Topic: why do governments don't make BTC illegal worldwide ? - page 26. (Read 8116 times)
That will be suicidal in future. all government state-backed crypto will just lay lame and people will use bitcoin more anonymously and it means no control and one thing government cant let happen is total economy go out of control - they are implementing KYC/AML for that reason.
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 think that Bitcoin is not a big threat to them currently. If they will ban Bitcoin in a country, I am sure that holders/investors/users of Bitcoin will find a way to manage and access their Bitcoin as long as there is internet.
Nothing, per se.
However, like so many other things that have been banned, yet are difficult to enforce, such bans would likely simply be ignored.
No longer having government-sanctioned access to cryptocurrency exchanges, and so on, might be inconvenient - but - due to the nature of cryptocurrency and its underlying technology, government bans might actually increase its usage and strengthen its adoption.
Especially in parts of the world where the local currency is neither strong nor stable.
However, like so many other things that have been banned, yet are difficult to enforce, such bans would likely simply be ignored.
No longer having government-sanctioned access to cryptocurrency exchanges, and so on, might be inconvenient - but - due to the nature of cryptocurrency and its underlying technology, government bans might actually increase its usage and strengthen its adoption.
Especially in parts of the world where the local currency is neither strong nor stable.
Yes, every government has the power to ban bitcoin in their country. But The only way to ban bitcoin is to ban the Internet in the entire country (north Korea style).
There are already countries who banned bitcoin other than china, so this is just a normal event on the cryptocurrency world. If you guys are afraid that bitcoin will die because China banned it, don't be bother by this. Bitcoin could exist without this Chinese Government, there is some countries already who trusted bitcoin and make it one of their currency, and one of them is Japan, so rest assured, bitcoin will still live and will keeping booming as always and will sooner lead to revolutionary period throughout the world industry.
As of China, government has only closed exchanges. But soon they'll be launching their own cryptocurrency through which people can easily buy Bitcoin. But all the funds coming and going from bank would be under government scrutiny through their cryptocurrency. This is what they wanted to achieve. They never wanted to ban Bitcoin.
Other factors which I think is they can prohibit mining or regulate it so hard that everybody stops mining all together. China did this and banned mining and trading bitcoins recently that's why it is possible that bitcoins can be banned. If the government however does intervene, they will most likely stop mining operations and the bitcoins harvest will not join the circulation, reducing the supply further making it more expensive thus preventing investors to buy more because it's expensive.
There are already countries who banned bitcoin other than china, so this is just a normal event on the cryptocurrency world. If you guys are afraid that bitcoin will die because China banned it, don't be bother by this. Bitcoin could exist without this Chinese Government, there is some countries already who trusted bitcoin and make it one of their currency, and one of them is Japan, so rest assured, bitcoin will still live and will keeping booming as always and will sooner lead to revolutionary period throughout the world industry.
As of China, government has only closed exchanges. But soon they'll be launching their own cryptocurrency through which people can easily buy Bitcoin. But all the funds coming and going from bank would be under government scrutiny through their cryptocurrency. This is what they wanted to achieve. They never wanted to ban Bitcoin.
Other factors which I think is they can prohibit mining or regulate it so hard that everybody stops mining all together. China did this and banned mining and trading bitcoins recently that's why it is possible that bitcoins can be banned. If the government however does intervene, they will most likely stop mining operations and the bitcoins harvest will not join the circulation, reducing the supply further making it more expensive thus preventing investors to buy more because it's expensive.
In this posting, I break down the question like this:
Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading.
But more to the point, what is the reason for these efforts to discourage use? Are the reasons and goals practical and legitimate?
Does Bitcoin present a threat to sovereignty, control of the domestic money supply, borrowing, inflation, foreign exchange or fiduciary institutions? Yes and No…
Gradually, lawmakers in some countries are beginning to perceive Bitcoin as more of an opportunity than a threat. There may be no need to dissuade citizens from adopting Bitcoin, even if the populace saves or spends it as actual stored-value cash and not just as a payment instrument.
Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading.
But more to the point, what is the reason for these efforts to discourage use? Are the reasons and goals practical and legitimate?
Does Bitcoin present a threat to sovereignty, control of the domestic money supply, borrowing, inflation, foreign exchange or fiduciary institutions? Yes and No…
Gradually, lawmakers in some countries are beginning to perceive Bitcoin as more of an opportunity than a threat. There may be no need to dissuade citizens from adopting Bitcoin, even if the populace saves or spends it as actual stored-value cash and not just as a payment instrument.
Meanwhile, China and South Korea were initially open to this concept, also issued a similar ban.
The reasons vary. Starting from the issue of fraud cryptocurrency, to hacking. In South Korea, a number of trading offices are allegedly abusing virtual money in order to avoid taxes. For that, the Minister of Justice of South Korea is preparing a draft ban on the type of cryptocurrency trade.
The reasons vary. Starting from the issue of fraud cryptocurrency, to hacking. In South Korea, a number of trading offices are allegedly abusing virtual money in order to avoid taxes. For that, the Minister of Justice of South Korea is preparing a draft ban on the type of cryptocurrency trade.
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 will never understand the government’s ideology behind this not legalizing the crypto market. There is more benefit to the government and economy in using coins like TAU, DRGN, ICX etc which are coming up with new projects than the Crypto market itself. 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'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 not understand this. If the governments really invest in Crypto and legalize it can earn more revenue than ever. If they use coins like Lisk, PRG- that is aiming towards cannabis, not only will the earnings will rise but the lives of the inhabitants shall be saved too. Less deaths will lead to a stronger economy.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 ?
The big worry about bitcoin or another cryptocurrency is the government cannot trace the user's financial, but i will use bitcoin as long as possible. I don't care about bad news or banned in some country about using bitcoin, bitcoin is freedom.
Yeah you're right you do not need to care about the bad news or the government's ban. after all you can still use bicoin freely right? besides every country has its own policy dude. so not all countries forbid bitcoin. even some countries just legalize it
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.
the government can not completely prohibit Bitcoin and its kind in the case of Cryptocurrency trading exchanges, as they also get tax from every transaction on the exchange.
so the government can also be rewarded from Cryptocurrency in the form of tax for state income, so that the country gets suplay money for the welfare of society.
so the government can also be rewarded from Cryptocurrency in the form of tax for state income, so that the country gets suplay money for the welfare of society.
They have tried a lot to do so from the beginning but unfortunately they never succeeded. As you have seen the ban has imposed many times by the major countries of the world having big crypto community but it doesn't take too long to lift their ban. Now it seems impossible that a worldwide would impose over cryptos because crypto community is now much more stronger than ever before.
Well, i think because some government don't know how bitcoin is helpful to people in terms of earning money and i think they have some reason why they just ignore bitcoin. We are happy because the places where we live is accepting bitcoin and we can earn bitcoin though.
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 ?
We can say that bitcoin and other cryotocurrency are threat to the governmrnt and especially to banks, but at the end accepting the change in our life make our way of living much easier so that some government didnt ban it because of some purposes like it may helps the citizens to not waste a lot of time just paying some bills etc. 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 ?
Indeed. Bitcoin and other digital currency is a real threat to bank system and government as well all know that the two are tightly linked.Bitcoin didn't make anything that prohibits government laws and regulations.
Its a great way for top high end hedge funds, politician, bankers , etcetera etcetera to make and hide billions$
Government do not make bitcoin, illegal worldwide , it is because bitcoin management has no illegal transactions that involve their investors ,even if it is decentralized and have not regulated by any government agencies worldwide but bitcoin had no crimes committed , like laundering, financial scams, illegal activities, bitcoin is for good profits , legal payments and medium of exchanges in the cryptomarket, so there is no illegal activities in bitcoin.
Governments do not make bitcoin illegal because they use bitcoin to profit. Bitcoin is one of the most profitable stuff . For that reason, every goverment and company are using bitcoin. they double their money with bitcoin for sure.
The government it is hard to get any taxes from bitcoin from different people because of unknown personalities and also the government can not easily adopt to make the bitcoin illegal most of the criminals are using bitcoin to their bad activities.
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 ?
Government can not legalizing bitcoin because they dont have regulation about cryptocurrency. Beside that, some government think bitcoin used for illegal activity like money laundering and avoid taxes.
I am optimistic in near future, government will regulate cryptocurrency and can used for payment in merchant
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