Topic: why do governments don't make BTC illegal worldwide ? - page 34. (Read 8116 times)
The government is simply afraid, because they will not be able to regulate the market.
This is due to the fact that bitkoyn is currently widely distributed by people in different countries. In some countries it is said that it becomes legal, because it is widely used by different people. I believe that this does not violate any rights.
For me government don't make bake bitcoin illegal worldwide because other part of the government is using it in their illegal work. Those that set it illegal are just scared that their wrong doings will be revealed once their people know about Bitcoin.
No it's not possible for the whole world to make the decision to ban Bitcoin. What other government see in Bitcoin that could help them might not be seen in another country which is normal. Pushing the industry will only make things worse for their economy as a lot of people are getting accustomed to using this innovation.
Governments wouldn't make BTC illegal simply because they can see that their people benefits from this type of currency aswell. They knew how convenient this can be. Battling each other will just make things chaotic. Some countries are already using Bitcoin as their currency and they don't regret a thing or two because this just makes their life uncomplicated. In reality few countries are thinking already how will they adapt to this. An example of a country that is using this as their way of making the money flow is Japan. They made it as a legal currency, numbers have surged since their government passed a new law last year, making bitcoin as a legal form of currency. Bitcoin isn't a danger and won't be a danger for banks out there. Bitcoin will make things revolutionary.
The answer is not possible because it could lead to the problem in the country, for the case of trivial alone could cost the state, let alone with digital currency may be a little complicated to set up to the Constitution in it.
Simply because bitcoin is decentralized and with that governments and banks cannot control it or manipulate it. Hence if they no authority to control they have no gain or profit on bitcoin. Lately there are some changes on how government treats bitcoin nowadays, some countries already accepted it into their economies which a really a good news to all. It can attract more investors and stabilize the market's price and gives other countries an open mind to accept and embrace bitcoin as well.
Government and bank of war with Bitcoin turnover can not be avoided. Initially, the government did not take the matter seriously, and it is now too late. The world is not unipolar and a ban in one country will cause all money to enter other countries. They know how they can use Bitcoin as well and they are very aware that it is impossible to make it illegal. They accepted it as inevitable and they did not want to fight against Bitcoin again.
Because of the different issues or different reasons of each government agencies in the world. Yes indeed there are some agencies that have common thoughts and principles that each government or countries agreed. But in this modern age those agencies only govern the land and seas right of each country. Yes we do the World Bank that somehow has a power to regulate the cash flows of the world. But in the case of bitcoin there are no government united agencies that govern the flow of bitcoin. Well in short there is no worldwide government agency that agrees that BTC is illegal or legal. So the other countries say that bitcoin is illegal and somehow they say that it is legal on their jurisdictions.
Governments probably cannot shut it down through "technical" means, i.e. hacking the system, thus crashing the value or preventing it from working. So maybe they can't technically eliminate Bitcoin, but they can probably force it to be a currency that in polite company marks you as a criminal, that swings wildly in value, and that can't easily be converted into any real-world products. Which is as good as dead.
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 its because every government have their own regulation and have their own financial system. Some country allowing bitcoin and cryptocurrency because that government want to collect taxes from crypto trades but they not allowing crypto for payment in merchant
It is not an easy way to ban BTC for the government since it is accepted by economically and technically developed countries . Government cannot shut down Bitcoin through technical means also since it is operated through the means of internet only and it is a digitized and decentralized in nature. The only way to ban Bitcoin is by spreading rumors about Bitcoin and the negatives of Bitcoin into the mind of the people so the people may keep away from Bitcoin.
With bitcoin that has a very sophisticated technology that can see all transactions and is very safe to make governments afraid of corruption so the government is afraid of the existence of digital currencies such as bitcoin and other crypto currencies
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.
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.
Since the improvement of Bitcoin is still exceptionally considerable, countries does not have any desire to surrender open doors for advance.
because in some countries bitcoin is considered beneficial and helps the country's economy, so in some bitcoin countries are not illegal
Yes, bitcoin is truly beneficial to all of us. If the government may control the bitcoin maybe they will surely declare it as legal and valid currency. The reason why most of the nation doesnt want to declare it as legal because of the special characteristics of 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 ?
You are partly correct. But there are some underlying reasons why some governments do not declare Bitcoin to be illegal. If you'll think of it, it actually benefits them largely (behind the curtain) in ways only they can determine (though we can also make our own assumptions). In contrary to Bitcoin being a threat, I believe it's the opposite. 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 understanding, i think the reason why government don want to make bitcoin illegal is because its not a fiat money its not a substance like coin or note so no regulations can be on it and its a decentralized currencies that is not supervised by any governor so if anything goes wrong, no government can be held responsible.
That is indeed the reason some governments, the absence of an official administrator who manages bitcoin. This increases the risk, moreover the price of the volatile cryptocurrency. so the government declares that bitcoin investments are at high risk.
Because there are still some governments from different countries still have not received bitcoin due to the obscurity of bitcoin for the future. It is true that bitcoin is very unpredictable for the future and so the government is still thinking about it so that the economy of the country is not chaotic.
I think Bitcoin is Technology and the technology is demandable and good, there is no any reason to ban it, one thing I think if anything happens wrong than government should take the issue to prove that this technology does work great,
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