Legalizing Bitcoin

[Sale_man]

Bitcoin can significantly improve the economics of the country even if not legalized , because if so they will need to know who's holding and how much are they holding and then make them pay taxes , and this could turn quite difficult since people won't deliberately declare owning bitcoins to just give to the government. It can help the country itself if they start dealing with countries that are already dealing with it tho and make transactions smoother .

[LuanX3]

I think bitcoins are legal in most countries. If there is no law saying it is illegal then you can be sure that it is legal in your country. Actually something just becomes illegal if there is such a law saying it is. But since most countries have not even created laws or any of their existing ones saying the use of bitcoins is indeed illegal. So the point is that right now the laws of the world does allow bitcoins, so we do not have to worry about it legally speaking.

[cryptoblue]

Well, no one can stop bitcoin. More and more countries will legalize bitcoin in the coming years.

[megynacuna]

Bitcoin can significantly improve the economics of the country even if not legalized , because if so they will need to know who's holding and how much are they holding and then make them pay taxes , and this could turn quite difficult since people won't deliberately declare owning bitcoins to just give to the government. It can help the country itself if they start dealing with countries that are already dealing with it tho and make transactions smoother .

It can only affect an economy if it has direct input and output from the economy through the workings of exchanges in the said economy. Many exchanges are springing up everywhere and if such cryptocurrency exchanges exchage bitcoins for cash and vice versa they are directly infusing foreign exchange into the economy and it will improve it with time and so legalising bitcoin or allowing its operations within a country can be very beneficial.

[setupbounds]

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 transactions cannot be tracked, government needs to come up with a solution so that both user and government are benefitted with proper rules and regulations.

Yes this is one of the problems that every country have about Bitcoin because they don't want to make any illegal activities in their country that the Bitcoin can be used because of that activity they didn't track and they didn't know it.

I think it will be very good to make bitcoin legal in countries because bitcoin can be more high with his price and the ratio of its users will be also increased and the most important thing is that everyone will start to pay tax and same its transition will be also increased and become fast so I think it will be a very good step to make bitcoin legal.

[Saveplus]

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 agree that it can be  legalized but we all know that there some disadvantages if it will became legalized like imposing a tax on it,rules and regulation of them all we want to do is follow them and make things clear from bitcoin.And if there are some corrupt in government I think they will use it in their criminal activities and I dont want to happen that in bitcoin.

[Allan Ramanda]

many people say bitcoin is freedom. while every government always wants to control bitcoin completely, because bitcoin can affect the economy of its citizens. if bitcoin and government can negotiate well, I'm sure bitcoin can be legal. because in my country so many people are using this bitcoin.

[davinchi]

I think besides getting tax in every transaction which is impossible to be control by the government, Bitcoin will just simply help the economic status of one government. as long as the people benefits then the government will also benefit it will lessen the poor and lessen the corruption.

I was once discussing this topic with one of my friends who is also into Bitcoin. I told him that if bitcoin happens to be legalized, that the government will be charging the users of bitcoin a certain amount of tax, but he never believed it and kept on saying it’s impossible.

Reasons was because he believed since users are anonymous it will be hard to charge them any tax. Don’t underestimate what the government can do, they can easily charge tax on Bitcoin no matter what, they always come up with a plan.

[tumokatok]

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. 

to legalize the bitcoin of a government requires strong legislation to regulate the circulation of digital currency, if the government legalize bitcoin will certainly increase the economy of the country, because there will be a lot of transactions in the country

[Toden1379]

Legalizing bitcoin would take a very long process since it is not regulated by the government. in order for you to legalize it, government should control it,

[detector]

Legalizing bitcoin would take a very long process since it is not regulated by the government. in order for you to legalize it, government should control it,

If government decide control bitcoin, it will broke bitcoin as decentralized currency and government may apply tax on it.
About the process, it's require all government approve in order to legalize bitcoin officially

[jonatuzc]

Bitcoin can significantly improve the economics of the country even if not legalized , because if so they will need to know who's holding and how much are they holding and then make them pay taxes , and this could turn quite difficult since people won't deliberately declare owning bitcoins to just give to the government. It can help the country itself if they start dealing with countries that are already dealing with it tho and make transactions smoother .

Exactly! There is no point of denying this fact that bitcoin is really a good thing and it can really help a lot in making this place a better place to live. As far as legalization of bitcoin is concerned, I think of this idea as the best one and this will really going to help this world in lot many ways. This will help more people to know about bitcoin and they will start accepting bitcoin in more convenient way.

[KnightElite]

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 many benefits that the government can get from bitcoin. It is true that the bitcoin can improve the economy of a country.  All of the government should legalize the bitcoin because of its advantages.

[A Feeder]

If bitcoin would be legalized in all countries there will be a massive deflation in its price and lots of big investors will quit. Bitcoin should be kept neutral because of its volatility.

[BabyBoss]

If bitcoin would be legalized in all countries there will be a massive deflation in its price and lots of big investors will quit. Bitcoin should be kept neutral because of its volatility.

This is impossible buddy if people or governments make bitcoin legalized there will be a big possibilities that it will be more valuable and even the price is more expensive than now.

[/GeertJohan]

Most of the countries is not probably say the bitcoin is legal or illegal. because this is difficult to say it is legalizing for the reason is it is not like that the normal currency....

[jhongzjhong]

Government of some countries did not say that bitcoin is legal or illegal, but I think legalization of bitcoin has a big impact to the users or even investors. Government control and regulate bitcoins transactions and have fees for every transactions for taxes, then the price of bitcoin will down and also our freedom will manipulated by government. Much better bitcoin keeps normal for being votatility.

[FalconZA]

The issue for Governments and BTC is income TAX. If everyone jumps onto BTC, how will a country generate any TAX income to run the country and its infrastructure? Once a government solves that issue; it will be a game changer!

[hpmp]

If bitcoin would be legalized in all countries there will be a massive deflation in its price and lots of big investors will quit. Bitcoin should be kept neutral because of its volatility.

This is impossible buddy if people or governments make bitcoin legalized there will be a big possibilities that it will be more valuable and even the price is more expensive than now.

possible and one day it will be done
govs just need to find some way to control spendings

[tmaleha]

My opinion is Bitcoin is already leagal only. Why we need certification from government that it is legal. So far you have access to bitcoin from anywhere in the world and you can transfer it. It is legal only. Only thing is Government not getting additional income from bitcoin that's why this issue. We are not cheating anyone bitcoin is owning with  effort only so I strongly believe bitcoin is legal only.