Topic: Why does the government hate bitcoin? (Read 2858 times)
I think that the only reason why the government has a negative attitude to btc is that they don't want to risk the existence of the standard currency and are afraid of significant changes
maybe they hate because this bitcoin can be obtained only by following a bounty or by other means, while the government works hard and does not freely use the time widely. maybe there they hate the use of bitcoin and also in terms of practicality.
The government or any public authority is greedy for the control and since Bitcoin or any other cryptocurrency is based on the blockchain technology which relies on the fundamental principle of decentralization. Naturally, if it is adopted on a large scale then it will destroy the control of government authorities and to avoid such circumstances, governments are looking to ban it.
I think the main reason why the government hates crypto is the fact that crypto currencies function in their own space without the approval of government. Government usually don't like things it can't regulate and control.
Another reason why the government hates crypto is the anonymous nature of crypto. They pose a threat to the security of the nation as people can fund various terrorist organizations and the government won't be able to trace those transactions.
According to government, they also pose a threat to a nations economy as the government can not tax crypto directly and people can use it as a way to hide their illegally earned black money. Crypto also decreases the dependence of people on banks which are under the direct regulation of the government. All of this factors pose a threat to the dominance of government over the nation and the people.
Another reason why the government hates crypto is the anonymous nature of crypto. They pose a threat to the security of the nation as people can fund various terrorist organizations and the government won't be able to trace those transactions.
According to government, they also pose a threat to a nations economy as the government can not tax crypto directly and people can use it as a way to hide their illegally earned black money. Crypto also decreases the dependence of people on banks which are under the direct regulation of the government. All of this factors pose a threat to the dominance of government over the nation and the people.
the government not only hate bitcoin but also scare bitcoin because bitcoin can threaten to the survival of banks and the taxation of the government.
in my opinion bitcoin decentralised peer to peer transaction system so there is no income for the government, this is the main reason government hate bitcoin.
the government has personal reasons to hate bitcoin, the most powerful issue is the government giving a statement as if bitcoin could damage the country's economy. but this has not been proven so I think that's just the government's personal decision with bitcoin.
Many governments have opposes bitcoin for it's virtual nature and it's high volatility in the market and it's stability is an issue for us to keep it with us at home or we can not sure that whether the crypto value will remain the same or not so it makes the government conscious about crypto and they against it. Crypto market is accepting world wide.
I think the government want controlled key currency. But Bitcoin is a potential threat of the establishment.
I think the feeling is not the hate, it is fear. The goverments and the bank doesn't know how to act against the cryptocurrency.. That's why they act weird like this. I belive that the goverments will find new taxing system for cryptos and all the problems would solve that time.
I see you scared to associate the idea that maybe the government is not strong enough to control that bitcoin. And as far as I can see, they can only accept and refrain from thinking of new taxes for us- BTC investors
. In my opinion the government does not hate bitcoin but the government only prohibits the use of bitcoin because the government is afraid that bitcoin will disrupt the country's economy, therefore the government does not allow the use of bitcoin. Hopefully someday the government will accept Bitcoin as a legitimate payment instrument.
That is right. The government are being concerned to what may be the effect of their citizen using Bitcoin every day in their country. It may not be true since most of the people will not be that quick to use them right?
Also, there are governments that are thinking that their people might use Bitcoin or any other cryptocurrency to commit crime. There are a lot of ways to use Bitcoin and one of them is being anonymous in the transaction. It may not be that completely anonymous but it is enough to make some connections to terrorists or make transactions to commit crime like money laundering or buying something illegal out of the dark web.
I can say that it is not that the Bitcoin is totally hate by the government, but it is rather that the government prefer to control everything and from the fact that the Bitcoin is not a controllable having the characteristics of being a decentralized then maybe that is why the reason why the government didn't want Bitcoin to run as it is to other countries.
National governments have motivation to be against bitcoin and decentralization. Computerized gold would keep governments from mystically printing cash while burrowing the obligation gap. Their activities and exchanges will likewise be straightforward on account of blockchain innovation, and they're not constantly legit. News stages will be decentralized, decipher concealed agendas..Often including terrible purposeful publicity from governments.
Government dont want bitcoin to rule the world of currency.
They have no control with bitcoin and its supply.
people will be the only one to decide for the demand and price.
Government will limit their power through currency which a big impact of their lose.
Corruption will be limited in each country of the world.
but for now, many governments are changing their views with cryptocurrency, even some countries really support, and try to develop this. besides, this makes many people learn to become a businessman, and start developing their projects. this certainly reduces unemployment, and adds entrepreneurs in the community. however, for the same reason, there are still some governments that see this with something negative. They have no control with bitcoin and its supply.
people will be the only one to decide for the demand and price.
Government will limit their power through currency which a big impact of their lose.
Corruption will be limited in each country of the world.
If you put yourself in the position of governments for a second you will get why they hate bitcoin, they have created the perfect system in which they can do whatever they want and people need to follow their orders, they created a system in which they have complete control of the money supply and the economy and now out of nowhere they need to compete with a coin that could destroy everything they have worked so hard.
Government dont want bitcoin to rule the world of currency.
They have no control with bitcoin and its supply.
people will be the only one to decide for the demand and price.
Government will limit their power through currency which a big impact of their lose.
Corruption will be limited in each country of the world.
They have no control with bitcoin and its supply.
people will be the only one to decide for the demand and price.
Government will limit their power through currency which a big impact of their lose.
Corruption will be limited in each country of the world.
There are many reasons behind this statement. There has many issues regarding this. No one can track it's transaction, it can be a valid reason. By the way,by investing in Bitcoin or other currencies, money can be reserved for a huge time.The another reason can be economic slowdown.There are many illegal works are done by using Bitcoin. I think those are the main reasons of that.
In my opinion the government does not hate bitcoin but the government only prohibits the use of bitcoin because the government is afraid that bitcoin will disrupt the country's economy, therefore the government does not allow the use of bitcoin. Hopefully someday the government will accept Bitcoin as a legitimate payment instrument.
They afraid of it because it's unknown and unpredictable.
because the government cannot control bitcoin.
it is nothing new if many governments hate bitcoin but someday I believe bitcoin will be accepted by all the governments of the world because over time they must be prepared to accept better changes.
In my opinion it is not only uncontrollable that makes the government in that country ban bitcoin, but if bitcoin is allowed in that country it will reduce banking income. Because there are many government-owned banks that can be used as a motor of development in collecting public funds. In addition, bitcoin reduces tax revenue, because the transaction is peer to peer. it is nothing new if many governments hate bitcoin but someday I believe bitcoin will be accepted by all the governments of the world because over time they must be prepared to accept better changes.
Jump to: