why do governments don't make BTC illegal worldwide ?

[AverageGlabella]

Is Bitcoin that much of a threat? Anyway each country has different perspectives it's clear that russia and china are against bitcoin but countries like Switzerland have supported Bitcoin

[thenameisjay]

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 ?

If I were the government, I wouldn't make it illegal and jusy regulate it instead. That way, the government still grows and revenue is harvested from the movement of bitcoins. Maybe that's the reason why governements are still studyinh bitcoins, to actually make money out of it. Sly sly government.

[coin_1122]

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.

Yes, you are right government wants to establish this new technology into real time environment where we can use them in our daily life. So government are seeing huge potential in Bitcoin that's why they are not making Bitcoin as ilegal.

[KingOfWinterfell01]

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 government is having a hard time tracing bitcoin because it is untraceable. Another reason is because it costs so much, it takes great effort for a government to remove a commodity of great value from the market. It'll cause chaos and will most likely cause major fallouts in the digital world. Finally, I think as well as most people here, that the government actually is trying to make some sort of a money making scheme from bitcoins that's why no one still is taking an effort to ban bitcoins after China.

[barabut]

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 ?

There are a lot of facets to bitcoin. I thought the whole point of bitcoin was security, right? That seems less secure than having gold or cash in your safe at home, buried in your backyard, or in a safe deposit box. It seems less secure than buying an expensive watch and insuring it.

[arlinxoha]

At one time, Bitcoin will prove to everyone how useful it is to us. This is illegal in many countries. But many countries make it legal. They love Bitcoin. Their country started as a legal currency. So we think that soon Bitcoin is going to be introduced as the legal currency of other countries. Bitcoin has a bright future. It will not be destroyed.

[enterprevic]

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 see any reason why the government would place a ban permanently on bitcoin, it isn't affecting anyone directly, it works just like other businesses in which there is competition, in this situation only the business that has the highest level of competent managers/management wins. So if the banks want to win back their customers they should start treating customers as kings and stop the fraud.

[Altero]

Is Bitcoin that much of a threat? Anyway each country has different perspectives it's clear that russia and china are against bitcoin but countries like Switzerland have supported Bitcoin

Bitcoin is not a threat to everyone, instead it could give us a new start in living with digital currencies aside from existing fiat money. Russia and China are very supportive to crypto at first and having large numbers of miners and investors are from them. We can't really point out of what is the big reason of leaving crypto in their country but all of this, it doesn't give a huge impact of bitcoin life in the market .

[the rise]

At one time, Bitcoin will prove to everyone how useful it is to us. This is illegal in many countries. But many countries make it legal. They love Bitcoin. Their country started as a legal currency. So we think that soon Bitcoin is going to be introduced as the legal currency of other countries. Bitcoin has a bright future. It will not be destroyed.

I don't understand what you are thinking completely, if bitcoins are legal, then there will be many irregular gaps like money laundering that have the potential for inflation, problems will also arise from other crypto case loopholes like harmful local investments that are not monitored because very bitcoin easy to get and use. If people end up loving bitcoin, it will have a huge inflationary impact on fiat.

[Portia12]

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 have some reasons thats why its illegal number one reason is bitcoin is not traceable illegal transaction will made if they cant fix it. they will use bitcoin as a payment for their drugs and other illegal things. lot of people use bitcoin to hack other holders and make an scamming sites to earn more money.

[doomistake]

Is Bitcoin that much of a threat? Anyway each country has different perspectives it's clear that russia and china are against bitcoin but countries like Switzerland have supported Bitcoin

Bitcoin is not like what you think, it is not a threat, some of the Governments are banning bitcoin because of their own reason, and whatever that is, that is going to be the best for their country, so we can stop thinking it that way. Government can't make illegal bitcoin all around the world because just like what I've said, bitcoin is not like what you think it is. Bitcoin could be a way on improving someone's country and to develop it even more.

Countries which banned bitcoin is because of the people misusing bitcoin, others are using it on buying illegal weaponry or even illegal drugs online, since every transaction is anonymous, others have guts to do such thing that is why the Government best solution for that is to ban it.

[arnux]

Dubai is currently in the process of banning Bitcoin so theres currently 4 countries that are banning countries.

[webdevmastery]

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 have some reasons thats why its illegal number one reason is bitcoin is not traceable illegal transaction will made if they cant fix it. they will use bitcoin as a payment for their drugs and other illegal things. lot of people use bitcoin to hack other holders and make an scamming sites to earn more money.

In my own opinion, I think that bitcoin is traceable because ico's has been banned before in china because of an illegal transaction and yes your are right about the drugs transaction. Maybe if everyone will just obey the law then every country will be able to use bitcoins in their country.

[initenan]

Very interesting. I shall examine.

[Bluestreet]

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 the reason why government is not legalising the btc is the government's own fear,  as if the government legalise btc there are no way of taxes on transaction,  no banks,  no need of paying taxes,  no traceable activities of users.   Drug dealers, terrorism,  thief will not be come under their observations and there fear is somehow is serious too.  Btc has advantages and disadvantages both,  btc may give the criminals a new path to increase their plans and making them successful.  There will be transfer of one country's money to another country illegally.  Or without knowledge of government. 
I think government has so many genuine reasons behind not legalising btc.

[paolo099]

you can't really ban BTC, it's very difficult and i'm pretty sure it some country would ban bitcoin we will always find a way to keep supporting this project.
Regulating? is not possible due to decentralisation, again they might find a way to regulate (to give them advantages, don't be fooled they'll regulate for you) but everything will stay the same anyway.

[salihno71]

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 are each for themselves with their own interests and goals. There is however an interest group of very powerful individuals called Trilateral commission. If they decide that the bitcoin is a threat for them - and it is because it lessens their influence on the global economy - then we might see some serious steps worldwide against crypto assets. They control governments trough IMF and other means. They are the source of many problems existing today.

[Xester]

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 do not know exactly but here in our country, when you want to buy bitcoin or use bitcoin to pay your bills, you can pay it through banks.  And there is no reason for our government to make bitcoin illegal.  It can contribute to economy of the country because of the extra service or fees bitcoin can give. 

[MonaLeeTracy]

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 the reason why government is not legalising the btc is the government's own fear,  as if the government legalise btc there are no way of taxes on transaction,  no banks,  no need of paying taxes,  no traceable activities of users.   Drug dealers, terrorism,  thief will not be come under their observations and there fear is somehow is serious too.  Btc has advantages and disadvantages both,  btc may give the criminals a new path to increase their plans and making them successful.  There will be transfer of one country's money to another country illegally.  Or without knowledge of government. 
I think government has so many genuine reasons behind not legalising btc.

making bitcoin illegal throughout the country is quite difficult, since the bitcoin does not have enough regulation and security yet, so other countries sometimes refuse the bitcoin to circulate.

[subSTRATA]

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.

i think its fully possible for a government to shut down bitcoin entirely, it's just a matter of how much theyre willing to dedicate to the effort in terms of resources. iirc, law enforcement was able to pinpoint illegal TOR based sites (not that TOR is illegal itself, but sites such as drug exchanges, child porn, stuff of that nature) by tracking ip response times and other factors (it's been a while since i've read thsi, wish i remembered it more clearly). in addition, bitcoin has an inherent weakness to the dedication of excessive resources: the 51% attack. if a government was willing to actually dedicate the resources to set this up, they could effectively start reversing transactions and manipulating the network to their means, which could lead to the death of bitcoin. at this point, they wouldnt even need to outlaw it, they would control it.