Topic: Government fears Bitcoin - page 2. (Read 923 times)
The government is currently very concerned about bitcoin, as the need to find a new way to hedge its wealth is mounting, as governments are increasingly fiercely opposed to traditional banks, by law. Anti-money laundering, forcing the bank to provide sufficient customer information, the use of electronic money to hide foreign assets are rapidly evolving, Encryption makes it very difficult to find traces.
Cryptocurrency has not been banned by most governments because they see the potential of the technology behind it. They want people to develop it further and are closely monitoring all activities very carefully. When the technology has been refined enough and all it's practical uses have been thoroughly explored, then they will step in with massive regulations to take over and use it to control the masses. That is my opinion and from history, I don't think am far off
Bitcoin is decentralized and it important to enhance the world in investment and attractive people. Govt. fears with BTC because Govt. have no control over it, Govt. can not take benefit from BTC.
Government fears Bitcoin for the following reasons: First, it is important to note that the government or central bank of a country can use banks to regulate its money supply and circulation of fiat. And they can't do it with btc
Bitcoin gives people freedom from the financial system, and the government does not want to lose control over the flow of money. We need to find some kind of consensus.
Governments and government banks against bitcoin. The reason for this is competition.
With Crypto money, we can transfer money whenever we want. It's cheap and fast. Money transfers from banks are more expensive. That's why it meets the crypto market.
With Crypto money, we can transfer money whenever we want. It's cheap and fast. Money transfers from banks are more expensive. That's why it meets the crypto market.
Government still has fear on what they cannot control thats why they want to control the use of bitcoin.It could be one big advantage financially and can improve revenue for the country.
I agree with this . Government fears with the regulation of bitcoin. They cant collect taxes on it and theyre also afraid that people will not use banks anymore. As we all know that bitcoin is a peer to peer transactions that didnt need third parties like banks in able to transfer funds or assets. If this happens, they will think bitcoin is an enemy to the progress of any country. Atleast they didnt have the control in bitcoin and didnt have to do with it .
I think the government is actually scared bitcoin. Because, like all other countries, my country is not developed and people are unaware. In our country, this bitcoin works in the ordinary people are benifited very financially. And I do it, but the country's government says it is an illegal transaction and a means to steal money. In this way, the government is afraid of bitcoin and it is a threat to us who are doing this bitcoin.
Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.
“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
I adhere to the same opinion. At first the authorities tried to fight, but their struggle was unsuccessful and now they are trying to control. “It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
Government fears bitcoin because this new technology is very hard to control. Officials like to take care of everything they can but they can`t for now control e-currencies the way they do with money and gold, silver etc. They try to point out that virtual currencies are used for crimes like drug dealing, human trafficking, child abuses, money laundering but if so then they forgot the fact that criminals still use ral money for commiting this and other crimes!
The government has a responsibility to control the country's economic system. Bitcoin contradicts that interest
Yes indeed some government fears at bitcoin, each and every countries has their own reasons why they have a fear of bitcoin. But base on what I had read in different kinds of articles the most popular thing why government have fear in bitcoin is that this can be used in illegal trades or transactions which no government wants to have in their jurisdictions. This is also the leading cause or reason of some countries on putting in ban bitcoin in their land. For me this must not be blamed with bitcoin because they are just doing their job to serve people. What must be apprehended here is those people who are using or doing illegal trade or transactions.
because in my own opinion bitcoin might replace fiat paper currency in the future because most of the people nowadays use bitcoin for their own convenience . like me i use bitcoin for paying bills and other expenses i can also go online shopping using bitcoin . and next probably the economy nowadays are dropping because people who use fiat currency are reducing which affects the economy of the country that is why some country banned bitcoin .
On the one hand, worrying about the success of Bitcoin will affect the government's control over monetary policy, so it is hoped that it can control or limit its development. On the other hand, as long as the Internet exists, Bitcoin can hardly be banned if Bitcoin is the last in the world. With success, the current controls will put a huge price on their nationals.
Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.
“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
indeed, the existence of bitcoin and cryptocurrency has disrupting the bank or other centralized system in the world.
some governments doesnt wan their existing system to be replaced by cryptocurrency. but i think it is only a matter of time
before crypto beat them.
Governments aren't fear Bitcoin but Governments want to direct people's entire money and access all kinds of material information. It guides the economy in this way. People in the bitcoin system are anonymous and it is not known how much money.
If government are interest about bitcoin government can fears with bitcoin because a investor of bitcoin hopeful about bitcoin that after 10 years people buy their daily necessary things by bitcoin and bitcoin will be the only one global currency
Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.
“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
Well the government does believe that if laymen go towards crypto and other investments fiat will be heavily affected in the long term. The economy develops through the circulation of money whereas btc is not exactly trading with fiat as a base. As long as blockchin is improved and supported by banks worldwide the govt will have no option but to allow crypto to run smoothly. “It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.
It’s just my opinion about Bitcoin ban
What are your thoughts?
Yes, government fears Bitcoin. Bitcoin is decentralized which completes the transactions without the involvement of third party. This endangers the existence of commercial banks and central banks. With the end of central banks the government will lose control over the financial sector of the country. This can also lead to tax evasions and using Bitcoin for illegal purposes.
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