Why Cryptocurrency is not Legalized Despite the Many Benefits

[RussianEnglishTranslation]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

No, there were cryptocurrencies before Bitcoin. There is a patent on decentralized currency by david schwartz dating back to 1988. XRP was created before Bitcoin.

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[trauchot]

Cryptocurrencies really change our world in better way, because already all areas use cryptocurrency technologies that develop these areas to new heights on an ongoing basis, and with the help of cryptocurrencies we can make very fast money transfers around the world in a matter of seconds, but the fact is that as we all know, there is a lot of black money in cryptocurrencies because of which most countries do not want to legalize cryptocurrencies and because of this, if cryptocurrencies will be legalized in all over the world, it will take a lot of time, but when this will happen, cryptocurrency market will be very big.

[Jolankaa]

 Blockster has a great article on the history of the beginnings of the Blockster and the Ethereum. https://blockster.com/blockdesk/1217_bitcoin-vs-ethereum-a-brief-history

[RBLT]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

If bitcoin became legal, that means there's a Tax to pay each months/year. Bitcoin is the most widespread and best known cryptocurrency. It is a peer to peer, “decentralized” payment system. Contrary to money that is legal tender, Bitcoin is not issued by a central bank or government.

[gwdf1]

They simply wanted to have full control and it's not possible with crypto currency that's why many countries still unable to legalized this
system they don't want their people to skip thier obligations.

And the fact that they can also bypass govertment laws which is giving this users freedom to what they wanted to do with thier money.

Cryptocurrency can be legalized only if all countries have a single currency and a single central bank. At the same time, the central bank must fully control all transactions in cryptocurrency that are made in the world. But we understand that this is not possible in the near future.

This way it will not be a cryptocurrency any more. One of the main feature of crypto is unregulated from authorities, so if there is a central bank that control transactions, we eventually get a big centralised financial system that is likely to be too slow because of too many requests at the same time, so there is no hope on legalised centralised crypto.

[Devifajarina]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

It's not a real deal issue, but it's more about the truth of what happened, so instead of giving reasons or other references to dispute what you're saying, almost everyone knows the first cryptocurrency was bitcoin.

But cryptocurrencies also have positives and negatives that we should be aware of, this is an act of minimizing the risk, bitcoins are expensive not only because of the limited stock provided, but because they have started a long process of refinement, so today bitcoin is one of the best in the world crypto.

[lizarder]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

Almost everyone will agree with what you say, regarding the first cryptocurrency is bitcoin, this is in line with what happened and even the truth, since 2009 bitcoin has been talked about by many people to this day.

Bitcoin is the only one that can provide a very tempting bargaining value, many people want this investment to be made, but not everyone can make it happen, bitcoin is expensive not only because of its limited availability but there are other reasons that push bitcoin more expensive for now.

[Melignya]

Of course there are many advantages, but there are also disadvantages. Basically, some functionality simply contradicts the laws of this or that country. I can tell by the example of El Salvador, they will legalize cryptocurrency from September 7, just people have to understand that crypto is not dangerous, but it takes time, but I will leave a link to the article, I think many are interested in it https://blockster.com/blockdesk/1135_el-salvador-legalizes-bitcoin-becomes-a-haven-for-crypto-start-ups

[herizal85]

how will it be legalized because it can reduce the value of the official currency in our own country, and not all people can understand how to use crypto, and the security aspect is also not there and the risk of loss is also very large..

This may also explain why the cryptocurency has not yet been legalized in some industrialized countries Because some citizens or local people are unfamiliar with the cryptocurency, and it is difficult for them to understand, and in my own country, only some are familiar with the cryptocurency.

[FrozenBit]

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

[zhelis74]

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

Cryptocurrency still not fully accepted and recognized by every government and the most reason I see for this is because of incapability of taxation. Since crypto is fully decentralized system it is hard for the government to control and collect taxes on every transaction but despite of this failure they can never take down the crypto currency because of its unique blockchain technology system and as as long as there is internet then crypto may continue forever.

[livingfree]

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

What a comparison.

It is what people see on it and as well as the governments. A lot of governments don't like it but we're here and does like cryptocurrencies because we see the benefits from it.

Maybe, it's not just really for everyone.

[darahjuang]

how will it be legalized because it can reduce the value of the official currency in our own country, and not all people can understand how to use crypto, and the security aspect is also not there and the risk of loss is also very large..

The important thing is that the state allows it. When the state has allowed cryptocurrencies, then security and risk must have a solution. I think that countries with the facilities they have will find it very easy to control crypto transactions and for sure they will still manage so that the value of the country's currency does not decrease.

[Kelvinid]

The only reason is that governments are against to decentralization, governments are those who control many things in our lives and everyone who is earning money by their properties will have the tax which is they cannot do it with cryptocurrency so they keep on restricting cryptocurrency.

We know that there is so many advantages that we can have in the world of cryptocurrency, we can see it but there are also a lot of disadvantages as there are so many crimes such as hacking, scammin,g and laundering in the world of crypto and I think that is also one of the reasons why they don't legalized cryptocurrency.

The sad reality is that the government doesn't want people to have an easy life but they just wanted to feel hard and waste their time with the file of workloads in which we can make it better and be more productive with the aid of crypto. It was just the government don't like it and another reason is that they can't get benefits from crypto as they are not in control of this. Too sad to say like that but they are too selfish and there is no way to spare us but they are happy to see their people keep on suffering while these leaders are enjoying their life.

[Kasabus]

The only reason is that governments are against to decentralization, governments are those who control many things in our lives and everyone who is earning money by their properties will have the tax which is they cannot do it with cryptocurrency so they keep on restricting cryptocurrency.

We know that there is so many advantages that we can have in the world of cryptocurrency, we can see it but there are also a lot of disadvantages as there are so many crimes such as hacking, scammin,g and laundering in the world of crypto and I think that is also one of the reasons why they don't legalized cryptocurrency.

The sad reality is that the government doesn't want people to have an easy life but they just wanted to feel hard and waste their time with the file of workloads in which we can make it better and be more productive with the aid of crypto. It was just the government don't like it and another reason is that they can't get benefits from crypto as they are not in control of this. Too sad to say like that but they are too selfish and there is no way to spare us but they are happy to see their people keep on suffering while these leaders are enjoying their life.

The government is supposed to aid us to live our life in its most convenient way. And one thing that can be of great help is the use of cryptocurrency. Unfortunately, the government failed to do so not because they want us to suffer but its more of their own personal benefits. They don't want to legalize crypto because it can never be fully controlled by them and the fact that its also transparent so it can be a big threat for government officials.

I'm definitely not against with the government but in this case, i feel like its unfair. But i cannot blame the government too maybe because they think bitcoin is the root of all scamming and money laundering. So let's just leave it that way. Maybe its a matter of time that there will be new sets of government officials that are more open to new technologies and are more transparent in their motives.

[rozak]

how will it be legalized because it can reduce the value of the official currency in our own country, and not all people can understand how to use crypto, and the security aspect is also not there and the risk of loss is also very large..

The important thing is that the state allows it. When the state has allowed cryptocurrencies, then security and risk must have a solution. I think that countries with the facilities they have will find it very easy to control crypto transactions and for sure they will still manage so that the value of the country's currency does not decrease.

if it felt easy, of course, crypto would have been legalized long ago as a legal tender or investment asset.
Many considerations force the government to impose a crypto ban.
some make the legalization of crypto assets as investment assets. not as a means of payment. some prohibit crypto mining or crypto companies in their country.
The most publicized reason I think is related to crypto which can be used as an alternative to money laundering and controlling taxes on crypto asset ownership.

[FrozenBit]

There are many reasons for this, but basically I see that it is not yet universally accepted because there must still be objections. Just like you see a benefit, but other people don't see it as a benefit, try a product like cannabis, and you'll see ' why?'.

Cryptocurrency still not fully accepted and recognized by every government and the most reason I see for this is because of incapability of taxation. Since crypto is fully decentralized system it is hard for the government to control and collect taxes on every transaction but despite of this failure they can never take down the crypto currency because of its unique blockchain technology system and as as long as there is internet then crypto may continue forever.

And sometimes that's just their excuse

We can't be sure that they banned us from using it, but they still use it, no one knows. The controlling factor depends on one's perspective, and it depends on the economy or politics of each country. The problem is that life balance is unlikely, and the solution from blockchain or crypto will also be a double-edged sword and there will be opposing sides on that issue.

[Samandra]

Different countries will decide whether to legalize Bitcoin according to their national conditions and policies. Bitcoin is not illegal in all countries. El Salvador has already used Bitcoin as a legal currency.
The use of Bitcoin allows the freedom of funds and is completely controlled by individuals. Some countries ban Bitcoin because its high degree of decentralization is different from the traditional financial system, which limits the government's control of capital interests. But with the passage of time and the popularity of cryptocurrency, it is allowed to invest in Bitcoin in most countries.

[Ozero]

Decisions on the legalization of cryptocurrency are made by states and their governments. Cryptocurrency benefits people, not governments and government agencies. Therefore, they are in no hurry to legalize it. At the same time, it should be recognized that despite this, so far in a significant majority of states, cryptocurrency is either legalized, or they intend to legalize it, or is allowed to circulate by the silent government. Therefore, while the situation with the circulation of cryptocurrency is quite good, it continues to spread rapidly around the world.

[mumang siat]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?
Since 2009 Bitcoin was launched by a person on behalf of Satoshi Nakamoto (aka) there have been very many positive things that have been obtained by people in the cryptocurrency space. Because Bitcoin has a limited stock, thus making the price of BTC expensive and then in anticipation of people being able to invest in crypto, Altcoins were born as an alternative.
Please give suggestions if my post is not correct.

Even if we don't agree that the first cryptocurrency is bitcoin, then what reference do we want to give for the truth, BItcoin was launched by someone who called himself Satoshi Nakamoto, but no one has been able to prove where he lives until now .
Many people believe bitcoin to be the most expensive because of the limited number, but when compared to other coins, this reason is undeniable, there are also many coins that are created in limited quantities but the price of the coin is not able to match the price of bitcoin.