Topic: What Can Be Done To Make Government Legalize Bitcoin - page 22. (Read 3521 times)
I do believe that the volume is the only option for us to build a strong lobby in every country to approach the government otherwise they are always ready to take decisions without hearing the other side. We must build a strong and active community and build awareness about cryptocurrencies and blockchain. In my country, domestic exchanges have formed the community to represent the side of crypto users through legal channels but still, there is lack of users involved in this area.
The first thing that the governments are going to ask is to make the bitcoin transactions not anonymous. Will we be able to do that? I don't think so. So this is the first roadblock. Now the second one is, the governments are going to ask for control over bitcoin and what can be allowed and what not. This also isn't going to happen. So these are the two major roadblocks when it comes to forcing the governments to legalize Bitcoin.
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.
There is nothing to be done to make governments to legalize bitcoin, if you think about it bitcoin goes against the best interest of government and banks and those are the two most powerful entities in the entire world and they do not want to lose that power, so I expect they will only accept bitcoin after a long war against it in which despite all adversity bitcoin beats them down, so we cannot hope to get that power away from them without the presenting a fight. 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 government should study carefully the nature of bitcoin. And they should accept as a community we should create community so that the people can use bitcoin and blockchain.
The government should study carefully the nature of bitcoins.If they found out that it has a potential for a growing market share,they should conduct procedures to legalized it.They can put taxes on the cryptos.People who has proper knowledged should talk to the government on what are the positive and negative effect of bitcoins,so that they are aware of this.
I think the government will recognize bitcoin when the profits made by individuals and businesses are so great that they realize they can no longer ignore it. This is especially true as nations become wealthier due to legitimizing it while those throwing obstacles become poorer and less influential.
I think there is nothing much that can be done to convince the governments to adopt Bitcoin when they already banned them, Its a decision that they must have weighed all the options to rich at that particular decision. However, the users can stop making illegal transactions using BITCOINS, THIS might encourage the governments to go easy on their regulations on Bitcoins, an agreeable taxation deal could also be discussed between the government and Bitcoin users so that both parties are satisfied.
many country government legalize bitcoin most of the Japan & European country government also Legalize Bitcoin. In future most of the country accept it .
In most developed countries, it is necessary to conduct transactions through the banking system so that the use of cash is scarce, the government can easily legalize bitcoin. In countries where bitcoin is legal, they allow the exchange of local bitcoins or trading platforms to provide exchange services that are directly linked to the bank and also have taxation on the income of crypto. They think that the adoption of Bitcoin may lead to the collapse of some banking systems and also the means to prevent money laundering. What if something very wrong happened in the bitcoin world and the citizens lost huge amounts of money, who was responsible? Who should we complain about? Is there any support or authority that we can protest? Or at least ask for help?
maybe the government just does not want their people blinded by investing in bitcoin after all it is not supported by anything. If there is something wrong in bitcoin that makes people lose their money, they can not do anything else because there is no place for us to complain because nobody has bitcoin
I believe it will happen! But not now, in the near future there are still some issues and regularity or even controversy regarding bitcoint transaction that has to be clarify clearly to all.and this is all for the benefit of everyone. i believe bitcoint is heading forward to be the next leading currency.
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.
First, you have to understand why the majority of governments are not accepting BTC and other cryptocurrencies. It's mainly because cryptocurrency is decentralized and distributed financial system that won't be controlled and manipulated by central governments, so why any government will accept that financial system. This is the reason why many governments have banned cryptocurrencies in their regime.
To make cryptocurrency acceptable to governments, we have to regularize it by eliminating its decentralized nature, this is something not acceptable to the crypto community. According to the crypto community, anything that can be controlled and manipulated is not cryptocurrency.
I think cryptocurrency will not be accepted by governments globally and it will continue to exists as financial system in parallel with fiat currency.
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. Blockchain function is broader than bitcoin function, because bitcoin is only limited as a means of payment and place of investment. While blockchain can be used for government systems, industrial systems and more.
In my opinion, for the government to see bitcoin and blockchain as the technology they have to accept is that we as a community should create a community so that other people can use bitcoin and blockchain, the more people using bitcoin the government will think to arrange it, they can benefit from taxing each user.
In my opinion, for the government to see bitcoin and blockchain as the technology they have to accept is that we as a community should create a community so that other people can use bitcoin and blockchain, the more people using bitcoin the government will think to arrange it, they can benefit from taxing each user.
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.
bitcoin becomes legal of course the government should be able to receive bitcoin well, likely to make bitcoin get positive news for the future government will legalize bitcoin 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.
many country government legalize bitcoin most of the Japan & European country government also Legalize Bitcoin. In future most of the country accept it .
NOthing can stop money laundering ,
Every government try to make tax's from people's money.
but there is no option for paying tax's.
if the tax program start, govt. will definitely accept bitcoin.
I guess that's not just about taxes. The government does see bitcoin as a technological advancement, but most governments are worried about bitcoin misuse as a crime tool, in addition, there are no official administrators managing it, and its volatile price makes bitcoin a risky investment. The government is just trying to maintain the economic stability of the country, and that's the job. Every government try to make tax's from people's money.
but there is no option for paying tax's.
if the tax program start, govt. will definitely accept bitcoin.
So many country government legalize bitcoin most of the Japan & European country government also Legalize Bitcoin. In future most of the country accept it .
Yes you are right it can give a collapse to many business in the country who will support crypto world but it will also bring a better economy in the long run because of its abilities.
For me a country that ban's Crypto currency will unbanned it they will see the effect of it in a country that supports it.
For me a country that ban's Crypto currency will unbanned it they will see the effect of it in a country that supports it.
We know that Bitcoin is banned in a lot of the country because Bitcoin can not afford to use it, but it can accept it for most countries if bitcoins are concentrated. Well, those people who do not accept Bitcoin do not lose hope on them. I'm sure the government will not want a currency that will not be difficult for them, especially if many people are not willing to pay for their taxes.
Am sure the government is fully aware of the blockchain technology, this technology was used to create Bitcoin by Satoshi Nakamoto. Some country government are already planning on using the technology to advance economy standard and make life easier for citizens. However full legalization and adoption of Bitcoin by the government is really possible but it will sure take a while. Somehow the Bitcoin is in struggle to replace Fiat and this is a very big battle. Maybe the government needs to be true and see how this technology can transform every aspect of governance ,then they can probably give massive recognition to Bitcoin.
Money laundering was in the past, prevails now and will be in the future. So bitcoin is responsible for money laundering it is not completely true. It can't be a reason to ban bitcoin.
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