why do governments don't make BTC illegal worldwide ? - page 46.

Fuhre

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Quote from: adsdas on October 01, 2017, 01:19:52 AM

because fiat money is a tool for they control all thing. If they accept bitcoin will make they speech become smaller

Your argument makes sense, fiat is everything.
The government can create the fiat at will without any limitations. In contrast to bitcoin, with a small amount of bitcoin they may have a reason not to legalize bitcoin.
As they say, bitcoin is difficult to monitor, the numbers are few.
I do not understand what they are thinking, many people expect the legal bitcoin in their country to make it easier to transact.

Bitcotalk

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Quote from: Mozdalifa17 on September 26, 2017, 11:38:20 AM

Simply that every government is looking to control the resource of wealth and defense as we all know bitcoin is against all that ,it provide totally free system where can be used everywhere without rules restriction so they are going to fight till the end china is just a start .

For making anything illegal worldwide, the governments need to come up with valid reason. For instance, smuggling is harmful to humans so it is considered a crime but earning bitcoins or keeping them in wallets does not hurt anyone.

Other than that, they also know the importance of bitcoins now. That is why some countries are accepting digital assets but I am sure they all want to control this currency also.

cafucafucafu

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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!

The thing is the worst thing they can do is shut down exchanges, ban ICOs, whatever. But to shut down or ban bitcoin itself is just impossible. Sure, they could say on paper that bitcoin is illegal but people will continue to use it. Just like when in some countries where their currencies are extremely unstable people turn to using the US dollar even though it is officially banned(e.g. Zimbabwe).

If governments banned bitcoin, people are going to continue to use it. As it is a distributed ledger, governments can't just shut it down.

jorneyflair

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Some are already doing so.

Others are making regulation stricter so that it is harder for the average Joe to gain access to bitcoin. Such as the current situation happening in China. But the reason why most aren't banning bitcoin completely is that governments know it'll be impossible.

Bitcoin is a distributed network. It can't be taken over by the FBI or something like that.

adsdas

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https://streamies.io/

because fiat money is a tool for they control all thing. If they accept bitcoin will make they speech become smaller

onrise

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Quote from: AwpDragonPoor on August 29, 2017, 04:40:14 PM

They can't. Even if they do, btc will become a black market industry, and people would still use it nevertheless.

If just considering the government declare it illegal then I think mostly people will stop using the btc because its illegal in their country and also the laws would be formed if those still deals in it. So nobody would like to face those consequences and then be in prison for things which they are not suppose to do it and waste their life in those prisons.

lentza

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Quote from: lentzaj on September 21, 2017, 09:55:10 AM

Quote from: RodeoX on September 15, 2017, 11:34:20 AM

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

I believe "lentzaj" has no room to speak on such matters because his account is stolen. I am unclear why you would acquire my account, but my name is aaron james lentz (lentz)(A)aron(J)ames. I have been dormant since July, when my email was breached. Also missing .20BTC from my kraken account. The .20BTC is gone, I understand. I would hope an opinionated individual, as yourself, would appreciate true ownership and not theft. I believe candidates, like yourself, give crypto a bad name. You should steal Terabox's, or better yet, Mt.Gox account instead.

dynospytan

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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 ?

Yes you are right. I think why some governments are not in favor to legalize the bitcoin is because when you earn bitcoin it has no tax. As we know the salary and projects from the government officials came from our taxes. In our modern society now there are many corruptions maybe because they cant also get any kickback on bitcoin thats why they dont want to legalize it.

Indrawan77

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It is true that bitcoin dont give too many advantages for government, the bitcoin make the government cant track the transaction and it decrease the tax income, but bitcoin also help the country from poverty and unemployment and bitcoin potential is still so big to explore, so it can be very advantage if the government know how to handle crypto currencies properly

Superways

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Quote from: bitcoinvestor on September 29, 2017, 09:07:35 AM

Quote from: eternalgloom on August 29, 2017, 01:57:57 PM

Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.

But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/

That is only idiot government that ban bitcoin, if all countries ban bitcoin all government are idiot. What should they ban, exchangers, or bitcoin network, if bitcoin network, they can't they can ban exchangers. Not all governtment are idiot. I don't think any government can stop the growth of bitcoin with million users or holders now.

No government wants to ban such a profitable coins they all know its benefits and they don’t want to lag in the field of development and governments knows that this coin is bringing business to their region and this coin enhanced the living standard of their citizen so there is no logical reason to ban if they do so citizens of that country will oppose and come onto the roads,

bitcoinvestor

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Quote from: eternalgloom on August 29, 2017, 01:57:57 PM

Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.

But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/

That is only idiot government that ban bitcoin, if all countries ban bitcoin all government are idiot. What should they ban, exchangers, or bitcoin network, if bitcoin network, they can't they can ban exchangers. Not all governtment are idiot. I don't think any government can stop the growth of bitcoin with million users or holders now.

Barbercash

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Quote from: eternalgloom on August 29, 2017, 01:57:57 PM

Why make it illegal if you could just regulate it and get taxes from people who make money with Bitcoin?
That's a whole lot of revenue for the government that they would be missing out on if made illegal.

But Bitcoin is actually also illegal in a couple of countries: https://atozforex.com/news/top-countries-where-bitcoin-is-illegal/

Fully support, Govs are in search for best ways to regulate it. Smart govs will not prohibit it but gain profit.

Desscount

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ComboLabs

basically will not be able to fight the progress of science and technology. if governments and banks now declare war on bitcoin. gradually they will be involved and inevitably involved.
as the bank grows, it will leave its customers to choose the simple and easy option.

RodeoX

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The revolution will be monetized!

Quote from: bearexin on September 29, 2017, 01:44:58 AM

Quote from: RodeoX on September 25, 2017, 10:03:59 AM

Quote from: lentzaj on September 21, 2017, 09:55:10 AM

Quote from: RodeoX on September 15, 2017, 11:34:20 AM

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Your examples all have sound reasoning and legal justification. Round-up should be banned. It is unproven technology that could have devastating effects on the future of all plants.
A bicycle helmet is required to ride the bike paths and roads where I live. Why? Because the government owns the roads and as such they can make rules to keep the roads safe.
As for money laundering, that is already against the law and the gov can do whatever it needs to to stop money laundering, but not just ban bitcoin because it COULD be used that way. Just as the gov can't ban baseball bats because they could be used to beat children.
Maybe not all of them, but legitimate governments need a reason to ban something.

If people are using it for unfair it is not the fault of bitcoin it totally depends on the user and governments can make checks on the transaction and investments rather than to ban such a profitable business and ban is not the solution to the problem the true investor will suffer this decision and bitcoin never wants to let down its investors.

I completely agree. That is why this sort of ban is only likely in countries without civil/financial rights.

ronafurw

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Quote from: aplistir on September 14, 2017, 12:17:01 PM

Quote from: inoes on September 14, 2017, 07:03:39 AM

just quotes from bitcoin gospel

'' the government is afraid if bitcoin is used for criminals , but the truth is that the government is more afraid if we use bitcoin ''
and I think the government is still a lot coming from the old era and they have difficulty understanding the technology for the future

criminals, and eg. north korea can use bitcoin.

But the most worrying thing for governments is that they cant steal bitcoins from their citizens.
The most usual way of stealing is printing more money, which reduces the value of everyones money.

Banks actually try to keep inflation in about 2%.
As an exercise it is an interesting idea to calculate what happens to the value of money in 100 years if the yearly inflation is 2%.
0.98^100=0.13 and that means that every dollar will be worth only 13 cents after 100 years. That is the biggest robbery in the world.

Government cannot ban bitcoins because they know that it will be the most power coin in the coming future. Many of countries are now thinking of adopting it and progress as much as they can so there is fruitful tree no one will ever want to cut it as it is giving benefits to their citizens and their citizens are trading in it so that the country can prosper more.

Vness10

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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 ?

I think because they want to protect their own currency, they want to protect their people to fraudio and because in their own law. They scared that bitcoin will use in money laundering.

bearexin

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Quote from: RodeoX on September 25, 2017, 10:03:59 AM

Quote from: lentzaj on September 21, 2017, 09:55:10 AM

Quote from: RodeoX on September 15, 2017, 11:34:20 AM

On what legal grounds?

Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?

You don't need to live in a totalitarian and communist regime to experience banning of something. In EU for example, laws have been voted to ban glyphosate (Monsanto Roundup) use for example. In some countries of the free world some gov's plan to make the use of a bicycle with helmet illegal so why not BTC ? If a government judges it as a tool for money laundering they can decide to vote a law to make its use illegal.

Your examples all have sound reasoning and legal justification. Round-up should be banned. It is unproven technology that could have devastating effects on the future of all plants.
A bicycle helmet is required to ride the bike paths and roads where I live. Why? Because the government owns the roads and as such they can make rules to keep the roads safe.
As for money laundering, that is already against the law and the gov can do whatever it needs to to stop money laundering, but not just ban bitcoin because it COULD be used that way. Just as the gov can't ban baseball bats because they could be used to beat children.
Maybe not all of them, but legitimate governments need a reason to ban something.

If people are using it for unfair it is not the fault of bitcoin it totally depends on the user and governments can make checks on the transaction and investments rather than to ban such a profitable business and ban is not the solution to the problem the true investor will suffer this decision and bitcoin never wants to let down its investors.

BitFinnese

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Quote from: super5star on September 28, 2017, 02:20:02 PM

Quote from: Ayiranorea on September 21, 2017, 10:36:52 AM

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Because there is no fault in bitcoin it is not doing anything wrong so why to ban such a profitable coin which is giving profit to the people and they are happy of it. Every government prefer the citizen to take decision and all are with bitcoin so no logical reason to ban such a profitable business.

True, Bicoin is just a program or a set of code that is used as a currency, it does not promote terrorism or fraud because it is too transparent to be used. Those people who used it for illegal stuff will be tracked and eventually arrested. Government had seen how transparent Bitcoin is and see no reason to make it illegal. Those that set it illegal are just scared that their wrong doings will be revealed once their people know about Bitcoin.

super5star

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Quote from: Ayiranorea on September 21, 2017, 10:36:52 AM

Bitcoin is full of risks involved, starting from the virtual presence without a physical state to the risk of hacking. When a central controlled investment scheme goes as a scam, the people complain and the government take necessary action. With bitcoin lost is lost forever one can't raise it as an issue anywhere else. This makes governments stay away from bitcoin.

Because there is no fault in bitcoin it is not doing anything wrong so why to ban such a profitable coin which is giving profit to the people and they are happy of it. Every government prefer the citizen to take decision and all are with bitcoin so no logical reason to ban such a profitable business.

ekoice

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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.

Topic: why do governments don't make BTC illegal worldwide ? - page 46. (Read 8116 times)