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Author Topic: Why bitcoins illegal ????  (Read 13513 times)
iamTom123
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December 08, 2016, 06:24:43 AM
 #141

Bitcoin can be illegal or sometimes not encourage in some countries because they see the digital coin as a threat as it is something they can not control partially or completely. Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.

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December 08, 2016, 09:59:26 AM
 #142

Bitcoin can be illegal or sometimes not encourage in some countries because they see the digital coin as a threat as it is something they can not control partially or completely. Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.
I agree. Taxes is the most important thing, but there is also the question of who and what provides value in cryptocurrency? What if tomorrow will no longer buy such as bitcoin? Where you will get to the rest of him?
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December 30, 2016, 06:39:56 PM
 #143

Only the legal business can add the popularity of bitcoin and the main thing that no accepted.
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December 30, 2016, 07:26:24 PM
 #144

Bitcoin can be illegal or sometimes not encourage in some countries because they see the digital coin as a threat as it is something they can not control partially or completely. Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.
I agree. Taxes is the most important thing, but there is also the question of who and what provides value in cryptocurrency? What if tomorrow will no longer buy such as bitcoin? Where you will get to the rest of him?

Yes, you are asking the right questions. But I believe that cryptocurrency no longer be able to depreciate the reason that the game has already invested a lot of money. Bitcoin now "ensure" these investments and expensive equipment for mining
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December 30, 2016, 07:57:14 PM
 #145

Bitcoin can be illegal or sometimes not encourage in some countries because they see the digital coin as a threat as it is something they can not control partially or completely. Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.
I agree. Taxes is the most important thing, but there is also the question of who and what provides value in cryptocurrency? What if tomorrow will no longer buy such as bitcoin? Where you will get to the rest of him?

Yes, you are asking the right questions. But I believe that cryptocurrency no longer be able to depreciate the reason that the game has already invested a lot of money. Bitcoin now "ensure" these investments and expensive equipment for mining
anonymous transactions, lack of control by any regulators, the absence of any security given algorithmically limited emission, inability to cancel the transaction, all of which can have an impact if you use bitcoin illegally.
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December 30, 2016, 08:16:04 PM
 #146

Bitcoin can be illegal or sometimes not encourage in some countries because they see the digital coin as a threat as it is something they can not control partially or completely. Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.
I agree. Taxes is the most important thing, but there is also the question of who and what provides value in cryptocurrency? What if tomorrow will no longer buy such as bitcoin? Where you will get to the rest of him?
For example using a means of payment without necessarily identifying the members of the operation, rredstva of crime translating into such transactions to make easier. Also on hand to criminals irreversibility of committed transactions and block any transaction, even if we know exactly what this purse belongs to the perpetrator.
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December 30, 2016, 09:04:50 PM
 #147

Only the legal business can add the popularity of bitcoin and the main thing that no accepted.
Despite all the possibilities for search and identification of persons using Bitcoin illegal schemes, these opportunities have yet to learn how to use. Technical competence and understanding of the cryptocurrency in law enforcement is not yet at a level that will effectively deal with the new risks.
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December 30, 2016, 10:40:34 PM
 #148

They mainly get banned because of the lack of controll by the government, also cannot be taxed.. so it's not that good in the governments eyes.


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December 31, 2016, 03:31:48 AM
 #149

Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.

Although Bitcoin transactions are hard to trace, once you convert your coins to fiat it becomes easier for the government to track you (that is, unless you are exchanging for physical cash). So honesty doesn't matter.

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December 31, 2016, 05:12:54 AM
 #150

No one said it was illegal. But no one has admitted it. At present, it is just a mathematical and financial theory conjecture experiment, if after the function and use it if changed, violated the national currency interest, there may be ruled illegal.



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December 31, 2016, 06:12:59 AM
 #151

It is banned in and deemed illegal in some countries because it is prone to tax evasion, money laundering and it can be used in illegal and illicit activities without being known. Aside from that it is also a threat to banking system and cannot be regulated and controlled by the government.

With these reasons some countries just banned bitcoins also as a means to cmake tax collection efficient and to close any possible gateway for illegal transactions to occur.

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December 31, 2016, 06:33:02 AM
 #152

No one said it was illegal. But no one has admitted it.

You are wrong. Some countries, such as Switzerland and Singapore have legalized Bitcoin, and have even introduced laws aimed at its regulation. On the other hand, only a few countries (such as Vietnam and Iceland) have banned it explicitly.

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January 01, 2017, 02:17:19 AM
 #153

Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.

Although Bitcoin transactions are hard to trace, once you convert your coins to fiat it becomes easier for the government to track you (that is, unless you are exchanging for physical cash). So honesty doesn't matter.
Since you made bitcoin transactions, I don't think it would be easier for the government to track you if you exchange it for physical cash. Unless you did illegal activities and someone reported you, that is the time, government will focus on you and will find way to track you.



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January 01, 2017, 09:26:11 AM
 #154

Plus, it can be hard to trace many transactions and implementing taxes can be near impossible not unless you can really be so honest with your dealings online.

Although Bitcoin transactions are hard to trace, once you convert your coins to fiat it becomes easier for the government to track you (that is, unless you are exchanging for physical cash). So honesty doesn't matter.
Since you made bitcoin transactions, I don't think it would be easier for the government to track you if you exchange it for physical cash. Unless you did illegal activities and someone reported you, that is the time, government will focus on you and will find way to track you.

Yes.. physical cash is difficult to track. But then, in order to exchange your coins for physical cash, you'll be engaging in some form of communication (emails, phone calls.etc). These communications can be tracked.

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January 01, 2017, 10:31:56 AM
 #155

No one said it was illegal. But no one has admitted it.

You are wrong. Some countries, such as Switzerland and Singapore have legalized Bitcoin, and have even introduced laws aimed at its regulation. On the other hand, only a few countries (such as Vietnam and Iceland) have banned it explicitly.

Most of the governments have already come to terms that bitcoin is here to stay, so even if they wanted to ban it in some way they eventually though better of it. Yet there are governments that are either still getting the whole idea wrong or are just too stupid to accept the facts
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January 01, 2017, 04:00:44 PM
 #156

bitcoin is not illegal but some ppl use it in criminal activity
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January 01, 2017, 04:06:50 PM
 #157

Because many countries don't have yet any rules to control bitcoins.
They are cared of laundering money, terorist financing, no taxes and etc...
sooner or later, the Bitcoin will be considered as legalization.
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January 01, 2017, 04:57:18 PM
 #158

Perhaps the main reason why bitcoin illegal in some countries because of security problems and bitcoin widely used for negative activities. Many countries declares illegal because it is less secure so it can not be legalized because it would be detrimental. In addition, many countries who were thinking bitcoin as drug dealing, money laundering, etc. It will make people more able freely to crime, so many countries are declares bitcoin illegal. Maybe it was the cause of many countries declares bitcoin illegal, ie because of the trust factor.
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January 02, 2017, 04:55:20 AM
 #159

No one said it was illegal. But no one has admitted it.

You are wrong. Some countries, such as Switzerland and Singapore have legalized Bitcoin, and have even introduced laws aimed at its regulation. On the other hand, only a few countries (such as Vietnam and Iceland) have banned it explicitly.

Most of the governments have already come to terms that bitcoin is here to stay, so even if they wanted to ban it in some way they eventually though better of it. Yet there are governments that are either still getting the whole idea wrong or are just too stupid to accept the facts

Can't brand them as stupid. They are not legalizing it, as Bitcoin will be difficult to control. You can't call them stupid for doing that. A few of the countries have realized the potential of Bitcoin. Good for them.

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January 02, 2017, 08:40:35 AM
 #160

Perhaps the main reason why bitcoin illegal in some countries because of security problems and bitcoin widely used for negative activities. Many countries declares illegal because it is less secure so it can not be legalized because it would be detrimental. In addition, many countries who were thinking bitcoin as drug dealing, money laundering, etc. It will make people more able freely to crime, so many countries are declares bitcoin illegal. Maybe it was the cause of many countries declares bitcoin illegal, ie because of the trust factor.

Don't forget, people fear what they don't understand.
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