US or China: Who do you think will legalize bitcoin first?

pixie85

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Quote from: teejayrichard2 on March 08, 2019, 05:44:18 PM

Observing the two countries closely, I believe China will legalize bitcoin first before US. Unlike US, China isn't hat strictly when it comes to adopting technologies. US on the other hand will want to make so many analysis first before legalizing it so her citizens won't end up investing or using something they will later regret. So I believe bitcoin will be legalized in China first before US.

What are you talking about? The race is long over.

In china you can't use bitcoin and financial institutions are still banned from working with bitcoin businesses.

In the US you can pay taxes with Bitcoin. Some politicians said they are holding. Starbucks will work with Bakkt to give you easy payments. There are ATMs in many places.
It's not even a race anymore.

teejayrichard2

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Observing the two countries closely, I believe China will legalize bitcoin first before US. Unlike US, China isn't hat strictly when it comes to adopting technologies. US on the other hand will want to make so many analysis first before legalizing it so her citizens won't end up investing or using something they will later regret. So I believe bitcoin will be legalized in China first before US.

Pab

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Bitcoin is legal in China.Trading is illegal that is all
But citizens can own bitcoin and pay if there are merchants what are accepting bitcoin

In a case of USA bitcoin is not recognized like money but if find merchants what accept bitcoin you can pay with bitcoin
We have futures based in USA and US exchanges with big volume so for sure bitcoin is not illegal in USA

qiwoman2

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I think China will but albeit in an indirect kind of way. The US is taking forever to allow US investors to invest in ICOS among other things and they haven't yet approved an ETF either. I know the Americans want the U.S to legalise and regulate Bitcoin and crypto in a much faster way but I believe they have a hidden agenda in taking their time to do so. I think smaller countries like Malta, Switzerland, and Singapore will take the leap of faith forward and other countries as well like Dubai who are already going to even put their Government on the Blockchain. In Dubai you can buy luxury apartments in Bitcoin as well now, among other luxury items for sale there of course.

GreatOrchid

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China always goes for their own commodities and so can be the case with cryptocurrencies also. Few months back i heard that china banned the Initial Coin Offerings and some of the major cryptocurrency exchanges. Also china banned some of the huge mining farms. As compared to US, they are really much more ahead in terms of cryptocurrencies. They also have a lot of crypto holders amongst them most of them HODL bitcoins. Also most of the ICO projects are been started by US citizens so i think they can legalize bitcoins before china does.

kalstarzz

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in my opinion the United States has more potential to legalize bitcoin than China, we can see it by comparing every economic decision made by the two countries, the US is always one step ahead of China.

mahibul49

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i think both country will legalize bitcoin in near future but prediction is really tough because there are many challenge this two country will face.in my opinion i can say USA will legalize bitcoin first.

pant-79

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I think that countries will gradually legalize cryptocurrency. Which of the above countries will do it first I don’t know. Most likely this will be the United States, since the form of government that is now in China and those people who are on the board of the country are not interested that citizens of the country have access to free trade in crypto currencies. The fact that the countries in the future will create their own cryptocurrency, I have no doubt.

iqlimasyadiqa

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Both have the opportunity to become one of the countries that will legalize bitcoin. as we know that the development of technology in both countries is very good so it is very possible that the people in that country will fully support the use of digital currencies in daily financial transactions. with a very large number of people, of course, what happens in the USA and China will affect the development of digital currencies globally. the number of digital financial transactions from these two countries is on a very high scale.

CryptopreneurBrainboss

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Quote from: BitcSeo on January 12, 2019, 08:01:19 AM

None, because both countries think's that bitcoin will affect the circulation of their currency.

+1
Socking but this is just the truth. None of them will legalize bitcoin. They see it as a threat to their economy. No government is willing to give back power to the power unless we are ready to take it back by any means. I don't see any of the above countries accepting bitcoin any time soon.

mersal

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Quote from: shoreno on January 12, 2019, 08:53:17 AM

Quote from: BitcSeo on January 12, 2019, 08:01:19 AM

None, because both countries think's that bitcoin will affect the circulation of their currency.

Thats not true . if we look them closely we can easily tell that china is more strict compare to u.s thats why u.s will first legalize bitcoin and infact bitcoin is already legal in the u.s because u.s is the first country that discovered crypto ( if im not mistaken ) because satoshi is also from the u.s .China in a nutshell is already restricting cryptos before but i dont know if they are now allowing it today since its been two years after they announce the banning .

Legalizing Bitcoin is very toughest job because we cannot do anything for the legal prement it can be only approved by the government of each and every country this will be happen at any time but you have to definitely wait for the future.

virasog

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Quote from: shoreno on January 12, 2019, 08:53:17 AM

Quote from: BitcSeo on January 12, 2019, 08:01:19 AM

None, because both countries think's that bitcoin will affect the circulation of their currency.

Thats not true . if we look them closely we can easily tell that china is more strict compare to u.s thats why u.s will first legalize bitcoin and infact bitcoin is already legal in the u.s because u.s is the first country that discovered crypto ( if im not mistaken ) because satoshi is also from the u.s .China in a nutshell is already restricting cryptos before but i dont know if they are now allowing it today since its been two years after they announce the banning .

Do not consider the current market situation and who is doing what in terms of crypto currencies. Once the crypto is more popular both china and US will be bound to legalize it. All the current bans and regulations will be removed as there will be no option left but to accept bitcoin if they want to survive the financial market.

Johnzky

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Quote from: Sherwood_Archer on October 13, 2018, 12:40:59 PM

Just curious which one would be more accepting of bitcoin or any cryptocurrency for that matter. China nowadays seem to headline a lot about artificial intelligence and other technology. They are also promoting a cashless society. So I am betting on China.
Feel free to contradict. This is just me overthinking. Maybe, neither would even legalize it in the future. Or perhaps countries would create their own crypto?

I believe that state of Arizona in US are accepting bitcoin in their judicial payments(correct me if i am wrong)and there is another one that i forgot,what i mean here is america seems to be more open in accepting bitcoin and cryptocurrency than china in which we know that expert in pirating so theres no impossible if they can imitate crypto

rodel caling

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Quote from: shoreno on January 12, 2019, 08:53:17 AM

Quote from: BitcSeo on January 12, 2019, 08:01:19 AM

None, because both countries think's that bitcoin will affect the circulation of their currency.

Thats not true . if we look them closely we can easily tell that china is more strict compare to u.s thats why u.s will first legalize bitcoin and infact bitcoin is already legal in the u.s because u.s is the first country that discovered crypto ( if im not mistaken ) because satoshi is also from the u.s .China in a nutshell is already restricting cryptos before but i dont know if they are now allowing it today since its been two years after they announce the banning .

At this moment bitcoin in both country aren't totally banned in own understanding US and china want to regulate bitcoin that't reason why bitcoin as currency. Difficult to rell which of two country be the first legalized bitcoin without any regulation or approval feom the central bank of wach nation.

aad140386

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Difficult to say, to be honest. I have already thought about this question, but I have no definite answer. In China, there is a tradition to create something of their own, and not to accept someone else's. They successfully copy the ideas of other countries, but still try to create their own product. This applies to everything. From the Alipay billing system to mobile phones. And for some reason it seems to me that China can do the same with cryptocurrencies. Release your cryptocurrency and legalize it only in China. In the US, it is becoming more democratic, but the bureaucratic apparatus of the old farts may have been considering the issue of legalizing cryptocurrency for years.

shoreno

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Quote from: BitcSeo on January 12, 2019, 08:01:19 AM

None, because both countries think's that bitcoin will affect the circulation of their currency.

Thats not true . if we look them closely we can easily tell that china is more strict compare to u.s thats why u.s will first legalize bitcoin and infact bitcoin is already legal in the u.s because u.s is the first country that discovered crypto ( if im not mistaken ) because satoshi is also from the u.s .China in a nutshell is already restricting cryptos before but i dont know if they are now allowing it today since its been two years after they announce the banning .

BitcSeo

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None, because both countries think's that bitcoin will affect the circulation of their currency.

tytanhamon04

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Quote from: sidebyside on October 13, 2018, 01:18:29 PM

I think China will soon be legalizing bitcoin in the future. I realize that there are many bitcoin investors coming from China although this country does not support electronic money. Many factories to exploit bitcoin are built here. From here, I see that the Chinese government may soon be legalizing bitcoin.

I agree with you but only partly, you say that in China there are many miners but as everyone knows China does not support this direction and has already closed a large number of enterprises.

teejayrichard2

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china most definitely will. observing the two countries close, you notice China is more open to things than the US as they easily welcome technology and innoations. Though the may legalize bitcoin, no one knows for certain

adzino

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Quote from: ?? on ??

I will place my bet with the US, they are open to discussions, they just need a more healthy environment for their i
nvestors,which is a good thing considering the level of insanity or scams that abound in the space.China on the other hand are not even ready to discuss its merits or giver her citizens a chance to make their opinion known.

Wouldn't be surprised if it ends up being totally the opposite. The US might be thr rejecting the approach of bitcoin, where as the Chinese goverment would accept it either through strict regulation or through free flow. The Chinese government will always want to stay ahead of everything by any means.

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