Topic: Why bitcoin requires approval from countries ? - page 17. (Read 1789 times)
By approval they mean that legislation was made in regards to crypto currencies. While Bitcoin is a decentralized currency which means that it doesn't needs the approval of any country but the approval is needed by enterprises so that they could create services in the crypto industry fear free.
bitcoin already feels comfortable to the holder and does not require approval from each country, if the state is able to give approval to bitcoin of course every user will be burdened because the government will definitely limit every transaction that happened from each user
I think approval means accepting the digital currency to be used in one country. It needs the approval to make sure that it works legally on one country and users can used it comfortably without hesitations that the government think to have illegal transactions why earning a big amount and used different currency which is unknown in the market.
Some countries are afraid of Bitcoin due to fear of crushing their fiat system. Most of the countries who banned Bitcoin are those countries who are having difficulties in their monetary system.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Cryptocurrencies particularly bitcoin doesn’t need an approval as far as i know though there are some countries that recognized cryptocurrencies by the government and to let all the countrymen know the cryptos are existed jist like spreading the news to all. But with or without the approval by the government, bitcoin can be invested as long as the government of such country didn’t banned or made it illegal.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Countries' approval are not for the accessing of bitcoin. It is for the legalization of using bitcoin in their places. We doesn't need their approval by entering the bitcoin because it is accessible by all. Also, as long as you have an internet, gadget, and an account in here ypu can use it whenever and wherever you want. Permission from countries only makes bitcoin's usage legal.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
approval and acknowledgment of the government will be very important in developing Bitcoin and if it is true that the government supports the circulation of bitcoin then it will greatly provide a positive value for bitcoin and other cryptocurrencies. It must be admitted that crypto must get support from the government because it can make more people use crypto, especially in the future when the era of technology is getting more sophisticated.
Well, when it is approved in a particular country means that bitcoin was became legal. The government will accepted or approved it because I know that they can see an opportunity with it and maybe they want also bitcoin as their part of their currency.
With Bitcoin accepted means the governments showing support to Bitcoin no matter the amount and it can stimulate the market, which means this s a fresh air for investors. Rejection also has an impact, the price can fall immediately if the country of where the investors live or the facilities used by the investors suddenly reject Bitcoin. Many countries haven’t decided yet, they’re still in the gray zone or reject based on the Law that prohibit it, but it’s still gray in my opinion because it doesn’t discuss in detail about the prohibition against Bitcoin.
Its because bitcoin is not regulated. For bitcoin to operate on such a country, it needs approval. There are several countries that approves bitcoin, like japan. We see that japan is a rich country, and a open minded countrymen. They see bitcoin as a help for their country economy, and because of that, their country is becoming more richer and advance in technology. If other country see its good side like japan did, i think that the other countries will be successful too. 
With Bitcoin accepted means the governments showing support to Bitcoin no matter the amount and it can stimulate the market, which means this s a fresh air for investors. Rejection also has an impact, the price can fall immediately if the country of where the investors live or the facilities used by the investors suddenly reject Bitcoin. Many countries haven’t decided yet, they’re still in the gray zone or reject based on the Law that prohibit it, but it’s still gray in my opinion because it doesn’t discuss in detail about the prohibition against Bitcoin.
Bitcoin actually doesn't require approval to be used anywhere. You can use it as long as you have internet connection and a device.
Countries "approving" bitcoin just makes it actually legal to use and accept for merchants. correct me if I'm wrong
Yeah I agree with you. There is no need for some approval for you to do cryptocurrency or bitcoin. If you have the capability to do it, then no one can stop you. Maybe there are some countries who are announcing that crypto is supported by their government but it doesn't mean that the government approved it, they just make it legal and support it in all aspect. Countries "approving" bitcoin just makes it actually legal to use and accept for merchants. correct me if I'm wrong
bitcoin is available everywhere. counties' approval just means they are legalizing the use the bitcoin in the state and accepts merchants.
If Bitcoin can be further developed, it is free to fly in this market across the country.
Most countries have realized that increasing demand for electronic money and acceptance of bitcoin in some countries will lead to more countries adopting bitcoin as it is a new development trend. Other reason is that they are anti bitcoin because they cant totally put a tax or any other charges thru it. they are arfaid because if more people can recognized bitcoin , sooner or later all people will now use it and the fiat will be totally forgotten . which means they cannot earn an incentives and more. Bitcoin of course every user will be burdened because the government will definitely limit every transaction that happened from each user.
bitcoin already feels comfortable to the holder and does not require approval from each country, if the state is able to give approval to bitcoin of course every user will be burdened because the government will definitely limit every transaction that happened from each user
This is only for the good of the people living in that country like here in the PHilippines where local exchange had given license to operate exchanges from fiat to crypto. And in the process KYC is needed in order to trace those people that might use cryptocurrency as their means on illegal transactions. The higher the amount it involves the higher standards of KYC will also involve. You could not get your money unless you obey the rules and regulations.
approval may be for the ICO`s or whoever wants to accept payments with btc can use it in their business model without seeking legal attention from the representatives of the finance/
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Do you live depends fully on crypto without Fiat intervention at all? How can you access the internet? Do you have direct transmitter to a satellite? Does the electricity you’re using come from a private power plant? Does the police won’t know all the things you do in your home? So why do Bitcoin need approval from countries? Bitcoin needs the legitimacy of nations to bring the unification of electronic money
Most countries have realized that increasing demand for electronic money and acceptance of bitcoin in some countries will lead to more countries adopting bitcoin as it is a new development trend.
It's only depends on market
I think legal bitcoin anywhere as long as there is internet connection only, the government is just watching and can not do much
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