Topic: Why government do not want bitcoin to be legal? (Read 629 times)
It every difficult to Legalized cryptocurrency by government because they think it not legit since they are unable to regulate it, and secondly because they know they can control it if they should legalized it.
To be honest, every government is greedy for the control and every government wants to control most of the things and aspects of our life. However, the financial aspect is one of the crucial aspects that can control every other factor. The blockchain is something that takes away the power from centralised authorities and distributes it to the users who are actually using it. If it is legalised then it will reduce the control of the government and the government won't allow it easily.
Why governments in most of the countries do not wish bitcoin to be legal? If bitcoin approve as legal in every country will there be any impact for users?
In my opinion, maybe the government doesn't believe in the benefits of bitcoin and they might think that bitcoin will have a negative impact on them. Maybe they are also afraid that if they accept bitcoin then bitcoin will disrupt the economy in their country.
Why governments in most of the countries do not wish bitcoin to be legal? If bitcoin approve as legal in every country will there be any impact for users?
Why governments in most of the countries do not wish bitcoin to be legal? If bitcoin approve as legal in every country will there be any impact for users?I think the main reason for this thing is that Government finds Bitcoin as a main competitor for gaining the trust of the mass people specially when it comes to money, and up to now they can't beat it neither join the Bitcoin since it was very techy and so much limitation for the government for now to understand the whole thing with relates to Bitcoin.
Speculative price by bitcoin and altcoin its more stronger reason why government do not allow for make bitcoin as legal transaction, they do not want to respond if many people could be lost their money at bitcoin or altcoin investment.
Why governments in most of the countries do not wish bitcoin to be legal? If bitcoin approve as legal in every country will there be any impact for users?As far as I know not all the governments doesn't want bitcoin. I think there are really few number whereas they somehow agreeing to this and participating to the cryptocurrency world. Anyways, in my opinion, some of the government doesn't approve of bitcoin maybe because they are afraid to what it can bring to the society and to the fiat currency each country have. Another one is that they cannot really control its value, demand, usage, and so on and sometimes it is used in illegal doings.
Why governments in most of the countries do not wish bitcoin to be legal? If bitcoin approve as legal in every country will there be any impact for users?
if bitcoin becomes legal and its value is always watched by all parties, it is not impossible that bitcoin will control almost all transactions in each country. and the bank will become lonely with the impact. it can lead to inflation, so the government will certainly continue to think about it.
Every country has its own currency as a symbol of the country, and of course the state will not easily accept bitcoin, bitcoin is also decentralized which makes it difficult for the state to control it.
The government is afraid that if one day fluctuations will cause major problems if left unchecked. But fortunately, it is still allowed to use bitcoin as an asset at least here in my country. The price is very volatile and the government cannot control it. It's an easier way to describe why the government doesn't want to make it a legitimate currency.
Bitcoin is the most promising factor for the development of our future economy if Bitcoin will not be accepted by the government are accepted by the people in the world then the economy development will be reduce the slowly because cryptocurrencies had the future of our self we need to approve them quickly without any trouble if it happened then the future will be so much good as we expected.
there are many reason why government is not agree with that, the big reason is because if many people use bitcoin in a country, or investing thei money into bitcoin, the government can't know the investment amount and they can makes their economy of that country stable, if this happen mayne it will make a big infalation
Bitcoin is a free coin from any state and the idea of using bitcoin without interference in its Affairs of officials and tax services, but if bitcoin is recognized around the world, its idea and purpose will not change and will only benefit. Legalization will affect the price in a positive sense.
The government is afraid that if one day fluctuations will cause major problems if left unchecked. But fortunately, it is still allowed to use bitcoin as an asset at least here in my country. The price is very volatile and the government cannot control it. It's an easier way to describe why the government doesn't want to make it a legitimate currency.
The price is so volatile and government can't control it. That's the easier way to describe why government do not want to make it as a legal currency. The government afraid if someday the fluctuations will cause a massive problem if it is allowed. But fortunately, it is still allowed to use bitcoin as an asset at least here in my country.
I agree with you, that bitcoin volatility is the main problem on why the government didn't allow it to make it legal because it can really affect the everyday life of an individual. Imagine one day bitcoin are used as a payment method and its price changes very fast on which could affect its value in the society that could cause sometimes a gain or a loss in our financial status in life.
I guess, bitcoin is too complicated for the government to regulate that's why very few have really recognized its merits.
I think it's because cryptocurrency, if it will be implemented, can fight corruption and money laundry. This is not so convenient for governments.
The price is so volatile and government can't control it. That's the easier way to describe why government do not want to make it as a legal currency. The government afraid if someday the fluctuations will cause a massive problem if it is allowed. But fortunately, it is still allowed to use bitcoin as an asset at least here in my country.
The government has its own value principle for Bitcoin most governments do not prohibit and do not tell it all depends on the user itself, many regulations must be discussed if bitcoin is illegal, which is important so far bitcoin is still safe to use as a currency ingital, the point.
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