why do governments don't make BTC illegal worldwide ? - page 3.

armarsterling7

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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 do not think it is technology that threatens technology. You thought too negatively about it. Blockchain technology will even help improve the banking system and they can work together to better serve their customers. And it's not a nightmare for the government!

Stark_Naked9

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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 totally agree with you. If BTC doesn't get any the regulation, it actually would harm to the banking system, especially for the government. As you can see, BTC is convenient and secure in the transaction. Especially, I can't get track of the authority. It would lead to the result that they couldn't control the circulating of the national currency and get lost their tax of the transaction in the country.

HarryBrace

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Governments off every country are also very much thoughtful about this matter because they can not over look the advantages of bitcoin.

Crafts12

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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 ?

Governments can't totally make bitcoin illegal worldwide because of some of them are actually infavor in using it and they truly accept the concept of cryptocurrency. They cannot make the bitcoin illegal maube because they are having a plan on how to put taxes in it or rather control the regulation or system of bitcoin. On the other hand, another reason is, since some of the people started involving in here, governments doesn't know how to do with the money that bitcoiners have if ever they will really ban and make it illegal.

kniheant2

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i think the government wants to control all the money that is put into bitcoin,There are only a few contries where the government fears bitcoin could be a danger when people use it to bring money out of the country.

ProstoCrypta

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They'll never agree with each other. And even if this happens, there is a country in which Bitcoin will be legalized and then this country can get a huge advantage in the future.

Sabana1952

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Hopefully they will and they'll see the benefits of allowing it themselves and the tax money they'd be missing out on, but they don't really see that with the legalization of drugs so who knows what their thinking or rationale would be for banning or regulating bitcoin in whatever capacity.

PhuongVo2702

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I think because the governments can't control BTC while BTC have a lot of disadvantage in protecting us from terrorism and drugs

ishinn99

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BitHostCoin.io

Quote from: Kusnechik on August 31, 2018, 10:11:50 AM

Most likely, the governments of developed countries understand that the technologies that carry the crypto currency are the future.

Yes, the governments already seen a lot of good potentials and huge profit in the cryptocurrency world most specially with bitcoins. I am hoping that soon more countries will regulate it.

Kusnechik

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Most likely, the governments of developed countries understand that the technologies that carry the crypto currency are the future.

HeXecutor

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Well ... at least the government has a lot to do with it ... but some things even it can not do. By law, you can certainly make bitcoin illegal in the territory of even the entire globe ... but this will not give the most positive effect. It would be much more effective to legalize bitcoin around the world and tax it ... as in many countries and gradually becoming

Tunapress

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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 itcoin if its users are ready to give their true identity for verification purposes through KYC.

Janadara123

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Because they can't since Block-chain is so decentralized and it will not be tamed by regulations. There will be big fight with Cryptocurrencies and typical finance systems and I believe Crypto will win that war.

chuyengia2244

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There are many things not governments that can be legal or illegal around the world. Many global issues aren't easy to reach consensus, bitcoin itself and blockchain technology are future platforms, so some governments can not stop it.

Feuerbach

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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 ?

Perhaps your ideas about the banking system and the government are partially false. Also, the cryptocurrency can be regulated and kept under control.

guybrushthreepwood

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Quote from: christina.arnigo on August 31, 2018, 04:39:20 AM

Government cannot make the btc illegal worldwide because bitcoin is not linked or controlled by any financial institution.

Faulty argument. Just because the government doesn't issue it doesn't mean they can't control or police it in other aspects. Drugs like cocaine and heroin aren't linked or controlled by a government institution but they're still illegal and they police and punish their usage and distribution. Governments can't fully stop people from using bitcoin, but they can certainly regulate it and put restrictions in place that would hinder its use or even criminalize it and make it illegal. I don't know under what grounds but if they wanted to make life difficult for us they certainly could. I'm sure they could put some sort of ban on it being used as a currency or even prohibit people from using it as a speculative asset, but like I said, 'bans' likely wont come under the guise of illegality but just regulating it to death which will put off both investors and merchants alike from getting involved. Hopefully they won't and they'll see the benefits of allowing it themselves and the tax money they'd be missing out on, but they don't really see that with the legalization of drugs so who knows what their thinking or rationale would be for banning or regulating bitcoin in whatever capacity.

christina.arnigo

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Government cannot make the btc illegal worldwide because bitcoin is not linked or controlled by any financial institution. The blockchain doesn't require any agency to operate it. If the government will require to stop this, they cannot regulate the entire network. Even the true identity of the wallet owner, it is very difficult to find the real person beyond a wallet. They can also hide their identity by moving their wallet into offline form. If the government wants to stop it, it is very impossible for the government as of now to control anything that is digital

Zulasea globNebay

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I think the government has not been able to control the BTC so it has not been widely accepted.

luffyzxc

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I think why goverment accept the btc illegal in worldwide because they worried to have a competition to other project, and they want to be the number one project of the world business, and they want to have a highest income to earn.

Lukamovo918

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They can't ban bitcoin even if they want to. If governments ban fiat to crypto exchanges, they can effectively stop most trading and most bitcoin-related transactions overnight.

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