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Author Topic: Why bitcoins illegal ????  (Read 13533 times)
novemberwoah
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January 02, 2017, 03:14:30 PM

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.
I guess it was not included. Because if bitcoin is legal or illegal is automatically definitely people, especially the government will know about bitcoin so they can declare bitcoin is legal or illegal. So I think the fear of what is not understood is not included in one of the factors why bitcoin be illegal.
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jhony99
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January 02, 2017, 05:41:08 PM

i think bitcoin is not illegal,,but some ppl use it in illegal,criminal activities Angry
phieiph
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January 12, 2017, 06:44:31 PM

i think bitcoin is not illegal,,but some ppl use it in illegal,criminal activities Angry
If the government of a country, and the police will suspect that some crimes are using bitcoin, it is a very bad way to be displayed on cryptocurrency.
salemon
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January 12, 2017, 06:59:25 PM

Recently read a very important information, but do not know how to treat it. Good or bad. Bitcoin interested business leaders. And I think that it is only because of the fact that invest their money in bitcoin and thus hide their income.
Holly-Dolly
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January 12, 2017, 07:19:15 PM

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.
There were several court decisions worldwide where featured Bitcoin as payment for drugs. Thus using bitcoin can pay for all criminal transactions. But the court did not find evidence against bitcoin.
Orion25
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January 12, 2017, 07:33:42 PM

An interesting question is why some governments refuse to accept bitcoin currency. And the answer is a very idle, it's illegal income citizens, which is nowhere to be fixed. Thus citizens evade taxes. So the answer is simple.
farl2web
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January 12, 2017, 07:51:59 PM

An interesting question is why some governments refuse to accept bitcoin currency. And the answer is a very idle, it's illegal income citizens, which is nowhere to be fixed. Thus citizens evade taxes. So the answer is simple.
If it is massive, the Government may be interested in bitcoin, and I do not think that it will benefit cryptocurrency. Although they were always looking for, and will be looking for how to make users and their revenues controlled.
Sithara007
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January 13, 2017, 05:37:03 AM

An interesting question is why some governments refuse to accept bitcoin currency. And the answer is a very idle, it's illegal income citizens, which is nowhere to be fixed. Thus citizens evade taxes. So the answer is simple.

Could you define the term illegal income?

IMO, illegal income is profiting from illegal activities such as the sale of banned narcotics and unauthorized firearms. If we earn Bitcoins from legal activities such as trading, then it can't be termed as illegal income.

bitcoinboy12
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January 13, 2017, 01:26:00 PM

An interesting question is why some governments refuse to accept bitcoin currency. And the answer is a very idle, it's illegal income citizens, which is nowhere to be fixed. Thus citizens evade taxes. So the answer is simple.

Could you define the term illegal income?

IMO, illegal income is profiting from illegal activities such as the sale of banned narcotics and unauthorized firearms. If we earn Bitcoins from legal activities such as trading, then it can't be termed as illegal income.

One context of illegal income is one where it can't be charged with tax accordingly. Illegal in a sense that it is not "legal" and "acknowledged" in that country.

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January 13, 2017, 02:39:34 PM

bitcoin is a trading media out of goverment controll, maybe they kinda have worries about it. even some peoples use it to buy some stuffs illegally. i think some goverments have to splay their theirselves into internet deeper, in order to avoid those misconception

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hexitor
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January 13, 2017, 06:37:49 PM

I think that the bitcoin is considered illegal because it is government of the countries that it wants to put his in the head of people because they are afraid of the fame of the bitcoins and that their money depreciate in the face of this virtual money.

cramcram21
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January 13, 2017, 06:49:45 PM

maybe because our government cant take control on it and it does not have  tax,
and it's anonymity other's could buy something in the black market and the terrorist could use it against them,
and also other's use it to earn online and they don't have to pay some tax

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(altair)
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January 13, 2017, 06:55:59 PM

anonymity,tax evasion and the government can't control it maybe that's just the reasons that I see why bitcoin is considered illegal,
I think that we are all aware that bitcoin is being used in the dark net to buy some illegal stuff and to pay for what ever they want
Choy13
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January 14, 2017, 12:23:33 AM

Becaue goverment does'nt see the positive outcome of bitcoin yet. And besides for that they know that they are not capable for controlling bitcoin money.

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Sithara007
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January 14, 2017, 01:47:50 PM

Becaue goverment does'nt see the positive outcome of bitcoin yet. And besides for that they know that they are not capable for controlling bitcoin money.

That is unfortunate, because the usage of Bitcoin can result in a lot of positive things, especially in the third world nations. Remittance is one of the sectors in which Bitcoin can do wonders. Imagine the third world workers paying just 0.1% or 0.2% to send their remittance payments, instead of the usual 10% or 15%.

ooom
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January 14, 2017, 02:01:09 PM

Becaue goverment does'nt see the positive outcome of bitcoin yet. And besides for that they know that they are not capable for controlling bitcoin money.

Governments are made from people and people tend to corrupt. As there will be money and government there will be a constant corruption, manipulation and scamming of society by powers above society.

Bitcoin gives society a freedom from people corruption in government.

And we will never have a government without corruption until money exist.

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noel2123
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January 15, 2017, 01:25:44 PM

It is not that kind of "Illegal" we are saying, it is because, some other people does not know about the bitcoin. Other people treat it as illegal, because they do not know about the bitcoin, but for us, who are using bitcoin, we all know how to use it as legal thing. They do not know how to handle bitcoin, so they know that it is illegal

gabmen
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January 15, 2017, 02:02:50 PM

It is not that kind of "Illegal" we are saying, it is because, some other people does not know about the bitcoin. Other people treat it as illegal, because they do not know about the bitcoin, but for us, who are using bitcoin, we all know how to use it as legal thing. They do not know how to handle bitcoin, so they know that it is illegal

I'm really not sure as well what "illegal" means here as I haven't yet heard of any country banning the use of bitcoin, or cryptocurrencies in general. Yes it is widely used in online gambling and casinos which is illegal in some countries, but the use of crypto isn't confined to that only. There are other use bitcoins that would make it easier for online transactions over long distances like for money transfers and online payments.

margarete11
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January 16, 2017, 12:44:05 AM

I am really not aware to some countries banning bitcoin but as long as I am concerned I think It's because of its illegal application that   results to Illegal actions Like buying Drugs , pornography and many othere Illegal activities that requires payment , It's because bitcoin stays anonymous and can't track the user behind that address/transaction.

noel2123
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January 16, 2017, 12:59:02 AM

It is not that kind of "Illegal" we are saying, it is because, some other people does not know about the bitcoin. Other people treat it as illegal, because they do not know about the bitcoin, but for us, who are using bitcoin, we all know how to use it as legal thing. They do not know how to handle bitcoin, so they know that it is illegal

I'm really not sure as well what "illegal" means here as I haven't yet heard of any country banning the use of bitcoin, or cryptocurrencies in general. Yes it is widely used in online gambling and casinos which is illegal in some countries, but the use of crypto isn't confined to that only. There are other use bitcoins that would make it easier for online transactions over long distances like for money transfers and online payments.

They say that kind of "Illegal" in their own minds. It can be "Illegal" because of the use of virtual money in gambling and casinos. There are other use of bitcoins, like money transfers, yet, we cannot assure or it can be legal for others who do not know where does the bitcoin came from. So some countries cannot trust bitcoin, because of securities, and can depreciate money or can make their own money.

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