If bitcoin being legalized it means that they control bitcoin so it will affect bitcoin paradigm as decentralized currency.
There are pros and cons for legalization but overall it's also keep bitcoin popularity getting increase
Topic: The legalization of bitcoin. - page 10. (Read 5119 times)
The legalization of bitcoin nowadays is not yet implemented throughout the world. Some country's were already legalized through paying transaction. I would say that by legalization it will take time, the congress of the government will discussed in several sessions they must study first, if it will be fit through the economy in the country. Also, other government agency will obliged to approved. Soon, it will be implemented as the time passes by due to the value of bitcoin is increasing.
In our country, bitcoin are accepted as a mode of payment in different things by our national bank. I think it will be accepted as days go by.
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.[1] Whilst 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. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.
Legalisation just means regulation. Why do you want that? Maybe the correct work is recognition.
I think that bitcoin does not need to be legalized. Legalization will lead to the loss of anonymity and bitcoin will lose the demand of most users that in time will simply depreciate it.
Who cares if bitcoin is declared legal or not in your country? I'm not using bitcoins because my government said it's OK I'm using it because I can make my own decisions with my own money.
Yes you right. But remember one thing, when a country start to decide to make bitcoin as legal currency it will give bitcoin one step to become more popular and impact its increasing price.
Yes it is, it may gained more users of the tokens which may inceease the value of bitcoin soon, even though most of the country for now is not yet recognizing bitcoin I think soon it ia possible to see that they may slowly thinking to legalized it in each country because it may also increase country's economy since it can contribute a lot in terms of money, but if bitcoin has been legalized worldwide we should be ready in the taxes it may acquire.
Economic and financial experts say that virtual currency is becoming increasingly popular in the world as well as in Vietnam and will thrive in the future as it easily overcomes the control of financial systems. of governments. This will create favorable conditions for money laundering, consumer risk and other issues.
Bitcoin has been considered as a payment currency in a number of countries like Japan, USA but at a limited level. In the future may be more popular. If bitcoin and virtual currency are the means of payment of goods, it is only the first step. Considering Bitcoin and virtual currencies as a payment method is inevitable. "
Bitcoin has been considered as a payment currency in a number of countries like Japan, USA but at a limited level. In the future may be more popular. If bitcoin and virtual currency are the means of payment of goods, it is only the first step. Considering Bitcoin and virtual currencies as a payment method is inevitable. "
i guess even if we say that we would find an island, as long as the government is there, we coild not pass that eaily or just take that island immediately, as the law was being handled by the government, and it is obviously once we want property or something like that we need to pay it or we need to buy it or rent if possible. The government also wants to have their own share of that property because they would claim it as theirs when it is not yet owned by someone.
It is simple, if the Bicoin community wanted to conquer the entire world, they need the government approval for that. Else Bitcoin will be banned and not allowed to be transacted in their country. If this happen, bitcoin will never be on mainstream if it is not approved and legalized by government. Whether we like it or not Bitcoin needs the government for its passage through greatness.
i guess even if we say that we would find an island, as long as the government is there, we coild not pass that eaily or just take that island immediately, as the law was being handled by the government, and it is obviously once we want property or something like that we need to pay it or we need to buy it or rent if possible. The government also wants to have their own share of that property because they would claim it as theirs when it is not yet owned by someone.
I think bitcoin can not free itself, bitcoin need government that will guarantee bitcoin continuation, with bitcoin legality in every country better make bitcoin..
Thats not as easy as your speaking here. Letting government rule the bitcoin will make the bitcoin centralised asset for which government may levy different taxes and being trading asset it will have heavy taxes to acquire. There will be one more issue with this governance and thats the mining industry might just collapse. Just imagine mining is nothing but bitcoin printing machines according to government and that would be their potential target so they will start levying lot of amendments to make it more centralised. Currently anyone can mine from the home and I doubt if this will continue or not.
Bitcoin would be just another currency if they start regulating it and there are chances the price of bitcoin will fall to cents because nobody will like to get paid bitcoin with taxes and other charges. They will stop investing into it and that would be fall of bitcoins.
So you are hoping for the creation of an independant state because of Bitcoin on an island. This is impossible for the sole reason that no state will leave sovereignty over a piece of its land, so except if your plan is to buy a whole country that will not be feasable.
Although paying taxes is a liability but it seems objectionable if you have to pay income tax payments if applying about 45% of the monthly results. I think this geman government is less wise in regulating and managing income tax rules.
Paying tax from our earnings in bitcoin is a positive for me because even though there will be a less in our earnings, we can still have a good legalized currency in our country and that is bitcoin which in Japan they can use it to buy things in their country and paying tax is still a good side for me because we can help our country to improve itself by just paying tax.
As long as the tax rates are reasonable, I don't have an issue paying them. But look at nations such as Germany. They have income tax as high as 45%, and on top of that the indirect taxes are also high. The VAT for most of the common goods range from 20% to 50%.
All the islands already belong to some countries and the legalization of bitcoin will scare away many users. It's used mainly because of anonymity and lack of taxes. The idea is doomed to failure.
The legalization is not as bad of an idea as you make it sound, if a country makes it legal, that does not necessarily mean that they are going to charge you taxes on it, there are some tax haven that were interested in getting in the bitcoin market and charge no taxes. I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.
I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?
I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.
I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?
I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.
I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?
I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.
I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?
Every country has their own law and so is the case with Bitcoin . Few countries have legalised it while some are I. Process of how to bring this under purview so that it can be monitored and legalised as well. How does it benefit economy and citizens of the country is also what government takes into consideration .
exactly that why bitcoin not legalized all over the world because of the law and policy of every country when it comes to bitcoin. Government will legalized it if they complete know the advantages and disadvantages of it. They also first look on the possible effect on it. Government have many consideration because they make sure first that it will have a good effect to us people who is living in one particular country. Jump to: