Topic: why do governments don't make BTC illegal worldwide ? (Read 8098 times)
I think, the government does not endorse bitcoin. Like the price, impact, and other shortcomings of bitcoin. how the government can legalize bitcoin if the government itself cannot control bitcoin. maybe if the government can control bitcoin, bitcoin will be legal because with the government can directly monitor all things about bitcoin. They must be able to realize that the increasing public interest they can use to take part of profits. I think it's only a matter of time for cryptocurrency to be accepted in various countries. But even then I think the physical money we use will not die for the next few decades .
In my opinion, why governments around the world do not endorse the digital currency of Bitcoin for now because the government does not want their paper currency to be replaced by Bitcoin. because Bitcoin has value in the form of USD, this causes Bitcoin to be exchanged for ordinary banknotes. but the government is currently researching bitcoin technology, the Blockchain. this is a good signal for bitcoin if the government currently has tried blockchain technology.
they do not do it because the adoption will speed up faster and they do not combine them and they know that they can not totally prohibit it because all the people would throw themselves into that platform and it would be unstoppable. The banks still cover a lot of space in the world bitcoin does not even have 2% of the money that banks have that still has a long way to go when you have even 5% of what people invest in shares in the stock market of the world bitcoin will be super powerful worldwide a few years for that to happen could start mass adoption for 2020
I think bitkoyn will not soon represent a real threat to the banking system and, accordingly. government. While it complements, it performs functions not available to the Fiat.
yes it's a nightmare but we see that bitcoin needs to be bought through the exchanger and thereby we give the opportunity to the state to monitor all our payments
To say that bitcoin is a threat to the banking system means to be completely uninformed about what is happening in the world. This is not true.
My take on this is that, yes, governments and banks were obviously not friendly to Bitcoin because its very existence may hinder their hidden agendas. But Bitcoin helps people and all eyes are on it so why not just regulate it instead of ban it. Regulate it would be the win-win solution for everyone, they can get taxes and fees from it, Bitcoin can operate freely plus the confidence and trust of the people will be gained.
I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !
BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
Yea!! I also wonder about it. Banking system has a great threat from blockchain, as blockchain is completely decentralised whereas banking system is completely centralised. Moreover public sector banks provide a great revenue to the govt of the respective country. This might be because of some countries who think that use of blockchain technology and using crypto can improve their economy.
I believe this is on the grounds that administration needs to control and screen all the cash that is put into bitcoin. When all is said in done, government cherishes to control all the cash being execute in her nation. A boycott of bitcoin would make individuals dissent.
My opinion this is going on because government in the whole world is not a unite organism, so they cannot make something legal or illegal all worldwidely, Some countries would have the other option.
I think the government cannot really make bitcoin illegal in the world because its currency is decentralized, the government cannot control it like banks and other financial institutions. Maybe in the future, bitcoin will be legally accepted, hoping for a better nationand social interference with the bitcoin economy.
Well, many people think that the crypto is a threat for bank system. But i think, making btc illegal is not a smart solution. They can’t make it illegal worldwide.
Because some governments see cryptocurrency as an alternative to the world's major currencies, such as the dollar and the Euro. Thus, they are insured against the financial crisis.
There are so many people saying about people many people believe in bitcoin and many people also spread scams that bitcoin is not yet legal worldwide around the world.
I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !
BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
I do despite all bad things that goverments fear from cryptocurrency, i believe there is several point that makes cryptocurrency is a good things and considered as developments of fintech.BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
I think they're just afraid of him. Of course, because the blockchain can bring down the entire world banking monopoly.
yes or they can use it to make banking system stronger and i think they will use it eventually.
Simply because bitcoin is decentralized and with that governments and banks cannot control it or manipulate it. Hence if they no authority to control they have no gain or profit on bitcoin. Lately there are some changes on how government treats bitcoin nowadays, some countries already accepted it into their economies which a really a good news to all. It can attract more investors and stabilize the market's price and gives other countries an open mind to accept and embrace bitcoin as well.
Since the bitcoin price can't be handled by governs I don't think they will gonna legalize bitcoins even if their support passively.
I believe the governments keep Bitcoin legal because it is the governments that brought this to us. It's the perfect tax weapon to use against us all once our name is connected to our public wallet address.
Governments do not make bitcoin illegal worldwide because they are planning on how to deal with it and make profit out of it in the form of tax. These governments have the hopes that one day they will take over the control of crypto currency. They are making efforts just like us users to be mutually benefited by bitcoin or much more than we could have, its all about the greed that make them do that.
Because people perceive things differently, when one person deems bitcoin to be fraudulent and a threat, another sees it as a reliable means of payment and a profitable investing instrument, and the governments of each country does the same.
As the world has just started to understand what bitcoin truly is and the benefits it comes with, those perception varies greatly. Conservative countries find it a threat while innovative ones find a good use for it.
The good thing right now is that we are seeing lots of countries interested in the technology it packs with and is looking forward to take advantage of the blockchain as early as now. And as long as that interest in the blockchain lives, we are certain that bitcoin will continue to thrive and move forward.
We might not see government backing in the near future, but a lot of what's happening right now might eventually end us up that path.
That is right, the people that we have in this world have different type of dreams and plans and also strategy to reach their goals in life and that is why the governments are not having an agreement to just ban the bitcoin and make it illegal worldwide because they have different perspective and beliefs in technology. As the world has just started to understand what bitcoin truly is and the benefits it comes with, those perception varies greatly. Conservative countries find it a threat while innovative ones find a good use for it.
The good thing right now is that we are seeing lots of countries interested in the technology it packs with and is looking forward to take advantage of the blockchain as early as now. And as long as that interest in the blockchain lives, we are certain that bitcoin will continue to thrive and move forward.
We might not see government backing in the near future, but a lot of what's happening right now might eventually end us up that path.
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