Topic: Why does the government hate bitcoin? - page 10. (Read 2858 times)

I think the reason is, bitcoin is difficult to control and it's very difficult to apply taxes in every bitcoin transaction. The government also considers bitcoin as a threat to fiat, and therefore the government hates bitcoin.

I am also feeling same. I think today or tomorrow government must be accept cryptocurrency. Already some countries have accepted it.

Even if it money is gold backed or silver backed it doesn't matter anyway. Even if it is not backed by the two and just backed by banks it still doesn't matter as much. The reason why the Government would like to control the value of money is for economic stability. The government just cannot lie about what they hold and say that they have lots of money in their position and that they could back up the any amount of fiat currency. Printing a lot of paper money backed by nothilot of US Dollar, wants to buy something from the US like medicine, food, etc and use it to buy their products, could they gain from it? I certainly think not! So what I am trying to emphasize now is that the creation of paper money is controlled and it does not go out of US without something backing it and without consideration of their economic status. Otherwise there resources will be gone with paper money or fiat currency back on their position without having to receive any better benefit from it. Bitcoin is almost similar to the fiat currency you have describe. It is a useless piece of code not unless their is a real usage for it. And what is backing it is fiat currency. So if we say it will replace for example the US dollar is quite impossible for now because as I have said their is so much to control about fiat currency for economic stability that is why governments are tracking bitcoin trading. It is not because they hate it but because it is need for stability. It does not and will not make a country rich. It only makes them unstable. Stability over the prices of dollar for example, is very crucial to the economic status of the United States. Be it not backed by gold or not, it is always a concern by their government to hold or limit the transfer of money going in or out. Should they print more money in paper, how will they sustain transactions with other countries doing exchanges with their money?

The government will hate this bitcoin technology because cryptocurrency is decentralized and circulate in the digital world ,independently , and government have no power over it , even if it is used in the country , tbe government can not demand taxes on cryptos for they do not have hold of it , that is why government does not like bitcoin for it .

Yes it is true that the governments of some countries hate Bitcoin but not all countries. Most of the countries are currently using bitcoin in different ways. There are some reasons for the countries which are prohibiting Bitcoin. Bitcoin is used in some criminal activities. And this transaction can not be identified. So using Bitcoin, the country's money is more likely to be trafficked in another country. For some of these reasons, some countries have banned Bitcoin.

Because they cant squeeze any taxes on their incomes which is made through Bitcoin and also mainly cause people do illegal stuffs through bitcoin

For what I believe, there are many loopholes to what you have mentioned. First of all, United States is a country that do not hate bitcoin, it rather supports it because they know what bitcoin can do to a country's economy. For me, bitcoin is not something a government will be feared. They can actually cooperate with it like what other countries are actually doing. The last part that you have me I there are many ways for someone not for his cryptocurrencies to he started. Banks also should not feared digital coins as like what I have said that they can actually coexist .

Government hate bitcoin mainly because its decentralize and they can not control it.but i really believe that bitcoin it will cross over the world every country.it will no longer be hated.

Also the most important point is tax evasion as we aren't able to identify the transactions and who is sending or receiving the money and also the risk of money laundering is pretty high as the transactions are pseudo anonymous. So the governments hate bitcoin because of this reason and that's why they hate bitcoin and are ready to do anything to stop it.

the government seems unable to sympathize with bitcoin, only a few countries have given a positive signal to bitcoin. At present the government in some countries is still silent and tends not to sympathize with bitcoin because they are worried that bitcoin will damage money in the country. so I think that is the main factor the government has not been able to sympathize with bitcoin and still hates to this day.

I oppose. I believe governments know what cryptocurrency is particularly the bitcoin because in that institutions there are economist, IT professionals, consultants, and so on that might be aware to its existence. They just not infavor to it maybe because they don't have faith in it. Also, it can be use as a tool to scam others and the transaction hereis so easy and you can go unknown (as what most people here say).

The government does not like bitcoin probably because the reason bitcoin cannot be controlled so they are afraid that bitcoin will disrupt their country's economy in the future, therefore they choose to ban using bitcoin so there is no unwanted risk.

I think the government just does not like it, not because it is a bit of a business investment that is not government-run and they are afraid of investing for their people.

I don't have exact reason why government hate bitcoin. I think the term hate is  not the right term to use. Maybe there are part that government dont like. Its up to us what to know about it.

Governments do not like bitcoin because it is a democratic and decentralized source of investment and that they cannot control

Bitcoin decentralised nature is one of the biggest reasons behind this topic.

Many government doesn't wants something in their country in which they have no control.

According to some countries bitcoin affects their country economy by its volatile nature.

And also affects the country economy by affect their bank profits and national currency.

Bitcoin user does not pay tax and this thing also affects an country economy.

Yes i also think that government are afraid from bitcoin and they doesn't want to accept this currency but actually bitcoin is a most beneficial currency for everyone and that's why government should improve this currency for their citizen because everyone wants some extra income in their life and that's why bitcoin can make everything possible. 

I don't think that the government really hates crypto but the relationships are not easy. I think that it is better to invest in btc now until the price rises because soon it will become higher

Yes this topic has been discussed many times and terrorist funding and fraud investment are just a lame excuse which is given by government as there were terrorist attack before the emergence of bitcoin and the real l\reason why they hate bitcoin is because they cannot control the money and they will lose the money which is under their control.

because they haven't learned Bitcoin and it's still a new technology, they cannot have control of Bitcoin and they are very afraid money laundering, terrorist funding or fraud investments growing rapidly if Bitcoin remains. I think this has been discussed several times