Bitcoin Forum

I am thinking this from long time.what is the problem with this.it has lot of benefit like instant transfer any where in the world,less transaction fee,no need to exchange,ONE CURRENCY ONE WOLD.

Then I came to conclusion that this is all because of control.If gov support the cryptocurrency then he loose the control from monetary policy.it can toppel the gov,BECAUSE money is ultimate control of the politics.


this is my opinion ,Am I right or there is any other reason??

That is the main reason why some the government does not allow cryptocurrency in their political jurisdiction. Accepting cryptocurrency is not a simple matter since there may be negative impacts on the society especially on financial sector and the economy. Another thing is that cryptocurrency enables a person to be anonymous hence it may be prone to be used by criminals and can be a tool for money laundering.  But some countries have accepted bitcoin and cryptocurrency after a thorough study and after establishing some regulations to protect the investors and the economy of the country.

digital asset cryptocurrency can be Transfer fast and cheap even between countries.
very significant price fluctuations in a short time.
the government can not control the price movement.

the most important keyword here is some governments.
and also you are forgetting that a real cryptocurrency like bitcoin doesn't need the support of any government to succeed. what bitcoin needs is people which are peers on this peer to peer network since it is decentralized. and unfortunately last year brought in more investors instead of users and investors are known to run away at first sight of FUD.
the government is doing their thing and most of them have no problem with bitcoin so far, they however have problems with illegal activities that are happening in cryptocurrency space like all the scams that ethereum platform has made easy for ICO scammers.

I partially agree with you. State financial regulators of various countries are looking for ways to integrate the cryptocurrency economy into the financial system.  It's necessary both for the purpose of establishing control, and to obtain the tax return from the turnover of the cryptocurrency. However, these processes complicate, as cryptocurrency, and a lot of financial governments opinions  on the situation development.

Because they are not in control. Blockchain is mostly used in transactions that involve cryptocurrency. It could be good for data management and can be adopted by the government only if they can control it. But it's feature includes anonymity so the government won't be able to trace transactions. That encourages criminal minds to make illegal transactions and money laundering. This is probably why the government does not want to support cryptos.

I think that governments are not supporting bitcoin and cryptocurrency just because those governments are controlled by banks . Everybody knows that banks like Goldman Sachs or Morgan's are the most powerful not only in the US but in the world and they are controlling a lot of governments so for them cryptocurrencies represent a big threat to their business and that's why they are pushing hard fighting against cryptocurrencies . Anyway they will not succeed in that mission because crypto world has become big and they could do nothing about it .

One word, volatility. That's the best word to describe why the government is not supporting the newly developed technology that is running by experts this time around. It's so sad for them not to see the use of our cryptocurrency.

If one world one currency means governments how will tax us? All the governments are working through taxes paid by citizens if all of us completely starts to use crypto currency then governments don't have funds to run the governments ehich will result to economical crisis,but crypto currencies will do more benefits to the people not to the governemnts that is the reason governments are opposing crypto currencies.

It is obvious that the reason why some governments dont want to support or legalize cryptocurrency is because they cant control it since the nature of most of them are being decentralized digital currency, which means it can work without the help of any government institutions and banks and it is hard for them to implement a regulation. This is also the reason why some governments want their own cryptocurrency and make it a centralized one, so there will be no problem for collecting tax on gains and they can monitor every transactions easily.

It will be hard for us if theres not tangible money, in our country you can buy a stick of cigar. If there is no tangible money there will be no retailers in a community because they cant afford to buy a machine that accepts crypto currency because for sure the machine will be expensive and that will cause the small business industry to die.
There will be no "one world one currency" it is too impossible, the only possibility is a combined country currency and cryptocurrency.

why the government dont support bitcoin, because they dont want to makes thir central banks is not productive, its mean that if central banks is not productive and passive that country can't be a crisis country and have a decrease value of their local currencies, so they dont support bitcoin to makes their country better than before

It is simple, they don't want to support Bitcoin and other cryptocurrencies because of decentralization and anonymity that majority of cryptocurrencies offers. Decentralized cryptocurrencies allows people to trade directly and anonymously which is alarming for governments because it makes them and also banks useless, another reason is it will be hard for them to tax those people who are gaining profits using cryptocurrency and it can also be used for money laundering. But not all governments are being threatened because there are still lots of countries that also see the good/positive side of cryptocurrency and not only the bad things.

I think they don't want to lost all tax of current

They have gathered knowledge. They know bitcoin and they know how it can be useful for people in transactions. But they don't like it. Because most of the benefits are for people not the governments. They don't want to not be able to control transactions.  

It's true I also think what you think, if the government loses control of money then the government will be able to collapse.

There are a lot of things to consider here, no government wants a parallel currency being used which could reduce the value of their national currency and i am sure this will be the biggest fear in many governments eyes. It is not just another technology that can be accepted like others , it is a revolutionary economic system that is changing the way we see things and how easy you are able to trade globally with ease.

So what is future of cryptocurrency.How the gov will treat it in future ?

Unlike labor works where a country needs in developing their nation which is essential for the growth of the country. Bitcoin is where people just sit and watch the price of the bitcoin where there is no labor done

you are right, the control freak government fears losing control over people's financial data which plays a vital role in government's public tracking system. Bitcoin can free people from this slavery.

Government sees crytocurrencies as a sabotage to their economies of course some government beliefs cryptocurrencies may evade tax while transfering one crypto to another, therefore there will loss of revenue to the government that is why every government is using every available means to thwart the evolvement of cryptocurrencies.

Most government do not support crypto because of the financial risk that it can cause to its users which is primarily due to its highly volatile price. They are also scared that cryptos can be used on illegal activities such as money laundering, payment for drugs and deadly weapon, etc.

Yes off course you are right that is what keeping the governments hand off the grid from crypto currency world. Others just ask yourself they have all the power they want and they could just implement any rules they want as long as they are valid points. So the first reason is decentralisation. Also you might think that they could just make it centralised and then run the nodes again but the thing is it will take out very basic principle from the crypto world and it wont be the same again and may not work with the same way too.


This is what bothering most of them as this will lead to chaos and dramatic drop in the worlds treasure. How the valuation will go if the value for every product and services, properties, assets and everything becomes the same throughout the world?

why would they? BTC is an open threat to centralized financial systems that are controlled by Governments, banks, and other financial institutes. The only way government will accept BTC in its regime is after its regulation. Meanwhile governments worldwide are cracking down hard on cc.

Government can't support anything that gives financial freedom to public and pose a threat to the centralized financial system. But they also can't ban it due to its decentralised nature. So what most of the governments are doing globally is bringing in regulation which completely destroys the basic idea of cryptocurrencies that is decentralised and anonymous currency. So, yeah we ll find it hard to have a decentralised financial sysrem in present type of economic system.

The government feels threatened because for the first time we are in control and not them? Viva le Bitcoin!! The government should fear us and rightfully so. We won't go away we will never give up. My freedom is much more important then some money grabbing group of individuals I never even voted into parliament. Fear us!!! We are crypto army!!

Yeah may be this could be the prime reason but I also see something fishy, for example, if they get the crypto currency used by themselves then they could end up in tragedy of loosing the control over fiat currencies. I mean if they start accepting the crypto currency then it would be direct indication for the public that they are free to use the crypto currency and obviously people will feel far safer and might just start using them. So you see thats the problem here, its government who might be thinking two steps forward about their own fall and thus may not accept it ever unless and until they find some middle way for it.

A pretty simple reason for that. Why dont you think electric cars and electric vehicles havent been too common until now?? Or havent we been able to harness the solar power. Its all because govt thinks of their benefit. Lack of dependence on oil will be a great loss to everyone so they have hidden this technology. Same is with bitcoin and crypto the technology is quite against the idea of government which makes this technology and its usage pretty harmful for govt. As people will feel a bit free.

There are many reasons for governments not to support cryptocurrency. Although crypto has very good benefits, but each country has different views. Your opinion is also correct, crypto is anonymous, it does not depend on anyone so the government can not control it, they also worry it affects the economy. In addition, concerns about money laundering through cryptocurrency may also be a reason for governments not to support it. This is just my opinion

It is quite easy to understand why some governments are against Bitcoin. Some of them would like to control their citizens as much as it is possible. Thanks to centralised banking it is very easy to check on what certain citizen is spending their money. Some governments banned Bitcoin because their citizens were buying it because of huge inflation. Bitcoin was more stable than their own national currency. Fortunately, there are also countries who see the potential of Bitcoin and it looks like they are going to make it legal and available everywhere.

You are right in that cryptocurrencies will topple governments. Imagine if they have no control over this type of money, no taxes to pay the police or military. It would create havoc everywhere!

     some country are acknowledge bitcoin and other country are banned.Lack of legallity on the part of transaction and taxes.
     bitcoin is called decentralized blockchain no-one is can control even the government cannot control it.Only one can control the user of the system thats why very unique system.
      For the new technology if you referring a hardware, we need a clearance to the government selling your product to the buyer and buyer need a document in government approval called "PERMIT" with tax.

In my opinion, I think government is not supporting the cryptocurrency is mainly because it is decentralized.
So if there is any big shots are investing in crypto, you won't know if they are using clean money or black money.

Another thing is that maybe the government itself is trying to take over the cryptocurrency, launch one as their own, imposing taxes and gain profit from it.

It does not work like that, there are a lot of countries who are very supportive with blockchain and cryptocurrencies, the only one that clearly hates cryptos is USA and China.. The other ones are neutral over it.

Government authorities support things that are only useful for them. They might consider Bitcoin as something dangerous because they won't be able to monitor transactions and create more coins which they could use for covering their expenses. Many new tech was killed because of lack of donations from the government. Is it because politicians don't understand technology? I don't know. Maybe they are accepting projects which in their opinion will give THEM a lot of money. They will have to start using cryptocurrencies anyway. They won't have any other choice.

Because they want to control the economy which they've been able to run for so long, they've had control of currency forever -- and with it comes a massive amount of power. They're able to control the amount of money being printed, the interest rate numbers, and so on and so forth. They control everything. Bitcoin and other cryptos, threaten this, by taking the power away from the government and putting it into the power of the people.

This is why they support nothing related to decentralized crypto.

No government never want anything in their country in which they have no control and crypto currency are those thing in which they have no control. In crypto currency transaction you don't need to give full information and crypto currency also provide them uninterrupted transaction facility. These thing attract anti social people to done their illegal transaction. Due to fully freedom and privacy many people using those currency instead of an country real currency. This thing affect country economy growth.  ;)

i think i will write a blog article why governments oppose this since people ask this question quite a lot

I also wonder as much as you do why government is not supporting cryptocurrencies. I think it has to do with the decentralized nature of cryptocurrencies. By this, financial liberty has been returned to the people and has made them their own bank. Government now sees regulation as a way to come into cryptocurrencies.

The thing to remember is that the government is just a bunch of people, often very confused, hungry, irritated, suspicious of change. when you think of the government think of the worst possible elderly couple ahead of you in a line at a buffet.

ok i promise you i will write a blog article to make you understand why governments oppose cryptocurrencies.

well goverment is thingking how they can use it and can gain benifit for their country and can reduce the disadvantage of it, so they need a more time to getting the way better of use it, by making some regulation or amndment any kind that very complicated matter with the goverment way

That is probably the main reason, I'm pretty sure that at first governments were against the Internet but they found very soon that people will reveal to them a lot more information than if they tried to force that information out of people, with services like Facebook Google or Apple they are obtaining a huge amount of information, but with cryptocurrencies is going to be the opposite, cryptocurrencies are in fact an effort by some part of the population to use other channels other than the official ones to make transactions and for them this is dangerous.

The reason they have little support simply has to do with control. Governments are set up to control people and Bitcoin was set up to be uncontrolled. Secondly it is hard to tax effectively and governments want their share.

Exactly! Money is what makes this world revolve. Cryptocurrency involves a huge huge amount of money and is still growing. Since it is decentralized, the government is generally against it coz they have total control over it. And they hate it when they can't control something that involves money. Greedy bunch of folks!

In my opinion, in my particular case, it seems that government is aginst bitcoin and other alts, becouse they cannot get profit (taxes) from them...

I think that you are partially correct, as far as the government wanting to keep control, instead of allowing the people to usurp the monetary system with digitally cryptographic currency. Their are a lot of politics involved. So I myself, an unsure to the exact reasons it isn't massively adopted by parliament.
   Parliament around the world, runs on a system whereas "if it isn't broken, don't fix it." Now, I can see parliament across the globe, adopting the technology, and then issuing their own version of currency coins for the people.

You're right, the main reason governments across the globe are having a hard time identifying with Bitcoin and cryptocurrencies in general, is in the fact that these coins hands back power to the people to manage their finances by themselves, which is one thing governments after governments have been sitting on in order to maintain the statuesque until Bitcoin showed up.

Beyond everything you mentioned, I respect the fact that its simply the responsible thing to do for a government to be skeptical of a system that completely changes/bypasses their current system. They need to be 200% sure it is a working, stable, life sustaining system. Even if they are supportive, time will have to tell.

Other technology may benefit the govern one or another way. But there are some govern who think that btc is not giving benefit to them. Usually, those are some poor and stupid countries who do not know anything about btc and start to be afraid of something that they do not know. It is common but I think we people should change that fact and should change that point of view. In fact, if those poor people and those poor countries want to take advantage of btc, I am pretty sure that they will become rich and prosperous country. But I guess not everyone can understand how we think, so we can only encourage the people to do so.

i think it is because the security reason in cryptocurrency that there are some governments not supporting it.
they cant know who is the owner of the crypto, and they cant tax the crypto.

This is because they think this new technology can use by the terrorist against them. Because cryptocurrency is a digital currency that cannot hold by the government. And I think they against them because they cannot put tax in it. ;D

many people in cryptocurrencies think

that the people that work in the economy for national fiats are just a bunch of robots that love doing that,

nothing is more stupid that thinking that.

many of those people do those jobs because they see no other choice of doing something else.

with cryptocurrencies out there now, these people will now think,


hmm why work?

why not also just create a cryptocurrency, this ultimately leads towards a society in which the productive industry lacks enough labour.

then cryptocurrencies start to destroy the economic and social basis of that society till there is nothing left but just a bunch of money printers looking for idiots to sell them their time.

Would you let something you don't have control over to grow? The same is the case with the government in not promoting or letting crypto currencies to thrive. The governments don't have any control over the crypto currencies and they understand the potential crypto coins have over disrupting the traditional money.

such as the government that always looks badly at the cryptocurrency community. I will also give a subjective reason for the government that keeps trying to block cryptocurrency. the reason is very clear, they are just afraid conventional money no longer appeals to the public, whales who have an interest in national banks feel it as a threat to them. and the last reason is the government wants to get a share of a few percent of the money transactions in the crypto market, they want taxes! that's clear.

Some governments do have a negative attitude to bitcoin. Impose a ban on its use. These are mainly States with dictatorial rule.So want to have control over people ,zastavit people to play by their rules and to turn people into weak-willed herd. All its limitations so is the fight against illicit transactions, money laundering and tax evasion.

Cryptocurrencies are created to bypass the middlemen. That means banks and authorities are kept out of financial transactions made with cryptocurrencies. As banks and authorities want to control each and everything that has to do with finance, they will not support and not even allow cryptocurrencies. But they will use the blockchain technology and even create their own centralized cryptocurrency.

because government have no control over cryptocurrency. there are many times cryptocurrency are being used in illegal activities and government can't stop them. maybe they still find a solution how to regulate it before they fully support it.

It is very difficult for some governments to agree with that. that in their territory as a means of payment there will be a crypto currency that can not be controlled by it and with which it will be possible to anonymously withdraw money from the country. And the cost of bitcoin is thousands of times greater than any national currency and has greater volatility. It's just an uncontrolled financial bomb inside the country.

government is no supporting crypotcurrency because they feel it will over shadow the use of fiat currency and they government know they cant regulate the use of cryptocurrency like bitcoin. government are always scared of anything they cant control

That is indeed one of the reasons why governments doesn't allow bitcoin be legalize in their place. If they accept bitcoin as a digital money, they will lose control in publishing paper money or so on. No one in the sane condition would allow something to grow if they don't have control over it. Another one is you can go anonymously in here. The transaction is also difficult to tracked down.

Yes, I also think for this reason government is forced to banned crypto currencies.Bitcoin is using for iillegal activities like money laundering.People are also avoiding tax with the help of bitcoin.So I think for these reasons bitcoin is not accepted by any government cordially.

I figured it out finally, how the USA is going to cripple bitcoin.

They are going to create a new 'crypto tax' in which every time you convert USD to crypto, they will tax it like a gas tax. So you will have to convert it to Euros first, and then try and go overseas. But if you do any in America, there will be a crypto tax. They will pass a law that ALL regulated conversion companies MUST collect and pass this tax in order to be a recognized banking institution, and all others who fail to comply will be investigated for 'providing money to terrorist organizations' and subsequently shut down.

What this does is pretty crazy. It makes it MORE expensive to purchase the same things at home in the USA than with cash or debit cards, which will immediately stop the adoption of it by vendors.

Banks win, the Government retains control, and people who want to have bitcoin for 'funzies' can still do so. Plus, new banking restrictions are in place and are very hard to get or you have to pay a really high fee for a 'banking permit' to sell and exchange BTC.

Edit: yes, I do own bitcoin, and I fear for this kind of stuff.

If there are only a little or no merit for supporting the crypto for the government,of course they will leave it alone.The regulation about cryptocurrency is because there are negative effect that has been occur and affect the people.But government has utilized the technology behind crypto,the blockchain to be implemented in some system.

Well, this technology was created to be against them. Governments and banks want to control all the money in the world and apply taxes for every single dollar you earn. That shouldn't be a problem if governments would use all of those money to develop the country instead of stealing a big part of it. Bitcoin is a technology that people can use to transfer money worldwide anonymous which means governments doesn't have to know about that.

I think there is no need to support of the govt. It is the technology which can be used without the support o the govt. Beside this, As the popularity of the BTC is increasing day by day. Time will come then all govt compled to accept BTC.

Well for the sole reason that they cannot gain from it, thats we called tax. Other people prefer doing a full time on bitcoin because they can earn more and they own their time. ANd the good thing is it doesnt have any tax