Why government announce bitcoin is illegal? - page 37.

pixie85

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Quote from: LyQaN on September 01, 2018, 03:01:22 PM

Many countries are announcing Bitcoin illegal because it is not under the control of any government.Government cannot control Bitcoin transactions.So in order to stop or we can say to prevent the misuse of Bitcoin they ban them because people find it as a way to perform illegal dealings.

You're right. All the governments want is control and Bitcoin cannot be controlled. It allows people to be financially independent and be immune to panic. When people start running to the banks or there's war and people have to get away, bitcoiners will be all packed up and ready.
The only defense of the governments is to make it illegal, but should we be scared? We can always move somewhere else and take our coins with us.

Captain_Planet

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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

And what is your country? which government you are talking about, will you care to let us know that.

xbossJ

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Invest and play

Who is "Government"? If it isn't criminal politicians, looking to hang on to control and impoverish the common man. A technology is defeating their criminality and they are shouting " illegal" quite funny. Government is only being adamantly naive not ready to move with the times! Crimes do occur in fiat money and I'm sure 90% of crimes till date aren't independent of fiat money! If you are going to accuse bitcoin/ digital currencies of crime inclinations, consider the total size of the crypto economy! Let's work out the percentage of crypto related crime from the total world financial economy. Before they shout "Use of Bitcoin is illegal". Not everyone is tech savvy enough to understand how to use bitcoin., but the case is different for fiat money.

malilale

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In fact, the whole world has not been declared illegal. Some countries are very moderate. Focusing on the blockchain,
they want to have great promise in this market.

LyQaN

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Many countries are announcing Bitcoin illegal because it is not under the control of any government.Government cannot control Bitcoin transactions.So in order to stop or we can say to prevent the misuse of Bitcoin they ban them because people find it as a way to perform illegal dealings.

invincible49

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Remember who u are, what u are & who you represent

Quote from: Kotone on August 31, 2018, 01:19:19 PM

the government have a point to make it illegal inside their country. we know that the bitcoin is decentralize. no one can manipulate it and control it. also it is untraceable, so it means it is perfect to those who have an crime activities . as i research more people used this in crime activities so that the government does not allowef it.

Crime existed long before the modern civilization introduced fiat currency. I'm not being a John Wick fanatic on here but it is no secret that criminal organizations use their own payment methods since forever! I find it funny that every time someone says why Bitcoin is not welcomed by some countries and then some other people come forward with only one laughable reason like you brought in. Yes, Bitcoin may well be used by the terrorist groups but so is fiat money and gold, oil too.

oceantiger

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bitcoin is decentralized and can not be control by any one except the market sentiments only. The government want to control bitcoin so that they can collect taxes on every transactions on bitcoins. When they can not succeed in their effort to centralized bitcoin it then becomes a tool for evil.

1van__

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they can not do it, it's like banning money, bitcoin is very valuable for people, it's the best on the crypto market

Kotone

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Quote from: invincible49 on August 31, 2018, 01:11:46 PM

Not all the governments have banned Bitcoin. As we know Bitcoin is not backed by anything and people control its blockchain while it is also not a security. So for any government, it is very difficult to accept a new payment method which is not backed by any gold or commodity and this situation has a major impact on those countries monetary system. You will see underdeveloped countries with so much debt are afraid to legalize bitcoin because if they do it then it will upset the supranational organization!

the government have a point to make it illegal inside their country. we know that the bitcoin is decentralize. no one can manipulate it and control it. also it is untraceable, so it means it is perfect to those who have an crime activities . as i research more people used this in crime activities so that the government does not allowef it.

invincible49

sr. member

Activity: 565

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Remember who u are, what u are & who you represent

Not all the governments have banned Bitcoin. As we know Bitcoin is not backed by anything and people control its blockchain while it is also not a security. So for any government, it is very difficult to accept a new payment method which is not backed by any gold or commodity and this situation has a major impact on those countries monetary system. You will see underdeveloped countries with so much debt are afraid to legalize bitcoin because if they do it then it will upset the supranational organization!

sormin

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Not all countries prohibit the use of bitcoin. Usually there are several countries where people ban due to several factors. Both internally and internally for the country. But what I often find is that bitcoin is often associated with illegal transactions for the purchase of prohibited goods. Therefore, some countries do not want to take the risk and prohibit it.

stiffbud

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Quote from: adpinbr on August 31, 2018, 09:34:40 AM

I think it is because some drug lords use bitcoin as a way of having illegal transactions that can't be located by the government.due to this, many government sees bitcoin illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money.

No government never want something in their country in which have no control in it. Many government declare it ban in their country because of bitcoin decentralised nature. Decentralised means no government can control on its production and distribution. And Because of its untraceable money transaction facility many anti social people use it for their criminal activities. And in some country this the reason behind its ban

ompoetra

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The reason why bitcoin is increasingly flooded is because it is considered to have more benefits than conventional transactions. Bitcoin exchange rates from year to year continue to rise. In fact, at present, one bitcoin is equivalent to Rp 200 million.
At first glance, bitcoin is a promising investment land. Finally, many people flocked to buy bitcoin to be sold again when the price was soaring.
Because it does not have a central server and no regulation is regulated, bitcoin transactions can be done as you wish. Of course as long as you have a bitcoin virtual account or wallet. There is no tax that will be charged to us, such as when transactions are through certain financial institutions.
In addition, bitcoin is predicted to have super safe and strict technology. All transactions are transparent and spread to millions of servers. So that it is almost impossible to counterfeit the bitcoin database.

Babatunde1989

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Bitcoins are not authorized as medium of payment by RBI. Further the government feels that bitcoins those of virtual currencies may encourage illegal transactions. As there is no rule to regulate them RBI has warned that individuals do it of their own risk. Government may announce officially the Bitcoin payment as illegal.

jamota

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Because they are afraid that the FIAT currency will no longer apply to society and will be replaced by something new, bitcoin. If that happens then the country's currency can become worthless and unused. To avoid this, the government illegally bitcoin. And not only that, bitcoin is often used for misuse of transactions and payments.

Epimetheus

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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

Different government have different agenda with bitcoin. Some of them have good relationships with bitcoin and some of them have a bad relationship with bitcoin. The main reason behind government declare bitcoin is illegal is its decentralised nature which directly affect their country economy by affecting their country own currency at international market. Another thing is its volatility which affect an country share market value which ultimately affects the country economy.

demenBTC

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PRIVATE FEDERATED BLOCKCHAIN

bitcoin will continue to move even though there are still many countries that still declare illegal, I'm sure someday bitcoin will be accepted in all countries on the grounds that bitcoin is a technological advance in the future

Bgbolahan

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You can't expect them to approved something they can't control

adpinbr

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And what specific country is he/she stating about? I think that these governments has their own unique reasons on why they are banning Bitcoin on their homelands, one of the plausible reasons is that they do not have control and therefore cannot be taxed.

Diruy raya

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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

Menurut pendapat saya tentang mengapa pemerintah mengumumkan bitcoin ilegal karena bitcoin bukan mata uang yang sah di negara kita dan pula kalau Bitcoin dilegalkan secara mendadak atau sepihak tanpa persetujuan dari pada para legislatif,maka atas dasar inilah pemerintah mengilegalkan bitcoin.

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