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Author Topic: Why government announce bitcoin is illegal?  (Read 6004 times)
tubig123
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September 03, 2018, 12:33:07 PM
 #141

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
This is true as of now bitcoin will still operating in all countries but not all the countries bitcoin is illegal but the times come those countries will manipulated that the bitcoin will raised into a legal if one of this can understand the benefits of bitcoin is good for the bounty hunters needed other income.
PoliteHyena
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September 03, 2018, 12:44:51 PM
 #142

Governments that have regulated and allowed Bitcoin are actually aware of how it works and how it can be utilized as a tool for gaining advantage over other governments. The countries that cannot regulate it or don't know how it works are the ones who are making it illegal.
WinterCamel
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September 03, 2018, 01:03:49 PM
 #143

There is a common fact that every country’s Govt. is afraid of. If bitcoin is used by general people Govt. will not have any control over people’s transactions and there will be a decentralized currency system over which Govt. will have no control.
CrazyHarpy
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September 03, 2018, 01:13:16 PM
 #144

There are many causes of banning BTC in many countries especially in Asian countries. If BTC gets approval of use then Govt. will lose control over people’s money and the value of fiat money will be nothing. Beside that many illegal activities has been done by BTC.
Dod Ong
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September 03, 2018, 01:18:06 PM
 #145

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 they announce bitcoin is illegal because they afraid to control them by the bitcoin. The bitcoin can control the government because the bitcoin is very powerful, The government avoiding the people to use the bitcoin because if the demand of bitcoin increase it may affect the government management.
Barrycuda7
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September 03, 2018, 01:22:40 PM
 #146

If bitcoin gets the approval of being a form of transaction then fiat money will lose its value as there will be created a decentralized market of currency. And that is the main issue that is not wanted by any Govt. around the world.
Patriode
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September 03, 2018, 01:28:02 PM
 #147

Because govt cannot control bitcoin. And as no one can track the transaction of bitcoin, people can use it in crimes. That is why many government made bitcoin illegal.
Jaguwar6
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September 03, 2018, 01:29:34 PM
 #148

No one can control bitcoin. Government cannot track the records of bitcoin transaction, which means it will create a black market and government will not get tax from it. So, many govt has made it illegal.
AngryPanther
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September 03, 2018, 01:31:21 PM
 #149

The main reason behind making bitcoin illegal is the govt cannot get any tax from it. The transaction by bitcoin cannot be traced and thus will create a black market. The criminals can also use bitcoin to do their transactions and they cannot be tracked. These are the reason behind the illegalization of bitcoin.
ranman09
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September 03, 2018, 01:36:16 PM
 #150

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

Agreed this is their problem with bitcoin they can't seem to track and control it. Unlike fiat where they can easily reproduce if they feel like the county needs it. Not considering what will be the effect worldwide.
bobyhodob
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September 03, 2018, 01:36:29 PM
 #151

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

Cheesy even countries that do not allow bitcoin not in their country cannot ban and stop it all in real terms.
not all countries ban bitcoin

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Crafts12
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September 03, 2018, 01:54:11 PM
 #152

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 that case, I think there is a positive and negative reason why the government announve that bitcoin is illegal. The positive ones that came up to my conclusion is that they have seen that a lot of people uses bitcoin as an excuse for illegal transactions such as buying prohibited things. As for the negative, maybe the government wants to stop the system of bitcoin all over the world. Maybe they don't want it to be more popular and used.

Verde_Mantis
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September 03, 2018, 02:01:28 PM
 #153

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
There could be several reasons, such us that they don't like the fact that bitcoin is not easy to track if you don't know the owner of the wallet, or maybe they simply have an old mentality and don't get that this is going to be common in the next years.
dgoswami12
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September 03, 2018, 02:13:37 PM
 #154

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
Really bro , please tell me from which country are you. And can you give a proof of government calling it ileegal. Dont believe in fud and rumours. And be sure before saying something random comments.

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exchangegif
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September 03, 2018, 02:15:01 PM
 #155

Bitcoin is decentralized currency and any authority is not controlling it so most of countries is scared bitcoin can be use for illegal activities. in upcoming time bitcoin importance will be more rather than fiat currencies and its really bad for their economy but in my opinion bitcoin is the safest and best method for digital payment.i bitcoin will be a global currency and peoples will be use it for small and bulk transaction with minimum fee if all countries will adapt it and use its blockchain technology for new digital payment.
davhek
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September 03, 2018, 02:20:42 PM
 #156

Because they don't like not having the control over the money. On top of that, many banks will lose out due to the cryptocurrencies.

gokudera
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September 03, 2018, 02:53:49 PM
 #157

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 they announce bitcoin is illegal so it will be avoided by people. I also think that they wanted to destroy bitcoin so that they announce it. They said that they said it only because they can not control it.

cabrakaned
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September 03, 2018, 02:56:27 PM
 #158

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
None of the government announces that bitcoins are illegal but the terms and the ways they are used are illegal that's why bitcoins are not yet completely legalised. Bitcoins are used in most of the illegal activities online and i guess that is the worst part of bitcoins. This affect bitcoins to stay away from being legal. Even if these kind of works are shutdown than i think that the government can have no issue in making bitcoins legal. Globally all the governments should soon legalise bitcoins to really make the future for cryptos grow more wider.
Odlanyer
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September 03, 2018, 02:57:09 PM
 #159

Yes, bitcoin until now was illegal, not accepted and adopted to some countries because they afraid the fastest scattered of bitcoin and they thought that people was using illegal transaction by bitcoin.
Kasliono
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September 03, 2018, 03:01:50 PM
 #160

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 my view, it is not make any sence by saying a bitcoin is an illegal. The only thing that make sence to say illegal is how you use bitcoin. When you use it for illegal purpose such as buying drugs or something, then it means that not bitcoin that illegal, but your action for buying drugs. We should think smart guys.
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