Topic: Why Goverment is not recommending to use digital currency such a bitcoin? - page 14. (Read 2242 times)
October 13, 2017, 11:47:40 PM
Because its not regulated by them and its difficult to regulate because of the nature of bitcoin transactions.
October 13, 2017, 11:37:52 PM
I think, its because of the decentralization, that the government has no control of it. Also, the possibilities that it will be use to crimes, where the government officials will not be able to trace things and/or information needed to solve the case. I heard that bitcoin is being use to crime, buying drugs or other illegal things, I was so disappointed. If this will be the case, if I'm in the government too, I will definitely not recommend the use of bitcoin.
October 13, 2017, 11:32:37 PM
It's because the government officially supports the central bank where they gain interest and partially may income from it. Also why I think why the government wouldn't support this is because they don't have control over it, they don't have the means of force to tax and gain something from. Besides why would you support something you can't gain on.
October 13, 2017, 11:30:54 PM
Because the government can't fuck with you some % of any transaction made in bitcoin.And they certainly don't like the fact that this currency can be used as any other currency,but we can't track her,and it is very sad.
October 13, 2017, 11:28:34 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country moneytary institution. What do you think is the reason why some goverment are discouraging its citizen to use digital currency? Any thoughts.....
Digital such a Bitcoin can not be controlled by the government because they are afraid of prices that often fluctuate. Also Government safraid that this currency is lacks of regulation. So that can be used negative things. October 13, 2017, 11:23:40 PM
The digital currency shows privacy even the government cannot control this main reason why they don't want to adopt the use of bitcoin they are afraid that this can be use in illegal activities which they cannot prevent or detect.
October 13, 2017, 10:55:38 PM
if you read a proper article written by a decent journalist not an idiot or if you read the official warning that the bank/government released about cryptocurrencies, i am sure you will get your answer.
the reason is pretty simple and it is the same reason why "I" warn others about digital currencies such as bitcoin. it is things like
- the highly volatile nature of bitcoin. the fact that price of it can swing up and down a lot and if you invest you may lose or gain a lot of money in a short time. that is considered a big risk.
- the fact that it is a new technology, you need to learn it properly to use it correctly. not using it right can lead to losses. for example holding 1000BTC in your online computer with an unencrypted wallet your desktop!
- the fact that there are a lot of scammers out there that are using the bitcoin's no charge back to rip you off.
- don't get me started on altcoins, how shitty they are, how majority are pump and dumps (which is illegal by the way). and how there is a lot of market manipulation (which is illegal again).
the reason is pretty simple and it is the same reason why "I" warn others about digital currencies such as bitcoin. it is things like
- the highly volatile nature of bitcoin. the fact that price of it can swing up and down a lot and if you invest you may lose or gain a lot of money in a short time. that is considered a big risk.
- the fact that it is a new technology, you need to learn it properly to use it correctly. not using it right can lead to losses. for example holding 1000BTC in your online computer with an unencrypted wallet your desktop!
- the fact that there are a lot of scammers out there that are using the bitcoin's no charge back to rip you off.
- don't get me started on altcoins, how shitty they are, how majority are pump and dumps (which is illegal by the way). and how there is a lot of market manipulation (which is illegal again).
October 13, 2017, 10:54:56 PM
Well the main reason that government is not recommending to use digital currency is that digital currency is non traceable so government will lose control over black money.
October 13, 2017, 10:45:17 PM
that's the reason the government can not control like in the conventional currency they spend.
October 13, 2017, 10:44:56 PM
It is obvious if Bitcoin is used widely, how can the government control it because of its decentralize.besides,if a new currrwas accepted,it must cause a new currency reform entirely,which may damage many people's benifit.
October 13, 2017, 10:39:00 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country moneytary institution. What do you think is the reason why some goverment are discouraging its citizen to use digital currency? Any thoughts.....
Because bitcoin is decentralized they can't controlled it. Another thing government can't impose taxes for bitcoin users. Not like on local fiat when you deposit on bank and have interest, government can impose tax on it.
October 13, 2017, 10:24:17 PM
They don't recommend using digital currencies specially cryptocurrencies because they don't control it.
Yes you are right , with fiat money they can exactly see what you have when you had it and where you got it from.With crypto's it is so easy to hide money and transactions that they are scared , because how are they gonna tax you.
October 13, 2017, 10:21:44 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country moneytary institution. What do you think is the reason why some goverment are discouraging its citizen to use digital currency? Any thoughts.....
Because bitcoin is decentralized they can't controlled it. Another thing government can't impose taxes for bitcoin users. Not like on local fiat when you deposit on bank and have interest, government can impose tax on it.
October 13, 2017, 10:14:58 PM
I think whether the government will benefit if he recommends using a digital currency such as bitcoin, of course it will be difficult to manage and control it, so far I think the government is more concerned with something that can be arranged, for the benefit of the government, and every government is sure have their own currency, and advise all its citizens to use its currency, so that they can control it , with all the rules they create about finance
October 13, 2017, 10:14:37 PM
I think they are not recommending it because of the price volatility of bitcoin and that is why they are just trying to regulate it since a lot of people doesn't understand the concept of bitcoin so if they will use it and lose money in holding bitcoin then they will complain about it and they will think that bitcoin is a scam even it is not.
October 13, 2017, 10:11:27 PM
the government wants to control bitcoin completely, because it is a digital currency that certainly affects the economy of all citizens. but it can not be done yet, because bitcoin is a freedom for everyone. and no government can control it yet.
October 13, 2017, 09:53:08 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country moneytary institution. What do you think is the reason why some goverment are discouraging its citizen to use digital currency? Any thoughts.....
I don't know why they should ban the use of cryptocurrency, this is what we have all been debating all along, the government has the power to ban cryptocurrency at all times. But for the exact reason I don't quite understand what they say, they tend to be unclear. 
October 13, 2017, 09:49:34 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country moneytary institution. What do you think is the reason why some goverment are discouraging its citizen to use digital currency? Any thoughts.....
The economy of a country is totally handled by the central bank of that country and only the central bank have permission to print or generate money. Now what will happen when you will start generating money and which is completely decentralised? Gov will have a fear of losing the control over the economic structure. They also fear of money laundering without any track.
October 13, 2017, 09:44:38 PM
I think it is because bitcoin is decentralized that the government cannot control it and i think they are afraid so they are not supporting it.
Yes government doesnt have the power to control the bitcoin. Thats why many of the government doesnt accept bitcoin. 
October 13, 2017, 09:38:24 PM
The answer is obvious its because i think that digital currency that they're calling a fraud and critizing with destructive comments is actually beating their fiat currency because people prefer it more than the centralized fiat currency that this corrupted banker and governments owned. The monetary system doesn't need to recognize bitcoin in the people/costumer well decide what do they use and recognize.
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