Topic: Main reason government won't fully accept bitcoin - page 4. (Read 632 times)
Yes dear agreed on 1 point the world outside is too ruthless and selfish. It always teaches you a lesson. But i think you need some modifications in your theory of why governments don't accept BTC or Bitcoin adoption theory. My dear fellow the only reason that All governments are not going to accept Bitcoin is just the nature of opposing or difference in point of view. That's it... Some are greedy some, are selfish and some are scared.
To be fair, most people involved in the government aren't able to print money either. However, they're currently getting paid in fiat, and convincing that another currency which they currently don't get paid in, is better will be hard. Especially, when these types of people generally don't care too much about money, since they're earning more than the average person will be able to comprehend. Obviously, they care about money, but they don't care about a completely different approach to money, because they're already successful with the current money system.
Generally, Bitcoin is adopted by the less fortunate. Obviously, this isn't the case for everyone there are successful people involved in Bitcoin, but they probably aren't being funded by fiat, the way that government officials would be. Plus, I do think there's genuine reasons why a government wouldn't want to adopt Bitcoin, especially in it's current state. I probably wouldn't even recommend adopting Bitcoin completely.
Generally, Bitcoin is adopted by the less fortunate. Obviously, this isn't the case for everyone there are successful people involved in Bitcoin, but they probably aren't being funded by fiat, the way that government officials would be. Plus, I do think there's genuine reasons why a government wouldn't want to adopt Bitcoin, especially in it's current state. I probably wouldn't even recommend adopting Bitcoin completely.
Op's points are very generic. Firstly, there are governments which do accept Bitcoin, which already means that the statements aren't universal. Also, corruption is a global problem, but the severity of it strongly varies from one place to another.
Secondly, there are very different governments based on political regimes (democratic, hybrid, authoritarian) and circumstances (strong or weak economy, sanctions or no sanctions). If it's a democracy, it's harder to restrict something there, including Bitcoin, than in other political regimes. If there are big motivating circumstances, even a regime that would prefer its people not to enjoy the financial freedom that Bitcoin gives can opt toward more friendly policies. Moreover, you're saying the reason isn't that it's decentralized, but then say it's because they can't print it, which is actually precisely because it's decentralized.
Secondly, there are very different governments based on political regimes (democratic, hybrid, authoritarian) and circumstances (strong or weak economy, sanctions or no sanctions). If it's a democracy, it's harder to restrict something there, including Bitcoin, than in other political regimes. If there are big motivating circumstances, even a regime that would prefer its people not to enjoy the financial freedom that Bitcoin gives can opt toward more friendly policies. Moreover, you're saying the reason isn't that it's decentralized, but then say it's because they can't print it, which is actually precisely because it's decentralized.
You said the government won't be able to print Bitcoin like Fiat, but they can manipulate the price by releasing a deadly virus to give faded hope to humanity so they can grab every chance ..
You do get that doing the latter is much harder than just changing a number in the database, right?They call Bitcoin fraud and later behind the scene they buy as many as they can, how sure are you that the government isn't buying bitcoin for years already, they can't beat Bitcoin, accepted, but they can join the train and create fear and panic to drop the price.
In the EU and USA, the government spending is publicly known. A country can't just buy billions without the rest knowing it, unless it's completely non-transparent. 
In our part of Africa, Crypto usage has become very dominant in West Africa Nigeria, and Ghana, It has become a savior to the depreciating cedis and the naira yet the central Government of both countries is doing everything to curb these activities. Crypto companies in Ghana and Nigeria are still suffering under the hands of SEC on assets bans, the fear of the unknown is the main reason why the government of Ghana and Nigeria is not willing to adopt cryptocurrency and give room to the rise of crypto companies
1. https://cryptonews.net/editorial/regulation/fear-of-the-unknown-prevent-the-government-of-ghana-to-accept-bitcoin/
2. https://blog.mybitstore.com/how-is-crypto-and-blockchain-adoption-progressing-in-africa/
3. https://african.business/2022/07/technology-information/what-you-need-to-know-about-the-central-african-republics-adoption-of-bitcoin/
1. https://cryptonews.net/editorial/regulation/fear-of-the-unknown-prevent-the-government-of-ghana-to-accept-bitcoin/
2. https://blog.mybitstore.com/how-is-crypto-and-blockchain-adoption-progressing-in-africa/
3. https://african.business/2022/07/technology-information/what-you-need-to-know-about-the-central-african-republics-adoption-of-bitcoin/
Money is a big business.
Building trust takes time and consistency, This is a marathon, not a sprint, and I still believe the government finally comes to terms with BTC. Crypto is a world. Just buy when the dips and wait for another pump on the way.
Btw, It looks like Texas has finally seen the light
Building trust takes time and consistency, This is a marathon, not a sprint, and I still believe the government finally comes to terms with BTC. Crypto is a world. Just buy when the dips and wait for another pump on the way.
Btw, It looks like Texas has finally seen the light
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Because of not being able to control Bitcoin, the government gives various restrictions. Basically to hide their inability, they try to bring forward some negative aspects of using Bitcoin. But the reality is that most of the government loses by the using the strategy too. Because the use and potential of Bitcoin is at its peak everywhere. People's loyalty to using bitcoin is constantly increasing. It is now used as the top of all payment methods and investments. But when the next generation can't imagine anything but Bitcoin, the government will have no alternative but to take a positive stance on Bitcoin.The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Bitcoin is everything fiat would ever be with its decentralized and anonymous nature, and government don't like such things, not being able to track the transaction activities of people is not a good idea. Bitcoin gives power of financial freedom to the people which makes it very popular and ready to compete with traditional currency owned and controlled by the government.
As a result, governments are finding it difficult to adopt btc because it could potentially compete with their own currency and undermine their ability to control the money supply and interest rates. Although there are other reasons but to me, this is the most significant among them all.
As a result, governments are finding it difficult to adopt btc because it could potentially compete with their own currency and undermine their ability to control the money supply and interest rates. Although there are other reasons but to me, this is the most significant among them all.
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
First we should look at the indices that make up the whole concept of bitcoin and what it stand for, as we journey into acquiring more knowledge about bitcoin we open up our mind to accept a decentralized and proven cryptography. The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Just like mathematical equations bitcoin as a computed data have made decentralization and independent individual freedom more achievable.
Beuocratic government may not welcome the idea of decentralization, but bitcoin have continued to thrive for better industrial technologies making it evident with proven track records.
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Because of not being able to control Bitcoin, the government gives various restrictions. Basically to hide their inability, they try to bring forward some negative aspects of using Bitcoin. But the reality is that most of the government loses by the using the strategy too. Because the use and potential of Bitcoin is at its peak everywhere. People's loyalty to using bitcoin is constantly increasing. It is now used as the top of all payment methods and investments. But when the next generation can't imagine anything but Bitcoin, the government will have no alternative but to take a positive stance on Bitcoin. The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
It is actually not so much about self interest but mostly about control. For example imagine if the government wanted to freeze someone's money (like the Canadian government did last year to its protesters) they can only do it if they have full control over their people's money otherwise if people were using something they have zero control over (like bitcoin) there is nothing they could do.
Ergo the governments are almost always against bitcoin and want to prevent bitcoin adoption, of course exceptions apply like El Salvador.
Ergo the governments are almost always against bitcoin and want to prevent bitcoin adoption, of course exceptions apply like El Salvador.
Governments that really want to advance their people are very rare nowadays, mostly they want to enrich themselves.
everything has been seen from the start that they are running for government, everyone is playing money to win, even though things like that are strictly prohibited and do not show leadership.
that's why bitcoin came as a decentralized currency, they immediately rejected it.
everything has been seen from the start that they are running for government, everyone is playing money to win, even though things like that are strictly prohibited and do not show leadership.
that's why bitcoin came as a decentralized currency, they immediately rejected it.
I don't fully accept.
You said the government won't be able to print Bitcoin like Fiat, but they can manipulate the price by releasing a deadly virus to give faded hope to humanity so they can grab every chance ..
They call Bitcoin fraud and later behind the scene they buy as many as they can, how sure are you that the government isn't buying bitcoin for years already, they can't beat Bitcoin, accepted, but they can join the train and create fear and panic to drop the price.
Do you know that people are paying taxes on their Bitcoin holdings? That's bringing in money as well, there are ways they can still monetize this crypto space as a whole, do not underestimate those people.
It's a good thing that Satoshi Nakamoto is unknown, he knew what will happen if he came out in the open.
You said the government won't be able to print Bitcoin like Fiat, but they can manipulate the price by releasing a deadly virus to give faded hope to humanity so they can grab every chance ..
They call Bitcoin fraud and later behind the scene they buy as many as they can, how sure are you that the government isn't buying bitcoin for years already, they can't beat Bitcoin, accepted, but they can join the train and create fear and panic to drop the price.
Do you know that people are paying taxes on their Bitcoin holdings? That's bringing in money as well, there are ways they can still monetize this crypto space as a whole, do not underestimate those people.
It's a good thing that Satoshi Nakamoto is unknown, he knew what will happen if he came out in the open.
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
The main reason why the government won't accept bitcoin is because they can't regulate, trace, or track it. They want to at any time investigate and monitor your financial activity and, if necessary, freeze your assets, raise interest rates, and collect taxes. But bitcoin is so decentralized that it is ubiquitous due to how it is distributed. As a result neither the Commodity Futures Trading Commission (CFTC) nor the Securities and Exchange Commission (SEC) can easily impose their will across borders. Furthermore, there's no one the government can hold responsible for anything that goes on with bitcoin.The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
1. https://www.skadden.com/insights/publications/2021/04/the-distributed-ledger
2. https://www.everycrsreport.com/reports/R44918.html
3. www.govinfo.gov/content/pkg/CHRG-115hhrg31384/html...HRG-115hhrg31384.htm
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
At least for western democraties, that's a dire view of elected officials. Perhaps Plato put it in a more balanced way in The Republic (mother of said western democracy), to the effect that the best suited to rule are least likely to want to, and perhaps those less suited to rule will be more inclined to desire power due to their own shortcomings.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can. If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
That's not quite correct, in my opinion, in the sense that the finance industry successfully lobbies to create incentives against decentralised financial tools, which otherwise they want to continue to provide and control, at a premium. I've been on the lobbying side, and in my experience it is laughably easy to convince officials to see the light, usually because of very human insecurity and reverence issues, rather than outright bribes.
The other and major part of governmental non-acceptance is, I believe, precisely the decentralised qualities; every government's first and foremost issue is the successful taxation of its constituents, and in a fully decentralised financial system neither verification nor enforcability are feasible.
Well, I think the main reason is fear. They can't control Bitcoin and that's why they're afraid. It can't be confiscated or held. Also the fact Bitcoin is actually doing better than any FIAT currency: it's free from inflation as it has limited supply etc 
Another proof, many country trying to develop CBDC that are used to divert crypto users. It seems that China has succeeded with government coercion, although I heard that there are still crypto activities being carried out. CBDCs I think are ultimately the same as coins or paper money because their system is centralized, so control is in the creators or the government.
This is quite contrary to crypto technology. Even my country has issued a Whitepaper for the CBDC project although I am now very happy that Crypto has been recognized as a commodity asset in my country. Even they have implemented taxes from crypto.
They do can! but the way of the government steal our Bitcoin is different.
They can't print more Bitcoin out of thin air, but they can force their citizens to use the exchange and wallet they've built, they can create an exchange with high trading fee, withdrawal fee and automatic income tax calculation on their own wallet and exchange.
It's actually a win-win solution for both government and citizens, but making Bitcoin become legal tender isn't easy task since they need to follow the whole Bitcoin regulation and they need to face a politic problem from countries which ban Bitcoin.
They can't print more Bitcoin out of thin air, but they can force their citizens to use the exchange and wallet they've built, they can create an exchange with high trading fee, withdrawal fee and automatic income tax calculation on their own wallet and exchange.
It's actually a win-win solution for both government and citizens, but making Bitcoin become legal tender isn't easy task since they need to follow the whole Bitcoin regulation and they need to face a politic problem from countries which ban Bitcoin.
Governments want to intervene in humans' lives. The market the least, let's leave the personal part asides. They intervene in the market with taxes, and, if they're tied with a central bank, with the creation of money. Such ability is without doubt strengthening the government, because it gives the power to experiment with the economy without paying the potential loss; that will be paid by people who don't have a direct affiliation with this practice. So, any mistake a governmental secretary does, isn't paid by themselves, but by another fellow. So, there is less incentive for the secretary to not think recklessly.
Bitcoin isn't administrated only by the people in power, but by the people in general. That obviously isn't liked by the people in power.
Bitcoin isn't administrated only by the people in power, but by the people in general. That obviously isn't liked by the people in power.
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Government will not likely rely 100% something that isn't thier creation and something they cannot control. The government knows how to control her citizens. They know how to filter the information and give us mutilated information.
The government is used to crooks and manipulation, it they will not accept bitcoin which they cannot easily manipulate.
Another question is why accept alternative currency when you have a working and well trusted fiat?
The kind of people we have in government are people who always want to fight for their selfish interests, anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
The reason government won't accept bitcoin is not because it is a decentralized currency, it is because they won't be able to print it like they print fiat to steal as much as they can .
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
Well, I think the main reason is fear. They can't control Bitcoin and that's why they're afraid. It can't be confiscated or held. Also the fact Bitcoin is actually doing better than any FIAT currency: it's free from inflation as it has limited supply etc
Jump to: