Negotiation with government

[chocolah29]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Just take ETF on SEC on this matter, those people are pushing hard ETF yet SEC is just denying their application for the second time as they see bitcoin unfit and unjust.

So what you're proposing isn't a joke and this is a serious matter that need a lot of talking. And besides, we can still use bitcoin as a payment even it isn't a legal currency and as long as we use it the way it should be it will be fine, anyway. In fact, this whole ETF thing is just a show up so whales can easily manipulate the price.

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[bitfocus]

as the governments and central banks kinda hate Bitcoin, I dont think it will be easy.

[chomli]

government recognizing BTC as a currency might devalue the prevailing currency in that economy

[ErikDavis548]

The government can only legally regulate the way Bitcoin operates in the marketplace. The government can't make Bitcoin a currency, which goes against the rules of the cryptocurrency market.

[AliceSusana88]

Bitcoin prices have risen over time and reached a certain level. Gradually, the bitcoin price will stabilize, become a measure of value, and finally the currency. However, this process can take 5 to 10 years.

[trauchot]

In some countries they have already done it, but many other countries still do not want to recognize bitcoin, even if people will pay taxes if they use bitcoins, so there are no problems in taxes, for governments problem is that all bitcoin transactions are anonymous and  that`s why it does not allow to make it legalized throughout the world.

[Lauragreen85]

If all government accepts Bitcoin as a legitimate currency, Bitcoin will overtake the US dollar's dominance in the world financial sector, and become the main global currency in its payments.

[DrGuns4Hands]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Let us consider your points.
Mainly, if we would be taxed on our bitcoin investment then most probably the government find ways on them to make their regulations and made it as a legal currency. In contrast, many investors would have to make a secure standing and viewpoint for bitcoin and other cryptos. But, it is hard and very difficult to realize, given the situation and assumption to convince people out of investing in it. The very reason for this is the nature itself; since bitcoin is a decentralized currency then it no one could possibly control it. It is also hard to monitor and if the government would want to regulate its transaction and flow in the market - then "good luck" to the government.

[baddertin9716]

The government provides specific regulations on Bitcoin, the Bitcoin income tax is applicable. I believe that in a short time Bitcoin will become a legal currency

[DavidGBoydq232]

I think if all countries accept Bitcoin, then Bitcoin can only be considered as a high-value asset. Governments will not accept a new kind of currency with no value in kind.

[RisingSun25]

It will be a good and also an effective idea but first of all we have to identify why our government still make it illegal and after knowing the reason negotiation can occur.

[Heleacce]

I personally think terms that the goverment serves are never negotiable. They will protect their own benefit in the first place and not mind what people really want.

[people12345]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

I don't think that it will work because cryptocurrency under government is such a hard thing, theres many things that we should follow, maybe it more secure but many things could happen. Theres a taxes you need to pay,you have to follow a deep transaction. So we expect that bitcoin under government will make more miserable.

[jagdeepjd]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

Its hard to convince them governments are for the people and by the people but they hardly care much about our view. In my country exchanges are put to stop transacting with banks but there have been some appeals which are pending for the approval of crypto and to regulate them. But i am not very much hopeful of positive response anytime soon.

[Ethan Argu]

Maybe it could happen but for my opinion if they want to legalize bitcoin goverment will put on a tax on it. It will go to like a paper currency in any transaction goverment include tax of any product or services. If goverment is strict to thier employee i think taxes will go in a good way.

[kr105]

Bitcoin is seen as a serious competitor to the fiat money and the future of fiat money is not bright due to economic problems around the world. Crypto is also a good alternative for governments in the future.

[bajingluncat]

maybe, sometimes if we want something then we have to give something, maybe it applies to BTC, if we want the legality of the government then we have to give rewards such as taxes, even though we feel it is too much, the government has earned income from various fields if it is possible to bid even if the government gives its legality, I hope the government does not collect taxes that will burden us. After all, if btc is legalized, the government will not lose anything, instead it will benefit because the economy of the people will increase automatically. The purchasing power of the people will increase. the national economy will be achieved, if it is like that I think the government will also benefit

[fndsr]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

maybe it's very difficult if only someone because we know the government might see a lot of negative side rather than the positive side because the government only sees from individual and group benefits

[Muspion]

I don't think that needs to be done because I believe that even though bitcoin has not been legalized as a legal currency in the country, still bitcoin can be converted to local currency through banks, this is my experience as a country that has not legalized this crypto currency

[abbywem]

We don't need to negotiate with government.  It shows the sad state of our being as humans when we wish to ask for permission to do what we please.  The fact that you think we have to ask government is very telling and sad.