Topic: why do governments don't make BTC illegal worldwide ? - page 49. (Read 8116 times)
What is the point of making the bitcoin illegal throughout the world? Why want to bring the bitcoin closer to the authorities and the state? It is precisely its interest, make it available to all and avoid any intervention of the state in ... Countries should have no rights on it and therefore should not judge whether or not they find it legal ... there are really people who have a hard time understanding the principle ...
I believe each government are independent from each other when it comes to nation ruling and law implementation but I can say developed countries have strong influence to other country. If one country make BTC illegal, it does not necessary make Bitcoin illegal to other countries since it is only applicable inside that country. Besides each government leaders have different perspective so that is the main reason why governments does not make BTC legal or illegal worldwide.
The way I see it world government's will not allow uncontrollable currencies to thrive in the world market. Current fiat currency is how they have controlled the world for ages and they are not going to just give up that control. They way they maintain the control is through taxes, and exchange. As long as they have the ability to ban the exchange of 3rd party currency from current primary they can kill what ever currency comes their way.
That's how they kill bitcoin, by taking away the ability to exchange it with primary government currency. They can keep any business from accepting it by 1 making it impossible to exchange for government currency what ever that may be.
2. Making it impossible for the business to pay taxes with it. If they can't pay taxes with it, and they can't exchange it into something that you can pay taxes with. Then its worthless for them. Intern its worthless for us. It will only ever bee a p2p currency.
Bitcoin and all associated, blockchain crypto currency is never going to be allowed to thrive unless world governments can control it. As of right now they can't and so you will start seeing exchanges being killed one by one.
That's my opinion. Do I own bitcoin yeah... lol I hope it works I really do. I just doubt it.
That's how they kill bitcoin, by taking away the ability to exchange it with primary government currency. They can keep any business from accepting it by 1 making it impossible to exchange for government currency what ever that may be.
2. Making it impossible for the business to pay taxes with it. If they can't pay taxes with it, and they can't exchange it into something that you can pay taxes with. Then its worthless for them. Intern its worthless for us. It will only ever bee a p2p currency.
Bitcoin and all associated, blockchain crypto currency is never going to be allowed to thrive unless world governments can control it. As of right now they can't and so you will start seeing exchanges being killed one by one.
That's my opinion. Do I own bitcoin yeah... lol I hope it works I really do. I just doubt it.
Government don't make Bitcoin illegal world wide because it is not deal by people with government it has its own was through internet. If one country ban you will go to the country who accept Bitcoin so you cant control it. That's the reason it wont be illegal anymore. GOOD LUCK EVERY BODY.
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 ?
the problem is not as trivial as you ask. legal and illegal is a discussion that needs to be reviewed by the government agency concerned.
so every country does not necessarily give a decision before there is discussion and study of the people or agency concerned.
To me, it seems there are enough smart people that have endorsed the technology as potentially as game changing as the Internet. Governments that rely on free market economies need innovative technologies that can add a huge number of jobs and wealth to the economy. Groups like the Chamber of Digital Commerce and high-profile companies like Microsoft building platforms using blockchain technology goes a long way towards keeping governments from banning it.
... governments have no real control over Bitcoin. there must be a special government agency to prevent the use of bitcoin for illegal transactions.
And do you honestly think that when we will have Bitcoin Agency, Cryptocurrency Agency or whatever this cell would be called, then the legal problems caused by the core nature of bitcoin will be over?After all, we have Police and IRS - I don't think that this ever prevented people from doing illegal activities or stopped someone from using the money for illegal transactions.
The only way to control bitcoin is to regulate every bitcoin satellite service and even that might not be enough to curb the illicit behaviour.
Governments can ban Bitcoin, but the ban cannot be very effective. So, typically, they use other means to discourage Bitcoin ownership and trading.
Governments can ban whatever they want. But cant enforce it. Any government can declare cryptocurrency illegal but it will have no affect since they cannot control it due to the decentralized nature.
They cannot stop reality or the laws of economics though. All they can do is create black markets because where something is in strong enough demand people will use it despite the illegality.
Governments can ban whatever they want. But cant enforce it. Any government can declare cryptocurrency illegal but it will have no affect since they cannot control it due to the decentralized nature.
They cannot stop reality or the laws of economics though. All they can do is create black markets because where something is in strong enough demand people will use it despite the illegality.
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 wont make it illegal because crypto-currencies have a huge market capital ,this wont be good for any economy that has high amount of crypto-currency users like China,US ,UK or just any other country . Central Banks are studying on crypto currency is what I came across,I dont know whether its a rumour or if its for real. But what ever happens countries wont make such a move against cryptos especially bitcoin.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 ?
Well isn't this question worth discussing at the moment?
I really did NOT think China would actually ban Bitcoin. That is messed up... and I wonder what all of the miners are going to do. What is going to happen to the network? Or is it still legal to mine?
Anyway, hope that exchange that closed down opens up again at some point. Not a good day for Bitcoin, that is for sure.
I really did NOT think China would actually ban Bitcoin. That is messed up... and I wonder what all of the miners are going to do. What is going to happen to the network? Or is it still legal to mine?
Anyway, hope that exchange that closed down opens up again at some point. Not a good day for Bitcoin, that is for sure.
The decentralized and anonymous nature of bitcoin has challenged many governments on how to approve legal use while preventing criminal transactions. This means that governments have no real control over Bitcoin. there must be a special government agency to prevent the use of bitcoin for illegal transactions.
Thinking this would be a nightmare for me. I'm a legal user of bitcoin and without legal purposes, bitcoin is pointless for me.
Another worst thread in this section. These kind of bitcoin trolling thread should be closed. If there is guys been part of this long tern or atleast before that last year halving. They can understand the growth of bitcoin from that time to now and when we facing economical growth issue, we should support the bitcoin.
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
'' 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.
Thinking this would be a nightmare for me. I'm a legal user of bitcoin and without legal purposes, bitcoin is pointless for me.
I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !
You cannot make Bitcoin illegal. You must be in your 20's. 
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 ?
I think you can ask the government agencies.
and I can not answer your question. as I know, bitcoin is a virutal currency, and many benefit the people involved.
Now countries heared about you and your thought and started to ban ICOs. I hope you are ok now 
Not every government sees bitcoin as a threat.
Most of them actually do not. Why should any of these play with the thought of making it illegal.
There are only a few contries where the government fears bitcoin could be a danger when people use it to bring money out of the country.
Unfortunatelly China is one of these countries.
Most of them actually do not. Why should any of these play with the thought of making it illegal.
There are only a few contries where the government fears bitcoin could be a danger when people use it to bring money out of the country.
Unfortunatelly China is one of these countries.
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.
Because Bitcoin is not a major concern for them. Just a minor concern, a niche used by smart people as inflation shield.
I do not agree with you. If you look at all BTC related charts you'll see a growing users base, growing exchanges, growing value, growing market cap, etc... It is no more a gadget for smart and geek people. It is slowly getting mainstream. Governments could soon see it as a serious problem and make the use of BTC really hard by banning exchanges, BTC ATM, ....
Indeed!
As Jamie Dimon, CEO of the most active bank of the United States, JPMorgan, recently said : "the future of the cryptocurrencies will not last long since it is difficult for countries to regulate".
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