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virtualx
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September 14, 2016, 12:10:57 AM |
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why bitcoin is still illegal in many countries of world  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 . There is a board about bitcoin legality. https://bitcointalk.org/index.php?board=74.0Initially governments were very cautious about it (political program of early users) but as it can bring money into their country they turn more positive towards it. |
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noictib
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September 14, 2016, 12:23:43 AM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ i think bitcoin is not illegal but use of bitcoin in sime countries is illegal because many people using bitcoin as criminal activities . further more i will say there is no legit way which proves bitcoin as illegal . it is a better way for worldwide payment but still some people uses it as only for earning purpose . |
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coynedterm
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September 14, 2016, 12:48:36 AM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ in my opinion there is no solid reasons to say bitcoin as illegal . because in reality it is not illegal but it is a way to make payment from any part of world to any part with independently . i hope no one will say it as illegal or it is uses for illegal activity . all over i will say bitcoin is a gift of god . |
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coynedterm
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September 14, 2016, 12:52:14 AM |
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why bitcoin is still illegal in many countries of world 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 . There is a board about bitcoin legality. https://bitcointalk.org/index.php?board=74.0Initially governments were very cautious about it (political program of early users) but as it can bring money into their country they turn more positive towards it. i had also read this thread @virtualx . here in this Board only few countries had banned the bitcoin but many of countries are looking to declare as a real currency . my country also is in this list to declare btc as safe and legal to use . |
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Xester
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September 14, 2016, 03:24:31 AM |
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Like everybody here saying, the government could not control it and they would not benefit. But I do not think so, here in our country it is like legal because we can buy or deposit our money through bank and then it will be deposited to our bitcoin wallet and then you can exchange it into bitcoins. The government still benefit from it through taxes that banks remittance center, those stores that were partner of bitcoin wallet through tax.
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ObscureBean
Legendary
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Activity: 1148
Merit: 1000
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September 14, 2016, 06:10:44 AM |
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Because the system doesn't yet have a proper mechanism for dealing with it. The fact that Bitcoin is used worldwide makes it harder for individual countries to set up laws to control it. And since countries can't control users outside of their borders, it is easier for them to just ban their own people from using it.
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virtualx
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September 14, 2016, 10:22:14 AM |
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Like everybody here saying, the government could not control it and they would not benefit. But I do not think so, here in our country it is like legal because we can buy or deposit our money through bank and then it will be deposited to our bitcoin wallet and then you can exchange it into bitcoins. The government still benefit from it through taxes that banks remittance center, those stores that were partner of bitcoin wallet through tax.
In theory it was not controllable by government. This was several years ago in 2011. In practice people use it to buy products which are taxed by the governments and exchange through banks. In the end a government still benefits from bitcoin and the benefits outweigh the negatives. Because the system doesn't yet have a proper mechanism for dealing with it. The fact that Bitcoin is used worldwide makes it harder for individual countries to set up laws to control it. And since countries can't control users outside of their borders, it is easier for them to just ban their own people from using it.
It's easy to create a law but a law is obsolete if they cannot enforce it. Usually law makers have zero knowledge of technology. |
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maydna
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September 14, 2016, 12:16:31 PM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ i think country will not give any statement about illegal or legal of bitcoin, but maybe they will only said that every people which used and play with bitcoin will have their responsibilities, so if anything happen, don't blame other people which don't used or playing with bitcoin. i don't know if there was any statement about illegal or not about bitcoin in many countries. |
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Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
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September 14, 2016, 04:37:20 PM |
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Bitcoin can't be illegal because most countries, governments or state laws don't even recognize Bitcoin as money, currency or financial assets. In my country, for example, nobody recognize bitcoin. Even if I want, there is no way to report earnings from bitcoin to the tax authorities. I can only report earnings if I sell Bitcoin and exchange to other, ''hard'' currency.  |
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Berns
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September 15, 2016, 06:23:16 AM |
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I believe that the more the government will delve into bitcoints, the worse it will operate the system. Introduce some restrictions, taxes, etc.
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Dora Doll
Member
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Activity: 84
Merit: 10
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September 15, 2016, 09:14:34 AM |
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because every state has their rules and regulation and they have their own policies, if you going to start a business or going to do investment in a state you have to get permission from government and after that you can exercise such kind of activities. as bitcoin is still not recognize by any start or got permission form any state therefore it is still consider it as illegal.
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horace08122
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September 30, 2016, 01:40:56 PM |
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Nobody forbids use bitcoints. Just as long as their status is undefined. The government for the first time confronted with the phenomenon. Now senior officials think what to do with bitcoints
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Sanekavg13
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September 30, 2016, 03:37:37 PM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ Using the money the government regulates the economy through taxes ensures the existence of the state. Bitcoin prevents and so its use will be prosecuted. |
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igorokavg13
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September 30, 2016, 03:53:01 PM |
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And how do you administer bitcoin? If he gets wide distribution, it is possible to destroy the whole world.
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daiyuba1971
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September 30, 2016, 05:29:41 PM |
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Bitcoin will always be banned. Who controls the money, rules the world. I think the Americans will not allow a large spread of Bitcoin.
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Dizaster2015
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September 30, 2016, 07:07:59 PM |
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Bitcoin has circulated only on the Internet. It is difficult to deny. And walk in all countries, only the national currency. And no country will not allow the circulation of other currencies.
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Nowl1935
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October 13, 2016, 05:37:41 PM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ Bitcoin was still illegal to some country, because its not recognize by the government constitution of law and they will not allow bitcoin to be a legal currency. Because in each country has only one recognized currency which represent to every countries identity.. Bitcoin don't have own country identity. Just like peso it represent the Philippines, YEN represent the country of japan. And other currency represents their country. But unfortunately Bitcoin don't have. I think this is one of the reason why some other countries bitcoin is still illegal. |
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Berns
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October 13, 2016, 05:50:51 PM |
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why bitcoin is still illegal in many countries of world Is there any solid reason behind this ??/ Bitcoin was still illegal to some country, because its not recognize by the government constitution of law and they will not allow bitcoin to be a legal currency. Because in each country has only one recognized currency which represent to every countries identity.. Bitcoin don't have own country identity. Just like peso it represent the Philippines, YEN represent the country of japan. And other currency represents their country. But unfortunately Bitcoin don't have. I think this is one of the reason why some other countries bitcoin is still illegal. Any currency backed by state assets. What is behind the Bitcoin? Nobody knows. Therefore, he will never get the status of legal currency. |
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birareru1988
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October 13, 2016, 08:01:45 PM |
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Bitcoin can break the monopoly of the dollar so America will never allow its recognition. And not only America had no interest in it.
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Sanekavg13
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October 13, 2016, 08:34:06 PM |
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And how it generally can be accepted as a currency if it cannot be kept in hand? And indeed what he achieved? There is not currency!
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