Topic: Why government announce bitcoin is illegal? - page 28. (Read 6074 times)
The legality of bitcoin depends on the country, some countries are very open minded and welcome change in payment system recognizing bitcoin as legit digital currency while other countries banned it and declared it illegal. They have their own reason why they banned it perhaps they didn't believe in it and it just another scam.
This is news is partially correct. Every govt is not.Europian and American govt. makes it legal and acceptable.There are many reason for making it illegal. Many people Use bitcoin in illegal transaction.But after all pf that, i believe that, bitcoin is very usefull.
In the beginning cryptocurrency will be ignored by most people who consider changing online transaction systems. Let's look at the development of the internet at the beginning, most people think the internet is something that will be used as a negative tool, before the internet they searched for a source of information from a book, so many thought 'the book is the window of knowledge' but after the internet was present everyone uses the internet more to find easier sources of information. So, for now we can see the existence of cryptocurrency like the internet at the beginning was used, they ignore and regard it as a negative place but today everyone relies heavily on the internet. I have the opinion that cryptocurrency will be needed by many people in the future.
countries which states that bitcoin is illegal is a country that has laws that require its citizen to use domestic money in the economy, so that in addition to the country's domestic currency will be said to be illegal
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 is ok that government make it illegal, but it wouldn't stop bitcoin user to hold it and use it. Maybe bitcoin as payment will get problem, but as payment bitcoin already have main problem in transaction fees and confirmation time. 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
something that makes the government and each country rather desperate for those who are governed. Therefore their concerns and efforts to ban bitcoin in any way. 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
most likely because the government does not receive taxes from the digital world of bitcoin bro. because all businesses or businesses must have an entry permit and tax every year. therefore the government still has not received bitcoin legally
because there is no regulation about bitcoin .. most people abuse for crime and illegal donations ..
while the government does not block bitcoin is very profitable for us.
while the government does not block bitcoin is very profitable for us.
This is not a general information to be worldwide announcement yet, and it's only specific for those countries who prevent or didn't want to adopt bitcoin. Their very strong reason was due to decentralize body of bitcoin which cannot be controlled by the government system which they're afraid of.
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
Some Governments officials think and claim corruptions and criminal activities could increase with Bitcoin use and that is a major issue many countries face at the moment and even these criminal activities using Bitcoin are not done in large scale by criminals up to certain level Bitcoin is used to support such criminal activities
I don't know much about government reasons even though I also agree that bitcoin will facilitate various transactions but unfortunately bitcoin is known as the currency of criminals
This is news is partially correct. Every govt is not.Europian and American govt. makes it legal and acceptable.There are many reason for making it illegal. Many people Use bitcoin in illegal transaction.But after all pf that, i believe that, bitcoin is very usefull.
To tell the truth, This is not any centralised coin or currency systems.Govt doing it because they, can not control it. So they are fearing its controll on countries economy. This is not true that every govt making it illegal. Very few like asian country making it illegal.America, Europe it is still valid.
Bitcoin transactions are anonymous and can't be traced to a particular entity and hence government can't make people responsible for their actions in case they use bitcoins to facilitate any illegal trades like drugs or financial terrorism ,as a result government banned it for this reason.
all government and all economny institution is afraid because of bitcoin, we can see that bitcoin is not trackable and i think it is the main reason why government banned bitcoin, government and bank can't trace about the circulation of bitcoin in a country, they banned it because afraid if inflation happen in their country
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
Because, the government considers:
- Bitcoin has no formal foundation.
- There is no authority governing bitcoin.
- Bitcoin is often misused for illegal transactions, money laundering, and terrorism financing.
- Bitcoin cannot be reached by the Central Bank.
- Bitcoin can potentially cause value inflation, because the value of bitcoin is very speculative, which in the end, will only harm the public later.
- Bitcoin can disrupt the stability of the country's financial system.
Not all government but some of them i think one of the reason why they declared as illegal because they can't manipulate or they don't have any control of value we know if we said government we always thinking corruption and i think this is one they can use for i their own but also here in my country before when the bitcoin was illegal the main reason was those scammers especially when the value was rise up to $20,000 so that is why.
Because the government made it illegal. And because of the decentralized nature of Bitcoin, governments fear that their fiat currencies, trade and taxation are at threat (for those with an obtuse outlook) and hence they try to declare any trade (on or off) from the existing fiat currency onto/off-to Bitcoin as illegal.
because bitcoin is created by individuals and not through government approval. and also, bitcoin is prone to be used for illegal transactions because of its anonymous nature.
Every government has their own perception towards bitcoin/cryptocurrencies and maybe they think that when the embrace the technology it might just cost them their economic growth. There are so many reasons why these governments are banning bitcoin/cryptocurrencies where in fact, some other countries already admitted that their economy has improved when they adapt the blockchain technology.
I think one of the reason is the difficulty of government to trace audit transactions and perform their obligations. Govt has no way to get tax from it and that’s why they don’t want bitcoin to be banned.
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