The legalization of bitcoin.

[enabledogarmy85]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

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[Harry Callahan]

Here in Australia, the senate is now issuing and discussing the legal status of bitcoin. It was declared like bitcoin was formally got legal status, yet this is not working like you imagine when you first heard of it.

Does that mean that bitcoin is not legal in Australia yet. I thought i read somewhere that they will be legalizing it by now,so what is the status now,more countries are legalizing bitcoin and hope the end user does not have any difficulties because of that.

[Potchi]

Who cares if bitcoin is declared legal or not in your country? I'm not using bitcoins because my government said it's OK I'm using it because I can make my own decisions with my own money.

More likely, who cares if bitcoin is declared or not in each of everyones country, we can use it as long as we are not violating any rules of the law and we are not harming any one.

[NEWGOODOUBLE]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

[Quietman]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

[Arumi.Bilqis]

I think bitcoin can not free itself, bitcoin need government that will guarantee bitcoin continuation, with bitcoin legality in every country better make bitcoin..

[Dudeperfect]

Even though theoretically it is possible to implement such idea, I don't think it would be worth it. The best practice should be something that would really bring the difference, such as helping the governments to learn about bitcoin and blockchain technology. It will help them to understand it and so that it will make easier to bring bitcoin in legal area which will boost the growth of the bitcoin.

[Kp4everK]

All the islands already belong to some countries and the legalization of bitcoin will scare away many users. It's used mainly because of anonymity and lack of taxes. The idea is doomed to failure.

[bitllionaire]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

may be use may be no.  i think that it is not bad to pay tax on bitcoin.  through tax our government run department, pay salaries and complete the development project, so paying tax is not such a big problems.

[wxa7115]

Yes I like this idea.

We need to create a country where bitcoin is the official currency. It will be also interesting to see how that country will develop based on bitcoin.

Things don’t work like that, you cannot just create a country out of nowhere, unless other countries recognize then you have not created a country, so like you see, we will have the same problem we have with bitcoin but now it will be a country instead of a currency what we will be fighting for.

[Pinkris128]

Every country has their own law and so is the case with Bitcoin . Few countries have legalised it while some are I. Process of how to bring this under purview so that it can be monitored and legalised as well. How does it benefit economy and citizens of the country is also what government takes into consideration .

exactly that why bitcoin not legalized all over the world because of the law and policy of every country when it comes to bitcoin. Government will legalized it if they complete know the advantages and disadvantages of it. They also first look on the possible effect on it. Government have many consideration because they make sure first that it will have a good effect to us people who is living in one particular country.

[DevilSlayer]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

Yah I know. If the bitcoin will legalize in all country there is a big possibility that the government will control the bitcoin. The government for sure take full over tax in the bitcoin.

[Paid Piper]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

Yah I know. If the bitcoin will legalize in all country there is a big possibility that the government will control the bitcoin. The government for sure take full over tax in the bitcoin.

that is not so easy, they should only announce like japan that they have legalize bitcoin and i am sure that there will be no need to have full control over bitcoin and bitcoin will remain in its original form.

[JofryTheKing]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

Yah I know. If the bitcoin will legalize in all country there is a big possibility that the government will control the bitcoin. The government for sure take full over tax in the bitcoin.

that is not so easy, they should only announce like japan that they have legalize bitcoin and i am sure that there will be no need to have full control over bitcoin and bitcoin will remain in its original form.

It seems to me that the government of Japan will always find a way out of this situation. The point is that the legalization of Bitcoin also involves a number of consequences. I think that many Bitcoin users already know this. I do not know how things will be in Japan, but the fact that the Bitcoin user in other countries will have to pay taxes with the legalization of the crypto currency is a fact. That's just whether we are ready for this?

[Sled]

I like that idea. haha However i think all land over earth is owned by a government/person, so it's not that easy.

I think the key just gets the blessing and permission from the government. After that happens then bitcoin will grow very fast, many stores and agencies will adopt bitcoin, but to get legalization from the government is not easy, may have to remove the decentralization of bitcoin?

If bitcoin has been legalize, the government will take in full control over tax in bitcoin. The government knows that they are losing taxes in terms of digital currency. Bitcoin will grow fast if it has been legalize but how about the users and earners of bitcoin? Does this thing has a positive result?

Yah I know. If the bitcoin will legalize in all country there is a big possibility that the government will control the bitcoin. The government for sure take full over tax in the bitcoin.

that is not so easy, they should only announce like japan that they have legalize bitcoin and i am sure that there will be no need to have full control over bitcoin and bitcoin will remain in its original form.

It seems to me that the government of Japan will always find a way out of this situation. The point is that the legalization of Bitcoin also involves a number of consequences. I think that many Bitcoin users already know this. I do not know how things will be in Japan, but the fact that the Bitcoin user in other countries will have to pay taxes with the legalization of the crypto currency is a fact. That's just whether we are ready for this?

Paying tax from our earnings in bitcoin is a positive for me because even though there will be a less in our earnings, we can still have a good legalized currency in our country and that is bitcoin which in Japan they can use it to buy things in their country and paying tax is still a good side for me because we can help our country to improve itself by just paying tax.

[wxa7115]

All the islands already belong to some countries and the legalization of bitcoin will scare away many users. It's used mainly because of anonymity and lack of taxes. The idea is doomed to failure.

The legalization is not as bad of an idea as you make it sound, if a country makes it legal, that does not necessarily mean that they are going to charge you taxes on it, there are some tax haven that were interested in getting in the bitcoin market and charge no taxes.

[Netnox]

Paying tax from our earnings in bitcoin is a positive for me because even though there will be a less in our earnings, we can still have a good legalized currency in our country and that is bitcoin which in Japan they can use it to buy things in their country and paying tax is still a good side for me because we can help our country to improve itself by just paying tax.

As long as the tax rates are reasonable, I don't have an issue paying them. But look at nations such as Germany. They have income tax as high as 45%, and on top of that the indirect taxes are also high. The VAT for most of the common goods range from 20% to 50%.

[iyan33]

Although paying taxes is a liability but it seems objectionable if you have to pay income tax payments if applying about 45% of the monthly results. I think this geman government is less wise in regulating and managing income tax rules.

[curved9inch]

So you are hoping for the creation of an independant state because of Bitcoin on an island. This is impossible for the sole reason that no state will leave sovereignty over a piece of its land, so except if your plan is to buy a whole country that will not be feasable.

[darthmaul]

I think bitcoin can not free itself, bitcoin need government that will guarantee bitcoin continuation, with bitcoin legality in every country better make bitcoin..

Thats not as easy as your speaking here. Letting government rule the bitcoin will make the bitcoin centralised asset for which government may levy different taxes and being trading asset it will have heavy taxes to acquire. There will be one more issue with this governance and thats the mining industry might just collapse. Just imagine mining is nothing but bitcoin printing machines according to government and that would be their potential target so they will start levying lot of amendments to make it more centralised. Currently anyone can mine from the home and I doubt if this will continue or not.


Bitcoin would be just another currency if they start regulating it and there are chances the price of bitcoin will fall to cents because nobody will like to get paid bitcoin with taxes and other charges. They will stop investing into it and that would be fall of bitcoins.