Why bitcoin requires approval from countries ? - page 9.

Elexsis

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Quote from: darkangel020716 on July 15, 2018, 06:22:44 PM

Quote from: walemil on July 15, 2018, 05:59:55 PM

Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

Exactly, bitcoin cannot be used in some other countries because of that, before a country takes in some business especially when it comes to currency, the first thing that they will do is study and put some regulations from it, approval is the word for successful usage of the said currency.

I think it will took so long if that happens as what you have said approval for the successful usage of currency in bitcoin besides other countries don`t consider bitcoin its because it is illegal and prohibited by the government laws also.

Ava Duvall

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i think the official approval gives people the confidence to invest, it show them that crypto is "official" and government approval gives a sense of security.

Prince Malik

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If a currency be approved in a country This means that it will enter the list of currencies allowed to be dealt with...about the use of bitcoin is legal once you are connected in the network

roll on

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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 ?

Why bitcoin requires for approval from countries? Maybe because its just like you are oppening an business you have to get an permit or permision for oppening an business.

coinnumber

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Quote from: fipper on July 15, 2018, 07:14:41 PM

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 ?

the possibility of approval is done because the government wants to use the economic system with bitcoin because we know bitcoin is a currency that uses advancement of time and technology

Approving bitcoin in any country to my understanding simply means that bitcoin can be used as means of payment and transactions as well, some times it might not be accepted generally. When a country is not accepting bitcoin you can trade it online but you can't exchange it with the country fiat currency so automatically it become useless to the owner.

BennyK

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There are more people out there wishing to invest in Bitcoin but live in fear, uncertainty and doubts about Bitcoin due to the frequent attacks coming from the banks and governments. Once Bitcoin is approved in a country, a lot of investors in that country calm down and are able to invest under no tension and pressure.

collision00

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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 however the issue is individuals cannot exchange it for nearby money or utilize it for installment. After an endorsement from a nation obviously individuals can unreservedly utilize bitcoin locally and trade it for fiat without stressing that you are completing an unlawful movement.

devale

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the governments have record of investment and sources of their countries and in order to business operate with btc or coins their approval is needed By doing this government can stop or reasonate btc with illegal activities.

BountyGram

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Quote from: walemil on July 15, 2018, 05:59:55 PM

Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

I think the approval to other country means its validity and regularization, for Bitcoin to be legalize, it should be studied by the country who will accept it as one of their currency, some countries are adapting bitcoin and accepting it as payments there are also some that prohibited it.

Cowming88

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Bitcoin need an approval to the countries because this is part of the changes and acceptance are also needed, if one country has a changes then they need to make the government rules and regulation so that people will prevent the unnecessary action.

fipper

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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 ?

the possibility of approval is done because the government wants to use the economic system with bitcoin because we know bitcoin is a currency that uses advancement of time and technology

bat11

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Approval of bitcoin by other countries means making it legal to use in their nation. But technically speaking, bitcoin can be use anywhere anytime by anyone with or without approval of their country.

beckspace

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Bitcoin doesn't require approval from every country, but many people appreciate the legislation in their own country and invest more comfortably in bitcoin, which has been approved by the country. In terms of taxation issues, there is a very important problem for people.

darkangel020716

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Quote from: walemil on July 15, 2018, 05:59:55 PM

Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

Exactly, bitcoin cannot be used in some other countries because of that, before a country takes in some business especially when it comes to currency, the first thing that they will do is study and put some regulations from it, approval is the word for successful usage of the said currency.

Techfrog

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Because under their laws, bitcoin can be obsolete if they start putting people in jail because they are using bitcoin, just like it happened on other countries. That is why i do not want to see bitcoin regulated, at least, in where i live

walemil

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Until the time of investment approval, bitcoin may be considered illegal in the country and it has been probably prohibited by the government of the country. The approval is therefore to let people know that they can deal freely in bitcoin and it may come with some guidelines, rules and regulations.

DesiHunterrrr

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Bitcoin is not required for approval of any country but most of the countries banned cryptocurrency that's why Bitcoin is not approved by these countries like China America it is a sad story hope you understand what I am trying to say thank you

Darz299

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Because if a country approves or all it's country to use bitcoin then the people in country will be more free and free to use bitcoin in everyday life,bitcoin can be directly used without having to exchange it first in to the country's currency.And it will probably make people more comfortable in using bitcoin.

wizmo

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Bitcoin doesn't need any approval since it can be used from anywhere and anyone can use it but country does make laws regarding it so that it can not be used for illegal things and they try to control bitcoin by making laws and some countries try to ban because they think that it will affect their economy or they think that it will be out of their control.

jeromix

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Ako Bayot!

Of course it should be ask from the government before a system to be acknowledge. As we all know that the government only want for the good of all the people in their country. So knowing what and how bitcoin works were the governments job before it will be accepted. And so the government had accepted the bitcoin system and made some regulations on it.

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