Why government announce bitcoin is illegal? - page 32.

daviddaniels

newbie

Activity: 29

Merit: 0

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

Bitcoin has been involved in terrorist funding. So, they did the right thing

Hydroid

newbie

Activity: 29

Merit: 0

The main reason behind government not legalizing Bitcoin is because they are afraid of the decentralized feature of it. You can stay anonymous and no one will be able to locate you while you make transactions through Bitcoin. So, governments are concerned that criminals will take advantage of that.

basyang

full member

Activity: 644

Merit: 100

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

Indeed, but we can not blame them though. Government officials has a lot of knowledge in the economy of their country, they study well what could be a good source to support the economy of their country. However when it comes to bitcoin some Governments are not see that bitcoin can be a huge help to them, because it was a decentralized and they knew that they can not control it

nakarp

newbie

Activity: 28

Merit: 0

some country government dont know about bitcoin but some time after bitcoin world wide.

ridertiger

full member

Activity: 490

Merit: 110

Which government announced that it is illegal? Can you give us a link or something?

euronine897

newbie

Activity: 266

Merit: 0

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

Most countries do these kind of announcements against Bitcoin and most digital currencies due to lack of understanding about the cryptocurrency market or the crypto world so many think by allowing crypto assets to use in there local communities and with core financial transactions negative effects can be happen on there stabilized economy but still they cannot stop there people investing in Bitcoin and that is why they use media to make false accusations

IamKnowledge

newbie

Activity: 98

Merit: 0

The reason is simple. Governments of several States have tagged bitcoin as "illegal" because they cannot obtain any internal revenue from its operations.

willybacem

newbie

Activity: 120

Merit: 0

Not all countries have legalized Bitcoin. We know the major countries in Asia there are some already provide rules on the use of Cryptocurrency. They see that the potential of this very large Bitcoin human life. Many people in the world because they know that Crypto here could produce a lot of money.

admosfir

full member

Activity: 280

Merit: 100

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

SIDDHI777

jr. member

Activity: 196

Merit: 1

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

There is a major reason for government to announce Bitcoin is illegal that is because it is not under any government authority or influence and it is known as an asst not under control and no legitimate statue and that is the main reason such announcements are made by governments against Bitcoin and the cryptocurrency world to stop expanding further locally and internationally

calabrianexceeded

newbie

Activity: 111

Merit: 0

not all countries give illegal announcements, as we know, bitcoin cannot be controlled by monetary policy, and it is very dangerous if they apply it legally, the best thing that can be done is to regard it as a commodity asset, they need to keep learning and make strong policies for each local crypto exchanger.

Indai24

member

Activity: 448

Merit: 10

Quote from: Finnong on September 03, 2018, 02:04:54 AM

The reason behind this annoucement that bitcoin is illegal is because the government cannot contro or manipulate bitcoin the way they control the economy or system of their country. Though not all countries considers bitcoin as illegal many are accepting it also, if you had been reading in our forums, you know about this.

It's not that bitcoin is illegal, in our country bitcoin is not declared as legal nor illegal, government don't recognized it's existence. However there are still merchants who accept bitcoin as mode of payment. Government did not announce its legallity yet because they cannoy manipulate bitcoin and that they need to conduct their own research about it.

Finnong

newbie

Activity: 40

Merit: 0

The reason behind this annoucement that bitcoin is illegal is because the government cannot contro or manipulate bitcoin the way they control the economy or system of their country. Though not all countries considers bitcoin as illegal many are accepting it also, if you had been reading in our forums, you know about this.

Farma

legendary

Activity: 2492

Merit: 1001

Leading Crypto Sports Betting & Casino Platform

Quote from: Piggymonster on September 03, 2018, 01:51:35 AM

Not all government announces that bitcoin is illegal, some countries including the country where I live in, declare bitcoin as legit. In other countries also like Japan, they are showing great support for digital currency and made it as a legal tender.

yep, not all countries make bitcoin illegal, because they realize that they can take advantage of this. well, besides, I think most of the reasons for banning bitcoin are when it can add to the number of illegal transactions, and can be one of the money laundering tools.

Nunii

member

Activity: 322

Merit: 10

Most of the government do not explicitly says illegal. Well, some countries declared already. This maybe because, they are protecting their nation from any malicious ctivities that can harm their people. As we all know, there are a lot of scam activities out there which actually make a lot of people at a loss. They do not want to see more of that. Another thing is, they do not have yet a concrete ruling on thins thing, on this tech. They still do not have a clear guidelines on how they can get hold of it. Well they want ot protect thei nation and benefit from technology. Maybe, they cannot see the mutual benefit yet. But in time, we will see how and what will make their eyes open.

Piggymonster

member

Activity: 294

Merit: 34

Not all government announces that bitcoin is illegal, some countries including the country where I live in, declare bitcoin as legit. In other countries also like Japan, they are showing great support for digital currency and made it as a legal tender.

Innerpumper

member

Activity: 1021

Merit: 12

I think, they fear the bitcoin money laundering easier. Padalah bitcoin also many benefits apart from that.

PlusOne88

member

Activity: 420

Merit: 10

“Tackling Climate Change Using Blockchain”

Do not be confused with the idea of legality. If you are going to consider how bitcoin works, it is not of any harm to any people or government therefore is not a crime. But there are certain areas concerning the use of bitcoin which may affect the economy of a country. This is something maybe your government is trying to protect, which made them banned or announced it as illegal. Bitcoin can be used to move money from one area to another. And by doing these without regulation one can create or make an unstable economy. Do not be confused with the idea of legality. If you are going to consider how bitcoin works, it is not of any harm to any people or government therefore is not a crime. But there are certain areas concerning the use of bitcoin which may affect the economy of a country. This is something maybe your government is trying to protect, which made them banned or announced it as illegal. Bitcoin can be used to move money from one area to another. And by doing these without regulation one can create or make an unstable economy.

Gontxi

sr. member

Activity: 966

Merit: 250

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

You are wrong, I don't think all countries ban bitcoin or illegal. try to look for references first before you want to make a post to discuss. so you won't look stupid

Wong Gendheng

sr. member

Activity: 1428

Merit: 252

In my opinion this is normal, all countries certainly don't want to see that its citizens use bitcoin because they are worried that someday there will be a problem the government can't do anything, by making bitcoin legal it will create new problems for the government.

Topic: Why government announce bitcoin is illegal? - page 32. (Read 6074 times)