Topic: Why government don't accept bitcoin??? - page 3. (Read 1223 times)

Yes, it's one possible reason but not only one.
What if someone stole your bitcoin?
Can you complain to the authorities? Ask for legal protection?
Which authorities?
There is no country or bank responsible for bitcoin.
I think that we may have state crypto currency in the future, controlled by the government.

Bitcoin is decentralised, it has no governing body. It can't be controlled by someone, if the government can not control it they won't accept it. T

Its just on my thought, maybe because they don't get tax in bitcoin , well im not sure in that but in my country i know government accept bitcoin because its legal and some store are accept bitcoin as payment.

The fact that bitcoin is decentralized and not regulated, the government will surely won't allow that. Even now, some countries are doing moves to ban the use of bitcoin to their people.

I think accepting bitcoin is a big problem because it will have a huge impact on their country. If they are not sure they can control bitcoin, not accepting bitcoin is a good decision

becu they dont hodl enough yet

Why would they accept it? and what do you mean by "accepting"? You have a bad concept of it, a whole government can not accept bitcoin because they are not selling anything.
The ones who decide if they want to accept bitcoin or not are the stores, not the govs..

they don't accept better technology because it can be harmful to their country . There many bad activity appear if they accept bitcoin
EXample : money laundering, gambling ,...

The reasons why government don't accept bitcoin may include no revenue to generate like Tax,Vat,bank charges  and others,since it is a digital currency that works with Blockchain Technology, the government will not see the need or benefit involve in accepting Bitcoin, the government may be considering what Economic impact that Bitcoin will generate to countries financial growth and may not really see it in any way. And since the government and the Financial institution really do not understand the ideology behind the Bitcoin, all they could do is not to accept bitcoin.

I don't know if you know this but pretty sure you have seen the replies on this thread and I'm going to say it anyway... Basically it's TAX! These government doesn't want bitcoin because they won't profit from it pure and simple. Outside that, bitcoin is generally anonymous. You won't be able to trace who is funding who. Do with that in mind, terrorism and money laundering could easily be done with this platform

Because through this trading platform or investment, people throw their money into bitcoin, and that money circulates around the world. When money leaves the country, governments dont like it at all.

imo it is so new that legislation is running behind. Legislation is the usual means of control. The law is, as Bastiat concisely said, “legislated force”. If the law fails, then it is back to good old fashioned grift and violence.

If they can’t mooch the golden eggs, they will roast the golden goose for dinner.

Also, right now, clearly money is pouring into cryptos and it is a new frontier. We know this even here, as there are many posters from all over the world who hope to create a new situation of wealth for themselves and their families.

This is truly a new development.

Governments will have to be advised by people that understand what is happening and that requires a set of new skills. Government just isn’t in a situation to adapt that quicky.

Bitcoin is only the beginning, but given its historical role, also as entrepot to other cryptos, especially given time to confirmation, it is going to continue to rise. It is more like gold, old money, even though it is not even ten years old.

Governments care not much about this sort of thing, as long as they get their cut.

What is really interesting is bitcoin was created as government and banking elites prepared themselves to go fully digital and make all depositors become unsecured creditors to fiat banks, ie directly steal from depositors! As if debt and inflation was not eniugh, they are so greedy!

A truly anonymous, decentralised, low to no fee model of exchange is an obvious choice to confront them with, but we are not quite there yet. For now, we live in a remarkable historical moment.

in my opinion some state governments do not directly reject the bitcoin, they can not accept bitcoin because they have not understood about the application of digital currency also about its use in its country.
of course the governments of these countries need to review all things related to bitcoin, they also need to draft standard regulation of bitcoin and its use in order to protect the interests of the state and its people.

Fiat government can print, to start the printing machine, harvest the wool, bits than decentralization, don't accept government regulation, can't control, threatening legal tender status, certainly the government are address and suppress, but the current development, more than status on bit more firmly

Bitcoin are anonymous and freedom and goverments don't like those features.

They do not like cryptocurrencies because they cannot taxa It, the technology does not allow them to suck the blood out of society.

They are scared that will loose their power

As we know, Bitcoin = freedom. Government don’t want to lose control. It is too easy to understand

In part because they still don't understand what happens, in parts because they don't know haw to manage it

I think so too. The government has a great fear of losing control. And their income. But the spread of crypto currency is inevitable. I hope this happens quickly.