why do governments don't make BTC illegal worldwide ?

[iamMhew]

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 ?

yes thats true, that bitcoin can be a target for more controversy for that such bad activity to be banned on the other country. but for me every country do some secrete agency that focusing only on bitcoin transactions to avoid some illegal transactions using bitcoin. theres so many people using bitcoin for a legal ways rather than illegal, so mostly some other country are legalized bitcoin for some good purposes.

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[inoes]

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

[christsstrong]

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.

Some people in power don't have the capacity to understand and they can't admit it from the chair they are sitting in. Change will come with new generations sooner or later.

[KesoNie]

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 ?

I don't know if the government will make bitcoin illegal im worldwide  but let me explain why , its possible that the government and the bitcoin have relation  we know that the rich people used bitcoin for the several site just ro buy things . if bitcoin banned or make illegal in worldwide im sure that the other hackers will make way to bitcoin just not to disappear it. And if bitcoin can make them dis appear the other cryptocurrencies will replace to the bitcoin

[mangodream]

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".

[EllaPonchik]

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.

[Carlsen]

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.

[webmastax]

Now countries heared about you and your thought and started to ban ICOs. I hope you are ok now  

[Btcvilla]

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 ?

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.

[Argon2]

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. 

[coinzoid]

Thinking this would be a nightmare for me. I'm a legal user of bitcoin and without legal purposes, bitcoin is pointless for me.

[aplistir]

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

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.

[Wipro]

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.

[davids]

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.

[Razick]

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.

[pitiflin]

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.

[bigboi.chabba]

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.

[Hazir]

... 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.

[adChain]

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.

[maman09]

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 ?

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.