why do governments don't make BTC illegal worldwide ? - page 45.

KingOfWinterfell01

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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 government is having a hard time tracing bitcoin because it is untraceable. Another reason is because it costs so much, it takes great effort for a government to remove a commodity of great value from the market. It'll cause chaos and will most likely cause major fallouts in the digital world. Finally, I think as well as most people here, that the government actually is trying to make some sort of a money making scheme from bitcoins that's why no one still is taking an effort to ban bitcoins after China.

coin_1122

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Quote from: snedyolo on October 25, 2017, 04:23:04 AM

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 don’t make bitcoin illegal world wide simply because there’s nothing illegal about it. It is like online money. The only thing that makes it look bad is when bad people use it for illegal activities.

Yes, you are right government wants to establish this new technology into real time environment where we can use them in our daily life. So government are seeing huge potential in Bitcoin that's why they are not making Bitcoin as ilegal.

thenameisjay

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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 ?

If I were the government, I wouldn't make it illegal and jusy regulate it instead. That way, the government still grows and revenue is harvested from the movement of bitcoins. Maybe that's the reason why governements are still studyinh bitcoins, to actually make money out of it. Sly sly government.

AverageGlabella

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Is Bitcoin that much of a threat? Anyway each country has different perspectives it's clear that russia and china are against bitcoin but countries like Switzerland have supported Bitcoin

crustycrab666

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in my opinion, the most powerful reason why there are still so many governments that do not legalize bitcoin are: Bitcoin exchange rate rises and falls purely following the market mechanism and the government can not control its exchange rate.

snedyolo

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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 don’t make bitcoin illegal world wide simply because there’s nothing illegal about it. It is like online money. The only thing that makes it look bad is when bad people use it for illegal activities.

jasonjm

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Well there are a lot of reason behind this, first of all every country has different rules and regulations and they are some what different from others. One more thing is that you cannot track bitcoin transaction and it can be used as money laundering.

iMark

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Quote from: MostafaGamal on October 07, 2017, 03:11:54 PM

they have to do a lot of research before this step , but i think it's very hard now maybe next 5 years

moreover, the rules of each country are different mate, although in some countries bitcoin is banned but it can not be generalized worldwide because every country has its own regulation and policy, so that is why bitcoin is still free in circulation, because government in many countries still many who has not stated his attitude on bitcoin

willmunte

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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 ?

It's very simple because if it's legal to have more investors care in it, life's projects will not be care in that one thing I'm bad . This has happened in china.

TheGodFather

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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 ?

You may have a point but you also have to point out that bitcoin and cryptocurrencies are opening the country or the workd to newer innovations and this are something that brings investment and other income to the country. AS this is a great use gor capitalists.

Awnar

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One of the reason that I know why the governments do not make bitcoin illegal is because one they might trigger an uproar over a large crowd of people who is patronizing and using bitcoin. Second the governments might be thinking of studying bitcoin and how they can integrate it to the society, because if they made it illegal then suddenly they chose it to be legal the governments will be pressed on a barrage of questions and public opinion about their change of hearts over bitcoin.

Soros Shorts

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In most parts of the free (or semi-free) world the governments are given their power by the people who vote them in. Unless the government is a dictatorship there is a limit to what they can do to make Bitcoin illegal without running afoul of existing constitutional laws. If you are a politician who hates Bitcoin trying to introduce legislation that would essentially ban digital tokens could open you up for attack and ridicule from your political opponents.

They'd probably try to regulate exchanges and figure out how to tax bitcoin transactions rather than ban it entirely.

jerrison

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btc made its way to the top without the government and proved that it is credible and worthy to be accepted as a medium for trade and cannot be illegal but can be restricted amongst those who are yt to accept it

bettercrypto

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Government are not in sync with each other and they do not share a common interest with regards to Bitcoin and other cryptocurrency. Others just simply to attached to their system and anything new, they will automatically rejected it without even knowing the benefits they can get from it while others are too open for changes and in aspiration to take the lead in terms of technology and innovations, they gladly embrace any new technology in the market.

iyan33

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but if they are sensitive to technological advances that can support for the improvement of the economic sector they certainly (in this case the government) will support bitcoin progress, in fact some countries have declared the legality of bitcoin and this is certainly bringing a good impact for economic change on society to be more good

leonair

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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 ?

Because governments doesn't predict this is coming that Bitcoin will reach this point that it is the most valuable currency in the existence of money in history of human. They are too late in killing this thing I think because if they show the people that they want to be vanish they will just look stupid and the more you regulate cryptocurrencies the more people will think that it is worth a time. And not all governments in the world have a department focusing in this digital moneys that's why it got big.

digaran

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Bitcoin ain't no threat to no body, some body in China farts and a few hours later a big storm hits crypto, they place their agents as speculators into the Bitcoin's society and they are essentially controlling the market, they are not in control of the supply but they are manipulating the price.
All a government needs they already have it. now they are even trying to take over the Bitcoin code as well by talking about the Core team as villains and writing on placards about their $70 million debt to make it look like it's about the money.

MostafaGamal

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they have to do a lot of research before this step , but i think it's very hard now maybe next 5 years

Rinaze

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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.

Misshi

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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 ?

It is because they will also have benefit in Bitcoin so they do not make it illegal. There are many corrupt officials that may buy Bitcoin using the corrupted money. They knew people cannot track who owns that address. They can hide their money in Bitcoin. That is my opinion why government didn't make Bitcoin illegal, but also they didn't encourage all of us to buy Bitcoin.

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