Why Bitcoin isn't a legit currency.

[iiikkkxj]

It is not legit currency because it is design as decentralized and do not have stable value. And government dont want bitcoin to be legal because they cant control it and they cant get money from bitcoin.

[Larva14]

It is not a legit currency because it is not regulated by the government, it is not implemented by them but someone just invented in it and they don't want people to become victimized of this as they were thinking that it was purely a scam.

Yes, it is not regulated in your country that's why it is ban and illegal to work in bitcoin in your country, and we cannot blame your government because they care there country men against bad people using the name of bitcoin.

[Techfrog]

Because it is not being recognized by a lot of countries and that is what is making it a little bit shady, but i am more than confident in that in a near future we are going to see bitcoing much more stronger than what it is at the moment. Lets pray for that

[hxtop]

Bitcoin is not a legal currency. Because there is no definition of Bitcoin in the existing laws of the states. Any country that legally recognizes Bitcoin must first regulate all its laws in an appropriate manner.

[m_f_o_c]

In our world there are many things that are illegal, but they still exist. Bitcoin, although not legal, but it is constantly evolving and has strong support from people, so adopting bitcoin is only a matter of time.

[btcdevil]

In our world there are many things that are illegal, but they still exist. Bitcoin, although not legal, but it is constantly evolving and has strong support from people, so adopting bitcoin is only a matter of time.

Even if their is strong supported by people but still it will take!long time to get legalized as most of the government are not ready to accept bitcoin as they think that it is not safe and it is not controllable.

[Lalapo08]

Bitcoin is not a legitimate currency because all countries have not received bitcoin as a means of payment. Many countries are challenging the existence of bitcoin. Whereas good bitcoin technology should have support. Besides that, to be a legitimate currency, bitcoin must be systematically centralized. I'm sure if bitcoin switches to a centralized system,  the easier bitcoin reaches the legitimate currency. Which is feared now because of the large number of frauds involving bitcoin because bitcoins are decentralized. That’s a bit of my opinion.

[hector3115]

Because the government doesn't want to make it legal due to the digital currency characteristics.  They have no control with it so they have lots of fear that if they will make it legal they cannot handle it anytime they wanted.

Groups in inside the government are making their money from the corruption business. They take part of the money from small businesses that are only on the start. This way does not intersect with intentions of Bitcoin.

[CrytopiaRaRa]

Many factors to be consider for  that and i think bitcoin will not become a currency because bit oin is decentralized digital currency.And the paices  changes  frkm time to time by depending to the people.

[revo1044]

When we exchange Bitcoin we don't pay any tax to Government.For this government Don't give permission in his country .It's rule need to pay tax to government if I do any bussiness, purchase goods etc.On other hand government have no control on Bitcoin this is also big issue.

yes i think this is the only one reason bitcoin is illegal ,Separating money from government control and enabling truly anonymous electronic transactions .

[Rustandy]

Because it is very risky and full of speculation because there is no responsible authority, there is no official administrator, there is no underlying asset under the virtual currency price, and the trade value is very volatile, vulnerable to the risk of bubbles and prone to be used as a means of money laundering and financing of terrorism, thereby affecting the stability of the financial system and harming the public.

[rawr1620]

Until bitcoin becomes a centralized it wont become a legit currency. But Bitcoin is still served as a legit currency just it is an online one.

[rindayle]

Because it does not work with governments and is not legalized. Through it you can make illegal business, as it is uncontrolled coin. I think that's why she's not developing.

[Thefrolly]

You yourself showed that Bitcoin is actually much better than other currencies. If you look at other national currencies than they have gone down in  value but Bitcoin is gaining value. What are the national currencies backed with? Nothing. Every currency has its value based on the demand and supply of it and so is Bitcoins value derived from it.

[bulanso12345]

Because it does not work with governments and is not legalized. Through it you can make illegal business, as it is uncontrolled coin. I think that's why she's not developing.

Because like what others say does not work with the government,not now but tomorrow it should be happen.

[jakoylantern]

For me, bitcoin isn’t a legit currency because the government does not create it or it does not proceed with the requirements and qualification of a currency. Also, bitcoin is created no to be controlled by anyone or someone because it is decentralized and can work without a single administrator or central bank. Our state has different rules, laws, and regulation so if bitcoin is disobeying this they have the jurisdiction to make it illegal or prohibit it. 

[Poorman80]

I don't believe bitcoin as said doesn't hold any value. When people buy bitcoin the money paid is by itself the value it holds. We know it is volatile yet even when values get so low it still has its own equivalent value in dollar or any currency that it is exchanged to. It may fail  as a medium of exchange but consider that you can still use it as one. Look at the whitepaper by satoshi nakamoto and see how it was really invented. You will see that this was  made to bypass more taxation or is made to be an anti government coin. So getting legit is a bit hard to realize though possible.

[TGD]

For me, bitcoin isn’t a legit currency because the government does not create it or it does not proceed with the requirements and qualification of a currency. Also, bitcoin is created no to be controlled by anyone or someone because it is decentralized and can work without a single administrator or central bank. Our state has different rules, laws, and regulation so if bitcoin is disobeying this they have the jurisdiction to make it illegal or prohibit it. 

as for this was been created for nobody or no one can be ever have to controlled bitcoin currency even government well a lot of reasons why but most question things are why isnt even that government made to be more powerful but they dont even have to take the control of it.

[MrRiuss]

Bitcoin is not a legit currency because it is not regulated by the government. it comes from digital technology that is blockchain. so it needs time to become a legit currency

[abonti]

I think this is the bitcoin illegal Because the government won't implement it as a global currency since they want to control the means of the market, which is the currency. They want the currency to be centralized and the bitcoin is contrary to it since it is decentralized.