Most of the reasons as to why the govt would be adamant on fully accepting Bitcoin has been enumerated here but I'd like to point out another reason; encouraging and accepting Bitcoin will directly mean they are relinquishing control and without control over your finance, it becomes difficult for banks to dictate how you spend your finance.
Till date, there has been the issue of banks and govt fighting against the digital coin, with it's penchant for high volatility, it is regarded by them as unstable and untrustworthy; these are true facts but their main reason of objection is so control is not taken from them. Too bad for them that the scales have fallen from people's eyes.
Topic: Main reason government won't fully accept bitcoin - page 5. (Read 545 times)
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 main reason behind not accepting Bitcoin is because Govt will not be able to see the actual portfolio of any citizens and they will not be able to charge tax. Bitcoin is decentralized and it's cannot be controlled by government. Central Bank are the main opposition of Bitcoin in any country. If people start to make invest in Bitcoin then They will withdraw money from the bank and no government want this.Quote
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 .
Yes this is also one reason and only those citizens can use it for payment system whom can use mobile also. Rural area citizens will not be able to do this. The supply of BTC is also limited and price of btc is also variable and did not backed by any thing.
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.
In developed countries where humanity is respected and citizens have rights to fight for their freedom, governments are not free to do everything they want. They have to step back and accept some requests from citizens.Oppositely in developed countries or ones from third world or from countries with dictatorship like Russia, North Korea, Cuba etc. people have zero freedom or little freedom. They don't have basic human rights and governments have more power.
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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 won't die, governments can not banned it or killed it entirely. If they can not banned the Internet and can not restrict ASIC manufacturers and Bitcoin mining farms, they can not kill Bitcoin.Quote
If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.
They can not steal your bitcoin if you store your bitcoins in non custodial wallets.In contrast, they can steal your bitcoin if you store it on centralized exchanges that can be fully controlled by governments.
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.
You are correct, OP; as we all know, there are numerous reasons, aside from the one you mentioned, why bitcoin cannot be accepted by the government. It is not the case that they can print as much fiat and steal as they want. Today, government funds are stolen or diverted to different accounts which are not in physical currency form but in digital form. Being decentralized means they can't print it. So your point about them not being able to print it as they please is one of the reasons it is decentralized.
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.
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