Why Cryptocurrency is not Legalized Despite the Many Benefits - page 6.

livingfree

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Quote from: FrozenBit on September 01, 2021, 04:58:46 AM

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

What a comparison.

It is what people see on it and as well as the governments. A lot of governments don't like it but we're here and does like cryptocurrencies because we see the benefits from it.

Maybe, it's not just really for everyone.

zhelis74

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Quote from: FrozenBit on September 01, 2021, 04:58:46 AM

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

Cryptocurrency still not fully accepted and recognized by every government and the most reason I see for this is because of incapability of taxation. Since crypto is fully decentralized system it is hard for the government to control and collect taxes on every transaction but despite of this failure they can never take down the crypto currency because of its unique blockchain technology system and as as long as there is internet then crypto may continue forever.

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There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

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Quote from: oemar bakrie on August 30, 2021, 09:55:36 AM

how will it be legalized because it can reduce the value of the official currency in our own country, and not all people can understand how to use crypto, and the security aspect is also not there and the risk of loss is also very large..

This may also explain why the cryptocurency has not yet been legalized in some industrialized countries Because some citizens or local people are unfamiliar with the cryptocurency, and it is difficult for them to understand, and in my own country, only some are familiar with the cryptocurency.

Melignya

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Of course there are many advantages, but there are also disadvantages. Basically, some functionality simply contradicts the laws of this or that country. I can tell by the example of El Salvador, they will legalize cryptocurrency from September 7, just people have to understand that crypto is not dangerous, but it takes time, but I will leave a link to the article, I think many are interested in it https://blockster.com/blockdesk/1135_el-salvador-legalizes-bitcoin-becomes-a-haven-for-crypto-start-ups

lizarder

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Quote from: darahjuang on August 20, 2021, 12:06:10 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.

Almost everyone will agree with what you say, regarding the first cryptocurrency is bitcoin, this is in line with what happened and even the truth, since 2009 bitcoin has been talked about by many people to this day.

Bitcoin is the only one that can provide a very tempting bargaining value, many people want this investment to be made, but not everyone can make it happen, bitcoin is expensive not only because of its limited availability but there are other reasons that push bitcoin more expensive for now.

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Quote from: darahjuang on August 20, 2021, 12:06:10 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.

It's not a real deal issue, but it's more about the truth of what happened, so instead of giving reasons or other references to dispute what you're saying, almost everyone knows the first cryptocurrency was bitcoin.

But cryptocurrencies also have positives and negatives that we should be aware of, this is an act of minimizing the risk, bitcoins are expensive not only because of the limited stock provided, but because they have started a long process of refinement, so today bitcoin is one of the best in the world crypto.

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Quote from: tvplus006 on August 30, 2021, 10:51:47 AM

Quote from: ?? on ??

They simply wanted to have full control and it's not possible with crypto currency that's why many countries still unable to legalized this
system they don't want their people to skip thier obligations.

And the fact that they can also bypass govertment laws which is giving this users freedom to what they wanted to do with thier money.

Cryptocurrency can be legalized only if all countries have a single currency and a single central bank. At the same time, the central bank must fully control all transactions in cryptocurrency that are made in the world. But we understand that this is not possible in the near future.

This way it will not be a cryptocurrency any more. One of the main feature of crypto is unregulated from authorities, so if there is a central bank that control transactions, we eventually get a big centralised financial system that is likely to be too slow because of too many requests at the same time, so there is no hope on legalised centralised crypto.

RBLT

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Quote from: darahjuang on August 20, 2021, 12:06:10 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.

If bitcoin became legal, that means there's a Tax to pay each months/year. Bitcoin is the most widespread and best known cryptocurrency. It is a peer to peer, “decentralized” payment system. Contrary to money that is legal tender, Bitcoin is not issued by a central bank or government.

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Blockster has a great article on the history of the beginnings of the Blockster and the Ethereum. https://blockster.com/blockdesk/1217_bitcoin-vs-ethereum-a-brief-history

trauchot

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Cryptocurrencies really change our world in better way, because already all areas use cryptocurrency technologies that develop these areas to new heights on an ongoing basis, and with the help of cryptocurrencies we can make very fast money transfers around the world in a matter of seconds, but the fact is that as we all know, there is a lot of black money in cryptocurrencies because of which most countries do not want to legalize cryptocurrencies and because of this, if cryptocurrencies will be legalized in all over the world, it will take a lot of time, but when this will happen, cryptocurrency market will be very big.

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Quote from: darahjuang on August 20, 2021, 12:06:10 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.

No, there were cryptocurrencies before Bitcoin. There is a patent on decentralized currency by david schwartz dating back to 1988. XRP was created before Bitcoin.

bitcon

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Quote from: darahjuang on August 20, 2021, 12:06:10 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.

To my mind autoritives can’t legalize Bitcoin as they have no control over it. They are used to controlling everything including finances, so they can’t let Bitcoin and other altcoins develop as they are not familiar with these technologies. They will have to change the tax system.

On the other hand, some countries are going to offer alternatives by creating a digital state currency like the digital yuan.

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Quote from: ?? on ??

They simply wanted to have full control and it's not possible with crypto currency that's why many countries still unable to legalized this
system they don't want their people to skip thier obligations.

And the fact that they can also bypass govertment laws which is giving this users freedom to what they wanted to do with thier money.

Cryptocurrency can be legalized only if all countries have a single currency and a single central bank. At the same time, the central bank must fully control all transactions in cryptocurrency that are made in the world. But we understand that this is not possible in the near future.

oemar bakrie

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how will it be legalized because it can reduce the value of the official currency in our own country, and not all people can understand how to use crypto, and the security aspect is also not there and the risk of loss is also very large..

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Quote from: darahjuang on August 28, 2021, 07:48:06 AM

update

Of all those who speculate on this topic, the average reason why Cryptocurrency is not legalized in many countries even though cryptocurrency has too many positive benefits is because it can damage the economy of a country.
If indeed the presence of cryptocurrencies can damage the economy of a country, why are there still many people who continue to carry out trading activities in Cryptocurrencies?

the government of a country just doesn't want its official currency to be replaced by crypto currency. that's why there are also countries that do not legalize crypto currency as a legal tender. but if it's only for trading activities for profit, I don't think it's a problem for FIAT.

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It is definetly because of the CryptoCurrency system is hiding the people details and transaction but the government doesn't want that's crypto currency will be legal because they wanted to Track us and our transaction and these untracked technology is called as Blockchain technology that's the reason you are finding the majority countries and banning and making guidelines against the crypto

darahjuang

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update

Of all those who speculate on this topic, the average reason why Cryptocurrency is not legalized in many countries even though cryptocurrency has too many positive benefits is because it can damage the economy of a country.
If indeed the presence of cryptocurrencies can damage the economy of a country, why are there still many people who continue to carry out trading activities in Cryptocurrencies?

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Many countries have legalised cryptocurrency use in centralized form where government can track its moments. In decentralised cryptocurrency, government has zero control over it and that's why many government's have banned its use. There are predictions that rivalry bw decentralized crypto n government's will intensify in future.

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You are right, there are only two type of coin in crypto world:
Bitcoin
Altcoin
So all other coin falls under altcoin. You are also right on the basis of the increase in bitcoin price, when their is scarcity there will be inflation in price. To buttress what you said when their is need their will be increase in demand and there will be hike in price also..

Topic: Why Cryptocurrency is not Legalized Despite the Many Benefits - page 6. (Read 1117 times)