Why bitcoin requires approval from countries ? - page 18.

jakezyrus

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Quote from: Leo Barnes on June 25, 2018, 05:15:56 AM

Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Bitcoin does not really need of an approval of the government because bitcoin is autonomous in nature meaning independent, sovereign, free, unmonitored.

that is right. bitcoin does not needs aproval because it is only built online without anyone controlling it. though some countries are strict when it come to new technology that they are not really familliar with. the government of a certain country can still set a rule or a law because they do still control their country. 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 no more.

TheClownSong

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Quote from: mk4 on June 18, 2018, 06:28:58 AM

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

Indeed, transaction using bitcoin for payment in merchant need government regulation. Beside that, with more bigger bitcoin transaction in market, government want to collect tax from that transaction and to collect taxes, government should make regulation on bitcoin trading

Leo Barnes

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Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Bitcoin does not really need of an approval of the government because bitcoin is autonomous in nature meaning independent, sovereign, free, unmonitored.

eashikde

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Because the approval of bitcoin is pursued by a number of rules under which the government can fully control this cryptocurrency. Without this, it remains outside the law and through it it is possible to do various illegal cases without paying taxes.

danyakotletkin2018

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If the currency will support the state there will be more investors. The trust of citizens to this crypto currency will appear.

Promipunit

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In my country, you can buy Bitcoin or any cryptocurrency, its not illegal but govt doesn't support it. Its all on your own risk. And now govt is pulling anking support from the exchanges, so no fiat to crypto trading. But still, Bitcoin is not illegal in my country.

Daniel91

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If you use bitcoin only personally, for yourself, I don't think that you need any official approval from your country, government etc.
Just buy bitcoin and enjoy profit.
Nobody can control you.
When you need some funds, exchange to fiat and withdraw.
If you wants to start some business with bitcoin, than it's completely different matter.
For business you have to follow all laws and regulation and pay taxes.

millionaireshs

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Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

2 different option why we should totally operate bitcoin in our respective country first; government noticed that there is bitcoin operated but they didn't conduct totally ban and people freeway to use unless they commit crimes or taking money from investor with no returns of investment that's not really good. second; government required approval before they use Bitcoin for the purpose of deductible taxes generated income from bitcoin for every transaction.

mikan111

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By approving bitcoin, it's only legalizing its use in the payment system, but in the other hand bitcoin doesn't need legalization for someone to use it.

Kalm

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https://i.imgur.com/ya7OkAV.png

Quote from: rameshrajan1000 on June 25, 2018, 03:54:59 AM

The largest or smallest amount is invested in middle class and richer people in bitcoin. In countries where it is banned, the people of the country will be greatly affected. So the country's approval is necessary. If bitcoin is needed, it is not necessary, but people who depend on it.

Bitcoin is future digital currency. So it any where to use. Bitcoin is avoid the scam. It help to people growth and country growth. It need for the bitcoin information check the market place and coin disk. It reach the all country people. So it help to all country business. So people easy to get the more job and more information.

rameshrajan1000

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The largest or smallest amount is invested in middle class and richer people in bitcoin. In countries where it is banned, the people of the country will be greatly affected. So the country's approval is necessary. If bitcoin is needed, it is not necessary, but people who depend on it.

dablatair

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Quote from: kokobaba880 on June 25, 2018, 03:33:47 AM

Not for me but the big investors and business man concerned this side because they are noticing that if the country allow crypto then they will invest risk freely and then they can not be blame for any illegality of this currency.

you're totally right, crypto world could not grow at the maximum without acceptance of institutions and countries. These are the kheys for global investment from banks and public.

kokobaba880

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Not for me but the big investors and business man concerned this side because they are noticing that if the country allow crypto then they will invest risk freely and then they can not be blame for any illegality of this currency.

Lexurdania

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Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Frankly, bitcoin dont need approval from government. But merchant need regulation that allowing accept bitcoin for payment. Bitcoin is decentralized system and doesnt need government approval bitcoin transaction

rumexx

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Every country is trying to see if there is any economic damage to be done to their economy when they approve cryptocurrency in their various countries. If after consultation and there is no real harm to be done to their national economy that country will approve the use of crypto in the space. Bitcoin will now experience wider usage in Germany.

BagzMM

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Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Bitcoin is a decentralized digital coin its not yet regulated from any government. No approval must required it is an online transactions. If their is a regulations from the government that's the time investors must follow rules for implementation.

zoeylee

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Quote from: BTC.Turtle on June 18, 2018, 06:23:00 AM

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

In my opinion, BTC doesn't need an approval from its country. Transactions are made online and it is a decentralized digital coin. But there are also countries banned BTC maybe they want to have regularization for security purposes.

Silberman

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Quote from: Larva14 on June 20, 2018, 05:46:54 PM

Quote from: Yantoaja on June 18, 2018, 08:01:00 AM

Bitcoin requires the approval of a country because it allows bitcoin to be used in the country as a payment system, or as a substitute asset. If the country does not allow bitcoin, then bitcoin can not be used at all in that country.

Yes, bitcoin requires to be approved in one country for there security of the investors, and many investors are willing to join here cause they know that bitcoin is allowed in there country are legal cause bitcoin is a substitute asset for them.

If investors require the approval and regulations of the government to invest then they are not the investors we are looking for, they are only looking to make profits, even if many people here want the same we also believe in bitcoin and its potential to change the world, while those that are asking for regulations do not really understand what bitcoin stands for.

BelieveInBTC

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Bitcoin does not require approval from countries in order to work. Bitcoin is decentralised and can't be blocked thus anyone can use it wherever possible. It would be wise to use VPN in order to hide your IP while broadcasting transaction. Approval is needed to attract more investors. They don't want Bitcoin to be banned, they would lose money.

tambok

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Quote from: jake zyrus on June 22, 2018, 04:11:37 PM

Quote from: pocket_lck on June 18, 2018, 08:09:33 PM

Because by agreement it can make people more trustworthy in putting their assets in bitcoin and it can make or have a good impact on bitcoin prices and also smoothness in trading or in transactions in the purchase of goods and services.

In my opinion I think bitcoin need approval in every country cause every government want's to protect there people from scam, hackers and bad people using the name of bitcoin in there illegal transactions. If bitcoin got approved in one country many of men there are trust to bitcoin and got to interest to make an investment.

That is right, despite the fact that bitcoin is anonymous in its nature and decentralized still we have to seek for the support from our government since they know best for us and it is for our protection from scammers as well.

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