Why government announce bitcoin is illegal? - page 19.

ParveZ219

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

Government holiday announced that cryptocurrency is not legal because many works like gun smuggling and drugs smuggling done using cryptocurrencies as they can't be traced so government is also banning cryptocurrencies is in many countries but nothing to worry in future they will unban it too.

arc67583

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

I don't know why governments do such things and there are no solid reasons they have given to the world for baning and making certain restrictions against Bitcoin to use as a digital currency which is really unfair for a great invention like Bitcoin and a technology like Blockchain and my main concern is if something happens to major cryptocurrencies like Bitcoin, Ethereum and other how many will have to suffer the losses because even some say sill the crypto community is small we see a considerable amount of people who invest in the market so lot of individuals will loose everything

MadisonWood1212

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Because the governments of these countries can not see the value that Bitcoin can bring to their economies. They are afraid that when Bitcoin can circulate in their markets, the risk of inflation and abuse of coin on the wrong things.

Coongcoongler

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They simply do not believe that bitcoin can be used freely and they are afraid of the fact that anyone can use it from conducting online transactions of such illegal activities.

Yakapo

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Cryptocurrencies are not accepted by the government across the globe. While China has blocked crypto exchanges, U.S. banks are steadily declining cryptocurrency purchases.

I can give you reasons but many have already given you the answer. But simple answer could be governments don't like decentralization. It takes power from them which they don't like.

NelfiNovita

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because bitcoin is indeed banned in some countries and few countries can accept bitcoin. the government prohibits bitcoin because bitcoin is heavily used for illegal things because bitcoin is also a means of payment in the form of online transactions so it is very easy to use it. Another reason why the government claims that bitcoin is illegal is that they fear that bitcoin can replace fiat currencies so that fiat currencies are no longer valuable and this will have an impact on a country's finances. they reject bitcoin because bitcoin is not taxed

cetald

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This is because the government can not regulate bitcoin. Therefore they simply forbid it. This is the case with all financial instruments that can not be regulated.

ladyinredcoins2018

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

This news is not new. There are many countries that illegalized it and there are countries that openly receives it this has been going on the past 9 years. Bottomline is for nine years it has stayed and continue to grow.

funconxx

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Well, the government always says that the reason they announce illegal bitcoin is as an action to prevent the occurrence of various illegal activities such as money laundering, terrorist financing, and to protect their people from the possibility of fraud. But, personally, I doubt that, I think the real reason is because Bitcoin goes beyond their control, therefore, they prefer to announce illegal Bitcoin.

mikaeltomcruz12

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In my opinion it is because our government are scared and to prevent losses maybe also because of the news about bitcoin scam. And some are using bitcoin for illegal purposes like unregistered online casino's.

Triwiyono

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bitcoin is still illegal in some countries, bitcoin is still illegal in my country. but if the government has not banned or has not closed all sites to access bitcoin, in my opinion there is still no problem. even though the government says bitcoin is illegal, but if we can still get it and use it in internet, its no problem.

Star_Bucks

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

I think they don't know all the things and the benefits of having cryptocurrencies in a country. They just know the bad side or the negative possible outcomes of allowing cryptocurrency in their country.

cutecute

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

I think government announce bitcoin is illegal because they wanted to destroy it. They also know that if people knows that it is illegal there is a chance that the worker here will be decrease because they will scared to our government.

ngano ba

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This is really normal that government announces that bitcoin is illegal, because every business in the country where it is operating ,should ask government permits , so that it will recorded as legal and legit business operating in the country, if government does not recognized cryptocurrency and bitcoin is illegal opereations.

nagobinga

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maybe in some countries it is illegal but I don't know whether in Indonesia it is illegal or not because bitcoin is very easy to break currencies in the real world until this time the price of 1BTC has continued to rise.

Mariela

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Simple..
Because they can't get money for tax or failed to trace bitcoin holders for additional value added tax.

maichimoto

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

it's unlucky you live in a country where they can't understand why bitcoin should be embraced. Or perhaps they understand it too well and want to prevent people from getting into power

tokenabu

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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.

megalith07

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Quote from: emrul1996 on August 31, 2018, 02:13:51 AM

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

I imagine that may be because of the impact of the BTC value development which has an exceptionally shaky development that makes BTC extremely unpleasant in the event that it is utilized to lead transactions in a few nations with the goal that the government forbids the course of BTC.

Rocktop044

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Bitcoin mining, trading, and general circulation is legal in majority of the world.
Only a handfull of governments have limited it's circulation.
As awareness in the potential in this technology increases, and ways of making it safer arises.
It's adoption would increase.

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