Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: princessgirl on September 25, 2018, 03:16:12 AM
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Governments announces Bitcoin as illegal because of the anonymity feature of Bitcoin which makes it very difficult to track the persons behind a particular transaction. Because of this, the governments claim Bitcoin is involved in illegal activities such as drug trafficking, money laundering etc.
Do you think there is an ulterior motive to this claims of the government?
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I think the reason why the Government is doing so because the Government considers the bitcoin itself what if applied in his country with all conditions of its citizens. given that bitcoin is both volatile and decentralized so that the Government can not control and may be from the Government there is no element of profit to come back again on the development of his country.
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In addition to being prone to illegal activities, bitcoin is also considered a fraud and unsafe scheme. Besides that, Bitcoin is also prohibited because it is alleged to avoid corporate taxes.
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I think definitely yes, because the entire banking system of credit will collapse. And you have to rebuild the entire system from and to. No matter how it might sound - but it's a fact. And many more reasons that can not be called in the ear. 8)
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Governments announces Bitcoin as illegal because of the anonymity feature of Bitcoin which makes it very difficult to track the persons behind a particular transaction. Because of this, the governments claim Bitcoin is involved in illegal activities such as drug trafficking, money laundering etc.
Do you think there is an ulterior motive to this claims of the government?
The reason why government announcing bitcoin illegal, because the government keep their national currency and cannot controll bitcoin over.
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in my opinion, the most important thing is that they (the government) can lose control of the wealth owned by someone, they cannot collect taxes, as they automatically deduct your balance at the bank for paying taxes.
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We don't know what the reasons exactly. Every country around the world has their own regulation and capability to legalize bitcoin. Some of them are questioning about the advantages and the value of bitcoin. They don't really know about them and worry for the negative impacts of bitcoin. Many issues told that it was used for criminal purposes even there was no much evidence. And unfortunately for some countries that have no adequate technology to support activities in cryptocurrency.
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Well government has realize the potentials and capabilities of BTC and have noticed that if bTC is not sabotage now they are really going cause a lot of problems to the traditional currencies in the nearby future. Therefore they are trying any means to scare people from BTC.
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in my opinion the reason why the government announced that bitcoin was illegal was because the government could lose control of the wealth held by someone because the government could not collect taxes. because they automatically reduce your balance in banks to pay taxes and the government can't control bitcoin