Why Bitcoin isn't a legit currency.

[Offece]

due to the fact bitcoin currencies have not been formalized in various large cities, in order that the bitcoin currency has no longer been recognized by using the public, i am hoping the authorities can develop bitcoin currencies, so that bitcoin can come to be a currency in a huge united states.

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[Vanessahardy87]

This is legit because bitcoin has a real value in our currency because this is like a gold the more demand and when the supply is nearing to reach we will see the value will go up more because of the high demand.

[beezare]

bitcoin cannot be a legitimate currency because the government cannot regulate bitcoin and the unstable price of bitcoin always changes can cause economic chaos and it will cause losses to the country

[Daybreak76]

In a country those things or activities called legal which get the approval from the government and government approve those which they can control and I think it is the main reason.

[Simson Emily]

Bitcoin is not legal in the world. Many national governments are concerned about Bitcoin's influence on politics, society, and economy. But i believe it will be accepted in near future.

[Saveplus]

Bitcoin is still illegal in any country but there are some country that make bitcoin legal like in japan,they supported cryptocurrency using it as their payment method.

[tumokatok]

Bitcoin is not a legit currency yet because its not accepted or recognised so it cant be a legit currency it can only work out when the government accept and  to be a currency well for now its does not pay tax

bitcoin is not yet a legal currency, but the government recognizes the existence and circulation of this bitcoin currency, and the government is still in the stage to legalize this currency, because there are already some developed countries that legalize this currency, we just wait

[RichardScott91]

It will never be possible because this bitcoin is only created from digital currencies and this bitcoin will never be a paper currency, if you want to make transactions using paper currency then you can use fiat currency.

[admosfir]

I think this is because the amount of bitcoin is very limited with increasing demand, bitcoin is also the first cryptocurrency pioneer

[Andrewhart]

bitcoin has a price that keeps changing so that it cannot become a currency because it does not have a fixed price and will be dangerous if used to buy something because prices can be very expensive but can also turn out to be very cheap.

[Sergey698698]

All governments cannot regulate it because it is difficult to track transactions.If people will pay with cryptocurrency, they will be able to get away from taxes.

[vladdracula06660]

Bitcoin can not control and therefore do not want to recognize it but not all countries of the world !

[prj112031]

why are you sating that? bitcoin was legit but it depends on the people who thought that bitcoin is not a scam and a ponzi scheme only.

[nadezda@]

Bitcoin as well as the whole cryptocurrency is distinguished by its individuality - it is decentralization,and the fact that it is impossible to control the state refuse to accept.

[Darz299]

Currently bitcoin has not become a legitimate currency because some countries have not recognized the existence of bitcoin, bitcoin has also not been able to be controlled by law because the ever changing value of bitcoin, unstable bitcoin always changes can cause economic chaos and will cause losses to the state. Bitcoin money is actually very well developed, because big countries will experience progress rather than decline

[rochellesagabaen]

In basic terms until the point when it gets a concentrated state it won't be given significance as a legitimate money. In my reasoning it will get the legitimate status with some kind of constraints relying on the legislature. It is genuine, as everything occurs through web misleading is simpler and this influences individuals to term it as not a genuine one.

[dificanovi]

In simple terms until it gets a centralized state it will not be given importance as a legal currency. In my thinking it will get the legal status with some sort of limitations depending upon the government. It is legit, as everything happens through internet scamming is easier and this makes people term it as not a legit one.

I agree with you, before crypto currency sites are centralized and are under government control, bitcoin will not be considered a legitimate currency. now crypto currencies cannot yet be a legitimate currency because the government cannot yet regulate crypto currencies, in my opinion this is the reason people are still hesitant to invest in bitcoin. I also think that if bitcoin can be set by the government, the price of bitcoin will not rise higher.

[remuy24]

bitcoin is not a legal payment instrument and is not regulated by the central bank, the central bank is not responsible for the risks associated with the use of bitcoin. The Currency Law also confirms. Consistent with the Bitcoin case, the increasing value makes it more valuable as an investment commodity. People buy Bitcoin not to use it as a payment tool when shopping online, but wait or find other Bitcoin buyers who want to buy their Bitcoin at a more expensive price.

[jundy020]

I think it is because some governments than doesn't approve bitcoin in their system and country and yes there is some negative outcomes that might happen but the benefits are great. Plus, it is very expensive making the tax huge as well and its price is not stable unlike the real currency which relies to the economy of the country.

[ParveZ219]

Bitcoin is always a legit currency...But the transaction which are done using cryptocurrency is sometimes not legal because they think that crypto is totally anonymous...So it can be prevented by making bitcoin transactions traceble and So everyone will start calling Bitcoins as legit currency.