Topic: What Can Be Done To Make Government Legalize Bitcoin - page 21. (Read 3521 times)
There is nothing much we can do beside trying to convince politicians not to prohibit cryptocurrencies. In many cases, governments will only try to remove the decentralized essence, and forcing all the business deal with cryptocurrency required a KYC verification.
It is a subject of world wide interest so we need to do something big to make it possible.
I believe the only and fastest way for Bitcoin to be legalized by governments is if it were to become centralized so that they can control it in every way. This I believe is the main goal of the governments because they saw Bitcoin's potential in generating huge amount of money. Of course, we know that governments are greedy because they want to manipulate everything, anything, and anyone who can make them earn huge profit!
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.
Bitcoin collapsing the banking system is actually an impression that makes the government disapprove bitcoin. The idea of a cashless country, destroying their monetary unit is not what a country's government wants. The government will be at ease if the users are responsible enough and understanding enough to know the limits of a cryptocurrency in every country. From there, probably more countries will see potential and credit in bitcoin. Government is there to control and secure their citizens (especially from unstable currencies ...and probably scams and hacking) that's their job.
Many governments' attitudes toward Bitcoin are observational surveillance. They have not yet formulated a policy for Bitcoin. They are trying to use Bitcoin as an investment product rather than a currency.
That is only working right now because bitcoin is being mostly used as an investment but once bitcoin begins to be used as a currency again they will have to take a posture of what they want and expect out of their citizens that is when we will find out how accepted bitcoin is around the world by the governments and once we know that we will have a clearer idea of what the future could be for bitcoin, do we have to fight to use bitcoin? Or can we use it similarly to fiat? 
the circulation of bitcoin is unlikely to be controlled by the government because its bitcoin movements are never stable and tend to be unpredictable. bitcoin does not require regulation from any government.
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.
maybe the government began to see that bitcoin using technological advances and the development of the era in the increasingly advanced era as now bitcoin certainly one day will be needed bitcoin created with a good purpose but to be negative result was due to the intentions and initial goals of these investors 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.
only governments can legalise bitcoin.. governments can take under bitcoin into taxes and fees. Banking systems controlled bitcoin if governments should a proper steps.
Many governments' attitudes toward Bitcoin are observational surveillance. They have not yet formulated a policy for Bitcoin. They are trying to use Bitcoin as an investment product rather than a currency.
For the government to approve and make Bitcoin legalize in their country is that to make them hold bitcoin. They ban bitcoin because they don't have the power or they don't hold the bitcoin they see bitcoin as a threat in their economy where all people can be rich, they don't want the people to become rich or get any source of money on something that they don't control. The government doesn't want anything that they don't control that is why they ban it so that the people in their country can't gain from it.
I think it will only take a good example of a country who makes a good use of blockchain. China is a already practicing a cashless society and they are even more excited to implement blockchain with it so that will make other government to legalize 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.
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Once bitcoin has been massively accepted by people all over the world and it operates well , brings much benefits to people, supports economy of the country, etc; the government may consider to legalize it. Further, bitcoin will be used in daily economic transaction, supporting each other wih fiat money. It will take the same function as fiat money besides as digital asset.
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.
[/qother
Once bitcoin has been massively accepted by people all over the world and it operates well , brings much benefits to people, supports economy of the country, etc; the government may consider to legalize it. Further, bitcoin will be used in daily economic transaction, supporting each other wih fiat money. It will take the same function as fiat money besides as digital asset.
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.
First why the government is not legalising bitcoin? Probably because it will collapse the banking system and the chances if money laundering will incease.so if the government officials find a way to handle this ,then bitcoin can be legalised for sure.
The government should not control bitcoins because there are many corrupt officials that definitely use it in their own interest.
Governments will legalize it when they ask you to pay taxes on it. Are you agree?
The only problem for Government are just taxes … see Germany and other countries that are trying to think about the way they can tax you on bitcoin.
On the other front … Japan already did it.
The only problem for Government are just taxes … see Germany and other countries that are trying to think about the way they can tax you on bitcoin.
On the other front … Japan already did it.
Government Legalize Bitcoin, i think bitcoin should build up trusted security on there platform especially against hackers, a secure government Admin dashboard should be created for government in other for them to control their clients transactions and bill, see Government just wanted to be treated specially.
Bitcoin must do something for the government to earn the trust of the government.
In this case a physical form of bitcoin is very much essential to convene government.
What can be done is to let them control the crypto. That is allotting the 51% of the whole system to their system. Which is I think not possible due to the continuous increase of people who participate the the whole blockchain technology. Another is, if each of the cypto could be actually backed by a gold. Yes, a gold. Even the fiat these days is backedup by gold reserves, which then add to determine the reliability and price of the coin.
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