Why Bitcoin isn't a legit currency.

[Raufjoze]

of course bitcoin has not become a legitimate currency because bitcoin has not been legalized in all countries, bitcoin is legitimate as a payment system is only applied in countries that legalize it

[malah]

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

[rasulibragimavic]

Bitcoin can't control as normal money, and so why not legalize !

[kimmykimmy]

Because bitcoin is a invisible cash and we dont see bills and if we can manage to give this a try to be a legit currency this world we can be amazing by giving a try.

[CLAID]

bitcoin is not a valid currency, but bitcoin can also be used in some countries for transaction tools, if we speak legitimately or not it bitcoin just waiting for illegal permits only from individual countries, because to be a legitimate currency must go through government procedures or government, other than that the local currency or national currency also can not be removed from the world market

For Bitcoin to stay and continue in the world as a digital currency without much expansion it doesn't have to be a legit currency but if we want Bitcoin to grow and adapt into more businesses and use as an international money it definitely have to be legit and may have to go under some certain regulations because currency political system avoid and eliminate what it cannot control or understand and that can happen to Bitcoin and even to other cryptocurrencies very soon

[bluehive21]

because the bitcoin is already 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 that legalize bitcoin in the country

Most countries still haven't legalize or accept as a currency and and yes one reason is it is a digital currency and unlike fiat money it cannot be controlled or traced via centralized authorities but still no one can say it will happen or not and the time is the only thing can decide that but there is a big possibility if majority of countries and banks accept Bitcoin even as an international currency beyond the formal path Bitcoin will be considered as legit.

[hachimon]

because every country already has a legitimate national currency and is always used every day. then not all countries and financial institutions understand bitcoin. and the world already has a global currency, the dollar. and we must be connected to the internet network if we want to use bitcoin. while most third countries do not have adequate internet access. and the conditions to be accepted as a legal payment instrument are accepted by the public.

[Demanderoca]

Yes, bitcoin isn't a legit currency but, for only some countries. Why? Simply because there are countries that accept and legalized the use of bitcoin as a currency, cryptocurrency to be exact, that makes it legit currency. It just became not legit currency if the government of a certain country didn't legalized the use of it.

[Sectedmn]

Bitcoin is legitimate, however as a digital foreign money, even though we can not use it like how we use our neighborhood money, however there are many ways to use it on line like how different foreign money did. there are numerous approaches to use and spend bitcoin and we are able to say this as professional and in my personal opinion.

[DPrillio]

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

No, I think that reason is not enough because volatility is normal even in a centralized currency so how much more on decentralized system that market is will depend of the activity for all the people who buy and sell in crypto market. There is only one reason I see of why government is hesitant to adapt bitcoin as a true legal currency and that is because its a decentralized system that even them can't control. Bitcoin is for the people's benefits around the world that is why many people like it and me too.

[ParveZ219]

Bitcoin is a legit currency but sometimes the use of Bitcoin is not legit like Bitcoin is sometimes used by the drug peddlers gun smugglers and so I don't think those transactions will be legit but Bitcoin is just a currency and its a legit currency.

[Rustandy]

Because it 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.

[Indamuck]

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

No, I think that reason is not enough because volatility is normal even in a centralized currency so how much more on decentralized system that market is will depend of the activity for all the people who buy and sell in crypto market. There is only one reason I see of why government is hesitant to adapt bitcoin as a true legal currency and that is because its a decentralized system that even them can't control. Bitcoin is for the people's benefits around the world that is why many people like it and me too.

I agree with you that the government is against bitcoin because it is decentralized and it will be difficult to control.  I also think governments realize that it can't be stopped so they would rather try to regulate it and generate tax revenue from crypto.

The volatility is still a big issue with bitcoin but prices will eventually become more stable once its more widely adopted.  Right now a lot of people are afraid to get paid in a currency that can drop 10 percent in one day.

[nagobinga]

because the word bitcoin is illegal that can be called a digital currency that can be through banks to exchange tokens where other people will not know it other than bankers with token sellers.

[Wong owah]

because bitcoin has not been acknowledged by the community, so the bitcoin currency has not been formalized in a large country, bitcoin currencies are actually very good developed, because the big countries are progressing rather than backwards.

[Sofiyah]

not a legal currency in some countries, and has almost become a legal currency in several countries. in this world maybe only a few countries have already legalized bitcoin. bitcoin is not yet legal, for several reasons, such as uncertain value, can change and be risky because it is intangible. but just hope bitcoin becomes a legitimate currency.

[Rocktop044]

It serves as a medium of exchange, as most online shops and outlets accept cryptocurrencies as payment. And it can be exchanged for fiat.
It however is not a legitimate currency. It is yet to be globally accepted.
Bitcoin aims to change our idea of what a legitimate currency is.

[letowss]

Bank of England (BoE) Governor Mark Carney recently argued that bitcoin has so far failed to be a legitimate currency measured by standard benchmarks since it is neither a store of value nor a useful medium of exchange. Bankers defending bankers! 

[withlove99]

In my opinion simply because the current Bitcoin price  is not stable and is not managed by the government so Bitcoin isn't a legit currency.

[Dondisimo]

Some countries are simply afraid to accept it as an alternative currency, as it will significantly change the country's economy. So we can only wait for countries to decide on this.