Topic: Why does the government hate bitcoin? - page 13. (Read 2858 times)
You don't want to underestimate the power of control. You see governments peg prices of their currencies and they can manipulate it at will as long as they own control over the creation of new notes and fiat. So introducing decentralization means yanking out that hold they have over their currency so that it becomes almost impossible for them to manipulate it at will. Governments will continue to fight against bitcoin and crypto until they can find a way to exercise power and control over it through regulations
does a country's government hate bitcoin? As far as I know, the situation is not as bad as you mentioned, they only keep the people from losing money if they join the world of crypto currencies including bitcoin.
this is only an attempt by the government to care about the people and the economy of their country.
this is only an attempt by the government to care about the people and the economy of their country.
For that simple fact that bitcoin is decentralized which made it impossible for the government to lay their hands on taxing every satoshi that moves inside the blockchain they will resist it and do all they can to control it but where they fail they will destroy it. Government raise their money through the citizens which money the good government will use to develop the infrastructural activities, provide health care and quality educational system that will work. But the corruption ridden government will be feeding on the money without doing anything.
The government hates Bitcoin, because it is a decentralized economic system.The government can not impose any taxes on it.Also, the government can not recognize it because it is anonymous, which is why the government thinks it sometimes turns into a black market. Probably for all these reasons,the government hates Bitcoin.
It is simple, because with the advantages of bitcoin, people will not use banks anymore. But the fact is that, the government need money from taxing in the banks. I think that is the reason why the government always want to destroy bitcoin.
I think the government hates bitcoin because it's a transparent thing that can not hold or control independence. The government always wants to control the currency to ensure its safety and dominance, and it is also tax related that these transactions have not yet been taxed. The security of information sent and received is also a reason governments fear inflation
Government want to have control over bitcoin but failed to understand that bitcoin is not design that way but I want to believe that with time government will understand the nature of bitcoin and accept it the way it is made
It's true that the government does not have control over bitcoin and makes bitcoin unable to move to overcome this, but the government will certainly be able to benefit from bitcoin. And one day the government will accept bitcoin because it cannot be banned and stopped.
Government want to have control over bitcoin but failed to understand that bitcoin is not design that way but I want to believe that with time government will understand the nature of bitcoin and accept it the way it is made
The government is just not friendly with bitcoin, not hate, I think bitcoin cannot be controlled and anonymously, so there is no tax payment for the government. This respects the government in development, even though the government can be neutral when looking at its benefits.
The corrupt government have a reason to hate Bitcoin and the reason is quite simple : Control
A lot of these governments have full control over their local Fiat currency, because they can control and manipulate it's value and they can control people.
The moment when you start using a currency that they cannot control, they find reasons to ban it. They can even stop your money from leaving the country, if they wanted to do that.
A lot of these governments have full control over their local Fiat currency, because they can control and manipulate it's value and they can control people.
The moment when you start using a currency that they cannot control, they find reasons to ban it. They can even stop your money from leaving the country, if they wanted to do that.
If you think about it maybe the intention for starting something like this was to ensure there was no financial crisis and help regulate the economy to avoid volatility. There have been several cases like the Kingfisher case. But as always greed took over and this power started to be abused. Maybe the government is not entirely corrupt but it is neither entirely pure. So some portion of the government might help bring about the change to an economy where bitcoin becomes regulated. It's a hope for a better future.
The corrupt government have a reason to hate Bitcoin and the reason is quite simple : Control
A lot of these governments have full control over their local Fiat currency, because they can control and manipulate it's value and they can control people.
The moment when you start using a currency that they cannot control, they find reasons to ban it. They can even stop your money from leaving the country, if they wanted to do that.
A lot of these governments have full control over their local Fiat currency, because they can control and manipulate it's value and they can control people.
The moment when you start using a currency that they cannot control, they find reasons to ban it. They can even stop your money from leaving the country, if they wanted to do that.
As far where I am living, I do not agree that the government hate bitcoin.
My country is cryptocurrency friendly since my country welcome its technology. As a matter of fact my country, Philippines, considered Bitcoin as mode of payment and welcome any legal development about bitcoin application. As a matter of fact, our government allow cryptocurrency trading in my country and is open for further collaboration about blockchain technology.
They can if it enters an exchange, and/or used to purchase an item legally (setup by merchants).
My country is cryptocurrency friendly since my country welcome its technology. As a matter of fact my country, Philippines, considered Bitcoin as mode of payment and welcome any legal development about bitcoin application. As a matter of fact, our government allow cryptocurrency trading in my country and is open for further collaboration about blockchain technology.
It takes more than 1 paragraph to discuss this thing bur actually it is all about tax. Government likely get a tax tp anything but in bitcoin they can't, that's it.
They can if it enters an exchange, and/or used to purchase an item legally (setup by merchants).
It takes more than 1 paragraph to discuss this thing bur actually it is all about tax. Government likely get a tax tp anything but in bitcoin they can't, that's it.
maybe the government doesn't understand bitcoin, as in my country it's still not permitted / banned on bicoin, but many have played bitcoin in my country, except in some parts the government doesn't know what bitcoin is, and I'm sure sooner or later they will know what it's bitcoin. and immediately permitted
If you will ask me why does the government hate bitcoin, as stated above maybe they do not understand bitcoin yes that is one of the reason and I think it is also because of some illegal activities using bitcoin and other cryptocurrency. As of now, I think Bitcoin is in discussion in every government meetings. Some countries who banned bitcoin is just want to avoid illegal activities that has a connection to it and to avoid their citizen to used it.
Hopefully in the future, many countries will believe and understand bitcoin as we do because even though it is decentralized still it can really help us to improved the economy of one country by using it properly.
If something is regulated wouldn't the corruption be reduced. I mean it is pathetic that a government is the one who regulates the country but if the government is corrupt then everything else fails. But if the entire country is involved and allowed to view everything which as bitcoin stands for means an open ledger then these kind of illegal activities could very well be reduced significantly.
Government hates bitcoin because when you exchange it in a real money or i mean when you withdraw it, it has a same amount. there is no tax reduced from the money. it is exactly the same amount. that why government hate it because they can't get anything from it. i guess.
Maybe that is 1 reason, but government is not really that bad if only think about money. They have some reason maybe to make bitcoin illegal, or maybe not regulated in their country. Each country maybe have reason to do that.I do agree with you. But at the same time there is a larger concern that bitcoin is not completely understood and what people don't understand they hesitate to adopt. The larger picture however is that this could help curb corruption and that means lesser money in many pockets. Just my personal opinion.
On the blockchain everything is open, you can see the income of all. Imagine how corrupt politicians will take bribes)?
Exactly. I'm sure that most politicians would do everything to ensure that doesn't happen. But at the end of the day you can only delay the inevitable.
Crypto currency technology is very interesting. The central government in some countries does not not recognize the existence of Bitcoin because they are not ready to manage it, their economy is still centered on the conventional currency of fiat currencies which they have managed for a long time. Because this digital currency technology can indeed be said to be new, it takes enough time for the government in several countries to be able to recognize the existence of Bitcoin as fully as possible.
Actually we all known that everythings that happening in one country is handled by the government and their are formed just to manage the whole country to have a better economy they are the right to handled, controls and make decisions when it comes to the things that related to our economics issues and maybe this is also the reasons why they don't agree to implement bitcoin in their countries. The government wanted to control bitcoin system which is they can't be done because bitcoin system built with a decentralized platform and nothing can control to it. We can make any transactions in anywhere and anytime we wanted without the permission of our government or any third party and this flow of system are really objectable by the government because they don't have the right to control it.
In my country bitcoin is still not permitted / banned, but many have played bitcoin in my country, but I'm sure sooner or later they will know what bitcoin is. hopefully next year bitcoin is not banned.
For sure they know what Bitcoin and other cryptocurrencies are it is just that your government might not want that certain cryptos to circulate your country for some reason and it might be a good thing for your country.
If they ban it, I think it is not just for their convenience but also for the better good of the people and the country. There are a lot of reasons why these governments banned Bitcoin, you can look at this site the countries that banned Bitcoin and also the reason they did so. Some of them is the reason of a typical government but some are things I do understand. http://innov8tiv.com.
I think is very important to understand te money is only backed by the confidence that exists towards a government, and the people dont know that. We use fiat currency because it is the only we know, and we dont have any alternative.
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