Post
Topic
Board Bitcoin Discussion
Re: Why Bitcoin isn't a legit currency.
by
sulec70
on 13/06/2018, 05:43:21 UTC
Bitcoins is not yet a legal currency cause not all countries, world bodies have accepted or recognise it. You wrote so much and how come you fail to understand that this coin cannot be controlled by anyone, no one can manipulate it and most of all governments cannot find out who owns it or make you pay taxes. There is a huge hassle process and it's expensive to track it, make a whole set of laws. You get the point don't you.
The main reason why btc is not legal currency because it is not ussued and regulated by the central bank like fiat money.No one can control it and its price is so volatile. Also no intrinsic value to support its value.Price is not stable and very risky ti be used as medium.of exchange and store of value.