why do governments don't make BTC illegal worldwide ? - page 18.

Marlo Stanfield

sr. member

Activity: 490

Merit: 280

Quote from: spadaccino on July 15, 2018, 03:18:05 AM

Because they CANNOT ! Simple as that!
It's decentralised so nobody can stop unless as I think they are buying as much as they can so they in some way can control and regulate in right time without telling worldwide.

It's a great opportunity for shark and whales to enter right now..

They can do a lot just by words alone. If they can affect the market enough that's all it takes. If people sell off due to actions by governments, it doesn't even get to the point where it becomes a technical issue of whether or not they can stop it that way. It's an economic attack.

teamspike911

newbie

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Quite a strange question. It is necessary to look at what problems this can bring to the government. And this is obvious ... bitcoin and crypto-currencies in general are a huge threat to the modern financial system. Bitcoin in a difference from the dollar can not be controlled ... dicentralization. And the state is extremely unprofitable

popelene1

newbie

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It will not be easy for them to make it illegal because Crypto currency generally is decentralized which means its very hard to be control except they only want to set a rules.

Daday23

newbie

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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 ?

Because once they legalized bitcoin it will become demand to many people and they cannot control it.They cant get benefit from the crypto community.

a.kaetana

member

Activity: 128

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Gov's already showed their professionalism in war against drugs, Judging by gossips they try to be more subtle with crypto. "If you can't defeat it, lead it", you know. Plus bitcoin has it's advantages for intelligence services.

Tashi

full member

Activity: 391

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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

maxti

member

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Merit: 10

Goverments can't technically eliminate Bitcoin, but they can probably force it to be a currency that in polite company marks you as a criminal

Gaurav11kb

newbie

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No govt can make it illegal as it is decentralised. Govt of any country can ban the trading with crypto if they think it is a threat to their economy but sooner or later all countries will accept crypto

Dangdingdongbray

newbie

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There are many factors that affect it,Due to different problems or different reasons of each government agency in the world.Yes indeed there are some institutions that have common thoughts and principles that are approved by each government or country.But in these modern times,these agencies only regulate the lands and oceans of each country.Yes we do the World Bank who somehow has the power to regulate the world's cash flow. But in the case of bitcoin,there is no government joint agency that regulates bitcoin flow.

mazesta

newbie

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Maybe they (the government) are afraid of bitcoin being abused, they are afraid bitcoin is used for money laundering as a result of corruption. perhaps that's why many countries have not legalized Bitcoin.

spadaccino

jr. member

Activity: 183

Merit: 2

Because they CANNOT ! Simple as that!
It's decentralised so nobody can stop unless as I think they are buying as much as they can so they in some way can control and regulate in right time without telling worldwide.

It's a great opportunity for shark and whales to enter right now..

dilshanfernando

member

Activity: 350

Merit: 10

It is currently exceptionally troublesome for governments to forbid the utilization of digital currency to their subjects. From one viewpoint, a popularity based government must consider the perspectives of its residents, and as occasions in a few nations have appeared, they are exceptionally dynamic in shielding their entitlement to utilize it. Then again, it is troublesome even to do it absolutely from a useful perspective. Issue a request, proclaim, the law on this preclusion is conceivable, however it is difficult to check its usage. This administration will just drive the utilization of cryptographic money into the shadows. Thusly, it is constantly better for him to take measures to manage the cryptographic money and introduce at the same time imposes on the digital currency.

Fuhre

full member

Activity: 644

Merit: 107

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 ?

that's right, cryptography is a threat to state government. threatening the country's economy. I am not sure this is a threat to the economy of the country. which certainly the level of corruption can be prevented. they just need to make it happen but for some reason they are still strictly forbid the use of bitcoin or other altcoin.

florianuhlemann

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Merit: 100

I think that these two institutions - cryptography and the government - should cooperate with each other, because this will lead to even greater growth and openness of all users

jayanath123

newbie

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i hope government and banks change there attitudes.so more improvement to will be develop

mudra102

full member

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Merit: 100

if the Government of any country is not satisfied that he is just making a ban in their country just started using bitcoin between countries and has no authority to ban Bitcoin around the world. Again every Government has no authority to impose a bitcoin ban around the world

RiskySanchez

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Quote from: denzkilim on July 15, 2018, 01:16:34 AM

Quote from: josephpogi on July 12, 2018, 03:03:23 AM

Quote from: lentzaj on September 21, 2017, 09:55:10 AM

Quote from: RodeoX on September 15, 2017, 11:34:20 AM

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Bitcoin became a risk when greedy people think that this decentralized virtual currency can be a medium or means of investment and made it to reality. The sole purpose of Bitcoin is to simplify our payment and monetary system to make lives easier but look at Bitcoin today it become an asset more than a currency what is supposed to be.

Some governments are very optimistic even they know that Bitcoin or other forms of crypto currencies are too risky and its value is very volatile they still believe that this technology will surpass its downside in the future when the majority of the countries implement rules and regulations on crypto currencies. But some government see it as a threat and fear that the money of their citizens is at risk of being stolen that's why they are banning the usage and possession of crypto currencies in their country.

and this is the answer of some countries that legalize and which is not https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory, many problems and politics faced by every country to Bitcoin especially in terms of economic regulation and consider bitcoin as private money

cryptoalfs76

full member

Activity: 406

Merit: 100

▰▰▰ MODULE ▰▰

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 ?

Mostly the real reason why should the government,can't declare bitcoins illegaly to operate worldwide,because they know the main purpose of cryptocurrency then why should its been created is to cultivate economic growth and promote social responsibility globally and not to create havoc or some illegal activities in the worldwide market,as just what like other thinking of cryptocurrency investment.while in other hands crypto is not a threat to the banks,instead its will help collaborate in banks to promote the world currency monetary fund.

denzkilim

full member

Activity: 1218

Merit: 105

Quote from: josephpogi on July 12, 2018, 03:03:23 AM

Quote from: lentzaj on September 21, 2017, 09:55:10 AM

Quote from: RodeoX on September 15, 2017, 11:34:20 AM

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Bitcoin became a risk when greedy people think that this decentralized virtual currency can be a medium or means of investment and made it to reality. The sole purpose of Bitcoin is to simplify our payment and monetary system to make lives easier but look at Bitcoin today it become an asset more than a currency what is supposed to be.

Some governments are very optimistic even they know that Bitcoin or other forms of crypto currencies are too risky and its value is very volatile they still believe that this technology will surpass its downside in the future when the majority of the countries implement rules and regulations on crypto currencies. But some government see it as a threat and fear that the money of their citizens is at risk of being stolen that's why they are banning the usage and possession of crypto currencies in their country.

Baronggot

full member

Activity: 434

Merit: 100

That is because not all countries around the world are in favor of shutting their doors for bitcoin. While others are closing the doors, others are also letting bitcoin in because they know this technology can be of big help in the economic progress of their country.

Topic: why do governments don't make BTC illegal worldwide ? - page 18. (Read 8117 times)