Topic: What Can Be Done To Make Government Legalize Bitcoin - page 19. (Read 3521 times)
make the rules by taking tax for every bitcoin transaction, but not too high so that bitcoin users do not really mind. such as a fee of 1% for each bitcoin transaction, and funds allocated for development of the country.
Aside from mass adoption, another reason for the government to finally legalize bitcoin is to protect users from any scam or theft. Or perhaps to implement a tax of some sort.
Actually that is true. I just read couple days ago that IMF thinks that cryptos may bring down banks. They are afraid, very very afraid.
Go ask a lawmaker politician to invest in bitcoin. Better yet, apply as a consultant for this cryptocurrency thing when the bill is filed for bitcoin to be regulated.
Go ask a lawmaker politician to invest in bitcoin. Better yet, apply as a consultant for this cryptocurrency thing when the bill is filed for bitcoin to be legaized.
There is no impossible for Government to legalize bitcoin if they want. They can make it centralize to put regulation and taxes. Or they can communicate and make collaborate with crypto exchange so that they can put taxes for all the bitcoiners. If ever Government legalize bitcoin it will no longer anonymous if we make transaction because we need to put our identity before we can transact.
Seems that you don't how the blockchain technology and cryptocurrencies are working. Bitcoin is decentralized and it always will be. They can change bitcoin. They can only create a new coin. Then that's people determine whether they want that centralized coin or bitcoin. There is no doubt people will chose bitcoin or another decentralized coin.
We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.
Although bitcoin is decentralized, it requires the legality of a government to be used by people in the country. If the government has banned the use of bitcoin cannot be done freely. The government has full authority over the existence of bitcoin in the country, of course, in terms of its use.Yes because in many cases bitcoin can also affect the specific currency of a country, it can affect the economy so that it is needed to be legalized.
There is no impossible for Government to legalize bitcoin if they want. They can make it centralize to put regulation and taxes. Or they can communicate and make collaborate with crypto exchange so that they can put taxes for all the bitcoiners. If ever Government legalize bitcoin it will no longer anonymous if we make transaction because we need to put our identity before we can transact.
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.
Firstly government should takes a positive step to increase the positive goodwill among the peoples and set up a certain taxes on bitcoin and give order to permit in banking system.
We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.
Although bitcoin is decentralized, it requires the legality of a government to be used by people in the country. If the government has banned the use of bitcoin cannot be done freely. The government has full authority over the existence of bitcoin in the country, of course, in terms of its use.
Legalizing bitcoin varies substantially from country to country. while some countries have adopted it by explicitly allowing its use and trade, others have infact banned and somewhat restricted it. A country that wants its acceptance for improving its economic growth will do so and those that consider it a bubble wont do so..Nothing can be done by ordinary citizens
Unless the advocates of Bitcoin are in high places where we have people in the banking system, it would not work. The cabals behind the banking system won't want bitcoin to chase them out of business. I see it happening but not anytime soon
In my own opinion, bitcoin will be legalized In a government once they put taxes by using Ii In thier country as an alternative way of paying some expenses like bill, merchants and etc.
The crucial reason why most countries are stepping back in legitimizing or legalizing bitcoin transaction or even talking about banning it is that there is no institutional or authoritative behind bitcoin. This anonymity of bitcoin is making is risky for governments to openly allow its citizens to vest their income into it. It's not only about the decentralized thing and that government is doing this because it's not being able to control bitcoin, it's not like that. Even if bitcoin was, being equally popular as now, backed by some private company, the governments wouldn't have any problem with it. So the matter of fact is that we at ground level cannot do much except for bringing about more and more trust over bitcoin in the market, and maybe by seeing huge user base and trust, the government might consider legitimizing bitcoin transactions.
I think this is something beyond the common man's control, itts something that has to be decided by the governing bodies and the political class, as it aorly concern the national interest. However, we can join in Bitcoin and increase its market ca more and shoot its value and increase its use outside the crypto market, so much so that it will force the governments into adopting it
Yes some governments are against bitcoin but this is not bringing bitcoin down. I think all we need is to give all these people time and in just some years to come bitcoin keeps proving how superior it is, most citizens of these countries will invest more and the governments will have no other option than to accept bitcoin for various transactions.
We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.
If the government can benefit from bitcoin i think for sure they will legalize it.
Right.But as of now the government of most of the countries have failed to see the potentials of bitcoin.They did not realize the goodness of bitcoin that it will bring particularly on our economical aspects.It will really uphold our individual's economic status so how much more if it will be use globally,then the effecf would be somehow global too.
Governments control fiat. Central banks produce money, using so-called monetary policy. They also indicate how other banks work, monitor the currencies movement.When a private currency appears, the states loses most of its influence and they don't like it. When citizens use cryptocurrency, it is difficult for the government to track their income, and therefore to charge taxes. If all transactions are anonymous, how do they do it? The decentralized nature of Blockchain technology poses new challenges to the government. When it is clear how to solve them, perhaps the situation will improve.
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