Why government announce bitcoin is illegal?

[wasaisi]

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 not all governments ban it because only a few have announced that Bitcoin is illegal. Therefore your question may not be correct. The possibility of them announcing Bitcoin is illegal because they don't want Bitcoin to control the taxes in their country.

[lornadane]

But world wide all county are announced its illegal.

Your information is totally wrong and I afraid why you spreading such wrong information! Bitcoin is not illegal in all countries. A few countries announced it is illegal otherwise, most of the country supports bitcoin and cryptocurrencies. Maybe your country is a developing country, that's why bitcoin no tax system can harm your government's funds, that's why.

[Escan0r]

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 they don't want the economy of their country to be shaken or chaotic, so they better announce it like that. Even if we know that the crypto currency can get a big profit for some countries.

[blockdragon]

as far as I know lots of governments don`t make it illegal but do not legalize it which is a different thing. So they make the possible payments through it but not guarantee it as a currency.

[Walter789]

I think the reason why other countries government illegalizing bitcoin because they are afraid to the bitcoin or cryptocurrencies power. Since government's are founded by one main power as a centralized they are probably scared that the new form of decentralizing the economic development are through the blockchain technology. So maybe government didn't like this kind of revolutionary movements of mankind that's why they control the virtual world by not allowing this modernization in our new generation.

[chrisnewsome]

I think that Bitcoin and other kinds of cryptocurrency destabilize the current currency of the government. I think it will be a ticking bomb to the government if the cryptocurrency continue to exist.

[SamanthaPhillips]

Due to the decentralized nature of BTC of which fiat currency is an exception, they want to boy court it. It has a greater future and some of the reason they are rejecting it is that, they won't get anything from it when BTC is accepted to be legal and that's why they are fighting against it in some countries.

[horaceN]

Probably because there is no guarantee for the Bitcoin virtual currency, the Bitcoin value is speculative, the user is at risk of loss when the Bitcoin price suddenly changes.

[PeachPam]

From my point of view, because government doesn't receive any benefit from bitcoin and they also can not control it

[giantrobot]

Because of its decentralized capabilities, Bitcoin is a boon for online transactions. However, the government does not like it because it makes it impossible for them to manage the transactions. In addition, the transaction can completely switch to Bitcoin transactions, only a small fee, not tax as much as the traditional transaction.
Also, Bitcoin hides the criminals so the government also does not like this.

[valisa]

I think bitcoin really helps a country as a payment that can replace the function of money, indeed most countries in the world say bitcoin is illegal and only a few are bitcoin, whereas in my opinion bitcoin provides many benefits and convenience for bitcoin users

[Finatu]

Not all country are against to bitcoin or announce it's illegal. Because they have other country who are supporting bitcoin.
Bitcoin yes is use to illegal transaction and scamming but it's not bitcoin they use only bitcoin and bitcoin is legit. I hope before they release some news or anything against bitcoin they need to know the other side.

Some countries state that bitcoin is illegal to use in their country. But for investment, who can ban? Because everything happens on the internet that cannot be controlled by the government. So let countries that have legalized bitcoin to show all countries in the world the advantages of bitcoin as a digital currency. Don't just see the bad side of bitcoin, because in life there is always a good side and a bad side.

[cafee_orange]

Bitcoin is a future asset goods that can be used as a means of payment, not all countries consider Bitcoin is illegal, there are some who even acknowledge the existence of the country bitcoin. perhaps because the prices were so fluctuations Bitcoin, so some countries fear to legalize Bitcoin

[zubrr51]

Most likely, they are thus insuring themselves against the unknown consequences of taking Bitcoin as a payment facility.

[peterstark]

I think it's not everywhere, only single countries like for instance Bolivia and Ecuador, and some others. I guess they fear that they cannot control whether somebody did pay enough taxes, as an example.

[jhonvir666]

most countries say that a Bitcoin is illegal because it does not cover any government control. the Government can not control Bitcoin transactions because it has its own regulation .So to stop or we can say that to avoid a Bitcoin delusion, should not believe in what others say, we should believe we are all intent on attracting a bitcoin because people will really find that way as a way to decide whether it is illegal to deal with it.

[XeBaass]

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.

[Hitesh shaveta ohri]

In my opinion, Bitcoin or Cryptocurrencies are private type of currencies. Government also consider that no one can control them. So  government announce bitcoin is illegal but hopefully they will also consider their applications and benefits and think  upon their decision. 

[Ty_ways]

I am not sure that the announcement  was made in all countries about bitcoin  been illegal.  The issue  I think governments  have against  bitcoin is more about regulatory  issues and the fact the some people are using it to carry out  illegal activities  and it's can't be traced back to anyone

[Flor1982]

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

You did not research well before you ask for opinion about the world legality status of Bitcoin in which you generalize that all countries are declared Bitcoin is illegal. You never know that USA, JAPAN and GERMANY are the most known countries that legalize it and used it in spending. Some government don't support it because they afraid of might use it in crime but they are very few compared to the supporting countries.