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Topic: 12 years and no country has approved Bitcoin ?? (Read 2325 times)

gurunanakji777

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Re: 12 years and no country has approved Bitcoin ??

January 27, 2021, 12:58:45 PM

#161

What happens then when Warren Buffet said bitcoin will end up badly in 2018 and did you see Bitcoin hits again all-time high 40,000$ level and he can not predict everything perfectly even I respect him. You must know many countries have legalized Bitcoin and people are using it without any problem and I must say many countries banned it as well. When you can use it legally in your country then what is the issue.

kiki8899

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 01:24:54 AM

#162

The fact is that the biggest reason why Bitcoin has not been accepted by governments is that its decentralization will damage the credibility of the government, which is the least acceptable to the government. . . .

Keila Faith Villanueva

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 01:56:54 AM

#163

some countries have approved bitcoin. don't you know that some countries spares no expense on mining? that's a proof

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 02:08:12 AM

#164

Bitcoin does not need approve. All decentralized crypto does not need approve.
It is a part why Bitcoin is very successful. It doesn't need approve to be working. You just send BTC where you want, to an address and it will be arrived later. You can transfer to anyone anytime anywhere you want. Ok, you need internet but when internet gets more famous, it won't be an issue.

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 02:57:26 AM

#165

Quote from: dimonstration on October 09, 2020, 03:22:54 PM

Each country have their own currency so there is no need for them to approves it as we can easily use it as an alternative with some rules and protocol assigned by the government. Since bitcoin or any crypto operator is from different countries it will be hard for any government to approves it. So it's still good even they don't approve it we were able to use and knows it.
About bitcoin ends badly, iy may happen but not this early, there are still many uses and advantages that can be use bitcoin in making transactions easier. Those who believes and studied it were able to know the importance it can give to them.

I think btc will end up with either like gold, held by some institutions and private players and government, or all taken away by governments which might ask tax from these holders.

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 03:16:48 AM

#166

Quote from: Mdsumon0066 on October 09, 2020, 03:00:37 PM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

By not banning bitcoins in their country would be a good thing itself and to be supportive of the leader's opinion about BTC is something you need to be happy about. It's not something you can approve because no one is there to sign some agreement, as you can see, Satoshi Nakamoto is nowhere to be found and the only thing the government can do is let the people use it the way they want in a legit way because BTC is a decentralized coin and there are tons of people who own them.

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 03:31:41 AM

#167

Quote from: Mdsumon0066 on October 09, 2020, 03:00:37 PM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

What do you mean by approval? If you want some country to declare Bitcoin as the national currency, then I am afraid that it is not going to happen anytime soon. So for the next few decades, Bitcoin will exist as an investment asset, and not as a replacement for fiat cash. But at the same time, trading of Bitcoin is either legal or semi-legal in most of the countries around the globe.

Now let's talk about Mr.Buffet. Back in 2018 we had a major correction and Buffet used that opportunity to badmouth Bitcoin. But he has remained largely silent now, after the rally started. Last time I heard about him, he was suffering from dementia and involuntary bowel movements. He has around 1-2 years remaining in his life, and it will be better if we leave him alone to do his anti-Bitcoin rants.

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0t3p0t

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 03:40:12 AM

#168

Quote from: Mdsumon0066 on October 09, 2020, 03:00:37 PM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

What? Bitcoin has been adopted and accepted as new form of payment method by some countries though local exchanges were regulated to prevent money laundering. Are you not aware of that?

Those Billionaires has a lot of things to cover up their wealth so it is not sure whether Warren Buffet is telling the truth just to play safe about his holdings that is the spirit of decentralization Everything can be done in secrecy. Bitcoin will not end badly because it's journey has just begun.

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 10:06:15 AM

#169

Bitcoin is not approved yet, because countries has their own local currency and there is no clear understanding in tax system in connection with cryptocurrency.
Bitcoin is not yet as popular as fiat currency. Lets skip USD, EUR, RUR, CHF, JPY, GBP and look at something less popular. Imagine if they are Bitcoin. They are not approved in counties as well. Even though they can be freely exchanged to local currency.
Good example is Turkey and Turkish Lira. TRY is used everywhere, but EUR and USD are good for payment in tourist area. Of course these fiat can be used in small shop somewhere deep in country, but Turks would prefer TRY more. First Turkish Lira appeared in ~1920 and it took decades for EUR and USD to be freely accepted. That is why 12 years for Bitcoin is a very short period to speak about adoption or approvement.

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k@suy

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Re: 12 years and no country has approved Bitcoin ??

January 28, 2021, 10:44:20 AM

#170

Quote from: bakasabo on January 28, 2021, 10:06:15 AM

Well, fiat currency i guess will never become out of the picture even the world adopt bitcoin or cryptocurrency as one of the currency it is because the fiat currency didn't just used as a means of exchanging from currency to goods but it is also the identification of each nation. However, i bet that the worlds adoptation of cryptocurrency especially bitcoin will not yet far it is due to bitcoin had already a record breaking ATH that made it famous these past year 2020.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 05:44:15 AM

#171

Quote from: worldofcoins on February 11, 2021, 03:37:57 AM

There's no power in this world for your kind information that can destroy the bitcoin or any cryptocurrencies, so it's better not to discuss anything related to "destroying" or "end up badly."
Talk about approving the bitcoin; well, the government can't accept any cryptocurrencies.
They're volatile and decentralize, and government believe it can destroy their economy

because of the instability of bitcoin, no one can regulate and be regulated, it will move with the system that already exists in itself. I think there are countries that have recognized and accepted bitcoin to be used as a legal means of payment. but there are also those who on the contrary only acknowledge it as a means of trade only, it needs regulations that do not overlap with each other which can actually be chaotic.

in my country the government does not allow and does not recognize that bitcoin is a legal means of payment, so there are no transactions using bitcoin and everything related to crypto. But the government does not prohibit doing things other than cypto, such as trading etc. when required for legal payments the government provides the company to convert it to fiat.

so no problem with bitcoin and crypto all countries finally have to get used to the developments that occur.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 06:22:09 AM

Merited by Robertshon (1)

#172

how can the government approved crypto? Because govt. can not control Bitcoin. Else this is risky for underdevelopment country. There are some people who do Money laundering. Each currency is important for underdevelopment country.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 07:53:57 AM

#173

Quote from: Mdsumon0066 on October 09, 2020, 03:00:37 PM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

States do not approve of bitcoin or other cryptocurrencies. They can legalize or ban her from walking on their territory. Legalization takes place by determining the legal status of cryptocurrency and establishing the order and conditions for its circulation in society. At this time, many states have already legalized bitcoin, however, of course, not yet as massively as we would like. At the same time, it must be said that states are unlikely to actively support the cryptocurrency. They can legalize, but not actively support.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 07:58:07 AM

#174

Very sad to say that bitcoin trading is not legal in many countries. looking no chance due to its decentralized system. No Government will accept it because Government want full control over money which not found in btc.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 10:00:47 AM

#175

Quote from: Travel Standard on February 11, 2021, 07:58:07 AM

in some countries maybe illegal but OP was wrong to say that no country has approved bitcoin when we have a lot of countries who are already accepting bitcoin and regulating it, Philippines is one of the countries that are bitcoin friendly, and I can attest to that as I'm living in this country.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 10:13:26 AM

#176

Quote from: Mdsumon0066 on October 09, 2020, 03:00:37 PM

:)Bitcoin was launched in 2007. It's 12 years and still no country has approved Bitcoin ?? Huh

and in 2018, 2nd richest man "Warren Buffet" said "bitcoin will end up badly"

It's not surprising because bitcoin is a decentralized currency and no country would immediately use a currency that they cannot control or could go out of control. As the market price continues to increase it's getting riskier to hold your bitcoin as well because no one really knows what bitcoin could end up but it has a great potential to adopt in some countries or maybe get support from the government making it an asset. We could agree to his opinion as the price continues to go to the moon or if the bitcoin continues to adopt countries might find a way to make bitcoin a centralized currency we never know what could happen if they want to adapt.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 01:36:55 PM

#177

Quote from: Coolcryptovator on October 09, 2020, 03:37:45 PM

Many countries have been allowing Bitcoin. You should read this topic, List of Countries Where Bitcoin/Cryptocurrency Is Legal & Illegal (Banned). But if you are talking about approve it officially then it wouldn't happen since Bitcoin is a decentralized cryptocurrency. There is quite a difference between legalize bitcoin and approved it as an official currency.

Regarding prediction badly end up, there was so may similar prediction from the beginning. But still, Bitcoin is alive and I believe it will be live for a long time or forever. This kind of prediction wouldn't affect the bitcoin, because Bitcoin always depends on its community.

What I believe in when it comes to Bitcoin usage is that these countries do not have legislation or decrees that would legalize them. But that does not mean that it is not being used or being utilized by many individuals or companies. It is being used and there are companies that uses Bitcoin as a payment method. So in my opinion, there is really no need to approval or a need to legitimize the said coin since it is already being used by many people in many countries.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 01:51:32 PM

#178

It's a common idea that government will not accept or approve bitcoin because it's a decentralized currency, can't be controlled and might end up ruining the economy instead of leading in advantage. The government can't control bitcoin, no one can and that's the one and strongest reason why no government accepts the currency. We are lucky that most countries are legalizing the use of cryptocurrency. It can change depends on the situation where it'll be more profitable.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 02:57:42 PM

#179

This should not be an issue to Bitcoin users, so far it is not a crime or banned in your country. Decentralization which is a result of the volatile nature it possesses which is what I think is one of the factors that won't make some country to approve Bitcoin as we know that no man can control Bitcoin.

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Re: 12 years and no country has approved Bitcoin ??

February 11, 2021, 03:49:08 PM

#180

No country has made bitcoin official? Are you sure?
Bitcoin is known as the official currency in many countries and is used for transactions. Even in Korea, there are devices that pay you to receive some bitcoins.
increase your knowledge in this field, my friend! Wink

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