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Author Topic: BITCOIN'S CURRENT ISSUE  (Read 733 times)
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June 21, 2018, 09:27:00 AM
Merited by sneeze11 (2), Captain Sneeze (2)
 #1

Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?
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June 21, 2018, 09:34:22 AM
 #2

Bitcoin is facing many issues right now and it is hard to deal every one of them.
What are these "many" issues right now? slow network and expensive fees?

That's why as a community we need to help and support this innovation.
I agree on this but not all the people inside the community are going to help and there are people who are part of this great community are the ones who are giving FUD by questioning some problems that it shouldn't be an issue for bitcoin.

And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency.
I thought you're going to say fees and network but what about with legality? bitcoin is decentralized whether it gets legalized or not it will remain as it is.

What do you think will happen when the government finally recognize bitcoin?
Massive adoption and demand.

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June 21, 2018, 09:34:53 AM
 #3

Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?

Actually I don't think that legality is an issue as you can track every payment and if you develop good algorythm you can track users and be correct like 80% of for what purposes they use their money. This is because majority don't care about the mixing their coins. In some countries it is legal, in some it is not and in some it is in somewhat gray zone/gray area but ultimetly even if it is not legal you can still use it to pay for goods and services or yet to earn bitcoin online. Nobody is stoppoing you and from this year many companies actually include bitcoin payment option which is great if you have some and are looking to spend it, no need to transfer to fiat - use it directly.

I think that goverments, at least one with the msot power, regognize bitcoin even now and with rasing adoption others will take notice as well.

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June 23, 2018, 06:11:36 AM
 #4

If government have fully control over it then it will loose it's important feature of decentralization. But, taxing may encourage people to invest in this.
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June 23, 2018, 06:17:25 AM
 #5

so far you have only mentioned one thing and called that an "issue" but yet you claim there are "many issues"!

that one thing is not an issue that bitcoin is facing. it is mostly fake and in some cases it is an issue that some governments are creating for their people.
to begin with bitcoin is legal in most of the world. there is only 2 or 3 countries that have actually banned bitcoin and even there people don't care and they continue to use bitcoin because it is a censorship resistance currency and that is why i say it is not an "issue".














 

 

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ambisyon
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June 23, 2018, 06:30:26 AM
 #6

In my views, bitcoin is legal to many countries adopting the use of bitcoin and perhaps illegal for countries that banned btc in such countreis. I think the only issue I would raise is that too much FUD and negativity has been pointing to bitcoin where I think could also affect the btc market and the whole crypto market and this contributes to the bearish market we are now currently experienced. People should not believe in FUD and negative news about bitcoin since these are just ways to degrade btc that could affect the market price value of btc.

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June 23, 2018, 12:28:02 PM
 #7

Technically its not illegal but govt make it illegal as they have no control over it. But some countries accepted it despite the decentralization process and some even impose taxes on it. I think a little bit of taxes wont do any harm, It should be legalized everywhere because many are waiting for investing on it.
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June 23, 2018, 12:58:53 PM
 #8

Irrespective of bitcoin being a legal or illegal currency would continue to attract crticism from some people unless probably, a change in perceptions of such people towards bitcoin would cast away the criticisms on bitcoin. Per my opinion, if government is to recognize bitcoin, there would be a good news and the good news is that, bitcoin will achieve a significant increase in demand which will directly increase the value of bitcoin as well as the crypto market.

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June 23, 2018, 02:44:48 PM
 #9

Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?
Governments have very different priorities, [depends on developement/political caracteristics of each country] and decentralization doesn't tend to be one of them. In fact, government digital currencies could herald a new era of centralization, posing serious questions about privacy and the viability of true cryptocurrencies like bitcoin. This is the main issue of Bitcoin with governments!!
There's also some larger conceptual issues at play here; Bitcoin has proven that it's possible to create money outside of government-based financial systems, which forcing governments and central banks to ask questions about their role in the economies of the future. In my opinion, a digital currency which is backed, issued, and tracked by a government or a central bank authority would not be a cryptocurrency. So, governments and central banks should not have any major role in the economy of the future.

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June 23, 2018, 04:57:31 PM
 #10

Its true in recent times bitcoin facing some problems like many countries are banned bitcoin. For this reason peoples are afraid to invest on this project. They also take some initiatives for removing this problem. I hope in near future bitcoin will overcome this problem.
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June 23, 2018, 05:03:34 PM
 #11

I hate replying to threads with all capital letters in the subject but anyway.

The only thing that worries me is the power consumption of the network. All the other small issues can be easily fixed but if "they" find a solution to this tremendous amount of power required for a single transaction, nothing can stop the bitcoin anymore.

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June 23, 2018, 05:04:46 PM
 #12

Some of the countries are accepting bitcoin.. Legality is not an issue, its just the government wants to control bitcoin..

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June 23, 2018, 05:05:02 PM
 #13

Bitcoin can't be fully legal worldwide, some governments actually dislike the use of BTC and the crypto, for them because of BTC's anonymity and being a decentralized platform, governments would not be able to control or manipulate the flow of BTC, in simple words they cannot control BTC, because of this governments would instead mark BTC as neutral or ban it from their respective countries. What happens when BTC is banned on other countries, people then will be asking WHY is bitcoin banned on that country, then after that media can either spread negativity about BTC being used for drug, weapons and other transactions because of its anonymity, people then will start to stay away from BTC and recognize it in the most negative way possible, though we should not blame these governments, but we should be blaming the media and other influencers that spread negativity around BTC, though those negative thing about BTC is true, but I wanted to let these people know that positivity is also flowing around BTC, do not think of it as something only used in cruel ways, its also used in the most positive way possible, people have closed their minds about it and therefore would be hard for us to let them know that BTC will help us, this is the issue, the issue that we need resolve.

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June 23, 2018, 05:08:57 PM
 #14

The biggest fear for government is that bitcoin can be used in illegal business and they can not detect it because of the anonymity. That's why some countries forcing laws on Bitcoin. But I personally against the regulation of cryptocurrency as if it happens then there is no difference between cryptocurrency and fiat money.  
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June 23, 2018, 05:09:45 PM
 #15

- The things you give are not practical for me. What is the impact of Bitcoin and what is the most serious?
- Together with the Bitcoin community, it is worth supporting, but how?
- The government accepts Bitcoin as a precaution. This is really what everyone expects, when?

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June 23, 2018, 05:18:31 PM
 #16

That affect the price now is not news about the legality and regulation bitcoin in some country. more to the problem of people who do dump and hacking issue. and as a ordinary user that can be done and may be just sharing and good news of bitcoin as well as its benefits. even the facts there is many Popular media already trying spread good new about bitcoin its not give much effect for right know . its market effect no one can shutter.
Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?

Most of goverment in many country for sure already realized this phenomenal. even the smallest country that is arguably less adaptable to the technology many already know what bitcoin is and they are more likely educate people too avoid this. because the fluctuative price can make thier citizen bankrupt or loss everything. they just mention price but didnt mention benefit of bitcoin it self.

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June 23, 2018, 05:24:03 PM
 #17

Bitcoin is currently seeing a sequential decline of below 6k. The news that FB and TW and then Google prohibits the sale of tokens has a direct impact on the market. This is what I see most clearly.
Letting the government realize that Bitcoin may take a long time. But it would be better for us.

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June 23, 2018, 05:27:39 PM
 #18

Bitcoin is facing many issues right now and it is hard to deal every one of them. That's why as a community we need to help and support this innovation. And currently, the main issue that people are throwing to bitcoin is its legality. I personally think that bitcoin should be legal and should be recognize as a legit currency. What do you think will happen when the government finally recognize bitcoin?
Bitcoin has been facing a lot of issues since the beginning only this time people who are against it are more willing to pay black propaganda to destroy it knowing how potential it could destroy the current fiat currency..
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June 23, 2018, 05:28:50 PM
 #19

Legality of bitcoin is not an issue here because it won't change the nature of bitcoin and how it operates. The fact that some countries allow it to be traded and for it to have been discussed in high level international summits show that it is well recognized. As far as I am concerned, fee and speed are issues.

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June 23, 2018, 09:20:04 PM
 #20

Yes, many investors believe that one day Bitcoin will be legalized. Bitcoin will be used side by side with fiat money. But for that day to come, still a lot of time and acceptance is required.
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