Topic: Why government announce bitcoin is illegal? - page 23. (Read 6074 times)
I don't think any country (accept few underdeveloped countries) actually announced bitcoin illegal to be used or anything like that. Most of them just states that they are not a legal tender and is not recognized as a legal currency by them. This does not mean that using bitcoin is illegal. You can still use them without any issue as long as you are reporting your tax or not committing any crime.
Many things have to be thought of by a government because it will be seen as a profit and a loss if you want to legalize. because it might affect trade in that country or also to keep the government from being blamed if there are negative impacts that occur later. but usually even though it is illegal, it does not prohibit transactions other than transactions as legal payments.
There are lot of topics on this forum, that will give you answer on this question. In short it because of decentralization of BTC. Governments can't take taxes if do not know your wallet address. Also you can buy illegal things for BTC, and they don't like this too.
This is because they are scared of it. They are wondering how it came into lime light and since they don't know the identity of the founder and they can't control it, they are frustrated and then to call it illegal. But be told they like the 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
First of all, base on my observation not all country are not yet announced that the bitcoin is illegal. there are some country that are not prioritize or make as a big deal to the said digital money which is bitcoin in other words government did not care about bitcoin because they confidently that there is no nothing worried about bitcoin, some official government knew that bitcoin could give a problem if they give a care about to.
But generally, i think the main reason why most of the country did not legalized bitcoin because there are some netizens that used bitcoin in not appropriate way or they used a transaction that is unusual in the world of cryptocurrency.
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
Well; all of the countries are not announced BTC as illegal. There have so many BTC friendly countries like Canada, Australia, Japan etc. Actually, Crypto Currency is a new industry, it will take little bit times to understand the real value. Few countries are scared because BTC can transfer anywhere, anytime & any amount so, the governments are hypothesis that, if BTC and others crypto’s used for the illegal goods (drugs/weapons) buying and selling process.
But, the good news is, day by day the usability of Crypto currencies have been increasing in all over the world.
As we all know that, governments are greedy for the power and control. They want to control each and everything under the regime but Bitcoin and blockchain technology is something based on the fundamental principle of decentralization that takes away the power from centralised authorities and passes it to the users. That is a more democratic way of dealing with most of the things and since the interest of government is getting affected, the government is declaring it illegal.
It is so unfair with bitcoin. May be the government does not know much about bitcoin. But we can not say anything about this. They will investigate about this. May be very bad happened by some users for bitcoin. That’s why the government did this.
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
I think that the government has critical reasons for making Bitcoin illegal. The most important reason why Bitcoin is illegal is that it destabilize the structure of the government, internally and externally. The government have its own form of currency to stabilize the flow of economy through the country and also to the world economy. When Bitcoin was introduced in 2009, it become a trend, rapidly reached the exact value of today's currency, even surpassing it. The government gives services and institutions to its citizens by collecting taxes from them. Once Bitcoin overcome the current currency, it will lower the value of taxes that the government collected. It will lead to disruption in the flow of economy, leading to major problems.
This is because they are scared of it. They are wondering how it came into lime light and since they don't know the identity of the founder and they can't control it, they are frustrated and then to call it illegal. But be told they like the bitcoin.
in the end bitcoin will be legalized like gold, the proportion of creators is in the tax strength of bitcoin users in their country, but it is complicated if bitcoin still applies as a currency connected to fiat, there must be a strong guarantor to be able to align with the currency
but I am sure there will be a solution for this because in general bitcoin is very potential for alternative alternatives to the future financial system.
Well, Bitcoin is not perfect. It has Pros and Cons. But, I think it gives a lot of options and opens a new world. It shouldn't be illegal, but governments have another opinion. That's the usual of governments 
Ror me it is because some drug lords use Btc as a way of having illegal transactions that can't be located by the government.due to this, many government sees Btc illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money.
The government warns that people do not trade or buy bitcoin, because there is no regulatory body that supervises bitcoin, so it is vulnerable to pose risks to the community. Bitcoin is near the possibility of being a money laundering instrument, therefore we warn the public not to trade, buy sell 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
Maybe because many people used bitcoin in illegal transactions that is why they think its illegal. Well if that is their opinions and thoughts about bitcoin , we cant blame them. But we believed that bitcoin is very helpful to us.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 if I judge, Bitcoin is a source of life for those who understand the use of Bitcoin, because the impact can help people in trouble.
In our country lots of bad news hearing about the controversy made by scammers who wants to earned using the namevof bitcoins, thats why the image of bitcoin was so affected because lots of rumors negatively was thrown that is why our government declaring that this is illegal..
Because the government does not like bitcoin and the government cannot control bitcoin which cannot be regulated. So the government is like that.
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
Maybe because the government is afraid that their currency will be displaced by bitcoin and make their money weaken. Yes, even though their currencies still survive, their exchange rates are not strong. maybe that is what makes the government ban bitcoin.
The government tries to prohibit everything that is not within its reach or under its control, as is obvious. They say that Bitcoin is illegal because it is decentralized and above all anonymous, they are afraid because of what I said before, they can not control it.
The governments dont want you to use bitcoin as they cant controll it... for example if you have a bank account they can freeze it and stop you from recieving and sending money with bitcoin you cant do this as bitcoin is decentralized and nobody has controll over it. This gives people unlimited possibilities to launder money and do other things which are illegal BUT on the other hand is gives you the maximum controll of your wealth and this is not something the governments want for you...
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 your government does not control the illegal activities that happen with Bitcoin so they have to declare it illegal so the situation does not continue to escalate. Money laundering or human trafficking with Bitcoin has been recently detected. Bitcoin only performs well in trading and personal information security. The problem is that people use it. 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
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