What Can Be Done To Make Government Legalize Bitcoin - page 23.

bce

sr. member

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Quote from: ahmedbrown on May 02, 2018, 02:43:43 AM

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 think bitcoin is a digital currency that will develop in the future later the government should also think about a lot of fake local money in circulation but bitcoin can not be forged if it becomes a legal currency

poplolnman

legendary

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Quote from: MiniMountain on May 18, 2018, 03:00:00 AM

The main purpose of the creator of Bitcoin is the decentralization and get away from the centralized system so there was no plan to be recognizable to the government but people from the cryptospace are doing the work to be legalize these new technology and government are doing their own research about Bitcoin or other cryptocurrency. It seems that the government is having a hard time because no one control the Bitcoin and it is now mainstream across the globe.

No when people realized that Bitcoin has been adopted widely and become as mainstream as PayPal , any government can't deny it and when they look deeper into Bitcoin function itself there's a lot of benefit then they would forced to make it legalized instead betting against people will.

ogini

member

Activity: 406

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Actually it needs legalization from the government, so that it take control of how many ICO,s are to be released a year.Legalization will come when the government pick the interest about bitcoin

MiniMountain

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BBOD Zero-Fee Exchange

The main purpose of the creator of Bitcoin is the decentralization and get away from the centralized system so there was no plan to be recognizable to the government but people from the cryptospace are doing the work to be legalize these new technology and government are doing their own research about Bitcoin or other cryptocurrency. It seems that the government is having a hard time because no one control the Bitcoin and it is now mainstream across the globe.

sungaiyangderas

member

Activity: 158

Merit: 10

With the passage of time, as more and more people will come to the bitcoin flip and will start using bitcoin for their payments; then the majority of people will raise the demand to make a bitcoin legal currency.
Maybe then the Government accepted their request and legalized it.
It is also possible that the Government issued their own crypto digital currency has certain rules and controls from the Government.

Dexion

full member

Activity: 812

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we can not force the government to legalize bitcoin. Our purpose is not the government, but our purpose is public, I prefer to spread bitcoin and crypto world to the public, so I can lead their mindset to see bitcoin as a future investment place.

after we successfully disseminate bitcoin to the public, the public will be bored with the system of bank transactions and bitcoin investors will increase.

eventually, the world will legalize bitcoin, even every country will create crypto, and every bank will use blockchain system.

rumexx

full member

Activity: 476

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Bitcoin despite stiff opposition by some countries has managed to keep a float and continue to forge ahead. Government are banning or regulating blockchain because they cannot control it. Let the users of bitcoin continue to use bitcoin for legitimate transactions devoid of any evil tendency.If we use bitcoin in good faith and government did not find any wrong in using bitcoin definitely they will backdown and accord Bitcoin/Blockchain the legitimacy it deserved.

Haxor321

sr. member

Activity: 489

Merit: 250

Quote from: ahmedbrown on May 02, 2018, 02:43:43 AM

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.

It's not an easy things to encouraging government to legalizing Bitcoin because they never easily making decisions. There will be so many things that they need to consider first before doing act or decide. They need to think what the best to their community before they involve in something that they know will give a huge effects to their country so I think that government on itself need to study and realizing in their own what are the true essense and benefit of Bitcoin that can contribute to the government.

Hawley

newbie

Activity: 61

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governments can ban bitcoin, but the ban cannot be very effective. so typically, they use other means to discourage bitcoin ownership and trading. but more to the point what is the reason for these efforts to discourage use. and theres a reason and goals practical and legitimate. Does bitcoin present a threat to sovereignty control of the domestic money supply,borrowing,sponsors,inflation,trading exchange. in order to recognise any medium as authorised payment and settlement system, they should have proper licences from reserve/central bank of the respective country. so the government can ensure all the preventive measures againts fraud.

Dingdong7

member

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When it is already used by the majority there no way government will not legalized it. Since bitcoin is now not known yet but everyone government is still not making move. They dont see it as threat for thw economy, but once it gets so popular and even the known personalities engage on it, surely government will take action.

Cj29

newbie

Activity: 99

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I think the only way to make bitcoin legalize by our government is to stop scaming people using bitcoin. Because it can lead to bitcoin banned thats the word that scammer didnt understand. Instead of helping each other they will pulled you to deep. So stop scamming each other

luckybit1

full member

Activity: 429

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We are the government.we placed them there....i would say so many of them are into bitcoin and so many of
them has most exchangers, direct or indirectly they are in love with bitcoin,while others are been deceived.

Zaibraid

member

Activity: 420

Merit: 10

So far, I have not heard about bitcoin ban in my country. As I know, my country only uses the country's currency to make a legitimate payment. Therefore, in my country, there are no stores that accept payments with bitcoins. Now, we can send a criticism to the government about the importance of blockchain technology. Although the government will firmly forbid, in today's age of globalization we can not abandon technology.

shafi alam

full member

Activity: 630

Merit: 100

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.

jhonnydeep87

full member

Activity: 378

Merit: 100

On a large scale we need to use bitcoin and it can help the bitcoin community by starting receiving bitcoin as a regular payment method and this may be achieving current government revenues. Cool

amadorj76

member

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We investors and users just need to prove to the government that bitcoin is legal and it can really gives profit to those who want to invest in here.

Jessica2009

full member

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Some countries has legalized Bitcoin and some governments do not legalize Bitcoin, to my point of view that is because they do not understand fully what is Bitcoin they may be thinking that Bitcoin is used only for criminal activities and to buy drugs so they fear Bitcoin to be legalized .Important fact is that there is no identity of the users of Bitcoin and Bitcoin value fluctuates it is not stable and the government fear that banking system will collapse if it is legalized.

neymarjunior50

jr. member

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so many country goverment try to control it but its naver happen becuase its totally decentralized currency . in future every country goverment will be legalized it .

SolutionBase

copper member

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You gain influence over the government in two ways: you create blocks of voters too big ignore (you need enough people who essentially become virtually single issue voters that can essentially jeopardize a politician's career) or you pay for influence (lobbyists, super pacs, political donations). Since crypto emphasizes decentralization and anonymity, its going to be hard to organize something, so the second option is definitely more likely, except that in that case someone has to do the "paying" - and since you don't have a base to organize easily, its probably going to be more dependent on a single/handful of rich crypto holders to organize something like that.

lordmick

hero member

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In order to understand in what cases the government legalizes Bitcoin, you need to know why it does not do it. First, the anonymity of the cryptocurrency creates the conditions for financing terrorism and laundering proceeds obtained illegally. Secondly, it is difficult to determine the object (income) of taxation and get income tax from it. Solving these problems will allow the government to take steps to legalize Bitcoin.

Topic: What Can Be Done To Make Government Legalize Bitcoin - page 23. (Read 3521 times)