why do governments don't make BTC illegal worldwide ? - page 28.

Kimchu kuno

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Quote from: hich_ang on August 29, 2017, 07:32:25 PM

It's very early to talk about governments adopting bitcoin.
Not making it illegal is a win right now.

Some other countries makes bitcoin is very useful to them and made it legally consume. Definitely still working until now by the supervision of thier government in such things happen they cannot make bitcoin illegal nationwide, so why not to adopting bitcoin in good terms and good purposes to make it legally applicable anywhere we go that can makes hassle free and accommodating.

pjr77

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Despite the fact that blockchain and distributed registry technology can make positive changes to the financial system, putting the global economy in dependence on a decentralized network is too risky for many reasons.

ebetlupet143

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I beleive that many governments and banks have changed their attitude towards Bitcoin, it's not anymore so hostile as it used to be. They figured out how they can have use of Bitcoin too and they are very well aware that it's not possible to make it illegal. They accepted it as something inevitable and they don't want the war against Bitcoin anymore.

Stioned1987

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The governments in general do not interfere in something until it's miles too big of a hassle to them, as they already have larger issues in their hand. additionally it takes a long time for the governments to return to a end. Plus the governments recognize that even supposing they banned it they wont be capable of forestall Bitcoin as it's miles decentralized

cxmyifan16

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The Premier Digital Asset Management Ecosystem

One of the significant factors limiting the conversion of digital coins into a global standard is the lack of physical implementation. For this reason, representatives of the trade sector treated them with distrust. However, in recent years there have been significant changes in the direction of improvement.

angeltee

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It is not an illegal platform. Government dont accept the platform because of the fact that it is decentralised and cannot be tamed or controlled by any government around the world. Believe the fact that some government officials are making it through this same platform. So, there are no government body to declare it illegal but can only be done by the government of nations individually.

Crypto11021

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The worst government can do now is to regulate Bitcoin to make money from those benefiting from Bitcoin, banning Bitcoin isn't possible now because a lot of people now understand the power of decentralization and Blockchain technology, any of such illegal or banning policy will shift Bitcoin activities from your state.

marjon

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Quote from: eternalgloom on August 29, 2017, 01:57:57 PM

Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.

But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/

Absolutely you're right sir, Im also worried if my country made Bitcoin as illegal and might denied the acceptance of Banks and remittances here. Implementing regulations is a step to legalize the Bitcoin and I'm glad the Outlook of our government in virtual currency here.

Robin1020

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Because there are some countries that feel bitcoin is even profitable for their country by way of legalizing bitcoin. There are also some countries that bitcoin because it feels threatened and can not control the bitcoin. But not all countries make bitcoin as an illegal digital currency. It won't be easy for them to make it illegal since they know its decentralized and if declared illegal it will still continue to exist as far as there is internet..

Vipares

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You are absolutely right. Government had seen how transparent Bitcoin is and see no reason to make it illegal. Those that set it illegal are just scared that their wrong doings will be revealed once their people know about Bitcoin.

EnricoGomez

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There is not quite enough reasons for every government in the world to do so, there is still the benefits and advantages on it. We have come to a digital era where literally anything is digitalized, it is not a very remote idea to transition fiat to cryptocurrency as it is the plausible future.

TTITA

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Instead of making it illegal, they should rather look for a way to regulate it such that they can have a little control over it in their country. The issue with government and bitcoin is the inability of government to regulate bitcoin as they want,that's why bitcoin has always been a threat to them. I believe in nearest future a way will be brought up to regulate bitcoin and not declaring it illegal .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.

Chrisjay29

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In think the only factors why government didnt legallize bitcoin worldwide it because of fudsters and news that bitcoin scam. But there are some country accept bitcoin infact there are store accepting bitcoin. That is a good sign for good future of bitcoin

phelanceter

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They can't ban it globally because they don't know how to. Many are neutral about allowing or banning cryptocurrency in their market and some smart ones encourage and recognize it as a real currency like Japan and South Korea. Cryptocurrencies can be threat to banks but to the economy. Furthermore, cryptocurrencies common goal is to improve the economy by proving a practical and efficient monetary system.

Powerpuff

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If governments could effectively stop a peer to peer network, they would’ve shut down the illegal practices of torrent websites over a decade ago. Trying to ban bitcoin or regulate it in a manner that allows actual oversight would be much the same. It’s impossible on a technical level.

Even tracking individual people who own specific wallets is difficult. While the public blockchain might allow governments or law enforcement to track down certain bitcoins, tying them to a real-world person is very difficult. An owner can hide his or her identity with a VPN, Tor, or even physically move a wallet into cold storage (offline) form, making it invisible to the world.

Ale88

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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 to ban bitcoin they should pretty much ban the internet, and of course it's impossible. And all the countries of the world should agree, and that's something quite impossible. People would keep using anyway the bitcoin, the ban wouldn't stop them.

BlackPanda

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Quote from: ?? on ??

Quote from: Mersterious on June 18, 2018, 10:28:35 AM

for me All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues and they could not trace all the bitcoin transactions. They want people to have a better future, and they know that bitcoin can help them. So that there is some countries don't ban bitcoin but there is rules in using it.

the state tax revenues have become important in this case, when the legal bitcoin in a country, the government's fear of this is very big indeed. where all industries can not provide tax on state revenues.

This is because there is no clear control over Bitcoin, but if I want to then I am sure the government can take tax on every Bitcoin transaction. At least the tax can be applied to the level of exchange so that every time a transaction is done then there is a percentage that must be deposited to the government. It will be done if all the components of government agree on it and we all certainly support it. If we feel objected to it then forever Bitcoin will never become legal, our active role and support is very important in improving the development of bitcoin.

prediction on bush

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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 why government don't BTC make illegal worldwide is because bitcoin is full of risks involved and also because the government does not understand clearly what is bitcoin and its systems.

Mersterious

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for me All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues and they could not trace all the bitcoin transactions. They want people to have a better future, and they know that bitcoin can help them. So that there is some countries don't ban bitcoin but there is rules in using it.

Gumpfire

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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 ?

In my own personal opinion, even there are still countries who have banned bitcoin they could mot make bitcoin illegal or banned worldwide becayse there are many countries like america and japan who accepts bitcoin as legal currency. It has a less chance that the government could make bitcoin illegal worldwide.

Topic: why do governments don't make BTC illegal worldwide ? - page 28. (Read 8116 times)