Why only now many countries recognize bitcoin as a virtual currency?

[kryptqnick]

Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.

I really don't see it happening. A few months ago bitcoin was worth around $800. It was mostly not regulated by any laws. In some countries it was forbidden. There were few that accepted it. What changed now? Bitcoin is $1500, but what about its reconginition? Well, it became legal in Vietnam and Nigeria really after the price went up. Everything else is mostly the way it used to be. I think bitcoin needs a lot more time till we can say it is really accepted.

[pecson134]

Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.

I really don't see it happening. A few months ago bitcoin was worth around $800. It was mostly not regulated by any laws. In some countries it was forbidden. There were few that accepted it. What changed now? Bitcoin is $1500, but what about its reconginition? Well, it became legal in Vietnam and Nigeria really after the price went up. Everything else is mostly the way it used to be. I think bitcoin needs a lot more time till we can say it is really accepted.

We users of bitcoins should persuade those countries who were against bitcoins and not using it. We are also partially responsible on what direction bitcoins will take. We can let them know the benefits of having bitcoins as an additional currency through virtual means and you have nothing to lose if you use it. I agree with you that bitcoins had still a long way to go.

[mamaita]

It is because it gains reputation and continuous progression as time passes by. Though it is not fully recognize for certain countries, it does have the capability of being considered as a currency through virtual means. In my country it is still in getting to know phase for bitcoins but it does show signs that despite being slow a tendency for recognizing the coins itself as a currency.

The same thing also happens in my country bitcoin development has not been so satisfactory however, many online sites are receiving payments using bitcoin, I think this is a positive thing for the development of bitcoin in my country

[Pab]

You will not find country what is recognised btc like a currency,it is also much better for btc to not be officialy a currency,in practice btc is a currency

[virasog]

Everything has its own time to get implemented according to the requirement of the country. In the past no Countries thought that it would grow high. Recently even Russia a has given access for bitcoin usage without limitations. Russia was one opposing bitcoin and banned the use within the country. Now it has accepted after a long research on the same.

I think, it was recognized already before that it is a virtual money, some leveled up, they already use it in public market, they use in their daily lives. It is just that only few countries totally using it as their currency, but I guess it was just a pump up that the susers grow so fast. Sooner or later, bitcoin will be used as a real and virtual currency everywhere in the world.

[wxa7115]

Because its price is now sky high then many countries use bitcoin as virtual currency

What you think with phenomenal like this

There are two big issues one bitcoin is completely new concept unheard of before, so people don’t know how to react to it, the second and even bigger issue is that bitcoin is not backed by any country so governments are not very eager to recognize it.

[Zicadis]

reason is simple many countries have come to terms and understand that bitcoin been a digital currency can not be manipulated through hacking unlike ordinary fiat banks that suffer from such attacks

- bitcoin at any one time has a public record of how much bitcoin supply is in circulation unlike the manipulative national currencies we have

-been an online currency it has been running for over 8 years now without any downtime proving its worth

[AUDREY23]

Because of the trend bitcoin is in, there are many curious business related people that want to really try it out that is why I think they have come up and talk to their government about this matter and think of something to use up bitcoin for their personal wealth, I really think it is because of that and the hype of the bitcoin value that is why one at the time countries are trying their best to ride on it, but I think it is too early for us to see the result because there are still a lot on them trying to reject bitcoin!

Usually every good thing does need a struggle, as well as bitcoin takes time and process to be accepted by all circles of society and of course the government.

[xuan87]

I don't think many countries accepting bitcoin yet, because the rules of accepting bitcoin still in grey area, some of the country accepting bitcoin because there are many users and then bitcoin is very useful to do transaction and bitcoin also can give a better economic conditions for the citizen and also bitcoin still got so many potential that can help us to do transaction in the future

[chixka000]

I think that sky high price of bitcoin is not the reason why other countries right now are trying to adopt it but because bitcoin is now getting widely known and their citizens are starting to use this.

[erickkyut]

I think that sky high price of bitcoin is not the reason why other countries right now are trying to adopt it but because bitcoin is now getting widely known and their citizens are starting to use this.

This is exactly true. They saw the potential of Bitcoin especially now that the world is dependent on the modern technology. Almost all of the things now are instant and easy. They saw that Bitcoin might be the future currency. They don't want to be left behind.

[chixka000]

I think that sky high price of bitcoin is not the reason why other countries right now are trying to adopt it but because bitcoin is now getting widely known and their citizens are starting to use this.

This is exactly true. They saw the potential of Bitcoin especially now that the world is dependent on the modern technology. Almost all of the things now are instant and easy. They saw that Bitcoin might be the future currency. They don't want to be left behind.

The fact that it is gaining billions of dollars all over the world on the stock market. Most of the online traders are getting hook up to it and wanted to experience how things works on Crypto worlds

[Eternad]

I think that sky high price of bitcoin is not the reason why other countries right now are trying to adopt it but because bitcoin is now getting widely known and their citizens are starting to use this.

This is exactly true. They saw the potential of Bitcoin especially now that the world is dependent on the modern technology. Almost all of the things now are instant and easy. They saw that Bitcoin might be the future currency. They don't want to be left behind.

The fact that it is gaining billions of dollars all over the world on the stock market. Most of the online traders are getting hook up to it and wanted to experience how things works on Crypto worlds

most of the investors and businessman already see their advancement using bitcoin. They already how bitcoin can make them more rich. Also Japan already used it so some country will follow it soon.

[camelson]

Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.

I really don't see it happening. A few months ago bitcoin was worth around $800. It was mostly not regulated by any laws. In some countries it was forbidden. There were few that accepted it. What changed now? Bitcoin is $1500, but what about its reconginition? Well, it became legal in Vietnam and Nigeria really after the price went up. Everything else is mostly the way it used to be. I think bitcoin needs a lot more time till we can say it is really accepted.

We users of bitcoins should persuade those countries who were against bitcoins and not using it. We are also partially responsible on what direction bitcoins will take. We can let them know the benefits of having bitcoins as an additional currency through virtual means and you have nothing to lose if you use it. I agree with you that bitcoins had still a long way to go.

Countries now the benefits of bitcoin but for making it legal, there are many formalities and rules you have to follow as a country, and to check weather it is useful or not. Users of bitcoin what ever they say does not matter to them. The only problem for not making bitcoin legal is it's source as  source is unknown. And many terrorist organizations may use it as their financial source.

[sotoshihero]

Because its price is now sky high then many countries use bitcoin as virtual currency

What you think with phenomenal like this

There are two big issues one bitcoin is completely new concept unheard of before, so people don’t know how to react to it, the second and even bigger issue is that bitcoin is not backed by any country so governments are not very eager to recognize it.

I think its not only the high price is the reason but the popularity of bitcoin now as a means to send and receive money like in the case of remittances. Also this blockchain technology is something new and its usefulness is being implemented.

[jovs]

Because its price is now sky high then many countries use bitcoin as virtual currency

What you think with phenomenal like this

There are a lot of country in the past that recognize bitcoin as a virtual currency, It is not just famous as what currently Bitcoin have. You are right about the high price of BTC give some factor in able for BTC to shine more and be noticeable by other countries that didn't accept BTC as currency.

I think it's also lack of introducing and publicity of bitcoin. Yes there are many people using it nowadays but there are still mote people that could also used it. But it cannot be known properly. But also itreally depends one ever my country how thet will react and absorb the idea of bitcoin. Wish it will be legalized in many country.

[Amph]

Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.

not much about legalization, it's more about regulation, there are in fact many country that have already legalized bitcoin, but they have not regulate it and don't see it as a regular currency

only japan see it like fiat and can be used as a regular currency there

Maybe not because its a very valuable. But because many people are supporting it. Now bitcoin recognized by many countries as virtual currency. Though legalisation is still on process on other countries. Bitcoin will find its way. Its just a matter of time. On the other hand. There are some countries fully adopts bitcoin. Hope other country do this.

I really don't see it happening. A few months ago bitcoin was worth around $800. It was mostly not regulated by any laws. In some countries it was forbidden. There were few that accepted it. What changed now? Bitcoin is $1500, but what about its reconginition? Well, it became legal in Vietnam and Nigeria really after the price went up. Everything else is mostly the way it used to be. I think bitcoin needs a lot more time till we can say it is really accepted.

We users of bitcoins should persuade those countries who were against bitcoins and not using it. We are also partially responsible on what direction bitcoins will take. We can let them know the benefits of having bitcoins as an additional currency through virtual means and you have nothing to lose if you use it. I agree with you that bitcoins had still a long way to go.

Countries now the benefits of bitcoin but for making it legal, there are many formalities and rules you have to follow as a country, and to check weather it is useful or not. Users of bitcoin what ever they say does not matter to them. The only problem for not making bitcoin legal is it's source as  source is unknown. And many terrorist organizations may use it as their financial source.

the only country that are making it illegal are bangladesh and venezuela when they arrested those miners, but i remember they were just stealing energy, which is not bitcoin fault

there is no other country making bitcoin illegal, because they know that this is pointless

[voltesbit777]

Because its price is now sky high then many countries use bitcoin as virtual currency

What you think with phenomenal like this

This is not about the price the price you think, it is more likely that bitcoin now is getting more popular in different places of the world, that's why many merchants and company are now adopting the concepts of bitcoin. Maybe because the usages and features of bitcoin now was very easy to apply and to use.

[DoublerHunter]

Because its price is now sky high then many countries use bitcoin as virtual currency

What you think with phenomenal like this

This is not about the price the price you think, it is more likely that bitcoin now is getting more popular in different places of the world, that's why many merchants and company are now adopting the concepts of bitcoin. Maybe because the usages and features of bitcoin now was very easy to apply and to use.

I agree with you, it is not always about the price because sometimes other people or big companies look at the usage of bitcoin and its features that can help them to gain more money and secure their money because they didn't need to get into the bank for a security because they just need a hardware wallet and that will do for them to secure their money and also give them bigger interest than banks because of price volatility.

[superhelper]

The position of bitcoin varies well from country to country and continues to be undefinable or dynamic  in several of them. ....! But i have no actual thinking about this!