Which country will be the first to legalize Bitcoin? - page 17.

Yuhee

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Quote from: batang_bitcoin on October 17, 2017, 03:41:13 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

Actually there's a lot of countries that recognizing bitcoin and declared that it is legal to their jurisdiction. I have witnessed a thread here about Brazil that has 150 stores that accepts bitcoin. And I can't tell on what country is the first to legalize bitcoin because what's important to me, it doesn't matter anymore if that will be the first or last country but what's important is that they are supporting bitcoin.

Because it could help a certain country to improve in the financial status. Especially if its a 3rd world country. But sometimes most innovators are 1st world countries because maybe they can really afford legalizing bitcoin or they could make infrastructures for mining bitcoin. It would be better if corporations also would support bitcoin even if their government doesnt really see it as a fit on their country.

batang_bitcoin

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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

Actually there's a lot of countries that recognizing bitcoin and declared that it is legal to their jurisdiction. I have witnessed a thread here about Brazil that has 150 stores that accepts bitcoin. And I can't tell on what country is the first to legalize bitcoin because what's important to me, it doesn't matter anymore if that will be the first or last country but what's important is that they are supporting bitcoin.

King Sastro

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Based on many analyzes and data of the first possible state of the country that legalize bitcoin is Japan, the first thing we can say is that the Japanese government is currently certifying bitcoin exchanger so this is the first step to legalize bitcoin.

luxcoin

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Quote from: cydrix on October 15, 2017, 09:53:08 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

Correct me if im wrong i think bitcoin is not illegal it has been discussed in so many threads and articles that hicoin is no illegal though it is decebtralized but its not enough to be branded as illegal it is only a digital currency that has no limits of values it is only like a bank that is digital and can make currency higher than normal currency well some country are agaisnt but almost all supports or ignores it on bitcoin . Well what can we do yeah just A big big ^NOTHING^

You are right - it's not ILLEGAL . But none of the Governments have ever stated that is Legal , so I just wonder when this will happen...Because it has to.

Think now if BTC is banned in your country - even if before yesterday it was not illegal. What will you do with all the BTC you have ?
Of course you can still trading and stuff - but the main reason they are created is to use as DIGITAL CURRENCY and use it actually.

luxcoin

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Quote from: Immakillya on October 15, 2017, 08:15:44 AM

What do you mean? Many countries are already legalized bitcoin or even the other cryptocurrencies(altcoin). Make your own research mate https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Japan, USA, other African countries are now declared cryptocurrency as legal. In fact they are the biggest in market of cryptocurrencies. Anyway, it can be change. If you look at China. Cryptocurrency legality is questionable because anytime they can declare them as illegal. Recently, they ban ICO crowdfunding. Next is the exchanges there. They stopped all trading activities there by stopping all exchanges there to operate. There's a possibility that they will ban cryptocurrency there.

The fact that is an acceptable form of payment as I see it's not officially legalised by the local Government.
I mean - you can ask to your firm to be paid in USD, right ? But you can't with BTC because they won't be allowed.
So that's the question.

You are right about china banning ICO - but they are looking forward to change their words about it. And like Venezuela where nobody trust the local authority anymore, they are willing to trade their saving in BTC so they won't lose their money in hyperinflation .

luxcoin

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Quote from: bry0908 on October 15, 2017, 07:38:01 AM

i think the rich country like USA, RUSSIA, CHINA and japan. they are currently one of the country who has advanced technology. and maybe theye are the one who run bitcoin in their economy. they can run their economy using bitcoin.. unlike Philippines who is new in bitcoin.

i bet CHINA and USA.

That's exactly what I think.
Of course BTC and other CCs is accepted somewhere as a form of valid payment , but officially the Govs has not stated anything about what it will be its future.
Because as I can see, you now can accepted but tomorrow you don'y know. So it has to happen first somewhere where a country recognise it as a form of legitimated currency.

sofi@

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Either Valenzuela or Japan because both of them give recognized in bitcoin and also starting to adopt the bitcoin market maybe these two country will start eliminating fiat soon and make bitcoin as their primary currency, I think their government are open minded to this kind of economy

rroyk

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My thought would be japan or Russia
as i have seen these two countries who really supporting blockchain technology .
i know which country will not definitely gonna legalise it.
first on the list would be china second Korea then america.
i know that that have not banned bitcoin exactly now but imposing trading restriction and announcing owncryptocurrency is what governmet doing to make money form people.

nl247

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Quote from: joseafonso123az on October 15, 2017, 08:53:06 AM

Countries with economical unstability might be the first ones. Maybe Venezuela, or even Zimbabwe may adopt BTC, because they have not many to lose because the state of their financial system is not very good. But don't know if their create legislation about BTC anytime soon! Is too volatile still, and then it can bring losses, and the adpoters of it will have to respond to it, causing bad climate in those countries.

Zimbabweans are really making use of bitcoin to support themselves by using it more as a safe haven looking at the fact on how their currency has failed them over the years. Even the government is gradually looking into how they can use it to benefit their economy and probably have it better than they always have. The hyperinflation in this countries have really driven the desire for bitcoin high and it wont be far before it becomes even more of use than the normal fiat for them.

HonestSurfer

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Quote from: AT101ET on October 15, 2017, 06:35:25 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.

I don't know of any companies (by company I mean MNC) that does but I've read on this forum and elsewhere that some employees have asked to be paid in BTC.
What I meant was that businesses (including large companies) have started accepting BTC as payment for their goods or services. I don't know what they do with that BTC (if they keep it or convert it) but they accept it as a payment method nonetheless.

I think paying employees in BTCs has a few issues at the moment. One is definitely how to agree on the rate: if the contract calls for specified amount of BTC, then employee has a currency risk due to high volatility. Another thing are the social contributions that employer has to pay on top of the net salary (health and social insurance...). Much of this actually depends on the legislation, which usually specifically prescribes in what form salaries must be oaid out (e.g. prohibition to pay in "assets" etc.). Some of these could probably be solved, but then again it is easier to pay the employee in fiat and let him deal with transferring the money to BTC.

You are right on the fact that MNCs or even SMEs are accepting BTC as a payment option. However this is still done in rare places; not enough to spark a real economy around bitcoin. Moreover, my guess is that once that happens, governments will intervene since this would become an economy that they cannot monitor. Perhaps it will be an invisible intervention (reverse-engineering who owns what wallet address) or more upfront (requiring disclosure of ID at payment or similar). What do you guys think?

lighpulsar07

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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

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

Shamie1002

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What you mean and what is your description of your concept of legality of bitcoin in a country. Wherein there are already countries that accepts bitcoin use and mode of payment. Some countries like Asia, accepted or made the use of bitcoin legal by implementing it with taxes. I am very curious which country government will make use of bitcoin without or have the cheapest fees.
I think that if aollying taxes is the only way for government to acknowledge bitcoin then I will agree with it. But I hope the taxes will be fair.

Harley29

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Quote from: ReLieD on October 15, 2017, 05:55:37 AM

I don't think that any country can actually reject Bitcoin. Well Bitcoin might not be recognised as an official currency in any country because people will not want to drop their currency for Bitcoin.

Yes the bitcoin is the important currency and the price and the value of the bitcoin is increasing more and more. In the past the bitcoin is getting high and the popularity of the bitcoin is increasing. The china was the first currency holder and the bitcoin will be more than this in the future. The countries and the bitcoin are getting more expensive so hold the bitcoin and increase the value of the bitcoin is good in each and every country.

TheAndy500

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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

Japan? China or Venezuela may seek to spread this much broader than it is now in Europe, where legalization is conducted only partially. Regards.

thisappointed

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I think it is the japan who made bitcoin as a legal currency because they have a lot of stores that accept bitcoin like hundred thousands of stores that accepting bitcoin and i think that there will be more stores that will accept in japan. I think that the other countries will follow what japan did in bitcoin and they will have a lot of stores that will accept bitcoin like in japan.

btc-facebook

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I think it will come from Asia since they are very interest especially about bitcoin technology
When their government against bitcoin but people are getting interest since there are a lot of demand for the coin

For me I hold bitcoin because there will be more country that legalize bitcoin on the future

audrey12

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I think it would be Japan because the way I see how they give support to digital currency I think they are likely to prepare their economy for the full adaptation of bitcoin maybe they are just waiting for the right time so that their people can also accept it

Vaskiy

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Once China lead the network, now I believe that the hands of Japan seems raising. Already Japan has made a regulated usage with more markers for the same. Hope in future the same continues making it the center for all the financial development happening through digital currencies.

Opquar

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As others have said, it's legal in a lot of countries. That can change in a hurry though. Some governments are just playing the waiting game and we really have no control over their decision. Bans are unlikely, but not impossible.

nskendrovic

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Well there are some countries that actually already are Bitcoin friendly like Australia, Japan, etc. The problem is if they try and tax people for their money. Then there won't be a reason for people to declare.

Topic: Which country will be the first to legalize Bitcoin? - page 17. (Read 4507 times)