Why Cryptocurrency is not Legalized Despite the Many Benefits

[darahjuang]

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.

[sisikin]

As a decentralized currency, Bitcoin's development is not subject to excessive government restrictions or influences, while the cryptocurrency economy is subject to peer-to-peer Internet protocol monitoring.
Cryptocurrencies have not been widely accepted by businesses and consumers, and their prices now fluctuate so much that they are not suitable as payment methods.

[anu1908]

what do you mean by not legalized? your post doesn't explain much about it, and it looks like a general description about bitcoin instead. i suggest you google crypto regulation first, you'll find out that government has been regulating the space for quite some time now.

[ajochems]

what do you mean by not legalized? your post doesn't explain much about it, and it looks like a general description about bitcoin instead. i suggest you google crypto regulation first, you'll find out that government has been regulating the space for quite some time now.

Legalising is based on your own country government. They will do as per their wish. Most important one is tax. If they want some taxes from the people in the pandemic. Surely they will legalise and get a profit from it.But if illegal, huge money in economy will go to individuals.

[ampu]

Cryptocurrency is just a form of software and is created by non-state organizations and individuals. It is like stocks in the primitive sense of governments, so the recognition of cryptocurrencies as currency is a threat to national currencies. Until now, the analysis and discussion of cryptocurrencies have always been a controversial topic, but now we see that cryptocurrencies do not have much impact on the national economy, so they will gradually be adjusted.

[shinratensei_]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?

I do agree with it but the idea of cryptocurrency has been ever spoken by someone before satoshi. Satoshi was creating the real implementation of crypto into the bitcoin as the first crypto

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.

Your explanation was correct and why did you feel bad about it? The only problem is your explanation didn't match with the title of your thread coz your explanation didn't relate to the legalization of bitcoin nor cryptocurrencies. What's your point?

[vv181]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?

I do agree with it but the idea of cryptocurrency has been ever spoken by someone before satoshi. Satoshi was creating the real implementation of crypto into the bitcoin as the first crypto

No, it's not the first cryptocurrency. Some of the ideas that underlying of the Bitcoin design or concept has already been implemented, but it spread/used across many fields. Neither Satoshi implement those ideas as the first crypto, but instead, Satoshi is able to combine those unrelated concepts into Bitcoin with an additional modification that suits Bitcoin as what it's like right now.

[HashingTower]

what do you mean by not legalized? your post doesn't explain much about it, and it looks like a general description about bitcoin instead. i suggest you google crypto regulation first, you'll find out that government has been regulating the space for quite some time now.

They should keep regulating but it's not going to work on decentralized projects like BTC for example, the gov hate everything they can't control and BTC dev/creator is no where to be found which is a very good thing, Nakamoto saw this coming 💯

[Natalim]

what do you mean by not legalized? your post doesn't explain much about it, and it looks like a general description about bitcoin instead. i suggest you google crypto regulation first, you'll find out that government has been regulating the space for quite some time now.

They should keep regulating but it's not going to work on decentralized projects like BTC for example, the gov hate everything they can't control and BTC dev/creator is no where to be found which is a very good thing, Nakamoto saw this coming 💯

Bitcoin was created by Satoshi so we can have all the freedom on our own money and take its full control. But since the government don't want to legalized the things that are uncontrolled by them so definitely, bitcoin has always been denied for legalization. And since its highly decentralized, totally different from fiat which is fully centralized. Instead, they put high restrictions in bitcoin and the rest of the cryptocurrencies in the crypto market.

But for some countries, their leaders were able to see bitcoin's potentials for their country's economy and came up legalizing it. El Salvador was a great example where bitcoin has become a legal tender and if this one will work out, might as well other countries will start legalizing bitcoin or crypto too.

[Rengga Jati]

To my knowledge the first cryptocurrency was Bitcoin. Do you agree?

It is not about to agree or not. but, this is the fact.
Actually, I am still confused with your title and also the content of your posts.
Did you ask why crypto is not legalized? Or did you want to confirm about the Bitcoin?
If you want to confirm it, just read this very completed information about
A Short History Of Bitcoin And Crypto Currency

And the question:

Explanation Why Cryptocurrencies Are Not Legalized?

Legal or not will depend on the regulation of a country. It may be different.
There are countries that legalize cryptocurrency.
There are countries that ban crypto.
there are countries that legalize crypto only as a commodity asset, but not as a currency (payment method, ex: my country Indonesia).
Each country still has a different view, interest, other policies, and different views of Crypto, and may also be related to conditions in the country and various encouragement and considerations from various parties.
But there are also countries that once did not legalize Crypto and finally now legalized Crypto.
So, this is growing continuously.

[Alisha-k]

Crypto currency is only banned in few countries so you don't say it's not legalized. It's fully in use despite the daily treat from most world leaders. It only a matter of time and most of this nation's would accept it fully using it as an alternative most of exchange for goods and services.

[blockman]

Why are you separating your explanation with your title and what you've just said on your thread. But let's all go with not legalizing cryptocurrencies. This is dependent on the countries that don't like crypto or they see it as something bad or against the nature of their finance. But to be honest, cryptos don't have to be legalized and recognized by those countries because what makes crypto keeps going are us, the people that are into this community that has given value to it. And those countries that have banned and might have ban it can't stop that revolution.

[herizal85]

Most countries have legalized bitcoin itself as a legal tender, but there are also a small number of countries that have not legalized it because they are afraid that bitcoin will be used as a terrorist financing tool or other negative things.
want to legalize bitcoin itself.

[indah rezqi]

I am more convinced that Bitcoin is the first cryptocurrency. Cryptocurrency has had a very positive impact on the people involved in it, I agree and many people who have an important role in making decisions in a country also feel the positive impact of crypto, but because one and two things are considered to damage the country's economy, it is not legalized by all countries.

[Argoo]

Cryptocurrency is a completely new phenomenon in the financial world. Since it is decentralized and cannot be controlled by states and, in addition, has a very high degree of volatility, states are in no hurry to legalize it, preferring to take a closer look at it for now. But due to the fact that the G20 countries have so far decided that cryptocurrency does not pose a threat to global financial stability, such legalization has already taken place in many states. It is already positive that only in a few countries the cryptocurrency is prohibited for circulation. In general, so far, cryptocurrency is quite successfully accepted by people, organizations and governments.

[lenovop-70]

Illegal as payment method here, but its legal when we keep it as asset and investment.
The untrackable transaction is one of many factor thats why Bitcoin still not legalized in many areas, and some of them use blockchain to hide their money from taxes. But as the time will go, Bitcoin will legal in many areas (with certain rules), i think the government is on thats direction, they just confused how to make the right regulation with it.

[rhomelmabini]

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.

Your OP and the title seems totally misleading I wonder what you really want to know, if it's the legality of Bitcoin or the potential it may bring. Your post somehow was not correct, just my two cents. This may viewed as speculation but cryptocurrencies would somehow getting legalized in the near future for most countries.

[harizen]

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.

There's no correlation between what you have said to the thread subject. Please share your thought to start a good discussion.

In most countries, bitcoin is accepted but not under the jurisdiction of a country. Since there is no law about it, any fraudulent activity on bitcoin won't be covered by the government.

You can start doing some research on those bitcoin-friendly countries and those who totally ban crypto to somehow feed your mind. Explaining it here will be long.

[mindrust]

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 is already semi legalized.

That suits the governments because if or when the things go bad, they can seize your coins or  won't let you trade your coins and they can say that they never legalized crypto anyways. Remember, crypto is all experimental even after 10 years passed.

The gains are huge because the risks are huge.

[OrangeII]

legal and illegal issues actually depend on the country where you are sheltered. however, what you said is true. however, I think it's just an early explanation of bitcoin, and it's not a legal reason or not.

however, the problem why bitcoin is not legal in some countries is because of the rampant fraud using crypto, and also a threat to state revenues, such as competition with Fiat, taxes, and others. However, the policies of each country are different. if you go to China or India, then their bitcoin has been banned for some reason. however, if you go to the US or Japan, you might be able to use cryptocurrency there. Again, each country has its own policies and reasons why they don't legalize bitcoin or cryptocurrencies.