Topic: Why bitcoin requires approval from countries ? (Read 1789 times)
It doesnt truly require any endorsement or be sanctioned for individuals from a particular nation have the capacity to utilize bitcoin and even a nation restricted its utilization individuals can at present utilize it yet the issue is individuals cannot exchange it for nearby money or utilize it for installment. After an endorsement from a nation obviously individuals can openly utilize bitcoin locally and trade it for fiat without stressing that you are completing an unlawful movement.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Will,in this situation the government of every country needs an approval to become the bitcoin as an legit investment and parts of economic progress in order to done a bussiness smoothly and in order,just like happen in the country of japan,they recognize the cryptocurrency investment as part of there economic growth as an capitalize country,so therefore this happen in the country of germany in approving the crypto is only a way to make the investment run in legality and according to the government law.
Technically, bitcoin does not need any approval from any countries. It can be used by anyone anywhere. Its just a question of legality.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
I think it needs approval because if bitcoin affect our country government will be the one that will blamed by the people. Actually there is a chance that bitcoin will affect our economy and also can make our bank disappear.
all things in the country need approval from the government, because if not it will never legal, so we can called it illegal, so if we want to use bitcoin safe bitcoin should have approval from the government, usually government makes a regulation for bitcoin in a country
Approval is basically required for making the transactions legal done by merchants or exchanges for the local currency.Else btc can be used if there is a device and internet connection available.Also, i see many countries joining the club of approving btc and thats a good sign for the long term aspect.The more and more awareness spreads the more the other global nations would also look into it and make it legal faster so that they dont lag in this aspect.
we need to approve it, because may help you to succeed in our future and they help in our environment to recognize what our need in society.
It has become necessary for the governments to accept and legalize Bitcoin in a country in order to eliminate the fear, doubts and uncertainty that might be hovering over the thoughts of new investors of Bitcoin in those countries.
I think bitcoin didn't not required endorsement on a nation. Since part of nation like my nation bangladesh didn't yet favor but then didn't illegallize. For whatever length of time that the nation didn't banned cryptocurrency then you put it all on the line.
Bitcoin or altcoin need to be approved by countries and communities. All transactions require the consent of the manager! Agree to ensure a social development! 
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Government or country's approval play a role in increasing the usage of the bitcoin. Approval of them helps to promote and advertise the cryptocurrency such as bitcoin. In reality, bitcoin doesn't need any approval to all. You can use it anywhere and anywhen. As long as you have an internet connection and a device you can access bitcoin smoothly. People's approval only means that it is a good choice to be involve in bitcoin and use it as long as you desire.
yes .. to legalize this bitcoin bitcoin system it should seek approval in that country. because it concerns the security of bitcoin and the security of its users. I think this can be legitimized by the government itself. But can this ETH price rise if the whole country legalize bitcoin ..?.
Actually Bitcoin does not need anyone’s approval to run or be used. Anyone can use it since it is decentralized irrespective of the fact that whether any country approves it or not. The approval here means that a country is making it legal to be used by the people of that particular country.but in the end still bitcoin needs the approval of the government for it to last since we all need the favor of our government, at the end of the day if it has an effect already in the economy the government has the right to decide.
In my opinion,this is what is called the process of legalization and setting of bitcoin. It is necessary in any state to formally improve its legal status in any normative legal action,to determine the basic conditions and rules for its circulation in the country,and also to determine by taxation.
I mean its normal to think that it really requires approval because of its high value. If its value is that high, then we must at least place something that might control its value or like approving the use of it. We know that it is from the internet and some countries are scared to be overthrown in their wealth. We know Bitcoin's value is still being developed even though it reached a milestone last year. Some countries are banning it and some countries are happy on the use of it.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
It is not that it needs approval, but it puts Bitcoin in a better light if it is approved by a country like Germany. Even if it wasn't officially approved people would still be able to use it or trade it. Many countries try to regulate the use for taxes and to prevent illegal transactions (though illegal transactions could be made in any currency in the end, so my guess is mainly taxes).
my opinion is that large corporations are afraid of risking investing money from investors, and these are trillions of dollars, so they need regulation
Approval means recognized and can be promote in particular country. Sometimes it means legalized to let the citizens contribute to make it more better and higher profit not for one benefit but if possible is for all benefits. I believed bitcoin is one of the major issue to talk about in our generation.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
It just provides legitimacy to Bitcoin and more people will feel comfortable investing in Bitcoin. A lot of people, apart from institutional investors, are concerned about the reputational risk associated with cryptocurrencies. With the government clarifying its stance, they may go ahead and invest.
I agree and that's a win win situation for everybody involved. The more people we get into crypto the bigger the market cap and coins values.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
It requires approval for it to be legally formulated which means it doesn't violate any rules or regulations within the said scope. Besides, nowadays, all should be in legal form.
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