Legalizing Bitcoin

[LeoEspansq]

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. 

With such a rise in prices, not only for bitcoins, this must inevitably be done. The question is how to do this without damage to users and the state, someone will inevitably suffer. And as for the impact on the economy, if it is unprofitable or will cause inflation of the national currency, it will simply be banned.

[KennyR]

If the legalizing of bitcoin is done similar to that of Japan, it's quite good. This will let the economy grow in a combined manner, but most of the governments does not do it. They just expect to have control upon the asset which is impossible and will create flaw over the operational process of bitcoin. It's better to function same as the present.

[spinach98]

If bitcoin will be legal definitely the value of it will drop because the government will take control of bitcoin and it is not good to alot of people that earns bitcoin because they will be affected if the value of bitcoin will drop so its better to stay as is so that it the vaue of bitcoin will be high always.

[Finestream]

If bitcoin will be legal definitely the value of it will drop because the government will take control of bitcoin and it is not good to alot of people that earns bitcoin because they will be affected if the value of bitcoin will drop so its better to stay as is so that it the vaue of bitcoin will be high always.

How can they control bitcoin when they do not control the system, they will not even know who are the miners and the owners of the addresses they can found in the blockchain. The government cannot stop bitcoin unless they will give a full order to ban bitcoin and whoever uses it will be help for criminal offense, that was harsh, right?, they will do that when they feel they cannot stop the people and their interest will be sacrifice.

[haroldtee]

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....

Like I always say, if it is not illegal, then it is legal. As far as I am concerned, just very minute countries of which I do not really care have declared it illegal so far and if the citizens have decided to remain enslaved by their own government, then that is their call. As far as I am concerned, this is still legal in most countries. However, when we are referring to official legalization, like what Japan is doing right now, I see it as something that would even create more interest and awareness as we see more investors popping in, knowing that its usage is allowed and then trying to see the benefit they can derive from it.

[Sled]

If bitcoin will be legal definitely the value of it will drop because the government will take control of bitcoin and it is not good to alot of people that earns bitcoin because they will be affected if the value of bitcoin will drop so its better to stay as is so that it the vaue of bitcoin will be high always.

How can they control bitcoin when they do not control the system, they will not even know who are the miners and the owners of the addresses they can found in the blockchain. The government cannot stop bitcoin unless they will give a full order to ban bitcoin and whoever uses it will be help for criminal offense, that was harsh, right?, they will do that when they feel they cannot stop the people and their interest will be sacrifice.

Bitcoin is just unstoppable and it will continue to become even more successful in the future and stopping or banning bitcoin will not have a chance to happen since bitcoin have a lot of good benefits if they will just adopt and made it a legal currency. Bitcoin is now getting accepted in some of the countries especially in Asian part countries.

[mOgliE]

For most governments I think it is not that simple.

First because many people know the word "bitcoin" but not what it represents actually. Then, because allowing such currency means necessarily acknowledging the existence of the iceberg of transactions around bitcoin. Not that easy.

Legalizing bitcoin would be indeed really interesting but I think most governments are not ready 

[Yaunfitda]

For most governments I think it is not that simple.

First because many people know the word "bitcoin" but not what it represents actually. Then, because allowing such currency means necessarily acknowledging the existence of the iceberg of transactions around bitcoin. Not that easy.

Legalizing bitcoin would be indeed really interesting but I think most governments are not ready 

Some government are not yet ready because because that a lot of negative connotation about it. But I really don't get my government is really avoiding bitcoin. It may be that they don't know what 'bitcoin' is, but there are already countries like Japan who have already set precedence. All they can do is follow the lead of Japan and I think it will be just fine.

I guess its really hard to removed the bad images of bitcoin that has been portrayed already. And it looks like it has struck to the government around the world. So we have to face that fact that some countries are going to be friendly, but majority of it as against bitcoin.

[a4techer]

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. 

Many of the country's was already legalizing the uses of bitcoin but some of country they are legalize bitcoin including my country so that many of my country men didn't know the bitcoin and some of them saying that bitcoin was scam but some of country was legal to use bitcoin on many ways like buying, paying, shopping and many others that using bitcoin for their daily lives.

[ringgo96]

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. 

Many of the country's was already legalizing the uses of bitcoin but some of country they are legalize bitcoin including my country so that many of my country men didn't know the bitcoin and some of them saying that bitcoin was scam but some of country was legal to use bitcoin on many ways like buying, paying, shopping and many others that using bitcoin for their daily lives.

it is currently not too many who know bitcoin. because the bitcoin is still illegal so not too much in my country knows bitcoin. so the bitcoin we need to develop more so that people can know what bitcoin is.

[faceoff97]

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 don't see the need of making bitcoin legal, It may actually make things more complicated. With or without legalization of bitcoin, it will go beyond its peak price. Actually bitcoin is decentralized, which means government cannot have full control over it and maybe just have the power to regulate this. Recognition may be essential but this diesnt mean legalization is a must to happen.

[ThunderCatSteve]

I think legalizing Bitcoin is unique in every State or country of jurisdiction. Its process varies. But one thing is for sure, it is more complex than it was imagined. Why? It is because Bitcoin (or other cryptocurrencies alike) came to existence whereby it totally changes the fiat system. It does away with the norm as regards regular banks, government back ups, among others. In short, it is a class of its own. Moreover, it changes over time because day by day there are new developments that come with it making governments unable to come up or foresee substantial changes. To legalize it would be tantamount to carrying the burden of studying it and carefully foreseeing how it is going to be in the next days, weeks, months, or so.

I think it’s a very good idea to make bitcoin legal because when we see the bitcoin performance in those countries where bitcoin is legal so it’s much more better than those countries where bitcoin is only accepted its transition are very fast and its acceptable in banks as well so I think it’s very important to make bitcoin legal.

[gyu22]

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

[niceone]

I don't think that bitcoin is illegal in the first place although some countries ban bitcoin but i think they're just scared cause they're seeing the real potential of bitcoin. Some countries is recognizing bitcoin instead of banning it cause maybe they know that it can be an advantage for them of course there will be a lot of laws will gonna pop out if a lot of countries finally adopt bitcoin.

[4U]

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.

I think it’s a very good idea to make bitcoin legal because those countries who make bitcoin legal so those people have a lot of facilities as compare to any other countries because its transitions are very fast there and banks are also going to accept bitcoin and its very to use bitcoin any place any time so I wish that bitcoin will be legal soon around the world.

[zergenyt09]

Legalizing bitcoin in a country is not that easy. It may take years before it become legal, after government made their decision. This matter will be discussed in the office of one agency which is assigned by financing or momey issues. Those who have positions in the government will discussed it well, they will do research about it. They will find reasons why is it right to legalize bitcoin in their country. Laws, rules and regulations will be provided to, so that it will be use in a right way it must.

But I think that it is not a hard job for a government to legalize bitcoin and I think that regulation of the business of crypto currencies will definitely prevent the ways of criminal and hackers of this digital world and indirectly it will improve the income of the common  people as well as the investors well.

[vidprab5]

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.

I think it’s a very good idea to make bitcoin legal because those countries who make bitcoin legal so those people have a lot of facilities as compare to any other countries because its transitions are very fast there and banks are also going to accept bitcoin and its very to use bitcoin any place any time so I wish that bitcoin will be legal soon around the world.

I also support the idea of legalization of Bitcoin and other crypto coins. Indeed countries that approved this technology have done a great favor to their citizens. It would be very nice to do all the buying and selling in digital form. This way, our time and energy will be saved. Not only has this Bitcoin also given job opportunity to many unemployed people. Also, this is the future of money.

[android17]

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. 

Government doesn't need to regulate Bitcoin to our country. If they do it, maybe they might legalize it and obviously having the tax is surely possible. I believe that they don't need to interfere with the cryptocurrency because I believe that we can work together and to be successful without them.

[charmaine08]

It is good ti us if bitcoin is legal and have some banks and machines to operated in changing bitcoin into fiat . I hope bitcoin. Will be legal soon. .

[richkellj]

Governments can easily legalize bitcoin by passing a law, but I think it would be difficult for them to control bitcoin transacctions since bitcoin is anonymous. For users it would be clarifying in order to change bitcoin to fiat, but if the network can function by itself and make transacctions p2p I don't see what the role of states will be and what justification they can invent to tax activities.

Actually this is main reason. Governments know better what the advantages bitcoin is carrying along are but they only waiting for the time that may be in upcoming future bitcoin’s feature i.e. decentralized would be changed and all these governments can control the yes and no of bitcoin. But we hope a time come in near future when all this happens and we would be enjoying the perks.