Because they can't do anything.
You might be right. Sadly.
Why aren't the governments doing anything?
- Thread starter yangnw
- Start date
You might be right. Sadly.
No, it's not the US that's too big to fail, it's the bitcoin that's too small to cause any contagion.
How does did bitcoin (as opposed to really thoughtless government policy) cause Venezuelan inflation?
Anyway, smaller economies are trying. Even larger ones are, but there is not much they can do. The internet is very hard to control, even if you make things illegal.
OP doesn't seem to know much about basic economics/finance...
There don't seem to be any good reasons yet emerging why any strong supra-national action is needed on crypto-currencies. If they work, governments will bring them under regulatory control. If they don't work, people (and smaller nation governments) will be driven back to the mainstream finance industry and the bonus is they might be in serious debt.
Governments have many prescribed duties, but protecting those people with more money than sense can't top of the to-do list.
Governments have many prescribed duties, but protecting those people with more money than sense can't top of the to-do list.
You gotta be kidding.
Not sadly... That is the greatest feature of cryptos in general... Freedom!
You must be a big fan of Mao...
It's no use banning bitcoin... There is no way to enforce the ban... Commies are in deep shit..
It is called capital controls. Nation states like to control the currency what their citizens use, and also like to control of the capital flow. It is very easy to bypass capital controls with cryptos, <<< huge reason for states to hate them.
Your imagination is lacking.
1. Once retailers are banned from using cryptos as legal tender, that takes away the major usage from a currency. It is VERY easy to enforce such a ban.
2. If the citizenry still uses it, anytime when crypto gets stolen,misused the government can just shrug, hey, that is just a bunch of numbers on a computer. (meaning no legal protection) But more importantly, if they are mean, they can confiscate any computer/phone at any arrest or custom passing and search it for cryptos. If you have a wallet on your computer, you can say good bye to it. The point here is targeted enforcement. They don't have to look for every wallet, they can just use this law against certain people.