Why government announce bitcoin is illegal?

[paulk11087]

Because governments think that BitCoin is not reliable about security. They think that illegal trade will get more and more, but even now they do not realize that they are done too much. In any case, governments will have to go into this system somehow. Early adopters will be adapting earlier.

[DannyMarco]

Because bitcoin crypto currency didn't make any deal with governments and also governments are unable to get any thing from here thats why the announce it illegal.

[bozo333]

Few countries are says it is illegal because many gamblers are involved in this platform so many peoples are escape from taxes so government is directly announced it is illegal in some countries but all the countries are accepting future so some regulation is possible in Bitcoin.

[angchosenone]

Government and administration of different countries/provinces may have considered bitcoin as unlawful in light of the fact that it is an online money that they have no control of. In any case, the ubiquity is high that many individuals utilize it for different reason like a genuine cash and for producing wage too which is useful for the general population. I figure government calls something unlawful in the event that it isn't commanded and saddled by the administration, along these lines they don't profit by it.

[dav-santoshi]

Bitcoins are not authorized as medium of payment. Furthermore the government feels that bitcoins which is virtual currencies may encourage illegal transactions. As there is no rule to regulate them. This has made Government  announce officially the Bitcoin payment as illegal.

[lestariptr]

Because it seems the government is afraid of bitcoin. Bitcoin is anonymous and can also be used for crime. The government is afraid if bitcoin becomes negative. So the government announced that. I hope the government can understand bitcoin. That's just my opinion

[jak3]

First of all, Bitcoin does not make any profit on government agencies so the government does not have any revenue on Bitcoin or any other cryptocurrency out there. It does not require any permission from the government and that clearly makes them angry. According to Government every money which goes out or comes in their country has to pay taxes and needed their permission which Bitcoin does not so that is why they have banned Bitcoin.

[drukoz2]

I think the government is thinking first and foremost about how it will benefit them. Bitcoin is very limiting the government's power over people financially, in view of its decentralization. Most likely, this is the reason.

[jorgelugra]

To my mind, this happens due to the fact that btc is really illegal, it can't be controlled by the government. That's why it doesn't like it much. However, I consider this to be one of its best benefits

[DiabolicAnt]

It's not true, BTC isn't illegal all over the world. Some countries try to have crypto under control because they want to protect their economy, and it's no wonder to me. Sure, it's the easiest way though.

[Jordens]

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

It may occur many problems that would be extremely difficult to solve, so I think they think the priorities of this coin, I think soon all change, time will tell what is what, and what awaits us.

[billionaireSHS]

They can easily judge bitcoin, they can easily says that it is a scam that is why many people are hating it. So as a result, even the government convinced that it is a scam because of people sayings who is actually not. They do not know what bitcoin really is, because they didn't that experience that bitcoin is good and trusted.

[Sevarchik]

They understand what this one more way to recieve extra moneys from taxes and this mixed with control over cryptocurrencies.
Cryptos while not uses in the mass and this give opportunity control traffic, when all use transactions without exchanges tracing will be much harder

[Cryptotissue]

Illegal business transactions exited before the creation of physical fiats, so you can conclude that bitcoin will be used for illegal transactions. Governments are banning bitcoin because they just not understand the relevance of it and they don't also like the idea of decentralization.

[Ethan Argu]

Bitcoi.n can't control goverment it has decentralize. They can't control like fiat they have to put on a tax in every transaction . Product and services if they put on a tax on every transaction theres a possibilities that the tax will be going into personal interest.

[rjsmith]

The government announced bitcoin is illegal because it does not come from the central bank.first time government not trust bitcoin but then didn't knowledge that bitcoin is good and trusted.

[fishball]

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

Definitely because they do not know how to handle a virtual currency such as bitcoin which is technically has its own way or regulation. So it does not matter whether they legalized or not since bitcoin itself can work on independently.

[KofiAdepa]

It's just simple the government has shown that looking at the speed BTC is going and looking at how enthused people are with they will not be able to compete with it. So in order to stop this then lets make it illegal and deter others from going into it. Trust me they are losing focus on their traditional currency.

[colvis]

Government are announcing bitcoin to be illegal base on them being unable to regulate and control the price. So they said they are illegal so that people will vacate from it which is not possible.. We all know that bitcoin has helped us in one way or the other so there is nothing they can do that will change our minds towards it.

[maxilopez]

the government at this stage is not beneficial bitcoin because they can not track it and can not get any profit from it so they sow the negative about bitcoin