why do governments don't make BTC illegal worldwide ?

[lentzaj]

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, ....

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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 some government believe that bitcoin in their country will be a big thing that can of course help them to grow up their economy. Many people use bitcoin nowadays because of its different and very unstable value that can make your money big. But of course bitxoin has also a disadvantage but despite that people will surely use it as well as the government.

[christsstrong]

Bitcoin is reducing unemployment a bit and also creating job opportunities. May be thats why.

[Kousei23]

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 easy because eventhough governement doesn't hold bitcoin they also have the power to earn ir in very special way. And of course governments are also using it in able to earn extra income. They will not banned bitcoin in theor country because they see bitcoin is a very advantagable thing and not negative thing.

[glowing10]

Because Bitcoin is not a major concern for them. Just a minor concern, a niche used by smart people as inflation shield.

No its not a major or minor related to it. Infact its a major concern for government because chances of misusing can be high. Already all the government of the countries have enough work to take care of it and why they would like to take on additional work and create laws and keep a track of some thing which can be easily ban and get rid of it. Due to which it has already ban in few counties.

It has huge advantages too but I dont think government would be much bother about it.

[RodeoX]

Because they can't. There has never been a practical idea proposed. It is simply not an option.

[BenOnceAgain]

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 ?

Many countries want an out from the USD based hegemony that has existed since Bretton Woods and intensified since the petrodollar scheme, but want to get out as painlessly as possible for them.

I think you'll see countries take a variety of different tactics with BTC and other cryptos.  Some will ban, some will regulate.  Many will tax, lol.

[dmamigo]

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, ....

Bitcoin may not be banned, but yes if key countries take steps against Bitcoin, the other countries might also do the same. Mostly I believe it will be regulated, Bitcoin became very important to many peoples, we have to admit it helped in business as a new transaction option.

[severaldetails]

First of all, I don't think that governments are very good in working together.
And then I think that crypto currencies are a problem mainly for those governments, where the crypto currencies are used the wrong way.
There are many examples like Japan or Switzerland where the crypto industry fits perfectly into the economy.
Those governments have no reason and no interest in banning bitcoin.
In China on the other hand many people got scamed with ICOs and the people use bitcoin to move bigger parts of their money abroad.
That is harmful to the economy in China, and I can't blame their government if they think about ways on how to contain that capital flight.

[Core.BUSTER]

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/

I agree that they could not regulate the taxes becuase bitocin is decentralized and governments think that bitcoin is a scam even though its not a scam. In addition to that, I think that using bitcoin is a tax free. Lastly, I hope bitcoin will be illegal in all country in the world.

[kkent]

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/

I agree that they could not regulate the taxes becuase bitocin is decentralized and governments think that bitcoin is a scam even though its not a scam. In addition to that, I think that using bitcoin is a tax free. Lastly, I hope bitcoin will be illegal in all country in the world.

Legally speaking, some countries tax your bitcoin and not disclosing possession is tax fraud. It is up to the individual user if they think they can get away with it.

[Soul Master]

China seems to be an example of a government trying to do this. The point is, when you try to stop technology that helps people, you only create problems for yourself.

[Dannaey]

Bitcoin is the first decentralized P2P network that is powered by its users with no central authority or middlemen. That is why government is afraid in cryptocurrency because of lack of central authority. Government has control over fiat currencies. This control will lose when non-government entities create their own currencies.

[Bitcotalk]

the government can regulate it if they stop regulating fiat currency. Adapt change and apply the new system for exchange which is crypto currency.

Governments can’t make BTC illegal worldwide because they know that they it is impossible for them to stop people from investing in BTCs and being a virtual currency it is more secured and easily transferable then any of the physical currency in the world. One day BTC might become a global currency in future.

[DoublerHunter]

The governments doesn't make bitcoin as illegal worlwide because there is no clear proof that bitcoin is crossing any law and making bad effects to the people. They don't have any proof that can make bitcoin as a bad looking currency because bitcoin is a really good currency and most of the people are now using bitcoin so they can't do anything about it but to just accept that bitcoin is slowly revolutionizing and accepting bitcoin is one of the things that they can do to adjust their system.

[christsstrong]

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 ?

Many countries want an out from the USD based hegemony that has existed since Bretton Woods and intensified since the petrodollar scheme, but want to get out as painlessly as possible for them.

I think you'll see countries take a variety of different tactics with BTC and other cryptos.  Some will ban, some will regulate.  Many will tax, lol.

I an't recall but I heard that some countries officially started crypto currency as their official currency. I think when USD is not used as hegemoney anymore, then 3rd world war will start. At the end of it crypto currency will rule.

[longml]

The government is the body of corrupt officials who do not want legcoinized because they can not benefit from it. But if the changes for many years may not be comfortable for us. They will adjust and control us and it has a price like what I know. Taxes are made and even our identities are public and that is never good.

[Babyrica0226]

I beleive that many governments and banks have changed their attitude towards Bitcoin, it's not anymore so hostile as it used to be. They figured out how they can have use of Bitcoin too and they are very well aware that it's not possible to make it illegal. They accepted it as something inevitable and they don't want the war against Bitcoin anymore.

In other words, if they can't beat them join them
This is nothing difference for what Russia did before were they banned Bitcoin, then after a short period of time they revoked what they've did into bitcoin. And now Russia is one of the bitcoin community who supported bitcoin very much.

[wuvdoll]

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.

[duyduc256]

I beleive that many governments and banks have changed their attitude towards Bitcoin, it's not anymore so hostile as it used to be. They figured out how they can have use of Bitcoin too and they are very well aware that it's not possible to make it illegal. They accepted it as something inevitable and they don't want the war against Bitcoin anymore.

In other words, if they can't beat them join them
This is nothing difference for what Russia did before were they banned Bitcoin, then after a short period of time they revoked what they've did into bitcoin. And now Russia is one of the bitcoin community who supported bitcoin very much.

If there is help from Russia then surely Bitcoin will be the international community have a better view of this market. I think Russia is planning on legalizing Bitcoin in the future and this could help Bitcoin get a very high price and certainly be able to reach $ 100,000.