Topic: Why bitcoin requires approval from countries ? - page 23. (Read 1817 times)
approval is good to spread quickly to everyone for acceptance. It's government process. Your curious is not bad but Blockchain technology doesn't stop for anything. Nowadays we know most of the companies like it. However, approval help to get your crypto profit by an easy process like as your bank account or others.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Approval is required for Bitcoin to use Bitcoin and other cyrptocurrencies legally. If they would say it's not legal, people would be still using it, but it wouldn't be legal...
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
actually bitcoin is not registered that's why a lot of countries are not accepting bitcoin . 
You can use bitcoin in any country so bitcoin don't requires any approval from any countries but that approvement can resolve the problems to transfer bitcoin to cash
Hopefully we get to the point where btc will be as often used as normal cash
In our country it doesnt need to be approved by our government but they are not supporting bitcoin as they stated on the news. For me it approving bitcoin or crypto is just legalizing in a country. If government approved it central banks might considere using it.
because bitcoin is a kind of cryptocurrency, it's unreal
Countries will slowly accept bitcoin. Most countries have realized that the demand for electronic money is increasing...
Calling bitcoin electronic money is the same as calling amazon a website. While it is not wrong, it is by far not the best description.
Electronic money is already everywhere. Just a fraction is being paid cash. Salarys, taxes, rent, ... are mostly paid electronically.
Being digital is not the fact which leads to increased demand of bitcoin. It is the trustless decentralized nature without any authority being able to create/steal/control the money.
Dollar bills and credit cards do both represent the same currency, with one being digital.
Countries will slowly accept bitcoin. Most countries have realized that the demand for electronic money is increasing and acceptance of bitcoin in some countries will lead to more countries accept bitcoin as it is a new development trend. We can not deny that bitcoin is growing good
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
Countries "approving" bitcoin just makes it actually legal to use and accept for merchants. correct me if I'm wrong
You nailed it! Bitcoin doesn't require approval from every country. They are just have their own point of view about it and they have warnings with their citizens because it is not regulated. Maybe Germany's recent approval of Bitcoin o ky means that they can see it as safe to invest.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Bitcoin turns out to be a so called brand of fiat or commonly a cryptocurrency, which we are all aware off. Its only downfall is that they are privatise which is somehow a good thing for us but not with some government, and that is where country are looking forward for approval with bitcoin. It is all about the vontrol of the said country towards bitcoin that is commonly became its very own issue.
It is true that bitcoin is in dire need
approval and it is necessary because in order to increase public confidence in bitcoin, and it is great for increasing the value or bitcoin price itself.
approval and it is necessary because in order to increase public confidence in bitcoin, and it is great for increasing the value or bitcoin price itself.
Countries "approving" bitcoin just makes it actually legal to use and accept for merchants. correct me if I'm wrong
But not necessarily, some countries don't consider bitcoin as "legal" (or illegal). Yet, merchants are accepting it as a payment methods. In my opinion, the only benefit I can see from making bitcoin legal is earning peoples trust because people have this idea that bitcoin is used for bad things only (darknet) or that they will lose their money (mt.gox) etc. but after legalization, they'll know they are protected.
Germany for example don't allow setting up ATMs, so this news (If true) could be a step towards allowing them. Either way, you can technically continue to use bitcoin regardless of the laws because of its P2P/decentralized nature.
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
It doesnt really need any approval or be legalized for people from a specific country be able to use bitcoin and even a country banned the use of it people can still use it but the problem is people cant trade it for local currency or use it for payment. After an approval from a country of course people can freely use bitcoin locally and exchange it for fiat without worrying that you are doing an illegal activity. 
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
Countries "approving" bitcoin just makes it actually legal to use and accept for merchants. correct me if I'm wrong
Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
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