Topic: What Can Be Done To Make Government Legalize Bitcoin - page 7. (Read 3521 times)
the only way for bitcoin to be accepted by the world government is the transactions through bitcoin has to be put in check, like have a bill or something to prove that you have sended the money, and the traders informations have to be shown legally. But that's not gonna happen because the things follow is just a part of bitcoin and the main reasons for people who invest in bitcoin and use bitcoin as a currency.
I think bitcoin will be very difficult to be accepted and can get legality from the government because currently bitcoin is very unstable and the total supply of bitcoin is also very limited so I am sure it will be used for price games by whale players who have trading capital very much, so the legality of bitcoin is very difficult to obtain in some countries.
The only way to do this is to expand our communities and grow more industries to adopt Bitcoin, so that Bitcoin will gain a bigger share of the world economy.
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.
In my opinion, the most important thing is the blockchain system is not bitcoin. because I think the blockchain system is more flexible and can be applied in various fields. It is the blockchain system that matches the banking system and government. I think it will be difficult to convince the government and banks to legalize bitcoin.
Until they can't find to make it centralized, the will never legalize bitcoin. They are trying the ETF which would give them the authority to regulate but that's just about it, the hassle of monitoring transactions outside it may really give them the hard time if ever this will be approved. But one thing the community can be sure of, cryptocurrency will continue to flourish.
For example, we can look at the cannabis situation in the world. The US was the first country, which gave the cannabis legal status because of its benefits to the government. In crypto we can find the similar situation- countries cannot regulate it, but is cryptocurrencies got benefits to the countries? I think no, because of its decentralization, so it's not favorably for governments.
The government does not know very well about Bitcoin in the country so far they do not know the benefits when they start to know these benefits, they can improve it so that they can do it..Those who have beteled to Bitcoin have come to know about the benefits of the league who have not yet taken good ideas about it when they know they must definitely league, but we will have to wait a lot for it.
Let keep on promoting the usage of bitcoin positively until it gets to the higher authorities. From our neighborhood let us be proclaiming the good features of blockchain and it usage, from there the pressures will get to the government and they will ha e choice than to look into it.
I can't do anything so that the government in my country legalizes bitcoin, maybe all I can do is wait for bitcoin to be legalized in my country, bitcoin in my country can only be used for trade and investment and may not be used for payment
there is nothing we can do if we move as individuals, we must build a strong society to make the government aware that cryptocurrency needs to be legalized. but to make it happen might be a bit difficult because of the anonymity of bitcoin holders so that communication may not run as expected.
We the normal people could do nothing in this regard.I ts only up to the government authorities to decide whether to legalize bitcoin or not.
Only the government can decide if they legalized bitcoin it's up to them we have no right to pursue them. Only the government have power all just to do is wait.
At the moment, the main problem for governments is bitcoin anonymity, while this ability will be present in bitcoin, many countries will not legalize it. If we want that the whole world recognized bitcoin, need remove anonymity, but then immediately bitcoin will lose its value in my opinion.
I'm sure the government will never approve bitcoin, even though bitcoin with its blockchain technology is fairly safe for data storage systems, but we can't do anything to convince the government to approve bitcoin, because all this time the government's view of bitcoin is always negative and consider bitcoin to be a high risk in the financial system
Same with my feeling, I do not think that government will allow bitcoin to be used worldwide. They have no control over it, so they won’t let it to be legalized. 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.
Well for starters, we need to let the government know how cryptocurrencies work and how the market is so volatile and fragile. As responsible users, we needed the government to regulate the usage of crypto in a country to be able to have a better control and access for the users in the near future.
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.
Yes I agree with you, bitcoin is still in the development stage so it still takes time to be legalized in all countries. So there are still many processes that must be passed by bitcoin. 
There are two types of people in crypto:
Those who lick the boot of the state.
Those who don't concern themselves with their tactics of intimidation.
Those who lick the boot of the state.
Those who don't concern themselves with their tactics of intimidation.
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.
the problem is that the government is only able to implement aml / kyc in the exchange markets of their own countries, the use of transactions from various wallets such as blockchain or myetherwallet will never be tracked by official authorization which causes overall confusion where there is no proper system to track everything.
all we can do is continue to develop positive arguments and stay in touch with the government from the potential of the blockchain system only, if they fully understand this, I'm sure all new regulations can be carefully thought out.
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.
Maybe we can tell the government that Bitcoin can be regulated like other financial instruments. The government must know that Bitcoin will also be able to follow similar rules that already exist in the financial system, including Bitcoin can also be taxed. Maybe with that, the government will legalize Bitcoin.
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