What Can Be Done To Make Government Legalize Bitcoin

[maculeth]

we can not make a definite step to encourage bitcoin for the government to legalize bitcoin. it all depends on the government's decision itself. as is the case today when some governments consider that the blockchain system is very good and effective for banks, but there is no definite step too to make bitcoin legalized.

[jeluhtajem]

The bitcoin as a crypto currency is still very young and has not been noticed by all countries so it just need some time until it gets legalized by the country.

this is just a matter of time, if you look at bitcoin growth from day to day I'm sure one day bitcoin will be accepted globally.

[senin]

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.

It can be said that the governments of different states do not worry about their banking system. Crypto currency can not lead to the collapse of the banking system as a whole. Crypto currency only partially reduces the profit of bankers due to the fact that a certain part of people switch to the use of crypto currency and do not turn to banking services.
States are not very active in legalizing bitcoin and other types of decentralized crypto currency because they can not manage and control them, and besides, it has a very high degree of volatility. In addition, some states consider investing in bitcoins as a risky investment.
We can not force states to speed up the legalization of the crypto currency. This is a very serious issue for each state, which will not be hastily decided, but the crypto currency is an entirely new kind of financial relationship, which is very ambiguous for the process of its implementation.

[rommelo24]

I don't think the government is that much stupid and they are very well known about the crypto world and what actually it is. They are not legalizing it because there is no point in doing that. Bitcoin is free and unpredictable. No one can actually control it or can at least do something about it. Even if governments Legalized it then also there is no additional help or service we will get from it because it is not gonna profit to the government or anyone else. people are free to use it and get whatever profit they can make with their hard work.

This is not an easy thing to do. Legalizing bitcoin can mean such a very big battle because there are a lot of consequences with regards to government regulations. But the good thing is bitcoin is already accepted by the people so meaning they agree with it.

[andriw]

bitcoin and blockchain is the great breakthrough and innovation in today's financial technology. every change there must be pros and cons. the things that need to be done are growing up the great ideas and building projects that use bitcoin and blockchain technology, gradually bitcoin and blockchain will be accepted worldwide

[Magic Sarap]

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.

It can be said that the governments of different states do not worry about their banking system. Crypto currency can not lead to the collapse of the banking system as a whole. Crypto currency only partially reduces the profit of bankers due to the fact that a certain part of people switch to the use of crypto currency and do not turn to banking services.
States are not very active in legalizing bitcoin and other types of decentralized crypto currency because they can not manage and control them, and besides, it has a very high degree of volatility. In addition, some states consider investing in bitcoins as a risky investment.
We can not force states to speed up the legalization of the crypto currency. This is a very serious issue for each state, which will not be hastily decided, but the crypto currency is an entirely new kind of financial relationship, which is very ambiguous for the process of its implementation.

I think its hard to convince government to legalize btc, because of many factors that can affect their economic growth. Also they are worried about banks than can lose many customers because of legalizing bitcoin. And it takes a long time to legalize and accept btc if the government already convinced.

[abanansah]

As long as bitcoin is anonymous and the trasanctions is hard to be traced to a particular person, governments will be unwilling to make it legal otherwise it might fuel money laundering and illegalities.

[AliMan]

I don't think the government is that much stupid and they are very well known about the crypto world and what actually it is. They are not legalizing it because there is no point in doing that. Bitcoin is free and unpredictable. No one can actually control it or can at least do something about it. Even if governments Legalized it then also there is no additional help or service we will get from it because it is not gonna profit to the government or anyone else. people are free to use it and get whatever profit they can make with their hard work.

Well government is always after the benefits so giving them the incentives might change their mind. They always want to be favourable so giving them what they want will surely convince them.  But that doesn't mean that bitcoin will be aggravated it's just that we want bitcoin to function properly.  So it is a win-win situation for both sides.

[Baekhyun]

I think with the increasing public interest in bitcoin, the government's trust to legalize bitcoin will arise. at present it may be difficult for governments to legalize bitcoin because bitcoin does not have good regulation yet. But along with the many good news about BTC, BTC will be globally accepted

[DoublerHunter]

We should show to the government that we are improving using bitcoin and we should make a proposal for them that is saying that they should do research about bitcoin and other crypto that might help them to make a better country and economy system which is far way safer than using the old system that we have right now.

[Choy13]

As a user. I know that Bitcoin is still young.  Bitcoin can make people rich in just a couple of years. Or something like a months. Bitcoin manufacture everything regarding to your payments, bills and things you wanna buy. Government doesn't see the importance of bitcoin for us. They see it as a threat to their country that's why they banned it almost for the whole world. So, I prefer that the bitcoin will be legalize in the whole world.

[Lamborgini64]

many country government legalize bitcoin most of the Japan & European country government also Legalize Bitcoin. In future most of the country accept it .

[Femhab]

One of the things that'll make government realise the usefulness of BTC or blockchain is adoption of it by the citizens, if citizens support blockchain technology sooner or later one of the adopters will take control of the government at the time it would be easy for such person to introduce BTC/blochain to the system.

[Keeping Up]

prevent scammers from giving taint to the name of bitcoin.
as of now there isn't that much of country that ban's bitcoin.
but every time i hear news\ that a ton of money has been stolen from someone involving crypto i really feel bad of what might be the result.
if this kind of scenario continuous to happen then it will really be hard to achieve a legal bitcoin world.

[Bilong ko]

Right now media and governments are not in the mood of legalizing the bitcoin. Even some countries announced it as banned even there is no evidence of it. We need to understand the power of cypto currency first before fighting for the legalization of bitcoin. There is a lot of negativity in the market and investors are stepping back to save their money.

[Kupid002]

I don't think the government is that much stupid and they are very well known about the crypto world and what actually it is. They are not legalizing it because there is no point in doing that. Bitcoin is free and unpredictable. No one can actually control it or can at least do something about it. Even if governments Legalized it then also there is no additional help or service we will get from it because it is not gonna profit to the government or anyone else. people are free to use it and get whatever profit they can make with their hard work.

Well government is always after the benefits so giving them the incentives might change their mind. They always want to be favourable so giving them what they want will surely convince them.  But that doesn't mean that bitcoin will be aggravated it's just that we want bitcoin to function properly.  So it is a win-win situation for both sides.

well this is tru cause most common is that government really want to have want they want for to make this legal well not just about in bitcoin but on a any aspects this is what they does for so in terms of bitcoin also this is what they like too.

[Konco126]

My opinion on all this, I think will not be. Because if logically thought, it is true that bitcoin can make a country destroyed by a very high but irregular bitcoin price and without or at least the prevailing taxes. Here we can know that bitcoin is less good if present in the state government.

[Tilysoo]

I think goverment has a idea about crypto but as i can see no one pass it in a senate.. I dont think they will support crypto. Because it will affect the own currency.. And some will people invest without taxes to the goverment. So i think it's difficult to legalize bitcoin.

[gasparyu]

patience is what we need. governments are ofcourse still studying if they can benefit in the adoption of bitcoin. bitcoin is still young. just give it time and it will take over the world at some point

[doraegun]

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.

Government already knows what the chances to get income from it but because of virtual currency digital system method government has doubt with hesitation to do something legalized because of volatility movement no stable income and they felt also that it might be affected to banking industry that's why until now even here in the Philippines doesn't approved by the government.