Why is Bitcoin not a legit currency?

[Domithra]

Bitcoin isn't a legit currency as of now because it is required by the Bureau of Engraving and Printing (BEP) and other authoritative bodies and governments to come to terms with the operations of Bitcoin. Here is the case, the real positive concept and significance of Bitcoin is not fully understood  by these bodies in order to legalize it.

[Davidniam55]

because the bitcoin shape is still digital and still many people do not know the bitcoin world gan. therefore bitcoin is still considered a digital currency that has not been sh and recognized by certain countries.

[sugarchrisp]

The price is too volatile to be used as a currency honestly, how the hell do you expect retailers to deal with the price fluctuating ~$500-$1000 over the course of a day?  Sorry sir you can't afford these apples because your bitcoin is worth less than it was earlier today.  I guess it could be treated like gas prices that seem to get locked in for the day, but it'd be a huge hassle for most stores to deal with.  A more stable cryptocurrency will probably be developed eventually to be used as a currency, and bitcoin will remain as a store of value.

[CryptoZenWorld]

The price is too volatile to be used as a currency honestly, how the hell do you expect retailers to deal with the price fluctuating ~$500-$1000 over the course of a day?  Sorry sir you can't afford these apples because your bitcoin is worth less than it was earlier today.  I guess it could be treated like gas prices that seem to get locked in for the day, but it'd be a huge hassle for most stores to deal with.  A more stable cryptocurrency will probably be developed eventually to be used as a currency, and bitcoin will remain as a store of value.

yes, you are right mate. I agree with you. Until it becomes stable nothing good is possible by bitcoin without trading and getting some profit from it.

[Cangkirkopi]

Why is Bitcoin not a legit currency? Bitcoin is not a legitimate currency because in this world the country is different2 if bitcoin is made into a legitimate currency later its name is not digital commerce but the exchange of money between countries so not exciting and uninteresting

[Najma zahra505]

I think instead the bitcoin instead of the legitimate currency but not yet fully in the state by the state because the cause is still no cash .

[Judybrown]

The digital currency involves a lot of technicalities and unless the government and those in higher authority understand and accept it, it will not be an accepted currency worldwide.

[Neechan]

It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. That lack of central authority is the primary reason governments are afraid of the cryptocurrency.

[Jaguar]

Because bitcoin is decentralized that might not be centralize by just legalizing purpose to call it legit currency.

[cryptocancer85]

Bitcoin right now isn't yet a legit currency for those people who haven't yet understand the proper ways on how cryptocurrency works in every lives. However it definitely recognized by most cryptocurrency traders as legit, but only for those who had exact idea and knowledge with the entire digital currency system.

[Mlhits1405]

Thats true its not legit to those who are not know about it and there are some country are not accepted it thats why they called not legit but for those who are more open minded  about bitcoin its pretty much legit because they know what is the relevants of bitcois to thier life.

[Najma zahra]

bitcoin is not legitimate because, there is still cash that is in use, what else currency in gital has not made the rules or laws in the country so not yet 100% valid, but already allowed, yes we wait aja 5 years forward will surely be endorsed entirely .

[Baby Crypto]

bitcoin is not legitimate because, there is still cash that is in use, what else currency in gital has not made the rules or laws in the country so not yet 100% valid, but already allowed, yes we wait aja 5 years forward will surely be endorsed entirely .

Yes I agree mate, because there is still cash and the goverment keep fiat money, but I believe Inthe future , crypto currency will dominate.

[Guerreiro]

I believe the very reason of this is because of the volatile and the business competition in the real world. Also bitcoin is created for decentralized purpose and seems that it is creating a deflation in the market which is many will never give favor to this.

[therozaq]

Bitcoin isn't a legit currency as of now because it is required by the Bureau of Engraving and Printing (BEP) and other authoritative bodies and governments to come to terms with the operations of Bitcoin. Here is the case, the real positive concept and significance of Bitcoin is not fully understood  by these bodies in order to legalize it.

Yes, It is not legitimate, Because The goverment cannt controll bitcoin over.