Negotiation with government

[nazakethussain]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

[bhm45]

I think that is not an easy matter, even if more than 60% of citizens in a country support the government crypto would not issue a policy on its support (even if there is a tax on every transaction and income), because as far as I know (from this forum) very much the opinion that the government wants full control over crypto in the country, different if the country wants to enter and join the crypto space.
and the tax policy in every income in my country has been imposed on every crypto investor (but still crypto is still illegal and not illegal) and of course there are still many people who are absent to pay income tax from crypto. so far this is all I know.

[Yellowish]

If we need to negotiate to the government all we need is to follow the rules of agreement of the government. If that happen the cryptocurrency is now centralized and every time we transact o making a business we need a third party to agree our every transactions. It safe but sometimes its unfair due to putting biggest taxation in every transactions.

[Doctor]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

I think every countries has national currency. I think It is difficult to negotiations with government to legal bitcoin.

[UNIVERSE]

Briliant idea. I think the first step that must be done so that the government accepts and legalizes bitcoin is by imposing taxes first. Taxes will benefit the country so it is likely that the government will agree to legalize bitcoin.

[sibolis]

Not that easy.  You know, currency is a symbol of a nation.  Even a micronation, have their own currency.  If you learn economy in school, you will know that currency is a complicated thing, you can't just change or set the value of nation's currency just like that.

[Speaker]

Bitcoin will not become a legal currency, but it may well become an authorized means of payment.Then people will quietly use it and pay taxes.

[Nanagyasi]

I believe by now several governments are considering ways to benefit from this new and awesome technology. Well, this wouldn't be a bad idea as far as it will sustain crypto.

[doc]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

I think It is difficult thing. Every country has national currency. But maybe It will hapoen at the future.

[rizqillah]

What if people convince governments of their nations to make Bitcoin as a legal currency or what if we agree to give tax on our bitcoin income? Will government then make Bitcoin a legal currency.

I think If the bitcoin legalized, It will be centralized platform because the government will controll it. I am not agree.

[laughingburger]

If bitcoin is able to help the country grow i believe government will accept crypto legalization in the country.

[purpleseven]

I think there are some countries that might reject this. Investment in crypto looks risky because it can be manipulated.

[ReyXchanger4]

I think there are some countries that might reject this. Investment in crypto looks risky because it can be manipulated.

Yes, I agree with you, because the purpose of the government wants its people not to experience losses basically. but if managed properly by the government using legal regulations from the government it would be better for the community to use Crypto currency.

[zenbook]

Even if the state agrees to accept a tax on storage or transactions with cryptocurrencies, it will not be able to completely cut off the movement of offshore accounts that will simply be, but no one will know where they are from. The government cannot radically change the bitcoin model, it can only adapt.

[Ragnar]

That's not going to happen so easily, some of the rules are violated in bitcoin and it may be a rival to fiat money. That's why some countries ban everything related to cryptocurrency.