What Can Be Done To Make Government Legalize Bitcoin

[nikki4]

Well, for my own opinion regarding this matter, on how the government will be able to recognize how good this crypto currency is that, we people should keep on using Bitcoin, and by that the fact information regarding the Bitcoin as well as its potential, capabilities, beneficial for us and for the whole community, will also spread throughout the community and if the government notice and realize how people embrace the crypto currencies, they might able to turn their mind and try to legalize Bitcoin.

[sieemma]

It is getting to everyone's interest that government legalizes bitcoin but we have not thought of the implications of which that will bring to us. First, to legalize bitcoin, there needs to be a regulatory body to prevent the scam activities that goes on. This is also in contradiction with what Satoshi intended bitcoin to be used, anonymity, but we don't have an option if we want legalization.

[Dmitry.Vastov]

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.

We all know that bitcoin is a very volatile, sustainable, popular, successful and most importantly the innovative crypto currency and no other crypto currency can match the growth ratio of bitcoin and the people, big companies and then the countries, who are getting this fate and potential of bitcoin are accepting it and countries are legalising it in their nation, and I think those countries who are in against of bitcoin needs to understand that bitcoin is very development potentiating curreny and I think awareness is the biggest influence for convincing the governments for bitcoin.

[adadaorlina]

I think that the lack of legalization Bitcoin is due to the fact that the government is not sure about the real cost of Bitcoin. The government should realize what are the importance of bitcoin especially to the economy. I think they will legalize bitcoin if they are able to control it.

[bidadari22_]

In my opinion,the legal status of bitcoin varies substantially from country to country and is still undefined or changed in many of them.While the majority of countries do not make the use of bitcoin itself illegal,its status as money (or commodity) varies,with the implications of different regulations.While some countries have explicitly permitted their use and trade,other countries have banned it.

[Payme21]

The best thing we can ever do for bitcoin and other cryptography currencies alike is to accept it and popularize it even further until the government have no choice than to legalize it

[slyfox]

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.

They know very well what it is at stake here, they do not want to accept bitcoin fully because if they do so bitcoin could overtake their currencies and their economies and they could lose control of the society, governments think that we cannot survive without them and while they are mistaken at the same time we do no want a disorderly fall of our society.

[ParveZ219]

I think the government is banning bitcoins as the transactions done for drug smuggling,Gun smuggling are done using bitcoins only as these transactions will go anonymous..So if the bitcoin transaction can be tracable then Government will accept it....As there will be chance of crime using bitcoin after that..We have to make them understand that crimes are done using paper money also,it doesn't mean they will ban paper money.

[bp.comp69]

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.

maybe bitcoin is still very small and not yet well known by other countries so just wait until the government legalizes bitcoin.

[MUSFIKAR]

In my opinion we need to use Bitcoin and that can help the Bitcoin community by starting to accept bitcoin as a regular payment method. First, the government must take positive steps to increase goodwill among the community and set certain taxes on Bitcoin.

[amber deposit]

I think there is nothing much that can be done to convince the governments to adopt Bitcoin when they already banned them, Its a decision that they must have weighed all the options to rich at that particular decision. However, the users can stop making illegal transactions using BITCOINS, THIS  might encourage the governments to go easy on their regulations on Bitcoins, an agreeable taxation deal could also be discussed between the government and Bitcoin users so that both parties are satisfied.

[Pemburu dollar]

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

I think With the passage of time, when more and more people will come to flip bitcoin and will start using bitcoin for their payments; then the majority of people will increase the demand to make bitcoin legal currency.
Maybe then the Government accepted their request and legalized it.
There is also a possibility that the Government is issuing their own crypto digital currencies with certain rules and controls from the Government, so the possibility of legalizing Bitcoin will be very low.
Everyone cannot force the Government to legalize bitcoin.

[FurDich]

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.

Before bitcoin will legalize it should be undergo the due process of the law . Bitcoin should follow and file a legal committment in government issue .

[leavefifa]

Only time will allow the government to pass a lawful order to Bitcoin. Why do I say that? Bitcoin is a digital currency that the government can not manage is clear. The heads of each country see the challenges of Bitcoin if criminals use this digital coin. They want their country to be stable. So they have to find a solution to the problem. Time will help the government find the right solution.

[Magkirap]

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 they see that bitcoin can help their country's community and the people who leaves there then its possible for them to make it legalized in their country. Some government see bitcoin as a scam or something illegal , well we cant blame them since some people used bitcoin in illegal transactions. In my opinion , they will legalize it if they can get benefits and opportunities with bitcoin.

[MochaDeny]

If in the future BTC will be legalized by the government, as you might expect, local currency users will become increasingly rare or extinct.
And until now the government still has not dared to legalize BTC because fluctuating prices and corruption that cannot be tracked in my opinion will become a serious problem, as we know corruption in some countries has become so. If it is legalized by the government btc, many irresponsible new people will start appearing

[bajigur894784]

Maybe we can tell the government that Bitcoin can be regulated like other financial instruments. The government must know that Bitcoin will also be able to follow similar rules that already exist in the financial system, including Bitcoin can also be taxed. Maybe with that, the government will legalize Bitcoin.

[annaso]

Governments can pass a law enacting all the citizens to update their bitcoin address to the existing identification medium so that governments can trace the transactions.Governments can decentralise the infrastructure by franchising the process just like issuing licences to private banks.

[BryanRoseWalker]

Governments can pass a law enacting all the citizens to update their bitcoin address to the existing identification medium so that governments can trace the transactions.Governments can decentralise the infrastructure by franchising the process just like issuing licences to private banks.

the problem is that the government is only able to implement aml / kyc in the exchange markets of their own countries, the use of transactions from various wallets such as blockchain or myetherwallet will never be tracked by official authorization which causes overall confusion where there is no proper system to track everything.

all we can do is continue to develop positive arguments and stay in touch with the government from the potential of the blockchain system only, if they fully understand this, I'm sure all new regulations can be carefully thought out.

[nightandday]

There are two types of people in crypto:

Those who lick the boot of the state.

Those who don't concern themselves with their tactics of intimidation.