why some country still not legalized bitcoin ? - page 5.

Tumanggor

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1xBit.. recovered their reputation

Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

I think they just plan to make the price of Bitcoin down, we all know that Bitcoin prices are not currently unstoppable,

so what should they do to reduce the price of Bitcoin,

they issue a policy policy that makes panic sell, so any issues that will air better sell your Bitcoin

CasinoKiller

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Legalizing it means allowing its citizens to mind their money freely. Some regimes just can't allow anything like this

RoadToBTC

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In my opinion,the most common reason because all bitcoin exchanges that allow users to trade anonymously, therefore, can be used to launder dirty money, sell drugs, hide from paying taxes, exchange and pay for illegal activities...also,there is no authorization to purchase foreign currency from financial institutions or to transfer foreign currency across borders on the basis of transactions with virtual currency.the meaning is It is illegal to use any kind of currency that is not issued and controlled by a government or an authorized entity...

Cranidos

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Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

Some Government are just seeing stuffs others do not. The countries that banned Bitcoin in their sovereignty saw something that might affect their economy as a whole if they keep on accepting Bitcoin. Others still continue to support Bitcoin because they benefit from it. Those might be the simplest reason for this type of scenario. Though we cannot know for certain what the real reason is.

rahul10948

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Government who want there people to grow with technology without the greediness...has already legalized the bitcoin...but country like north Korea want only there currency to be strong..they don't care about the people and the demanding technology....its a bitter truth but not everyone going to accept bitcoin in any cases....but smart government already taken their step to success and growth

DrYe5

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Quote from: ?? on ??

Some countries fear that thy might loose their control over citizens if they allow bitcoin.They might fear that bitcoin would be used for money laundering.

In my opinion, the governments of these countries are afraid of taking over the Bitcoins over the prevailing currency. I do not understand some of these activities, but apparently they are so. This information was given to one of my friends who had dealt with the situation in those countries.

soul-impact

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Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

There are a lot of things turning this issue around, although the bitcoin ban in some countries is not good, however, I think it's an option that the government thinks is good for their country. And the reason is probably bitcoin management, it's too hard for many countries.

otandelapaz

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Possibly because it's not yet popular to that country. Lawmakers are not paying attention to it because there's no relevant effect to it's economy yet. Here in the Philippines, there are only few people knew about cryptocurr, most does not even heard about it. Thanks

googlebtc

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it depends on its own government as where bitcoin can legalize or it is unlikely they will not accept bitcoin as a substitute for their currency and still many countries have not been able to ensure bitcoin.

hitrawal91

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BitcoinSN - The Real Bitcoin!!!

Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

First let us see where the news is coming from if we are taking this news really seriously. Next thing is that the big countries like japan has already plan to make bitcoin legalize in their country as they knew how can they make their country economic growth grow step by step.And it might be that Russian are planning to ban the bitcoin so that they can make necessary rules and regulations for using the bitcoin in their country in safe and easy way. The ban might be temporary, they can't ban the blockchain technology, instead they might be planning to start their own new coin for trading,import and export business,and also it will strengthen their economy. In future, only the time will tell you which country is planning for making it legal and which one is trying to ban it,let's see it.

Frank0209

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As I there are only few countries around the world have legalized Bitcoin already and the rest are not cause they are still developing countries or their technology still not developed enough to control Bitcoin and avoid Bitcoin taken advantage to commit crime. As everyone know Bitcoin is very secure and because of this secure Bitcoin is often taken advantage to do bad things like tax evasion, drug trafficking and so on. Because it's not easy to control Bitcoin to not taken advatage so there are a lot of countries still not legalize it or maybe ban it. But I hope that in the near future Bitcoin will be legalized worldwide Cheesy

shata

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Quote from: KingKrypto on October 18, 2017, 09:37:30 AM

Quote from: cleofila on October 17, 2017, 12:55:33 PM

Meanwhile in Russia Putin sees the crypto currency is very dangerous to safety because it would be worst scenario for increasing of laundering of money. The offshore are no more reabile things due to recently scandals at Malta.

What do you mean, Russia is gonna have it's own cryptocurrency pretty soon.

Bitcoin is anonymous and easy, which means it's a favorite among criminals. Just how can you protect yourself from some bitcoin scammers and should bitcoin face higher regulation to prevent criminals from being able to used the cryptocurrency? In fact, there has been an increase in ransomware attack in other countries. The very nature of bitcoin makes fraud prevention hard, one of the biggest factor being there is no way to retrieve bitcoin that has been stolen and no way to revert the transaction. These are few of the reason why some county still not legalized bitcoin.

azuremoontears

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Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

maybe because it is decentralize and not taxable which makes it somewhat not part of any government so more likely they would not be able to legalize something not part of their laws.

LuciferAB

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Bitcoin is a innovative thing which help people rich in many countries it mis legal but some countries it is declared as illegal. I think these reasons may be cause.firstly Bitcoin doesn't pay any tax to the government so it may be a cause . Secondly the government might be thinking if bitcoin legalised they might be loosing their control on their country economic. Thirdly bitcoin may effect their currency value in the international market.

Jaydeepjani

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In a way Bitcoins reduce the importance of the country's economy and maybe that must be the reason of some of the countries did not legalize bitcoin

HarleyQuinn9876

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Quote from: wellsontheja on October 17, 2017, 08:45:41 AM

I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?

If the government accepts bitcoin, bitcoin will be widely used. Then bitcoin will replace the other currencies, the national currency will devalue. In addition, bitcoin will have a strong economic impact. The country's economy is very difficult to control

Kronos21

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Quote from: ?? on ??

Bitcoin is still illegal in some countries for many reasons, I think that’s because some of these countries are having trouble to control the bitcoin. because it’s uncontrolled and there is a possibility for a new way for crime activities, those are some other reasons that I often hear in the media.

The government do not want the legalization of bitcoin because I don't want to people to have freedom. They are not interested in that the society was self-sufficient. To manage people which are from you much easier. 1% of users will not have any effect even if they will pay taxes.

solarion

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Quote from: BITDV on October 24, 2017, 12:18:55 PM

because Bitcoin is considered as a threat to their country's economy, with its volatility Bitcoin could incur great losses to Bitcoin users in their country. and also by legalizing Bitcoin the government needs time to study it while the country's priorities aren’t fixated on such small things, especially in developing countries that they still have to improve themselves and also improve their unstable economy.

Do you feel that share market and mutual fund not volatile to invest but many government sector and banks are been invested in those then why should think that bitcoin is the evil for the government and country's economy will not fall at all.
If crises or bankrupt on any government they Fiat economy also fall down dude. Nothing is stable you can invest on bitcoin since it's shows growth in a year itself.

BITDV

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because Bitcoin is considered as a threat to their country's economy, with its volatility Bitcoin could incur great losses to Bitcoin users in their country. and also by legalizing Bitcoin the government needs time to study it while the country's priorities aren’t fixated on such small things, especially in developing countries that they still have to improve themselves and also improve their unstable economy.

EddyGameta

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because the conditions in each country varies, especially the market conditions. legalizing Bitcoin will not surely provide benefits for the country, and vice versa. their main purpose of making that decision is for the benefit of the people as well as the country itself, for example if they think Bitcoin is very risky and could make the people who use Bitcoin suffer losses and it eventually will lower purchasing power and welfare of its people.

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