What Can Be Done To Make Government Legalize Bitcoin - page 3.

ephelants360

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Quote from: bitcoindusts on September 13, 2018, 10:24:57 AM

Again, allow me to emphasize that bitcoin is not illegal per se. Unregulated, yes. But illegal? I doubt.

The problem lies in the government not being ready for the existence of digital currency. Who would have thought that digital cash can happen as early as 2009? No one anticipated. Moreover, no one thought that it would be possible to have a system of payment that does not require a central authority. And in this case, banks became irrelevant as they serve no intermediary purpose between user's transactions.

Then Bitcoin was designed to be permission-less. No one can restrict or impose its' usage. Here, the government becomes irrelevant. With pseudonymity in place, the government felt it is a direct threat to its sovereignty.

Perhaps it is under these impressions that Bitcoin seems to be illegal when it is not, rather, unregulated because the governments was never ready for cryptocurrency.

We suggest to inform our politicians that in a long list of non-suspicious and modern countries like the ones showed in the attached map, blockhain-based projects and then crypto-benefits is at least not banned or even welcomed, as he foresees massive oportunities for citizens and even for government agencies and bodies
https://www2.deloitte.com/content/dam/insights/us/articles/4185_blockchain-public-sector/figures/ER_4185_figure1.png
Do u agree?
Do u know other countries or projects being developed right now?

Kovanyy89

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“The Future of Security Tokens”

I think they do realize how great are the advantages of BTC and blockchain but they just can't start to use it now everywhere because they're not ready.

minhlee95

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DIA | Data infrastructure for DeFi

It is unlikely that we can convince the authorities to use or not to use bitcoin. There are people in the government who decide for themselves what they will do, and if they want to accept it, we will just be lucky.

WebTera

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Unfortunately, the authorities always act only in their own interests. And if they understand what benefit they can bring the adoption of bitcoin, only then they may legalize it.

Elerntta

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We just have to wait. I think that over time, the authorities will understand that bitcoin does not pose any serious threat, but only a huge benefit to people.

Gila uang

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Quote from: annaso on August 19, 2018, 12:08:04 PM

Governments can pass a law enacting all the citizens to update their bitcoin address to the existing identification medium so that governments can trace the transactions.Governments can decentralise the infrastructure by franchising the process just like issuing licences to private banks.

I think Many government organizations see bitcoin as the first means of deceiving people and ways to break the country's economy because many people might prefer to invest in cryptocurrency rather than creating job opportunities in a country that will cause citizen unemployment and crime to be far more
The only thing I thought would make the government legalize Bitcoin was when it was centralized which I believed would not happen.

Irwandho

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Quote from: kamoto on August 09, 2018, 07:44:09 PM

Most likely nothing will help here. The very essence of the crypto currency does not like the government. Well, only if the Crypto-currency is not decentralized, then it will not prevent the state. However, then the whole meaning of the crypto currency is lost ... it will be just a digital currency ... which has very little impact on the world.

I think Maybe then the Government accepted their request and legalized it.
There is also a possibility that the Government is issuing their own crypto digital currencies with certain rules and controls from the Government, so the possibility of legalizing Bitcoin will be very low.
Everyone cannot force the Government to legalize bitcoin. With the passage of time, when more and more people will come to flip bitcoin and will start using bitcoin for their payments; then the majority of people will increase the demand to make bitcoin legal currency.

pedagang2

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I think if the country wants to join bitcoin, maybe the country must think about what happens if things don't happen, for example, if someday bitcoin suddenly disappears, who will dare to bear the risk?
maybe that is one of the thoughts of governments who have not dared to join bitcoin.

Spontebob

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Quote from: mk4 on May 02, 2018, 03:41:25 AM

Quote from: Camorra Dev on May 02, 2018, 03:14:35 AM

The bitcoin as a crypto currency is still very young and has not been noticed by all countries so it just need some time until it gets legalized by the country.

Bitcoin is NOT guaranteed to be legalized. I'm pretty sure the government wouldn't want a form of currency that would be difficult for them to tax, especially if a lot of people aren't willing to pay for their taxes.

Yes you are right but if you want the government to notice bitcoin then make them understand the concept of bitcoin. Explain and share your knowledge about bitcoin to people around you.

dvmd lionel

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As long as bitcoin is anonymous and the trasanctions is hard to be traced to a particular person, governments will be unwilling to make it legal otherwise it might fuel money laundering and illegalities.

Vincemanam21

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There is no way for bitcoin to be legalize in a country as long as the government is not ready or not open in crypto.

SAHARANINE

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Governments might legalize bitcoin if it goes under there regulations and policies and I think that is the only path for it to become a global currency in because without becoming legalize no country will provide facilities or space for bitcoin locally and to avoid such things from happening bitcoin may have to agree with there policies and regulations but will that will do good to bitcoin or will do more harm is uncertain

ellabanana

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Legalising this new sytem of payment would be a threat to to our banking system, but if only the government would see how it will help in improving our economy, well probably, they would be pursuing it also.

Coongcoonggg

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I figure the administration will perceive bitcoin when the benefits made by people and organizations are great to the point that they understand they can never again disregard it.

saumang2m

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As long as the government is unable to do so, the use of Bitcoin will not increase the illegal activities in their country. By then the government will not accept Bitcoin as valid.

Demanderoca

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Bitcoin is our future. Most of the things have been developed and formed into digital. We also have these online shopping that would be a good way for bitcoin to be use, because it is a digital currency. Aside from those, the government would get a benefit from it. Most of people still have these misconception of bitcoin. It really needs to be explained well to the government to make it legalized.

rickn

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Many governments are moving in the direction of allowing the crypto market to be accepted and become a legal means of investment. Regulating will be important and will bring more safety to everyone involved in the market.

SIDDHI777

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It is not that is easy as we say but I think we can do tht by making bitcoin more demanding than today and for that bitcoin it self should be improved and developed by targeting important areas that any major demanding currency has achieved so far in the world because to become a demanding currency and an investment asset people should have the confidence to trust bitcoin over other major fiat currencies or cryptocurrencies and so far the dollar is know as the most demanding fiat currency in the world which uses for any international payment so if bitcoin to take that place it should be improved and develop by focusing significant areas to compete with major fiat currencies

Teclyna

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we can not make a definite step to encourage bitcoin for the government to legalize bitcoin. it all depends on the government's decision itself. as is the case today when some governments consider that the blockchain system is very good and effective for banks, but there is no definite step too to make bitcoin legalized.

franklin hoses

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it seems the government will not be easy to create regulation about cryptocurrency like bitcoin because I see the government is very afraid if bitcoin can take over the world and make world finance open means that everyone can see the existing transcation and the government is afraid if it can not corrupt again.

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