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Author Topic: Why government announce bitcoin is illegal?  (Read 4038 times)
Dahonglaya28
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September 14, 2018, 01:57:49 PM
 #541

Because government can't control it and its decentralized nature, enforcing a law making the usage of bitcoins illegal would be technically almost impossible.
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dvmd lionel
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September 14, 2018, 02:01:37 PM
 #542

Virtual currency is digital money issued in addition to monetary authority obtained by mining. Among others are Bitcoin, BlackCoin, Dash, Degecoin, Litecoin, Namecoin, Nxt, Peercoin, Primecoin, Ripple, and Ven. To prevent crime, such as money laundering, terrorism funding, and maintaining sovereignty.
Lauriel lyh
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September 14, 2018, 02:08:06 PM
 #543

Different because the government believes in cryptocurrency and also the minds of people in bitcoin so it is not legal in other countries.Bitcoin is also legit in most countries most of which are acceptable for bitcoin here.
arief.sutono
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September 14, 2018, 02:15:21 PM
 #544

I think that's because there are some people who use bitcoin as a way to make illegal transactions that cannot be found by the government. Because of this, many governments see bitcoin as illegal because they are controlled by them and do not have the right legalization process. legalize local money or money. Thanks
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September 14, 2018, 02:36:27 PM
 #545

Each state of the crypto currency is not profitable activity, the money of people who are engaged in this go to other countries, thereby the state loses a lot.

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Dadaro
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September 14, 2018, 02:45:19 PM
 #546

bitcoin is not illegal. it's just their way of preventing the mass adoption of bitcoin because it is a direct threat to them and to bakers. bitcoin may be used in illegal activities for payment method but so does the fiat currency and it is not considered as illegal.
Mudah_rezeki
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September 14, 2018, 03:05:49 PM
 #547

I think the government is wrong in predicting illegal bitcoin. Because bitcoin is a digital currency. For me bitcoin is not wrong. Kiss people mistakenly use bitcoin.
vendy86
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September 14, 2018, 03:11:03 PM
 #548

First you need to clarify which goverment you mean. Because some country already accept and legalize bitcoin as payment or investment. But i know there still so many country that not legalize or even ban bitcoin. Most of them do that because they wanna protect their citizen. They think Bitcoin is very high risk invesment, and i cant blame them for that.

bitcoin31
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September 14, 2018, 03:14:16 PM
 #549

Not all country are against to bitcoin or announce it's illegal. Because they have other country who are supporting bitcoin.
Bitcoin yes is use to illegal transaction and scamming but it's not bitcoin they use only bitcoin and bitcoin is legit. I hope before they release some news or anything against bitcoin they need to know the other side.

jiandong
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September 14, 2018, 03:14:29 PM
 #550

There are a number of points where the government does not work with bitcoin. this is a kind of pressure on the economy, lack of taxes and lack of control.
 the government is worried that its currency is out of control and can damage the existing order.
Lilianaa
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September 14, 2018, 03:31:12 PM
 #551

bitcoin as a way of having illegal transactions that can't be located by the government,,,many government sees bitcoin illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money....
Lansang143
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September 14, 2018, 03:33:04 PM
 #552

Government announced Bitcoin is illegal because they can control it.More people they use for illegal activities like money laundering and etc.But there's some countries accept Bitcoin.
Antu3032
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September 14, 2018, 10:23:04 PM
 #553

I think in most Asian countries it is illegal against bitcoin. In simple words it is a private currency that Govt can not regulate,track or control which will have effect on economy of the country. increase in crime and instability. But we believed that bitcoin is very helpful to us.
nayeel
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September 14, 2018, 10:39:01 PM
 #554

Different government have different agenda with bitcoin in the world.I think the main reason behind government declare bitcoin is illegal is its decentralised nature which directly affect their country economy by affecting their country own currency. However, the popularity is very high that a lot of people use it for various purpose like a real money and for generating income.
wasaisi
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September 14, 2018, 11:02:13 PM
 #555

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Maybe not all governments ban it because only a few have announced that Bitcoin is illegal. Therefore your question may not be correct. The possibility of them announcing Bitcoin is illegal because they don't want Bitcoin to control the taxes in their country.

lornadane
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September 14, 2018, 11:06:02 PM
 #556


But world wide all county are announced its illegal.


Your information is totally wrong and I afraid why you spreading such wrong information! Bitcoin is not illegal in all countries. A few countries announced it is illegal otherwise, most of the country supports bitcoin and cryptocurrencies. Maybe your country is a developing country, that's why bitcoin no tax system can harm your government's funds, that's why.

Escan0r
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September 14, 2018, 11:18:48 PM
 #557

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Maybe they don't want the economy of their country to be shaken or chaotic, so they better announce it like that. Even if we know that the crypto currency can get a big profit for some countries.

blockdragon
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September 14, 2018, 11:21:58 PM
 #558

as far as I know lots of governments don`t make it illegal but do not legalize it which is a different thing. So they make the possible payments through it but not guarantee it as a currency.

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Walter789
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September 14, 2018, 11:23:34 PM
 #559

I think the reason why other countries government illegalizing bitcoin because they are afraid to the bitcoin or cryptocurrencies power. Since government's are founded by one main power as a centralized they are probably scared that the new form of decentralizing the economic development are through the blockchain technology. So maybe government didn't like this kind of revolutionary movements of mankind that's why they control the virtual world by not allowing this modernization in our new generation.
chrisnewsome
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September 15, 2018, 06:34:30 AM
 #560

I think that Bitcoin and other kinds of cryptocurrency destabilize the current currency of the government. I think it will be a ticking bomb to the government if the cryptocurrency continue to exist.
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