Which country will be the first to legalize Bitcoin? - page 14.

luxcoin

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Quote from: krishnapramod on October 23, 2017, 12:23:55 PM

Bitcoin is already officially recognized/legalized as money in Japan and Australia. If OP meant which country will be the first to accept Bitcoin as its national/primary currency? Bitcoin is the primary currency of a micronation, Principality of Pontinha Cheesy

Bitcoin is highly volatile so a country accepting Bitcoin as its national currency would have to deal with volatility having an impact on their economy. But countries with broken economics, hyperinflation, Bitcoin being used as a primary currency by their citizens, hyperbitcoinization, I think such countries might possibly Bitconize completely, for example, Venezuela.

https://panampost.com/editor/2017/09/29/venezuela-could-be-the-first-country-to-fully-embrace-bitcoin-due-to-hyperinflation/

Great stuff buddy!
You gave the whole idea that what is all behind the scene.
The “ Bitconize” adjective is just amazing Grin

Due to its scarcity cryptocurrencies are just perfect to prevent Hyperflaction so you are right about countries with broken economy and very bad political decision that caused all of that.

luxcoin

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Quote from: richardsNY on October 23, 2017, 11:35:55 AM

Quote from: ?? on ??

There are many countries, they already legalize Bitcoin. Many countries, you see, they aaccepted bitcoin by ATM,banks,other digital ways. Probably usa,japan and other countries are the first to legalize Bitcoin.Hopefully, it will accept all over the world,very soon.

What a nonsense. At this point in time there have only been a few countries that actually legalized Bitcoin, so I don't understand where your believe comes from that many countries have done it already. Another thing, even in countries where Bitcoin isn't legalized there are Bitcoin ATM's operational, so that hasn't much to do with legalization. On top of that, thus far there has only been one bank that actually allowed people to buy Bitcoin through their regular ATM, and that's basically it. Not sure where you get your information from, but I would definitely start putting effort into doing some actual research before taking things for granted so easily.

->Quote <-

It’s like elettronic sigarette : they came out suddently one day out of nowhere. They aren’t illigal but that did not mean the local goverment would have supported; as a matter of fact after a while , even if many shop opened, it stated it needed to be taxed. So it changed completely its economy and the shop have closed

AimHigh

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Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

I think Europe the first country that recognized or legalized the bitcoin or cryptocurrency because they using bitcoin for any transaction for goods and services because bitcoin they called also a virtual currency in there country so that i think europe is the first country legalized bitcoin.

akablackhat

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Germany was the first country to recognize bitcoin as private money (or currency).

Ngewex Yuk

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I heard the news that Vanuatu state will use bitcoin for official transactions, if this happens then it is certain that the first country to receive bitcoin is Vanuatu.

luxcoin

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Quote from: ?? on ??

There are many countries, they already legalize Bitcoin. Many countries, you see, they aaccepted bitcoin by ATM,banks,other digital ways. Probably usa,japan and other countries are the first to legalize Bitcoin.Hopefully, it will accept all over the world,very soon.

We all hope so!
Maybe we can see that light spreads all over the world!
In the meantime the only thing we can do is support its idea of freedom from banks control and their local goverments who they are still supporting with lobbies and many other advantages such as their governent’s campain

cryptohome

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European countries will come forward to legalize them first, and probably some countries are making their intentions pretty clear.
They know, crypto currency is here to stay.

luxcoin

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Quote from: Allura74 on October 23, 2017, 09:14:31 AM

Quote from: Webetcoins on October 17, 2017, 01:14:35 PM

Quote from: lighpulsar07 on October 16, 2017, 07:40:25 AM

Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

well according to quora, germany was first ever country that legalize and accepted bitcoin as a currency and unfortunately it isn't the china but they were the largest investor and holder of bitcoins and also the first ever manufacture mining equipments u the world but the most notable countries who were accepted bitcoin is Japan because as a one of most innovative countries in the world

You are right mate! A lot of the countries are accepting the bitcoin and they are trying to make the bitcoin. The price of the bitcoin is increasing more and more and the value of the bitcoin is increasing so I think it is very good to invest the money in the bitcoin and to hold the bitcoin for the sake of the bright future because having the money is the best thing but having the bitcoin is the amazing thing.

i think country's that will first legalized bitcoin is the united states because their society is the biggest and active bitcoiners and mostly their sociey is capable of using bitcoin at all the time as a cryptocurrency.

I am quite sure it won’t be the USA the first Cheesy

They are just scared about giving such power to decentralized people so they can’t control the whole system as the have been doing forever!!
You need to see such documentary which tell you how the FED, Govermenta and other agency were trying to shut down the internet’s freedom ecosystem

krishnapramod

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Bitcoin is already officially recognized/legalized as money in Japan and Australia. If OP meant which country will be the first to accept Bitcoin as its national/primary currency? Bitcoin is the primary currency of a micronation, Principality of Pontinha Cheesy

Bitcoin is highly volatile so a country accepting Bitcoin as its national currency would have to deal with volatility having an impact on their economy. But countries with broken economies, hyperinflation, Bitcoin being used as a primary currency by their citizens, hyperbitcoinization, I think such countries might possibly Bitconize completely, for example, Venezuela.

https://panampost.com/editor/2017/09/29/venezuela-could-be-the-first-country-to-fully-embrace-bitcoin-due-to-hyperinflation/

richardsNY

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Quote from: ?? on ??

There are many countries, they already legalize Bitcoin. Many countries, you see, they aaccepted bitcoin by ATM,banks,other digital ways. Probably usa,japan and other countries are the first to legalize Bitcoin.Hopefully, it will accept all over the world,very soon.

What a nonsense. At this point in time there have only been a few countries that actually legalized Bitcoin, so I don't understand where your believe comes from that many countries have done it already. Another thing, even in countries where Bitcoin isn't legalized there are Bitcoin ATM's operational, so that hasn't much to do with legalization. On top of that, thus far there has only been one bank that actually allowed people to buy Bitcoin through their regular ATM, and that's basically it. Not sure where you get your information from, but I would definitely start putting effort into doing some actual research before taking things for granted so easily.

Allura74

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Quote from: Webetcoins on October 17, 2017, 01:14:35 PM

Quote from: lighpulsar07 on October 16, 2017, 07:40:25 AM

Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

well according to quora, germany was first ever country that legalize and accepted bitcoin as a currency and unfortunately it isn't the china but they were the largest investor and holder of bitcoins and also the first ever manufacture mining equipments u the world but the most notable countries who were accepted bitcoin is Japan because as a one of most innovative countries in the world

You are right mate! A lot of the countries are accepting the bitcoin and they are trying to make the bitcoin. The price of the bitcoin is increasing more and more and the value of the bitcoin is increasing so I think it is very good to invest the money in the bitcoin and to hold the bitcoin for the sake of the bright future because having the money is the best thing but having the bitcoin is the amazing thing.

i think country's that will first legalized bitcoin is the united states because their society is the biggest and active bitcoiners and mostly their sociey is capable of using bitcoin at all the time as a cryptocurrency.

loreykyutt05

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Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

when you say legalize is what you are trying saying is which country will adapt the bitcoin techonolgy as their currency ? Owning a bitcoin was legal , I've never hearned of a country in which they imprisoned a cotizen for owning a bitcoin ? exept for north korea maybe ? but to anawer your question as I undersatand it , I think also it will be china

luxcoin

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Quote from: fiulpro on October 18, 2017, 04:43:13 AM

Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

Hey

Japan will be the first country to take this step no doubt.
Bitcoins are legal in many countries but not recognized as an official currency but in a sense they aren't made for this recognition at all, cryptocurrency is a different thing and they are not the same as regular currency.
But right now the world is divided into two parts:-
1. People who are seeing bitcoins as a threat or who wants to control the value of bitcoins like China and Russia.
2. People who are legalizing bitcoins and also the counties who are making it taxable so that they can gain official recognition. Like India and Japan.
Anything is possible right now, the future of bitcoins isn't even decided.

Great point of view buddy!
We are the witness of what the world will look like in the next year - and we as community can make our best to change it in a better way.
Third world country have the power of millions of people even if they are poor, and that what can be counted. But in this way the need to be taught how to use it in a right way.

I personally hope your point 1) wouldn't take place otherwise less will change from now Undecided

luxcoin

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Quote from: Kotone on October 18, 2017, 03:39:43 AM

Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

I sincerely hope that the first country that would legalize bitcoin is a country which has a great influence over others so that it might be able to give sway over this. However I think that the third world country would be the one to first legalize in attempt to revive its economy

Definately. I hope the same buddy. Something has to change, somehow.
It’s not easy tough. We’ll see in shortly I think anyways.

The strong power in G7 won’t let it happen because they have to much to lose, but for third world country is different

justspare

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Quote from: sirslayer on October 20, 2017, 09:27:16 AM

Quote from: TravelMug on October 18, 2017, 08:39:48 AM

Quote from: dulce dd121990 on October 18, 2017, 08:15:29 AM

Quote from: Lampaster on October 15, 2017, 06:21:09 AM

Quote from: AT101ET on October 15, 2017, 06:04:57 AM

Bitcoin and other cryptocurrencies are already legal in a lot of countries. The fact that businesses can accept them as a form of payment and that any gains have to be reported and then paid tax on (at least in the UK) shows that countries have legalised it. Other than that and the existing forms of regulation, I'd think it has already been pretty much legalised.

In Europe everywhere is the partial legalization. In Austria there is even a Bank which opens an account in bitcoins. In Switzerland you can pay utility bills using bitcoin. There are bitcoin ATMs. Officially, bitcoin is not recognized currency anywhere. I have not heard that any company officially paid wages in bitcoins.

Well that's great thing to hear, As I've heard lots of country already legalize the bitcoin and hopefully in my country bitcoin will be recognize and legalize soon.

I think in Europe they are still 50/50 as far as bitcoin acceptance is concern. Some of them are noting bitcoin as for scam and Ponzi scheme. But there's also a lot who is bitcoin friendly and the air is very positive about it. While in other parts, some of the government is still undecided. In Asia though, bitcoin is very welcome except for China who we all know suddenly turns it back against bitcoin. So I don't know which country will follow the path of legalization after Japan or Australia, but I'm assuming that many countries are contemplating having a tighter regulation or a total ban itself. Let's wait and see how countries will react to bitcoin and cryptocurrencies.

Well I think Japan can be the first one to make bitcoin legalized although bitcoin is accepted by some develop countries and still there are a lot of countries that they are going to accept bitcoin but I think they want to give some extra time to bitcoin and I am sure that these countries will legalized bitcoin in their countries because its playing a big role in their economy.

Japan as well Singapore is are in discussion that these two will first legalize it and it is the sure thing that whoever will legalize it will enjoy the god economy benefits and this will bring a lot of businesses and revenue to their country and more of it bitcoin give eases to international stores and their citizens will also enjoy that protocols and more of this that country will be more stable in economy than any other.

paparexon0414

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How about japan and korea? News said they used bitcoin and widely accepted. I just dont know if they legalized it. But i assume they will. While Dubai is preparing to "World's First Blockchain Country. That would be great.

waynechong1995

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swing!

Legalize Bitcoin? Japan is one of the countries publicly announced BTC as form of currency is payment, small and compact countries would benefit from it as it increase buying power and stimulate economy growth among different niche economy. I believe your context would be BTC pairs with their national currency as well? that would hardly happen for any established country though.

Nevertheless, Wiki has a reliable, extensive list of statement from different countries regarding legalization on Bitcoin - https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory. The conclusion is most of the countries doesn't play strict with usage of BTC itself as long owners are able to comply regulations primarily on identification purposes to reduce money laundering. My country is coming up with its purpose towards banning or not toward cryptocurrency this year, guess it would be a turning point over my journey here.

King Sastro

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Until now there is no official state legalize bitcoin for currency, may still need a longer study in order to apply bitcoin as legal currency, if there is a first country that uses bitcoin I estimate is the philippines.

darkangel

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Quote from: luxcoin on October 15, 2017, 05:30:59 AM

Or others Criptocurrencies I mean..

I'm looking forward to read and hear this news that will happen soon then what we are thinking..and it will change the way of action in economic world by who already are against BTC and stuff.
It has to happen ( even if I don't know how )

I bet in China Wink

I really do not know the answer to this question, however, according to my memory, China is not the first country to legalize bitcoin, although bitcoin was the world's largest bitcoin market, but one Water in Europe allows the use of bitcoin freely as a real currency.

hildacitra

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what do you mean by that questions? there are 10 top countries which adopt bitcoin as the currency. they are USA, UK, Canada, Belgium, Australia, etc. even Australia calls bitcoin as a non-harmful mean of transaction. since the creator of this bitcoin is Satoshi Nakamoto who is claimed from Japan, I think Japan is the first country which legalize bitcoin.

Topic: Which country will be the first to legalize Bitcoin? - page 14. (Read 4507 times)