Topic: Why so many Bitcoin users have fear of governments? (Read 1651 times)
It is because the government has a power to ban and regulate or prohibit the used of bitcoin on their restriction. No one can stop people from using something which is decentralized.
If the government bans BTC, the price of bitcoins will fluctuate wildly in the short term and could collapse.
the government has banned bitcoin from the past and in fact bitcoin can be translucent from what we expect. the bitcoin price depends on one's request, the government can only prohibit but can not destroy bitcoin just like that. I can't escape to notice that many users here on forum have terrible rebbelious fear of governments. Like government is some evil devil that will destroy Bitcoin and other cryptocurrencies. But is this realy so, do such claims have any reasonable ground at all?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
To my opinion the cause for something like that is again ignorance. I think that regulation that is mentioned in many countries is often mixed with centralization which is something that is not natural to Bitcoin because it's functioning totaly different than fiat currencies. Also some warnings to people that Bitcoin is volatile and risky investment that come from national banks are often interpretated as hostile behaviour towards Bitcoin and attempts to make people not to use it.
Is there any hope that Bitcoin users and governments will find the common language and help Bitcoin together to be more accepted in economy, especialy by businesses and to become more "legal" everywhere?
I agree with you on your opinion, but why does people afraid about regularization of bitcoin? I think that regularization is a good thing with that bitcoin can have a legal support that can be awknowledge by many. I think what bitcoin users and goverment has to do is to have a discussion about it and share both their insights so that many they can have the best idea in both side.
Fear of governments only users which invest to bitcoin stolen moneys.
She invest because bitcoin was anonymous, but now governments say what he can trace all transactions
She invest because bitcoin was anonymous, but now governments say what he can trace all transactions
Who will not be afraid of the Government especially if she or her have a big investment money in bitcoin, then suddenly the government mandates that banned the use of it in their country. Maybe anyone fear it wont fully made legal to use it in our own country.
it will make a big change because the government has everything they want in their country.
Because the government does not accept bitcoin payments and does not consider the currency to be official currency. Other countries allowed cryptocurrencies but they imposed strict regulations and their reason is to protect their people from any scams that uses cryptocurrencies.
it happens because there is no legal certainty regulating the regulation of digital currency in each country. so users feel scared because there is no legal protection if using bitcoin or altcoin. if the government prohibits the use and bitcoin distribution, then bitcoin will become extinct because it can not be transacted again for means of payment or investment.
Government do not support the use of bitcoin because they have no control over it and it pays no taxes to them. They give some penalty to prevent the generals using it. As a result many users are at risk and have fear of getting caught.
Besides that of course the use of bitcoin will make illegal transactions increased, this is what makes the government does not want to legalize bitcoin. other than that the government feels it can not get any benefit from bitcoin.
we fear the government is the threats that are about Bitcoin, the government threat that makes Bitcoin users afraid, one of which is the legality of Bitcoin. they are afraid because if they already have many assets in the crypto world.
Who will not be afraid of the Government especially if she or her have a big investment money in bitcoin, then suddenly the government mandates that banned the use of it in their country, maybe anyone fear it wont fully made legal to use it in our own country, the fear is always their.
the reason may be that people especially investors have gone mad by paying huge taxes, facing so many difficulties when investing such as US citizen who are facing KYC problem with ICO`s.... these things make people not to want any rules and have fear of control and monopoly.
Many Bitcoin users are afraid of the government because they think the government can do anything that makes Bitcoin crumble. And if in my opinion Bitcoin will not be destroyed by anyone.
If the government bans BTC, the price of bitcoins will fluctuate wildly in the short term and could collapse.
Bitcoin is decentralized which completes the transactions without the involvement of third party. This endangers the existence of commercial banks and central banks.
Government do not support the use of bitcoin because they have no control over it and it pays no taxes to them. They give some penalty to prevent the generals using it. As a result many users are at risk and have fear of getting caught.
it is very difficult indeed to collect taxes from bitcoin, since bitcoin users are not only from one country but across countries and even the world and no limitations or transactions are going on, the government certainly loses income from conventional financial transactions that usually happen because many users switch to transaction blockchain
may be said yes, the government is afraid of the growing number of bitcoin, because the more bitcoin users who make bitcoin as a means of payment then the country's economic stability will be disrupted and the value of their currency will decrease
Many Bitcoin users are afraid of the government because of the many regulations that are happening. Some can say taxes, that is centralized, etc.. But the worst part is that some are using it for an illegal purpose. Many of this users don’t leave personal information or the way they get their money. Working with the government should not be a nightmare, in my personal opinion I have searched for the best digital currency to invest and for all the information I have gather is AML Bitcoin is the solution. They have an AML/KYC compliance.
Probably some of our government officials wants easy money with the bitcoin users or the government implementing high tax with bitcoin so they are being afraid. Maybe they are afraid they getting caught by the government because in that country is not yet legal of using bitcoin.
Government do not support the use of bitcoin because they have no control over it and it pays no taxes to them. They give some penalty to prevent the generals using it. As a result many users are at risk and have fear of getting caught.
Bitcoin has come of age and has become popular over the years. With the coming of blockchain technology, many amazing projects are coming up which sometimes even serve governments of most countries. I believe that a time will come when governments will accept the use of Bitcoin and other cryptos for transactions and I see this coming anytime soon.
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