why do governments don't make BTC illegal worldwide ? - page 17.

bitcoin2048

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Quote from: lentzaj on August 29, 2017, 01:37:34 PM

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 ?

Again it is because there is no such a global United worldwide government that can choose for every country what to do, so every country need to make there own research and decisions about cryptocurrencies attitude.

laryillary

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Moreover, there is no law in the legislation that would oblige residents and non-residents to provide information on currency transactions to currency control bodies. But at the same time, tax authorities have the right to receive such information if it is a matter of monitoring compliance with currency legislation. Rosfinmonitoring can transfer information to the Federal Tax Service about financial schemes that have signs that they are evading tax payments.

yamete kudasai

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Quote from: lentzaj on August 29, 2017, 01:37:34 PM

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 ?

Not everyone in the politics thinks like this. Take Japan and South Korea for example. These countries and their government is pursuing the indistry of cryptocurrency. European countries also looks a bright potential to this innovation because there's a market for it and can give them economical power online. The world market and many business sectors are now taking interest in this field and I can see a grear future ahead for bitcoin.

oni4an

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It is the invisibility and scares the governments of many countries, and the fact that Bitcoin is too young and they may not have fully figured it out. I think they don't understand how Bitcoin can be controlled, so they're afraid.

calumbautista23

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Governments sees that there is money in bitcoin. They are trying to adopt it still so they can maybe find a way to make money out of it for sure.

ballerin and giroud

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Quote from: teterinal on July 18, 2018, 05:40:29 AM

That's because the government is trying to control it in anyway possible. There are so much money in bitcoin that government will try to get it.

It is fair to do by the government, they take care of a country not only to regulate the lives of its people but they must regulate all the existing economies of the country. Regarding bitcoins and crypto currencies that have decentralized systems it is hard for them to become third parties in every use of crypto currency. This is generally done by some developing countries that still have an unstable economy of several sectors.

jennygamilo

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Its because government don't have the power to manage and control bitcoin that's why they don't make it legalized in their countries.

meidut

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concerns arise about the possibility of Bitcoin being used by criminals because of its nature which can be spent on personal payments and can not be undone. However, this opportunity is already there with cash and bank transfer, which has been used for a long time. The use of Bitcoin will certainly follow the same rules that already exist in the current financial system, and Bitcoin will not hamper ongoing criminal investigations. In general, new breakthroughs are usually considered controversial before benefits are fully understood by the public. The internet is a great case example to illustrate this point.

jaaeeeyyyy

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Quote from: Tashi on July 15, 2018, 07:27:14 AM

Governments have different perspectives when it comes to Bitcoin. For them it may be a threat for their national currency or an advantage for economic growth for their country

Yes, we do have different government that governs us on each country. Some government cannot see the significance of bitcoin if being legalize and used on their country because of the decentralization matters where bitcoin lies. As for our government, they limit and monitor the movement of cryptocurrency because you're right somehow they see it as a threat to physical economy.

hknknitin

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Making Bitcoins illegal would be like opting out from something which is certainly going to become an essential part of our daily lives in the near future.Like the internet evolved,the first decentralized network,Bitcoin is the next big thing whether one accepts or not.Banning by any government would lead to the price drop of Bitcoin but it will tempt the people already trading with it to move to some other place as they have come across the advantages and security level of it.But if a government bans cryptocurrencies, it doesn't take a lot to do trade because of the internet so complete banning would require ban on internet also to some level.

teterinal

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That's because the government is trying to control it in anyway possible. There are so much money in bitcoin that government will try to get it.

jhonvir666

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I do not know, how we can try it, bitcoin is a great technology for all and all the nations. even if the work of the world is reduced. but for other people, maybe the bitcoin can only be a test of raising the number of illegal transactions. so maybe there are other possible causes for a bitcoin because it is not yet legal enough.

Sakaba927

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because there is a government that thinks crypto is beneficial, so there is a government that legalize bitcoin and utilize it for government to gain profit Cry

popelene1

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Its not easy for them to make what we said its decentralized to be illegal world wide, they already know they have no power against it, more reason they want to regulate.

pakhitheboss

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Top Crypto Casino

it is not possible for any goverment to completely make Bitcoin illegal. They can regulate it but that to on a certain extent, There are two reason behinf it
1. it si decentralized.
2. Virtual currency.
it is practically not possibke for any goverment to find out who hodl and trades Bitcoin until it is being converted to fiat.
The only option is to regulated the local exchanges and add taxes. Still I think it is hard to stop.

MetalGear

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Quote from: BigBos on August 30, 2017, 10:15:14 PM

may, in each country have their own laws. some countries, see bitcoin as a very good technology, and can be developed. but, some countries also see bitcoin as a threat. maybe they are seeing the negative side of bitcoin. but, bitcoin is so sophisticated technology, so it will not be illegal around the world.

Yes, every country have there own law and my country are accepted bitcoin cause they know bitcoin is a big help for us and they saw the opportunity of bitcoin to help our economy become better and I know that some country they can't accepted bitcoin maybe they heard negative news in bitcoin we cannot blame there maybe they protect there people. I never lose hope maybe one day they can accept bitcoin for there people future become successful.

honey7

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Bitcoin cannot be made illegal in any form. Initially there were several discussion and debates within the govt regarding the same. However with the growing trend they also started to know its importance.

Dmitry.Vastov

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Quote from: lentzaj on August 29, 2017, 01:37:34 PM

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 don’t think that there is nothing in bitcoin that government should decide it illegal world wide and at just once ask those countries who has legalised it, they are experiencing a great boost in the development of their nation and a very high jump in the GDP also so no doubt that who has understood the potential of bitcoin will going to love it and will become its fan and what I know is that those who are criticising bitcoin right now are going to repent in the future when bitcoin will be declared as a central currency world wide.

abokhalel2

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But why are you so worried about this? i am more than happy in that it is not ilegal in my country, and i would not like to see it becoming an ilegal asset in here, otherwise, i would move from this country in less than a few months from now

suse100

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The government is having a hard time tracing bitcoin because it is untraceable. The government will certainly not allow its citizens to use Bitcoin or Cryptocurrency because Bitcoin will threaten the existence of Bank Central.

Topic: why do governments don't make BTC illegal worldwide ? - page 17. (Read 8116 times)