Topic: why do governments don't make BTC illegal worldwide ? - page 22. (Read 8116 times)
I think that many governments and banks have changed their attitude towards Bitcoin. They found out how they can use bitkoyn, and they perfectly understand that it is impossible to make it illegal.
Governments make money from tax
Most of the allegations governments hold against Bitcoin is that Bitcoin is used to fund terrorism and also involved in money laundering. These are all due to the anonymity issues attached with Bitcoin. Most governments are likely or ready to work or accept bitcoin if its users are ready to give their true identity for verification purposes through KYC.
Reason is simple, when our government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire planet!
Too hard, I think all they can do is forbid exchanges or heavily regulate them.
But then we will see even more decentralized exchanges popping up to, in turn, combat that again.
But then we will see even more decentralized exchanges popping up to, in turn, combat that again.
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 ?
I personally do not think that bitcoin is a real threat to banks , as a financial management student I know banks and bitcoin is different in many ways, bank are used to store money , it offers a high security for money with a very low interest rate because of that security I was talking about while bitcoin is in a form of high risk investment , I do not think it will affect bank because all people needs bank as same as investment , we can not put all of our money in investment because it will be a disaster if the investment where you putted your money incur loss or a huge loss.
according to me, because in every country has its own policy. have regulations that are not the same as other countries. some agree with being able to accept bitcoin. and some also disagree. I think this is a natural thing.
1. It's difficult to implement a ban.
2. Do not want to be left out if there's a crypto tech boom.
3. Do not want to be unpopular.
4. They do not understand what it is.
5. Bitcoin is still an experiment at present.
2. Do not want to be left out if there's a crypto tech boom.
3. Do not want to be unpopular.
4. They do not understand what it is.
5. Bitcoin is still an experiment at present.
No government doesn't like money and the cryptocurrency industry is worth billions (or even trillions). I too personally doesn't see what are the advantage of making Bitcoin illegal worldwide but I do agree that regulations should be in place to a certain extend.
I feel that the majority of countries in the world do not see bitcoin as a threat, but instead they see it as something revolutionary.
Making illegal bitcoins is not something they want to make. Most countries do not see the danger in bitcoin. The problem with government and bitcoin is the government's inability to regulate bitcoin as they see fit, which is why bitcoin is always a threat to them. I believe in the near future the way will be taken to set the bitcoin and not declare it illegal
Making illegal bitcoins is not something they want to make. Most countries do not see the danger in bitcoin. The problem with government and bitcoin is the government's inability to regulate bitcoin as they see fit, which is why bitcoin is always a threat to them. I believe in the near future the way will be taken to set the bitcoin and not declare it illegal
Well they are trying to cash in the big money but are waiting for the regulations si that they can manipulate the market according to their needs.
They have the right to ban it anytime they wishes but they might be thinking of the reaction of the users as many who already invested will loose big time.. They too might also be planning to make it legal who knows government plan....
Many things can not be banned once and for all. There are always loopholes. Therefore, prohibiting bitcoin is illogical and it takes time to find an effective solution to this "problem"
there are still so many people who resist bitcoin, and many still do not know how to use it. well, there are so many benefits from bitcoin, but still so many people are not aware of it. I also wait for bitcoin to be received worldwide. 
Many things can not be banned once and for all. There are always loopholes. Therefore, prohibiting bitcoin is illogical and it takes time to find an effective solution to this "problem"
Because they see its the future of cryptocurrency and digital currency which will be use by many in the future, they can also legalized it in future to serve as payment ...
For me the answear which would seem logic is this: Every particular country are having their own government which can be not agreeing with the neighbour country. So they cannot just develop a worldwide United decision.
yes that is right, every government have to rule over their own country and are not to rule over all the world. i think that they are even not going to consider bitcoin illegal, because now they know about the importance of bitcoin, and on other side japan and some other countries have turned bitcoin a legal currency therefore i think that they may be also thinking about to take some good decision in favour of bitcoin.
Its not gonna be easy for them to declare it illegal because they also see thr benefits of the technology and know its decentralized which is not easy to control by them.
I think they still consider possible situations. It's still a developing market and a possible volume to grow. They want to observe their development and decide where they will be in this market. Early banning could cause too much loss in the coming years. So they don't want to miss the opportunity.
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 ?
You answered your own question. It untraceable and autonomous. A government is not a monarchy where one man's decision has to be followed by the rest of the nation. Even some entities in the government look at Bitcoin as positive rather than a negative because of the untraceable and autonomous feature. There are countries where the government provides subsidies to people are not exactly super friendly with banks like in the US where the government bails out banks with tax payers money. Another factor is by legally taxing Bitcoin the country is adding another stream of revenue to its coffers. Who cares if the bank goes to hell while the country still makes revenue and is able to run with out the help of the banks. Yes tracking will be hard but if exchanges are pinched to follow regulations then every citizen has no choice but to pay tax. BY regulating Crypto Governments have a better chance at keeping control over the population than losing financial control. Its a win-win situation.
For me the answear which would seem logic is this: Every particular country are having their own government which can be not agreeing with the neighbour country. So they cannot just develop a worldwide United decision.
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