What Can Be Done To Make Government Legalize Bitcoin

[Akichiva23]

I think this is something beyond the common man's control, itts something that has to be decided by the governing bodies and the political class, as it aorly concern the national interest. However, we can join in Bitcoin and increase its market ca more and shoot its value and increase its use outside the crypto market, so much so that it will force the governments into adopting it

[careCentre]

The crucial reason why most countries are stepping back in legitimizing or legalizing bitcoin transaction or even talking about banning it is that there is no institutional or authoritative behind bitcoin.  This anonymity of bitcoin is making is risky for governments to openly allow its citizens to vest their income into it. It's not only about the decentralized thing and that government is doing this because it's not being able to control bitcoin, it's not like that. Even if bitcoin was, being equally popular as now, backed by some private company, the governments wouldn't have any problem with it.  So the matter of fact is that we at ground level cannot do much except for bringing about more and more trust over bitcoin in the market, and maybe by seeing huge user base and trust, the government might consider legitimizing bitcoin transactions.

[white_star]

In my own opinion, bitcoin will be legalized In a government once they put taxes by using Ii In thier country as an alternative way of paying some expenses like bill, merchants and etc.

[shalaza]

Unless the advocates of Bitcoin are in high places where we have people in the banking system, it would not work. The cabals behind the banking system won't want bitcoin to chase them out of business. I see it happening but not anytime soon

[Chicryptomama]

Legalizing bitcoin varies substantially from country to country. while some countries have adopted it by explicitly allowing its use and trade, others have infact banned and somewhat restricted it. A country that wants its acceptance for improving its economic growth will do so and those that consider it a bubble wont do so..Nothing can be done by ordinary citizens

[tanjiran]

We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.

Although bitcoin is decentralized, it requires the legality of a government to be used by people in the country. If the government has banned the use of bitcoin cannot be done freely. The government has full authority over the existence of bitcoin in the country, of course, in terms of its use.

[Sihab76]

Firstly government should takes a positive step to increase the positive goodwill among the peoples and set up a certain taxes on bitcoin and give order to permit in banking system.

[putriliesma]

Spreading the positive news about the crypto currency will be very helpful to make government minds positive and they will consider that bitcoin will be legal in that country.

[Blackrain13]

There is no impossible for Government to legalize bitcoin if they want. They can make it centralize to put regulation and taxes. Or they can communicate and make collaborate with crypto exchange so that they can put taxes for all the bitcoiners. If ever Government legalize bitcoin it will no longer anonymous if we make transaction because we need to put our identity before we can transact.

[SlickMoTwoToe]

We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.

Although bitcoin is decentralized, it requires the legality of a government to be used by people in the country. If the government has banned the use of bitcoin cannot be done freely. The government has full authority over the existence of bitcoin in the country, of course, in terms of its use.

Yes because in many cases bitcoin can also affect the specific currency of a country, it can affect the economy so that it is needed to be legalized.

[Rozita]

There is no impossible for Government to legalize bitcoin if they want. They can make it centralize to put regulation and taxes. Or they can communicate and make collaborate with crypto exchange so that they can put taxes for all the bitcoiners. If ever Government legalize bitcoin it will no longer anonymous if we make transaction because we need to put our identity before we can transact.

Seems that you don't how the blockchain technology and cryptocurrencies are working. Bitcoin is decentralized and it always will be. They can change bitcoin. They can only create a new coin. Then that's people determine whether they want that centralized coin or bitcoin. There is no doubt people will chose bitcoin or another decentralized coin.

[Catch-22]

Go ask a lawmaker politician to invest in bitcoin. Better yet, apply as a consultant for this cryptocurrency thing when the bill is filed for bitcoin to be legaized.

[Catch-22]

Go ask a lawmaker politician to invest in bitcoin. Better yet, apply as a consultant for this cryptocurrency thing when the bill is filed for bitcoin to be regulated.

[libert19]

Actually that is true. I just read couple days ago that IMF thinks that cryptos may bring down banks. They are afraid, very very afraid.

[IndigoRed]

Aside from mass adoption, another reason for the government to finally legalize bitcoin is to protect users from any scam or theft. Or perhaps to implement a tax of some sort.

[fuer44]

make the rules by taking tax for every bitcoin transaction, but not too high so that bitcoin users do not really mind. such as a fee of 1% for each bitcoin transaction, and funds allocated for development of the country.

[Getcoinsite]

The major and the mosr crucial reason because of which many countries are stepping back in legitimizing or legalizing bitcoin transaction, and even talks about banning it is the fact that their is no institutional or authoritive backing behind bitcoin. What if something tremendously wrong happens in the bitcoin world and citizens lose huge amount of funds, who is responsible? Whom shall we complain? Is there any backing or authority against which we can protest? Or atleast ask help with?

This anonimity of bitcoin is making is risky for governments to openly allow its citizens to vest their income into it. Its not only about decentralized thing and that government is doing this because its not being able to control bitcoin, its not like that. Even if bitcoin was, being equally popular as now, backed by some private company, the governments wouldnt have any problem with it.

So the matter of fact is that we at ground level cannot do much except for bring about more and more trust over bitcoin in the market, and may be by seeing huge user base and trust, government might consider legitimising  bitcoin transactions.

Perfect mate,the assurance of every people whos invested and will investing here is the most relevant issue why governments of many countries dont want to support bitcon or all cryptocurrency its upon them why they are banning this to make sure no one will be victimized ,until time that this community proves its legitimacy and reliability but for now letsccept this things

[Lyne01]

Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.

I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.

I think we cannot do anything about that. But if there is a chance, I believe the best thing we can do is to spread positive news about bitcoin and how it change one life. Likewise, spreading the benefits of crypto will make the government thinks that its actually a beneficial to us.

[Janation]

We are talking about decentralized currency now,cannot be controlled by central authority. I think the only way by which bitcoin can be forced to be legalized is through mass adoption,if majority of the population in a country start accepting jt ,then government will give it full support.

Although bitcoin is decentralized, it requires the legality of a government to be used by people in the country. If the government has banned the use of bitcoin cannot be done freely. The government has full authority over the existence of bitcoin in the country, of course, in terms of its use.

Yes because in many cases bitcoin can also affect the specific currency of a country, it can affect the economy so that it is needed to be legalized.

Even if you legalize Bitcoin or not, it will still affect the economy of a country for maybe a little since Bitcoin holders and investors don't really use their Bitcoins because they are just holding it waiting for the right price to come and then they will be selling it at that time. Government has their own decisions and ideas about it and we don't have that power to stop what they want to do.

[hefjor]

Is no longer news that various countries of the world are not in support of Bitcoin either as a means of payments or for trading purpose. This are been a challenges most Bitcoin users are facing throughout the countries of the world inexception of few countries.

I have begin to see it that maybe they are thinking that adoptions of Bitcoin might bring a partial collapse of the banking system and also a means of curbing money laundering.
So, let hear your views on what can be done to make our government realised the important of Bitcoin and Blockchain Technology.

If the people who are creating bitcoin will come out and talk to the government so that the government will make an action to be legal in a different country only the decentralization and anynomity of bitcoin can push the government not regulate bitcoin in such country.