in my opinion, why so far many countries have been banned from crypto currency (bitcoin) since each state has encountered the moment how it can be regulated and how we all understand that this is practically impossible, this is a new era for many countries and they are afraid of making mistakes, but just a few years later they will not have to remain options as to the lawful level of accepting it, since we all understand that people will continue to invest in it their own means, whether the state wants it or not.
The only thing I think it will make government to legalize Bitcoin is when it's centralized which I believe it's not going to happen. Many governmental organisations see bitcoin as a first means of scamming people and a way of breaking any country economy down as many individuals may prefer investing on cryptocurrency instead of creating job opportunities in the country which will lead to joblessness of it citizens and crimes will be much.
Topic: What Can Be Done To Make Government Legalize Bitcoin - page 15. (Read 3521 times)
I think first of all they must understand the position of crypto in future world and economics of their countries. The next step must be the population crypto by people in social world. If it become known by every secound person in the world it will be good start.
The government does not have a BTC, but they think the price of BTC is too high, and they are afraid that ordinary people will buy BTC at a high price, so they forbid BTC.
A few nations had been attempting to receive the technology,and the vast majority of these nations are open for the enormous reception for instance japan is completely sanctioned the utilization of cryptocurrencies,you can shop ,purchase anything utilizing bitcoin as a large portion of these little dealers has cryptographic money installment options.I question bitcoin will ever be completely actualized to the greater part of the nations yet a large portion of those nations will most likely going to be late for the innovation couple of years from now.
It is possible that bitcoin will be legalize, but as a commodity asset not as currency. It will happen if it is well regulated by the local government. The government would be very opposed if bitcoin is used as currency, it would mean killing the country. The government must be aware of the many benefits of bitcoin, so if it is well regulated it will be a commodity asset that will be useful for the country.
First of all, concrete steps need to be taken about security. Failure to follow is causing bitcoin to be used in illegal situations. I think that's why the governments have not accepted the law.
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.
I think the importance of Bitcoin Technologies is that it is the easiest way in mode of payments such as Bill, or sending money to other people with the use of our devices (Cellphones, Laptops or Desktop).But we can't deny that some people use this in bad doings such as payment for their drugs, rewards or payment to kill someone because it's transaction is all hide and they can't figured out your identity.
You need to be good and good when using bitcoin we do not want to use the bitcoin to be banned in the Philippines because it is the only people expected in our country because it depends on everything we need in life and dreams
I understand your position in that question, because it is great opportunity to earn money and have nothing common with government. Their system sometimes kill your own business. Harmfull thing as for me.
The government are only fearing the risk involved in cryptocurrency since its anonymous transactions which csnt be traced... If there is a form of regulations swt aside which will make people believe more on it..
The first thing that must be understood by you is, blockchain is different from bitcoin. Not all countries prohibit the banning of bitcoin and then they ban blockchain. This is especially true as nations become wealthier due to legitimizing it while those throwing obstacles become poorer and less influential.
nothing can be done unless an individual is backed by huge audience that he can promote a token for investments.
banks can really be making all these possible but it has to start with ripple and prove themselves to be useful in the crypto space. i think all these will fail when even btc will rise to $20K and beyond yet not legalize, it can still be a failure.
All you can do is express your genuine opinion about bitcoins on social media and other online forums. If more people start investing and benefit from it, government will also start appreciating crypto.
I know that blockchain technology developers and programmers are super intelligent and super innovative. Let blockchain be structure in such a way that scammers and hackers can be fish out easily. then the government will trust in the system and legalize bitcoin.
Funnily enough, world goverments are interested in blockchain technology but not interested in bitcoin. Are they out of their minds?
Go ask a lawmaker politician to invest in bitcoin. Spreading the positive news about the crypto currency will be very helpful to make government minds positive and they will consider that bitcoin will be legal in that country.
Bitcoin is not guaranteed to be legalized because the government does not want a currency form that will be difficult for them to tax, especially if many people do not want to pay their taxes. There are still many developing countries that still want to pay taxes for the development of each country.
I think it is very difficult for the government to accept the existence of bitcoin and melegalitaskanya I think this only takes a long time because the government is still learning about this new currency.
Most of the government see the bitcoin as scam, maybe if other people don't use bitcoin in thier scamming activities I think government will give a chance to bitcoin to be legalized. But since media was very powerful, and there are some acitivities involving bitcoin in scam, government see this as a threat with us consumers so they won't just easily allow bitcoin in the financial services.
As a means of payment, bitcoin to the state is not only not needed, but even harmful. The state absolutely does not need to have uncontrolled virtual money of such a high cost that it is almost impossible to track down and it is very difficult to collect taxes from them. Why should the state have such problems? And after all it is a question of bases of economy of each state - money. In addition, this type of money is absolutely new and no one knows how they will behave in the future. In addition, the states have already clearly seen that bitcoin in December of last year increased rapidly in price to $ 20,000, clearly showing itself as a financial bubble. States do not need such problems. Bitcoin and other decentralized crypto currency are actually needed only by citizens.
What can be done for legalization of Bitcoin by government is an understatement, the government of other counties are joining the Vietnam, Russia governments for legalization already.. Just for the sake of block chain technologies..
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