Legalizing Bitcoin

[rivercorei]

Bitcoin legalization is possible because every year it develops

[1715286664]

1715286664

[Zadicar]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Yes, that is the right reason. So far, no country has actually provided a rule on bitcoin. If there is one country that actually regulates bitcoin, and the government approves it, then another country will do the same and no longer need to be afraid.

Not always the case on which a particular country would decide to follow another countries decision towards bitcoin since they do have their own views into things and would really differ on their decisions. They are not totally dependent into each other but somehow other countries decision would add up or affect another countries thoughts and might end up on having the same decision but well this would be on 50-50 chances though. Legalizing is good but it would really remove the features or things on how bitcoin should work on its way.

[rhamzter]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Yes, that is the right reason. So far, no country has actually provided a rule on bitcoin. If there is one country that actually regulates bitcoin, and the government approves it, then another country will do the same and no longer need to be afraid.

Not always the case on which a particular country would decide to follow another countries decision towards bitcoin since they do have their own views into things and would really differ on their decisions. They are not totally dependent into each other but somehow other countries decision would add up or affect another countries thoughts and might end up on having the same decision but well this would be on 50-50 chances though. Legalizing is good but it would really remove the features or things on how bitcoin should work on its way.

In other countries, legalizing of bitcoin are allowed they do this because they know that it was largely help the economics of each country. Even though government can't got an income thru jobs, because income in crypto world have no taxes. But in my sight it was largely helps people to increase the status of life. Maybe someday bitcoin will become fully legalize if the government of the whole world see the good effect of this coin to their economy.

[Kingofbitcoin12345]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Mostly right,, they don’t want cryptocurrency for that reason.. Controlling it,, that they can’t even manipulate the market for  political reason and used to blackmail investors for money or corruption that is obviously they wont know without personal information available.. Not like on stock market that they’re well-known and can be easy to asked for anything especially in election time..

[Nick Abimanyu]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Actually, the government are concerned about the use of bitcoin.
One concern governments is if bitcoin to be used for unlawful acts, such as terrorism, money laundering, prostitution, and drug trafficking.

[BitHodler]

One concern governments is if bitcoin to be used for unlawful acts, such as terrorism, money laundering, prostitution, and drug trafficking.

That's mostly straight nonsense. If there is one currency in the world that's being used for the purposes you pointed out, then by far it's the us dollar. They should look at themselves first before pointing at Bitcoin.

Nothing comes even close to what level of damage is being done in the world with that currency. It's so globally infested, that it allows any entity in the world to use the us dollar as currency in illicit transactions.

But hey, the us dollar is issued by the world police itself, so that's not a threat or whatever to them. Bitcoin grants people too much financial freedom, which is their main concern when it comes to Bitcoin.

[Kulafu]

Technically Bitcoin is legal.
Crytocurrency is legal is a since you are free to do so.
It can only illegal if it bound by laws and you do beyond prescribe by the law.
As of now there's none government regulating the BTC and there is no law that will regulate BTC.
 

[retnoanjani]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Mostly right,, they don’t want cryptocurrency for that reason.. Controlling it,, that they can’t even manipulate the market for  political reason and used to blackmail investors for money or corruption that is obviously they wont know without personal information available.. Not like on stock market that they’re well-known and can be easy to asked for anything especially in election time..

in addition, the government is still not ready to anticipate crime that uses bitcoin, such as black market, money laundering, drugs, etc.
but do not worry, some countries that do not legalize bitcoin just forbid bitcoin be used as currency, there is no prohibition to own and invest with bitcoin, just given a warning only.

[iamabasicboy]

Pot was of course first, now bitcoin is next haha

[Rooster101]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Mostly right,, they don’t want cryptocurrency for that reason.. Controlling it,, that they can’t even manipulate the market for  political reason and used to blackmail investors for money or corruption that is obviously they wont know without personal information available.. Not like on stock market that they’re well-known and can be easy to asked for anything especially in election time..

in addition, the government is still not ready to anticipate crime that uses bitcoin, such as black market, money laundering, drugs, etc.
but do not worry, some countries that do not legalize bitcoin just forbid bitcoin be used as currency, there is no prohibition to own and invest with bitcoin, just given a warning only.

Bitcoin is said to be a decentralized peer to peer payment system that is powered by its people with no central authority or middlemen. Governments formulates monetary policy and control the finances of their country. Some reasons why they control the flow of their currency is to monitor it uses. their fiat might be used to sabotage their economy, use in money laundering and other crimes that might endanger their economy and their citizenry. Bitcoin lack of central authority is the main reason why governments are still apprehensive of legalizing it as one their currency.

[bajigur894784]

I think the reality is that way. always about taxes.
even ... many warnings and directives from the central bank and the authority of financial policymakers in various countries who warn that Bitcoin has not been recognized by the state as an investment asset, means of payment, or a legal currency, and etc..
Some of these institutions are worried about the stability of country's financial system, if large-scale adoption of Bitcoin takes in the country.

[Lieldoryn]

I think the reality is that way. always about taxes.
even ... many warnings and directives from the central bank and the authority of financial policymakers in various countries who warn that Bitcoin has not been recognized by the state as an investment asset, means of payment, or a legal currency, and etc..
Some of these institutions are worried about the stability of country's financial system, if large-scale adoption of Bitcoin takes in the country.

Large-scale introduction of bitcoin into the economy never will be. Even the existence of such a phenomenon as the cryptocurrency cannot repeal the laws of Economics. For the successful development of the economy need constantly to make adjustments to monetary and fiscal policy. With bitcoin this is impossible.

[darshansetty]

yes bitcoin need to be legalized officially in all over the world so every one can use the same currency so that it can be use everywhere

[qwerty12]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

may also be his reason like that.
but, I noticed that, most governments in different countries are not really serious in determining the law of bitcoin.
because if we look again, there are some countries has legalized and determine the law this cryptocurrency, Among other India.
the rapid development of virtual currency adoption in India has prompted the Ministry of Finance of India to form a committee tasked with examining the workings of virtual currency in India.
Similarly, the Swiss state regulates the legality of digital currency in the country.

[Lanatsa]

I think the reality is that way. always about taxes.
even ... many warnings and directives from the central bank and the authority of financial policymakers in various countries who warn that Bitcoin has not been recognized by the state as an investment asset, means of payment, or a legal currency, and etc..
Some of these institutions are worried about the stability of country's financial system, if large-scale adoption of Bitcoin takes in the country.

Large-scale introduction of bitcoin into the economy never will be. Even the existence of such a phenomenon as the cryptocurrency cannot repeal the laws of Economics. For the successful development of the economy need constantly to make adjustments to monetary and fiscal policy. With bitcoin this is impossible.

Its really impossible. Not to be bitter with bitcoins usage and benefits but still it really differs with local fiat itself when we are talking on economic matters which we do know that bitcoins doesnt have the capability for such thing. This is why we do see that adopting and legalizing it would still debatable because government do already see the possible effects of it.

[pandukelana2712]

Do you think gover

Every government is afraid of bitcoin. They only think about how to bitcoin collapsed and this nightmare was over for them. In government there are no people with new thinking. They are all proteges of the existing clan system. They have now all is well and they don't want to change anything. Here we sit on the twine. To ban bitcoin can't, and admit it does not want.

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Government are afraid to legalize bitcoin because it was decentralized and they have no knowledge about cryptocurrency.They cannot imposed tax on it they need a deeply studies about bitcoin.The development of bitcoin is now increasing day by day and it was been popular by other country unlike before that only few of us known by bitcoin.

nments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Every government is afraid of bitcoin. They only think about how to bitcoin collapsed and this nightmare was over for them. In government there are no people with new thinking. They are all proteges of the existing clan system. They have now all is well and they don't want to change anything. Here we sit on the twine. To ban bitcoin can't, and admit it does not want.

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Mostly right,, they don’t want cryptocurrency for that reason.. Controlling it,, that they can’t even manipulate the market for  political reason and used to blackmail investors for money or corruption that is obviously they wont know without personal information available.. Not like on stock market that they’re well-known and can be easy to asked for anything especially in election time..

in addition, the government is still not ready to anticipate crime that uses bitcoin, such as black market, money laundering, drugs, etc.
but do not worry, some countries that do not legalize bitcoin just forbid bitcoin be used as currency, there is no prohibition to own and invest with bitcoin, just given a warning only.

I have some problems with goverments regulations.
But I think, at all most cases their reason is same TO PROTECT THEIR CITIZEN. That's just insincere of the goverment policy. In the front of public, they said will banned anything about criptocurrency. But from behind they try to adopt blockchain technology for their monetery policy.

Additionally, It's better if the goverment protect their citizens with give learning about cryptocurrency, like how to make safety investation, give the citizens protect from cryptocrime, make sure their citizen can't be criminals in crypto technology, etc....

Guys, the technology can not be stopped or banned. We must follow the technology. If we don't follow the technology, we will dissappear in future. 

[thrylos]

Do you think governments are afraid legalizing bitcoin because it's difficult regulating its use, circulation, determining individual's worth, earnings and may lead to tax evasion?

Government is very good in giving a solution to the problem. So I think that reasons can be solve in the perfect time when government will draw their interest in btc.

[UglyMirror]

Only few goverment banned bitcoin, other rathered to make takes over it.

[Sarastiche]

Indirect tax can be acrue from Governement when they legalize bitcoin but globally Government are skeptical as they cannot have access to the financial worth of it citizen holding Bitcoin,except they convert to fiat and they transact with bank.Hopefully in the near future some change will occur that will force government at all level to legalize BTC

[deppil]

Well government knows that it won't be easy for them to regulate bitcoin use, because of it's anonymous nature. Also the risk involve in handling bitcoin and monitoring transaction through bitcoin user is difficult to handle. It will be hard for government to officially legalize bitcoin.   

perhaps in the future the government will find a way to be able to provide taxes, the government will not control the bitcoin because it is impossible because the bitcoin is decentralized. the government will give control to bitcoin users, maybe every user is required to have an account such as bitcoin bank or local exchange that requires data verification, where they have a complete system about the amount of bitcoins that owned by them so that the government can ask tax to bitcoin users, I think from that the government can provide legalization of bitcoin