Topic: why do governments don't make BTC illegal worldwide ? - page 29. (Read 8116 times)
Bitcoin is not that stable for the government to make it it legal worldwide. Besides when it concerns matters that has to with currency, there is need to understand it and don't rush in making decisions. Bitcoin still have many setbacks holding it to becoming a legalized currency worldwide and it's transaction speed still needs to be worked on. Besides the government fears bitcoin that it may disrupt the current known monetary system.
Cryptocurrency could be regulated but not could be declare as illegal because many of the people introduced by the system has a greater percentage of satisfaction on joining cryptocurreny and that includes myself. There are many ways to earn here in cryptocurrency so that is why instead of declaring it as an illegal it is good that government should be neutral. Aside from that the government has also foreseen its worth like having or conducting an ICO project. This is the best way also to implement a project which funds are coming from the crowd.
I think theres no enough reason to make bitcoin illegal but instead the law makers in different countries should pass a law that legalizing the use of bitcoin because this is very useful in terms of investment and as digital currency that used to pay.
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/
Yes you have a point, don't they even consider that government can gain fund from Bitcoin transaction via tax, it will help to progress some of the government project if they do so... 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/
But I don't see clear valid reason why some country banned BTC....
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 you're absolutely right. But in general, I do not think this can be done fully illegally because it is anonymous in part. And, in my opinion, governments (and banks, of course) can gain much more if they do not bans them.
They will never make Bitcoin and crypto currencies illegal because they know the potential of this technology in our monetary and payment system and they all see with their own eyes what happened to Bitcoin from its humble beginning and compare its value today. Some government already banned the usage of Bitcoin from their country but they can never stop Bitcoin from exploding world wide and every year there are more people getting curious and adopting this technology.
Based on what I heard from my government statements in regard with bitcoin, they stated that bitcoin and many altcoins are using in many scram case and many people lost so many money!
Yes bitcoin can threaten the existence of a bank or economic condition of a country. If bitcoin is much misused by bad guys. But if the government first receives bitcoin, it will be easily overcome by regulating the circulation and every transaction that uses bitcoin.
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 you're absolutely right. But in general, I do not think this can be done fully illegally because it is anonymous in part. And, in my opinion, governments (and banks, of course) can gain much more if they do not bans them.
Is Bitcoin that much of a threat? Anyway each country has different perspectives it's clear that russia and china are against bitcoin but countries like Switzerland have supported Bitcoin.
I think government don't make it illegal because even if they do people will still use bitcoin. As the main advantage of the bitcoin is anonymity its very hard to detect who is using cryptocurrency. Moreover many countries came to realize the true value of bitcoin and they accept it as its a future assets.
Because not all State Governments have the same rules for Crypto. There are countries that prohibit and there are also countries that legalize Bitcoin. So the government can not equate the rules for the whole world.
Everyone has different rules and ideas in every country and therefore Bitcoin cannot be legitimately certified by all countries.
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. And being decentralized makes it hard to regulate, coming to a policy will be also difficult.
As there are countries who are in the opposition against bitcoin and its affiliates, there are also countries whose government allow at a regulated level or completely lets bitcoin ve operated in their country. Commonly these countries are either well-developed or their govent is too busy to take full attention to bitcoin, that's why it freely operates in those countries. Most of the countries who allowed bitcoin use saw huge potential that bitcoin could help their economy but regulated it so it would not be abused by criminal entities.
For some governments who actually could have a prospective view of the world's finances with Bitcoin will not ban it. This is because based on the recent impacts that Bitcoin has made it can really cause a revolution as the years go by. So visionary governments wouldn't ban it but find a trivial way to regulate it and get revenue from 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 ?
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 am sorry but its not possible.Since the main reason of hating bitcoins is not paying tax to government and the mostly criminals are involve with bitcoins.Its true bitcoin can give us hug of profit if its become illegal but it will unlock many false activity.Criminals can use it for buying drugs and weapons as you know its transaction is anonymous so for police its become hard to reach criminals
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Most governments are funding groups and research institutions to study blockchain technology, because beyond coins and tokens this technology has untold potential in other aspects of the society. Like many new things, this is here to stay.
yes, the presence of bitcoin is a threat to governments especially in banks. banks are the third party in using money. save, take, borrow money is through the bank. but bitcoin has no third party. it's straightforward to two people who make requests and offers. so the fee is very small. and is anonymous. so many people move on bitcoin
I beleive that many governments and banks have changed their attitude towards Bitcoin.If one country ban you will go to the country who accept Bitcoin so you cant control it. That's the reason it wont be illegal anymore.
But those governments can make the revenues from refulating the crypto currency usage.But even if they want to ban cryptos it can be banned or controlled all they can do is stop reading by banning the exchanges.
Maybe they do not want it to illegalize, and still studying what will be the benefits that it may contribute in our economy in the future. They can regulate it in such a way that all individuals may use it in their daily lives without a touch of corruption.
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 ?
Government don't make BTC illegal worldwide, because in some country government see the good intention of btc for helping people. And because there are a lots of people who use bitcoin a good way not in a illegal way. 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 ?
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