Topic: Will Bitcoin will be declare as legal or not ? - page 13. (Read 7351 times)

It's tough to predict the future but I would have to side with the thought that they will keep it flowing. it's great for economies simply with the technology alone.

To our knowledge, Bitcoin has not been declared illegal in most countries. Although there are some countries (such as Argentina and Russia) that strictly prohibit foreign currency. Other countries (such as Thailand) restrict certain currency entity entities such as Bitcoin exchange.

I just find it strange that a government would try to legalize and regulate something they ultimately have no control over whether regulated or not. Besides, it's the world bank that would have ultimate control because the world bank controls the actions of banks in most every country.

In my opinion the Bitcoin's rule will remain at one place and government rules will remain at one place .
Because if it get legalised or even get regulated then still we can use Bitcoin for the trading as well as for payment worldwide .

If other countries keep adopting as Japan did, it may pressure reluctant countries to allow it. They may not ban it outright, but may allow people to use it informally. What I think will happen is that countries will develop their own national coin and blockchain.

I am sure that very soon many countries will take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. May be some countries have already start thinking about the legalization of bitcoin.

With increasing state adopting bitcoin and declaring its legality certainly makes the foundation of bitcoin system more robust, and maybe someday bitcoin will get its legality in various countries along with its rapidly growing.
And it is likely to quickly achieve stable bitcoin prices.

my Indian friend and of course a bitcoiner told me that this upcoming June 30, India will be legalize bitcoin.
That's good news and we should expect another climb in bitcoin. Hurray! 

I have done so. My account is registered and I personally believe Bitcoin is a good option to rid the world of black money too. Because of its consensus system, it prevents the creation of new Bitcoin. This converts to a deflationary currency too. This can help with India's inflation and perhaps strengthen the economy. Maybe Bitcoin will be accepted soon. Once we make the Indian government aware of the advantages of Bitcoin, I presume that they would accept Bitcoin. I mean they have no reason not to. Bitcoin only provides advantages to them. But saying that, I don't think they would abolish fiat either.

iNDIA  declaring bitcoin as legal is not possible at this time till some country implement it and prove the positive sides they wont take risk and in India the government is corrupt so they wont give bitcoin legal status until they find it profitable for them.

Yes.. Next few years bitcoin and also blcokchain business approve in many country. because its grow up day by day and and people interested more and more. just few days Malaysia country  use 35% use bitcoin.   

I think same as you, it's need time to become totally legal

Yes you Right.  But I can tell this india start work with blockchain .. the are create TCC crypto Currency. ASAP then create new invention for his country .

depends what you mean by legal.. australian, swiss and china have already legalized it

Right Now its Fully ilegal Maybe in the next few years will be legal. Given the increasing bitcoin users and also the practical bitcoin to do the transaction plus the other features that make it easier for bitcoin users. And this time the blcokchain start in india money of crypto currency work in india. Then After few Years bitcoin and also more some coin will legal in india.

For my own reason or opinion,I think It will be declared as Legal in a open country and in an short finance country.Because bitcoin can increase the value of your money and these can help people to rely on their minds in financial status.So I think it will be legalized

the problem is, without 1984 Orwellian control of the internet how would a centralized government declare bitcoin ILLEGAL?

Just from my knowledge of federal legal statues here and how they are passed it requires enormous political capital requiring confirmation super-majorities (2/3) in the house and the senate, an executive sign-off AND a majority supreme court decision.

Basically the enormous burden of proof will have to fall on elected officials and legal experts with 20+ minimum experience practicing in the field to cite good cause as to how and why they should ban the currency, if they even can, how these regulation/criminal code changes will be executed/implemented and what to do with those U.S citizens that have a stake invested in bitcoin in which they have 0 probable cause to seize such as a commodity. Just sounds like even if it was illegal the burden of proof would be enormous to be able to convict beyond a reasonable doubt the use of bitcoin especially when people get better with security methods such as using tor and linux-based operating systems as well as the manner in which they browse (different cpus, thumb drives, changing IPs as well as using wireless that either doesnt belong to you or are public hot spots).

Legally speaking even IF the regulations were CLEARLY spelled out word for word the execution and interpretation of this law (indictment and conviction under a jury-trial giving the defense every legal opportunity awarded to him) is virtually impossible, even for a government as big and powerful as the U.S. Hell even China couldnt do this which is why ppl are finally putting real value and equity (or transferring should i say) into BTC... the foundation of the method of exchange, ledger and storage of such currency is just too sound and the security will only get BETTER over time.

I think most goverment consider bitcoin legal nowadays. Bitcoins growth and transformation is massive with tremendous amount in Capitalization, lot of traders are into it and it will contribute economically of course.

There might be reasons for that.
It is a risk, maybe that is what they are thinking.
Too much of capital is needed. One more good reason.
Being a country with a low value of currency will make it hard to adjust specially their technology.
Japan could do it because they have been one of the countries with great technologies.
It will be easier for them to make good use of bitcoin.