Topic: why do governments don't make BTC illegal worldwide ? - page 47. (Read 8116 times)
For me government don't make bake bitcoin illegal worldwide because other part of the government is using it in their illegal work. You can track the bitcoin transaction but you can't know who are the sender or the receiver of it.
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.
I don't think that Bitcoin is going to destroy the banks. Bitcoin and banks can co-exist peacefully. Even when Paypal and credit cards were being introduced, people were saying the same thing. But it was the banks, which benefited the most out of it.
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 .
You are absolutely right. Bitcoin is perfect for hiding the wealth from the government. If the authorities try to seize our wealth, then digital assets such as Bitcoins are going to be our best bet.
Because there are some countries that feel bitcoin is even profitable for their country by way of legalizing bitcoin. There are also some countries that bitcoin because it feels threatened and can not control the bitcoin. But not all countries make bitcoin as an illegal digital currency.
The government is the body of corrupt officials who do not want to keep their feet shut because they can not benefit from it
At least European union - ECB will not touch bitcoin. To small for ECB.
https://www.coindesk.com/mario-draghi-european-central-bank-has-no-power-to-regulate-bitcoin/
https://www.coindesk.com/mario-draghi-european-central-bank-has-no-power-to-regulate-bitcoin/
It is true that bitcoin can be a real threat for all those big banks and government but they might not just ban bitcoin right now because they want people to first adopt bitcoin or blockchain tech so that they can start issuing their own version of crypto which will be controlled by them and will be centralized. After issuing their own crypto they might completely ban use of bitcoin which will force people to shift towards those fiat backed token which will not work as investment opportunity for them.
There are money reason here now but for sure if bitcoin gain so much popularity and start attracting real big and small investors that would create some noticeable actions from the real market for sure many countries will start chasing and start to study the positive and negative side of crypto so maybe we will see the implications whether its good or bad,.
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 .
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.
I don't think that Bitcoin is going to destroy the banks. Bitcoin and banks can co-exist peacefully. Even when Paypal and credit cards were being introduced, people were saying the same thing. But it was the banks, which benefited the most out of it.
Well first off not all countries have the same legal system where they judge on determining what is legal and illegal on their country. They have their constitution on being the main framework on creating a law also they based it on what can be legal or not. Making something that is widely used by their country will just hurt them. And I dont think that it can be a good option as banks have the ability to adjust and adapt for Bitcoin where they can benefit from it.
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.
Due to the decentralized nature of cryptocurrency the government can't make BTC illegal worldwide and it will not be effective .the government can ban whatever they want. cryptocurrency is the currency of internet,no bank,or company, or government is in charge of bitcoin what so ever the person who is involved is the owner of bitcoin.
One good reason why is because they cannot gain on this unless they integrate something in the bitcoin blocks wherein they'll be able to get something in every transaction a person made. For that it is impossible for the government to control Bitcoin.
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?
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.
as we all know if there is money involve here of course some government dont make it illegal because they will get some benefit on it as long and they think that in the near future it can has a large part on the society.
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 ?
"Laundry system''?
I don't think it's nice to call it that. Just see it as tool for privacy, it can be used for good or bad.. just like VPN, Tor etc
Ok I admit that governemnts wont be able to definitely stop BTC by making it illegal. But if a few big countries decide to make it illegal it will become difficult to make it mainstream because less people will dare to use it, to build businesses on it. Making it illegal will be a real break on the BTC adoption. It will remain a geek niche stuff that won't go to te moon ! Also, look what happened after China's decision to temporarily make ICO illegal ! As bad as it sounds governments are able to deeply influence BTC and crypto market ! Don't you agree with this ?
But I still have one question in my mind that many big countries have accepted bitcoin as their legal and regular digital currency like japan. Australia, and so on Vietnam is also in this list and recently I heard that Russia is also going to legalized bitcoin in Russia. Now what will you say about this. There is a conflict between the nations to legalize bitcoin or not.Some people in power don't have the capacity to understand and they can't admit it from the chair they are sitting in. Change will come with new generations sooner or later.
Its because of the tax and low demand, their are no tax paid in bitcoin thats why governement were not earning and they are not having benefits, and the demand of bitcoin is low thats why they dont want bitcoin to be legal in all countries, and the banks are under estimated.
Ok I admit that governemnts wont be able to definitely stop BTC by making it illegal. But if a few big countries decide to make it illegal it will become difficult to make it mainstream because less people will dare to use it, to build businesses on it. Making it illegal will be a real break on the BTC adoption. It will remain a geek niche stuff that won't go to te moon ! Also, look what happened after China's decision to temporarily make ICO illegal ! As bad as it sounds governments are able to deeply influence BTC and crypto market ! Don't you agree with this ?
But I still have one question in my mind that many big countries have accepted bitcoin as their legal and regular digital currency like japan. Australia, and so on Vietnam is also in this list and recently I heard that Russia is also going to legalized bitcoin in Russia. Now what will you say about this. There is a conflict between the nations to legalize bitcoin or not.Some people in power don't have the capacity to understand and they can't admit it from the chair they are sitting in. Change will come with new generations sooner or later.
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?
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.
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