Topic: Why Cryptocurrency is not Legalized Despite the Many Benefits (Read 1117 times)
While Bitcoin has the potential to upend established dynamics of the existing financial ecosystem, it is still plagued by several problems. Government wariness about the cryptocurrency can be partly attributed to fear and partly to the lack of transparency about its ecosystem.
November 03, 2021, 05:30:25 PM
To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
After the launch of Bitcoin BTC and seeing the success of Bitcoin in digital exchanges and starting to be trusted by many investors, even to the lowest level, other altcoins were born. Maybe the second coin after Bitcoin is Litecoin, please correct me if I'm wrong. Litecoin was launched in October 2011. This means that it is only 2 years after Bitcoin. And there are several other altcoins. However I see the success rate of other coins is much lower compared to Bitcoin.
If only the reason Bitcoin is because of the first coin so the success rate is higher compared to the others. However we see ETH is much younger than LTC and XRP , but Ethereum adoption is much higher.
October 21, 2021, 10:56:32 AM
To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
Bitcoin was the first cryptocurrency, I am not sure about this, but I believe that Bitcoin is the most influential cryptocurrency for everyone, it has laid the foundation for today's crypto market. Legalizing cryptocurrencies is not an easy thing. There are countries that accept Bitcoin but there are still some difficulties. The value of crypto is always fluctuating, so it is unlikely to become a payment method. Besides, countries are also afraid that the legalization of Bitcoin will affect the country's financesSince 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
October 21, 2021, 08:46:46 AM
I don't understand what kind of legalization you want, because most people can still use it by investing and so on, besides using it for transactions it is still prohibited for certain reasons as we know several factors.
and I personally am more comfortable as I am now because bitcoin or crypto is legal but not completely legal, I mean the most important thing is that I can still use it for assets or investments, trading and so on without involving the government or taxes and completely controlled by myself.
actually it all depends on the individual who uses it and uses it well and wisely, and you can still use it for transactions by converting it into fiat which I think is very easy and simple.
and I personally am more comfortable as I am now because bitcoin or crypto is legal but not completely legal, I mean the most important thing is that I can still use it for assets or investments, trading and so on without involving the government or taxes and completely controlled by myself.
actually it all depends on the individual who uses it and uses it well and wisely, and you can still use it for transactions by converting it into fiat which I think is very easy and simple.
October 21, 2021, 08:03:48 AM
To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
Bitcoin was the first cryptocurrency, I am not sure about this, but I believe that Bitcoin is the most influential cryptocurrency for everyone, it has laid the foundation for today's crypto market. Legalizing cryptocurrencies is not an easy thing. There are countries that accept Bitcoin but there are still some difficulties. The value of crypto is always fluctuating, so it is unlikely to become a payment method. Besides, countries are also afraid that the legalization of Bitcoin will affect the country's finances Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
October 21, 2021, 07:51:06 AM
To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.
In the first place you are correct that Bitcoin is the first cryptocurrency that has been boomed for more than 1 decades now.
Then, regarding about your concern question, some of the government country didn't accept the cryptocurrency if the exchange platform
is under decentralized based platform but if it is centralized exchange some of the country they are open for this matter.
October 21, 2021, 07:33:56 AM
what do you mean by not legalized? your post doesn't explain much about it, and it looks like a general description about bitcoin instead. i suggest you google crypto regulation first, you'll find out that government has been regulating the space for quite some time now.
Legalising is based on your own country government. They will do as per their wish. Most important one is tax. If they want some taxes from the people in the pandemic. Surely they will legalise and get a profit from it.But if illegal, huge money in economy will go to individuals.
October 20, 2021, 06:31:22 PM
crypto is useful for society, but not with the government where the nature of crypto itself makes the country not legalize crypto, but all return to their respective countries because there are countries who believe crypto can make their country's economy improve, and there are also enemies in the country's economy
Very well said. The advantage is for the society, for individuals like you and me but the government can also take advantage of it through adopting it and supporting it so that there will be more people engaged in crypto that can profit. And after that, there will be a good amount of taxes from crypto profits and that's how they'll benefit from it. Sadly, not all governments are optimistic about crypto because they're looking at crypto as a medium for illegal deeds. 
October 20, 2021, 05:38:29 PM
crypto is useful for society, but not with the government where the nature of crypto itself makes the country not legalize crypto, but all return to their respective countries because there are countries who believe crypto can make their country's economy improve, and there are also enemies in the country's economy
October 11, 2021, 07:49:40 AM
Simply because the government or bank doesn't trust cryptocurrencies. The government or bank has no control of these cryptocurriences because it's decentralized and they can't be the middle man who control/maintain the blockchain. Thanks to Satoshi Nakamoto who invented it.
Even if it has many benefits still other countries doesn't legalize it mainly because they can't oversee it. But this won't be long and there are already other countries that are starting to legalize bitcoins.
well, profitable for the community, not necessarily profitable for the government or banks. So, I think there are still a lot of things that make cryptocurrencies not as well-understood as governments or banks. Because of this, various regulations were made, and one of them was banning bitcoin as a currency, or medium of exchange, because it was in conflict with fiat. it's just that the adpodsi is very large, making the government not want to close it. I'm pretty sure, even though it's still not legal right now, I think the government will make regulations so that bitcoin or crypto becomes legal but it can provide benefits to the country. Even if it has many benefits still other countries doesn't legalize it mainly because they can't oversee it. But this won't be long and there are already other countries that are starting to legalize bitcoins.
September 26, 2021, 06:15:13 PM
Many countries are to issue digital currencies in their own country, and the Government will consider more. The legalization of the Bitcoin is just a problem. Perhaps there is a better currency than Bitcoin technology.
Bitcoin is decentralized compare to fiat currency so I don't think any currency is better on a decentralize platform, well the government also know this one and that is why they are making necessary moves to stop people from knowing Bitcoin. Yes, they'll create their own digital currency and China already doing this but the difference is that, it is still fiat money and they are still being controlled by the government. There's a lot of things to be considered before making this technology legal, thankfully El Salvador started this already. 
September 26, 2021, 02:28:36 PM
The major reason why cryptocurrency is not legalised in most countries is because of its decentralized nature that is the Government have zero control over it. They cannot freeze it, tax it or since it. And it and it is obvious that the government will never legalize anything they can't control so it is hard for crypto to get legalized.
Which is why I do not understand people that want to sell their coins the movement the government of their country says something bad about bitcoin, what were they expecting? It is obvious the majority of the governments and others that depends on the governments are going to be against bitcoin, this is nothing new, what we need to do under those circumstances is to keep holding our coins because sooner rather than later governments will have to reverse their stance as even they stand to get some benefits out of bitcoin. September 24, 2021, 04:02:54 AM
Many countries are to issue digital currencies in their own country, and the Government will consider more. The legalization of the Bitcoin is just a problem. Perhaps there is a better currency than Bitcoin technology.
September 24, 2021, 02:42:04 AM
Simply because the government or bank doesn't trust cryptocurrencies. The government or bank has no control of these cryptocurriences because it's decentralized and they can't be the middle man who control/maintain the blockchain. Thanks to Satoshi Nakamoto who invented it.
Even if it has many benefits still other countries doesn't legalize it mainly because they can't oversee it. But this won't be long and there are already other countries that are starting to legalize bitcoins.
Even if it has many benefits still other countries doesn't legalize it mainly because they can't oversee it. But this won't be long and there are already other countries that are starting to legalize bitcoins.
September 24, 2021, 12:02:23 AM
Actually not why not, but not yet. In your curious times, the government has actually studied it and is preparing space for Cryptocurrencies, and there are even some countries that are ready and just waiting for the time to make it official.
September 23, 2021, 08:43:59 PM
- Some countries still oppose cryptocurrency, which has not been accepted by all countries in the world.
- Cryptocurrency brings a lot of benefits to people. Its biggest beneficiaries are users rather than government agencies, and it is difficult for the government to profit from it.
- The price of cryptocurrency fluctuates and is unstable, and its decentralization is difficult to monitor and can easily be used for illegal activities.
September 23, 2021, 10:46:11 AM
The simple answer to your question is:
Because they think crypto currency threaten the value of their fiat.
Most countries see crypto currency as a threat to their economy and has they also think its promote spam as its decentralized and anonymous which makes it hard for them to track the exact owner of a particular wallet.
Because they think crypto currency threaten the value of their fiat.
Most countries see crypto currency as a threat to their economy and has they also think its promote spam as its decentralized and anonymous which makes it hard for them to track the exact owner of a particular wallet.
September 23, 2021, 10:25:45 AM
Cryptocurrency brings us many benefits and values, changes our thinking and helps realize wealth freedom, and can be quickly traded all over the world. However, its price fluctuations are unstable and difficult to use in daily life. Its decentralization makes it difficult for the government to supervise it, and it is likely to be used in criminal activities. It is easy to adversely affect the stability of the national economic system.
Well said, even we need transparency but sometimes it's have some backwards too we still need government to maintain the national economic system as you said it's going to hard control it all since it's was anonym and can hard to track, I think crypto much better to become an commodities like today and stay on gray zone and maybe government can utilize the Blockchain technology for the better system. 
September 23, 2021, 10:00:39 AM
This cryptocurrency has been given legitimacy in different countries. However, there are some countries where cryptocurrency has not been legalized. And in those countries where no legitimacy has been given, there are many problemsSo there is no legitimacy in all those countries.
Only developed and developing countries make it legal for cryptocurrencies, while for countries whose financial systems are still not developed or developed for the economic sector it will be difficult to make cryptocurrencies legal. 
September 23, 2021, 09:09:02 AM
It is still questionable the responsibility of bitcoin itself. Who is the founder of Bitcoin? Who is their core team? Bitcoin developer? It's all unclear in the eyes of the government. Therefore even like we who have jumped here feel many benefits. However, the government is still reviewing it all before making it legal.
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