why do governments don't make BTC illegal worldwide ?

[ndcm]

Bank is one of the sections needs to circulate the money in our economy, this will be a threat. It cannot be legalized because it is also difficult to regulate. I'm just thankful that in our country we are having a progress to use bitcoin is some local transactions like paying your bills, buying some items etc.

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[ignacio0404]

They do not because they see how Bitcoin has a good effect for a lot of lives. Bitcoin didn't make anything that prohibits government laws and regulations.

[The KGB]

Because bitcoin is not so important for them at the moment, and there are better things in where they all should be taking care at the moment, taht si the main reason

[ucingucingan]

maybe if the government legalizes bitcoin as a means of payment that will make the exchange rate of state money will decrease as replaced by bitcoin, and if it happens then some countries will experience economic crisis because their currency has decreased exchange rate

[cryptoblue77]

Many governments have realized that bitcoin is the future of currency and it is a source of income for a lot of people in their country, so they don't want to create problem in their economy.

[stephanirain]

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 ?

In my own personal opinion, i think even there are a lot of coutries who banned bitcoin, there are still countries who believes that bitcoin is very beneficial to every individual and helpful to the economy. I think in the future countries who banned bitcoin will changed there mind and start using bitcoin as well.

[Tugsukana]

overnments 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.

[senin]

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 understand why many believe that bitcoin and other crypto currency are a threat to the banking system? Crypto currency is only able to reduce the number of their clients from banks and therefore reduce the profit of bankers, but for the banking system decentralized crypto currency does not present any threat. This is written by those who generally have no idea how the banks work and what kind of relationships can exist between them and the crypto currency.

[Wicked Sick]

I don't think you understand the meaning of the word decentralized, even if the governments wanted to ban or make Bitcoin illegal they will still not be successful in stopping it. And at the current market cap of Bitcoin I don't think they are going to ban it as it could be catastrophic for the economy.

[MFY151]

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 can't regulate bitcoin, which means it is outside their laws and jurisdriction of the government thus it is common response for the government to either ban and not legalize it or just let it do its thing. Let's give the world time to adapt to change and I'm quite sure it will accept cryptocurrency in its own.

[SabrinaSwo]

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[Sand King]

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 ?

Maybe the government of those countries that banned bitcoin sees cryptocurrency or bitcoin as a threat to their nation even if we all know that crypto is harmless. This just testifies that there are still a lot of people who lacks knowledge about cryptocurrency.

[minasantos]

Yes, bitcoin now has many obstacles from the government and banking industry. I believe that with the development of the encrypted world, this resistance will become bigger and bigger.

[JungleBook]

Government know what they are doing, because bitcoin is far higher than any country currency, and also bitcoin is a digital currency that is Only specific in online transaction, and I think that is the most reason, it was not approved by government.

[zalixo]

One major reason why governments can't make bitcoin illegal worldwide, is because it's operate in a decentralized system and so they can't make no/much profit from it unlike the central banks which is centralized.

[Xising]

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 not that every government intends to ban or deem cryptocurrency activities illegal, but I think it just comes from the duty of a government to protects its people. A government, being the leader of its country, has the duty to protect its people including againt bad business. The cryptocurrency market, having a negative image, always puts the government in its toes to try to help people not experience anything negative due to the effects of such market.

[RippleSpaset]

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 quite agree with you.I think the government will find a way to control the cryptocurrency.Because humans are pack creatures!( So they are not much and twitch now, there is a theory that bitcoin and the cryptocurrency market is suppressed by them.

[RippleSpaset]

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 want people to have a better future, and they know that bitcoin can help them. So that there is some countries don't ban bitcoin but there is rules in using it.

It won't just hit the government !But you will.Anarchy does not lead to good(proven by history) And not much they fear,they will break whatever you want and build again on their own terms.

[squallw]

The governments already fighting against crypto currencies and bitcoin. But it is not simple to ban.
Crypto is descentralized and can be anonymous, even if government make it illegal, you can still use crypto by p2p, dex or at internacional exchange.

In serious countries, the public opinion counts and if people want to use crypto it will be hard to make illegal.

[minime0105]

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 not that every government intends to ban or deem cryptocurrency activities illegal, but I think it just comes from the duty of a government to protects its people. A government, being the leader of its country, has the duty to protect its people including againt bad business. The cryptocurrency market, having a negative image, always puts the government in its toes to try to help people not experience anything negative due to the effects of such market.

The governments intend to have control over how things are run, so they jump at any opportunity. Its how they run, giving them access to a decentralized network would allow them to have power and power means control over its people, in terms of what to buy, what to invest and what not. Making BTC illegal worldwide would be a bad move, equally banning it in some countries creates competition with the other ones which legalize BTC. It's just one of those difficult decisions.