Topic: Why did the government want to kill Bitcoin? - page 25. (Read 2301 times)
I think why the government want to kill bitcoin they want to control the bitcoin just like fiat currency, but bitcoin is the threat of the government because most of the business transaction will be made into bitcoin and the government they cannot get any taxes from bitcoin.
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
Just because it's a digital currency, doesn't mean the government cannot control it. The balance in your credit card, debit card, or bank balance, they are all digital currency yet they are controlled by the government. Same as the funds that you have in your Paypal account. Your funds are held by a third-party company (Paypal) and at the end of the day, the government will still be able to control it. I think what you should have said is that bitcoin is a digital currency which is decentralized that's why they cannot control it. It has no central network and it is definitely owned by noone except the people that own the bitcoin (money) themselves.
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.
Many different ways to stop of any kinds of crimes and any other related violence like that, I think this is not the reason why government doesn't approved the good intention of bitcoin. the progressive Economy and continually growing up is the hindrance to recognized bitcoin I think they will not do embraced of bitcoin because they felt this is making confusing to people and to progressive economic stability.
This can be because of different reasons but the main reason is that they think that crypto can make their currency weaker. Also, there can be legal issues.
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
I think that the government does not think Bitcoin killing, but thinks about regulation, so as not to miss possible incomes.
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
I dont believe that government want to kill bitcoin, the term "kill" means to put an end/disappear. Yeah government want to ban BITCOIN due to lack of information on how to regulate/control this kind of cryptocurrency. But in the future BITCOIN will be accepted as one of the trusted digital currency that will help the government in running their economy..
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.
Not so bitcoin can help us in transferring money it's all about people what they do in bitcoin it's a matter choice. We have free whether we do good or bad they banning bitcoins because bank wants to earn money because bitcoin surpass banks and many people using bitcoin rather than investing in banks. but this is just my opinion, so if I am wrong I apologize.
Thank You.
It's true that every government wants to provide a secure monetary system for their citizen. I think most of the government doesn't consider as a safe platform for the transaction. They really think that cryptocurrency is mainly used for the underworld and money laundering event. so that it's is called a risky way for the monetary system.
Because Crypto market need bitcoin for money laundering and criminal activity, The government want to kill bitcoin in order that there is no criminal all over the world.
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
That's right, the reason of the government wants to kill bitcoin is because they can't control it, they can't earn from it and also the possibility of using it in illegal transactions. Just like for example is drug trading, illegal traders can possibly use crypto for paying for it and it will be alarming for the government it will be like they are tolerating it and they don't want it to happen. the responsibility of the government is to protect it's people. 
yes you are right until right now government think that bitcoin is only used for criminals, the government don't know about ICO project that happen in the cryptocurrencies world, for develop the great idea idea and makes the world is better than before. With that idea there are many changes that will change the world
Do people still ask such questions?
Well, it's quite obvious. The government does not benefit from this because bitcoin directly threatens the modern financial system. Banks will simply cease to exist. In the case of using crypto-currencies (any decentralized, not necessarily bitcoin), the whole sense of money disappears in banks, hence the world financial system changes. And to people now in power (capitalists) this sort of arrangement of things is generally not profitable.
Is it not obvious?)
Yeah, I think everything is clear that the government is threatened by the existence of crypto, the bank system that is already under the government might be less popular because of the decentralization system, from that system, the government might get a lot of losses becaus of bitcoin Well, it's quite obvious. The government does not benefit from this because bitcoin directly threatens the modern financial system. Banks will simply cease to exist. In the case of using crypto-currencies (any decentralized, not necessarily bitcoin), the whole sense of money disappears in banks, hence the world financial system changes. And to people now in power (capitalists) this sort of arrangement of things is generally not profitable.
Is it not obvious?)
authorities want to govern the entirety banks , courts and our virtual privateness , in different word government like the whole thing to be centralized and dominated, as you recognize bitcoin fee gadget is decentralized peer to see transaction . That major reason governments all over the global will non-stop the fight as much as the stop .
The US Government wants to kill Bitcoin because the US Dollar is the global reserve currency. This effectively means that the Federal Reserve can simply print new dollars for whatever reason, and the rest of the world will grunt, sigh, look on resignedly, and then everyone moves on.
If Bitcoin becomes the reserve currency, the USA loses this power, and simultaneously it's position as the leader of the world. The wonder isn't that the USA has made anti-Bitcoin or anti-Cryptocurrency noises, it's that it hasn't clamped down hard on Bitcoin and other Cryptocurrency as yet.
I won't be surprised if a future US Government driven to the edge decides to tax the possession and mining of Bitcoin, perhaps of all Cryptocurrency, maybe even with retrospective effect; and then forces the other countries to levy tax accordingly. What will you do with your Bitcoin and Cryptocurrency hodlings in that scenario?!
If Bitcoin becomes the reserve currency, the USA loses this power, and simultaneously it's position as the leader of the world. The wonder isn't that the USA has made anti-Bitcoin or anti-Cryptocurrency noises, it's that it hasn't clamped down hard on Bitcoin and other Cryptocurrency as yet.
I won't be surprised if a future US Government driven to the edge decides to tax the possession and mining of Bitcoin, perhaps of all Cryptocurrency, maybe even with retrospective effect; and then forces the other countries to levy tax accordingly. What will you do with your Bitcoin and Cryptocurrency hodlings in that scenario?!
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.
In addition, the Bitcoin platform may use in scam investments and may steal the hard earned money of their people. All of these are indeed very true that it might ruin the country and its citizens but there is regulation and policies that could be created in order for Bitcoin to not to be use in these illegal activities. Some of these government only see the negative aspects of Bitcoin in which they are too blind to see the benefits and the positive side of it if they will just support this investment.
Some amount of regulation will help crypto become more stable and more trustworthy. In other words, it will seem more legit. One of the fundamental things a strong economy needs is honest, reliable, immutable ownership tracking. And only a virtual currency can provide this. And of course, this could only happen with everyone’s support, including the government's.
Sorry but kill is not the appropriate term to describe what they do. The government are just trying to descredit and that is the furthest they can do. Bitcoin is unkillable and I know that the governments know to theirselves that it is the next step for the new modern generation.
Government wanted to ban or regulate bitcoin and other crypto to protect the public with their finances because there are news or incidence that people become victims of cryptos which are not legit that resulted to financial loss. Other reason is that transactions on crypto are pseudo-anonymous, they are afraid that it might be used for illegal transactions such as the purchase of drugs or illegal weapons. And lastly is that the issue on tax collection. Until now crypto is still not classified whether its an asset or a currency, so imposing a tax on it is still a big question.
Jump to: