Is it necessary for a country to approve Bitcoin?

[Kiritod]

All up to the country.

I believe every country already have e-payment, because they need to protect the customer using cryptocurrency & bitcoin have a high volatility. Some country can limited cryptocurrency to be used as a payment method but not limited as investment purpose.

The customer need some protection, their fund not decrease.

[masudginanjar]

It is necessary, because from the exchange transaction tax there can be income for the country.
But on the condition that a centralized local exchange must be given permission to operate in that country, if it is not permitted then Bitcoin will not rotate in that country.

No, if the country is in a state of conflict, like in the future there will be buying of weapons using Bitcoin and that is very dangerous.

[Muneeb22]

In so many countries peoples will use the BTC and also other crypto coins and the approve of the Bitcoin is not important but in so many that is block but the peoples will use that becasue the transaction fee is low and just the banks create these problems now, when the crypto is going to be legal that time no one can make any action on it.

[Hamida]

No, bitcoin doesn't need approval from country. Bitcoin will go on and more be needed at teh future.

[kent47400]

I don't think it's necessary because the country doesn't need Bitcoin.
The state only needs a tax on Bitcoin trading.
Therefore, the state cannot legalize Bitcoin arbitrarily because Bitcoin cannot be regulated.

So the state needs to accept Bitcoin which the country needs is a tax on the results of trading Bitcoin on a centralized exchange.

[Paglamon]

Bitcoin does not wait for approval from any country. Bitcoin is much more popular all over the world. So I think no country's government can control bitcoin. Bitcoin does not depend on the approval of any country's government.

[yemight62]

There are more people out there wishing to invest in Bitcoin but live in fear, uncertainty and doubts about Bitcoin due to the frequent attacks coming from the banks and governments. Once Bitcoin is approved in a country, a lot of investors in that country calm down and are able to invest under no tension and pressure.

It's clear and simple. If a country or nation does not want something, it means it's restricted and it's operations is a no go area for such place.  The same thing applicable to BTC and other cryptocurrencies. BINANCE announced lately that it will be closing it's operation in some countries, this is because those countries does not obviously support cryptocurrency.  So it's very important government support it

[Casual]

In countries where Bitcoin is not polite, there is a lot of fear in investing in Bitcoin. And there are some countries where Bitcoin has legitimacy where people definitely start investing.

[Emircan]

In countries where Bitcoin is not polite, there is a lot of fear in investing in Bitcoin. And there are some countries where Bitcoin has legitimacy where people definitely start investing.

In my opinion, which countries accept BTC, their country is very developed because BTC is an opportunity to help them increase their asset value as well as increase their income ability to help them develop the country as well as the economy. And the countries they do not accept, they are still afraid and not willing to accept, their country will go backwards compared to the future that is developing very quickly.

[Senin]

Bitcoin does not wait for approval from any country. Bitcoin is much more popular all over the world. So I think no country's government can control bitcoin. Bitcoin does not depend on the approval of any country's government.

This is a fairly common misconception.  Decentralized cryptocurrency is in dire need of legalization by states by establishing its legal status and conditions of circulation in society.  If this does not happen, then you should not even hope that bitcoin and other cryptocurrencies will be massively used as a means of payment.  You can always keep it in your wallet, send to each other, but if it is not widely used as a means of payment, then its popularity will fall over time.

[msz900]

Bitcoin approval is good for any country's economy because if they make the crypto currency legal then any person who can afford the mining can get some of the cryptos and can earn some money.

[Malam90]

It is not necessary for a country to approve Bitcoin but to cope with the present world, approval of Bitcoin is a country can play a vital role or their own digital currency as it is now a hot demand to most of the countries. Considering all aspects, approval of Bitcoin is a demand of time. Or, the countries can develop their own digital currency.

[XM8]

You are absolutely right because it is very important for very country to approve cryptocurrency.It is make a country modern.But some countries have effected had results.Many countries economy rate is very poor so that ware not control their economy rate .It make pressure on his country.

[Pheonyx]

I think even a government will approve bitcoin it will not remove the fear because it does not mean bitcoin is risk free. Aside from this the psychological effect when the market is  bad could lead anyone to panic and sale their bitcoin.

[anshor1]

There are more people out there wishing to invest in Bitcoin but live in fear, uncertainty and doubts about Bitcoin due to the frequent attacks coming from the banks and governments. Once Bitcoin is approved in a country, a lot of investors in that country calm down and are able to invest under no tension and pressure.

Well, if the countries approve bitcoin, I think It is good for investors there. Because I see at several countries have blocked bitcoin. Bitcoin is the future technology, No reason to against this technology, they should accept this technology.