why do governments don't make BTC illegal worldwide ?

[lentzaj]

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 ?

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[Kronos21]

You are absolutely right. War governments and banks with a turnover of bitcoin is inevitable. Initially, the government did not attach importance to this problem, and now it's too late. The world is not unipolar and a ban in one state would cause all the money will go to another state. The cat will go for it? The government just don't know what to do with bitcoin. This is the calm before the storm.

[eternalgloom]

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/

[Xavofat]

Answer: it's not possible.

Simple:  they make BTC illegal, so BTC gets improvements to the privacy like TumbleBit and people start spending it anonymously for goods and services, often P2P rather than on clearnet marketplaces.  People exchange it with fiat or goods anonymously as well.

Sure, the price would take a plunge and there would be less speculation, but that would be fine.  Anti-government types would still use it.

It's like the war on drugs: it's simply impossible.  

Regardless, there's no real reason why they would make BTC illegal anyway.  From their perspective it's pretty much like gold or silver except digital.

[bitbunnny]

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.

[Paid Piper]

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.

yes that is the fact. i also think that most of the states have now a very changed attitude about bitcoin. they have simpathy with bitcoin and in fact they are thinking about how to legalize bitcoin just like japan who turn bitcoin as legal currency. i am sure that  very soon so many other countries are going to turn bitcoin as legal currency.

[lentzaj]

I'm not so optimistic as you are. They can make BTC mining, trading, etc a crime as it is a real threat to their power whatever the money they can make on it from regulation ! FIAT money is the way governments have controlled us since the middle age ! BTC and altcoins and blockchain is to me the end of central authorities and therefore governments/banks/big institutions.

I don't think they will be ready to leave us free !

But yeah, some "emerging econony countries" could take advantage of a possible ban in "developed countries"  making people shift their BTC-related activities in these countries.

It is clearly not black or white ! But This uncertainty is the last point that makes me fear to fully invest time/effort/money in BTC/altcoins.

Share your opinions ! I'll be happy to learn from your positions !

[99legendary99]

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[Slark]

First of all, banning Bitcoin is something that democratic countries can't do openly. It would create social unrest.
Bitcoin is groundbreaking new technology and not something evil or harmful - putting Bitcoin on the same level as drugs is idiotic.
Instead of being banned I imagine that bitcoin will be embraced and heavily regulated to eliminate any kind of 'illegal activity'.

[niotib]

That's because yet there's no an impact enough for an explosion.

[rb26]

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 they do not have the power to do so. Each government has their own sovereignty and jurisdiction and imposing an ILLEGAL label to Bitcoin worldwide is impossible unless all government in the world make the same move. However, some country/government acknowledges the worth of Bitcoin so it will be difficult to make Bitcoin to be illegal on a worldwide scale. Regardless of the threat Bitcoin gives to banking system, they just can't touch Bitcoin.

[Celsiuss]

There is no real reason to make it illegal. As for now, it is FAR from being threatening to banks and government. If it were, the government could simply regulate the use of it, instead of banning it completely. Different countries have different views of this, and I doubt the whole world will agree on banning something like this ever.

[3kpk3]

I feel that the majority of the countries around the world do not view bitcoin as a threat, but instead they see it as something revolutionary. Time has proven that and more and more governments are beginning to understand its value. They would still like to regulate it though and impose a few restrictions here and there. In the worst case scenario, if they do indeed decided to ban it, it would provoke a huge negative response from the public which would damage their reputation and their chance to preserve their government which means that this possibility is highly unlikely.

[rifatrony5]

Govt Can Make Illegal Anything Within Their Region.
If So, You Wouldn't Be Able To Legally Transact Using Bitcoins Without Some Penalty If You Get Caught.
Perhaps There Are Dark Markets Where You Wouldn't Be Caught, But This Would Severely Limit Bitcoin Adoption Within That Country.
Although There Is Nothing That Can Stop A Govt Or Central Bank From Banning Bitcoin,
Most Would Not Go That Far For Two Reasons:
Banning Bitcoin Is Too Difficult To Enforce Or
The Government Does Not Know What To Do With Bitcoin

[AwpDragonPoor]

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

[xx-man]

In my opinion, the government can not prohibit BTC, because in its existence BTC will help the state finance someday, so if they prohibit BTC entering the country, I think they only narrow the income economy of small people who earn only by searching BTC.

[Soutogu]

Its still very early, even for the governments to judge whats the best option for them... It could end up benefiting them more to support and regulate it, collecting taxes or something... Only the future will tell

[romani245]

I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked!

Though Alex Jones (et al) would have you believe that the world is controlled by a secret, unified cabal of bankers, the reality is much different. Governments and the central banks manipulating their currencies are in great competition with one another. Because Bitcoin is decentralized and thus cannot be controlled by any government, it makes no sense to ban it, because that government can't stop the rest of the world from using it.

[LTU_btc]

If we talk about democratic countries, making bitcoin illegal is not what they want to make. Mostly countries don't see danger in btc. Only thing what they want to do - regulate bitcoins. Let's say that you received profit from btc - you have to declare it, pay taxes and etc. But make bitcoin illegal worldvide? Why they need to go in such radical way?

[hich_ang]

It's very early to talk about governments adopting bitcoin.
Not making it illegal is a win right now.