Topic: why do governments don't make BTC illegal worldwide ? - page 41. (Read 8116 times)
because there is a government that thinks crypto is beneficial, so there is a government that legalize bitcoin and utilize it for government to gain profit
because the government is frightened by the existence of a digital currency such as bitcoin, with bitcoin that has a very sophisticated technology that can see all transactions and is very safe to make governments afraid for corruption.
Well maybe you are missing the point, the topic is why don't governments just ban bitcoin worldwide for fear of bitcoin replacing their fiat money and shutting down banks. So from my perspective, I suppose that it's nearly impossible for them to make bitcoin illegal internationally since they have to interfere with the internet to do so and this is not an easy-peasy thing to do. Therefore, what they are doing now is making regulations and imposing taxes on bitcoin but I don't think that would stop us from using bitcoin. All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues and they could not trace all the bitcoin transactions.They know very well that bitcoin would become the ultimate choice of black money holders for money launderers.
But since bitcoin is an internet currency,it could not be completely banned unless banning the internet which is impossible.The only thing they could do is to regulate bitcoins by framing rules for bitcoin exchanges and asking them to follow strictly KYC to identify persons using bitcoins.That's why many countries have not yet banned bitcoin.
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. But since bitcoin is an internet currency,it could not be completely banned unless banning the internet which is impossible.The only thing they could do is to regulate bitcoins by framing rules for bitcoin exchanges and asking them to follow strictly KYC to identify persons using bitcoins.That's why many countries have not yet banned 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 ?
Governments don't make Bitcoin illegal worldwide because they know that it is not bad things that was invented by Satoshi Nakamoto. Yes some of bitcoin's advantages are against in government but if you think carefully it is not bad, because bitcoin help many people, like what government do and want. They want people to have a better future, and they know that bitcoin can help them. So that there is some countries don't ban bitcoin but there is rules in using it.
All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues and they could not trace all the bitcoin transactions.They know very well that bitcoin would become the ultimate choice of black money holders for money launderers.
But since bitcoin is an internet currency,it could not be completely banned unless banning the internet which is impossible.The only thing they could do is to regulate bitcoins by framing rules for bitcoin exchanges and asking them to follow strictly KYC to identify persons using bitcoins.That's why many countries have not yet banned bitcoin.
But since bitcoin is an internet currency,it could not be completely banned unless banning the internet which is impossible.The only thing they could do is to regulate bitcoins by framing rules for bitcoin exchanges and asking them to follow strictly KYC to identify persons using bitcoins.That's why many countries have not yet banned 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 ?
Because not all the government are ready for it. Some of them thinks that bitcoins is going to be a threat in their nation because it is decentralized and the government cannot controlled it so they chose to shut it down before it cost them a rebellious people. But not all the people are like that to think. Some of them are just a normal people who just wanted to gain an extra income just wanted to have an experience so have a digital money a volatile money to have something new. I hope all governments are just like in japan where all are open in innovations like this.
Now countries heared about you and your thought and started to ban ICOs. I hope you are ok.
If we compare the total capitalization of crypto currencies and the GDP of the wealthiest countries, we can see that this amount of money is not so big. So, I think the governments don't spend a lot of attention to BTC and other currencies for now, but I think it's a question of time when different state financial agencies will decide to push and make the crypto market much more regulated and transparent
because the government is frightened by the existence of a digital currency such as bitcoin, with bitcoin that has a very sophisticated technology that can see all transactions and is very safe to make governments afraid for 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 ?
Yes, of course, this is a nightmare for the government because Bitcoin has many advantages that are not owned by other currencies. The government in the world does not make Bitcoin illegal completely because there is still a sense of government trust in Bitcoin. It's just that the government is monitoring continuously until when Bitcoin will continue to survive. 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'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 ?
Why do governments don't make the bitcoin illegal worldwide? Simply because they think that the bitcoin cannot help their economy grow up and they think it is not a good to used by some people in their country, they do not have a trust in bitcoin because they think it is not good to used my some one and also, The other country did not using bitcoin because the other country did not using also.
Yes, that is one of the reasons why the government does not allow bitcoin to be used as a transaction tool. Especially for governments that are not ready with the presence of bitcoin. For example, the government has not been able to find the technology used to control bitcoin in the country. I also disagree if bitcoin becomes currency with out of control. Because it will make irresponsible people free to control bitcoin, even if they hold bitcoin in large quantities. They will do bitcoin price manipulation in the market. I suggest if bitcoin be the currency passed for the whole world then bitcoin should be made centralized. If it is still decentralized and anonymous then bitcoin should not be a currency only.
I dont know why
if the government made and legalized around the world it would make the original currency of the state bank useless and many would protest. surely people prefer bitcoin because the price is high compared with the money. the community will follow the rules of the existing rules of the country.I think that you have not read that whatn OP is!asking , the topic is about making bitcoin illegal world wide not legalization. No country can make illegal until their a full proof of it is getting used in illegal. They can make strict rules so that it cannot be used in illegal activities
I dont know why
if the government made and legalized around the world it would make the original currency of the state bank useless and many would protest. surely people prefer bitcoin because the price is high compared with the money. the community will follow the rules of the existing rules of the country. 
Perhaps today many governments are studying if they legalize bitcoin, what are the advantages and disadvantages, I think it is better to legalize bitcoin otherwise it will be too late and will harm the country, because there will be a lot of money out of the country
Because the government wants to control all the money that is put into bitcoin. In general, any government loves money and misses it by itself. A ban would cause people to protest.
For what to lose a possibility of profit earning - a tax even on a part of actions with bitcoin, it is already income. And if to forbid, then transactions with bitcoin will leave on the black market.
Well this is all related to blockchain technology. It looks like the government and the bank are interested in this technology. Even today there are already some banks that adopt blockchain technology. it would be weird if it supports blockchain but prohibits BTC. And both are very close. moreover to equate understanding of BTC from state A government and state B government is not easy because each head has different understanding. There are some who attack BTC but there is also a legalized BTC nah it because understanding and different ways of thinking.
They can't make it illegal because it is impossible. Cryptocurrencies are Decentralised and transactions are nearly impossible to track. What governments can possibly do is to stop banks from allowing fiat transactions on crypto related markets, which some countries have already implemented. But still they can never stop peer to peer transactions. Cryptocurrencies will continue to exist for a very long time.
Because bitcoin 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.
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