Bitcoin Forum

Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?

What are these "many" issues right now? slow network and expensive fees?

I agree on this but not all the people inside the community are going to help and there are people who are part of this great community are the ones who are giving FUD by questioning some problems that it shouldn't be an issue for bitcoin.

I thought you're going to say fees and network but what about with legality? bitcoin is decentralized whether it gets legalized or not it will remain as it is.

Massive adoption and demand.

Actually I don't think that legality is an issue as you can track every payment and if you develop good algorythm you can track users and be correct like 80% of for what purposes they use their money. This is because majority don't care about the mixing their coins. In some countries it is legal, in some it is not and in some it is in somewhat gray zone/gray area but ultimetly even if it is not legal you can still use it to pay for goods and services or yet to earn bitcoin online. Nobody is stoppoing you and from this year many companies actually include bitcoin payment option which is great if you have some and are looking to spend it, no need to transfer to fiat - use it directly.

I think that goverments, at least one with the msot power, regognize bitcoin even now and with rasing adoption others will take notice as well.

If government have fully control over it then it will loose it's important feature of decentralization. But, taxing may encourage people to invest in this.

so far you have only mentioned one thing and called that an "issue" but yet you claim there are "many issues"!

that one thing is not an issue that bitcoin is facing. it is mostly fake and in some cases it is an issue that some governments are creating for their people.
to begin with bitcoin is legal in most of the world. there is only 2 or 3 countries that have actually banned bitcoin and even there people don't care and they continue to use bitcoin because it is a censorship resistance currency and that is why i say it is not an "issue".

In my views, bitcoin is legal to many countries adopting the use of bitcoin and perhaps illegal for countries that banned btc in such countreis. I think the only issue I would raise is that too much FUD and negativity has been pointing to bitcoin where I think could also affect the btc market and the whole crypto market and this contributes to the bearish market we are now currently experienced. People should not believe in FUD and negative news about bitcoin since these are just ways to degrade btc that could affect the market price value of btc.

Technically its not illegal but govt make it illegal as they have no control over it. But some countries accepted it despite the decentralization process and some even impose taxes on it. I think a little bit of taxes wont do any harm, It should be legalized everywhere because many are waiting for investing on it.

Irrespective of bitcoin being a legal or illegal currency would continue to attract crticism from some people unless probably, a change in perceptions of such people towards bitcoin would cast away the criticisms on bitcoin. Per my opinion, if government is to recognize bitcoin, there would be a good news and the good news is that, bitcoin will achieve a significant increase in demand which will directly increase the value of bitcoin as well as the crypto market.

Governments have very different priorities, [depends on developement/political caracteristics of each country] and decentralization doesn't tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin. This is the main issue of Bitcoin with governments!!
There's also some larger conceptual issues at play here; Bitcoin has proven that it's possible to create money outside of government-based financial systems, which forcing governments and central banks to ask questions about their role in the economies of the future. In my opinion, a digital currency which is backed, issued, and tracked by a government or a central bank authority would not be a cryptocurrency. So, governments and central banks should not have any major role in the economy of the future.

Its true in recent times bitcoin facing some problems like many countries are banned bitcoin. For this reason peoples are afraid to invest on this project. They also take some initiatives for removing this problem. I hope in near future bitcoin will overcome this problem.

I hate replying to threads with all capital letters in the subject but anyway.

The only thing that worries me is the power consumption of the network. All the other small issues can be easily fixed but if "they" find a solution to this tremendous amount of power required for a single transaction, nothing can stop the bitcoin anymore.

Some of the countries are accepting bitcoin.. Legality is not an issue, its just the government wants to control bitcoin..

Bitcoin can't be fully legal worldwide, some governments actually dislike the use of BTC and the crypto, for them because of BTC's anonymity and being a decentralized platform, governments would not be able to control or manipulate the flow of BTC, in simple words they cannot control BTC, because of this governments would instead mark BTC as neutral or ban it from their respective countries. What happens when BTC is banned on other countries, people then will be asking WHY is bitcoin banned on that country, then after that media can either spread negativity about BTC being used for drug, weapons and other transactions because of its anonymity, people then will start to stay away from BTC and recognize it in the most negative way possible, though we should not blame these governments, but we should be blaming the media and other influencers that spread negativity around BTC, though those negative thing about BTC is true, but I wanted to let these people know that positivity is also flowing around BTC, do not think of it as something only used in cruel ways, its also used in the most positive way possible, people have closed their minds about it and therefore would be hard for us to let them know that BTC will help us, this is the issue, the issue that we need resolve.

The biggest fear for government is that bitcoin can be used in illegal business and they can not detect it because of the anonymity. That's why some countries forcing laws on Bitcoin. But I personally against the regulation of cryptocurrency as if it happens then there is no difference between cryptocurrency and fiat money.  

- The things you give are not practical for me. What is the impact of Bitcoin and what is the most serious?
- Together with the Bitcoin community, it is worth supporting, but how?
- The government accepts Bitcoin as a precaution. This is really what everyone expects, when?

That affect the price now is not news about the legality and regulation bitcoin in some country. more to the problem of people who do dump and hacking issue. and as a ordinary user that can be done and may be just sharing and good news of bitcoin as well as its benefits. even the facts there is many Popular media already trying spread good new about bitcoin its not give much effect for right know . its market effect no one can shutter.
Most of goverment in many country for sure already realized this phenomenal. even the smallest country that is arguably less adaptable to the technology many already know what bitcoin is and they are more likely educate people too avoid this. because the fluctuative price can make thier citizen bankrupt or loss everything. they just mention price but didnt mention benefit of bitcoin it self.

Bitcoin is currently seeing a sequential decline of below 6k. The news that FB and TW and then Google prohibits the sale of tokens has a direct impact on the market. This is what I see most clearly.
Letting the government realize that Bitcoin may take a long time. But it would be better for us.

Bitcoin has been facing a lot of issues since the beginning only this time people who are against it are more willing to pay black propaganda to destroy it knowing how potential it could destroy the current fiat currency..

Legality of bitcoin is not an issue here because it won't change the nature of bitcoin and how it operates. The fact that some countries allow it to be traded and for it to have been discussed in high level international summits show that it is well recognized. As far as I am concerned, fee and speed are issues.

Yes, many investors believe that one day Bitcoin will be legalized. Bitcoin will be used side by side with fiat money. But for that day to come, still a lot of time and acceptance is required.

Some countries have already legalize bitcoin in their country, while other are thinking about it, i think that a number of issues are there related to bitcoin, but i think that the main issue in current time is the transaction timing and the transaction fees, i think we need to resolve these two important issues if we want bitcoin to become more popular.

I do agree that bitcoin is suffering from legality issues by the government and it is time the government should really accept the exchange medium because it is favoured by so many users. If we look at coins like PRG, ICX, lisk etc, they are working great and prg for example is dealing eith cannabis which has healed so many people.

I think bitcoin should be made legal. Some countries have already legalized it which believe that their economy is benefited by it. Other countries still need to know its importance. Coins like TAU, ADA, POWR are working assiduously and they will definitely bring a change once accepted by the countries.

No doubt, legality of the bitcoin is a hotly debated issue these days. When will bitcoin become legal, what will happen if bitcoin will become legal, blah...blahh... Now it is pretty much clear this current issue regarding bitcoin which was vague, years back, has been resolved at so many places now.

Legality of bitcoin has been accepted is now accepted in so many countries. And this welcoming acceptance by those countries has borne positive results only. Japan is a quintessential example for the same. I just hope all other countries also recognize the fact that how  important is it to accept bitcoin for the strengthening of the economy of their countries.

I think the opposite will need to happen, bitcoin will first need to have a much higher demand and then only will government maybe make it legal. They wouldn't legalise it first without any pressure as bitcoin is kinda detrimental to them

If the government will recognize bitcoin and legalize it, we can see a high increase of his value and a lot of people will start to use it, I mean new members, so the community will grow and automatically with this increase of people, bitcoin price will increase so much and we will pass this bad situation, I hope that the government will take this too seriously and rethink about that, because if think correctly about crypto, they will benefit from it so much in the long term.

that's true, but the fact is some always make a bitcoin related ban. If the bitcoin is legal, I think the bitcoin value will be back to normal and the market will be picking up more new investors. but it is unfortunately still a dream only. whatever happens with bitcoin now or later, I'll stick with it!

more of countries accept the bitcoin currency and there is a line longer for legaliced it.but people are worried & heard different types of news.this is a main reason create problem now a days. l think & have hope bitcoin will  go up from the bucket of problems.

Bitcoin doesn't need to be legalized, because it's decentralized and a store of value not money , money is different to Bitcoin in all manner , because money is control by government and depreciate in value cause of infinity in supply while Bitcoin has max supply that must be mine.

Bitcoin is a digital, decentralized currency which is created by using modern technology. It is created just ten years ago. During this period it had to fight against different situation. After a long battle it has started to get its success. Now it is the world’s sixth currency. Most of the first world country has legalized the currency. Bitcoin ATM has been installed in many country and the number of ATM is around three thousand and two hundred. Many multi national company and E-commerce site has started to accept bitcoin. It has created many employment all over the world. I think this issues can be spread to increase the popularity and legalization of bitcoin. And it will be huge for us if all government legalize  the bitcoin.

We all keep talking about this legalization almost every time. Is it really the issue? I haven’t heard of someone complaining about him/her being prevented from using bitcoin. I think we users are part of the problem. We hide and use it as if it’s a criminal activity. Let us feel free to make the public aware of bitcoin without any intimidation. Let’s be proud of it. Let’s use bitcoin to sponsor projects outside the crypto community. For instance bitcoin could have being a co-sponsor of the ongoing World Cup. These are the things that will make bitcoin well known and accepted by the entire public.

It really doesn't matter on what we think. What matters is the thinking of the government and regulatory authorities and you can presume that they don't think very highly about bitcoin in any way. Legality was always an issue with bitcoin or any other major cryptos. It was always there, so I really don't think legality is the issue due to which the price is going down. There must be something else which we are not able to understand currently. Legality is obviously one of the ongoing issues, but still struggling to understand the rest of the story!

basically btc was fully innovation for world which shatoshi made in 2009 based on this before btc price was high but in 2018 the price of btc get low so we should do something to improve this price and reputation and also make govt. know its benefits and I also support this issues.

It's not really bitcoin's legality or regulation per se.

That is totally out of our control as a community, imo. The government will most likely regulate all the third party bitcoin service providers sooner or later, and the extent of these regulations, what they are etc. are most likely out of the control of bitcoin users alone. Plus, the effects of regulation or a country explicitly having bitcoin as "legal" instead of holding a neutral position is often exaggerated. Bitcoin is decentralized after all.

The major issue that I see is still not enough merchant adoption. Not enough merchants accept BTC at the moment, which is why a lot of people think that bitcoin is moving away from being a currency. I see this getting better with time, though.

How legit bitcoins are, is not as issue here that needs to be addressed, since the transactions can be traced with the aid of a good algorithm. The level of strictness varies from country to country. But still, a lot of companies are taking payments in the form of bitcoins, legal or not.

Yes bitcoin is currently having some issues like high withdrawal cost,low price etc. This things can be removed if the crypto lovers work dedictaedly to improve the condition. We will have to stop spreding FUDs and arouse positivity about bitcoin

Government recognition of bitcoin will go a long way to deal with the issue of legitimacy of bitcoin, because since the government is standing against bitcoin it can never be recognized as a legal entity, bitcoin will one day attain that height some days.

Now supporters should come from the countries that the price increase come. Otherwise, it seems to stay in this price range for a long time.

the issue of legality does not seem to matter to bitcoin. Why? Consider, countries with advanced economies have allowed bitcoins. For example US, Canada, Australia, UK, France, Netherlands, etc. Some require KYC for exchange developers.
If they have been able to set the user activity of bitcoin whether another country cannot?
So in my opinion, this legality issue has no effect on the traders' emotions. There are other issues we need to learn.

Yup. We know some time ago reported that there is a mysterious whale from Asia who did a massive adoption of bitcoin. I think this legality problem is not working to get Bitcoin into a deep sleep. The new FUD news will be increasingly being created to be adopted by the popes. The presence of these whales actually benefits small fish. Because market activity will continue to grow.

Ya bitcoin face many issues like some country ban bitcoin coz the govt. Cant accept the crypto currency but in future all the issues are vanish and bitcoin become popular day by day.

I don't think the main problem with Bitcoin is legitimacy. At this stage, the community is still immature. The main problem with Bitcoin should be technical improvements and breakthroughs. How to get more people and more industries to adopt Bitcoin is the most important problem now.

I think, now the problem of bitcoin is flucfuative market prices that can rise and fall quickly without being predictable. the first problem that always exists in bitcoin is that prices go down drastically so that many people leave bitcoin.

Yeah, so many people are now afraid to invest on bitcoin because its price always go down when it pump a little bit it will dump so dip thats why new bitcoin investors are afraid to invest now. After a very successful 2017 bitcoin still not good at the moment.

When governments can finally accept bitcoin, im sure that they will get the advantages of bitcoin's system.

"The government is on it and the government to guide. We do not have to argue with them, you will lose anyway. We need to negotiate! We can defend the bitcoins if we buy them, and not sell them! The government can get excellent benefits and economic development when working with the crypto currency.

Today's bitcoin issue as well as before is having a high fees. In some exchanger and different wallets, you need to consider also the fees in able to use that. And one major issue of bitcoin today is it's value. We all know the crisis bitcoin is facing today. We must know how to cope up with it and believe that bitcoin price will soon rise again.