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Author Topic: Why bitcoins illegal ????  (Read 13534 times)
loreykyutt05
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January 16, 2017, 01:04:47 AM
 #181

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.

Yes, we cannot track bitcoin address/transactions, we cannot see where our "Virtual Money" will go, what if there are illegal transactions? What if hackers do illegal transactions? We cannot track their transactions, can do some illegal activities like hacking bitcoin accounts, and do some illegal things that involve money.


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January 16, 2017, 03:36:36 AM
 #182

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.

In that case, gambling can be termed as illegal, and not Bitcoins. Online gambling is prohibited in most of the countries, and in some countries it is a criminal offense. But then, even credit cards and PayPal can be used for online gambling.

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January 25, 2017, 03:20:25 AM
 #183

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.

for some country they are considering bitcoin as illegal because they dont seek research about this crypto currencies. they think that its illegal because it is not yet officially introduced to their country.

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January 25, 2017, 04:03:52 AM
 #184

for some country they are considering bitcoin as illegal because they dont seek research about this crypto currencies. they think that its illegal because it is not yet officially introduced to their country.

Some third world countries have banned Bitcoin. Vietnam is a perfect example. They don't understand the technology behind Bitcoin, and therefore they don't know about the advantages which Bitcoin offers. 

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January 28, 2017, 07:33:57 AM
 #185

The first step is to ban bitcoin opponents cryptocurrency looking for reasons. And the first thing to which they pay attention to it on the illegal use of bitcoin. This should be avoided if we hotit good future for cryptocurrency.
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January 28, 2017, 05:42:38 PM
 #186

The answer to why bitcoin is illegal is because it has not be legalised by those countries you are making reference to. For countries that are quiet, its then assumed to be illegal since it's not legal and to those who are outrightly saying it is, they have their reasons but I am sure its not unconnected to the fact that they are unable to control the flow bitcoin transactions.
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January 28, 2017, 05:46:24 PM
 #187

You can not mix with products that bitcoin is against the law. These are the same drugs or weapons. In one of the States has been litigation over payment for drugs via bitcoin.
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January 28, 2017, 06:16:47 PM
 #188

The answer to why bitcoin is illegal is because it has not be legalised by those countries you are making reference to. For countries that are quiet, its then assumed to be illegal since it's not legal and to those who are outrightly saying it is, they have their reasons but I am sure its not unconnected to the fact that they are unable to control the flow bitcoin transactions.
Already, many countries are trying to start controlling financial transactions bitcoin its citizens. But this can not yet do. But if you trace and link criminal activities and money transfers via cryptocurrency it is very bad.

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January 28, 2017, 06:32:46 PM
 #189

Charge users in a variety of possible fraud has a specific purpose, but what people do not use bitcoin clean at hand, it has already been proved. It is necessary to clean its ranks.
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January 28, 2017, 07:08:59 PM
 #190

for some country they are considering bitcoin as illegal because they dont seek research about this crypto currencies. they think that its illegal because it is not yet officially introduced to their country.

Some third world countries have banned Bitcoin. Vietnam is a perfect example. They don't understand the technology behind Bitcoin, and therefore they don't know about the advantages which Bitcoin offers. 
You do not even need to be engaged in illegal activities, and if the country or the government conceived to punish for non-payment of tax, the user bitcoin is outlawed and punished. It is illegal bitcoin.
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January 28, 2017, 07:22:53 PM
 #191

in some country there are no laws to use of bitcoin transactions and government can't control  it
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January 29, 2017, 02:47:07 AM
 #192

The best answer is the government is not ready to formalize bitcoin, they still worry that bitcoin could disrupt the circulation of fiat.

Why could disrupt fiat currencies?

Because legalized something must have accurate data and details of its users. If this can't be resolved, majority of people will move to bitcoin, and enthusiasts fiat is much reduced. It would be a national disaster. Anonymity is very taboo for a country, because it means the state can't keep track of all activities.

There are only two options for thgovernment:

- Think hard to mastering bitcoin technology (in collaboration with blockchain / create own crypto technology such as Japanese)

- Don't care about bitcoin

We see that China is still a problem with bitcoin until now.



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January 29, 2017, 05:06:06 AM
 #193

in some country there are no laws to use of bitcoin transactions and government can't control  it

I think its not just some countries though. Most countries i think are overlooking bitcoin and are not yet at the point where they want to legalize or ban btc. I'm sure governments are awaren of it but i think it not affecting their markets that much thatbit needs a lot of attention

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January 29, 2017, 05:43:36 AM
 #194

in some country there are no laws to use of bitcoin transactions and government can't control  it
Bitcoin is not illegal in some context but for it to used without fear of legal punishment, it will needs some legal binding. Most illegal use are on anonymous browsers, through darknet sites and purchase illegal goods such as guns, drugs etc. Such portray the bad use and if such transactions are caught they should be punished.
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January 29, 2017, 06:01:15 AM
 #195

Bitcoin illegal only from the state government rules only, proof of Bitcoin could be used in the countries that indeed such rules. Bitcoin is not shaped the same as conventional money is there, therefore no one will be able to stop Bitcoin for use during the country's still no internet connection.
The government with the rules is not wrong to issue a policy like that, maybe they are worried because Bitcoin yet familiar and still many people who still do not know and understand Bitcoin is also a way to use it.


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January 29, 2017, 06:11:11 AM
 #196

in some country there are no laws to use of bitcoin transactions and government can't control  it

I think its not just some countries though. Most countries i think are overlooking bitcoin and are not yet at the point where they want to legalize or ban btc. I'm sure governments are awaren of it but i think it not affecting their markets that much thatbit needs a lot of attention
That is the main reason the government can't control bitcoin transaction, they don't still know how to hold those things that is why some countries just banned it. Other countries like here in our country allows bitcoin although not yet legal but they are studying it now on how to legalize this matter. I am glad that my country is open minded with this matter.

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novemberwoah
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January 29, 2017, 08:00:20 AM
 #197

Bitcoin illegal only from the state government rules only, proof of Bitcoin could be used in the countries that indeed such rules. Bitcoin is not shaped the same as conventional money is there, therefore no one will be able to stop Bitcoin for use during the country's still no internet connection.
The government with the rules is not wrong to issue a policy like that, maybe they are worried because Bitcoin yet familiar and still many people who still do not know and understand Bitcoin is also a way to use it.
Regulations in some countries is actually not a whole bitcoin use regulations, but the use bitcoin as legal tender. So bitcoin can still be used but is limited and only for certain things in my opinion. And you are right that many government issued a policy that's because bitcoin is still questionable in terms of security and profit. But I'm sure sooner or later bitcoin will begin to attract many countries to start using it.

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E-shipper
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January 29, 2017, 10:18:24 AM
 #198

in some country there are no laws to use of bitcoin transactions and government can't control  it

I think its not just some countries though. Most countries i think are overlooking bitcoin and are not yet at the point where they want to legalize or ban btc. I'm sure governments are awaren of it but i think it not affecting their markets that much thatbit needs a lot of attention
That is the main reason the government can't control bitcoin transaction, they don't still know how to hold those things that is why some countries just banned it. Other countries like here in our country allows bitcoin although not yet legal but they are studying it now on how to legalize this matter. I am glad that my country is open minded with this matter.
I doubt that ever country in the world recognizes the cryptocurrency. I don't see any sense in it. In any country there is a national Bank that regulates the monetary policy of the state. Why lose this control?

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jovs
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January 29, 2017, 01:17:16 PM
 #199

in some country there are no laws to use of bitcoin transactions and government can't control  it

I think its not just some countries though. Most countries i think are overlooking bitcoin and are not yet at the point where they want to legalize or ban btc. I'm sure governments are awaren of it but i think it not affecting their markets that much thatbit needs a lot of attention
That is the main reason the government can't control bitcoin transaction, they don't still know how to hold those things that is why some countries just banned it. Other countries like here in our country allows bitcoin although not yet legal but they are studying it now on how to legalize this matter. I am glad that my country is open minded with this matter.
I doubt that ever country in the world recognizes the cryptocurrency. I don't see any sense in it. In any country there is a national Bank that regulates the monetary policy of the state. Why lose this control?
Government insist to present the bitcoin as they can't get any tax from it unlike in the foreign exchange, they collect tax from the online wallet like paypal, neteller, and etc. As time goes by, bitcoin shall be recoginize as the most reliable transaction method online. Goevernment's abused in giving tax for transaction must be stopped. Bitcoin, will set us free from that, bitcoin should be recognized by all of people.

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January 29, 2017, 01:56:34 PM
 #200

for some country they are considering bitcoin as illegal because they dont seek research about this crypto currencies. they think that its illegal because it is not yet officially introduced to their country.

Some third world countries have banned Bitcoin. Vietnam is a perfect example. They don't understand the technology behind Bitcoin, and therefore they don't know about the advantages which Bitcoin offers. 
You do not even need to be engaged in illegal activities, and if the country or the government conceived to punish for non-payment of tax, the user bitcoin is outlawed and punished. It is illegal bitcoin.

I refuse to pay tax on my Bitcoin holdings. I have checked the website of the Income Tax Department in my country, and Bitcoin is not mentioned anywhere. It is not even given whether Bitcoin must be considered as a currency, or as an investment. Therefore, I am not going to pay the tax.

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