Why government announce bitcoin is illegal?

[Asupangat]

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

On the other hand, bitcoin is not suitable for countries with certain laws. and bitcoin itself is still rarely used in trade in that country. And if using bitcoin is legalized, it will cause ugliness in various segments, such as the weakening of currencies in the country, etc.

[Apple Mac]

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 it is simple, because Bitcoin is a decentralized platform and they fear that somewhere else there would be this kind of system where in people will never ever long for government once more and I guess they see it as a threat since people were easily having a grrat amount of money than being involve to any centre related entities like companies, which happens to be the one who earns and become ricker than the one who work harder.

[nazaididuan1]

Bitcoin is a virtual financial system that is not controlled or governed by any central government or private agency.
The government is worried that BTC will affect the financial order of the country!

[dat.ho12492]

because they might be think that bitcoin was full of crime and some people could do it without any responsible, but if could see the government will have so much profit if they work together with bitcoin or at least decide bitcoin as a legal currencies.

I think the government is looking to work with bitcoin, this is a very good prey and brings them many benefits but unfortunately, they do not control the whole process of bitcoin,and that's really their problem right now. Especially as you say, bitcoin also becomes a tool for others to become criminals, tax evasion and money laundering, too many problems, they can not solve, so they need time and let the problem do not become larger, their choice is to turn the bitcoin into illegal

[Bulljcak]

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

yes,especially if they cannot get taxes out of it thats illegal.

[dimiinx]

in my opinion, the government only uses real money, not digital money like bitcoin, therefore the government legalizes bitcoin, I think if it is possible to use bitcoin it will be useful and will advance technology today

[$anounimus$]

I think that might be due to the influence of the bitcoin price movement which has a very unstable movement that makes bitcoin very terrible if it is used to conduct transactions in several countries so that the government prohibits the circulation of bitcoin.

[missyqt29]

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 that the bitcoin is illegal because they don't want to use it by the people. Also they are afraid to support the bitcoin because the bitcoin can control them. We all know that the bitcoin is very powerful so they afraid to be control by bitcoin.

[pithenclacke]

For your kind information, not all countries are announcing BTC as illegal rather some countries are legalizing BTC in their country. some countries may have illegalized because in those countries BTC are being used illegally. '

[Rohacsekne]

I think that the main reason for the ban of bitcoin is fraud, illegal actions and the inability to control it.

[MinerFTW]

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

Yes it is, BTC and crypto coins as a whole are very good things. But governments can not control it, so they are against them. If the government can not control something, it tries to destroy it, that's the simple truth. If they can not control people's finances, they can not control the people themselves.

[Lattlyined]

Many governments has already legalized BTC in their countries realizing its prospects of business. So, your statement is to some extent confusing. I think some countries are not legalizing BTC because of their countries internal policy.

[bitterdog]

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 there are some differences regarding this matter, some country is taking the decision to illegalizing bitcoin because they're still afraid on the new form of technology that bitcoin's bring. But, there also another country that illegalizing bitcoin but, not taking a strict rule about that, the government onnly warn the people about the risk of bitcoin.

[spadormie]

I think that it is because that bitcoin is very powerful that can overthrow the fiat currency. So, government banned bitcoins in some countries. And in some countries, they are afraid of bitcoin.

[awosesun]

Its simple, government control the economy and currency of it's country, they see bitcoin as a threat to their economy because they wont have any control over bitcoin. Besides, the way crypto generally is going, it will render fiat currency useless and that is why many countries trying to ban it. But some countries already legalising it, recently Germany legalised the use of bitcoin. It won't be easy though, but i think some of this country making it illegal will soon be left behind and they are going to be forced to join the moving train which may be too late for them.

[Paulrebello45]

great read!

[stownbridge]

The main advantage of bitcoin is decentralization. The government is afraid of losing its rulers. They are used to writing rules for themselves and it is necessary for everyone.

[Catch-22]

Because it is. Governments don’t want people getting scammed. Especially in bitcoin, where it is not regulated yet. Criminals are having a field day scamming people because there are no laws to deter or prosecute them.

[BestSSS]

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

Why do you think the government of many countries says and tries to make bitcoin illegal and banned in the countries?
It's very simple, my friends, You do not think that this way the authorities simply do not allow you to invest in cryptocurrency and ICO. How do you think the authorities benefit if people carry their money to cryptocurrency exchanges and projects and do not carry them to state banks, do not buy bonds? Of course not, it is easier to prohibit residents from investing in cryptocurrencies and force them to buy state green papers than to admit that bitcoin is the future and this is a success.
I think the economies of many countries especially leading will receive less money if all the money will go into cryptocurrency.

[bratuha]

I don't know much about government reasons even though I also agree that bitcoin will facilitate various transactions but unfortunately bitcoin is known as the currency of criminals

I don't agree with you. Because criminals also use fiat money for their aims