from legalizing bitcoin I our country. How to support the economic system in the country. And the crypto currencies in the country have been so violent that it is difficult and it depends on the crypto currency and bitcoin imployments..

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Quote from: Lewis_Ham on December 12, 2017, 03:27:47 PM

I think bitcoin will not legalize, it will not be influenced by only a few people, no one will be able to control

Bitcoin is now legal to Japan, https://www.cnbc.com/video/2017/11/06/japan-made-bitcoin-a-legal-currency-and-now-its-more-popular-than-ever.html
Bitcoin is decentralized so that's given that no one is able to control everything about it but the government can give regulations to guide people who are using it.

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