Why Bitcoin isn't a legit currency.

[yanixbtc]

yes it's true bitcoin isn't a legal currency. many criminal use it like a crime their are use it payment system & who give you or who give me bitcoin you have no idea about it. so, not every government but some government not give it legal currency

For now bitcoin is not yet a legal currency but soon enough the time will come that all crypto will be acknowledge by the government. Some countries are already accepting bitcoin and are legalizing bitcoin transactions. So I think there is a big hope that bitcoin will rule over and become an acceptable currency with the aid of fiat money. Both currency can work together because we cannot deny that fiat money plays a very important rule also as virtual money in different countries.

[Falmera]

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.

If bitcoin will be legalize, it will be subject to the government authority. So its regulation will be dependent on each country's governance. It will become different, but we cannot say scamming of other people will stop.

[kangbasir]

Because bitcoin is not a legitimate payment instrument and still a government that rejects it for reasons made in money laundering or other criminal acts, but now many think positively about bitcoin and have been accepted in Asian countries and have been accepted as legitimate payments.

[Rafiqul]

Most of the country of the world bitcoin is not a legal currency. Because it is not regulated and centralized by the government. It is not implemented by the government.

[jonhn772]

Bitcoin is not a legit currency. Because government can't control it and so many illegal people use this currency for their illegal transactions and it is not accepted all country.

[adhikari98]

Since, government cannot control bitcoin so it is not legit currency and why government cannot control is because it is decentralized currency. Government always want to control currency so that they can control the flow of money during periods like inflation, recession and so on which is not possible through bitcoin. So, bitcoin is not legit currency.

[warkop121]

because bitcoin has been created as a virtual or digital currency that can not be used as a legitimate currency. therefore bitcoin will not be used as a legitimate currency because not all countries are legalizing bitcoin in the country. because to become a legitimate currency must go through government or government procedures, other than that the local currency or national currency also can not be removed from the world market. making the price very unstable. It's basically not money. Because an important prerequisite for a common currency is price stability, otherwise the economic order will collapse

[Chuhuy61]

I admire your effort for being newbie but well maybe that was too far tp create a useful information about bitcoin? Next time my advice is create content concisely to avoid boring post like this. Who want to read this? Maybe few people? And my concern also is they can search it through google so maybe your experience or own perspective is enough next time.

[Nakakapagpabagabag]

Most of the country of the world bitcoin is not a legal currency. Because it is not regulated and centralized by the government. It is not implemented by the government.

They cant regulate it because they cant control it, and even they can regulate it, they will not, because they cant get something from it. Government only wants the things that can be controlled, for them to earn something. Government scared of bitcoin, so that they want to destroy it, because bitcoin is a great threat to them.

[Noyon445]

Bitcoin isn't a legit currency  because of this anonymity. You know that It's transection too much secure and anonymous. No one can identity who is sender or who receiver. Also many crimal use this bitcoin as a payment gateway for his crime.So  government  doesn't like this things and sometimes they banned it

[yoseph]

Bitcoin isn't a legit currency  because of this anonymity. You know that It's transection too much secure and anonymous. No one can identity who is sender or who receiver. Also many crimal use this bitcoin as a payment gateway for his crime.So  government  doesn't like this things and sometimes they banned it

Anonymity is not the reason why Bitcoin isn't a legit currency, Just because it's decentralized is the reason why most governments don't want to legalize it but they have seemingly found a way around it by regulating it which will make sure that it's users are known and therefore could be taxed accordingly.

[altcoinhunter01]

It is not legal in all countries but some countries are already approved it as a legal currency and many countries are on the way to regulate it as per their country laws and we can see it will be legal in many countries in near future.

[prikitiw]

Some countries forbid bitcoin to move in its country, making bitcoin difficult to recognize as a legitimate currency. because bitcoin has been created as a virtual or digital currency that cannot be used as a legitimate currency. some countries also have strong reasons why they reject bitcoin. because this currency no one controls it & it becomes a new opportunity in the criminal world, etc.

[Compiler]

Bitcoin is not legit right now because the people are scared. They dont know exactly what is Bitcoin and they dont know how to controlate it. If they cant control something, they dont like it...

[maloibtc]

Thanks for sharing interesting and useful information about btc, which is the most popualr coin today and for many years more, i think it will occupy its legit place when our world will be ready to face changes

[Jackolantern]

To my mind, btc is the best coin ever as it is based on the great blockchain technology. I think that btc is the coin that will rule the market for long. to my mind, in the future more and more companies will use it

[gonizar]

It is true that Bitcoin is not an official currency because it is not accepted by most governments of each country. In addition, it is not centralized and regulated by them. Transactions are unknown and also the developers. In addition, bitcoin is not created and implemented by the government so it can not be passed. Some governments do not allow bitcoin to be legalized because they think, bitcoin will surpass the State currency

[Jian_Liux]

Legitimate currency is a currency the use of which is governed by the government, and is protected by law and is fully guaranteed in its use by a recognized government as a legitimate and generally accepted payment instrument, while cryptocurrency or bitcoin is not recognized by the government and is not protected from the government and is not a legal means of payment recognized by the government. That is why cryptocurrency or bitcoin is not considered a legitimate currency.

[froone22]

for me. that's my suggestion about that Bitcoin is not a legit currency because it is not recognised by central governments of each country as a mode of payment. It just act as a peer to peer payment among internet users. it may not be accepted by different countries because it is a money coming from the internet and can not control it the different countries or the central goverments of each country because it is not legitimate money

[ashahin7799]

Bitcoin is a strong crypto currency. Many countries have declared bitcoin illegal.Its main reason is that it is not controlled by the government.The government can not easily control this currency.As a result, economic problems arise in the country.As a result, inflation in a country may arise.