Topic: The legalization of bitcoin. (Read 5136 times)

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. So legalization of bitcoin depends on the country from its government.

Bitcoin may be legalized in some small countries or regions. We know that gambling industry is legal in several small countries. In the world, the economy and every industry have a close link. If the legalization of bitcoin is certain, it will impact the economic order of those countries, especially the banking industry. This is not willing for most of the world's great powers.

I'm agree. they cannt control bitcoin, just allowing bitcoin. in my opinion.

Yeah I would agree.Its legal or not as long as people believe that bitcoin is a matter of choice that make our profits expanded  and possible to make us wealthy.

What are you saying? How can they control Bitcoin? They are just legalizing or regulating Bitcoin, that means they are just allowing Bitcoin in that certain country they can't still control Bitcoin.

Legalizing Bitcoin doesn't mean they control it, they are just allowing it.

said legal or illegal bitcoin is very difficult because every country has its own rules, but I know many countries that prohibit only do not allow the bitcoin be used as a medium of exchange or a replacement currency.

I absolutely agree with you. That's the we should do.

I have some more ways to legalize bitcoin

 1. Give away Bitcoin
What I've always found to be a great idea is to give people free money. It doesn't have to be much but most people won't pass the opportunity for free money even if it is in a strange new currency to them. There are a lot of different ways to do this but what I normally do is when I'm talking with friends about bitcoin I'll ask if they want some free Bitcoin, then I'll ask them for their phone and download Coinbase and transfer some to them. I always use Coinbase because later if they go home and research Bitcoin and want to buy some, there is a quick button right in front of them to make it easy.

 2. Set up a Poster
I understand that not everyone has as much time to go around promoting insane ideas and trying to completely change the world, but one of the easiest ways of passively spreading the world is to get on Photoshop, or modded paint.net if your poor like me, and design a quick poster. It doesn't even have to be something nice, just add some explanation of blockchain technology and a few stock images and see what you can come up with. This is one I spent about 15 minutes with and I literally just picked up two random images from google and gave some basic insight into bitcoin.

 3. Educate People
A lot of people associate bitcoin with either a lot of buzzwords that nobody seems to understand or an overly simplified way of saying it, "it's internet money,"and it really draws them away from the space. What we need to do is draw people by telling them how interesting Bitcoin really is, and there's not just Bitcoin there's an entire market where you can make thousands in a day by just making smart investments. If you have the time and courage, go do a class at your community college, if you don't that's fine. Just think of some great way to promote great technology.
So these are some easy ways that you can promote Bitcoin in your community, thanks for reading, don't forget to upvote.

I feel that legalisation of bitcoin will take us back to to what we are trying to run away from. The government will still have control over it just like the FIAT money.

the legalization of bitcoin is still not comprehensive in many countries. including my country, I hope the government immediately legalize bitcoin so as not to miss the countries that have legalized bitcoin.

the legalization of bitcoin is still not comprehensive for all countries. bitcoin is still illegal in many countries. but bitcoin legalization is improving. the more countries that legalize bitcoin.

The thought is great however the usage is outrageously intense. Since the majority of the islands are controlled by the administration. Regardless of whether the pitch it to the gathering, they won't permit to present your own legalities there. The gathering will even now need to act inside their lawful system.
Likewise I trust, bitcoin isn't generally a smart thought for exchanges. It is extremely moderate and exchange expenses is additionally high which makes it a speculator's cash. By and by I like to execute in fiat rather than bitcoin. Since bitcoin has immense upside potential which makes it an alluring speculation resource.

Actually, bitcoin in the Philippines is not fully legal, but you can freely do bitcoin in the Philippines. Bitcoin exchange services were being registered with the Central Bank of the Philippines.  Thus, bitcoin exchange services are authorized to deal with banks. This is much better than legalizing bitcoin. Hopefully, even if bitcoin will not be legalized in our country, we can still freely do bitcoin transactions. I am not hoping for bitcoin to be legalized, but I am hoping that people will not be deprived to use bitcoin in their country for them to make their life become better.

Evry land now is own by evry country and government we  can't do such a thing are we going to  make in artificial  land  just like China did in spratlyst if ever bitcoin has legalized I don't think that the government don't getting on it a big tax will apply for evry crypto earner

There is no fun in finding a place where we can legalize the bitcoin because so far we have been living in our respective countries with our needs and demands being met here, so it will be better if our countries start legalizing the crypto currency just like the Mexico and the Philippines so that we can get those advantages here from the bitcoin.

We can also participate on different platforms to support this currency so that people can get more knowledge about it and also that governments should also start thinking about this step.

Although your idea is very difficult to appear. but I like it. If we have a place independent of the outside world and all the transactions on it use bitcoin. Then bitcoin really becomes currency like dollars and other currencies

This idea with the island etc. is sooo idealistic and remote from the reality. And I don't see a point of gathering people, buying island, collecting funds and so on. Too much fuss that will end up in nothing. It's easier to move to a country where BTC is legal.

I agree, it seems a fantasy island. I'm sure that bitcoin or other cryptocurrency will be in the mainstream in the near future. Once bitcoin or other cryptocurency will be accepted and utilized by many merchant, our economy will probably going to fully engage in the digital currency. That will be the time Government will legalize cryptocurrency (legitimate only .

if only those bigger countries around would accept bitcoin if what it is and serve its purpose as a currency i think the value would be huge and it can really help economy but government will make sure that it will be favored them whenever they will start regulating and accepting bitcoin from their country.

Every country has its own laws and they are the one responsible in legalizing bitcoin and they know the consequences of legalizing and the benefit they can get with it and when they made that law we have no choice but to obey it.

It is not going to happen first of all every single island is already own by a government and you are not going to be able to create your own government out of it, believe it or not some people have already tried to create their own islands in order to create their own country that can be really expensive and at the end it's not going to work because another country will just appropriate the island.