Topic: Why government announce bitcoin is illegal? - page 9. (Read 6074 times)
I think government find themselves unable to control Bitcoin effectively like fiat money. They're afraid that Bitcoin can result in high financial risks if they can not control Bitcoin. You know, finance has big impact on economy and everything related to finance has to be strictly managed.
Bitcoin can facilitate people to buy and sell illegal things. Drugs, weapon, even prostitution can be trade in Bitcoin. These actually happen when Bitcoin isn't allowed. So if Bitcoin is allowed officially in countries that have high rate of crimes and unstable politics, crimes will be easier to perform those activities, even money laundering.
Governments have many choices other than Bitcoin - a volatile digital asset. They don't like Bitcoin because they don't inderstand about Bitcoin fully. But as far as I can see, not all nations outlaw Bitcoin. A few still allow it.
Bitcoin is involved in illegal activities and governments can't find a solution for it. Bitcoin may cause financial crimes because now law and policies for Bitcoin hasn't been completed.
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
You did not research well before you ask for opinion about the world legality status of Bitcoin in which you generalize that all countries are declared Bitcoin is illegal. You never know that USA, JAPAN and GERMANY are the most known countries that legalize it and used it in spending. Some government don't support it because they afraid of might use it in crime but they are very few compared to the supporting countries.
I am not sure that the announcement was made in all countries about bitcoin been illegal. The issue I think governments have against bitcoin is more about regulatory issues and the fact the some people are using it to carry out illegal activities and it's can't be traced back to anyone
In my opinion, Bitcoin or Cryptocurrencies are private type of currencies. Government also consider that no one can control them. So government announce bitcoin is illegal but hopefully they will also consider their applications and benefits and think upon their decision.
This is a very good prey and brings them many benefits but unfortunately, they do not control the whole process of bitcoin, and that's really their problem right now. Especially as you say, bitcoin also becomes a tool for others to become criminals, tax evasion and money laundering, too many problems, they can not solve.
most countries say that a Bitcoin is illegal because it does not cover any government control. the Government can not control Bitcoin transactions because it has its own regulation .So to stop or we can say that to avoid a Bitcoin delusion, should not believe in what others say, we should believe we are all intent on attracting a bitcoin because people will really find that way as a way to decide whether it is illegal to deal with it.
I think it's not everywhere, only single countries like for instance Bolivia and Ecuador, and some others. I guess they fear that they cannot control whether somebody did pay enough taxes, as an example.
Most likely, they are thus insuring themselves against the unknown consequences of taking Bitcoin as a payment facility.
Bitcoin is a future asset goods that can be used as a means of payment, not all countries consider Bitcoin is illegal, there are some who even acknowledge the existence of the country bitcoin. perhaps because the prices were so fluctuations Bitcoin, so some countries fear to legalize Bitcoin
Not all country are against to bitcoin or announce it's illegal. Because they have other country who are supporting bitcoin.
Bitcoin yes is use to illegal transaction and scamming but it's not bitcoin they use only bitcoin and bitcoin is legit. I hope before they release some news or anything against bitcoin they need to know the other side.
Some countries state that bitcoin is illegal to use in their country. But for investment, who can ban? Because everything happens on the internet that cannot be controlled by the government. So let countries that have legalized bitcoin to show all countries in the world the advantages of bitcoin as a digital currency. Don't just see the bad side of bitcoin, because in life there is always a good side and a bad side. Bitcoin yes is use to illegal transaction and scamming but it's not bitcoin they use only bitcoin and bitcoin is legit. I hope before they release some news or anything against bitcoin they need to know the other side.
I think bitcoin really helps a country as a payment that can replace the function of money, indeed most countries in the world say bitcoin is illegal and only a few are bitcoin, whereas in my opinion bitcoin provides many benefits and convenience for bitcoin users
Because of its decentralized capabilities, Bitcoin is a boon for online transactions. However, the government does not like it because it makes it impossible for them to manage the transactions. In addition, the transaction can completely switch to Bitcoin transactions, only a small fee, not tax as much as the traditional transaction.
Also, Bitcoin hides the criminals so the government also does not like this.
Also, Bitcoin hides the criminals so the government also does not like this.
From my point of view, because government doesn't receive any benefit from bitcoin and they also can not control it
Probably because there is no guarantee for the Bitcoin virtual currency, the Bitcoin value is speculative, the user is at risk of loss when the Bitcoin price suddenly changes.
Due to the decentralized nature of BTC of which fiat currency is an exception, they want to boy court it. It has a greater future and some of the reason they are rejecting it is that, they won't get anything from it when BTC is accepted to be legal and that's why they are fighting against it in some countries.
I think that Bitcoin and other kinds of cryptocurrency destabilize the current currency of the government. I think it will be a ticking bomb to the government if the cryptocurrency continue to exist.
I think the reason why other countries government illegalizing bitcoin because they are afraid to the bitcoin or cryptocurrencies power. Since government's are founded by one main power as a centralized they are probably scared that the new form of decentralizing the economic development are through the blockchain technology. So maybe government didn't like this kind of revolutionary movements of mankind that's why they control the virtual world by not allowing this modernization in our new generation.
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