Topic: Why government announce bitcoin is illegal? - page 21. (Read 6074 times)
Now the countries can be divided into three groups in relation to bitcoin: those who banned, who allowed and those that have not yet decided how to behave in this situation. In 2018, some countries have already chosen their own way.
Bitcoin can not be identified by the transaction or who is doing it. This could be a reason for bitcoin ban.
Governments are not crypto fans because they hate it when they can not track something. Soon they will have to deal with it and to let it happen
This is simply not broad detail being throughout the world headline but, and it's really simply certain for anyone nations around the world which stop or perhaps failed to desire to embrace bitcoin. Their particular very good purpose has been as a result of decentralizing physique regarding bitcoin which usually cannot be governed from the authorities method which usually they may be frightened regarding.
Why government announce bitcoin is illegal?, Because maybe when the government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire world. More reason why government announce Bitcoin is illegal that Bitcoin is a private currency that government can not regulate, track or control which will have effect on economy of the country. Moreover because the government afraid that the currency in that country will no longer apply to society and will be replaced by something new, that is Bitcoin. If that happens then the currency in that country can be worthless and unused. Therefore the government is illegalizing Bitcoin.
Many governments do not allow the use of Bitcoin in their respective countries because of the decentralized nature of Bitcoin.As they are decentralized in nature so government has no control on them and the transactions made through Bitcoin can't be tracked by any government or bank.So the people involved in the transactions remain unidentified.Due to this feature of anonymous transactions, many people use Bitcoin as a mode of payment in illegal dealings such as drug dealings,ammunition dealings etc.This is the reason why many countries are declaring it as illegal.
I think because they found that some people use Bitcoin in illegal transactions, they fear that fiat currencies will no longer apply to people and as a means of payment are not recognized and not protected by law, and credit institutions are not permitted to use it as currency or payment .
This is not illegal it's just decentralized by them which they are the one who discriminate and lookdown bitcoin because they already have what they supported which is bank, only governments are having negative thoughts in crypto but most of people are likely to involve due to the opportunities. If they will banned crypto then probably there are other ways to transact because there are also some governments involve in crypto,they are also produces coins or programs.
yes dear , bitcoin also illegal in our country , but i am trading with localbitcoins ,
I think because they found that some people use Bitcoin in illegal transactions, they fear that fiat currencies will no longer apply to people and as a means of payment are not recognized and not protected by law, and credit institutions are not permitted to use it as currency or payment .
In my opinion because bitcoin is very insecure for the country, it is because we cannot trace the owner of bitcoin so that it can be used for corruption in the country.
the government cannot control bitcoin and it is worrying if there is fraud when making a transaction or investment because the government views bitcoin from its negative side which can be detrimental to the bitcoin country very easy to use as a money laundering tool
the government cannot control bitcoin and it is worrying if there is fraud when making a transaction or investment because the government views bitcoin from its negative side which can be detrimental to the bitcoin country very easy to use as a money laundering tool
They could make it illegal which would totally change the culture surrounding users, services, and developers alike.
The government make money from the bank through tax paying . They have not figure out how Bitcoin can be taxable.secondly they control the banking sector but cryptocurrency such as Bitcoin and altcoin has no government of its own and it cannot be control by any body . The government are scared right now knowing that it will cripple their source of taxation if they announce Bitcoin is illegal.
I think it is a temporary situation because for anything new to the world during first implementations there are certain level of rejections that can happen and for Bitcoin it is the same scenario but after some time people will understand more about Bitcoins potential and benefits so those accusations might stop with time eventually even without an effort but if that wont happen then there will be a problem for Bitcoin
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
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
Honestly, not all the government announce that bitcoin is illegal. In my country, they really don't tell in public that bitcoin is not legal. If ever some of the governments have such statements maybe they did it to warn their people for the possible negative impacts of it. Another one is to stop the unlawful transactions that might use by people who aren't acting in the right side. Also, the governments want to stop the usage because they can't control and gain in here.
Bitcoin is anonymity, which is very convenient for scammers. In addition, the government can not receive tax from operations with bitcoin, regulate it, which makes its position partially illegal.
It must be carefully observe before it can be accepted
Governments can ban whatever they want. But can't enforce it. Any government can declare cryptocurrency illegal but it will have no effect since they cannot control it due to the decentralized nature.
They can't ban bitcoin, but they can ban exchanges.
Of course, this would not eliminate the presence of bitcoin.
Of course, this would not eliminate the presence of bitcoin.
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