why do governments don't make BTC illegal worldwide ? - page 38.

HaroldConway

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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 are scared to ban bitcoin because they know that people can still use it and if there is a ban, they might indulge into using it more. Bitcoin is supported by the number of users it has. For example, TAU has a lot of users who are getting a lot of profits, therefore they shall never stop using it.

Jcabudx

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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 ?

Why government don't make it illegal worldwide? Because some country saw the goos result for their people who are in need. Also bitcoin can be one of the source of income of every people in the world that can help them to lift up their life. Government sees its important to other people and how bitcoin change everyones life.

HaddenChapman

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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 ?

Bitcoin is illegal in a lot of countries, however, there are some governments that have realized its importance; i.e they can earn revenue from it and they know that no matter how much ban there will be on Bitcoin, people will use it anonymously. Coins like PRG are giving people benefits of cannabis, therefore they will keep using it.

bacio2

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Something like that impossible no longer! I do not believe that such a thing will happen. The governments have to adapt, of course for the sake of mankind. The last days, an article about 'Digital Revolution' was published on the IMF website. Are the centralization and the authority for the good of mankind? I think we must have doubts about in this regard.
http://www.imf.org/external/pubs/ft/fandd/2018/06/impact-of-digital-technology-on-economic-growth/muhleisen.htm

Epimetheus

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Quote from: bitbunnny on August 29, 2017, 02:06:05 PM

I believe 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.

Many government show their negative attitude towards Bitcoin and ban it in their respective countries and this is some reason behind this. Bitcoin decentralised nature is the one of the main reason behind this. No government never want something in their country which they cannot control and because of decentralised nature government has no control over Bitcoin. This thing ultimately affects their country economy and financial growth. Bitcoin irregular production and distribution also affect an currency own price in the international market. Bitcoin is also associated with some serious criminal activity. So these are some major reason behind this topic.

wallstone

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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 ?

They won't, or at least countries like Japan will not as long as it helps their economy. And I don't even think that the government can shut it down completely. Pushing the industry will only make things worse for their economy as a lot of people are getting accustomed to using this innovation. They might ban it all, but it can work on background still.

queenlaurel

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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. Not everybody thinks in the same manner. Some government sees something good in Bitcoin then adopted it while others sees it as a threat.

Clement Kaliyar

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Quote from: Timere on June 06, 2018, 07:22:53 AM

Bitcoin will be used throughout the world, whether it will be legal or not. And then who took it will be rewarded.

Bitcoin is used globally but what we want to see is that the entire world able to trade bitcoin and for that to happen we need to have a legal framework to attract more users, the reward it gives is not the most important thing, if it can be used as a currency to trade and it will be a reward if you are able to invest in it at an early stage.

DisWhale

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Improve your mode of payment with crypto

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 ?

There is no central government that rules the world. Just as there are countries with Bitcoin illegal, there are also countries with Bitcoin being legal. The governments do not have the same minds, goals and vision. Bitcoin will continue to reign till it hits a global patronage.

dbutp

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Each government has a perception of bitcoin. Many governments have legally bitcoin but many countries do not accept it because of it's decentralization. Transactions and developments of bitcoins are not controlled.

Bestthefriend

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Most governments see Bitcoin as a threat to the national economy due to the fact that it cannot be taxed, there are also claims that it feels crime as outlaws tend to use BTC to pay for their illegal activities, some governments has however allowed BTC operations in their territories while most still haven't. But it all depends on the policies of these governments as they operate on different principles I believe that as soon aas the legal battles are handled, there will be higher chances of BTC being llegalized

Afobaje38

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Most Government knows the worth of bitcoin so they make it legal, and other government that are not involve are scared because of past experiences of investing

Peashooter

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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 ?

Not all governments think like that. 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.

Glutius

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The threat to the banking system from cryptocurrencies is only a small part of the upcoming reform. After all, there are already projects based on blockchain, which provide banking services for cryptocurrencies.

domerosan10

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This is only a very early start for the government if it wants to make illegal bitcoin. There is no real reason to make it illegal. For now, far from threatening banks and governments. If so, the government can regulate its use, not prohibit it completely. Because bitcoin can be utilized to help the economy.

Katfilka

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Because BTC can destroy suxh importand institutes as a bank and other goverment financial offices, and as a result goverment will receive the hole in the budget Grin

BlackRacerX

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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 ?

They can't ban it globally because they don't know how to. It's quite simple if you look at it. Nobody can ban bitcoins because blockchain technology is virtually untouchable. Plus, not all countries hate bitcoins. Some have already accepted and integrated bitcoins to their day-to-day lives.

ashfakur

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Yes, you are right, and in my opinion A good part of the economic development of many countries comes from the bank sector, due to the bitcoin transaction, the bank is going down a lot in the bank, because the bitcoin transaction is not taxed by the government or the bank. , But they are doing tax from the Khan if they are trading through bank, because the government of the different countries understand blockchain it is not declaring it as liggel, but the government has not done anything on it Dista rules announced it is essential for the country! and now time many county already declare bitcoin is the legal BTCBTC

yusupjatigumilar

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it is impossible to do if only a few countries do that, it will be worth it, I think if you want to make illegal bitcoin in the whole world there must be a world institution that consists of all countries that agree with bitcoin in the legal

target

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Quote from: Spontebob on June 06, 2018, 09:42:29 AM

Quote from: Kronos21 on August 29, 2017, 01:46:16 PM

You are absolutely right. War governments and banks with a turnover of bitcoin is inevitable. Initially, the government did not attach importance to this problem, and now it's too late. The world is not unipolar and a ban in one state would cause all the money will go to another state. The cat will go for it? The government just don't know what to do with bitcoin. This is the calm before the storm.

You stated the answer yourself. Bitcoin can be used for illegal transactions by criminals because they will be untraceable and anonymous (but as far as I know, it is now possible). It can be used for money laundering and other terrorist acts. But because of a lot of people and politicians believe in the capabilities and how helpful bitcoin is, governments find it hard to make it illegal.

Weren't they already discussing about regulations, with regulations everything can be seen. There is just too much discussion about it but never have they come up to clearly state it in the public but I guess they are going to make it massive soon and that they are going to support one token out there for banking system and that can be traced. This means they might be joining the the blockchain like they can't beat it.

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