Why government announce bitcoin is illegal?

[Ace Amias]

Bitcoin is the decentralized and for this purpose the bitcoin is illegal in several countries because of the decentralization the government can not make check and balance and can not maintain the proper record of bitcoin received and transfer so in my opinion that's why bitcoin is illegal in different countries if it is centralized then maybe it is accepted.

[jakirdj95]

While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government ...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.

[Bounty_Hunter]

because governments fear the blockchain revolution. They are afraid that bitcoin will destroy the existing monopoly of banks.

[healthcarep]

As Bitcoin has no guidelines or rules, obstacles, so we cannot ruled over bitcoin. So, someone can use it fir unlawful activities, it really is why government introduced bitcoin illegal. And also if we use bitcoin or earn bitcoin, there'll not be any document, so government cannot document our incomes that why they can not inform us to give exececive tax. this is why the annouced bitcoin unlawful.

[Jammypoe]

You and I pretty know well there are reasons some governments of the world frowned seriously on cryptocurrency. They do not want news about it aired, or discussed, it is that bad. However, they do have their reasons for this. The fact that it could be used for illegal activities itself serves as a factor. To say that is coming at a time countries of the world are trying to curb terrorists activities.
Also,  the fact that it could challenge the authority and power of any national currency makes for another reason. The fact that it could replace national currency is totally frowned upon. Powers are derived through that. Nations will not accept that.

[Dondisimo]

Do you really believe everything the government says and does? The authorities always make decisions in their favor, unfortunately, and bitcoin is simply unprofitable for them. And spat, that this is a unique convenient technology.

[gamechangers]

Calling bitcoin and other cryptocurrencies illegal is a selfish declaration on the part of the government saying this. Government has always wanted to control how you spend your money and encourage banks to charge you heavy fee and in turn make income and much more from this arrangement.

[adadaorlina]

Why government announce bitcoin is illegal? Because Bitcoin is a virtual financial system that is not controlled or governed by any central government or private agency. They cannot control even the people who used it and where they are going to used it. But good news is now many countries are realizing the value of it and started working with it. They make some law that it can not be abuses so I think soon some country will officially declared the legalization of bitcoin.

[Labajah]

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 not all government says bitcoin is illegal. Because as far as I know their are too many country's are now accepting bitcoin as legal tender in their country's and infact this country's are very progressive. I think this is a fake news.

[Huntler1993]

I sometimes put myself in the government shoes and ask myself what will you have done? You wake up and BTC want to just take over everything you have planned for, but  i also ask myself why will one  ill mouth one thing in order to get your side running if its not about selfishness. They just want to deceive us and i think this is the time to be hyper vigilant on some claims they make over BTC. I always tell others even if it is illegal i'm not using it illegally and what is their worry if they have nothing to hide. Over the past years is it now that they've found  BTC to be illegal.

[tsinelas]

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

Because don't see the relevance of bitcoin to the world and most especially they can't control and earn from it. As crypto is an anonymous transaction they can't regulate what transaction is happening.

[poletando]

government don't want that their country become the fraud center and money laundering place, why? because the bitcoin is anonymous and there are no body can't trace it, so it possible that there are many people that do fraud and money laundering, to prevent it government makes bitcoin illegal

[DoublerHunter]

They are afraid of the decentralization that can give people an idea to pursue it and if that happens then the government will not have any control of the cryptocurrency and if the things or technology is more on decentralization then it is a loss for the government because it means that they will have a lesser amount of power compare than before.

[doanngocdiep02]

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

[MidKnight]

They are just confused about cryptocurrencies. The decision must be fair and not base on news like it's just always used in the darkweb. Governments just only see bitcoin as an enemy and only visionary countries will see its worth like Japan and S. Korea.

[raventnc]

I think the main reason why the government declare that bitcoin is illegal because it seems that bitcoin is a threat to the national money of the country. Though bitcoin is decentralized coin, it can be a centralized coin its up to the government if they accept it as their national money.

[Nylelyn]

Government of other counties may have considered bitcoin as illegal because it is an online currency that they have no control of. However, the popularity is very high that a lot of people use it for various purpose like a real money and for generating income as well which is good for the people. I guess government calls something illegal if it is not mandated and taxed by the government, therefore they do not benefit from it.

[Ridersss]

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 the government is afraid that their currency will be displaced by bitcoin and make their money weaken. Yes, even though their currencies still survive, their exchange rates are not strong. maybe that is what makes the government ban bitcoin.

[Premooooo]

Different because the government believes in cryptocurrency and also the minds of people in bitcoin so it is not legal in other countries.Bitcoin is also legit in most countries most of which are acceptable for bitcoin here.

[koldir]

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 disrupts almost all the economy in the world, so they keep the already proven currency, the same rubles or dollars, but I think soon the cryptography will grow and no where not to wriggle.