Some information on Bitcoin

[Bd officer]

Even if Bitcoin is illegal in a country, the people of the country can invest or trade in Bitcoin. But there is an advantage if Bitcoin is legal in the country, Bitcoin can be used without any legal hassles. The country I live in is Bangladesh, Bitcoin is not legalized in our country. No initiative has yet been taken that Bitcoin will be legal in the future. However, many people in our country invest in Bitcoin and many people do trading. Using cryptocurrency is a legal offense in our country. Cryptocurrency users are punished if the administration finds out, so we have to be very careful. We have an advantage that we don't have to pay any tax on our bitcoins.

[hd49728]

Even if Bitcoin is illegal in a country, the people of the country can invest or trade in Bitcoin. But there is an advantage if Bitcoin is legal in the country, Bitcoin can be used without any legal hassles.

There are pros and cons of being legal or illegal. Legal means citizens can use Bitcoin with law protection and if they get scammed, they can file reports to police, banks for help to get their money back. Illegal means citizens can use Bitcoin but law does not protect them with trading or investing activities. If they get scammed, they lose money, no one will protect them and support them to get money back.

The country I live in is Bangladesh, Bitcoin is not legalized in our country. No initiative has yet been taken that Bitcoin will be legal in the future. However, many people in our country invest in Bitcoin and many people do trading. Using cryptocurrency is a legal offense in our country. Cryptocurrency users are punished if the administration finds out, so we have to be very careful. We have an advantage that we don't have to pay any tax on our bitcoins.

Tax is another thing. No regulation, not legal yet, means you will be less watching in tax. Better protections with laws also mean stricter regulation on personal tax.

[fuguebtc]

Even if Bitcoin is illegal in a country, the people of the country can invest or trade in Bitcoin. But there is an advantage if Bitcoin is legal in the country, Bitcoin can be used without any legal hassles.

There are pros and cons of being legal or illegal. Legal means citizens can use Bitcoin with law protection and if they get scammed, they can file reports to police, banks for help to get their money back. Illegal means citizens can use Bitcoin but law does not protect them with trading or investing activities. If they get scammed, they lose money, no one will protect them and support them to get money back.

But to get police and legal protection, we need to pay our taxes in full and follow all the regulations set by the government, including KYC. But I think many people won't like this, not too many people like being controlled by the government and not too many people like paying taxes. Meanwhile, if we invest illegally in bitcoin, we will avoid taxes but will not be protected by law if we fall into a scam trap in the market. It can be said that both have advantages and disadvantages.

And the funny thing is that many investors are very greedy, they want privacy and don't want to pay taxes but they always want to be protected by the law every time they fall into a fraud trap. Just like when FTX collapsed, many people complained and criticized the government for not protecting them but how many investors voluntarily pay taxes to the government?

[AprilioMP]

Every country in the world should support Bitcoin because it is the best currency in the world. To those countries who have not supported Bitcoin, I would like to say to them, if you support Bitcoin soon, your country's economy will go a long way.

It is too personal and we should not force our personal thoughts to be accepted by the public.
Bitcoin, with all the basic knowledge and continuing to understand Bitcoin in detail, is indeed a currency with all the advantages that are known to many parties, but it is not necessary to designate it as legal tender because there are various factors that are the cause.

For us, by approving Bitcoin as we wish, we admit that the economy will progress. I don't require them to make Bitcoin like in El Salvador, by introducing Bitcoin without having to ban it is enough to help a country's economy.

[Zanab247]

I have been to BTC industry over some years, I don't think BTC is a bad digital currency and, it will never be a bad digital currency when you use it rightly because every currency in the world has their rules which is among some things that is making their citizens to continue value the particular currency in their country likewise BTC too.

 I will advise other countries of the world to support BTC and, it will help them to fight unemployment, delay in transaction that is fighting their citizens and if they will be able to adopt and support BTC, I believe they will begin to see some positive changes in the areas of unemployment, delay in transaction and economic which are the good things any countries of the world that will support BTC will continue to enjoy.