Topic: The legalization of bitcoin. - page 8. (Read 5119 times)
Its very complicated, some or most government are against Bitcoin and in order for your idea to succeed we need the help and support of the government but because government are not very helpful unless they get a cut from the blockchain transaction then this idea will surely just an imagination.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I agree with your idea, but the endorsement can only be done by the government and the result of deliberation from government banks and bitcoin representatives in the country, new bitcoin can be legalkan.
Anyhow however.. it's not easy to do, if we're just the ordinary people who are still dependent on government regulations.
I myself haven't been able to thinking that far to makes such an effort, still unreachable to my mind personally. And I think it seems like if it really intends to doing that, it would be really takes a very hard effort.
I myself haven't been able to thinking that far to makes such an effort, still unreachable to my mind personally. And I think it seems like if it really intends to doing that, it would be really takes a very hard effort.
You are basically saying that you are creating your own government in a piece of land. From what I know your proposal seems to be far from happening as everybody is now a citizen of their respective countries, and yes there are thousands of islands yet to be explored out there how can you build your own functioning government out there with no internet and worst of all no means of having a sustainable life? You must have think it through before you have posted such question. Even legality of Bitcoin seems to be not an issue anymore.
That's off the chart idea. You can't just hold any island out there as all of them will be ruled by next government present nearest to that land. For example if it is in western Pacific Ocean then it is most probably under the rules of USA while the islands in the eastern Pacific Ocean would be under the territory of India. So you go anywhere in the world you will have to face the legislation first to acquire that particular island. It is good idea but bitcoin is not that powerful to get you island as government should accept that particular currency that is bitcoin to let you buy it. It seems to be complex idea and may not be possible at this point.
Bitcoin legalization or adoption in these countries has been seen as a triumph for the digital asset it may say less about the potential so far opinion on bitcoin and other digital currencies tends to vary from country to country while some are considering various forms or legalization others are either denying it existense or looking for ways to crack down on the coin the most recent positive case is the Philippines which is reportedly preparing the legalization of Bitcoin through regulation 
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I don't think that will help as easy as we are depicting it here. I mean just imagine about the whole procedure for acquiring those islands. You will first need the government evaluation of the property and put some extra efforts in acquiring it first. How would you tendor that much money in first place and also why anyone would want to contribute to that piece if you don't have the legal possession in first place. What I mean is, you will have to purchase it from the government first and then you can do the further business the way you want it. But you will be taxed double, once for buying and second for selling. Lolz. That would be costly affair and dint know how everyone will react upon it.
but do we need legalization in general? this is why it was invented to ensure decentralization and anonymity in managing your finances. I think this policy can lead to a slowdown in the development of bitcoin.
According to a recent report, IT ministry officials, Finance ministry officials, Reserve Bank officials, and NITI Aayog officials committee will legalize the virtual currencies in India soon.
The Government of India is finally thinking over the Bitcoin and other cryptocurrencies as these digital currencies are gaining popularity in the financial market and becoming a hyper-growth investment.
The Government of India is finally thinking over the Bitcoin and other cryptocurrencies as these digital currencies are gaining popularity in the financial market and becoming a hyper-growth investment.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I think it's about time that they make bitcoin legal. I mean there is nothing wrong with bitcoin. Even some of the countries like Japan have already legalized and implemented it. So, I don't see anything wrong in using bitcoin.
Good to hear that, this will cause a good images of bitcoin and become popular in the future. Bitcoin is very beneficial on user cause it gives an opportunity in earning money using this, just like what happen in some countries (australia, japan, south korea and etc.) that their economy was already accepting the bitcoin due to the profits and income by the country.
That is coreect, bitcoin has helped a lot of economies like you mentioned without a legal backing whatsoever and so we don't necessarily need any legalization for it to become effective in our day to day lives.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
Somehow, I don't want bitcoin to be legalized. The problem will be the government. I'm sure that they will implement tax on bitcoin if it were to be legalized. So, the problem is a lot of bitcoin will go to the government and not to the users anymore.
Legalization is a very long process, we ard talking here about the whole world and not with a single nation. It is very hard but let us just take it in the positive way. May the legalization make BTC becomes useful and popular.
Many Asian countries have legalized it but again some of its big supporters like china and Russia have made some move against it in the past while they were big supporter of it once so it is difficult to say who is going to legalize bitcoin and who is not. Also, nobody knows for how long will a country support this currency but many businesses are accepting it and it has been praised by all great tech tycoons. The love of people for bitcoin is increasing and that is all what mattersThey have not stopped its usage yet and can be used as long as it is P2P, and hopefully if the regulations of the exchanges get concluded, it would be a good thing for the people, the country and bitcoin community. But one thing for sure is that bitcoin's growth is not dependent on their decisions as it would still grow anyway.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I think it's about time that they make bitcoin legal. I mean there is nothing wrong with bitcoin. Even some of the countries like Japan have already legalized and implemented it. So, I don't see anything wrong in using bitcoin.
But other countries, they know well what are the advantages bitcoin is taking along with, still just the decentralized feature of bitcoin is hurdle.
some countries are legalization bitcoin it's enough for me.. I do not really hope bitcoin can be legalization in my country, during my country not banned bitcoin eventhough the goverment not recognize bitcoin and I still can using bitcoin it's no problem..
For me, there is nothing to afraid of making it legal. Because with this, it could give additional trust and confidence to the people who are investing bitcoin. Even though it happens that bitcoin is being legalize, it doesn't mean that the goverment will take control of bitcoin. Still bitcoin is decentralized.Then the Russian will also use bitcoin for their needs. I appreciate and submit that now the world is turning towards legalization of bitcoin.
If bitcoin being legalized it means that they control bitcoin so it will affect bitcoin paradigm as decentralized currency.
There is pros and cons for legalization but overall it's also keep bitcoin popularity getting increase
No one could control the bitcoin network but any government could control the flow of money going out of their country and that is how these legalization works too,they monitor the flow of money to bitcoin by controlling or keep a tab at the exchanges running in that particular country and taxing the users on the process. There is pros and cons for legalization but overall it's also keep bitcoin popularity getting increase
Even though the idea is utopic I liked it. In my opinion If you consider doing it seriously, you should in the first place publish your plan on how to do it and clarify those needed legal and tax requirements because no one will follow you and will tell you what is needed to do in order to make it. So if you publish an article and convince people on how this is possible to be done the idea takes a different level. As an example, telling people where this inhabitant island is, how it can be bought, who holds its shares, ... can be helpful on taking the idea in next step.
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.
More likely, who cares if bitcoin is declared or not in each of everyones country, we can use it as long as we are not violating any rules of the law and we are not harming any one.
The idea is fantastic from both points of view. I mean it is really cool, but on the other way, there are 99 chances from 100 that it will be not supported. Besides it, Bitcoin legalization can lead the cryptocurrency market to the situation when BTC will start falling dramatically.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I think it's about time that they make bitcoin legal. I mean there is nothing wrong with bitcoin. Even some of the countries like Japan have already legalized and implemented it. So, I don't see anything wrong in using bitcoin.
But other countries, they know well what are the advantages bitcoin is taking along with, still just the decentralized feature of bitcoin is hurdle.
Do you think if we create an initiative group for the legalization of bitcoin. To find uninhabited island, to announce the collection of funds for its acquisition. Everyone who contribute will receive a piece of this island. Based on the state of Bitcoin official currency of this state to make a bitcoin. Do you like this idea?
I think it's about time that they make bitcoin legal. I mean there is nothing wrong with bitcoin. Even some of the countries like Japan have already legalized and implemented it. So, I don't see anything wrong in using bitcoin.
Also, according to the OP, even though his idea sounds nice, it is impossible as you cannot just go to a country and start imposing laws when they already have theirs.
Different countries have different laws and rules, The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.Whilst the majority of countries do not make the usage of bitcoin itself illegal (with the exceptions of: Bangladesh, Bolivia, Ecuador & Kyrgyzstan), 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.
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