Topic: Why did the government want to kill Bitcoin? - page 24. (Read 2301 times)
That's because they can't fully control the bitcoin economy specially the tax for the transactions, government are concern for the future loss of their so called economy but the truth is. they will only get few percentage when Bitcoin are known to the world.
This is the big problems of the government how to stopped and kill bitcoin .Bitcoin mostly are joined in this tranctions must be related to know in hacking or scammers .The terrorist will do there own strategy because of bitcoin .
Of course government would want to prefer controlling a currency in order to run the authorization and regulations of a country. But Bitcoin is giving reason to people that, government should not invade in your personal choices of spending or tax you upon your own hard earned money. Now this is where the government is trying to play a trick into devouring people to believe sometimes else. We all know the real reason behind their persistent effort in putting a control on the usage of digital currency.
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.
but this is just my opinion, so if I am wrong I apologize.
Thank You.
I think it is not purely for the reasons mentioned, because just like the dollar, Bitcoin can be used for various purposes, some of which may be considered legal or illegal depending on the laws of a country. Related to that, Bitcoin is no different from other devices or resources that can follow the regulations that are in every country.
I have a different opinion in this. Illegal activities exists since the very beginning of the world. With or without bitcoin it will happen for sure. Bitcoin is one of the most promising currencies. It has lots of advantages so why not accept it.
because blockchain is transparent. and many governments do not want transparency, for example in intelligence and military
The truth is that many big governments don’t like Bitcoin because it threatens their monopoly over printing money. As a result, the government always want to kill bitcoin
I don't think the government want to kill Bitcoin but they want to control it, monetary is the power of a country, and because of the strong growth of this token, it might affect to their power and being a threat, and they cannot control something decentralization like crypto coin, so they set all the rule to limit the right to do it.
Bitcoins and other cryptocurrencies are decentralized so there is no central organization that is aware of all the transactions happening on its ledger. This makes it especially challenging for regulators to control.
Maybe those governments are right in some points. But still they shouldn’t ignore or kill a big opportunity like this. I think Sooner or later they are gonna feel guilty for it.
Yes, just in some points but still they have no power to kill bitcoin because they have no access about it's server and they cant identify who Satoshi Nakamoto is. Governments who banned bitcoin in their countries are not good for bitcoin but society can bypass the law. They can access bitcoin sites through the use of Virtual Private Network and They will access the sites with different IP address.
Maybe those governments are right in some points. But still they shouldn’t ignore or kill a big opportunity like this. I think Sooner or later they are gonna feel guilty for it.
The government wants to kill Bitcoin because they cannot control it also they are not getting tax from Bitcoins that is why they want to kill Bitcoins.
Secondly, They cannot kill Bitcoin because it is not like fiat its digital currency and it is not controlled by anyone.
Secondly, They cannot kill Bitcoin because it is not like fiat its digital currency and it is not controlled by anyone.
Whether due to fear, ignorance or protectionism, governments tend to legislate against perceived threats. The first prerogative of all governments is to govern, and any disruptive technology that erodes its power is susceptible to the offensive of the state.
Wherever there are wicked and selfish governmental policies, there will always want to kill Bitcoin in such government. Because they will want it for themselves alone and bitcoin is for all to get.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
maybe the governments are afraid if bitcoin is only used for illegal things like money laundering which already they've seen in everywhere. they don't want to see bitcoin become like this but I don't think that the government wants to kill bitcoin because I am sure that the government can get the benefits from bitcoin like their people too. they just cannot control bitcoin/cryptocurrency like they control fiat or other digital money but they can kill bitcoin by close the internet connection which is in everywhere but I don't think that they want to do this because internet connection right now it grows too fast.
If cryptocurrencies especially bitcoin were as risky as those governments thinks, the currencies wouldn’t widely accepted. This is a revolution which comes with lots of good opportunities. Everyone should give it a try.
They are many reasons why government believe Bitcoin is scam or illegal, some are terrorist, money laundering, drug dealing and tax evasion, government don't joke with tax and terrorist activities, which is very key area even drug dealing, just to lead a good citizen by preventing them from all those act, and Bitcoin anonymous can make those act possible with no trace of who and where the finance is coming from ,but if they can put in place some measure to curb those act will be fine but should not tag Bitcoin as scam will be a better option.
Government want to have a major influence in the regulations and control of cryptocurrency, hence the best strategy is to create laws that will term Bitcoin as an Illegal currency in order to scare investors, but sure Bitcoin cannot be killed, I forsee a revolution in the space where governmen twill be force to embrace the technolgy base on it value to the economy and a major answer to the cashless policy advocacy
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 have voiced one of the possible reasons. It is undoubtedly very important.but this is just my opinion, so if I am wrong I apologize.
Thank You.
But there is another reason. Cryptocurrencies are decentralized Finance. Accordingly,they are not monitored by the state. Accordingly, the state does not receive taxes.
this is my only thoughts or opinion about why government wsnts to ban bitcoin. Bitcoin is known as digital currency because of that government cannot be trace or track the transaction inside the system and can't control the money flow inside. Some of the transactions here are illegal like purchasing weapon, drug trafficking, extortion, fraud, scam, hackers, and money laundering. It will be a big threat to our country and citizens security. But I hope one day government will seee the brigther side of bitcoin and see how they can contribute in our global economy.
Your right and one more thing just only my opinion too.They are want to ban bitcoin not only because they can't trace the transaction on it or to be the country secure but also they are not collecting the taxes that govenment need like on the bank they collecting taxes in every transaction we've made.We can't deny that most of the politicians want our taxes and corrupting it for they want or for they self to be more rich.That's why some other country doesn't have a progress in economy because of this attitude.
Jump to: