Are we doing the right thing to convince government to legalize bitcoin

[ahmedbrown]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

[Coleth]

I think if many people are using Bitcoin to scam people and use the coin illegally we cannot convince countries to legalize Bitcoin. Bitcoin holders must be disciplined first, but as long as scammers are present it would derail the aim of Bitcoin.

[odpadnik]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated.

Partially true, but criminal don't have to use bitcoin (or any cryptocurrency) to scam other people. Not regulated isn't strong reason either since few countries such as Japan already make proper regulation for Cryptocurrency usage.

The government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from.

Not regulated doesn't mean it's something bad, evil or dangerous. Government at least should conduct proper research before blaming Bitcoin while the criminal is the root of problem.

You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.

"a lot" is vague estimation, but there are more scam activity/attempt which involved fiat as well and there are many news about people lost their money(fiat) because they're scammed. Scam involving bitcoin is more popular on news since Bitcoin is trending topic, but people don't really know about it.

All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

They always do that, even though they have different reason

Not everything is black & white, but I do agree on most points.

Thing is (and people / media often seem to "forget" that), banks and other methods of exchange have always been used (and still are) for all kinds of purposes. Scam? Yes. Legals stuff? Yes.

In the end of the day, will there ever be any way of exchange, that will be 100% scam proof? Legal does not equal secure. Regulated does not always mean "nothing can happen to you".

I'd sure love to see a future like in Star Trek, when everybody had some universal income and everybody worked for everybody..but long as there are greedy people out there, anything can and will be exploited.

Short answer, yes. Governments should work on accepting and legalising Bitcoin.

[gfalcon]

governments are rarely going to be totally truthful to their public, what people usually get is "part" or "half" truth

scams are everywhere, and indeed good government should do its best to educate/protect people from being fleeced, mainly educate, as people do need to learn and understand for themselves that some crooks are always going to be out there ...  self vigilance is best practice

are cryptos being used for scams?  yes, in some cases, of course, but most scams are still perpetuated by crims using fiat ...

problem reaction solution, government steps in as your big bro and tells you crypto is "dangerous" and therefore must be increasingly regulated

the present bear market in cryptos is due to increased adoption/recognition/regulation, mostly because governments are now getting involved

yes, bitcoin and cryptos are the future, they have the potential to change the world for the better, but the fact remains that fiat currencies are what people need to live off of, and pay taxes with

the real problem for bitcoin, and cause of its decrease, is government - government wont change (easily, quickly), they impose capital gains taxes on their people, those lucky enough to have invested in bitcoin and who want to enjoy their profit now are facing huge tax bills (capital gains taxes are like taking food off an investor/capitalists plate, they are the worst taxes of all)

so, people are having to sell btc to pay their fiat taxes owed, now, also, many governments have assets levels to restrict/enable people to recieve some welfare money, many people rely entirely on this, or partly on this, so - as governments take away payments from people, because they have "too many" bitcoin, people have to sell those bitcoin, in order to replace the fiat taken away from them in income ...

[Kprawn]

The governments will get involved no matter what you decide. They have a duty to protect the consumer and they will quickly

react if the consumer is being exploited. The SEC was inundated with consumer complaints about scam ICO's and they quickly

reacted to that. They are even looking into market manipulation now, so you could guess what triggered that. They do not

have to look for a reason to intervene, there are a lot of reasons for them to do it.  

[Choyor]

We do not need to convince the government to legalize Bitcoin, with the use of good and correct Bitcoin by the users themselves, we are sure if the government will legalize it, which in pity is there are still people who could have misused this crypto currency.

[gfalcon]

The governments will get involved no matter what you decide. They have a duty to protect the consumer and they will quickly

react if the consumer is being exploited. The SEC was inundated with consumer complaints about scam ICO's and they quickly

reacted to that. They are even looking into market manipulation now, so you could guess what triggered that. They do not

have to look for a reason to intervene, there are a lot of reasons for them to do it.  

yep, the genie is out of the bottle and isnt going back in, crypto and govt are married now, it was always going to be inevitable, crypto investors thus need to realise that the tax and social pensions (asset tested) systems are going to be responsible for much of the bearish price action in cryptos, both now and in the future, the tax grab and public purse are older, and far stronger, than any crypto revolution 

[Mhd-Bobbi]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

I'm not sure the government will make the bitcoin legal. they do not want their people to use the currency they do not use in accordance with the law made by the government. if the government approves the use of bitcoin it can be used by the community. how the fate of the government currency they make legitimate?
for bitcoin users if you feel someone is going to commit fraud. must be careful in using bitcoin currency.
all there will be fraud perpetrated by the people out there. the government's original money is also they commit fraud. and it depends on you how to use it and always be careful in making transactions

[alizalela7]

The right thing we should do to persuade the government is to make bitcoins useful and make them beneficial to our lives so that their government will recognize the value of bitcoin and they will acceptable bitcoin legally

[audaciousbeing]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

At this point, there is no going back truth be told that what has been done cannot be undone. I have been a victim of scam before and anyone who has been in that by any form whether thorough investment, exchange scams, gambling site crash or an outright scam would want to see that something is done to reduce all of this atrocities committed because of the 'anonymity' that surrounds bitcoin.
Personally, I think the discussion has gone beyond whether its the right thing to do or not. What we should be concern about is how will the regulation be implemented? Today we have various degree of KYCs asked by service providers depending on the direction they feel they want to torment their customers without anybody calling them to order that is where we need regulators to hold them accountable for the information they collect and how they should go about its use.

[fiulpro]

You should know that we can suggest but the final decision will be made by the government only.
The fact that they are legalizing the Bitcoins really means something else , it means that they are going to regulate it according to their rules and regulations and then take care of everything by themselves , its not like they will adopt anything as it is , it is a far fetched decision but for sure that is not gonna happen .
They will take whatever features are good for them and whatever features they like and then force the public to go according to their will.
I don't think that it's the threat to the government since they are regulating it so close.

[Wicked Sick]

Of course thats the right thing to do as without the governments legalizing Bitcoin and creating a framework and laws regarding the crypto currencies the institutional and bigger investors aren't going to enter the bitcoin markets, which is needed to get Bitcoin into the use of every person worldwide.

[GilbertQuintanilla]

Bitcoin is holding its success every moment and some day it will reach the summit of success and at that time government will autometically think positive about it.

[THATBTC]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

I'm not sure the government will make the bitcoin legal. they do not want their people to use the currency they do not use in accordance with the law made by the government. if the government approves the use of bitcoin it can be used by the community. how the fate of the government currency they make legitimate?
for bitcoin users if you feel someone is going to commit fraud. must be careful in using bitcoin currency.
all there will be fraud perpetrated by the people out there. the government's original money is also they commit fraud. and it depends on you how to use it and always be careful in making transactions
[/quote

eventually they will

[Pursuer]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated.

bitcoin is already legal. you can't legalize something that is already legal!

You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.

no I disagree. you are hanging around in circles that focus on the scams that has happened so all you have seen is the scams and nothing else.
besides if there are a lot of scams happening it means that bitcoin has grown too big and has a lot of usages and a lot of users that it has also attracted scammers. it is like fiat that has a lot of scams and scammers, more than anything in the world because it has the most amount of users.

[TheGodFather]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

That is why we need to ramp up our information drive, they have always feared the unknown and have always shied away from those that they don’t understand and this is no different. That is why it is needed we have to be alert, patient and active in ensuring what we can do even as individuals. People need to understand that we as cryptocurrency users stand by bitcoin and we do so by having the knowledge that it is not what they think it is.

[Missterio]

I think it's just that it just does not want to get involved with this because it's hard to control.

[whirlcoin]

One of the reasons governments point out for not legalizing bitcoin is the fact that is prone to scam and not regulated. The  government will want to protect his citizens from anything not regulated and anything that's likely to be defraud from. You will agree with me that that's alot of scam activities going on with bitcoin, there alot of news going on with bitcoin scams everyday which the authorities are always aware of.
All these continue to happens, the government will still have reasons why they will not approve and legalize bitcoin. As they will always talk about the disadvantages aspect of cryptocurrency and neglect the greater benefits cryptocurrency brings.

First of all I don't agree that governments want to save us from crypto currency scams,all they want to save themselves from economical crisis,of the crypto currency got more developed and used by everyone then the revenue of the government will decrease so they want to control the crypto currency and looking to earn more from high taxes.

[Crypto Mark]

To date, in many countries, Bitcoin is not the official currency. It’s one of the reasons why most countries still require users to pay income taxes, sales, payroll, and capital gains tax on anything that has value including bitcoin. It is our responsibility to ensure that we comply with any other tax and legal rules or policies issued by our government and / or policy makers in our area so that Bitcoin in the future will gain not just legitimacy and legalization but also sympathy from many countries.

[rawr1620]

scams doesnt mean its always bad but  it has done a negative view on bitcoin. legalizing bitcoin and a way to promoting in using it in a country shows that the government is open to new methods of a currenbcy in which can be used in markets.