Topic: Why did the government want to kill Bitcoin? - page 20. (Read 2301 times)

Actually they do want improvement in their country. They want improvements, but not too much improvements that people are going to be so well-informed that they know what's going on or have facilities that allows people to have such good lifestyle that they can actually think straight or be able to think with no mind-fog going on. In other words, they want improvements but only enough to say that the current administration has done something good to the citizens so we can have some positive thing going on in exchange of all the things that they have ruined just to make themselves richer.

The government clearly cannot kill bitcoin. The only thing that they can do is prolong the mass adoption going on. For example, I live in a country where the Internet connection is really slow and most places don't even have a signal reception. This way, people aren't getting that much information as opposed to people from the first world country who has easy access to fast Internet. They can easily watch Youtube videos and become well-informed of things. They are smarter than us because of this thing and their lives are a lot easier too. Thus, they are more aware of what's going on in the world and they are more involved. With people being not computer literate, bitcoin's mass adoption will take so much time to take over.

Several governments are doing all they could to ensure that bitcoins and cryptocurrencies die. Such reasons include inability to control cryptocurrencies operations, reduction in taxes, market volatilities, the need to protect citizens funds, among others.

Most of the measures taken by governments to block the activities of cryptocurrencies are ill-conceived and malicious rather than in public interests. Most governments do not want cryptocurrencies to thrive because of the perceived benefits to their citizens.

I think so. Bitcoin is used for terrorist financing, money laundering, illegal buys, crime and tax evasion. But bitcoin also gives us a lot of benefits.

Governments want to kill bitcoin because it will be going to replace their centralised authority on money is going to transferred to the people. This is what central banks don't like and not ready to accept. But once people start using bitcoin for normal day to day to transactions then there is no choice left with central banks other than accepting Bitcoin as currency.

I fully agree with your opinion, however, the number of countries and governments that prohibit Bitcoin is just a few, the government is still able to track but is not absolute and depending on the laws of that country. any.

As my ipinion about this current issue's administration needs to slaughter bitcoin, It's since they don't need change in their nation's and most them are know as most degenerate country's. In reality wrongdoings, terrosist and illegal tax avoidance are as of now exist with the utilization of fiat cash so they are incorrect to reprimand the negative impacts of bitcoin, in light of the fact that for me its rely on the client's their identity.

As my ipinion about this issue's government wants to kill bitcoin, It's because they don't want improvement in their country's and most them are know as most corrupt country's. Actually crimes, terrosist and money laundering are already exist with the use of fiat money so they are wrong to criticize the negative effects of bitcoin, because for me its depend upon the user's who they are.

The many explanations-excuses are used to hide the fear of losing the power to deny financial freedom.

Because government doesn't know what is bitcoin's nature and how can it help them to develop and earn money. They just know that bitcoin threat fiat currency and It affect to their benefits. therefore, they want to kill bitcoin

Bitcoin de-centered currency and transactions are not supervised and managed by the government. This challenges the government's issuance of monetary rights, threatens the financial market, and hurts the government's foreign exchange controls.
The transaction cost of Bitcoin is low, which challenges the existing banking system.

Because they wanted to regulate it so they can generate revenue from it , but it is decentralized and it is digital currency unlike Fiat they have control over

That's the correct way, but in my opinion, the government wants to ban the bitcoin because the bitcoin is out of control and they can not profit from electronic money like taxes.

We are all aware how government manage to kill the bitcoin. This could probably be meant by the holding of bitcoin in the government. As soon as this will happen, the holding could be an hindrance for some who own alot bitcoin. More of, they tend to take this as a tax for somehing or maybe we do not know where to go.

Yes, those are the reason why government wants to ban and kill bitcoin. It is because of the illegal activities and transactions that is happening with the use bitcoin. We all know that bitcoin is decentralized and tracing and tracking people using bitcoin is very hard to do. Also governments wants to get taxes that can be help to every country that are using bitcoin

You're I also thinks that they want to ban bitcoin is because it can be a payment system and can use to do illegal activities, in  my opinion they ban bitcoin because they do not have access in bitcoin and they are not the one who holds it and also because they think bitcoin is a scam and can be a threat to the money that their people invest in it.

I also consider the same thing. It will always be unacceptable for some within the government as they were aware on what is happening but its logically not the fault of creating bitcoin itself but the aftermaths of people over greediness. So for them, the goodness of bitcoin why it was created were totally diminished.

In my opinion, perhaps the government is frightened by bitcoin, will damage the currency in every country, and will disrupt the existing government policies.

Yeah, your reasons are right. In my opinion, the key reason for which a ban law from government is introduced is the uncontrollable feature of Bitcoin. Provided Bitcoin were controllable like bank, illegal activities as you listed wouldn't happen as easily as they are now. Governments always want something that is manageable but Bitcoin isn't any thing like that.

What you mentioned are right but I want to add some reasons. Governments fear that the high volatility of Bitcoin can result in high risks for financial market. Due to its sudden increase last year, they considered Bitcoin as a bubble.Therefore they discourage investors from putting money into Bitcoin.

I don't think government want to kill Bitcoin. They just ban it from their country. That doesn't mean they are trying to kill it though their moves did have badly impact on Bitcoin.
Terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion are really a motivation for a ban as you said. All of those are illegal activities and governments are supposed to prevent.