For some countries Bitcoin is not something positive, and it is considered Bitcoin to be widely used for illegal activities. Therefore, several countries
use this excuse to ban Bitcoin. Even though what is done by these countries is wrong, and only makes them fall behind in the blockchain technology
used by Bitcoin. There may also be some countries that prohibit using Bitcoin, because they are afraid that Bitcoin threatens their currency and
ultimately cannot control the finances of the citizens of that country.
Topic: Why government not take good step? (Read 438 times)
They have took a good step, especially in my country and seem like in some countries in this world as well. The government have been regulated the utilization of crypto currency and they included it as a commodity.
So as until now I have no problem when using bitcoin in my country, the government have given me a freedom to take a chance and make bitcoin as my source income. Yeah, I do day trading so far, I have no job in my real life dou to dismissed because coronavirus.
So as until now I have no problem when using bitcoin in my country, the government have given me a freedom to take a chance and make bitcoin as my source income. Yeah, I do day trading so far, I have no job in my real life dou to dismissed because coronavirus.
Government is always telling people how risky getting involve with Bitcoin is for the reason that there are still government of other countries who still do not fully understand the nature of Bitcoin for what they know are the possible negatives that can be brought by Bitcoin that in fact people using it as a platform for illegal transactions must be blamed and not just barely Bitcoin alone. Also, government is wanting an overall control over currencies circulating in the country that they cannot handle with Bitcoin for they cannot do such thing with that. Government is wanting to have a touch of their power on something that is being valuable to its people. But since they cannot achieve such, there are countries who have still government not allowing the legal usage and massive adaptation of Bitcoin to occur.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
Governments will not allow anything they cannot control to exist but Bitcoin is strong enough to ever beat them whatever regulations they implemented. What should the government do is to adopt Bitcoin as a new payment system and let them regulate local exchanges for anti money laundering activities. No matter how hard they try to make strict or even ban Bitcoin they can never stop users to embrace Bitcoin. So, I think now the government should take a good step.What do you think about it?
Actually it's not government, but banks are forcing government to keep full stop to this only because of high volatility they need to understand that people are investing on this only because of the betterment of their future.
The government can regulate the use of Cryptocurrency by making exchanges which provides information about everyone who bought or sold those coins through their service (KYC). But most of the government don't think in the same way, BTC is no control over government that's the reason they are not making it legal.
The government can regulate the use of Cryptocurrency by making exchanges which provides information about everyone who bought or sold those coins through their service (KYC). But most of the government don't think in the same way, BTC is no control over government that's the reason they are not making it legal.
I am pretty sure that most if not all governments dislike all kind of cryptocurrencies, but sooner or later they will have to accept it.
Yes, it might be the case but the actual issue is the illegal use of cryptocurrency and the government can't be able to control it, so they want to make it legal.
Its obvious that each country develops its own currency. What is the point for them to divert the focus from their currency to some unknown and unexplored currency that is popular in the digital space. So it also gives some kind of secrecy for people, which could be worse for the state. Of course they will fight it, or just ignore it, but not promote it in any way. I think the reasons why the state does not promote bitcoin and the like.
Every government wants everything to be under their control. With bitcoin this isn't possible, and that's the reason why most of the governments doesn't take a good step forward with some supporting mass adoption of bitcoin and legalizing.
With time more changes have been taking place with the bitcoin and other cryptocurrency network. More countries that are against cryptocurrency in the past are now with plans of accepting and adopting bitcoin. So, in future we can expect bigger change from governments that are against cryptocurrency at present.
With time more changes have been taking place with the bitcoin and other cryptocurrency network. More countries that are against cryptocurrency in the past are now with plans of accepting and adopting bitcoin. So, in future we can expect bigger change from governments that are against cryptocurrency at present.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
Why you want the government to take steps in the market. I want the government far away from it as bitcoin is meant to be a decentralized currency and we do not want the government to step in and manipulate the market in the name of regulation So, I think now the government should take a good step.What do you think about it?
. Regulations are inevitable as the governments around the world want to have a share of the market and with the price of bitcoin soaring to new heights we might see the regulations even if we do not want them.
Because the government still considers Bitcoin as a tool for money laundering and wants to control it.
It's not a crime if they're laundering money. It's their money, they can do whatever they like, but you are going to be put in jail for doing the same thing.
In China you can be put to death for counterfeiting money, which is one of the most bizarre things in the modern world. They print money, but if you do the same they'll kill you. They pretty much remained in the middle ages with laws.
Many countries have banned abortions or marijuana while in others it's totally legal. Laws will always be different in different countries, unless all of humanity will get united under a single government. I don't think you can really expect Bitcoin to get unbanned just because it becomes more popular, in fact it could be a reason to keep it banned, because those governments have weak national currencies and they are afraid of their economy switching to Bitcoin.
Bitcoin does not reach most people. First, most people know that bitcoin. After those people easy to use and connect all country peoples. Then easy to reach the all-county people and GOVT will be accepted coming future. Bitcoin is a digital currency. So it easy to use all county and easy to exchange any county currency.
It's not so easy to take a good step about cryptocurrency now. It will take more time when people will know and use crypto more in their real life. Then govt may think about that take necessary steps to make it reliable and safe for people. In the future Governments of maximum countries may consider cryptocurrency as safe online money.
It seems to me now that most of the people in the countries do not khow about cryptocurrency properly and do not understand how to use it properly.so, maybe the government is not able to take any good steps for cryptocurrency.However, it is expected that by 2030 the government will take good steps towards cryptocurrency and many countries will then feel comfortable using cryptocurrency. 
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
The main reason for this is maybe the anonymity of Bitcoin.
Government is a body which works with full transparency.
So i guess for this reason, many countries governed still claim cryptos as illegal.
But yes soon we are seeing good progress on adapting these coins as legal asset in many countries.
Hope to see Soon that BTC is legal everywhere.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
They don't make any benefits from Bitcoin that is why they wanted to stop the growth of Bitcoin. In fact, they have been talked about controlling Bitcoin and make this a centralized currency and the good thing is that they fail because there is no support given from crypto holders. So, I think now the government should take a good step.What do you think about it?
But maybe we are so lucky that it is not banned in our country, people can freely use it to spend buying stuff and any online payments.
Govs dont like money that nobody can control. Thats the main reason of btc ban in some countries. They too afraid of it. And to be honest i dont know how btc legalize can push countries forward
It's not so easy to take a good step about cryptocurrency now. It will take more time when people will know and use crypto more in their real life. Then govt may think about that take necessary steps to make it reliable and safe for people. In the future Governments of maximum countries may consider cryptocurrency as safe online money.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
Three things what I think the reason on why government didn't take any good step towards bitcoin and that is
1. They don't know how to regulate it.
2. Or they simply don't care since they some of them doesn't know that this coin exist.
3. Volatility is the main concern that's why they didn't do anything about it yet.
Crypto is not something that they will accept easily, they have their own standard of law, but you know we should be happy as big countries are very open with accepting cryptos and the fact that institutional investors are risking their money on bitcoin as their investment, it's already a great start or a sign that we will see a massive adoption in the future, those countries who have not adopted with bitcoin yet might be left behind.
The truth is that, no government will move forward by using Bitcoin or in other words no government will adopt Bitcoin because they can't control it and because they lack the power to control it, they will rather look for ways to ban it or restrict it. Many governments are already tagging Bitcoin and other cryptocurrencies with criminal activities and so on, but yet Bitcoin kept growing despite whatever they say. Thus in essence, owing to Bitcoin decentralization, no government will adopt it but might set regulations in which platforms can adopt it for payment purposes as seen in some platforms already but to adopt it in full scale, they won't. Lastly, what I also think is that, invest in your Bitcoin and forget about the government adopting it because it will not happen.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
One of the most obvious reasons for this is the anonymity of bitcoin transactions. As it is decentralized, it is difficult for the governments to regulate it. Other reasons could be, it might be used for money laundering, on the deep and dark web for illegal activities, and for funding terrorists.
Instead of banning and not supporting bitcoin I think it's time for them to adopt bitcoin and better to accept it because if they accept it people will trust more to the bitcoin and their people's will invest because the government recommended the bitcoin. But it's their choice if they want to against to the bitcoin or support it. My country recognized bitcoin last few years ago and our government are supporting crypto which is good to see.
I also feel surprised if there are countries whose governments prohibit using Bitcoin, even though Bitcoin does not threaten the existence of fiat.
And it has even been proven that Bitcoin has had many positive impacts for its users, even in some countries it has been proven that Bitcoin can
help the economy. So if there is a country that has banned Bitcoin, the government of that country is just being selfish. do not attach importance
to its citizens. Besides, I think it's useless to get banned Bitcoin, because there are always ways to use Bitcoin. Fortunately, my country legalized
Bitcoin, even though it was only a digital asset. Hopefully in the future the government of my country will allow Bitcoin as payment too.
And it has even been proven that Bitcoin has had many positive impacts for its users, even in some countries it has been proven that Bitcoin can
help the economy. So if there is a country that has banned Bitcoin, the government of that country is just being selfish. do not attach importance
to its citizens. Besides, I think it's useless to get banned Bitcoin, because there are always ways to use Bitcoin. Fortunately, my country legalized
Bitcoin, even though it was only a digital asset. Hopefully in the future the government of my country will allow Bitcoin as payment too.
I am pretty sure that most if not all governments dislike all kind of cryptocurrencies, but sooner or later they will have to accept it.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
They don't do it simply because they cannot get anything from it. Maybe they didn't get any offer from exchanges that operate in your country or they just don't want such volatile investment to operate in your country. some governments are strict because they are protecting the citizen from their bad side. we all know when bitcoins introduced to some of the countries there are lots of scammers who took that opportunity to scam people. they have their own version of investment methods and often these scam methods will become popular than the legit ones.
Mindset, when we talk about mindset then that will not make the reputation of bitcoin to grow.
If the government think that bitcoin is a scam and can't do nothing to their economy then that will not make them adopt on its dominance in the market.
Governments are probably scared of risking some of their budget for that, they don't want to allow digital currencies to enter their economy and they just want to have a traditional currency such as fiat. If they will not maintain that kind of mindset then probably they will have a slower development in the near future.
If the government think that bitcoin is a scam and can't do nothing to their economy then that will not make them adopt on its dominance in the market.
Governments are probably scared of risking some of their budget for that, they don't want to allow digital currencies to enter their economy and they just want to have a traditional currency such as fiat. If they will not maintain that kind of mindset then probably they will have a slower development in the near future.
~they just can't have control over anything and therefore consider it as a threat.
in this case, I think the government is doing its best to safeguard its sovereignty as a state. I respect the decisions of some governments that limit the use of cryptocurrency or BTC because they are concerned about illegal matters related to money laundering, the dark web, illegal arms trade, drugs, etc.the restriction mostly relates to its use as currency. while its use as a trading and investment commodity is still allowed. In fact, the government is aware that bitcoin and other cryptocurrencies have benefits, but there are negatives to watch out for, that's all.
Because the government still considers Bitcoin as a tool for money laundering and wants to control it.
That's not the problem actually, that's just their excuse, they're making it look like as if there's no many other ways of laundering money.
They're merely trying to protect the easy income that they get in form of different sort of fees from their banks, and in addition the control that they will have over their people using such a centralized financial institution, since crypto does all of those services in a centralized manner for a very small fee(which all of them goes to the miners and nodes that secure network) that is nothing compare to traditional banking fees and all the unnecessary paperwork.
It's decentralized and that's enough reason for the government to not officially recognize it as a currency. Moreover, just look at the news about the IRS want to pay huge chunk of money to whoever able to crack Monero. although Monero is kinda different compared to bitcoin but I can see why they don't want to recognize crypto as real currency, they just can't have control over anything and therefore consider it as a threat.
Because the government still considers Bitcoin as a tool for money laundering and wants to control it.
So, I think now the government should take a good step.What do you think about it?
They should, but they never will.
That way their one of the main sources of income and control over people(banks) would be almost useless, cryptocurrencies takes the control from governments and give people a decentralized way to make transactions without governments tracking their every move, and they also make transactions in a way that is cheaper, faster, more private and secure and without any restrictions regardless of where you live or where in the world do you want to send your funds to.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
what steps do you think they should take?
fully legalize crypto/bitcoin?
I think that's impossible, because crypto is decentralized. meaning they can't control it. and it could be that in the future crypto will have a negative impact on them. by not accepting or forbidding it like this was more than enough.
Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.
Indeed, crypto is a currency they really have no way to handle, those illegal transactions can be made. When I said illegal I mean ILLEGAL like drug payment, etc. They obviously concerned about the breach in security, and I think they might found solution in this problem as they are in need to adopt to this as crypto is arising exponentially high in these coming months and years.
Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.
In bitcoin, you really have financial freedom and you can't do what you want with your asset.
The reason why government is prohibiting it is that they can't take benefits from it from other people.
They can't collect taxes from it which is not an advantage for them.
But government should see the benefits and advantages of bitcoin in the economy and market.
Simple, the reason why the government did not adopt cryptocurrencies is that they don't have full control over bitcoin. Through this, they can't force to implement to pay tax those bitcoin holders or users. That's why the government cant adopts cryptocurrencies.
But there are some countries that are bitcoin-friendly, they recognized bitcoin as an alternate mode of payment or they recognized this as also a very risky form of asset. Besides, in my country, they had warned our people to be careful of investing in bitcoin but they never adopt it or even start to take a good step which is we understand the causes.
But there are some countries that are bitcoin-friendly, they recognized bitcoin as an alternate mode of payment or they recognized this as also a very risky form of asset. Besides, in my country, they had warned our people to be careful of investing in bitcoin but they never adopt it or even start to take a good step which is we understand the causes.
Yes you are true. Bitcoin is not legal in many countries. Reason is only that Government has no control over bitcoin market. And also Government want that peoples tradung on the way which help their state bank ko grow so if people trade on cryptocurrency they will not getbprofit from people trades as we know bitcoin is totally decentralized system.
Some countries is in favour of bitcoin but most countries should support bitcoin to make it legal for payment system.
Some countries is in favour of bitcoin but most countries should support bitcoin to make it legal for payment system.
Less ways for the criminals in getting some options I guess. Countries that banned cryptocurrencies are probably playing safe and afraid of the risk of using cryptocurrency. It's not like there's a lot of them though and as time goes, there's going to be one or more countries that will legalize Bitcoin when they see other powerhouses utilizing Bitcoin.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
The authority should dig deeper what's advantage with bitcoin, banning or making it illegal won't help us grow or even make our economy better. Nowadays, people seems to be watching out the benefits that they've been experiencing though Bitcoin's convenience in terms of profitability. Even though they can't control this currency, but every person would always tend to spend their money came from bitcoin into taxable product which needs fiat money to purchase with.
I don't see a concrete reason why these countries are banning their countrymen from using Bitcoin or crypto in general.
Their word of mouth, is "bitcoin is used for drugs and illegal activities (use to support terrorism)", "decentralized nature", and "volatility" where in fact they're somewhat true. But the question is why rich countries such US, Japan, and UK welcome bitcoin and other countries such nepal, china, bangladesh don't? I only guess is they only avoid responsibilities and the works behind it and ofc the control over any currency, which they can't on any existing cryptocurrency.
To be honest this will never happen. Reason is simple taxes... you see on daily bases in any monetary transactions we are paying taxes to the government in one way or other. But in case of Bitcoin Governments will not have any chances of monitoring or collecting any such taxes.
So logically speaking Bitcoin is never going to be mainstream if governments not collecting any money they can't support public, they can't built any infrastructures. So if there's nothing for government they will not accept it, which make sense... so at the moment Bitcoin is just a store value. ATM The total market value of a bitcoin is very very small compared to major player of this "store value" game which GOLD.
Recently WSJ compared the market value of Gold vs Apple vs Bitcoin
As of today Bitcoin market value is $609 billion. Still very very small compared to Gold.
So logically speaking Bitcoin is never going to be mainstream if governments not collecting any money they can't support public, they can't built any infrastructures. So if there's nothing for government they will not accept it, which make sense... so at the moment Bitcoin is just a store value. ATM The total market value of a bitcoin is very very small compared to major player of this "store value" game which GOLD.
Recently WSJ compared the market value of Gold vs Apple vs Bitcoin
As of today Bitcoin market value is $609 billion. Still very very small compared to Gold.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
I don't see a concrete reason why these countries are banning their countrymen from using Bitcoin or crypto in general.So, I think now the government should take a good step.What do you think about it?
What "good step" are you talking about that the government must do?? Regulation?? Possibly in the future but as of now, what governments can do is to just support them and those countries who banned Bitcoin from using must be removed.
Government only do things that will be beneficial for the citizens, they will have to evaluate to see if having btc as a means of payment will be good for the economy, I don't think it is all about the price but how the whole economy will fit into using btc,
I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.
I would like to correct the part about government doing it for citizens, there is a hierarchy of those that are benefiting from government decision, on the top is the 1%, second is those in power, those with some money, the citizen and then the poorest of the poor. If they ever lay their hands on bitcoin, the reason for that is that they want to control the transactions that are happening in their country, you do not want a rowdy bunch of citizens so you will put a regulation to help them to be put in their place. I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.
Government only do things that will be beneficial for the citizens, they will have to evaluate to see if having btc as a means of payment will be good for the economy, I don't think it is all about the price but how the whole economy will fit into using btc,
I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.
I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.
Governments want to control and taxes. Bitcoin will almost help you avoid both, while you could achieve it 100% with truly anonymous cryptos, VPNs in a different location, VPS, DEXs, and more. Thus we will face more and more restrictions for more countries.
Why don't they step harder? Governments can forbid crypto but cannot stop it, so it could only give them a bad image.
Why don't they step harder? Governments can forbid crypto but cannot stop it, so it could only give them a bad image.
In my country no bank will let clients send or receive cash to crypto exchanges .... very costly to buy or sell BTC now.
Not like before 2019
I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .
Not like before 2019
I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .
Can you still access services like hodlhodl or bisq or are those also unaccesible?
Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.
Bitcoin is biggest escape for black money holder or what can I say people who are too rich and want to avoid taxes will gamble their money into bitcoin very easily. If everyone starts to do this, or even a common man who is salaried but willing to spend his 10-20% of salary into bitcoin then government will loose big chunk of tax over the period if you combine whole nations output.
I am not sure if you guys are imagining exactly what I’m saying but this could be disturbing fact for the government for sure. So it’s notable why many countries are going against it.
In my country no bank will let clients send or receive cash to crypto exchanges .... very costly to buy or sell BTC now.
Not like before 2019
I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .
Not like before 2019
I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .
Government has no control over bitcoin so it scares them because they are use to having some measure of control over all financial sectors. Does it scare them enough to ban it or try to prohit it? Depends on where you live but it is obvious bitcoin channels the common desire for humans to be in control of themselves.
Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.
Hahaha but total true in the dark web they are using crypto to buy some illegal stuff like "Silkroad" and most of it cant be tracked
in my country bitcoin is a commodity
Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.
I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.
So, I think now the government should take a good step.What do you think about it?
So, I think now the government should take a good step.What do you think about it?
Jump to: