Quote from: Awaklara on March 06, 2023, 06:49:38 AM

Quote from: Zanab247 on March 04, 2023, 05:51:17 PM

My way to class this morning with some of my lovely course mate, someone raise this question that if our government decide to adopt BTC or make BTC legal how will i feel? I told him that the day our government will announce that BTC is now fully legalized in the country, I will throw a big party to host all the bitcoiners in my environment to join me to celebrate. If your government decide to adopt BTC or make BTC legal in your country, how will you feel? Will you be among the people that will be angry because i know there are some people in our various places that think BTC is a scam digital currency which is not true, will you go to make them to understand it better in a positive way?

Legal in what sense? several countries have legalized Bitcoin related to asset ownership, but most people are still waiting for how Bitcoin is used to legally pay for goods and services.
if the government is going to legalize Bitcoin as legal tender, it will be the day the shackles of the old payment system end. some people will support this, for those who do support Bitcoin. but some who have difficulty will certainly oppose it. all take time to transition to a new system. much to be prepared and calculated by the government.

I guess he is talking about making Bitcoin legal tender, but that is ages away at least. Perhaps it is never going to happen, but my guess is that it is not even necessary and Bitcoin will find its own way into society no matter whether or not it gets officially acknowledged as legal tender.

Bitcoin just has not been criminalized in many countries. I don't think that many countries have explicitly stated that Bitcoin is legal. In most places it is just not illegal. I guess that many governments want to leave a door open just in case. Once you officially legalize it as explicitly written in the law, I assume it is harder to revert the decision than to just decide at some point to criminalize it.

But rest assured, no sane government wants to forego a significant amount of taxes and since they understood that it is essentially impossible to stop Bitcoin from changing hands, they rather "cooperate" with their citizens and offer regulation for taxation.