Legalizing Bitcoin

[Pleione527]

If government will show support over bitcoin I'm sure the economic status of their people will grow and also their countries. The reason why some government do not declare the legality of bitcoin is because they couldn't find ways to have control over it and they are afraid that if they will declare bitcoin as a legal tender some people or corrupt may use it for illegal purposes which they cannot control or determine. But if they will have control over bitcoin surely many will be benefited and many can have the opportunity to become financially stable.

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[wdnj]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

The situation is complicated because governments are facing a new technology wich they dont know how to use. It is hard to legalize such a thing like bitcoin, in the same time is harder to make it illegal.
Governments can benefit a lot from legalizing bitcoin because they can add taxes for buying or selling it and also they can restrict the amount you can own. All I said it is very complicated to do and the chances to happen are almost nonexistent. Anyway we have to wait and see what will happen. No one knows

Legalizing is very important for bitcoin because till that time when bitcoin will not be legalize the people will not trust in bitcoin and many people will not invest in bitcoin. They will think bitcoin as an illegal currency and therefore they will avoid investing in bitcoin.

On the other hand of all the countries legalize bitcoin then the people will trust in bitcoin and when they understand the value of bitcoin they will definitely invest in bitcoin.

[corroze]

legalization of bitcoin in a country is very good because it will certainly provide and be able to increase the confidence of the community and others to participate in Bitcoin in various fields of business such as investment or trade.
but surely from time to time the government will realize how big the benefits of bitcoin and the positive impact of the bitcoin on the economy of its users who at all times continue to experience a better change.

[Ilegendph]

I don't think bitcoin can be legalized because it is technology. Its like when there is new product like cellphone government does not legalized them but they regulating it by quality control and other means. As long as people accepts bitcoin, then government has nothing to do with it except from banning and regulating it.

[belalangsembah]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

bitcoin if to be legalized must be in accordance with the rules that do not harm the bitcoiner, bitcoin if legalized transactions will increase and promote the economy of a country

[kidoseagle0312]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Making legalization in each country is not that easy to implement, because they number one reason is for sure they need to make a rules of by laws regarding this matter. Meaning, there s a big chances once it become legal currency it will only sure that there is a big chances it will become centralize which bitcoin. And that is not good anyway for us as  bitcoin fanatic.

[haroldtee]

If government will show support over bitcoin I'm sure the economic status of their people will grow and also their countries. The reason why some government do not declare the legality of bitcoin is because they couldn't find ways to have control over it and they are afraid that if they will declare bitcoin as a legal tender some people or corrupt may use it for illegal purposes which they cannot control or determine. But if they will have control over bitcoin surely many will be benefited and many can have the opportunity to become financially stable.

This one is definite. First of all, it would create more awareness for the usage of bitcoin, hence increasing even the status of the people holding it already, as the value increases. Most citizens of some country suffering hyperinflation now are already finding solace in the usage of bitcoin and that speaks a lot of volume and over time, we will start seeing changes as the standard of living of people keeps getting better and hence helping the economy in general.

However, with respect to fraudulent and corrupt activities, I do not see how this cannot be curtailed if regulated and if exchanges are monitored. At least they will have to make use of an exchange before they even purchase in the first place and the regulation comes with anyone who wants to use an exchange going through the verification process, so with that, there is no way you cannot be nabbed. This does not mean some corrupt people won't always find their way like they normally have, but the usage of bitcoin won't definitely improve it.

[xIIImaL]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

Making legalization in each country is not that easy to implement, because they number one reason is for sure they need to make a rules of by laws regarding this matter. Meaning, there s a big chances once it become legal currency it will only sure that there is a big chances it will become centralize which bitcoin. And that is not good anyway for us as  bitcoin fanatic.

Due to the ICO ban of the Chinese and Korean now every country just fear about the investment on any crypto currency. Since bitcoin is evaluated to better place and price wise it reached to the peak value.
ICO investment options make the government thinks much time to invest on bitcoin. 5 months ago even Australian government shows the interest to make bitcoin legal but the drop after sometime.

[bitgolden]

legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

It is very important because without legalizingbitcoin will never be the main stream of all the currencies of the world I the future and once it is legalized by all the countries of the world then no power can stop bitcoin from becoming mainstream of all the currencies. Therefore I think that legalizing and regularizing bitcoin is very mandatory for its implementation all over the world.

It is not exactly like that. I don’t k now whether governments are interested in it or not but they definitely realize its existence and the threat it gives to them. Isn’t it the reason they are not talking about it because this way they can keep common people unaware of it.Whatever politician says, it goes viral. Passing a negative statement by any official regarding will be a bad publicity but still a publicity. Anyways, I see more people taking about btc around me now.

[Kronos21]

legalizing cryptocurrency in country is a difficult, it depends on users cryptocurrency and bitcoin, "how cryptocurrency users participate in state regulation, and demands legalization, by judicative means.". cryptocurrency legalization statistics is very dynamic, and when you see some effort to start receiving bitcoin, it signifies the global elite has received bitcoin as a means of payment.

It is very important because without legalizingbitcoin will never be the main stream of all the currencies of the world I the future and once it is legalized by all the countries of the world then no power can stop bitcoin from becoming mainstream of all the currencies. Therefore I think that legalizing and regularizing bitcoin is very mandatory for its implementation all over the world.

It is not exactly like that. I don’t k now whether governments are interested in it or not but they definitely realize its existence and the threat it gives to them. Isn’t it the reason they are not talking about it because this way they can keep common people unaware of it.Whatever politician says, it goes viral. Passing a negative statement by any official regarding will be a bad publicity but still a publicity. Anyways, I see more people taking about btc around me now.

The higher bitcoin price the more people will accept it. Politicians understand this and don't know what to do. They are on the twine. This explains the fact that around bitcoin a lot of talk but absolutely no action. I think that governments try to impose large taxes on the use of bitcoin. If thus does not work to stop the spread of cryptocurrency, then they will go to more decisive action. In any case, it's only the beginning.

[bakul idu]

it's supposed to be the government think the solution to legalize bitcoin, because it is very much advantage to be gained from bitcoin.

[MakeMoneyBtc]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

The situation is complicated because governments are facing a new technology wich they dont know how to use. It is hard to legalize such a thing like bitcoin, in the same time is harder to make it illegal.
Governments can benefit a lot from legalizing bitcoin because they can add taxes for buying or selling it and also they can restrict the amount you can own. All I said it is very complicated to do and the chances to happen are almost nonexistent. Anyway we have to wait and see what will happen. No one knows

[zergenyt09]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

bitcoin if to be legalized must be in accordance with the rules that do not harm the bitcoiner, bitcoin if legalized transactions will increase and promote the economy of a country

In my opinion, legalization of bitcoin will have more restrictions on the ones who are investing in bitcoin. It is because of the reason that bitcoin will lose its decentralized nature, and it will come directly under the control of government.

We’ll have to pay in the form of taxes as well to the government and bitcoin will lose its charm. So I think it should remain in a way as it is right now.

[ajmapalo22]

The acceptance of government is very crucial in the market of bitcoin because this will help promotes the knowledge of bitcoin if they will allow transactions for this in their economy but the concern is that having bitcoin legalize lose the government control over legal tender because bitcoin is designed to be private and independent no one will ever have the control on it which makes government afraid of legalizing bitcoin they think tis can ruin their economy by means of illegal activities which cannot be detected. I think what's government needs now is to have the proper knowledge about bitcoin and trust on this kind of digital currency

[phieudu0408]

Having its anonymity can make the government into a big challenge for them. The government should be regulated bitcoin in order to have a benefits in terms of tax and to legalized all transaction in accordance of law. It could be improve the economics of a contries when they legalize bitcoin. If they make good use of it will be able to improve the economy of the countries. Currently many countries are accepting bitcoins but I have not heard of any countries whose economies are increasing when they legalizing bitcoin.

[KaliLinux]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

I've not heard that some countries have announced bitcoin as illegal. I think its not true.
There are ways to legalize the bitcoin currency system by writing laws and regulations. The only way to get benefit by legalize is a tax from bitcoin transactions.
Governments are planning to implement their own crypto currency for future. Also it is very difficult to few people who don't know about cryptocurrency. So chance is very less.

[h0lybyte]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

There are no governments which say bitcoin is totally illegal but governments surely want to find a way they can take bitcoin under their control.
In my opinion, governments would need to implement tax on bitcoin economy by different ways, this implementaion may effect criminalisation also.
Many countries are already trading in bitcoin under these legal implementaions.

[supine]

So in the most countries, bitcoin is neither declared legal or illegal. In some it is declared illegal and some are actually allowing it and also promoting their own alts.
So what would a government needs to do to regulate bitcoin in the country? And how can a government actually benefit from legalizing bitcoin in the country? How can it actually support the economic system of the country. 

I think this is quite a good idea. The government will now acknowledge the use of bitcoin, so the people will do it as well. One thing can start as small and turn out to be big. It is the same with bitcoin. I believe it will dominate the world.

[Webetcoins]

That is why bitcoin is not use in most of the country because of the reason that government cannot have anything in every transaction, and so with the economy, it may cause to lower the economy of one country because people will not going to use anymore a paper money but virtual. And some got the idea of bitcoin as a form of transactions for crime which may cause so bad to one country.

You are absolutely right some countries need to have a good economic power but they didn’t do anything because they don’t have a knowledge about bitcoin whenever they realized they will must legal bitcoin in their country and people will love bitcoin the most.

Yes it is very important and now almost all the big dealers are investing in the bitcoin and they are investing in the bitcoin so it is the time for all the people to invest in the bitcoin and to make the money for the long time and you will not get suffer the lose for the legal currency if you will invest in the bitcoin and the value price will be the world’s most wanted and the best currency.

[Gozie51]

Many government might not really look in the direction of legalizing bitcoin or cryptos as the case maybe if they don't find a means to control the usage. Control in the sense that making it an outlaw if a particular transaction is deemed illegal or a manner of transaction.

This control is because of orderliness in the society and making people obey precepts behind bitcoin. So, until the government comes out with measures to guide it, they might not be in a haste to support it fully. Meanwhile, even with the little support and good news around it, is soaring higher and turning out new rich people.