Why bitcoin requires approval from countries ?

[svetochka.yakovleva.93]

because each state holds it back because of a lack of understanding how to control it, but as everything becomes clear I am sure that every state will not mind working in such a market and cooperate with the crypto currency

[posi]

The reason why bitcoin need approval from country is to make bitcoin to be use as legal tender just like fiat currency and once this is done it will make surge the price of bitcoin cause alot of investors will hop in. Besides, it will also help bitcoin in going mainstream cause approval may woo the rest of countries.

[sammyp]

Bitcoin can be used in a country without the country’s acceptance of the use but countries need to accept bitcoin in order to make users feel safe when using it. Accepting bitcoin by a country will also give it recognition.

[android17]

Well there are many reasons like
1- To make it worldwide
2- To make it part of the bigger economy
3- To integrate it with the normal people use to create a bigger impact
4- To counter the misuse of power that the banks have over Fiat
5- To provide people an alternative way to do transaction
People can moan all they want but without the consent of the bigger economies and most countries it's very unlikely that Bitcoin will be able to penetrate the main market.Bitcoin is trying to break into a market which has been here for centuries with very few that were able to counter it's dominience and Bitcoin has a long way to go.

The government need to study the effects of bitcoin on their country before they approve it thats why. Specifically in economy, they need to study about, what will be the effect on their economy if they accept btc on their country and in banks. Also about the used of bitcoin in illegal transactions, illegal tradings in black market, selling of guns ang hiring people to commit crime.

[rose8963]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

You have to know that the bitcoin girl at the moment is constantly falling and fluctuating greatly, this bitcoin adjustment is partly due to the manipulation of whales and sharks. It is a small number of people who hold a large amount of bitcoin, so that in order to have a stable market, not to be dominated by these people, there must be government involvement, more and more countries Participation is easier to control and stabilize bitcoin prices.

[suzanne5223]

Bitcoin can be used in a country without the country’s acceptance of the use but countries need to accept bitcoin in order to make users feel safe when using it. Accepting bitcoin by a country will also give it recognition.

I agree with what you said cause country approval of bitcoin is the samething as evangelizing bitcoin cause the people will have positive mind towards it and ignore the negativity.

[basty03]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Every country have law that need to be obey so before they decide to enter the bitcoin to there country they need to this discuss it before they approved it. It's for the better of all users of bitcoin in their country. Because we all know how bitcoin risky is.

[waichi]

Bitcoin should have legally complied with the regulations of the government in order for them to accept using Bitcoin. I think the very first thing why the government is being strict about Bitcoin is because it can be used for illegal activities. Just like what just happen in the dark web wherein Bitcoin have first known. I think the government has their point on why they worry on Bitcoin's anonymity features. And I agree that this feature can be used for tax evasion and money laundering.

[DoublerHunter]

Bitcoin needs approval because it is a serious currency and it is not like a currency that will not give effect to its users and investors in a country because bitcoin can affect the overall country if there will be no careful decision making so it takes time before bitcoin gets an approval because the government do a lot of research first.

[Tiger Junk]

Bitcoin should have legally complied with the regulations of the government in order for them to accept using Bitcoin. I think the very first thing why the government is being strict about Bitcoin is because it can be used for illegal activities. Just like what just happen in the dark web wherein Bitcoin have first known. I think the government has their point on why they worry on Bitcoin's anonymity features. And I agree that this feature can be used for tax evasion and money laundering.

Every country has its own rules and regulations to be followed. And even though, bitcoin is decentralised in nature, it still requires approval from countries it wishes to be operated. Same reason why some countries has the right to ban bitcoin.

[dongyi17]

I think it is necessary for a country approval before using it because bitcoin will not be made available or use in any country without their approval or without their consent although it is a digital currency but still it can't be use in a country without it access to the government. an also it helps promote and build bitcoin to make it more stronger and larger than ever

[Core.BUSTER]

It is true that bitcoin is in dire need
  approval and it is necessary because in order to increase public confidence in bitcoin, and it is great for increasing the value or bitcoin price itself.

Bitcoin needs approval from countries, cause if one country gives approval to bitcoin many bitcoin users are believed that bitcoin is not scam cause it is legal and there investment are safe and I know more people are interested to join in bitcoin cause they know they earn more income.

[Getmon]

Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?

Government approval is not really required. But the approval signify a lot of things that will prove to be beneficial to the growth of Bitcoin and to the assurance of the users that the mode of payment they are using is deemed legal in the country where they are. There is a big difference between using something that is allowed simply because there is no particular law prohibiting it and using something that is officially recognized or acknowledged by the state.

[maskeffec]

After getting approval from a country, of course, people can freely use bitcoin locally and exchange it with fiat without worrying that you are doing illegal activities. Bitcoin actually does not require approval to be used anywhere. You can use it as long as you have an internet connection and device.

[wolffy0216]

After getting approval from a country, of course, people can freely use bitcoin locally and exchange it with fiat without worrying that you are doing illegal activities. Bitcoin actually does not require approval to be used anywhere. You can use it as long as you have an internet connection and device.

Yeah right, bitcoin does not need approval, only those countries that want to regulate it needs approval to legally use bitcoin and maybe adding tax if possible so that the governments can also get good profit from regulating it

[TopDev]

Bitcoin is a financial instrument, whether we like it or not. And like all financial instruments must be approved by the government of each country.

At this moment it's not approved but we can still buy stuff with it. It can help but it's not necessarily  to be approved.

[nikki4]

Of course to legally used it for financial transactions or any payment method in that country it approves the use of Bitcoin. I was hoping that Bitcoin will continuously grow and spread thoughout around the globe. In more years to pass and surely more countries will engage to the use of Bitcoin.

[nikiknowsnothing]

As everyone said bitcoin doesn't require approval from any country to be used by its people. Citizens of any country can buy and sell bitcoins as long as they have internet. But it could be called as illegal activity if your country has banned bitcoin.

[adnandanish102]

Actually,bitcoin have to restrictions to be used in any country.Many people are using bitcoin in their country where bitcoin is banned but this is illegitimate.But in the countries where bitcoin is permitted,here using bitcoin is legit and users can buy and sell their bitcoin freely with flat currency.

[MetalGear]

Because by agreement it can make people more trustworthy in putting their assets in bitcoin and it can make or have a good impact on bitcoin prices and also smoothness in trading or in transactions in the purchase of goods and services.

If bitcoin is legit in your country many people's are interested to join in investing in bitcoin cause they have trust to putting there money in bitcoin for investment. They know investing in bitcoin they gain good profit, and they can easily to transact like trading or purchasing of goods and services.