Bitcoin Forum

Some says, Bitcoin is legal and few says it's not. May I know the reason why it is not legal to use Bitcoin in some countries, for example, in my country, we are not allowed to use Bitcoin to purchase any items or goods. Why they can't legalize it? What was the reason behind it?

You need to have rules and regulations to use something as a currency and if your country does not allow it,there is nothing you could do and from what i understand only a few countries ban bitcoin and it is simply because of ignorance and nothing else,it is a new technology and down the line in coming years they might legalize it.

The reason is simple = government & power. They want to control how things are dictated and controlled as well as consumed.

So when something revolutionary comes up that they simply cannot stop by any means it will frustrate governments. Some will learn to accept and embrace the future (Switzerland, Japan, Singapore), others will be neutral, while others will out right hate the innovation.

It seems as though the brighter and wealthier nations are embracing the change with open arms which is very encouraging. It is only a matter of time before all the walls are gone and bitcoin will be known as a global currency. One day soon

It is very easy for governments to control crypto, as we are seeing this past week.

BTC-e with servers in Russia - shut down by FBI. Poloniex - shut down by FBI.

All they need to do is take down the exchanges and cryptocurrency cannot survive. The masses simply will not and cannot accept something that is hard to get started with. Bitcoin is hard enough to explain as it is. What happens when the exchanges are blocked/shut down by the government and they want to know how they can buy some? Yeah... they won't.

Ill concede that government does have some power and I think right now they are desperately trying hail marys do stop what is inevitable in my eyes. And it does make sense for them, either regulate the flow of money or become a slave to it how individuals are to countries now.

It is kind of like how torrents website are seized by the government but then new ones always pop up. They will never die. Same thing there. Exchanges will open up in safer regulated countries and the world will proceed forward. Thats how I see it anyhow

Each country has a different system of government. The country where I live is the same, not all of them know bitcoin. Few people know this. The ones doing bitcoin trades are just individuals. It may take a long time to legalize bitcoin in my country, or it may never happen.

Bitcoin as its nature can't be regulated. So, it has a serious disadvantage to the government, it evades custom and tax.
Bitcoin is also said to be illegal in my country. But with the lack of any rules regarding the use of bitcoin. We can see many hotels and shops hanging Bitcoin accepted here signs.

Because other countries think that bitcoin is a trash and has no sense that can help our country to increase and to grow in terms of their financial prospects,But many countries are legalizing bitcoins.And this can be disadvantage to our government they say because cash and their own currency will decrease.

 Some countries only allow their issued money to be used as legal tender. There is always the underground though. Just be careful.

https://www.thebalance.com/iceland-time-to-free-bitcoin-4030896

This is a pretty interesting read in this context, on how some countries deal with bitcoin and why embracing bitcoin might be a much better approach financially.

I'm not quite sure why, but I think it all depends on the establishments or maybe the government if they will allow transactions through crypto currencies. In my country, only few establishment honor BTC as payment. Maybe government also has something to do with it. Maybe your government doesn't want to honor it because they don't have full control over it.

Bitcoin is an example about the free financial for us. Bitcoin doesn't need the regulate. Bitcoin can stand with its legs. Your opinion doesn't make sense. But i have a question for you. and so, are you want bitcoin to get a tax by the government? or you must verify your self before using the bitcoin? Does it look good for you to happen in the future?

Why some countries do not legalize bitcoin is actually a pretty difficult question, to be answered because even though the country does not legalize bitcoin but bitcoin users a lot in that country. This is real same as my country does not legalize bitcoin but its bitcoin users a lot. Actually why it is not legalized I'm sure bitcoin can promote the economy though not thorough, the government many say bitcoin is not a legitimate payment because there are still many weaknesses in bitcoin.

I think the reason why it is unregulated is that no one can ever take control of regulating it. Bitcoin is all over the internet, because of its popularity, regulating it only means regulating the internet. Another reason is maybe bitcoin is not that popular in their place or they have no pure idea about these things.  Maybe others have the ability to control and regulate the flow of bitcoins because they have strict policy on their internet usage in their country. But they can't be sure if they have the full control of it in their place

But if Bitcoin not legal in most country on the world, BTC-e is a issue for example this future. Remember Bitmixer has confirm in current Bitcoin not anonymous as our think and the time government control Bitcoin will be soon because for the future of Bitcoin popular than with many people on the world's.

apart from 1 or 2 countries which clearly said bitcoin is illegal (one that i remember is Bangladesh) the rest have nothing against it. bitcoin is legal there.
what it is not is bitcoin is not regulated. it is a little different. the coin.dance website actually has some good information on this topic in their politics section that you can look at.
and the reason is usually because they are either not sure yet or the adoption is nowhere near big to start talking about regulating it.

Bitcoin is usually not illegal but not regulated in many countries that does not mean it is illegal, it needs more time to be adopted by the government.

Bitcoin is not regulated in any country. So Its not legal ol illegal. Its a crypto Currency. If you are talking about why Federal Banks not use Bitcoin the answer is they are going to use :) (Do you Remember FED Yellen Photo ?)

Maybe it's just because their government is not allowing it in their country. I'm not quite sure about this because here in our country some business accepts bitcoin transactions and I don't even know if our government even has some rule about cryptocurrency and if they are even concerned with it.

Bitcoin has no legal obligations. Since this operates online. We cannot find any Bitcoin building or office,no definite company or heads. At the same time no legal ties or the government has no profit from it.

happen on my country once, government though this was illegal things and used to scam people , but right now they start to trust bitcoin and on some location especially bali , we already got bitcoin atm machine which is nice and also legal to purchase through bitcoin right since many people already know bitcoin as online payment

Every country have different system of currency. Some country take easy about BTC and some country have not. That's it!

I have also heard that in many countries, Bitcoin is illegal.The government of those countries thinks that because of the Bitcoin digital currency, the country's economy will have a very harmful effect.

Countries support is very vital in the development and the wide spread of Bitcoin because if a specific country will not support Bitcoin and it is not open on accepting it as a currecny it may be a failed on having regulated on  transaction. So the best thing to consider is to continue to support it as it to have development for other countries to see the future out of Bitcoin and in the future they will going to be open on accepting Bitcoin.

I don't understand statements like this.  Why choose Bitcoin and at the same time recommend governments regulate it; if that's what you want just go the fiat route.  As for me, I want governments as far away from crypto as possible.  Yes that means some exchanges will scam customers, yes that means some ICO's will be scams, but I trust the power of the internet and crowds to eventually weed these out.  Also... NONE of these scams have come close to the largest of all, the 'printing' of trillions of dollars from the federal reserve.

When and where did poloniex shut down. I can still open this in the UK.

I think it’s because, in other country bitcoin is not legal and if the bitcoin become legal there’s a possibility that government will control it and about purchasing, they need to add tax or they can get tax from us like others who have a job with tax. If the government get involve in bitcoin, it’s decentralization will be abolish and can make bitcoin not secured unlike today.

counties like USA & RU afraid to accept bitcoin officially because bitcoin system can not adapt\follow any system to put sanction on persons \countries .

That's why we have to speak out when governments try to regulate/control crypto.  And... we need to not run directly to the government when things go wrong.  We can't have it both ways... we can't say we want a deregulated crypto but at the same time ask governments to step in when someone scams us of money.  As I said before, I want governments as far away from my crypto as possible.

You are very correct they do not want to jeopardise a system that allows them to impose sanctions on others, they will keep the fiat system running.

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Other countries like Egypt have chosen not to to deal with it as its simply a virtual currency which isnt regarded as official money. Am sure if most superpower countries welcome bitcoin it will spread like a wild fire
https://www.cryptocoinsnews.com/egyptian-central-bank-shoots-down-bitcoin-adoption-rumor/

The reason behind it is that countries want to take control of inflation and interest rates. Everything on the economy are related to political issues and the existence of that country.

Yes its coming with the popularity among the people in the country regarding online investment or trading. With the limitations of the resources, how it could be popularize.  

Each country has the right to establish rules for the use of crypto currency or to prohibit its use altogether. No country can interfere with this issue, since it is considered an internal matter of each state. Not all states have positively adopted the crypto currency, because it is not subject to control by the authorities. However, most industrialized countries have already recognized the legitimacy of the circulation of crypto-currencies within their country, introducing certain mechanisms for their regulation. This is the USA, Russia, China, Japan, Australia, etc. For other countries, it may take some time before they understand the essence of the digital currency and the inevitability of its spreading around the world.

of course very many countries that have not been able to receive bitcoin as a means of payment, because it is not legal, and the state can not legalize bitcoin, in because insight about bitcoin in society is still very low, of course bitcoin will be very difficult to understand by society

Ofcourse every people lives in different countries and this countries differs in the way they run their goverment. I mean yes other countries may accept bitcoin but there will be countries that will not accept it, worst will not acknowledge it. It's because maybe they can't still see what benefits it can do for a person or his/her family.

Each country has different regulation and application to bitcoin and altcoin. they have their respective opinions when a currency is applied legally in the country. most of them are frightened by the extremely volatile fluctuations in bitcoin and altcoin prices. This is indeed a rational reason because of course the government does not want to make their country destroyed. our current task is to continue using bitcoin and altcoin because it can make the digital currency more stable. hopefully in the future digital currency can be one currency that is recognized by many countries in the world.

  Because the bitcoin is still legal.
  Why ? Because not everyone in every country knows what bitcoin is.
  a small number of people who know and know how to use it. One example is my own country is still legal.
   Maybe that's the reason why bitcoin is legal.

I do not really know about the ban,
But it is the state's authority to take action, all of which there must be a clear reason.

Yes bitcoin is a virtual currency whose nature changes fox, is unstable, it is the underlying bitcoin is not guaranteed state or the state does not participate to bitcoin. That's what I know. And possibly wrong.

which I know every country has a different policy different.
That underlying bitcoin is not always acceptable for some countries.
I can not explain what caused it. because it is the authority of a country to ban or close the askes for bitcoin.

Countries that allow no financial autonomy won't allow crypto. Even in liberal western democracies, there has been a recent push to the right. Certain member countries in the EU and the US are looking more and more hostile to financial privacy, even though it is a right.

Each country has it own currency and in some country that have an economy unstable, they don’t allow bitcoin trades, bitcoin can influence to their currency

Crypto-currency has become more and more active in recent years and enters our life, bringing to it diversity and considerable relief in financial settlements. This is a completely new digital technology that is not clear to all governments. Therefore, some of them are cautious and distrustful. This is the right of every state and its government. No one has the right to interfere in the internal affairs of the state, including the circulation of currencies inside it and the regulation of financial payments. Therefore, it is the right of every state to recognize or not recognize the crypto currency in its territory. At the same time, due to the peculiarities of the crypto currency, such as anonymity, governments are not in a position to control it. This is also one of the important reasons why governments are wary of the digital currency. More confidently refer to it in industrially developed countries, where they are not afraid to introduce advanced technologies. Indicative in this regard is the government of Japan, where they recognized the Crypto currency, introduced a minimum tax on income from it for citizens and quickly develops a network for providing services with calculations in the crypto currency. For some other states it will take some time before they understand the benefits in recognizing the crypto currency and the inevitability of its wide distribution around the world.

Crypto currency will rule the world! :) (Do you actually know, why it is called like that? ???)

Hey, I'm searching for an Ethereum iOS wallet, which can create multiple addresses. Do you know one, that supports this?  ;)

I think it is because other countries that don't want to legalize it is because the government can't control it like they want it to be. Bitcoin is decentralized so no one can manipulate it. Or maybe they have rules that is contrast with the cryptocurrency.