Why did the government want to kill Bitcoin? - page 11.

3acaga

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Quote from: Handsome Boy on July 20, 2018, 07:48:35 PM

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

Yes, you are a bit right-money laundering, terrorism and financial frauds are certainly present in the bitcoin. But no more than the government itself can afford to do what it wants with money. They are simply very much afraid to lose control over financial means from which they collect taxes on social projects (I'm writing about very developed countries without corruption). And these countries will still have to legitimize bitcoin - because it's the future, and if they do not they will lose everything ...

Om.monata

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the government feels worried if bitcoin can disrupt economic stability in a country, this can happen because now in a lot of bitcoin users who are not officially registered in the government because it is not bitcoin legalkan. but we do not have to worry the government can not kill bitcoin because the government has no authority

haidil

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not all that the government knows about bitcoin .. and also back each consciousness will be used for what .. because the system now that already kyc so may be safe for transactions

Bitcoinbitcoin0909

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Quote from: Handsome Boy on July 20, 2018, 07:48:35 PM

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

A lot of government in the world sees bitcoin as a threat to their economy knowing that it has its own system. They are banning it also because they are not gaining from it unlike with banks. It is gaining more and more investors as time passes by and the money people are earning from it is taxless most of the time and that can also be a factor why government keeps on banning crypto specially bitcoin.

takseindahdulu

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maybe they do not understand what that bitcoin really is. Most governments recognize it as the "Virtual Currency" currency of its kind used to make certain transactions online.

riyarana1123

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Not every nation want to kill bitcoin but some countries are their who want to kill the BITCOIN.If in case every nation is come to kill bitcoin at that time it can be happen that the bitcoin will die but now when some countries are their who are not against the bitcoin it is very difficult to kill bitcoin all over the world.Moreover the reason that why some governments want to kill the bitcoin is that they might not understand how to use the bitcoin or they have a fear of any economical lose of their country.Some false news and scams also effect the image of BITCOIN in the eye of some nation but i truly believe that one day every country start regulating bitcoin very soon and no country will try to kill the bitcoin.

Fredomago

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Quote from: Coinnosaurus on July 30, 2018, 10:52:04 AM

Governments are afraid that they will not be able to control everything as they do today. But there is a tendency that many governments understand the inevitability of change and become more loyal to cryptocurrencies

That's the reality, government thinks this way in terms of financial aspect, and most of the government are also been influenced by big banking system, this two govern bodies for financial institute are afraid that crypto will be able to dominate and the chain reactions will follow, crypto will lead their businesses to a danger zone, while government controlled over the finance aspect will overdo if the system will continue being anonymous, but there's
also considerations that we just need to wait and see the results.

RyhaniFoyej

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The first reason is its security system for this reason no one can find the person who has which amount of money. For this reason some people keep their money into bitcoin and not giving the taxes. For this the government think it is not helpful for the country if people do not give taxes correctly. This is the main reason why did the government want to kill Bitcoin? If it could register like a bank account then government will accept it but this is not possible at all.
Thank you.

parazhia

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First, it is dangerous for the survival of a country. second, can be easily used for illegal acts. I think that's enough

joshua0502

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it may be true because crypto curreny was a decentralize economy. No one will accuse or will punish you if your doings is wrong. this is an easy way for bad guys around the world to negotiate and to transact on their client for the personal purposes. that is why the gorvernmen are making a move to hold or kill the bitcoin to stop this matters. if they still continue for what they doing, I think the government will go hard just to stop the function of bitcoin even though it is a big community to be against they will put up all their efforts just to stop it and stop all the bad guys who's using it.

Coinnosaurus

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Governments are afraid that they will not be able to control everything as they do today. But there is a tendency that many governments understand the inevitability of change and become more loyal to cryptocurrencies

Captain Sneeze

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Quote from: Handsome Boy on July 20, 2018, 07:48:35 PM

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

Why government want to kill bitcoin? the reason is because government want to control bitcoin and we all know bitcoin is no tax payment also bitcoin is danger for other fiat currencies also for economy.

jayveerastrullo

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Governments want to kill bitcoin maybe because their citizens are being scam by other users. Another one is that there are many users that became rich in bitcoin, like they gained a lot of money but they do not pay taxes at all.

Twentyonepaylots

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Quote from: Al-e_x on July 21, 2018, 04:33:38 AM

you are not wrong, and that's right, crypto also has a huge risk, because its volatility is hard to predict, but on the other side, I think the government feels threatened by bitcoin, they are afraid of losing national currency. so they try to cover crypto.

we have different opinion on the above topic, the main issues are just basic, government financial institution and business world were not ready to totally accept Bitcoin or crypto digital system of transaction. There is a lot of issues concerning allegation on the used of Bitcoin transaction in term of Illegal Nature, that's why they want a total Regulation, Control and even the issue on Taxation of every transaction on Bitcoin in the market.

eydrea

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That was everyone thinks. You already list those reasons on what ideas or reasons the government thinking about bitcoin. As of now they cant see bitcoin as valuable because of its uncontrollable changes. They cant recognize the potential of bitcoin. They only see bitcoin as virtual currency used for online payments. As of now there is no way a government can easily kill bitcoin so stay calm.

josephpogi

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Quote from: Handsome Boy on July 20, 2018, 07:48:35 PM

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

government to ban bitcoins because it can be used for illegal activities. But fiat money is also used in illegal activities, maybe they want to do something else. They may want to control it in their hands and to have more profit.

Sofiyah

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I've read some threads that talk about bitcoin and government. why fear the government that will kill, or disturb the bitcoin? the government can not be that easy to control bitcoin. just calm down, the government is just scaring, they will not really eliminate bitcoin if there is not a big problem involving bitcoin. stop talking about the government and bitcoin. just try to help the bitcoin to keep growing and improving.

caeles

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It is true that those cited problem can be encountered by means of bitcoin transactions, but i think it is not right for the government to literally eliminate bitcoin. Bitcoin is the new generation. It is the evolution of market. The only thing that must be encouraged is awereness. Everyone should be aware of what is just. Government should be more careful and legislatively responsible for those cryptocurrencies not only bitcoin. It is just a matter of rules and regulations. There is no need for total elimination.

Fmradio98

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Indeed, that is the thing that the legislature is stressed over, so they've restricted bitcoin, yet the greater part of the nations that boycott bitcoin are degenerate nations, so they're stressed over gigantic capital outpourings.

bachus

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Quote from: Handsome Boy on July 20, 2018, 07:48:35 PM

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

Probably some of the government's in the world are seeing bitcoin as a direct thread to there rules programs, because it is decentralised and so nobody can tell you what to do in that case.

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