Why Bitcoin isn't a legit currency.

[Kertmu]

Because in the market there is a lot of manipulation in the trade with Bitcoin, and this is prohibited in the SEC.

[hools1122]

Bitcoin is not a legal currency because it is not accepted by most of the governments of each country. In addition, it is not centralized and regulated by them. The transaction is unknown and also the developers.no one can manipulate it and most of all governments cannot find out who owns it or make you pay taxes.

[Star_Bucks]

Probably it will not be a legit currency until whole the world accept it. Bitcoin is decentralized and this is also one of the reasons why it can’t be legit in this circumstances. But we just don’t know what will happen in future, everything is changing.

I think this is because most people thinks that bitcoin is an investment rather than a currency. Being a currency is quite hard because it needs to be accepted in the whole world, otherwise it will be impossible. This goal of bitcoin will take a long time before happening

[warriorcryptobar]

I like your view on why bitcoin is not a legitimate cryptocurrency except I disagree with one notion. All of the facts you stated are merely naming the lack of features of something in early stages. Anyone can say a Microsoft computer wasn't cutting it the first few years it was built. It wasn't until the upgrades proved to the world, what it was capable of doing. Im here now on something, that was once so primitive it couldn't hold a cd. We didn't like the speed of it, sound familiar? xtra Dial up sound. Also each computer came with an entire book of 100's of cd's you had to download one by one. Sound like ico with dapps in the works. We make it seamless and hardcode all the bulky things we hate about it. Its just too early to pass a judgement that lasts a lifetime for the first of it's kind technological breakthrough.

[quynhtran722]

The Block Blockchain for the bit of the bit of the two important point - it can be swap that need to need a trust between the middle, and it allow the anonymous list. With this 2 specific, Bitcoin same as the physical cash. But in the physical cash to be debt of a primary policy and the money of its checksums bank, Bitcoin will be not a debt of one. This is missing the maximum value with a currency. No nothing to block your value from the fall of 0.

[Cryptocb]

Bitcoin is a Crypto currency that many people invest and trade towards the industry and make more profit, which many people are taking it as a full time business, therefore  we are now Era of technology, and bitcoin business is legit.

[whythatdo]

it's not a legal currency because it's not being used for all of countries and it has to have a system, a legitimate law to protect people from using bitcoin

[Reigar1]

because otherwise, the entire banking system will collapse, which of course is not beneficial for people who are directly related to it

[conceivedspoon2]

Every countries fiat currency are legal tender and are presentable within the capacity and confine of that country. Bitcoin is acceptable in some places and some rejects it. It is not easy for a currency to be a globally acceptable, so it is bound to face this time and it will come out of it.

[senin]

If the legal currency is meant to give the legal status of the crypto currency, that is, the definition of its status in the state, the conditions for its circulation and taxation, it has long been carried out by some states. This process will be lengthy, since no state is interested in walking on its territory some other

[diceoption.com]

It is not a legit currency because it is not regulated by the government 

[ajuelnah akun]

the reason is because bitcoin cannot be set by any party including the government, bitcoin moves by itself the owner of bitcoin is a bitcoin bank itself. no authority controls it.

[damrianto]

This bitcoin actually hasn't been formalized into a currency. that's why until now bitcoin cannot be said to be a legitimate currency, to make these changes takes a very long time because this is related to the banking system and there will be a change in a market that concerns the unit price of this bitcoin. but for me bitcoin is better already a legitimate currency.

[drm]

This bitcoin actually hasn't been formalized into a currency. that's why until now bitcoin cannot be said to be a legitimate currency, to make these changes takes a very long time because this is related to the banking system and there will be a change in a market that concerns the unit price of this bitcoin. but for me bitcoin is better already a legitimate currency.

Why would a decentralized currency need to be formalized by official instances?
If it is being used as a currency it is a currency in my opinion.

[PAES23]

Because of the fact that it is not implemented by the goveernment, the fact that bitcoin is decentralized and fluctuate so much. but time will come that bitcoin will be stable and it will be easier for government to implement it.

[Starving_Marvin]

We're still not having a country which would try and risk to make bitcoin a payment system along or instead of existing one so because of that we can not call it a currency.

[kalopaw]

Because bitcoin is very risky and full of speculation because there is no responsible authority, there is no official administrator, there is no guarantor of assets underlying the price of virtual currency, and the trading value is very volatile.

[swaggerkeme]

The decentralized blockchain technology has made it really difficult for bitcoin to be considered as a legal tender, am pretty sure with little regulations many shall accept bitcoin as a legit currency for business transactions

[Futureglory]

I see bitcoin finding it difficult into the heart of numerous government of state and I do think they really think it will be a threat to them. They might loss the control and won't be good for them.

[shittypro]

Everyone in this forum know's all about crypto and bitcoin is the must popular crypto currency. Bitcoin is not officially Legit cos some country is not accepted bitcoin not because they don't know or don't trust it's because some country want to get taxes in bitcoin some country are corrupt and hope someday bitcoin will allow in all country specially at the bank so we can transfer easy and pay easy