Topic: Why does the government hate bitcoin? - page 14. (Read 2858 times)

It is not hate, governments in general do not like it because they feel they could lose control of the economy if they allow cryptocurrencies to evolve without any supervision and in a way they are right so I understand their desire for control, but cryptocurrencies are not going to be easy to regulate at all and many people are going to resist the attempts of the governments to do it.

The fact that Bitcoin is decentralized is something that annoys the govs. But I wouldn't say they hate Bitcoin because I am pretty sure that the government has found a way to have a slight of hand on BTC and one example is setting regulations. I am pretty sure that they have found a way to make BTC beneficial for them. BTC generates huge amount of money in the crypto market. And the govs will surely not pass by the opportunity of getting some of that pool of money. I wouldn't be surprised if the government is one of the whales! So I really don't see any reason for the government to be hating BTC.

Very many titled economists have serious hostility to bitcoin. Whenever such an economist talks about bitcoin, he always finds something negative to say. Some of these experts say that cryptocurrency has no future at all, while others claim that it is pure evil. It's simple!  According to them, cryptocurrencies interfere with the work of the government to regulate the currency in order to ensure greater stability for the economy. They also clearly believe that the government should be able to decide what is legal and illegal. In other words, these economists would like the government to be able to fully regulate the economy, and they see bitcoin as a possible threat to this philosophy.   

Bitcoin purpose was not created to defeat the idea of using fiat currency but as a peer to peer transactions over the internet, but now government is afraid it might get out of hand to compete with the fiat currency which he uses to control the masses. Hence the hate of bitcoin by the government.

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.

ye, it's really simple. we all determine the value of bitcoin, trade, investment, even every transaction, then it creates volatility, and we take profit from volatility.

precisely, with decentralized, and not controlled by authority, bitcoin becomes very safe from hacking. hackers might be able to go to see each transaction block, but, they cannot to solve each block puzzle.

This time  the government is so hesitant to adopt because of the different platform bitcoin and crypto currency had, but later on time the government some governments will adopt because it will become a norms and many countries  will also adopt it.

Not all government of every  country are hated bitcoin as currency
United States of America aren't hate bitcoin as new decentralized currency
But united state want bitcoin become centralized as regulated currency for the safety of the hodler's economy
Supposedly bitcoin is a new gold came from the new technology

Exactly, transparency and taxation can be a big thing to be consider for a politicians and they really hate this one because of that. Government keep on discouraging people to invest in cryptocurrency because they said, its too risky to put money in cryptomarket but in reality they are preventing people from realising how good this market is.

Later on, government will be no more choices but to adapt this technology and this will happen around the world. Cryptocurrency will still become a big factor in a world financial system.

Yes government think that it is used for eligal transactions. And also they can't get taxes in bitcoin, thats's why they hate bitcoin.

Governments do understand Bitcoin, which is exactly why they are so afraid of it. I don't think we should wait for the government to reconsider its stance on Bitcoin, but start doing things on our own.

Bitcoin allows basically anyone to use it without asking for permission, and here we are still waiting for daddy government to approve something we definitely don't need their approval for. We really have that power now.

Another thing is that governments will tokenize their fiat currencies, so what do they need Bitcoin for? Their tokenized fiat has nearly all the benefits of Bitcoin, plus it's completely controlled by them.

There are many reasons are present due to that most of the countries government does allow permission on bitcoin legislation or they use to hate bitcoin. They think terrorist use it for weapons buying or people use it for money laundering or many illegal activities has become possible due to use of bitcoin.

Yes one the reasons government hate bitcoin is due to the fact that government can not control bitcoin and again since bitcoin is decentralized it very hard or impossible for the government to control or get involved in it activities, the government since it in total control of the fait paper money will never support bitcoin because bitcoin offer it users the total freedom over the financial transactions which do away with any third party involvement.

Because the government is afraid of everything new, they do not understand its power and what independence from world currencies can lead to. But not all governments are afraid some are happy to meet him and understand that his future !

i  think   government   hate   bitcoin  because  they  think  that  they  are  going  to   be  decentralized  and  they  are  not  going  to  be  progressed  anymore.

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.

Because Bitcoin grows freely and there is no law that can control it while popular use is risky for the economy of government is managing.

Different government different issues and agenda with bitcoin and because of this they ban it in their country. Some government doesn't want some outside currency in their country in which they have no control. And Because of decentralised nature bitcoin is out of the regulations of  government. And this is one of the main reasons behind this. Another reason is tax. Because of its digital in nature its user does not pay tax to their government and this thing ultimately affects the country economy in a negative way and because of this also many government ban it in their country.

because they are afraid. if people prefer to choose to invest and transactions using bitcoin bro. than investing in a Bank. and transact using paper currency ..

I think that the main reason why governments hate Bitcoin so much, it's because Bitcoin poses a threat to their traditional economic system. Compared with Fiat, 1 Bitcoin is much more valuable than 1 Dollar, 1 Euro, 1 Yen, and so on. It's the world's most valuable currency to date, and a decentralized system for anyone to use at will. Given the benefits blockchain technology provides, it's no wonder why governments and banks have working together to destroy Bitcoin at all costs.

Their main excuse is that Bitcoin provides an open road for money launderers to conduct their illegal activities. However, that's not usually the case, since criminals prefer to use more Fiat than Bitcoin to do money laundering because Fiat is Fungible. With Bitcoin, every transaction can be easily tracked and audited via the blockchain, which makes the authorities’ work much easier. However, despite this reality, most governments want to simply ban Bitcoin usage within their region. On the other hand, there are other governments which have reacted in a friendly manner to Bitcoin and other cryptocurrencies. The US Government is one of them, which has recognized Bitcoin as a legitimate cryptocurrency for day-to-day transactions.

In some US states, it's already accepted as a currency that you could use to pay your taxes, which means that the US see Bitcoin more as a benefit to them than a real threat. Therefore, the reasons why governments hate Bitcoin are obvious, since Bitcoin is an alternative currency free from middleman. Unless, Bitcoin becomes extremely popular and adopted in the mainstream world, there will still exist governments that are against the original cryptocurrency.