They worry about the impact on their financial system in the event of a Bitcoin bubble explosion and its bad consequences. Managers around the world are worried about virtual money being abused for money laundering and other criminal purposes.
You have a point! Other government worried about virtual money, because some people abuse it for money laundering and other criminal purposes. Other government wants to stop bitcoin for thier personal purposes. 
Topic: Why did the government want to kill Bitcoin? - page 14. (Read 2301 times)
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.
Aside from those illegal acts by lawless elements, the governments also want their own currency to only dominate the market so that they can fully control everything from us most especially all our centralized assets. Good thing about centralized assets is that they are pretty stable though lacks in privacy and security unlike Bitcoin wherein we can evade tax on every online transaction me made.but this is just my opinion, so if I am wrong I apologize.
Thank You.
There is no crime you have mentioned here that cannot be committed with fiat. So therefore, they are not peculiar to Bitcoin alone. Or will they also forbid their fiat for being used for the same offences? The response is surely NO!
Because crypto currencies are threatening the modern world order. Yes, yes, everything is so serious. If bitcoin becomes really massively used (or any other decentralized crypto currency), then the modern financial system can change. And this is extremely unprofitable for those people who sit at the top of power. Therefore, there is such a great resistance to the development of bitcoin
One reason is that bitcoin is a decentralized cryptocurrency that runs on blockchain technology,so I think the government wants to kill it because they can not control it and see bitcoin as a threat to their financial system.Besides that bitcoin is widely used as payment for illegal transactions,purchases and sales on the black market,and bitcoin is very difficult to detect because that's why the government wants to kill bitcoin.
There are too many reasons for them to do this. Bitcoin helps users to be anonymous, so they do not need to pay taxes. In addition, it facilitates illegal activities such as bribery, corruption, money laundering and many other behaviors. Besides, it threatens the development of cash, where the bank and the government are profitable.
Because, as always, what they can't control, what they don't understand, what is new or seems dangerous, tick one or all, they want to kill it or at the maximum limit it. Power, control and money are always the top priorities and as soon as they could not control it they prefer to try to kill it.
the most chance for Bitcoin and crypto is that more and more people take part of crypto wolrd that will push the government/institutions to accept it evan with adaptation.
the most chance for Bitcoin and crypto is that more and more people take part of crypto wolrd that will push the government/institutions to accept it evan with adaptation.
Simple. The government knows that they do not have control over bitcoin and altcoins since its decentralised currencies. And moreso, they know that they cannot tax users of bitcoin locally or globally.
Government is always scared of new things. It's true that currently Bitcoin transactions are much harder to catch and this gives criminals a very good chance to hide their money. But Bitcoin was not designed to help criminals it was helped to social common people needs but just like everything else, it is also being used on the negative sides. But once Bitcoin becomes very popular big companies will grab the transactions to find who made the transactions and they will be able to track down everyone because they will have everyone's information in the future just like Facebook.
Because they have not managed to match Bitcoin due to anonymity and some risk of digital money! Need more time!
I think its because of the banks the goverment wants to do these type of stuff. banks are worried about crypto. if government regalize it people will not use banks and remove the money from banks and deposit in crypto .
This is as a result of them not been able to control the bitcoin as they want to personally control bitcoin but to no avail
Bitcoin users don’t need the existing banking system. The currency is created in cyberspace, when so called "miners" use the power of their computers to solve complex algorithms that serve as verification for Bitcoin transactions. Their reward is payment with cyber currency, which is stored digitally and passed between buyers and sellers without the need for an intermediary. On a smaller scale, airlines reward miles function in a similar way, enabling travelers to purchase plane tickets, hotel rooms, and other items using airline miles as virtual currency.
If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs? While the financial crisis gave bankers an even worse reputation than they already had, there is something to be said for institutions that oversee timely, effective, and trustworthy asset transfers and their associated recordkeeping. There’s also the issue of the fees banks earn for the services they provide. Those fees generate a lot of revenue and a lot of jobs across the global banking industry. Without banks, those jobs disappear, as does the tax revenue those banks and their employees’ paychecks generate. Money transfer business would also disappear in a virtual world. Nobody needs Western Union or its competitors if everybody is using bitcoin.
If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs? While the financial crisis gave bankers an even worse reputation than they already had, there is something to be said for institutions that oversee timely, effective, and trustworthy asset transfers and their associated recordkeeping. There’s also the issue of the fees banks earn for the services they provide. Those fees generate a lot of revenue and a lot of jobs across the global banking industry. Without banks, those jobs disappear, as does the tax revenue those banks and their employees’ paychecks generate. Money transfer business would also disappear in a virtual world. Nobody needs Western Union or its competitors if everybody is using bitcoin.
True, the banks provide a valuable service in overseeing our safe usage of a currency for things on a micro level. When we use the money for our day-to-day needs, the bank should be there to provide us support in case something goes wrong, and they do it quite efficiently.
The thing that is erupting with globalization is the demand for affordable international transfers, and bitcoin is becoming a vehicle in that service. Western Union used to have a monopoly in that but now it can get as low as 1% from mid market rate depending on what service you use. Bitcoin can't quite beat that, but many people are willing to pay more for the features that bitcoin offers, such as anonymity (and therefore tax evasion). This is seen as a threat because not only the governments are losing out but the money lending institutions as well.
Governments always want to show their supremacy over everything that is found within their nation and here is the case bitcoin is giving the chance . So out of this then lets kill it from the system in order not for it to take over the country one day, but i no for sure that they will live to regret it and join later since if you cant beat them 'bitcoin', then you just join them 'bitcoin'
Yes that is right, governments have some worries about it. I think that they want to have control over bitcoin, but they also realized that it is not so easy even impossible therefore they are against bitcoin, but i think that very soon they will realize the bitcoin importance and will therefore they will accept bitcoin as legal currency and will allow bitcoin in their country to trade legally.
Governments always want to show their supremacy over everything that is found within their nation and here is the case bitcoin is giving the chance . So out of this then lets kill it from the system in order not for it to take over the country one day, but i no for sure that they will live to regret it and join later since if you cant beat them 'bitcoin', then you just join them 'bitcoin'
Certain Government's are just trying to regulate bitcoin,make it taxable,but its not possible,while other governments are just embracing it..
for me not all governments might kill bitcoin in their country. Because of this, our country loves our bitcoin because it helps poor people. Maybe other governments in the world want to kill bitcoin because they do not know about this
Bitcoin users don’t need the existing banking system. The currency is created in cyberspace, when so called "miners" use the power of their computers to solve complex algorithms that serve as verification for Bitcoin transactions. Their reward is payment with cyber currency, which is stored digitally and passed between buyers and sellers without the need for an intermediary. On a smaller scale, airlines reward miles function in a similar way, enabling travelers to purchase plane tickets, hotel rooms, and other items using airline miles as virtual currency.
If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs? While the financial crisis gave bankers an even worse reputation than they already had, there is something to be said for institutions that oversee timely, effective, and trustworthy asset transfers and their associated recordkeeping. There’s also the issue of the fees banks earn for the services they provide. Those fees generate a lot of revenue and a lot of jobs across the global banking industry. Without banks, those jobs disappear, as does the tax revenue those banks and their employees’ paychecks generate. Money transfer business would also disappear in a virtual world. Nobody needs Western Union or its competitors if everybody is using bitcoin.
If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs? While the financial crisis gave bankers an even worse reputation than they already had, there is something to be said for institutions that oversee timely, effective, and trustworthy asset transfers and their associated recordkeeping. There’s also the issue of the fees banks earn for the services they provide. Those fees generate a lot of revenue and a lot of jobs across the global banking industry. Without banks, those jobs disappear, as does the tax revenue those banks and their employees’ paychecks generate. Money transfer business would also disappear in a virtual world. Nobody needs Western Union or its competitors if everybody is using bitcoin.
Since the Government has no control then obviously that the Government has no income in any bitcoin transaction and this crypto will also kill the bank industry thats why the Government is trying to demolished by banning crypto.
personally, the government want to kill Bitcoin because they want to control Bitcoin like other currency but Bitcoin is called digital currency, so they can not control it
Actually, I agree with you. It's true government try to control it but their are don't do that. Jump to: