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Author Topic: why do governments don't make BTC illegal worldwide ?  (Read 8103 times)
sungaiyangderas
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June 01, 2018, 07:20:13 AM
 #261

governments and banks have changed their attitude towards Bitcoin, it is no longer as hostile as it once was. They know how they can use Bitcoin as well and they are very aware that it is impossible to make it illegal.
CurrenCyTRR
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June 01, 2018, 07:24:50 AM
 #262

I dont know why
panukurap
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June 01, 2018, 07:40:25 AM
 #263

which you say is true, but I think why the state government legalizes bitcoin, because there is a positive side the government can take from the bitcoin legality in the country, one of which is income from the tax sector with bitcoin legality will surely be taxed, and it is very helpful the economy of the country.

Umar001
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June 01, 2018, 08:03:54 AM
 #264

Government authority can only make bitcoin illegal in their own country, government authority in contry A, has legal right to make bitcoin legal or illegal, moreover bitcoin has contributed tremendously toward economic growth in world wide, it does not make econonic sense to every reasonable government to make bitcoin illegal in their country.
David Vo
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June 01, 2018, 08:21:58 AM
 #265

Because bitcoin can destroy suxh importand institutes as a bank and other goverment financial offices, and as a result goverment will receive the hole in the budget.
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June 01, 2018, 08:39:47 AM
 #266

They can't make it illegal because it is impossible. Cryptocurrencies are Decentralised and transactions are nearly impossible to track. What governments can possibly do is to stop banks from allowing fiat transactions on crypto related markets, which some countries have already implemented. But still they can never stop peer to peer transactions. Cryptocurrencies will continue to exist for a very long time.
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June 01, 2018, 08:49:37 AM
 #267

Well this is all related to blockchain technology. It looks like the government and the bank are interested in this technology. Even today there are already some banks that adopt blockchain technology. it would be weird if it supports blockchain but prohibits BTC. And both are very close. moreover to equate understanding of BTC from state A government and state B government is not easy because each head has different understanding. There are some who attack BTC but there is also a legalized BTC nah it because understanding and different ways of thinking.

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June 01, 2018, 08:57:00 AM
 #268

For what to lose a possibility of profit earning - a tax even on a part of actions with bitcoin, it is already income. And if to forbid, then transactions with bitcoin will leave on the black market.
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June 01, 2018, 09:02:38 AM
 #269

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.
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June 01, 2018, 12:23:14 PM
 #270

Perhaps today many governments are studying if they legalize bitcoin, what are the advantages and disadvantages, I think it is better to legalize bitcoin otherwise it will be too late and will harm the country, because there will be a lot of money out of the country

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June 01, 2018, 12:32:09 PM
 #271

I dont know why
if the government made and legalized around the world it would make the original currency of the state bank useless and many would protest. surely people prefer bitcoin because the price is high compared with the money. the community will follow the rules of the existing rules of the country.
hubballi
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June 03, 2018, 04:17:18 AM
Merited by btcdevil (16)
 #272

I dont know why
if the government made and legalized around the world it would make the original currency of the state bank useless and many would protest. surely people prefer bitcoin because the price is high compared with the money. the community will follow the rules of the existing rules of the country.

I think that you have not read that whatn OP is!asking , the topic is about making bitcoin illegal world wide not legalization. No country can make illegal until their a full proof of it is getting used in illegal. They can make strict rules so that it cannot be used in illegal activities

LinkinPrak
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June 03, 2018, 04:41:50 AM
 #273

Yes, that is one of the reasons why the government does not allow bitcoin to be used as a transaction tool. Especially for governments that are not ready with the presence of bitcoin. For example, the government has not been able to find the technology used to control bitcoin in the country. I also disagree if bitcoin becomes currency with out of control. Because it will make irresponsible people free to control bitcoin, even if they hold bitcoin in large quantities. They will do bitcoin price manipulation in the market. I suggest if bitcoin be the currency passed for the whole world then bitcoin should be made centralized. If it is still decentralized and anonymous then bitcoin should not be a currency only.
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June 03, 2018, 04:53:08 AM
 #274

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 do governments don't make the bitcoin illegal worldwide? Simply because they think that the bitcoin cannot help their economy grow up and they think it is not a good to used by some people in their country, they do not have a trust in bitcoin because they think it is not good to used my some one and also, The other country did not using bitcoin because the other country did not using also.
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June 03, 2018, 04:59:44 AM
 #275

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, of course, this is a nightmare for the government because Bitcoin has many advantages that are not owned by other currencies. The government in the world does not make Bitcoin illegal completely because there is still a sense of government trust in Bitcoin. It's just that the government is monitoring continuously until when Bitcoin will continue to survive.
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June 03, 2018, 05:19:59 AM
 #276

because the government is frightened by the existence of a digital currency such as bitcoin, with bitcoin that has a very sophisticated technology that can see all transactions and is very safe to make governments afraid for corruption.

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kabelpeggek
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June 03, 2018, 05:45:28 AM
 #277

If we compare the total capitalization of crypto currencies and the GDP of the wealthiest countries, we can see that this amount of money is not so big. So, I think the governments don't spend a lot of attention to BTC and other currencies for now, but I think it's a question of time when different state financial agencies will decide to push and make the crypto market much more regulated and transparent
Tilysoo
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June 03, 2018, 05:53:57 AM
 #278

Now countries heared about you and your thought and started to ban ICOs. I hope you are ok.
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June 03, 2018, 06:05:18 AM
 #279

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 not all the government are ready for it. Some of them thinks that bitcoins is going to be a threat in their nation because it is decentralized and the government cannot controlled it so they chose to shut it down before it cost them a rebellious people. But not all the people are like that to think. Some of them are just a normal people who just wanted to gain an extra income just wanted to have an experience so have a digital money a volatile money to have something new. I hope all governments are just like in japan where all are open in innovations like this.
alvinmtp
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June 03, 2018, 06:06:11 AM
 #280

   All the governments are helpless.They know very well that bitcoin would be a direct threat to their taxing revenues  and they could not trace all the bitcoin transactions.They know very well that bitcoin would become the ultimate choice of black money holders for money launderers.
       But since bitcoin is an internet currency,it could not be completely banned unless banning the internet which is impossible.The only thing they could do is to regulate bitcoins by framing rules for bitcoin exchanges and asking them to follow strictly KYC to identify persons using bitcoins.That's why many countries have not yet banned bitcoin.
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