why do governments don't make BTC illegal worldwide ?

[ObscurePen]

The problem is that even if governments do make Bitcoin illegal world wide, they would not be able to shut it down completely. After all, Bitcoin works individually of the banks and thus the government. This means that governments have no real control over Bitcoin. Sure they can make it illegal, but it doesn’t stop people from using it other than the fact that it is illegal. Unless the citizen is an extreme patriotism and has extremely good morals, he/she would still use Bitcoin. Look at Ecuador for example, Last year, they banned Bitcoin and all other cryptocurrencies, implementing their own national “cryptocurrency” instead. Not it is not really a cryptocurrency since it is basically supposed to complement the national dollar. But my point is although Bitcoin was banned, people still use it. So in truth, there is no point in banning Bitcoin. But as in the example of Ecuador, some governments still do.

[jostorres]

The problem is that even if governments do make Bitcoin illegal world wide, they would not be able to shut it down completely. After all, Bitcoin works individually of the banks and thus the government. This means that governments have no real control over Bitcoin. Sure they can make it illegal, but it doesn’t stop people from using it other than the fact that it is illegal. Unless the citizen is an extreme patriotism and has extremely good morals, he/she would still use Bitcoin. Look at Ecuador for example, Last year, they banned Bitcoin and all other cryptocurrencies, implementing their own national “cryptocurrency” instead. Not it is not really a cryptocurrency since it is basically supposed to complement the national dollar. But my point is although Bitcoin was banned, people still use it. So in truth, there is no point in banning Bitcoin. But as in the example of Ecuador, some governments still do.

Right on the target! Governments have zero control over bitcoin usage. They don't even know who are bitcoins holders and cannot trace them. Even if they can, with thousands of users, it would cost them a lot of money, time and other resources. Practically, bitcoins are unstoppable.

[Yarsk]

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 ?

You are very correct, bank and government work hand in hand and they both see bitcoin as a triat to their authority over our financial activities.
Because with bitcoin you are almost invisible to be trace and also bitcoin eradicate the the profits banks and the government generate from you transactions.
So the government will not want that to happen and in such may see bitcoin as a no go area in most countries of the world. But with more knowledge in bitcoin any country that want their economy to grow will welcome the ideas of trading with bitcoin as that will boost the economic activities of the country.

[oegarod]

Different government has their own thinking upon bitcoin as well other digital currencies. Some countries, in specific Japan, China, Australia has got a positivity over bitcoin. This has made them adopt it as an legalized currency. So maybe the one who learn it in a better way might support bitcoin in the future.

[lentzaj]

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 ?

[AGD]

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Nice 1st post. Congratulations!

[bamboylee]

Different countries will have different opinions about bitcoin. It can be a threat or it can help the economy as well. Making bitcoin illegal worldwide, involving every country on the planet will be hard, next to impossible. Besides, if you ban bitcoin, there will just be another altcoin that will rise to replace it.

[VeeraS]

yes I really agree with what you say.
exactly, the government is very scared for that. besides that instability owned by bitcoin and alcoin. the government is not interested in investing.
because it is most likely many countries do not legalize bitcoin.

[lentzaj]

Just wanted to share with you this post from marketwatch :

http://www.marketwatch.com/story/bitcoin-ether-and-other-cryptocurrencies-may-be-seeing-the-beginning-of-the-end-2017-09-06

This paper is not as optimistic as you are. I cannot yet make a final thought about a possible government ban of crypto...

[audaciousbeing]

A lot of people have argued that government will not be able to stop bitcoin completely but what they can do that we need to start realising is frustrating the growth of bitcoin in the sense that since bitcoin as it is now, cannot be used to buy any direct thing, then they will then stop banks from making fiat possible to bitcoin and withdrawal from exchange to our individual banks the moment that is done successfully, I tell you, crashing is happening fast, exchange sites are closing down and bitcoin will only be used in the crypto community which is still not large enough to accommodate our needs.

[lentzaj]

A lot of people have argued that government will not be able to stop bitcoin completely but what they can do that we need to start realising is frustrating the growth of bitcoin in the sense that since bitcoin as it is now, cannot be used to buy any direct thing, then they will then stop banks from making fiat possible to bitcoin and withdrawal from exchange to our individual banks the moment that is done successfully, I tell you, crashing is happening fast, exchange sites are closing down and bitcoin will only be used in the crypto community which is still not large enough to accommodate our needs.

You are right ! BTC and cryptos seem to be not as resilient to government censure/banning as they are claimed to be. What is your strategy ? Do you still invest on a long term basis in crypto knowing this or something else ?

[Jmmerquita]

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

[thomastthom]

Governments would have done  to ban it it was a threat to them. In my opinion things are easier for them with crypto currency around. They and people they serve can do their dirty works without so called can't be traced.

[Dudeperfect]

Yes, I agree that Bitcoin can challenge the value transfer of traditional fiat system but on the other hand, if the government is deciding to ban such digital currencies then it would boost the shadow usage of it and those who are using Bitcoins for legal activities would not use it in that case but those who are using Bitcoins for illegal use, would keep using Bitcoins under cover and I fear that the percentage will increase drastically if there is any wrong move by the government. Making it legal is the best way I see to monitor the flow of it.

[datodota002]

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 ?

why make this extraordinary invention illegal, when gowverment and bank do illegal think on illegal way. Bitcoin payment like lightning fast and almost zero payment, when the bank must pay in every transaction and pull commision from our saving every month, like they said maintenace fee pftttt lol. why we have to save our money in bank that charge fee for our own money while we can be our bank.

[Stedsm]

Cash can already be untraceable to an extent.

Making bitcoin illegal wouldn't solve much, especially since the entire world capitalization is 1% at best.

The governments are concerned because Bitcoin is being used for a lot of criminal activities. This include the purchase of illegal substances such as narcotics and weapons, as well as the payment of ransom and bribes.

Concerned about what? Bitcoins?
I believe you may be correct about that in many cases because Bitcoin was asked as an extortion money when ransomware things were at their peak and it's even being (or may be getting) used in terrorist activities, but let me ask you one thing here. Things which have values (even higher values) or even different currencies and assets such as Gold, aren't they being extort in the real world? If these things are not declared illegal anywhere, why should Bitcoins be?

[EddieNigma]

Some governments will try, but ultimately the government is made up of humans, not too different from us. Many of them will recognize the blockchain as an opportunity, not a threat.

 In fact, those who adopt it faster will be at an advantage. Imagine 20 years ago half countries banned the internet and half supported it. Which half would be economically and technologically superior now?

[hsmst4]

Governments can't stop the blockchains but they CAN shut down the exchanges.  What good is having 134 bitcoins if you can't transfer back to fiat?  Value would then plummet in a sense killing it. 

I suspect that is why sites like Coinbase are so strict on their usage policies.  Trying to keep the market clean so not to give the feds any reason to shut them down.

[Bitcoincole]

Some governments will try, but ultimately the government is made up of humans, not too different from us. Many of them will recognize the blockchain as an opportunity, not a threat.

 In fact, those who adopt it faster will be at an advantage. Imagine 20 years ago half countries banned the internet and half supported it. Which half would be economically and technologically superior now?

My personal opinion why the government don't make btc illegal worldwide because there really isn't anything that is getting violated here and i think they only narrow the income economy of a small people who earn only by searching bitcoin.

[Michael_Gims]

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