Topic: What Can Be Done To Make Government Legalize Bitcoin (Read 3521 times)
I think to make bitcoin to be legalize by such government is to build a lawful procedure in every transaction of it. We need to find ways that each bitcoin business transaction has rules and regulations that be uniformly followed by each investors. And by lawful means each transaction is needed to be transparent in every establishment that accepted bitcoin, and it is lawfully taxable business as well.
First of all they need to stop the crimes which is about the cryptocurrency. I believe that the main problem with the goverments the blackmarketing with cryptocurrency. The bad people use cryptos easly. If the goverments find a cure about it everything will be fine and sunny. It is very hard to do with the something you can't count or track but the goverments need to do that for their sake.
I think that until government wants to control everyone they will not accept Bitcoin ever!
Moreover they understand that legalizing bitcoin they will lose a lot in their banking system if banks would not start to produce cards that accept Bitcoin and making money on exchanges when people will pay with these cards.
So it mostly doesn't depend on us.
Moreover they understand that legalizing bitcoin they will lose a lot in their banking system if banks would not start to produce cards that accept Bitcoin and making money on exchanges when people will pay with these cards.
So it mostly doesn't depend on us.
Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
Well, in my own opinion to make the Government to legalize bitcoin is depend on their regulation because some countries see bitcoin as a tool to do some illegal activities thats why they decline it to their country, some country are see Bitcoin as innovation to their currency and because of it they has a chance that their country could improvement in the market.
Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
Well, it's up to us indirectly, I think. The best way to convince one government to see the legitimacy and positive things Bitcoin, or cryptocurrency in general, can bring. If you would just campaign for it with words and without any results to show for it, then I don't think that even if there is an increasing number of cryptocurrency supporters that a government would even consider to legalize it. The best thing is to see that it has this raw potential that they can't overlook it anymore. At least that way, it's not just that they will legalize it, but they will also release funds or do projects to support and ultimately boost it.
We will not be able to force the government to use bitcoin, but to show that we really need bitcoin as citizens we can. You need to continue to buy it, use it as a currency and tell everyone about the benefits of such a unique phenomenon as cryptocurrencies.
I have a lot of research on Bitcoin. And my research is not the end. I want Bitcoin to spread more and more in our country. I want our country to accept Bitcoin. Our government has to be encouraged by accepting Bitcoin. To give good information about Bitcoin. Bitcoin's good aspects should be highlighted. Then I am hopeful that our country will accept Bitcoin.
It is unlikely that we will be able to take any real actions that could convince the government that bitcoin does not pose any threat to the country's economies. Therefore, we can only observe the situation and hope that bitcoin will be accepted in your country.
True no none can convince a government by allowing its citizens to use bitcoin locally won't harm the traditional economical system because bitcoin main purpose is to change that and provide effective and efficient methods but during the process the relevant government will definitely face income losses because most user's can avoid taxes during transactions which cannot be done through traditional system most of the time so what we can do is promote bitcoin as much as we can and let the time decide everything
Any single man can not force any Government to legalize bitcoin. With the passage of time;when more and more people will come to the fold of bitcoin and will start using bitcoin for their payments; then majority of people will raise the demand to make the bitcoin legal currency.
May be then the Governments accept their demand and legalize it.
Also it is possible that Governments issue their own crypto digital currency having certain regulations and controls of Governments then the possibility to legalize the Bitcoin will be very low.
everything is possible there is no one who can know the development of the possibility with the development of the times and technology the government also uses economic systems such as blockchain and cryptocurrencies as assets May be then the Governments accept their demand and legalize it.
Also it is possible that Governments issue their own crypto digital currency having certain regulations and controls of Governments then the possibility to legalize the Bitcoin will be very low.
The bitcoin as a crypto currency is still very young and has not been noticed by all countries so it just need some time until it gets legalized by the country.
Yes you have a point. I think government will legalize bitcoin if they tested and proven the ability of bitcoin in helping the economy. If they also understand why bitcoin exist in our world.
Bitcoin in particular and electronic money, in general, are booming worldwide. The number of companies and countries that accept Bitcoin is increasing, allowing its owners to pay or trade on most of the world. With the popularity of this market, governments are considering legalizing bitcoins in the future.
With the achievements that this technological revolution brings to the world, electronic money is still the word "money", still a form of currency, although they are far from the more traditional forms that children people used to. Bitcoin currency algorithms have been adopted in many countries around the world. Bitcoin is legitimate. It is a fast, efficient and cost-effective way to pay. The characteristics of the decentralized model also make it necessary for governments to make reasonable effort to control this technology.
I think that public authorities are primarily concerned about the security of the economy, so until they are sure that bitcoin is absolutely safe it will not be accepted.
There are many countries now who legalize the use of bitcoin just like in the country where I live, I am so happy that our government is open minded and willing to adapt change for the betterment of the country and its people. I am sure right now, some government are now studying bitcoin and mulling what steps to take.
Governments have the tendency to reject anything that they can't control and cryptocurrencies is one them because they are decentralized. Some governments allowed or legalized bitcoin in tge country but they imposed regulation on the exchanges to control or monitor the flow of bitcoin. Government should open their mind first on the possibility of legalizing cryptocurrencies before making any move to persuade them.
The government only accepts bitcoin when bitcoin fixes it. It facilitates illegal activities like bribes, drug purchases, money laundering and Bitcoin to help anonymous users, so they do not need to pay taxes. But I think this will never happen because it is part of the nature of bitcoin.
The major and the mosr crucial reason because of which many countries are stepping back in legitimizing or legalizing bitcoin transaction, and even talks about banning it is the fact that their is no institutional or authoritive backing behind bitcoin. What if something tremendously wrong happens in the bitcoin world and citizens lose huge amount of funds, who is responsible? Whom shall we complain? Is there any backing or authority against which we can protest? Or atleast ask help with?
This anonimity of bitcoin is making is risky for governments to openly allow its citizens to vest their income into it. Its not only about decentralized thing and that government is doing this because its not being able to control bitcoin, its not like that. Even if bitcoin was, being equally popular as now, backed by some private company, the governments wouldnt have any problem with it.
So the matter of fact is that we at ground level cannot do much except for bring about more and more trust over bitcoin in the market, and may be by seeing huge user base and trust, government might consider legitimising bitcoin transactions.
This anonimity of bitcoin is making is risky for governments to openly allow its citizens to vest their income into it. Its not only about decentralized thing and that government is doing this because its not being able to control bitcoin, its not like that. Even if bitcoin was, being equally popular as now, backed by some private company, the governments wouldnt have any problem with it.
So the matter of fact is that we at ground level cannot do much except for bring about more and more trust over bitcoin in the market, and may be by seeing huge user base and trust, government might consider legitimising bitcoin transactions.
Perfect comment. Even I feel that it is because of the lack of authoritative backing bitcoin is still lagging behind.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I'm not sure that the various governments will ever accept bitcoin at 100% but at the same time, if they're not stupid, for sure they'll understand its potential and also blockchain's potential, and their gonna use it someway. I wouldn't be surprised if in 20 years almost everybody would be using a crypto dollar instead of the fiat/paper dollar. Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
But in my country, they support trading bitcoin but not support as a payment method.
Maybe to make governments legalize bitcoin, we need to use it globally. If most peoples in countries around the world using bitcoin, maybe eventually other countries who banned bitcoin will allow their country to use bitcoin and crypto too.
Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.
in fact, only a few countries do strict regulations on BTC and that is not a prohibition to own it but rather to tell their citizens to be more careful in making transactions with BTC because btc which is anonymous and more btc initially has a slightly negative use, that is to buy something in the deepweb like drugs, human trafficking, firearms, etc., so the way to make the government legalize btc is that we have to change their view of btc which was originally to buy something negatively changed to spend on something good and more useful, and if btc itself can increase the country's revenue better and promote btc as a cryptocurrency trusted by the government
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