Legal But Regulated or Unregulated But Illegal?

[Yuhee]

i think theres no harm in making it legal

however trusting the government to do it quick and right, well, that's another topic.

Actually their are many harms when it will become legal. Seeing it virtual and how decentralized it is, the government really does not have any hold or trackings of cash deposits beind made in a certain country. They cant fully control trades that would happen everyday. Economically it may help the citizens but not directly the government. Plus it wont be just some common civilian would invest, Corporations will also take oppurtunity leaving more btc to a certain business rather than the government itself.

[jaocoincrypto18]

Legalization of Bitcoin in many countries has proven to be a very hot topic since there are countries which viewed Bitcoin as a threat since the currency is decentralized, not backed by anything and is gaining a strong following and use in such a short period of time. Bitcoin has become a phenomenon which caught many by surprise.


Perceived as threat, there are some government authorities who are proposing to regulate the cryptocurrency but as a compromise make it legal. It is as if they want a give and take kind of game.

Should we allow to get into the compromise as long as Bitcoin can be legal or should we make a strong stand against this scenario?

I preferred the legal way because i'm favor of regulating the bitcoin or the ICO, by means of legal it will ensure the protection of the welfare of the people preventing from joining scam sites and ICO in which their hard earned money is at risk, while becoming a legal means a tax will be a policy which mean it will reduce our earning but not totally lose in which may happen any time if you will become a victim of fake ICO. So which you will preferred? Reduce earning or your investment is at risk of totally lost because of scam?

[cardinalVC]

anything that is not mentioned by the law to be illegal, is legal. 

[bornforfreedom]

It's two things when you're trying to legalize and having the government's finger in it.
Of course they're going to want to create structure and monitor everything. Navigating that ground will be a challenge.

[bubblebit]

I will choose the first one “Legal but regulated”, I’m more on a law follower than a a law breaker. As far as i have knowledge on our country’s stand on bitcoin is “Neutral (not legal and not illegal) but regulated”, the exchanges Is monitored by the central bank and government agency handling cyber investments.

Regulating bitcoin can have bad and good implications but if it is for the best and security of our investments, why not. After all the government is thinking and serving for the people’s welfare.

[MoonJeina]

In this case i would favour legalized and regulated . I know the nature of bitcoin is decentralized and this is why bitcoin is so different from other currencies but this is restricting bitcoin to be widely used by people . If bitcoin is legalized and regulated in a country then there will be  no fear of using bitcoin. Moreover the crimes associated with bitcoin will also be reduced in that country . If the money or wallet is stolen then there would be legal actions and inquiry agains the theif . So  i guess it will be a bettet scenario for the honest bitcoin users to use bitcoin in a fearless environment.

[Lancusters]

It seems to me that legalization of bitcoin this will be the beginning of its end. For a start, the government will impose big tax but will collect a database on all users. When the government is ready it will inflict the final blow. For example, impose a tax of 80-90%. And then it will be difficult to resist them. I will never believe that the government is interested in the legalization of bitcoin. We need to resist now. Bitcoin is public property and the state should not have any impact in this area.

[btc-facebook]

My government still not regulate bitcoin yet so it's illegal but I can still own bitcoin without being fear to get bust by police since they still not make any legit policy against bitcoin.
They made wise decision because bitcoin can be use for criminal activity but in other side, everyone are looking efficient and cheap transaction especially on this digital era.

[orions.belt19]

It absolutely needs to be on a legal accepted framework, otherwise any gov't can just come in and seize your assets. There is no stand to make, that fight for complete independence from gov't regulation has already been lost, most of us just haven't realized it yet.

I have the same sentiments and fears. I'd go for the compromise. It's risky to possess something which is illegal.  still respect our land's laws and have fear for it. I'm still a law abiding citizen above anything else. It would be better even if there would be some regulations - taxes and whatnot. I'm more scared of confiscation for the illegal possession of bitcoin.

We have no choice. As the popularity for bitcoin and crypto is increasing, it is but inevitable for crypto regulation to happen.

[Kingofbitcoin12345]

Sometimes regulation is a good thing and the most of time goes badly but let just give the government the chance to make an arrangement that they can offer the best deal that is beneficial to bitcoin enthusiast and for the improvements on the state.. Countries needs our taxes and we need the government to get those criminal minded bitcoin scammers who are giving cryptocurrency a bad name.. I will go a legal way but regulated.

[rjbtc2017]

I'll choose Legal But Regulate, but why does it sound like regulation is bad. I think it is part of every law and policies on monetary activities to be maintained and regulated. As for the regulation, i would love it if the Government will not put too much effort and time just to extract a little piece from the cryptocurrency, let the regulation be inside the box of preventing Money Laundering and not generating tax from it.

[jamids]

I would prefer legal but regulated because I don't want to do something illegal. Currently, our government do not have regulations yet regarding bitcoin but they did not declare it to be illegal so people can still use it freely along with the tax free status in our earnings because they cannot classify it yet. However, they are looking into it and just issued warning to the people to be always be vigilant because many are taking advantage especially the scammers. I don't think that having it legal is something bad because the government would just want to protect its citizens from investing in something not protected by the law.

[777Bitcoin]

I keep myself out of any illegal issues when the topic is money. To be legal but regulated is the best choice we can get from this all dramas happening in the cryptocurrency vs banks word war. If the government will make some laws that might worked with us, investors maybe it will worked. Is bank will stop complaining when we are totally legalized? Nope, but still we can answer straight with a laws accordingly.

[Bonakid]

Legalization of Bitcoin in many countries has proven to be a very hot topic since there are countries which viewed Bitcoin as a threat since the currency is decentralized, not backed by anything and is gaining a strong following and use in such a short period of time. Bitcoin has become a phenomenon which caught many by surprise.


Perceived as threat, there are some government authorities who are proposing to regulate the cryptocurrency but as a compromise make it legal. It is as if they want a give and take kind of game.

Should we allow to get into the compromise as long as Bitcoin can be legal or should we make a strong stand against this scenario?

I prefer for legal but regulated I dont want any legal activities about bitcoin ,government must imposed law by  it and we should follow it for the sake of our money especially in terms of our investments.If they will give a law from bitcoin we should follow their rules and regulations and also their policies just to be in good terms and legal by bitcoin.

[Twentyonepaylots]

i think its more beneficial to have a regular but regulated type of option in bitcoin, because it is much more easy to use bitcoin and you dont have to hide from the government in using it, unlike when it is illegal its like youre selling drugs because you have to hide from the government.

[matuson]

i think its more beneficial to have a regular but regulated type of option in bitcoin, because it is much more easy to use bitcoin and you dont have to hide from the government in using it, unlike when it is illegal its like youre selling drugs because you have to hide from the government.

The popularity of bitcoin largely stems from the fact that it is not available to regulate whether anyone. All of what concerns the state is doomed. I am sure that the regulation may simplify the use of bitcoins only for a short time. Then bitcoin will lose its popularity. It is not related to illegal actions. People simply do not trust politicians and want to be independent.

[rasl.curt]

Im not sure ....Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is perhaps best described as ‘cash for the Internet’, but Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

[Kronos21]

I am for bitcoin remains unregulated. For me it does not matter be it legal or not. People must finally understand that the power belongs to the people not just words. With bitcoin we can force the government to go to meet people. If people want to use bitcoin then no the ban is not a hindrance to that.

[Hamphser]

i think its more beneficial to have a regular but regulated type of option in bitcoin, because it is much more easy to use bitcoin and you dont have to hide from the government in using it, unlike when it is illegal its like youre selling drugs because you have to hide from the government.

The popularity of bitcoin largely stems from the fact that it is not available to regulate whether anyone. All of what concerns the state is doomed. I am sure that the regulation may simplify the use of bitcoins only for a short time. Then bitcoin will lose its popularity. It is not related to illegal actions. People simply do not trust politicians and want to be independent.

When it comes into a certain thing that would really be already come to a point on where it is being controlled by the government then popularity would really lose up which isnt just like before.People would really still prefer on bitcoin on unregulated way not only seeing on the illegal way but on the privacy that we do get from it. Far away from being detected or being surveillance for those people who are above on ranking.
I would rather choose up on this current situation.

[Harlot]

Why are we so against with regulation anyways? I mean is it really that bad for what we call as a currency to become a regulated one in out country? Think about it being regulated means the government will sort of have control with it meaning that it has a chance to be stable and more usable for use consumers. Most of the government does not see it as a threat but in order to be safe they must control it somehow in order for their economy not to be affected. What is the use of an illegal currency anyways if they have the power to block it?