Why did the government want to kill Bitcoin? - page 2.

doolittle

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Quote from: Handsome Boy on July 20, 2018, 08:48:35 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 have correctly said everything, but there are also other reasons. For example, such as money should be under the control of the state, and make a profit. A bitcoin profit brings only those who extract it, i.e. miners. And the state is not interested.

Caraphernalia

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For me, government see bitcoin as a threat to the country's economy. They see bitcoin as an illegal currency and this is not good for them. And also bitcoin is unstable so this makes the government to have fear.

Bondho Kompeni

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Adoption Blockchain e-Commerce to World

Many governments are afraid of bitcoin because it can threaten the use of fiat, and if bitcoin is more popular and widely used it becomes an economic threat because the government has no power to control.

jojowar

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For me, the government didn't want to kill bitcoin but they make some study on how to regulate and how to make some revenue or taxes out of it.

indrakusumaindra

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The Standard Protocol - Solving Inflation

Quote from: Handsome Boy on July 20, 2018, 08:48:35 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 opposite, its even easier to track the transaction based on blockhain technology, Only foolish who use blockchain to laudry their money , cause eventually they will get caught cause there is a record that will never be able to delete. Goverment not trying to kill bitcoin but i think they are think how to make this usefull and how to make transaction using bitcoin legal.

_w_b_t_

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There are versions that some government directly participated in the creation and promotion of Bitcoin. To kill a cryptocurrency is a ridiculous idea, any government understands this.

shadowdio

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Zawardo

Quote from: Handsome Boy on July 20, 2018, 08:48:35 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.

Yep you're right that's what government thinks it can be used any crimes and some government think it can go down their economy, they should look in japan there having no problem with using bitcoin.

[email protected]

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I do not think they want to kill the bitcoin they just want to adjust it. We all know that some people use bitcoin in illegal ways that is why the government is afraid that other people can join but they have no control so they only give some warning. Bitcoin users are anonymous so it is difficult to determine who is using bitcoin in a bad way

fireman2001

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In my opinion, The Government want to kill Bitcoin beacause:
1. Some of them are intimidated by it, and
2. There are no tax laws on BTC, and this makes the Government of some countries wanting to kill BTC.

Yelosita

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Because the government is afraid that bitcoin will be increasingly used as transactions. Then they narrowed the space for bitcoin to suppress illegal transactions and funds for terrorists. Because bitcoin is anonymous, it is feared that the flow of funds cannot be tracked by the government which results in illegal activities becoming out of control. Because the main objective of the government is to protect its people from misuse of financial transactions that can cause problems for its citizens.

Leo Barnes

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Quote from: Handsome Boy on July 20, 2018, 08:48:35 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.

Terrorist financing, money laundering, weapons purchases, this activity already exists even without bitcoin authority only wants to access full of control with bitcoin the question is how?

goodluck0319

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bitcoin has the whole point that it opposes itself to everyone, because it is not subordinated to anyone. Therefore, such a reaction is the norm

Varuj

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The government wants to ban Bitcoin because it can not control it. And with the help of ordinary fiat money, they rule the world especially with the help of the dolarra. But the end of total control over the world with the help of money. Bitcoin is the currency of freedom and the one who has used it will gain a real freedom.

Amokomowo2005

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https://eloncity.io/

Government is not trying to kill bitcoin if we can have a deep think of what is really making them afraid which i believe is fear of risk associated with the use of bitcoin.

hilawnasaging

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The government wants to kill bitcoin because it evades taxes and they will lose control on the money you are taking with. First, tax evasion. We all know that bitcoin is a cryptocurrency which means that the government doesn't have any control of it. Which means that even do it enters a certain country, if the government doesn't have the authority or any laws are not against it, well you can import it due to its lacking of law firms. Second, they cannot control the price and they cannot stop the entering of bitcoin. Because of the lack of knowledge against cryptocurrency, the people around the government are taking advantage for them to import some bitcoin for their own needs. But it is legal and they don't commit crimes. That is why bitcoin is safe from government because the government doesn't have knowledge about it and they don't have the power to diminish it to their territory. That is why some government prefer to reject usage of bitcoin in their sovereign.

Saldom12

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I think the government wants to kill bitcoin, because the government doesn't like bitcoin. I don't know why the government doesn't like bitcoin, maybe because they can't control bitcoin.

btcCoincart

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Just one simple reason, they can't control bitcoin, they don't know how it will be and how it will impact the country currency, that's why they want to abandon it.

Kennedy

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Well, to be honest we are all aware all of those things. Yes they can use it for terrorist financing, money laundering, crime and bad things like this. But on the other hand why don’t we try to see bitcoin’s efficiency and its benefits? Why we don’t appreciate it enough? It could also use for good causes. I think it’s our minds that needs to change first.

alpcaba45

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countries prefer to ban it instead of thinking about crypto money. it certainly does not make sense. the authorities are running away and it is getting harder and harder to take precautions.

Nahid Alom

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The government want to kill Bitcoin because Bitcoin is called digital currency o they can not control it. On the other hand bitcoin is illegal for Bangladesh and many other country.. its illegal and govt says its crime 😞

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