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Author Topic: Why bitcoins illegal ????  (Read 13533 times)
innocentbee
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September 08, 2016, 04:58:15 AM
 #1

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/
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September 08, 2016, 05:01:21 AM
 #2

Because governments don't like it. They don't like it because they can't control the money flow when people use bitcoins. They can control banks, airports, your house... But nobody will notice if a tiny usb stick holds thousands of bitcoins.
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September 08, 2016, 06:05:59 AM
 #3

because of it no control of government country and not taxation pay to government .
so usually they ban it . also there is privacy through which no one can find how much the user saved btc at his wallet .


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tubexc
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September 08, 2016, 06:22:05 AM
 #4

For the same reason online poker is
still ilegal in many countries!
Not open minded people  Grin
airezx20
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September 08, 2016, 08:26:57 AM
 #5

Yes in some countries bitcoin is illegal and in some countries there is no specific law made for the regulation of bitcoin.
Those government made bitcoin illegal in their country because they are not able to control this bitcoin currency as bitcoin is decentralised and they cannot track how much bitcoin a person is holding in his/her wallet.
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September 08, 2016, 08:53:48 AM
 #6

What do you mean by it is illegal?  I am from a third world country but we uses bitcoin.  I do not know if it is legal or illegal all I know is that the bitcoin wallet in our country allows deposit through banks and 711 stores and some cash remittances.  They even ask every person to validate their accounts through Id verification and phone verification.  They deactivated accounts which engage into gambling as they say that it is not registered into some government organization or something like that. 
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September 08, 2016, 12:18:53 PM
 #7

If a government can't control and tax it to make a profit for themselves they don't wan't it.  Greed drives Governments.
BingoDog
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September 08, 2016, 01:31:23 PM
 #8

Can someone here name those countries where Bitcoin is illegal? I would like to know that. I know that Bitcoin is not very well accepted in some countries by governement but I don't know in which countries is actually banned by law.

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September 08, 2016, 03:05:29 PM
 #9

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/

I don't think that Bitcoin is illegal in many countries in the world.
In fact, Bitcoin is still not regulated by the law in many countries in the world.
Governments really adapt very slowly to the new reality and Bitcoin is already here, reality and new future of the money.
Don't worry, nobody can stop progress and Bitcoin will be fully accepted everywhere, soon or later.

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September 08, 2016, 03:39:04 PM
 #10

Bitcoin is legal because it's not a big deal yet, it's not impacting or imposing upon local fiat currencies, and (most importantly) it has legitimate value in the world!

In the end, the government can't control what I offer you for services you offer me - it's called trading/bartering. Of course it would take more creativity to make the exchange happen, but it could still happen.

Here's a resource on the legality of bitcoin by country: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

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September 13, 2016, 04:35:07 PM
 #11

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/

governments want to control people so they want to control ongoing cash flow. For that reason, goverments dont want to legitimize bitcoin usage in trades. Bitcoin flow cant be controled offically at this moment but something will be different in the future ..who knows..

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September 13, 2016, 04:50:04 PM
 #12

Cause they don't like it,the freedom it gives you,the endless possibilities.
That's to say I really don't find it is reasonable for the people because they deserve to use BTC and have the freedom to choose their currency.
Hope more people realize this

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September 13, 2016, 04:51:31 PM
 #13

well that's because they can't get anything from it. bitcoin can't be taxed or is not being taxed yet. well it really depends on which country you're in I don't think there are a lot of countries that bans bitcoin

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September 13, 2016, 04:57:48 PM
 #14

I think bitcoin is not illegal in other country almost all are accepting bitcoin to use..
Because its just a alternative money online that you can use to pay or to buy service online.. also in gambling but its not the case..

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September 13, 2016, 05:04:50 PM
 #15

Bitcoin is illegal?


Those law makers are changing their minds so much that they might be really light headed. Maybe they could do the same with drugs, ban then unban ban then unban.

What are they doing?

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September 13, 2016, 05:05:49 PM
 #16

Its illegal, but it can be legal if they really wanted it to be...

Like pass the damn ETF and it can be considered as a security in the traditional stock market... like its been forever..
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September 13, 2016, 10:21:51 PM
 #17

Bitcoin is still young currency and many goverments still don't know much about it. They are thinking that bitcoin can be used for illegal activities or avoid pay taxes. And also goverments are in side of banks, legalization of bitcoin can affect banks negative and goverments no need it.

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September 13, 2016, 11:26:14 PM
 #18

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/
Illegal in many countries? It's a minority. Bitcoin is legal in most countries of the world. You need to go to some countries in the former USSR for bitcoin to be illegal.
Governments are cautious about it in the western world, but it's not illegal. The usual arguments are terrorist, crime, money laundering.

Before all the "get rich quick" guys came to the bitcoin space, it was a very political movement.
You need to go back in time to when bitcoin was first created.

June 2011:
I have become fascinated with Bitcoin since first reading about it a few weeks ago.  It seems to me that a successful, thriving bitcoin currency is very threatening to governments, because it reduces their power to trace transactions, confiscate money, and pay their bills in inflated currency.  Bitcoin takes power from government and puts it firmly back into the hands of the people.  It has a small, but real, chance of becoming one of the most liberating inventions since the Internet itself, and will therefore be detested by governments around the world.  If it is to survive, every effort must be taken to protect it from their attacks.

That was the general view. I'm skeptical if it does reduce a governments power:


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September 13, 2016, 11:30:54 PM
 #19

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/

in my country bitcoin is not illlegal system, it's depending about for what you use bitcoin, if you using bitcoin for illegal activity you will be a fugitive, bitcoin is like normal currency
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September 14, 2016, 12:00:51 AM
 #20

why bitcoin is still illegal in many countries of world Huh Is there any solid reason behind this ??/
i think bitcoin is not illegal . but some persons are using bitcoin for illegal purpose so to get control over the floq of illegal activities some of the countries have banned the use of bitcoin in there countries . overall bitcoin is safe and pure legal .

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