why do governments don't make BTC illegal worldwide ?

[jorneyflair]

Some are already doing so.

Others are making regulation stricter so that it is harder for the average Joe to gain access to bitcoin. Such as the current situation happening in China. But the reason why most aren't banning bitcoin completely is that governments know it'll be impossible.

Bitcoin is a distributed network. It can't be taken over by the FBI or something like that.

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[cafucafucafu]

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 ?

They can't!

The thing is the worst thing they can do is shut down exchanges, ban ICOs, whatever. But to shut down or ban bitcoin itself is just impossible. Sure, they could say on paper that bitcoin is illegal but people will continue to use it. Just like when in some countries where their currencies are extremely unstable people turn to using the US dollar even though it is officially banned(e.g. Zimbabwe).

If governments banned bitcoin, people are going to continue to use it. As it is a distributed ledger, governments can't just shut it down.

[Bitcotalk]

Simply that every government is looking to control the resource of wealth and defense as we all know bitcoin is against all that ,it provide totally free system where can be used everywhere without rules restriction so they are going to fight till the end china is just a start .

For making anything illegal worldwide, the governments need to come up with valid reason. For instance, smuggling is harmful to humans so it is considered a crime but earning bitcoins or keeping them in wallets does not hurt anyone.

Other than that, they also know the importance of bitcoins now.  That is why some countries are accepting digital assets but I am sure they all want to control this currency also.

[Fuhre]

because fiat money is a tool for they control all thing. If they accept bitcoin will make they speech become smaller

Your argument makes sense, fiat is everything.
The government can create the fiat at will without any limitations. In contrast to bitcoin, with a small amount of bitcoin they may have a reason not to legalize bitcoin.
As they say, bitcoin is difficult to monitor, the numbers are few.
I do not understand what they are thinking, many people expect the legal bitcoin in their country to make it easier to transact.

[Misshi]

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 is because they will also have benefit in Bitcoin so they do not make it illegal. There are many corrupt officials that may buy Bitcoin using the corrupted money. They knew people cannot track who owns that address. They can hide their money in Bitcoin. That is my opinion why government didn't make Bitcoin illegal, but also they didn't encourage all of us to buy Bitcoin.

[Rinaze]

No government doesn't like money and the cryptocurrency industry is worth billions (or even trillions). I too personally doesn't see what are the advantage of making Bitcoin illegal worldwide but I do agree that regulations should be in place to a certain extend.

[MostafaGamal]

they have to do a lot of research before this step , but i think it's very hard now maybe next 5 years

[digaran]

Bitcoin ain't no threat to no body, some body in China farts and a few hours later a big storm hits crypto, they place their agents as speculators into the Bitcoin's society and they are essentially controlling the market, they are not in control of the supply but they are manipulating the price.
All a government needs they already have it. now they are even trying to take over the Bitcoin code as well by talking about the Core team as villains and writing on placards about their $70 million debt to make it look like it's about the money.

[leonair]

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 governments doesn't predict this is coming that Bitcoin will reach this point that it is the most valuable currency in the existence of money in history of human. They are too late in killing this thing I think because if they show the people that they want to be vanish they will just look stupid and the more you regulate cryptocurrencies the more people will think that it is worth a time. And not all governments in the world have a department focusing in this digital moneys that's why it got big.

[iyan33]

but if they are sensitive to technological advances that can support for the improvement of the economic sector they certainly (in this case the government) will support bitcoin progress, in fact some countries have declared the legality of bitcoin and this is certainly bringing a good impact for economic change on society to be more good

[bettercrypto]

Government are not in sync with each other and they do not share a common interest with regards to Bitcoin and other cryptocurrency.  Others just simply to attached to their system and anything new, they will automatically rejected it without even knowing the benefits they can get from it while others are too open for changes and in aspiration to take the lead in terms of technology and innovations, they gladly embrace any new technology in the market.

[jerrison]

btc made its way to the top without the government and proved that it is credible and worthy to be accepted as a medium for trade and cannot be illegal but can be restricted amongst those who are yt to accept it

[Soros Shorts]

In most parts of the free (or semi-free) world the governments are given their power by the people who vote them in. Unless the government is a dictatorship there is a limit to what they can do to make Bitcoin illegal without running afoul of existing constitutional laws. If you are a politician who hates Bitcoin trying to introduce legislation that would essentially ban digital tokens could open you up for attack and ridicule from your political opponents.

They'd probably try to regulate exchanges and figure out how to tax bitcoin transactions rather than ban it entirely.

[Awnar]

One of the reason that I know why the governments do not make bitcoin illegal is because one they might trigger an uproar over a large crowd of people who is patronizing and using bitcoin. Second the governments might be thinking of studying bitcoin and how they can integrate it to the society, because if they made it illegal then suddenly they chose it to be legal the governments will be pressed on a barrage of questions and public opinion about their change of hearts over bitcoin.

[TheGodFather]

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 may have a point but you also have to point out that bitcoin and cryptocurrencies are opening the country or the workd to newer innovations and this are something that brings investment and other income to the country. AS this is a great use gor capitalists.

[willmunte]

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 very simple because if it's legal to have more investors care in it, life's projects will not be care in that one thing I'm bad . This has happened in china.

[iMark]

they have to do a lot of research before this step , but i think it's very hard now maybe next 5 years

moreover, the rules of each country are different mate, although in some countries bitcoin is banned but it can not be generalized worldwide because every country has its own regulation and policy, so that is why bitcoin is still free in circulation, because government in many countries still many who has not stated his attitude on bitcoin

[jasonjm]

Well there are a lot of reason behind this, first of all every country has different rules and regulations and they are some what different from others.  One more thing is that you cannot track bitcoin transaction and it can be used as money laundering.

[snedyolo]

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 don’t make bitcoin illegal world wide simply because there’s nothing illegal about it. It is like online money. The only thing that makes it look bad is when bad people use it for illegal activities.

[crustycrab666]

in my opinion, the most powerful reason why there are still so many governments that do not legalize bitcoin are: Bitcoin exchange rate rises and falls purely following the market mechanism and the government can not control its exchange rate.