why do governments don't make BTC illegal worldwide ? - page 39.

Spontebob

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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.

coinstalker23

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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 opinion, banks and countries have different perspective on crypto not only bitcoin. Some countries see it as an innovation on fiat/currency that can change the practical usage of it. Like sweden thats planning to be one of the first to adopt a fiat free and cashless country. Some see it as a threat to their own economy and the money laundering problems on crypto has changing their mind on.

Jessica2009

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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.

freesia_pnp888

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sorry but which gov do you think that they hold such powerful actions towards bitcoin alone? America's?

nurbay

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I agree with you.
The government will certainly not allow its citizens to use Bitcoin or Cryptocurrency because Bitcoin will threaten the existence of Bank Central.
If many people use Bitcoin then many people will not use Bank central services as their payment tool, they prefer Bitcoin.
Therefore the government does not allow the use of Bitcoin.

jovs

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Because they know that bitcoin has so that potential to give people an opportunity to raised their earning and be a tool to somehow help their way to earn in a daily basis. Not just that, bitcoin also give people a chance to have a faster and more reliable way of transaction that could help on development on the market in the future for transaction and investments.

Timere

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

u01p113

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My personal opinion is that government and banks will never make BTC illegal because they want to control it and use it to there advantage.

JacobPeterzAnne

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No government doesn't like money and the cryptocurrency industry is worth billions (or even trillions). I too personally doesn't see what are the advantage of making Bitcoin illegal worldwide but I do agree that regulations should be in place to a certain extend.

Kez1817

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www.cd3d.app

Government is always after taxes and revenues from the people. They don't make bitcoin illegal worldwide because if they allow it to happen people are continue enjoying their wealth with out bank and government and their money will continue to move across countries without government profit. If bitcoin is legal, government can put taxes and regulations and they have also a profit from peoples gain in crypto.

Phyton76

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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 ?

Government cannot control bitcoin because bitcoin doesn’t want to be controlled. It is the advantage of bitcoin that it cannot be controlled because of its anonimity and privacy. Also, if the government will control it, you have to pay taxes and transaction fees which can make transactions expensive. Bitcoin users love bitcoin because of its cheap and easy transactions. If you remove that, bitcoin will never be unique.

dmty.0809

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If it is misused by the public, maybe the government will act soon, I think bitcoin will be the world's No. 1 currency, and the government will participate in the development of bitcoin.

junkerr

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Meta4uStake.io

Probably because there are only a few countries that have acknowledged or applied this bitcoin as a means of buying and selling in their country, so for now it is still not possible to apply it around the world

Lazada

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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 some governments in a country that Bitcoin still get a pretty good position and there are even countries that make bitcoin legal to circulate. This is a different matter because in each country there will be a different decision. The government plays a very important role in regulating the circulation of bitcoin and it also significantly affects the development and determination of bitcoin prices in the world market.

Sharon Borgess

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Suppose that Bitcoin is legal all over the world and every trade is paid in Bitcoin, then there is a high likelihood that banks would be shut down. But it's the trouble of the banks to compete with Bitcoin, not of the governments, though the banks are important to the economy. It would seem quite an unsane competition if the governments ban Bitcoin to help the banks. In the supposed case, maybe the goverment would offer other kinds of aid.

hibiscus

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Governments can't ban Bitcoin since it is a digitized, decentralized cryptocurrency it is not governed by any central authority the user himself controls the Bitcoin and it is a peer to peer system of transaction . No one can stop the usage of Bitcoin since it is operated through internet only and there is no way to stop the usage of Bitcoin of common people who are now entirely frustrated by the new banking rules that is the common man has no freedom for their hard earned money.

Saraki Goo

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We think that soon Bitcoin is going to be introduced as the legal currency of other countries. Bitcoin has a bright future. It will not be destroyed.

liamnorthcoins

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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 ?

The design and previliges of bitcoin is open to all even to criminals. This is actually the reason why the government has beeb very crucial with this platform for years now. Speculations states that big transactions or payments are done via bitcoin because it is untraceable who made the payment nor who were involved with. But personally everyone can be a potential criminal, we can not live in fear and contradictions always just because we cant control everything. There are just things that csnnot be controlled.

collision00

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I feel that most of the nations around the globe don't see bitcoin as a risk, however rather they consider it to be something progressive. Time has demonstrated that and an ever increasing number of governments are starting to comprehend its esteem. They might at present want to control it however and force a couple of limitations all over. In the most dire outcome imaginable, in the event that they do for sure chose to boycott it, it would incite an immense negative reaction from the general population which would harm their notoriety and their opportunity to protect their administration which implies that this plausibility is exceedingly impossible.

vividbery

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Of course it deals with the rules and interests of each different country. There are some countries that have legalized bicoin but there are also countries that firmly reject bitcoin because it is considered not profitable for the country. It seems to be hard to make legal bitcoins around the world

Topic: why do governments don't make BTC illegal worldwide ? - page 39. (Read 8116 times)