why some country still not legalized bitcoin ? - page 8.

Haynes

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 ?

my opinion, a country that forbids bitcoin maybe they are more concerned with losses resulting from bitcoin such as falling prices of paper money or even because bitcoin does not use state tax so unprofitable for the country then the country prohibits the existence of bitcoin.

DoublerHunter

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Some of the country didn't legalized bitcoin because they are still not sure about the legitness of bitcoin and also the profitability of bitcoin because it is volatile and it is hard for them to earn money so if you are a government official of a country and you are concerned about the money of your people then you will not legalized bitcoin that fast because you need to make things sure before trying it.

hessanseen

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I think, within a short period of time. There must be some countries with relevant policies. Restrict bitcoin. However, in the long run, bitcoin ecosystem is the future trend, I believe that one day bitcoin will become the world currency.

Passive Coin

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Why you need to legalize Bitcoin?
There are many things that are not legalized like sex, but people are doing it. Grin

Do you think sex should be legalized, at all?
After Bitcoin, we need hundreds of laws passed to legalize Litecoin, Ethereum and all thousands of coins that come to the market.
People are "educated" by this idiotic media that if gov. do not legalize something it should not exist.

Do we need to legalize saying "thank you" to each other? Do we?

rodel caling

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you can't force the country to legalized bitcoin fast the government officals of some country need to learn how to help in the community if the bitcoin comes legality and how protect the interest of the country to adopt bitcoin as legel but i believe after sutdy and discussion of the government officials about the importance of bitcoin have a possibility to be leget.

Kakmakr

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Governments have a lot of hidden agendas for banning Bitcoin and other Crypto currencies :

China = Wants to stop capital flight and protect the value of their local currency.
Russia = Wants to push their own Crypto currency and eliminate the competition from other Crypto currencies.
South Korea = They want full control < rumours were doing the rounds that bitcoin was hacked in South Korea to fund North Korea>

So it is not always the same reasons for Bitcoin being banned. The political instability contribute to the banning of technologies that might be used to bypass controls within the political environment.

Mandoy

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 ?

When we talk about legalizing a certain currency aside from the legal tender in a country there are many things to consider. Failure to look on those important factors may lead to economic breakdown if not regulated. Thus, before a country decides to accept any currency there must be a thorough study. After the findings and evaluations will be placed on the table the lawmakers will still undergo some intense debate as to accept such currency or not.

chidrawarster

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The main reason for not legalizing is that those countries have their prior importance to the local currency initially. Secondly, its not so easy for making bitcoin legal as the governments have to consult various sectors of business such as financial institutions, industrial sectors, fmcg markets, infrastructure markets & many more sectors etc. Many countries actually think that cryptocurrencies are basically being used for terrorist & money laundering activities as there the bitcoin is decentralized & nobody to control the transactions nor its limit. Many countries have to come on one platform to actually analyse the pros and cons to make it legal & also look at various aspects without creating any financial loss in the near future.

malikusama

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 ?

Because many of the countries are still unaware of its importance or may be their government are afraid of its illegal use and its growing popularity. Another fact is that mostly underdeveloped countries are facing lack of basic needs for their people like water, health and education, so it will be difficult for them to prioritize this thing over those.

traderethereum

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 the government is too afraid that they can not control crypto currency when become bigger than today and maybe they don't learn the point important from crypto currency. i think the other country is still waiting what will happen next with crypto currency and once crypto currency become famous among them, then they will realize and i hope that there are many country will make bitcoin legal to that country so their citizen can trying to get additional income to solve their economic problem.

sandy14350

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because they fear the lose of their financial authority power on fiat currency... already many countries fearing losing of taxes and anti money laundering and terrorists activities been funded by crypto.. but the block chain technology is above all the things.. one or the other day .. all countries shall accept crypto currency

lenovo16

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 some country who banned bitcoin, are those country who experience a bad effect in their economy. So to avoid more problem they decide to stop bitcoin in their country. And for those who not yet legalize bitcoin are maybe country that doesn't notice the existence of Bitcoin in the digital currency.

helars2008

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It will surely be hard for governments around the world to legalize bitcoin simply because of the main feature bitcoin has. Which is being a decentralized form of transactions, leaving not a trace of what has happened for the governement to check. Because of this government will not legalize it since they will not have the capacity to check what transaction their citizens are into.

mk4

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Quote from: culuuton on October 17, 2017, 08:58:50 PM

Quote from: Ariess on October 17, 2017, 08:50:39 PM

Quote from: wellsontheja on October 17, 2017, 07:45:41 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 am not too sure of my knowledge of it. but most of the countries do not involve because of many factors. one of the most influential factors is their national bank. that's what I know

Nothing can stop the rise of bitcoin. It is convenient and dangerous. Once bitcoin becomes a mainstream national standard, the central banks will have lost control of it.

Nothing can stop the rise of bitcoin. right. But alot of things can definitely significantly slow down the adoption. One possibly reason: global ban; very unlikely, but definitely will drastically slow it down as we will most likely not be able to use it in public stores.

Cindy1983

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There are some reasons but I think the main reason for this case is these countries can't overcome the disadvantages of Bitcoin to avoid bad guys taking advantage of it to commit guilty like tax evasion, drug trafficking or money laundering. Beside, some countries afraid that Bitcoin can harm the economy in their country so they still hesitate about legalizing Bitcoin in their country.

Altero

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Quote from: IceOleg on October 17, 2017, 08:48:34 PM

Same reason why most of the countries allow to use only their national currency inside the country. Each country is interested to protect the local currency.

Other reasons is that, they are afraid that they can't generate income and taxes from bitcoin holders. And also of having problem with resources just like internet connections to run this technology smoothly.

hawkins

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because some of these countries feel a loss, and see bitcoin only in terms of losses. Well, bitcoin does not pay taxes, and the pieces are directly given to the exchangers, or miners. because it does, harms the state, and makes it difficult to operate, and repay debt. so, therefore bitcoin is not legalized.

culuuton

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Quote from: Ariess on October 17, 2017, 08:50:39 PM

Quote from: wellsontheja on October 17, 2017, 07:45:41 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 am not too sure of my knowledge of it. but most of the countries do not involve because of many factors. one of the most influential factors is their national bank. that's what I know

Nothing can stop the rise of bitcoin. It is convenient and dangerous. Once bitcoin becomes a mainstream national standard, the central banks will have lost control of it.

Ariess

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Quote from: wellsontheja on October 17, 2017, 07:45:41 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 am not too sure of my knowledge of it. but most of the countries do not involve because of many factors. one of the most influential factors is their national bank. that's what I know

IceOleg

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Same reason why most of the countries allow to use only their national currency inside the country. Each country is interested to protect the local currency.

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