Why does the government hate bitcoin? - page 6.

BIPBot

jr. member

Activity: 43

Merit: 8

Quote from: Elqui on November 06, 2018, 06:34:58 AM

In my opinion why government dont like bitcoin because it has no tax. Government will like it if they can add tax to it every transaction. Specially on third world countries.

Not entirely. I mean tax can always be imposed on the transactions that take place.

Rooster101

sr. member

Activity: 826

Merit: 256

Not all governments hates bitcoin, Japan is one example, they legalized bitcoin instead of banning it. Other countries are not yet prepared to allow bitcoin to become of their optional currencies because of its decentralized nature. They might need more time to study it first like what will be the impact on their economies if they freely allow their people to use bitcoin and other cryptocurrencies in their transactions.

BennyK

member

Activity: 672

Merit: 14

Governments and politicians seek for one thing, power. They seek to gain power in all sectors including the finance of the people. Due to the decentralized nature of Blockchain, users of cryptocurrency are the owners or controllers of their own finances and related transactions. It takes that power from the governments and gives it back to the people. This is why the governments hate Bitcoin and are doing anything within their power to collapse its patronage.

gesdan

full member

Activity: 616

Merit: 100

the big reason is because bitcoin is not decentralized and bitcoin don't have the center, its mean that it works without any center that manage it, and i think it makes government can't join to handle bitcoin in real life

rodel caling

full member

Activity: 952

Merit: 104

The government hates bitcoin because they can't collect taxes from the new decentralized virtual cryptocurrency includes bitcoinas main digital currency.

In other some country are adopting bitcoin because they want to help their economic to grow because some government officials they understand the potential of virtual cryptocurrency as new temder money in the future.

IndigoRed

jr. member

Activity: 196

Merit: 1

Quote from: Jackblack90909 on November 06, 2018, 01:19:02 PM

Governments hate Bitcoin and cryptocurrencies, because they can't control them, since these currencies are decentralized, and anonymous. The governments want to support only their fiat currencies, and controlling the financial transactions of their citizens, which isn't possible with crypto.

They can’t hate something that could potentially benefit them too, right? They’re just doing their jobs and studying something that if not properly regulated, could promote crime and other problems. Shouldn’t we be satisfied that they’re not slacking on their jobs? Give them time and hopefully, they’ll embrace it soon.

andylioe78

member

Activity: 267

Merit: 10

The government is not ready to take responsibility for what happens to the cryptocurrency market. they are less aware of the potential of bitcoin that can be given to the world. The government is also afraid of being threatened by things that can be done by bitcoin.

andrei56

sr. member

Activity: 840

Merit: 254

Quote from: feather7789 on November 06, 2018, 02:13:23 AM

i think the only reason is decentralization, it is a peer to peer transaction system and there is no profit to government from bitcoin so they are not accepting btc.

Right now the money moving in cryptocurrencies is very small compared to the rest of the economy of the world, so it seems unlikely to me that governments are mad about it, what they are seeing is the potential for bitcoin to take over a great deal of the economy which means they will be unable to exert as much control over the population as they can do now and they do not like it.

Jackblack90909

sr. member

Activity: 552

Merit: 250

Governments hate Bitcoin and cryptocurrencies, because they can't control them, since these currencies are decentralized, and anonymous. The governments want to support only their fiat currencies, and controlling the financial transactions of their citizens, which isn't possible with crypto.

bitman

jr. member

Activity: 44

Merit: 1

Because cryptocurrency is the key to the freedom of millions of people. If people can use cryptocurrency on their own in real life - banks will be left without work!

AAKODI

jr. member

Activity: 205

Merit: 1

Quote from: memecoin on November 05, 2018, 09:21:42 AM

I do not think that the government hates or prohibits the bitcoin, just because of bitcoin's non-governmental controls should make those governments feel a sense of disagreement with the bitcoin's actions. Cry

Agree with you many don't hate because majority of governments haven't taken decisions against bitcoin or its existence at the moment because still bitcoin haven't done anything bad to there financial structure but most government organizations are in alert about bitcoin due to many false news from media sources regarding bitcoins darker side and the negative effects it can do to traditional economical systems

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: 378budiman on October 24, 2018, 08:46:11 AM

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

Government fully understands bitcoin and blockchain because nothing can hide from them.,what made them hate this cryptocurrency is the simple reason,the anonymity and the decentralization,this will bring end to their corruption works and for sure this will end all the bad businesses of every politician

kzozenberg

jr. member

Activity: 140

Merit: 1

Not all governments in the world are bad about bitcoin. But those who are negative do not want to develop in the field of cryptographic protection or innovation in the economy ! My opinion.

nicko122

jr. member

Activity: 462

Merit: 1

Quote from: ?? on ??

Quote from: Ladysmith on October 24, 2018, 07:24:08 AM

Federal governments have reason to be against bitcoin and decentralization. Digital gold would prevent governments from magically printing money while digging the debt hole. Their actions and transactions will also be transparent thanks to blockchain technology, and they're not always honest. News platforms will be decentralized, decode hidden agendas..Often involving bad propaganda from governments.

What makes you think that a digital gold would prevent a fiat? There's nothing that shows that even a massively used crypto would stop a fiat from being widely used or even still mainly used.

I think that the use of paper money will not stop even if cryptocurrencies will be more popular than them. Physical money exists for hundreds and thousands of years, and for a reason people don’t refuse it. If you like virtual currencies, this does not necessarily mean that you should not like ordinary money. And vice versa Wink

RockHenki

member

Activity: 238

Merit: 10

Why does the government hate bitcoins? Bitcoin is a virtual currency that has not been properly authenticated. Bitcoin is also a trading currency for criminals so it is a threat to the government that makes the government do not like it. . So, in the near future, we need to rebuild the trust of the government with safe and legal trading, which in turn will make the government more secure and more stable.

Kesari

newbie

Activity: 56

Merit: 0

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.

P.Mahin

newbie

Activity: 84

Merit: 0

Government hate bitcoin because Government always thinking negative.Bitcoin is best crypto currency from world wide.Most country use this coin.Day by day this coin user increase. I think so next 2 year bitcoin uses all country people.Bitcoin uses people success some times.Government cannot control this currency. Government cannot knoladge for bitcoin.So I there for government hate bitcoin became government doesn't control this coin.

Chrystora123

full member

Activity: 1414

Merit: 228

Omicron is another FUD

Bitcoin is not hated by the government, they are just worried that Bitcoin will be used for crime because we know that the price of Bitcoin is very high and corruptors can easily do money laundering by buying Bitcoin... I hope the government finds the best way, because Bitcoin is very good and the Blockchain technology can be very useful for the future of the world.

rudox

full member

Activity: 476

Merit: 100

When government is not in control of any institution they will destroy it. Bitcoin concept was hinged on decentralization which means that it is not controlled by any person or body but only by market sentiments. The government need tax for any transaction that passes through the banks but unfortunately bitcoin's transactions are P2P and there is no third party involved. The government and her agents are not comfortable with bitcoin knowing that when every transactions are through bitcoin then they will be poor(government and her agents)

Robotbitcoin22

sr. member

Activity: 854

Merit: 250

Quote from: Elqui on November 06, 2018, 06:34:58 AM

In my opinion why government dont like bitcoin because it has no tax. Government will like it if they can add tax to it every transaction. Specially on third world countries.

For actual taxes it can be applied. if someone will make a withdrawal on the exchange. of course there will be a diasana fee that will be applied. with this, the government can actually apply taxes

Topic: Why does the government hate bitcoin? - page 6. (Read 2858 times)