Should government consider bitcoin as a legal global currency?

[Davidbee]

Now the government does not support the currency trading in many countries, these countries is not friendly to the currency, the government will no currency as legal tender, the currency is anonymous, is scattered, countries can't control, countries cannot make supervision to the currency, so don't put the COINS as a legal tender

[Victorycoin]

They should be. They are already earning from bitcoin by placing those taxes. That is how greedy governments are. If you do not pay your taxes then you are a criminal to their eyes.

They certainly would not! If the governments were to choose between banning Bitcoin or placing tax on it, the sure bet is that, majority would jump at having it banned instantly, because they can't stand its competitive edge over their local currencies. It takes only a progressive minded and free country like Japan to be willing to stand up for technology and innovations, most others, because they've things to hide, would not support any technology that could wash their dirty linen in public.

[poptok1]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

That would be great. That's a good way to unify the whole world; by having one monetary system, that is, bitcoins. With bitcoins legal around the world, then we won't have to worry with exchange rates and money changing booths. We'll all have to depend on bitcoins.

Well, I don't know... kinda scary idea, this world currency is. Bitcoin could however serve this purpose. As it is decentralised and by design "influence free", by this I mean no one will be able to lock you from your coins, sweep you of the grid etc.
But there is one more factor here, governments are full of older people, some of them "cant even in to internets", I can't imagine how and when, such concrete political establishment could understand and appreciate cryptocurrency's values. And I'm completely neglecting banks opposition.
Japan somehow made it... but they are weirdos 20years ahead of everybody else...maybe some day but not soon, rest of the world will follow them.

[Bitcoinnumberone]

Off course why not. Bitcoin is already helpful as the other currency  it is really not just a currency. Instead,it also allows some people to invest in it. Still there are some countries that doesnt legalize it because of the illegal use of it in some deepweb sites. But I believe that it is not really the reason behind it and I would be really happy if it is gonna be legalized.

[ramgonzales]

I really hope so, Japan successfully legalized Bitcoin as a currency which means they have a firm belief that it will help their economy and their people. Now that it is leagalized they can maximize its potentials to benefit their country. I am excited to see more countries to follow the lead of Japan for the future progress of each country's economy.
 

[Xzhyte]

For now, there's no restriction about cryptocurrency in my country. Though the government keeps on warning the people to invest in bitcoin unless they know what they are doing. It is understandable because most newbies who doesn't really understand how cryptocurrency works might lose a lot of money. Overall, our government is open to cryptocurrencies, maybe sometime in the future they might introduce some regulations to legalize bitcoin in my country.

[ronremsey25]

Considering the recent incident about US and Bitcoin, it is still in decision how will the government will regulate the Bitcoin or ban it. But for now, they are considering the cryptocurrency and how it will be secure. As for my country, it is been legalize yet and no restriction or law has been done but a warning to be aware of the transaction we are done to prevent scams or what so ever.

[ParveZ219]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

Yes of course because can be used as a legal currency all over the world as Bitcoins are accepted everywhere nowadays... I am from India and its not decided till now that it's bad or not in India is not illegal till now or legal till now.... In fact Bitcoin is not illegal but Bitcoin gambling is a type of illegal as gambling is illegal all over the world... And our Prime Minister and President is also decided about the Bitcoins so it may be confirmed legal in some days.

[alexbs]

Governments around the world are trying to come to terms with risks and benefits of considering crypto currencies as legal currency. They have to take into account some critical aspects, such as consumer protection, taxation and above all, criminal activities.

The regulation is a mosaic of different opinions around the world and I think Japan is a pioneer, having already legalized the use of digital currencies. Something needs to be done in the near future as a new disruptive economy has been emerging very fast and governments cannot ignore the problem for long.

[aeternus]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

In my country there is almost no talk about bitcoin and anything related to it even then some laws are going to be passed but it does not recognize bitcoin as a currency and to me it makes sense, that happened in Japan because the level of adoption there is insane, and the government is trying to find ways to stimulate the economy and this one was an easy one since they did not need to do anything except to pass a law.

Who will be responsible for the consequences? Governments cannot predict the consequences of legalizing cryptocurrencies. Therefore, it is easier to ban the cryptocurrency. Each user of a cryptocurrency is worried about his well-being. Therefore, there is no unity in the bitcoin community. If we could stick to a General strategy that can be a lot of misery we could avoid. But it's the lyrics.

The consequences of legalizing bitcoin? Bitcoin is not like alcohol or some other substance, bitcoin is just a coin and it does nothing by itself, if the adoption is big then that is going to bring prosperity to the country if it is not then nothing happens, the only bad consequence of this could be some criminals using bitcoin but that is inevitable after all criminals are going to use something whether it is legal or not.

[roxbit]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

In my country there is almost no talk about bitcoin and anything related to it even then some laws are going to be passed but it does not recognize bitcoin as a currency and to me it makes sense, that happened in Japan because the level of adoption there is insane, and the government is trying to find ways to stimulate the economy and this one was an easy one since they did not need to do anything except to pass a law.

Who will be responsible for the consequences? Governments cannot predict the consequences of legalizing cryptocurrencies. Therefore, it is easier to ban the cryptocurrency. Each user of a cryptocurrency is worried about his well-being. Therefore, there is no unity in the bitcoin community. If we could stick to a General strategy that can be a lot of misery we could avoid. But it's the lyrics.

The consequences of legalizing bitcoin? Bitcoin is not like alcohol or some other substance, bitcoin is just a coin and it does nothing by itself, if the adoption is big then that is going to bring prosperity to the country if it is not then nothing happens, the only bad consequence of this could be some criminals using bitcoin but that is inevitable after all criminals are going to use something whether it is legal or not.

In some countries bitcoin is not adoptable because of its volatility and tax revenue issues. The government are still in the process of providing a regulatory control to avoid its users of being victimized by hackers. To ensure the proper knowledge of bitcoin process. Eventually and hopefully sonner they will accept the reality that bitcoin is our future and our future global currency.

[Asuna]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

I think that Japan embracing bitcoin as their legal currency is a good example for those countries who did not, moreover banned the cryptocurrency. Because of it's benefits from different areas and fields. Most importantly it has a great impact in improving the economy of one's country. If they believe of it's potencials from the people and economy, then why couldn't we?

[lukmon]

Yes it will be better if they make it legal and regularise the crypto space . Instead of regualr fud and market manipulation it is better governments regualte them and tax them instead of making it complicated.Penetration and usage of crypto cannot be stopped ,rather can be taxed and used for development purposes.

[crisasimo10]

This is what the Bitcoin users waiting for to consider Bitcoin as legal currency. It might be with some regulation to make Bitcoin alternative because of the existing legal in circulation.

[CryptoSmile]

If Japan has been able to finally legalize bitcoin, it only means that they have belief over it and that it really has the potential for the good of rhe economy. I personally think that government should go along with the step that Japan made for bitcoin since it actually benefits and help people and government legalizing it would improve this community.

It is a good idea to look at japanese government. Bitcoin had been finally legalized there and today it is growing rapidly and bring many benefits to people  and economy of the country. If some big countries in the world having economic power follow  to accept and legalize bitcoin, bitcoin could be accepted easier to be a global currency. May be  it operates as an alternative payment instrument and not to replace fully the local currency.

[laracastvue]

Japan already made bitcoin a legal currency. Would you consider your countries to also pass a law recognizing bitcoin as a legal form of currency?

Yes absolutely, if bitcoins will only be used in a proper way then there will be no crimes and other illegal transactions. It was a huge advantage for japan to use bitcoins since the value of cryptocurrency in the market is continuously increasing and they will probably use the profit that they will earn to improve their own economy.

[Pegiz]

Of course I think that any country should come to that decision and afterall allow top cryptocurrencies to be used by the general public. To legalise and integrate it into the economy the right way.

[btsjimin]

It must be legalized before Bitcoin is considered a legal global currency. It must passed though a series of discussions and lobbying. The government must weigh the pros and cons of Bitcoin to our country.

[bitfocus]

yes, they should and they will in a few years.

[keninu]

Of course as a Bitcoiners I want my country to legalize Bitcoin like in Japan. because with the legality of Bitcoin in a country, then people's trust will be higher on Bitcoin, and certainly Bitcoin demand will be more and more, and will affect Bitcoin price. and certainly if my country legalizes Bitcoin, it will make it easier for me to trade with Bitcoin Digital Money for various needs.