Why government announce bitcoin is illegal?

[emrul1996]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

[Bakugan]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Maybe because many people used bitcoin in illegal transactions that is why they think its illegal. Well if that is their opinions and thoughts about bitcoin , we cant blame them. But we believed that bitcoin is very helpful to us.

[TechnoX_X]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Not all countries illegalize bitcoin. There are several countries like Japan, Korea, and many others who have left bitcoin behind. But in most Asian countries it is illegal against bitcoin. Why do they illegalize bitcoin? Because they are afraid that the FIAT currency will no longer apply to society and will be replaced by something new, bitcoin. If that happens then the currency in that country can be worthless and unused. To avoid that, the government is illegalizing bitcoin. And not only that, bitcoin is often used for misuse of transactions and payments. Examples include buying illegal drugs, supplying secret weapons and others

[lyfecoin]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

In simple words it is a private currency that Govt can not regulate,track or control which will have effect on economy of the country
When there is no accountability or tracking of transactions,it will create a black market economy and short fall in taxes and increase in crime and instability.So no Govt wants to lose control on economy and cripple

[iTzMeZaN]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

i think couse goverment nothing gets taxes in this world of bitcoin so many country agains in bit coint coz no monitory of goverment no taxes they get.

[adpinbr]

I think it is because some drug lords use bitcoin as a way of having illegal transactions that can't be located by the government.due to this, many government sees bitcoin illegal because they are controlled by them and does not have a proper legalizing process of legalizing a fiat or local money.

[Sexie]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

e e


The government announced  it as illegal because  it does not come from the  central bank. It is non taxable. They can not monitor  such a  big coin if it is an asset or investment so that they can impose the owner to taxation

[bellamente]

Governments do not want to lose control over monetary transactions. Through anonymous transactions, the scammers launder money.

Therefore, law enforcement bodies are against legalization

[BlackPanda]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

This is because there are still many governments that are not ready when receiving the circulation of bitcoin in their countries. This is very reasonable because until now there are still many governments that make decisions in determining the direction of the development of Bitcoin. I have seen various situations and it turns out that the most appropriate thing to do is to wait. That's far better than putting pressure on the government.

[kkaroul4]

if in my opinion because the government and the bank are afraid that the community will choose bitcoin to be used as an investment rather than using paper currency. so because of that the government announced bitcoin was illegal

[FlightyPouch]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

"world wide"? Do you have any proofs, articles, sites, or peoplr who said this? Who relayed this information to you? Bitcoin is not illegal in fact Germany made Bitcoin a legal tender, I still don't know if that is legit information but that is a proof that it is not really an illegal crypto currency in the world.

[BrewMaster]

But world wide all county are announced its illegal.

of course in the dream land anything is possible. there are unicorns and Leprechaun everywhere and the government in that "world" has announced bitcoin illegal.

[Diruy raya]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Menurut pendapat saya tentang mengapa pemerintah mengumumkan bitcoin ilegal karena bitcoin bukan mata uang yang sah di negara kita dan pula kalau  Bitcoin dilegalkan  secara mendadak atau sepihak tanpa persetujuan dari pada para legislatif,maka atas dasar inilah pemerintah mengilegalkan bitcoin.

[adpinbr]

And what specific country is he/she stating about? I think that these governments has their own unique reasons on why they are banning Bitcoin on their homelands, one of the plausible reasons is that they do not have control and therefore cannot be taxed.

[Bgbolahan]

You can't expect them to approved something they can't control

[demenBTC]

bitcoin will continue to move even though there are still many countries that still declare illegal, I'm sure someday bitcoin will be accepted in all countries on the grounds that bitcoin is a technological advance in the future

[Epimetheus]

We know Bitcoin is one of the powerful and top coin in marketplace.
But world wide all county are announced its illegal.
I personally think that bitcoin is very help us for paying any payment.
Its has many facility.
But our government are announced its illegal

Different government have different agenda with bitcoin. Some of them have good relationships with bitcoin and some of them have a bad relationship with bitcoin. The main reason behind government declare bitcoin is illegal is its decentralised nature which directly affect their country economy by affecting their country own currency at international market. Another thing is its volatility which affect an country share market value which ultimately affects the country economy.

[jamota]

Because they are afraid that the FIAT currency will no longer apply to society and will be replaced by something new, bitcoin. If that happens then the country's currency can become worthless and unused. To avoid this, the government illegally bitcoin. And not only that, bitcoin is often used for misuse of transactions and payments.

[Babatunde1989]

Bitcoins are not authorized as medium of payment by RBI. Further the government feels that bitcoins those of virtual currencies may encourage illegal transactions. As there is no rule to regulate them RBI has warned that individuals do it of their own risk. Government may announce officially the Bitcoin payment as illegal.

[ompoetra]

The reason why bitcoin is increasingly flooded is because it is considered to have more benefits than conventional transactions. Bitcoin exchange rates from year to year continue to rise. In fact, at present, one bitcoin is equivalent to Rp 200 million.
At first glance, bitcoin is a promising investment land. Finally, many people flocked to buy bitcoin to be sold again when the price was soaring.
Because it does not have a central server and no regulation is regulated, bitcoin transactions can be done as you wish. Of course as long as you have a bitcoin virtual account or wallet. There is no tax that will be charged to us, such as when transactions are through certain financial institutions.
In addition, bitcoin is predicted to have super safe and strict technology. All transactions are transparent and spread to millions of servers. So that it is almost impossible to counterfeit the bitcoin database.