why do governments don't make BTC illegal worldwide ? - page 23.

Suguha

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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 ?

For me because they don't have any control on bitcoin, they do not have any idea what bitcoin is or they do not think that bitcoin can beat them, theybare confident that bitcoin do not have any factors that can help them or maybe beacuse they think thtt bitcoin is a threat to the safety ofntheir people and threat to the money that their people invest in bitcoin.

Harah

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Bitcoin is complicated, but the system works a little something like this. Each Bitcoin maintains a single, public record of past and current ownership.
Another benefit of this lack of central control is that the government can't block you from giving out Bitcoins

Giftedcrypt

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I think government don't want Bitcoin because they want what to regulate and possibly tax Crypto currency,and its not possible.but believe,they will soon adopt it,

BestW1shes

newbie

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Because they can not control Bitcoin

Gummybear67

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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 think the reason why bank systen don't make Bitcoin illegal is that, they dont see Bitcoin as their competition. They're confident that bitcoin wil never beat the National's physical money. Or maybe banks are also gaining from it. We really don't know.

Arafat01775

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I think govt is afraid about crypto currency. They might think if it goes away! Again they might btc price is not stable. Maybe think of this governments don't make btc illegal worldwide.

mary cury

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People will invest a lot on btc and it will affect bank income

jeihjeih

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Thing is, many governments are wait and see too. They don’t want to miss out on the next big tech revolution as well

penguincomel

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In my opinion, why governments make illegal bitcoins is because they believe that bitcoin is an unreliable investment. In addition, they also consider the bitcoin that causes the bank to fall or be called bankrupt.Likely, the government also does not want high-educated people to become unemployed who only expect bitcoin investment

Mersterious

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Besides the government fears bitcoin that it may disrupt the current known monetary system

MrPresidentIM

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I don't believe it's technically possible. Besides that, I guess some governments are interested in transparency and control and, ironically, blockchain and btc are a part of technology that might potentially make the global economy more transparent, IMHO.

jeihjeih

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Governments have little to gain from an open policy on Bitcoin

Dukjila

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The European Parliament, in its report on the Cryptocurrency, recommended not to interfere with the treatment of the crypto, I think the next step will be the legalization of the most popular, this is of course Bitcoin.

But recently in Europe, the reputation of Bitcoin has been greatly shaken by the arrests of drug dealers, who have almost the largest quantities of drugs and 20 million in the cryptocurrency.

Given this fact, the Parliament can postpone legalization for a long period of time, it's a pity.

vakie1

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Ok I admit that governemnts wont be able to definitely stop BTC by making it illegal. But if a few big countries decide to make it illegal it will become difficult to make it mainstream because less people will dare to use it, to build businesses on it. Making it illegal will be a real break on the BTC adoption. It will remain a geek niche stuff that won't go to te moon ! Also, look what happened after China's decision to temporarily make ICO illegal ! As bad as it sounds governments are able to deeply influence BTC and crypto market ! Don't you agree with this ?

warwar

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Quote from: Alan Carey on July 05, 2018, 04:57:14 AM

Governments can ban anything within their borders. If so, you wouldn't be able to legally transact using bitcoins without some penalty if you get caught. Perhaps there are dark markets where you wouldn't be caught, but this would severely limit Bitcoin adoption within that country.

Agree only those government can only ban bitcoin.within their borders . There are country that is banning bitcoin because of its gambling activities because they are using it to gamble and I think.it is a sore to them and.other also using using it in.deepweb markets though it is not possible to ban bitcoin all over the worl because there are few country that they legalizing bitcoin.in their country

Alan Carey

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Governments can ban anything within their borders. If so, you wouldn't be able to legally transact using bitcoins without some penalty if you get caught. Perhaps there are dark markets where you wouldn't be caught, but this would severely limit Bitcoin adoption within that country.

crossabdd

legendary

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so bitcoin needs a regulation. to break threats against the government and banks. in fact all can run normally and not a threat. Bitcoin and blockchain technology are large ledger sheets containing transaction records that can not be deleted or changed. what if the bank uses a blockchain system. I think it will not be any money laundering or fake transactions. because all transactions can be tracked.

sultansulaiman10

newbie

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the answer you put right, but I think why the government in the country legalize bitcoin and what is otherwise, most likely there is a positive side that can be taken by the government from the bitcoin legality in the country, one of them is profit or income from the tax sector with legality the bitcoin project will be subject to a tax, and it is very possible to help the economy in his country.

denzkilim

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Quote from: geegaw on July 03, 2018, 10:30:59 AM

Quote from: iMark on July 03, 2018, 07:17:43 AM

Quote from: wengden on June 30, 2018, 05:10:51 AM

As what I have heard,Some of the government is also linked to the Bitcoin. And most of the government officials are using already BTc. That is the reason why it is still legal. Hehe just my thought.

Yeah, that's possible, because we know that the total number of bitcoin users now reaches tens of millions of users, in my own country the user reaches 1 million users, of course with that number there may be government employees who also use bitcoin and fight for the legality of bitcoin

The explanation is probably reasonable, many people in government agencies are also involved in this world, they will not let bitcoin become illegal, that makes them unable to make a profit, sometimes they will get into trouble with the law, so they are always against the laws that say bitcoin is illegal. Next reason, I think the government always receives a great deal of pressure from the various social forces, it can be the big boss, people who have an influence on the economy and society, if the government does not satisfy them, the government will be very tired when faced with the anger of these people

The main reason why the governments in most of the countries in this world won't make Bitcoin and crypto currencies illegal is because they know that this kind of technology has a huge potential on the financial market. Yes, it is not impossible that some of the government officials are involve in this, and they are also investing in crypto currencies but they won't tell anyone in public. We all know that we are already in the digital age and almost everything is only one click away and Bitcoin is a part of this era, even some governments ban this they won't stop Bitcoin from spreading all over and they can't stop people from using this innovation that gives people freedom. Cool

Bitfling

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One government can not push their regulation to others country. Some good and advance country have good regulation about cryptocurrency and that's why they allowing cryptocurrency.

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