Why is Bitcoin allowed to continue?

[Camster]

I have been thinking a lot lately about why the central bankers are allowing Bitcoin to continue with only minor resistance.   The central bankers have set up shop in almost all civilized countries and have a money printing racket going on.  In America the central bankers are kind enough to let our treasury print the money and then they take 6% off the top thus enslaving the American population.  Don't worry though most Americans are completely unaware of any of this.  The central bankers control the military as well as they own the government.

The last country, without nuclear weapons, to attempt to bypass the central bankers was Libya.  I can still see the vivid video on the internet of Qaddafi being murdered in broad daylight in the middle of the streets of Libya.  Another fellow who attempted to not use the US dollar and went against the wishes of the central bank was Saddam Hussein.  Once again he met a similar fate.  He was hung.

The three countries without central banks right now Iran, North Korea and Syria are under constant attack or threat of attack from the central bankers.

Why would they allow Bitcoin to continue like this and grow momentum?  All they would have to do is outlaw it and 90% of the world population would bitch out immediately and stop.  But they don't do it. 

Is Bitcoin a trap?  Is this a central banker monstrosity used to turn us into tax slaves by recording every transaction?  Was Bitcoin innocent and free money and the central bankers are trying to squeeze their way in so they can use it as a weapon?  The only thing I do know is they are not handing over a decentralized economy to us because they love us.  What's the play?  Are we being set up?  Are we the useful idiots getting all our friends and countrymen involved in crypto?

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[Anarchist]

And how do you want central bank stopping us to use Bitcoin? Who are they to give use us directives?

[pavka]

Obviously, it's not for nothing that you can not point out the specific person behind the bitcoin. Until now, no one knows who Satoshi is, and therefore there is no specific person to whom central banks, governments or the mafia could influence. The prohibition of bitcoin will not be able to stop the development of crypto currency.

[Jannn]

Global banks are trillion dollar enterprises and have histories spanning hundreds of years (sometimes). I don't think institutions with such power and reach care too much about Bitcoin as it isn't much of a thread right now. In any case, Bitcoin is just another form of money, it won't be long until the banks have a stranglehold on the cryptocurrency economy too.

[pixie85]

Global banks are trillion dollar enterprises and have histories spanning hundreds of years (sometimes). I don't think institutions with such power and reach care too much about Bitcoin as it isn't much of a thread right now. In any case, Bitcoin is just another form of money, it won't be long until the banks have a stranglehold on the cryptocurrency economy too.

They do care and that is why they're trying to move their transactions to blockchain. They know that blockchain ia a more secure way of storing and sending information and will not fight it. They will use it.
What about Bitcoin? They are allowing it to function because there's no stopping it. You can't make every country ban it and you can't make the Internet go away.

[Infinixhot1996]

Lately,you can feel that government regulations are creeping slowly into the crypto sphere,bitcoin and other cryptos are decentralized and I think the government and Central Bank should leave it that way..
  With the rise of bitcoin and cryptocurrency it wouldn't be long before stringent rules are placed on them,that of course is when it's viewed as a threat to fiat

[Gozie51]

The prohibition of bitcoin will not be able to stop the development of crypto currency.

Certainly because if that happens, cryptocurrency will become an outlaw which means it will become a business done in secrecy just like other illicit businesses like smuggling etc and those kind of business don't lift the country's image, doesn't account to economic growth.

[Diced90]

Your question does rise some valid points which are to be concerned about. In particular, I agree with you in that if the US gov. did not want BTC they could do their best to ban it, but it won't stop BTC, yet they still accept it

[figmentofmyass]

Why would they allow Bitcoin to continue like this and grow momentum?  All they would have to do is outlaw it and 90% of the world population would bitch out immediately and stop.  But they don't do it. 

central banks aren't a united front. you have to consider geopolitics, and the fact that nation-states are competing against one another.

if one superpower prohibits BTC, they might put their industry and population at great disadvantage to the rest of the world. this is a nascent industry where there is potentially massive economic growth and transfer of wealth. it would be outright foolish to purposely get left behind.

if all the superpowers and most of the others all agreed to ban BTC, maybe you'd be onto something. but that would never happen!

[Voidcrafter]

You're talking about the black side of bitcoin. About terrorism and money laundering, mentioning Syria and Iran. I want to tell you that it is very easy to blame bitcoin for all sins, because no one will be responsible for these words. We've heard about Satoshi Nakamoto, but no one knows who he is or if he's alive. Where is he? That's why the government says such loud and dirty words to bitcoin. As for the banks, this is the government (in most cases)
Bitcoin has a future without black schemes (darknet)

[ZoomhashLLC]

You're talking about the black side of bitcoin. About terrorism and money laundering, mentioning Syria and Iran. I want to tell you that it is very easy to blame bitcoin for all sins, because no one will be responsible for these words. We've heard about Satoshi Nakamoto, but no one knows who he is or if he's alive. Where is he? That's why the government says such loud and dirty words to bitcoin. As for the banks, this is the government (in most cases)
Bitcoin has a future without black schemes (darknet)

Yes this is extremely important.

Bitcoin used to be largely used in illegal activity when it was first founded. But since it's growth and world-wide adoption it has certainly legitimized.

[flying_bit]

Why would they allow Bitcoin to continue like this and grow momentum?  All they would have to do is outlaw it and 90% of the world population would bitch out immediately and stop.  But they don't do it. 

How will central bank or even government stop bitcoin and cryptocurrency? It's like how will you stop porn or how will you stop activities in deep web?

Just think of China, there are many restriction in China. Government giving people limited access to social media and internet with censorship BUT people able to do something to bypass it by using VPN. What am I trying to say? There's no way to stop activities in internet.

Is Bitcoin a trap?  Is this a central banker monstrosity used to turn us into tax slaves by recording every transaction?  Was Bitcoin innocent and free money and the central bankers are trying to squeeze their way in so they can use it as a weapon? 

Why not check out again the idea behind bitcoin and blockchain. This will answer your question.

The only thing I do know is they are not handing over a decentralized economy to us because they love us.  What's the play?  Are we being set up?  Are we the useful idiots getting all our friends and countrymen involved in crypto?

For what?
Are you talking about Ripple? Joke.
I don't understand the paranoia. Is this some sort of FUD? Do you have any basis on all this?

Here's what I know. Sooner or later, financial institution will eventually embrace cryptocurrency and it will coexist and be use along with fiat. When that time happened, we earlier adopter have advantage.

[budrabut]

You should recognize that Bitcoin is decentralized of digital currency, it doesn't depend on Banks or other entities. If you want to stop Bitcoin spread, it means that you should stop the improvement of technology. Bitcoin was created for make the world easier and it is as the impact of technology improvement.

How could you have thought like that? Bitcoin is big future for the global economic.

[kotajikikox]

It's because central bank are know how much bitcoin can help the people and the country economic, but i didn't understand why they didn't allowing full adoption of bitcoin operation as legal currency, one thing i senn the reason is because bitcoin is threat currency to become banks are die.

[Bellator]

Why would they allow Bitcoin to continue like this and grow momentum?  All they would have to do is outlaw it and 90% of the world population would bitch out immediately and stop.  But they don't do it. 

central banks aren't a united front. you have to consider geopolitics, and the fact that nation-states are competing against one another.

if one superpower prohibits BTC, they might put their industry and population at great disadvantage to the rest of the world. this is a nascent industry where there is potentially massive economic growth and transfer of wealth. it would be outright foolish to purposely get left behind.

if all the superpowers and most of the others all agreed to ban BTC, maybe you'd be onto something. but that would never happen!

Indeed, It wouldn't happen mate and with bitcoin's decentralized character government could not prevent every people to use bitcoin for their private purposes. In fact there were selected countries in asia right now adopted bitcoin as a form of payment. That's why we seen bitcoin continued to reach higher in terms of profitable appreciations from an optimistic person who has a wide thinking. Central banks couldn't stop this to transact towards money transfers, because it's considered as business matters and as long as the system was having transparency towards their clients then the banks has no issues raise particular on possible fraudsters.

[CryptoGamblingSites]

I have been thinking a lot lately about why the central bankers are allowing Bitcoin to continue with only minor resistance.

Central bankers aren't "allowing" Bitcoin, Bitcoin is permissionless

[kiansantan]

However, Bitcoin is just another form of money, it won't be long until the bank has a grip on the cryptocurrency economy as well. I don't think institutions with their strength can reach too much into bitcoin.

[mrcash02]

Why would they allow Bitcoin to continue like this and grow momentum?  All they would have to do is outlaw it and 90% of the world population would bitch out immediately and stop.  But they don't do it. 

central banks aren't a united front. you have to consider geopolitics, and the fact that nation-states are competing against one another.

if one superpower prohibits BTC, they might put their industry and population at great disadvantage to the rest of the world. this is a nascent industry where there is potentially massive economic growth and transfer of wealth. it would be outright foolish to purposely get left behind.

if all the superpowers and most of the others all agreed to ban BTC, maybe you'd be onto something. but that would never happen!

Yes, not only Bitcoin, but the entire Crypto market is a great opportunity to accumulate more wealth and no one wants to waste it. It can be an opportunity for a country to rise faster compared to its rivals and even allies.

To destroy/ban Bitcoin doesn't make sense. For an example: It's like an american scientist destroying a nazi technology during the war, so no one could use it... It's a stupid idea, no? The correct would be to study and improve that technology to use against the enemy. And with Crypto-Currency that is what will happen, to have advantage over other countries on the "economic war".

[Vicrey]

because banks has no right to force us to stay with them if they don't want to, meaning as long as we have a freedom to choose what we want to do, banks don't have any options but to accept and follow the flow of the next generation which is to use crypto currency.

[MTNAX]

I think bitcoin is allowed to continue because it can help the economy of many people who use it. Not without reason if bitcoin continues to be allowed to develop until now means they have recognized the use and benefits of bitcoin itself. Indeed, sometimes bitcoin can go up and down in value but bitcoin will still be trusted by many people and its benefits will be enjoyed today.