Vietnam plans to legalize Bitcoin in 2018

in bitcoin •  5 months ago

If successful, Vietnam would join Japan and a handful of other countries that have explicitly legalized bitcoin and digital currency transactions

 

"Prime Minister Nguyen Xuan Phuc has authorized the formulation of a plan that could result in the legalization of digital currencies by next year, reportedly ordered the country’s central bank, ministry of finance and the ministry of public safety to study and draft the legal framework."

http://www.zerohedge.com/news/2017-08-26/vietnam-plans-legalize-bitcoin-2018

Good for Vietnam, and great news for Bitcoin. Bitcoin and blockchain technology is unstoppable. The more people use it, the more resilient it becomes.

 

bitcoin-495995_1280.jpg

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Much good news for the Bitcoin right now. The future looks bright. Thanks for this news.

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You're welcome! Bitcoin and Litecoin are legends. That's why I believe they will win in the long run. (Along with many other crypto currencies like Steem, ETH, Neo and others)

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Thank you for sharing @scandinavianlife ...respect...I upvote

Sounds good but here's what we are forgetting. Why the hell was it legalized in the first place? What mentality is over people that does not allow them to legally deal with bitcoin. That's crazy, smh. Thanks for sharing.

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Well..if "everyone" starts using a decentralized currency, what will happen to the banks? I believe, either the banks /governments need to find a way to regulate Bitcoin (either through harder taxation, or some other form which they will make money on) OR they will have to adapt to it. An old and allmighty institution like the banks will not just give up without a fight. Either they will fight it hard, or they will find a way to join in and make money.

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I want it to stay unregulated. I want all the banks to crash. LoL. Sounds extreme, but think about this...for someone with poor or fair credit, what is the real purpose of a bank. What services are they really offering you that a debit card service couldn't offer you.

Great article! Do you think other spin-offs like Bitcoin Cash may be something to worry that could threaten the dominance of Bitcoin?

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There are probably other coins that are as good, or almost as good (or even better? I'm no expert in the technical details) as Bitcoin. But Bitcoin is legendary - meaning it is the first, it is the most known, and it is by far the most used. It has also gotten proven to work a lot like gold (protection against inflation) And currency is pretty simple. If people decide Bitcoin is worthy, then it is worthy. The only question is how the regulators, states and banks will fight it.

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Bitcoin is actually the Mother currency to all crypto's. It was first which came into existence that's why it got so popular within few years. $4400 for a single Bitcoin? Can you believe it? This price is just insane for an Internet currency. People still purchase Bitcoin as the store of Value, as long its value rises people keep purchasing it. That's how it conquered the whole market and will definitely continue to do so.

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And the market is still so incredibly small! The entire crypto market is still what? The same mcap as Netflix?

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Yes, for now. Who knows what future holds for tomorrow. For something which don't even exist yet, this market cap is more than enough :)

This post has received a 14.71 % upvote from @nettybot thanks to: @scandinavianlife.

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Upvoted scandinavianlife58 ty

Very Nice Post; Voted and followed you and kindly see my posts and vote me and follow me, As we can see our future posts and give vote to each other. Thank you @scandinavianlife

Good times are here