Topic: Main reason government won't fully accept bitcoin - page 3. (Read 634 times)

Also they don't want decentralization.

Centralization equals power and decentralization equals effort put into giving power to the people while the governments have worked for centuries to take power from the people. Accepting bitcoin as a means of payment is OK to them as long as the main currency remains fiat money. Leaving fiat money for bitcoin is impossible for them because it would mean giving both power ant the economy into the hands of someone else, this anonymous Satoshi, or anonymous whale who according to them controls bitcoin.

The Texas government endorses bitcoin adoption in an 84-page report. It recommends Texas buy bitcoin, pass self-custody protections, tax breaks for mining, and include bitcoin education in schools.
Source: https://t.co/JQOtDMKBp4

Your statement is too exaggerated.
There are still many good people who have careers in government and are fighting earnestly for the welfare of their people.
Bitcoin is a new technology that is believed to bring better changes in human life, but Bitcoin is very extreme.
Like other new technologies, it must have pros and cons. It takes a lot of time to change old opinions.

Lack of controversy over the citizens financial life is one of the major problem which is making governments if various country don't want to accept bitcoin and this is because of bitcoin decentralization. Looking at the way things are going I feel that the government is manipulating it's citizens mindset away from bitcoin which uses decentralized system, by creating their own CBDC which is centralized for the citizens to feel that all cryptocurrency are the same. Government can banned bitcoin now but I know that in the next twenty years from now they will have limited power on bitcoin acceptance.

It’s all about control because with bitcoin they have no control. Governments want to control what we buy, what we do, our finances. With bitcoin they have very little control. Whatever the government want you to do, you should do the opposite. They don’t care about us, they want us to be poor, go to work & pay our taxes.

The $ is the world reserve currency, it’s a massive ponzi, an over inflated house of cards & it’ll all come crashing dowj. Cracks are already beginning to show with their mindless money printing.

Buy bitcoin.

We must comply with every government regulation because the government is in control of the fiat that we have. But when we use bitcoin and it's decentralized, the government won't be able to regulate it. This is what the government is afraid of, they can't regulate people who are starting to switch to decentralized technology. Therefore the government provides strict rules on regulations Accepting Bitcoin or not. Even the implementation of the tax targeting centralized exchanges is not specific to each bitcoin holder because the government only has data from centralized exchanges.

They lack the power to control it. Why do you think China kicked off miners? It was the miners were challenging their authority or better still, it was as if they lost their they authority. They power to control money and invariably, control the people. One interesting thing to note with all of this happenings is that the price of bitcoin will only be affected for some few weeks and before you know it, it is moving towards its next ATH. No government can stop.

Government cannot task Bitcoin holders because they can't access the decentralized database, even if they tried.
They also cannot impede on the use and access to the exchange platform too, because anyone with a smart phone can login and trade in a second notice.

Whether the governments of some countries accept Bitcoin or not, Bitcoin will still be Bitcoin. It might not particularly be all of them, but most of these government officials, some of which criticize Bitcoin publicly, are indoors funding their portfolios with Bitcoin; some are loundering money and investing into Bitcoin without anyone knowing, and that also becomes their fear that, due to the decentralization of Bitcoin, they can't benefit much since it is not something that can be regulated, they fear that others may as well use it to lounder money. Just my opinion.
 
Speaking about Nigeria, where the use of cryptocurrency is not fully accepted due to the ban placed by the CBN, believe me, you will be amazed if you check the Bitcoin/NGN P2P option in Binance. you will relized that various individual wants to buy a huge sum of Bitcoin to Naira or either they are selling. Even if you check the USDT/NGN trade, you will see individuals that are selling or buying millions of dollars in Nigerian currency. I am not convinced that all these traders are just private individuals; some are government officials. I might be wrong though, but that's just what I think.
 
OP, from your topic and emphasis, I think you're just classifying the government as one, whereas every country has its own government that has a different perspective on bitcoin. Despite the fact that the government of some countries does not allow the use of Bitcoin, there are still countries whose governments permit the free use of cryptocurrency.
https://101blockchains.com/cryptocurrency-legal-countries-list/
https://www.thestreet.com/crypto/.amp/bitcoin/politicians-from-these-countries-have-called-for-bitcoin-adoption
 
P2P Buy/Sell oder on Bitcoin/NGN and USDT/NGN: a lot of big deals going on there.

What you say, we all know well. Honestly, we can't blame them either because I believe that if you or I were the government, we wouldn't be either. Government is also human, so they will be greedy and selfish like us, we cant expect them to accept bitcoin while it will affect their power.
It's like we hate fiat money because fiat only makes us lose our freedom, worse every time fiat depreciates, but that's good for the government. But sadly, we live under their control, so there is nothing we can do. 

yeah like everyone said. that the main reason is because the decentralized system makes the government unable to take full control. because after all government will always like something that is centralized. so they can stay in control.

and maybe another reason the government has quite a hard time in regulating taxes for its people who have a lot of wealth assets in crypto and bitcoin. But luckily in my country it seems the government is more open and supportive with cryptocurrencies. even though it is not legalized as legal tender. However, crypto-related education has begun to be carried out a lot. and the provision of crypto tax rates is not too high in our country.

Probably haha
We even cannot guarantee that the government actually also invests in Bitcoin or not. They may say they are against Bitcoin, but who will guarantee that they are not investing in Bitcoin to hide their money? 
Bitcoin will not allow them to control and regulate, that is why it is also about the power of control. They may also not be able to take any advantages or taxes from people who are having assets in Bitcoin. They always spread that Bitcoin has very big potential as a means of money laundering, but in fact, they don't care about it because most of them may also have been doing money laundering in various ways.

Transparency is their main issue, they can't hand such technology because they are too corrupt but of course we should also acknowledge the work of other country and applaud them by fully accepting Bitcoin as a legal tender and make this more legal, that's the proof that other government really concern with their people as they allow them to choose and give freedom. Bitcoin will be better, other government should start learning more about this so they can know if this can be a big help to many or just a burden.

A very common issue that we do have and the main reason on why we cant be fully adopted and recognize because it cant be easily be regulated on most places because government does really hate on something which is decentralized.We've seen lots of issues and complaints or reasoning which trying to bar down Bitcoin or do make out some false advertising or media but still ending up on failing because the crypto
community does know and also for those who do tend to learn up.

They might able to spread up false information about Bitcoin or crypto but once the truth been uncovered then this is where recognition and adoption
do gets stronger.

I believe most governments won't fully adopt BTC and there is no point discussing it. BTC was not created for all the governments in the world to accept it, that wouldn't happen and there are many reasons why it wouldn't. BTC is a second choice to government controlled fiat currencies, i don't believe they really should be interested in adopting this second currency that they do not have any power over.

The governments in power do not really need BTC. I.E If a big nation adopts BTC, they are helping to grow the BTC network and also to make things easier for their citizens that want to use BTC, but this big nation would not gain too much from it, they would even lose some of their financial control over their people. Do not wait for your government to adopt BTC before you spend it, you can look for merchants around you and online and spend your BTC, P2p trades of BTC for goods also happens over the internet and on this forum too.

You are right, the main reason the governments are not accepting bitcoin is the decentralization of bitcoin and due to the decentralization of bitcoin governments usually stand against bitcoin or they want to take control over it, because being decentralized means they won't be able to take control over it or they won't be able to monitor anything as they want. That's why they mostly spread bad words agist bitcoin and they want people to even avoid investing in bitcoin and try investing in stocks where the governments can get more benefits from it.

This decentralization of a thing is what has been making the government have a though time with bitcoin since it a no tolerance to their effect or role on the entire bitcoin network, they cannot adoption or support a system raised against their own interest and central authorities, this makes it a thing of much concern on them as the bitcoin network progresses so is their roles in financial economy decreasing.

I think it creates an equality and that's why it's so important. Look at fiverr and even though it's not five dollars anymore and it costs at least 100 dollars for anything, you will not find many Americans or British people there, it will be from nations that have a lower level of economy, and people from those nations work in fiverr to make that money.

I personally believe that crypto made this into a global thing, people all around the world found cheaper workers, and workers ended up finding more money and we all got together and switched the whole business world into its feet. They were the ones who produced things in China and sold it for American prices, so now people find those workers individually as well.

Governments run ponzi schemes through their national currencies which are heavily manipulated by the central banks. If they adopt bitcoin or a strong stable currency, like dollar, they won't be able to continue their populist welfare programs which distribute "free" money to the poor class, while raising their own wages and increasing the number of useless jobs' spots in the state for their friends.

Actually, governments don't want to fix the economy for real, because it's seen as an unpopular measure in the eyes of the masses. So they prefer to play with "shitcurrencies".

I don't think there is a direct answer to this question, even from other countries beside the western world, I know the response will be different because of differences in opinion and views.
Some will say, btc is not secure because of it's anonymity so it will be difficult for the government to track down illegal transactions such as tax evasion, money Laundering, terrorist financing.
They will always try to come up with reasons why they can't adopt btc