General use of bitcoin as a legal currency

[Kemarit]

They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.

when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.

But I don't think that the fate of fiat money can be jeopardize in any way because a country chooses to make bitcoin and crypto legal. We have to look at how Japan is managing it. I haven't seen the negative effects that countries and central banks are saying that will negatively effect a nation. They argued that its a disruptive technology, but Japan was able to go for more than a year now since accepting bitcoin and nothing has change. So its not yet proven that the financial systems or even their economy will be affected in a bad way. So I don't really understand why countries have demonstrated negative attitude towards cryptocurrencies.

[Oceat]

They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.

when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.

But I don't think that the fate of fiat money can be jeopardize in any way because a country chooses to make bitcoin and crypto legal. We have to look at how Japan is managing it. I haven't seen the negative effects that countries and central banks are saying that will negatively effect a nation. They argued that its a disruptive technology, but Japan was able to go for more than a year now since accepting bitcoin and nothing has change. So its not yet proven that the financial systems or even their economy will be affected in a bad way. So I don't really understand why countries have demonstrated negative attitude towards cryptocurrencies.

I think it is because of the threat that poses it on the bank but Japan is looking on the positive side instead despite of the negative comments of the other countries and their competitor. I think it's time for the other countries to accept the legality of crypto currency in a different way if they had a problem with it, they should follow what Japan's been doing.

[richardsNY]

I think it is because of the threat that poses it on the bank but Japan is looking on the positive side instead despite of the negative comments of the other countries and their competitor. I think it's time for the other countries to accept the legality of crypto currency in a different way if they had a problem with it, they should follow what Japan's been doing.

Japan has made its regulatory framework operate in such a way, that it is heavily focused on squeezing every penny out of people's pockets with their taxation laws. On top of that, the somewhat initial friendly crypro regulations of Japan are becoming more closed with every month that goes by. Other countries will definitely follow, but you have to understand that where Asian countries have Japan as main example, European or North American countries don't have that. I am quite sure that they are waiting for one country in their continent to set the first step, where after that the rest will follow. It will take time but eventually it will happen.

[Ela-ua]

Poccийcкaя влacть cчитaeт, чтo кpиптoвaлютa пpeкpacнo пoдxoдит для oтмывaния дeнeг, финaнcиpoвaниe тeppopиcтичecкиx opгaнизaций. Кoнтpoль зa pacпpocтpaнeниeм кpиптoвaлюты пpoиcxoдит c нeкoтopыми тpyднocтями, пoэтoмy тaкaя вaлютa cчитaeтcя yгpoзoй. Гeнepaльнaя пpoкypaтypa вынecлa зaкoн, кoтopый твepдит, чтo биткoин oбъявлeн внe зaкoнa.

Pyбль этo eдинcтвeннaя oфициaльнaя вaлютa Poccии, a биткoин cчитaeтcя кaк зaмeнитeль нacтoящиx дeнeг. Пoэтoмy кpиптoвaлютa нe мoжeт иcпoльзoвaтьcя oфициaльнo кaк фиpмaми, тaк и чacтными лицaми.

[nathanielpogi]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

I like the way bitcoin stay at the top in terms of marketcap and its value but most of the bitcoin holders are hoarding it for market manipulations like whales(or people who have may btc/rich businessmen). I still see it as a currency but some people see it as a speculative investment.

[Taki]

Your friends are right, bitcoin is definitely the best investment of the decade. The government still didn't accept bitcoin cause of it is decentralized currency and the main currency on the territory of each country should be national fiat to support the economy. There are countries which forbid crypto currencies and there are loyal countries, everything depends from politic that each country sets.

[zahed]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

Not, in every single countries not legal in btc transaction.Some countries it's officially illegal BTC transaction you search google a lot of news here about in which countries it legal or illegal.

[BeGoods]

They started to accept it. It is not an easy job for them. If you want to make a good job and maintain the system in your country you need regulations. And regulating cryptocurrency is not at all. And we have other factors like rich corrupted people that don't want to share their power with no one.

when bitcoin is legal it means there is a habit that they continue to use bitcoin with a large enough user capacity when it happens then the fate of conventional money will be questioned because the majority of the population uses bitcoin as a means of transaction.

I think it will automatically change but major currency changes do not need a legality or recognition from the government, because when everyone uses bitcoin then bitcoin will become mainstream, of course there will be lots of stores and merchants that accept payments with bitcoin and automatically many people use bitcoins for their daily currency..

[Snaic]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

The states have not yet finally decided what is the crypto currency and what status it should have. What is it all about - money, goods, property. financial asset? Until this issue is finally resolved, it's too early to think about its status at the international level. Crypto currency is still a completely new phenomenon in the world of finance, and here nothing hastily should not be solved. Since the crypto currency provides a lot of problems and inconveniences for the state, this process will take a very long time.

[Blondy12]

I am sure that the government will oppose in accepting bitcoins as a currency that will replace fiat. If bitcoin will be legalize and be accepted as payments by many, then that will be the time that it will be hard for the government to trace the revenue for taxes. And that would bring the economy down which is not good as a whole because the scenario will be the rich becomes richer and the poor becomes poorer in the end.

[Biscutard]

I am sure that the government will oppose in accepting bitcoins as a currency that will replace fiat. If bitcoin will be legalize and be accepted as payments by many, then that will be the time that it will be hard for the government to trace the revenue for taxes. And that would bring the economy down which is not good as a whole because the scenario will be the rich becomes richer and the poor becomes poorer in the end.

What if it will help the economy to boost because they made a new regulation that doesn't oppose to the general rules and laws including the AML? Some of us are looking on the front side of the story but forget to look at the backside of it. If only all people can think differently and not just some same bandwagon team.

[Oceat]

Other countries will definitely follow, but you have to understand that where Asian countries have Japan as main example, European or North American countries don't have that. I am quite sure that they are waiting for one country in their continent to set the first step, where after that the rest will follow. It will take time but eventually it will happen.

Are we living on a different planet? Why do they need some example from their neighboring countries if they could act as an example to everyone. I wonder what and who will make a stand for it to do and start a change. Kudos to that country!

Poccийcкaя влacть cчитaeт, чтo кpиптoвaлютa пpeкpacнo пoдxoдит для oтмывaния дeнeг, финaнcиpoвaниe тeppopиcтичecкиx opгaнизaций. Кoнтpoль зa pacпpocтpaнeниeм кpиптoвaлюты пpoиcxoдит c нeкoтopыми тpyднocтями, пoэтoмy тaкaя вaлютa cчитaeтcя yгpoзoй. Гeнepaльнaя пpoкypaтypa вынecлa зaкoн, кoтopый твepдит, чтo биткoин oбъявлeн внe зaкoнa.

Pyбль этo eдинcтвeннaя oфициaльнaя вaлютa Poccии, a биткoин cчитaeтcя кaк зaмeнитeль нacтoящиx дeнeг. Пoэтoмy кpиптoвaлютa нe мoжeт иcпoльзoвaтьcя oфициaльнo кaк фиpмaми, тaк и чacтными лицaми.

Translation: (Thank you Google translate)
The Russian government believes that the crypto currency is perfectly suited for money laundering, the financing of terrorist organizations. Control over the distribution of crypto currency occurs with some difficulties, so this currency is considered a threat. The Prosecutor General's Office passed a law that says that bitcoin is outlawed.

The ruble is the only official currency in Russia, and bitcoin is considered a substitute for real money. Therefore, the crypto currency can not be used officially by firms or individuals.

Then i would say most of the people from Russia are against of any crypto currency, do they? Everything could be controlled through regulations and laws. Anyway, i've read some news that Russian government is finalizing their federal law about cryptocurrency regulation.

[Oasisman]

The Russian government believes that the crypto currency is perfectly suited for money laundering, the financing of terrorist organizations. Control over the distribution of crypto currency occurs with some difficulties, so this currency is considered a threat. The Prosecutor General's Office passed a law that says that bitcoin is outlawed.

The ruble is the only official currency in Russia, and bitcoin is considered a substitute for real money. Therefore, the crypto currency can not be used officially by firms or individuals.

Then i would say most of the people from Russia are against of any crypto currency, do they? Everything could be controlled through regulations and laws. Anyway, i've read some news that Russian government is finalizing their federal law about cryptocurrency regulation.

No, I dont think the people would go against cryptocurrency, not only in Russia, but in other countries too. The government would always be the first to go against anything that would contradict their set of rules and regulations. What the other guy said was true, Bitcoin could be a subject to any crimes just like what he have mentioned, but a certain steps could turn things around and will become something good to have than being a threat. And yes, the Russian government is finalizing the law and regulation for Bitcoin to become accessible to all Russian citizen.

[bizarro]

you must think about all crypto, for why it was created and how it works, only after that you and only find the answer for that question

[saadat6868]

system of all crypto is closed for governments, it was the main idea of creators. so it only works personally i think, the money is in save

[KorakPawon]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

indeed there are some countries that legalize bitcoin as a public transaction in their country but not all countries legalize there are some who disagree with the existence of bitcoin there in their country as a tool of transactions because seen from the various deficiencies that still can not be resolved which will have an impact on the country.

[sindikat]

Fiat is completely under the control of the government. Central banks can regulate the amount of money in circulation and thereby withdraw part of the savings from the population. Cryptocurrencies do not allow this. This is the main reason why cryptocurrencies will never be recognized by governments as a currency.

[warrior333]

Other countries will definitely follow, but you have to understand that where Asian countries have Japan as main example, European or North American countries don't have that. I am quite sure that they are waiting for one country in their continent to set the first step, where after that the rest will follow. It will take time but eventually it will happen.

Are we living on a different planet? Why do they need some example from their neighboring countries if they could act as an example to everyone. I wonder what and who will make a stand for it to do and start a change. Kudos to that country!

Poccийcкaя влacть cчитaeт, чтo кpиптoвaлютa пpeкpacнo пoдxoдит для oтмывaния дeнeг, финaнcиpoвaниe тeppopиcтичecкиx opгaнизaций. Кoнтpoль зa pacпpocтpaнeниeм кpиптoвaлюты пpoиcxoдит c нeкoтopыми тpyднocтями, пoэтoмy тaкaя вaлютa cчитaeтcя yгpoзoй. Гeнepaльнaя пpoкypaтypa вынecлa зaкoн, кoтopый твepдит, чтo биткoин oбъявлeн внe зaкoнa.

Pyбль этo eдинcтвeннaя oфициaльнaя вaлютa Poccии, a биткoин cчитaeтcя кaк зaмeнитeль нacтoящиx дeнeг. Пoэтoмy кpиптoвaлютa нe мoжeт иcпoльзoвaтьcя oфициaльнo кaк фиpмaми, тaк и чacтными лицaми.

Translation: (Thank you Google translate)
The Russian government believes that the crypto currency is perfectly suited for money laundering, the financing of terrorist organizations. Control over the distribution of crypto currency occurs with some difficulties, so this currency is considered a threat. The Prosecutor General's Office passed a law that says that bitcoin is outlawed.

The ruble is the only official currency in Russia, and bitcoin is considered a substitute for real money. Therefore, the crypto currency can not be used officially by firms or individuals.

Then i would say most of the people from Russia are against of any crypto currency, do they? Everything could be controlled through regulations and laws. Anyway, i've read some news that Russian government is finalizing their federal law about cryptocurrency regulation.

I do not recommend paying attention to the position of the Russian government. It is a cruel, authoritarian and kleptocratic state. All who are in power in Russia are interested in that the population lived badly. Poor people are always easy to control. Cryptocurrencies give people freedom. Putin does not need such people.

[Sakura0990]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

I think the government has no control over digital money, so there will be barriers.

[Kronos21]

I've heard many of my companions say the bitcoin is the greatest invention in the decade.. But I wonder why every country don't accept this as a legal currency in their general transactions?

I think the government has no control over digital money, so there will be barriers.

Why do you think that the government does not have the ability to control users of cryptocurrencies? All cryptocurrency exchanges require users to submit the same set of documents that are required to open a Bank account. I am confident that this data will be made available to the government on demand. Cryptocurrencies are anonymous only until the user has used the exchange for Fiat.