Why bitcoins illegal ???? - page 13.

Nowl1935

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

Bitcoin was still illegal to some country, because its not recognize by the government constitution of law and they will not allow bitcoin to be a legal currency. Because in each country has only one recognized currency which represent to every countries identity.. Bitcoin don't have own country identity. Just like peso it represent the Philippines, YEN represent the country of japan. And other currency represents their country. But unfortunately Bitcoin don't have. I think this is one of the reason why some other countries bitcoin is still illegal.

Dizaster2015

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Bitcoin has circulated only on the Internet. It is difficult to deny. And walk in all countries, only the national currency. And no country will not allow the circulation of other currencies.

daiyuba1971

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Bitcoin will always be banned. Who controls the money, rules the world. I think the Americans will not allow a large spread of Bitcoin.

igorokavg13

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And how do you administer bitcoin? If he gets wide distribution, it is possible to destroy the whole world.

Sanekavg13

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

Using the money the government regulates the economy through taxes ensures the existence of the state. Bitcoin prevents and so its use will be prosecuted.

horace08122

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Nobody forbids use bitcoints. Just as long as their status is undefined. The government for the first time confronted with the phenomenon. Now senior officials think what to do with bitcoints

Dora Doll

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because every state has their rules and regulation and they have their own policies, if you going to start a business or going to do investment in a state you have to get permission from government and after that you can exercise such kind of activities. as bitcoin is still not recognize by any start or got permission form any state therefore it is still consider it as illegal.

Berns

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I believe that the more the government will delve into bitсoints, the worse it will operate the system. Introduce some restrictions, taxes, etc.

Daniel91

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Bitcoin can't be illegal because most countries, governments or state laws don't even recognize Bitcoin as money, currency or financial assets.
In my country, for example, nobody recognize bitcoin.
Even if I want, there is no way to report earnings from bitcoin to the tax authorities.
I can only report earnings if I sell Bitcoin and exchange to other, ''hard'' currency.

maydna

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

i think country will not give any statement about illegal or legal of bitcoin, but maybe they will only said that every people which used and play with bitcoin will have their responsibilities, so if anything happen, don't blame other people which don't used or playing with bitcoin. i don't know if there was any statement about illegal or not about bitcoin in many countries.

virtualx

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Quote from: Xester on September 13, 2016, 10:24:31 PM

Like everybody here saying, the government could not control it and they would not benefit. But I do not think so, here in our country it is like legal because we can buy or deposit our money through bank and then it will be deposited to our bitcoin wallet and then you can exchange it into bitcoins. The government still benefit from it through taxes that banks remittance center, those stores that were partner of bitcoin wallet through tax.

In theory it was not controllable by government. This was several years ago in 2011. In practice people use it to buy products which are taxed by the governments and exchange through banks. In the end a government still benefits from bitcoin and the benefits outweigh the negatives.

Quote from: ObscureBean on September 14, 2016, 01:10:44 AM

Because the system doesn't yet have a proper mechanism for dealing with it. The fact that Bitcoin is used worldwide makes it harder for individual countries to set up laws to control it. And since countries can't control users outside of their borders, it is easier for them to just ban their own people from using it.

It's easy to create a law but a law is obsolete if they cannot enforce it. Usually law makers have zero knowledge of technology.

ObscureBean

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Because the system doesn't yet have a proper mechanism for dealing with it. The fact that Bitcoin is used worldwide makes it harder for individual countries to set up laws to control it. And since countries can't control users outside of their borders, it is easier for them to just ban their own people from using it.

Xester

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Like everybody here saying, the government could not control it and they would not benefit. But I do not think so, here in our country it is like legal because we can buy or deposit our money through bank and then it will be deposited to our bitcoin wallet and then you can exchange it into bitcoins. The government still benefit from it through taxes that banks remittance center, those stores that were partner of bitcoin wallet through tax.

coynedterm

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Quote from: virtualx on September 13, 2016, 07:10:57 PM

Quote from: JITENDERPAR3 on September 13, 2016, 07:00:51 PM

Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

i think bitcoin is not illegal . but some persons are using bitcoin for illegal purpose so to get control over the floq of illegal activities some of the countries have banned the use of bitcoin in there countries . overall bitcoin is safe and pure legal .

There is a board about bitcoin legality. https://bitcointalk.org/index.php?board=74.0
Initially governments were very cautious about it (political program of early users) but as it can bring money into their country they turn more positive towards it.

i had also read this thread @virtualx . here in this Board only few countries had banned the bitcoin but many of countries are looking to declare as a real currency . my country also is in this list to declare btc as safe and legal to use .

coynedterm

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

in my opinion there is no solid reasons to say bitcoin as illegal . because in reality it is not illegal but it is a way to make payment from any part of world to any part with independently .
i hope no one will say it as illegal or it is uses for illegal activity .
all over i will say bitcoin is a gift of god .

noictib

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

i think bitcoin is not illegal but use of bitcoin in sime countries is illegal because many people using bitcoin as criminal activities .
further more i will say there is no legit way which proves bitcoin as illegal .
it is a better way for worldwide payment but still some people uses it as only for earning purpose .

virtualx

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Quote from: JITENDERPAR3 on September 13, 2016, 07:00:51 PM

Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

i think bitcoin is not illegal . but some persons are using bitcoin for illegal purpose so to get control over the floq of illegal activities some of the countries have banned the use of bitcoin in there countries . overall bitcoin is safe and pure legal .

There is a board about bitcoin legality. https://bitcointalk.org/index.php?board=74.0
Initially governments were very cautious about it (political program of early users) but as it can bring money into their country they turn more positive towards it.

JITENDERPAR3

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

i think bitcoin is not illegal . but some persons are using bitcoin for illegal purpose so to get control over the floq of illegal activities some of the countries have banned the use of bitcoin in there countries . overall bitcoin is safe and pure legal .

sirohige

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

in my country bitcoin is not illlegal system, it's depending about for what you use bitcoin, if you using bitcoin for illegal activity you will be a fugitive, bitcoin is like normal currency

virtualx

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Quote from: innocentbee on September 07, 2016, 11:58:15 PM

why bitcoin is still illegal in many countries of world Huh

Is there any solid reason behind this ??/

Illegal in many countries? It's a minority. Bitcoin is legal in most countries of the world. You need to go to some countries in the former USSR for bitcoin to be illegal.
Governments are cautious about it in the western world, but it's not illegal. The usual arguments are terrorist, crime, money laundering.

Before all the "get rich quick" guys came to the bitcoin space, it was a very political movement.
You need to go back in time to when bitcoin was first created.

June 2011:

Quote from: prattner on June 01, 2011, 09:16:37 PM

I have become fascinated with Bitcoin since first reading about it a few weeks ago. It seems to me that a successful, thriving bitcoin currency is very threatening to governments, because it reduces their power to trace transactions, confiscate money, and pay their bills in inflated currency. Bitcoin takes power from government and puts it firmly back into the hands of the people. It has a small, but real, chance of becoming one of the most liberating inventions since the Internet itself, and will therefore be detested by governments around the world. If it is to survive, every effort must be taken to protect it from their attacks.

That was the general view. I'm skeptical if it does reduce a governments power:

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