Why did the government want to kill Bitcoin? - page 17.

Anyobsss

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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.

I think you already know the reason and you just said it in your post. The anonymity of bitcoin user is what i believe the reason why many countries want to ban it. It could be use in cyber crimes like buying illegal weapons online, money laundering and etc. It is also decentralized meaning the government don't have a control over it.

mr_enoc

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In my opinion, they doesn't want to kill it but they wanted to do some rules about bitcoin in their country, the government really wanted to take some control in this digital currency, thats it!

Ethan Argu

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Goverment can't control bitcoin because it is decentralized one of the reason so they want to end or they did'nt accept bitcoin because they cant help goverment fot having a tax so they want to stop bitcoin because it cant help to thier country for example if they want to put tax in thier any transaction but did can't do because bitcoin is decentralized no one can control.

liseff3

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What you say isn't wrong and that's true very much in line with what's written in electronic media and newspapers. But in my opinion, such treatment isn't fair because many facts in the field which shows in fact the money are more widely used for various kinds of illegal acts.

A Feeder

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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.

you just answer your own question and yes, you're right. Bitcoin can be used to number of numerous crimes because of its anonymity But i think even if the governments want to destroy Bitcoin they don't have the way.

rockyboy

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The transations are very difficult to trace, that is correct but there are other countries that already declared it as legal. Maybe some countries did not find it well or good in their community.

adjudicator

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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.

Some government banned the bitcoin at their country, but it doesnt mean that they want to kill the bitcoin instead they believe that bitcoin may cause a big problem or threat to their country which is bad thing to them.

Elips1

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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.

Some other governments wanted to kill bitcoin because they wanted to centralize it but i think it will not happen because bitcoin is a decentralized cryptocurrency that none government and other institution could able to manipulate it.

Kayuslawal

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They have to power to kill the use of bitcoin, btc is decentralized currency that's not easily control by any given party of a government.

hirngespenst

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I don't think any governments want to kill bitcoin, because killing bitcoin won't help them. Rather they want to control bitcoin. And why they want it? You gave the answer too. I think Tax evasion is the main reason to pull down bitcoin. But many governments still can't do that with bitcoin. Money laundering, money using by criminal in crime and other bad things are happening with every money in this world, not only in bitcoin. So, the reason is tax evasion

Raja_MBZ

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Governments want to kill bitcoin simply because they're unable to compete with its deflationary nature.

Read the following article available at IMF official website:

https://www.imf.org/external/pubs/ft/fandd/2018/06/central-bank-monetary-policy-and-cryptocurrencies/he.htm

Quote

Monetary Policy in the Digital Age - Crypto assets may one day reduce demand for central bank money

blackwell77

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Crypto is passing their best time and the future may be better. But some governments want to take control of it but it's really stupid. Crypto is a decentralized market method . Where everyone freely trade. I think it would do better if it continues.

Camster

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I believe the government wanting to kill Bitcoin was all for our entertainment. If they didn't want it they would ban it. This is all a show. The governments want cryptocurrency so they can track all transactions. They will get it.

Patron92

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Bitcoin can disrupt the entire familiar state system, reduce the number of jobs in banks. And most importantly - taxes. Bitcoin excludes them.

CanyonsBull

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You are completely right. There are some other issues like: govt wants to trace the monetary transactions so that they can be ensure security. Decentralization is the main threat here.

Glutius

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The government is simply unprofitable to use bitcoin, because it can not be controlled, to take taxes from it. And the authorities usually want to have as much money as possible.

pavel08

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I think the government is against bitcoin because they are afraid that finances will spill into the crypto currency and they will not be able to control the movement of money not only in their own country but throughout the world

lumon2112

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The revolutionary trading ecosystem

so, see ratsiyu, the order simply can not vidslidkovuvati i kontrulyuvati operatsiї z him, that stink yogo and be afraid)))

blackwell77

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yes that is also my question that why the government wants to ban bitcoin, basically there is no specific reason behind it many topic and reasons are related with it, maybe the government does want to deal with it cause there is no direct authority of it so there is no one to control

Thatsit

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Actually, it seems to me that it is nothing but a complete government failure. Because the expression of those countries which banned Bitcoin is that their country is involved in corruption due to the use of Bitcoin, criminal activity is increasing, terrorist financing, money laundering, etc. Let's look at a little notice that those countries, they are continue always go ahead in corruption, continue to terrorism. So, without using bitcoin, can they prevent these activities? Rather they have their country, society, economy, and they are going Backward their future from the present world.

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