General use of bitcoin as a legal currency

[Leyss]

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?

Although bitcoin is the greatest invention of the last decade, no state will ever recognize it as its main currency. Bitcoin and other decentralized crypto currency can go in any state only in parallel with the national paper money of this state because the decentralized crypto currency has very high volatility, anonymity and is difficult to control by the state. In addition, decentralized crypto currency is foreign to any state, it has nothing to do with the economy of any state, and all other currencies (except for the dollar) are tied to the economy of their states.

[Aramazdi]

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?

it is true that there are still many countries that reject the use of bitcoin currencies, but because they want to protect the value of their own currencies, because they think that the entry of the bitcoin currency will shift conventional currencies and of course cause a decline in the country's currency

but it seems that many countries who refused but the government still allowed the ownership of bitcoin as an asset, because the government tried to apply the asset ownership tax.

[PlusOne88]

Volatility is a problem with bitcoin. If it is stable then maybe it will be used as a currency. Because it is system that is volatile enough with each passing hour or maybe seconds, the possibility of using it could be mean a great loss to the holder if the market falls so fast. And it rises in value many will sell it immediately if they could sense profit. For short it is so unstable to become a currency.

[izanagi narukami]

Bitcoin able harm my economy fundamental because bitcoin has high value.
SInce my government is weak against dollar, they try for not legalize bitcoin because it can cause inflation.
So I think it's impossible for my government to legalize bitcoin except they have open minded and change their view about bitcoin advantage !

[sheenshane]

Bitcoin able harm my economy fundamental because bitcoin has high value.
SInce my government is weak against dollar, they try for not legalize bitcoin because it can cause inflation.
So I think it's impossible for my government to legalize bitcoin except they have open minded and change their view about bitcoin advantage !

Legalization bitcoin in some country is hard to implement, just like what happens here to our country too. They did not put any law on bitcoin but they also not legalizing on it, as of now they are quite into this cryptocurrency. So, in my own view, it is not easy to use bitcoin as a legal currency the government will not allow on this and maybe it has a bad effect on our local currency.

[marcbitcoins]

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?

Because they have their own policies and laws to follow in which they need to regulate it first before making the Bitcoin currency to be legal to use in their country. We all knows that Bitcoin could be use in illegal activities such as money laundering and terrorist funding so they want to regulate it first to ensure that Bitcoin will not be use in such illegal means. Anyway most of the countries are now supporting Bitcoin and very few are not supporting it.

[Yurkov]

Volatility is a problem with bitcoin. If it is stable then maybe it will be used as a currency. Because it is system that is volatile enough with each passing hour or maybe seconds, the possibility of using it could be mean a great loss to the holder if the market falls so fast. And it rises in value many will sell it immediately if they could sense profit. For short it is so unstable to become a currency.

For me bitcoin will done something in near future with that, i mean that moves on market will be lower (their amount) and price of it would be more stable, maybe it will happen when miners will finish their work.

[Girlsbit]

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?

Bitcoin is really an absolutely new currency with nothing that can replace ordinary money, but it can also change the economic system, which scares the country very much.

[primejia]

Yeah I meant Every country don't take it as a legal currency to do their general transactions..

Indeed, in this world there is not a single country that makes bitcoin their currency, but many countries allow bitcoin to become an alternative medium of exchange, bitcoin is a global currency and cannot be regulated by any country and many features of bitcoin.

offering the convenience of unlimited transactions between countries and without complicated regulations that always disrupt the global trade sector, which is certainly a factor of security and confidentiality of its users which makes bitcoin attractive to many economic actors in the world.

[Entratish]

Crypto currency like bitcoin no doubt great invention but using it as a legal tender I think some more time needed because half of the world does not what it is and how to use it....

[megasynk]

A lot of time will pass until every country will legalise Bitcoin and treat it like a normal alternative to standart currencies. But I personally rather use dollar than Bitcoin when I buy something.

[bajigur894784]

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, that thing is directly related to cryptocurrency like bitcoin which is decentralized, there is no interference from the central authorities like the government, also, cryptocurrency like bitcoin allows people to trade directly with each other (peer to peer), meaning that it cuts the need for intermediaries, which is traditionally a bank.

Because That reason, many countries prefer to prohibit it rather than accept and make it legal.

[alex_gr_cc]

Any currency that the state accepts for any transactions must be controlled by the central bank. Bitcoin, for the time being, can not be controlled from a technical point of view. Therefore, he is not in a hurry to accept.

[Manolsib]

Naturally, to preserve the essence of the state, that is, the ability to control everything.

[greeklogos]

Why why. Isn't that obvious? What kind of currency bitcoin is? Nobody own it, it hasn't physical form and any national wealth behind it, add to that the price is jumping like crazy. To accept it as legal almost all inside laws about finances should be changed.

[Alex_Zi]

Bitcoin is not a currency. It is first and famous digital technology of the last 10 years. It was start of new era. But most part of people think that bitcoin is just cryptocurrency.

[FolckBeat]

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?

How can a country just give up it own governmental currency??
But there are some developed countries who accept bitcoins as a currency and support the development of this crypto area as they see the great potential in it. There are many concerns in America about it.

[genuin]

the concept of bitcoin has actually been created for a long time. but we must admit that btc is currently developing very fast. To make bitcoin recognized by each country it is difficult. but someday I believe that bitcoin will be recognized as the single currency used in the world

[KorakPawon]

It simply because not all countries have used crypto currencies as the payment system, it is only accepted in developed country like America or Japan that has legally used and regulate it in their country. Besides, government actually is hard to control the regulation itself, they don't want to change the fiat currency as the payment system.

[Mhd-Bobbi]

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?

In some countries there are those who give permission for the use of bitcoin, but there are also countries that do not give permission for the use of bitcoin, because their country has a legal umbrella for the use of their original currency.
That is the importance of using bitcoin, if the government supports bitcoin maybe in some countries it will definitely reduce poverty.