Bitcoin Forum

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

I think if many people are using Bitcoin to scam people and use the coin illegally we cannot convince countries to legalize Bitcoin. Bitcoin holders must be disciplined first, but as long as scammers are present it would derail the aim of Bitcoin.

Not everything is black & white, but I do agree on most points.

Thing is (and people / media often seem to "forget" that), banks and other methods of exchange have always been used (and still are) for all kinds of purposes. Scam? Yes. Legals stuff? Yes.

In the end of the day, will there ever be any way of exchange, that will be 100% scam proof? Legal does not equal secure. Regulated does not always mean "nothing can happen to you".

I'd sure love to see a future like in Star Trek, when everybody had some universal income and everybody worked for everybody..but long as there are greedy people out there, anything can and will be exploited.

Short answer, yes. Governments should work on accepting and legalising Bitcoin.

governments are rarely going to be totally truthful to their public, what people usually get is "part" or "half" truth

scams are everywhere, and indeed good government should do its best to educate/protect people from being fleeced, mainly educate, as people do need to learn and understand for themselves that some crooks are always going to be out there ...  self vigilance is best practice

are cryptos being used for scams?  yes, in some cases, of course, but most scams are still perpetuated by crims using fiat ...

problem reaction solution, government steps in as your big bro and tells you crypto is "dangerous" and therefore must be increasingly regulated

the present bear market in cryptos is due to increased adoption/recognition/regulation, mostly because governments are now getting involved

yes, bitcoin and cryptos are the future, they have the potential to change the world for the better, but the fact remains that fiat currencies are what people need to live off of, and pay taxes with

the real problem for bitcoin, and cause of its decrease, is government - government wont change (easily, quickly), they impose capital gains taxes on their people, those lucky enough to have invested in bitcoin and who want to enjoy their profit now are facing huge tax bills (capital gains taxes are like taking food off an investor/capitalists plate, they are the worst taxes of all)

so, people are having to sell btc to pay their fiat taxes owed, now, also, many governments have assets levels to restrict/enable people to recieve some welfare money, many people rely entirely on this, or partly on this, so - as governments take away payments from people, because they have "too many" bitcoin, people have to sell those bitcoin, in order to replace the fiat taken away from them in income ...

The governments will get involved no matter what you decide. They have a duty to protect the consumer and they will quickly

react if the consumer is being exploited. The SEC was inundated with consumer complaints about scam ICO's and they quickly

reacted to that. They are even looking into market manipulation now, so you could guess what triggered that. They do not

have to look for a reason to intervene, there are a lot of reasons for them to do it.  ::)

We do not need to convince the government to legalize Bitcoin, with the use of good and correct Bitcoin by the users themselves, we are sure if the government will legalize it, which in pity is there are still people who could have misused this crypto currency.

yep, the genie is out of the bottle and isnt going back in, crypto and govt are married now, it was always going to be inevitable, crypto investors thus need to realise that the tax and social pensions (asset tested) systems are going to be responsible for much of the bearish price action in cryptos, both now and in the future, the tax grab and public purse are older, and far stronger, than any crypto revolution 

I'm not sure the government will make the bitcoin legal. they do not want their people to use the currency they do not use in accordance with the law made by the government. if the government approves the use of bitcoin it can be used by the community. how the fate of the government currency they make legitimate?
for bitcoin users if you feel someone is going to commit fraud. must be careful in using bitcoin currency.
all there will be fraud perpetrated by the people out there. the government's original money is also they commit fraud. and it depends on you how to use it and always be careful in making transactions

The right thing we should do to persuade the government is to make bitcoins useful and make them beneficial to our lives so that their government will recognize the value of bitcoin and they will acceptable bitcoin legally

At this point, there is no going back truth be told that what has been done cannot be undone. I have been a victim of scam before and anyone who has been in that by any form whether thorough investment, exchange scams, gambling site crash or an outright scam would want to see that something is done to reduce all of this atrocities committed because of the 'anonymity' that surrounds bitcoin.
Personally, I think the discussion has gone beyond whether its the right thing to do or not. What we should be concern about is how will the regulation be implemented? Today we have various degree of KYCs asked by service providers depending on the direction they feel they want to torment their customers without anybody calling them to order that is where we need regulators to hold them accountable for the information they collect and how they should go about its use.

You should know that we can suggest but the final decision will be made by the government only.
The fact that they are legalizing the Bitcoins really means something else , it means that they are going to regulate it according to their rules and regulations and then take care of everything by themselves , its not like they will adopt anything as it is , it is a far fetched decision but for sure that is not gonna happen .
They will take whatever features are good for them and whatever features they like and then force the public to go according to their will.
I don't think that it's the threat to the government since they are regulating it so close.

Of course thats the right thing to do as without the governments legalizing Bitcoin and creating a framework and laws regarding the crypto currencies the institutional and bigger investors aren't going to enter the bitcoin markets, which is needed to get Bitcoin into the use of every person worldwide.

Bitcoin is holding its success every moment and some day it will reach the summit of success and at that time government will autometically think positive about it.

bitcoin is already legal. you can't legalize something that is already legal!

no I disagree. you are hanging around in circles that focus on the scams that has happened so all you have seen is the scams and nothing else.
besides if there are a lot of scams happening it means that bitcoin has grown too big and has a lot of usages and a lot of users that it has also attracted scammers. it is like fiat that has a lot of scams and scammers, more than anything in the world because it has the most amount of users.

That is why we need to ramp up our information drive, they have always feared the unknown and have always shied away from those that they don’t understand and this is no different. That is why it is needed we have to be alert, patient and active in ensuring what we can do even as individuals. People need to understand that we as cryptocurrency users stand by bitcoin and we do so by having the knowledge that it is not what they think it is.

I think it's just that it just does not want to get involved with this because it's hard to control.

First of all I don't agree that governments want to save us from crypto currency scams,all they want to save themselves from economical crisis,of the crypto currency got more developed and used by everyone then the revenue of the government will decrease so they want to control the crypto currency and looking to earn more from high taxes.

To date, in many countries, Bitcoin is not the official currency. It’s one of the reasons why most countries still require users to pay income taxes, sales, payroll, and capital gains tax on anything that has value including bitcoin. It is our responsibility to ensure that we comply with any other tax and legal rules or policies issued by our government and / or policy makers in our area so that Bitcoin in the future will gain not just legitimacy and legalization but also sympathy from many countries.

scams doesnt mean its always bad but  it has done a negative view on bitcoin. legalizing bitcoin and a way to promoting in using it in a country shows that the government is open to new methods of a currenbcy in which can be used in markets.

Our government are really has a good reason why they need to banned and not legalizing Bitcoin to their country and how sad that the reasons of bitcoin being banned is because of the people that doing foolish and scamming things to others just because of money. Bitcoin will really can help our community and economy but how it can be if it's been totally banned by our government so I think the best solution to this is to convince those people that scamming and do illegal activities that stop using Bitcoin to their wrong purposes instead using it in the right and proper way and absolutely they can also gain a lot from it.

I understand bitcoin is not legalized by the government is that the government is afraid the bitcoin role will replace the paper money and if it happens the government-owned stock will fall and switch it all to bitcoin. the government certainly does not want to lose it all, then the government began to examine the bitcoin so that the government is not harmed

There are so many scams around us in recent time and to save their citizens, govt is not accepting cryptos. I am agreed with you. But think about the features and natures of crypto. It is really like this. Authority is not acceptable in case of decentralization. So I think if govts. legalize crypto, then can take so many initiatives to train their people in order to make them more knowledgeable and aware of the scams.

Your thoughts are actually true and we all know that government will only prioritized his citizens that's why they are no longer accepted and legalized bitcoin in some country. In addition, it is hard for the government to decide immediately since in deciding can take an hours, days or sometimes week. Because when you decided with something you need to take the risk it may bring.

I do not think the government should ban bitcoin either, the government should support the existence of bitcoin, if bitcoin is supported by the government, it will further enhance the reputation of bitcoin.

Any government is the worst illegal or criminal band in its country, and money issue is a great trick and for sure that they dont wanna allow use something uncontrolled and unregulated, people just need to be smarter to make their own choice and dont rely on the goverment.

The provision for legalization of cryptocurrencies is not necessary, government has it's regulations we don't want bitcoin users somebody manipulate our private holdings must better to remain privacy and safe rather than we always pays taxes other personalities will enjoy our hard work .

Doing to convince government is just like we are fallen and ask a help from them looks like we made and agreement dealing with 50/50 interest.

Yeah we are doing exactly right that crypto currencies will become legal there are many aspects that both users and government can have benefits on it in the field of economy and the technology awareness.

We are on the right track and crypto community are doing the right thing it is the authority who get lapses because until now they are not able to regulate cryptocurrency.

I think the problem is that the government rejects something that it can not control. If there is no control, then they do not need it, that's their logic. They do not care about fraudulent actions, this is just an excuse, they are looking only for their own benefit.

Legalizing bitcoin is right. It is advantageous for us to be protected from fraud and other bad intentions. But the problem is what type of persons are in the position?

I think we don't need to do that, convincing our government to legalizing Bitcoin because I know that the time comes that the government are realizing that bitcoin and it's system has the real purpose of giving benefits and opportunities to people and not by being a cause of making way of doing or making illegal activities be possible. Actually bitcoin doesn't have a sin to those illegal things that happen because it is just a system and it can operate without using by people so there's a fact that we as a people is the one who do the sin. I hope and I believe that the government will realizing it soon.

If in a country many people use bitcoins to scam other people and they use is illegally then the government will never be convinced to legalize bitcoin. There only should be disciplined bitcoin holders to take bitcoin to the future.

They claim that they are doing this to protect their people from fraudulent activity but in reality all they want is for us to pay taxes. Question is if they want cash or btc when paying taxes

In recent times there are many people’s are using bitcoin. For this reason its popularity increasing. If bitcoin maintain this performance i think government will accept bitcoin. Now wait and watch what will happen.

Convincing governments to regulate cryptocurrency is the right thing to do. Bitcoin will never go mainstream without recognition from government organizations. Seriously, how can something become mainstream by staying underground?

should not bitcoin require regulation because I think bitcoin is very legal and bitcoin should be free to use anywhere if the government is concerned about the legality of bitcoin seems to be because bitcoin is getting famous.

Mainly Crypto currency is a digital money which you can use in online based work based on this crypto currency is accepted in many country but few countries are against it its matter if we let them know about its benefit and future I guess they can be convinced if they then we all will be benefited.

Yes,  you are right. The government is right for this criminal activity on their part. I think the government needs to put some restrictions before legalizing cryptocurrency.

I agree with your thoughts, but at least the government is looking at different sides to better understand the positive impact of cryptocurrency. If viewed from the technological developments of the last few years very rapidly may be more rapidly in the future, with the existence of cryptocurrency will be very helpful so that we do not lag too far with the state that has legalized bitcoin. it's just my personal opinion maybe the government more regard cryptocurrency as negative thing i don't know ::)