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The top concerns for most countries pertaining the Bitcoin legislation are the possibility of using it in criminal ways, its influence on the national currency and taxation issue.

There are three destinations where the most venture capital flow is registered: US, Canada and China.

The steps taken towards the Bitcoin legalization in each country are presented in the bullets.


United States
positive approach towards Bitcoin cryptocurrency
Bitcoin is not recognized as a currency but a money service business (MSB)
Digital Currency money service business are obliged to reporting, registration, and record keeping
The first country to set the regulated Bitcoin exchange, Coinable
ItBit, Bitcoin exchange has received first banking license from New York State’s Department of Financial Services

Canada
positive approach towards Bitcoin cryptocurrency
Bitcoin is recognized as a commodity
Bitcoin exchanges are MSB which are going under AML laws
Bitcoin exchanges have to register with FINTRAC

China
the biggest scale of Bitcoin market
only individuals are obliged to make bitcoin transactions
bitcoin transactions are barred for every financial institute and payment company

Germany
have an advanced Bitcoin regulation framework
Bitcoin is not recognized as an official currency but a form of private money



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not by personal names or IP addresses but by cryptographic digital keys and addresses. A digitaltether обзор Unlike open source projects before it, however, the bitcoin network asset creates an incentive for contributors to remain on the same branch and instance of the network software, instead of risking a fork. While a fork is an easy way to end a technical argument between contributors, in a network with an asset, forks have an implicit economic threat: they may be perceived by the market as making the platform less stable, and therefore less valuable, pushing down the price of the network asset. Like a commercial company, Bitcoin’s organizational structure incentivizes contributors to work out their differences and keep the group intact, for everyone’s financial gain.bitcoin украина

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The basic insight of Bitcoin is clever, but clever in an ugly compromising sort of way. Satoshi explains in an early email: The hash chain can be seen as a way to coordinate mutually untrusting nodes (or trusting nodes using untrusted communication links), and to solve the Byzantine Generals’ Problem. If they try to collaborate on some agreed transaction log which permits some transactions and forbids others (as attempted double-spends), naive solutions will fracture the network and lead to no consensus. So they adopt a new scheme in which the reality of transactions is 'whatever the group with the most computing power says it is'! The hash chain does not aspire to record the 'true' reality or figure out who is a scammer or not; but like Wikipedia, the hash chain simply mirrors one somewhat arbitrarily chosen group’s consensus:dag ethereum

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