Government and Bitcoin

[jerix]

Why, until now, government all over the world still doesn't trust bitcoin?

I think not all Governments around the World do not like Bitcoin. Because there are some countries that are very accepting of Bitcoin even the Government of the country wants to legalize Bitcoin in his country. Some of the Government does not like Bitcoin because for the Bitcoin government it damages its citizens and will bring bad influence to its citizens.

[dekafee79]

Why, until now, government all over the world still doesn't trust bitcoin?

The government all over the world still doesnot trust bitcoin, because The government cannot controll bitcoin over. They afraid the bitcoin will be used for illegal activities. It is my opinion.

[YasodRasanka1994]

Because it's still new. And actually a solid percentage of bitcoin users still don't 'trust' bitcoin.

Bitcoin will be the most valuable currency in the world....

[TomUyamot]

Why, until now, government all over the world still doesn't trust bitcoin?

Do not generalize too much. There are governments that already allowed the circulation and use of Bitcoin in their respective countries. There are also some countries that remained hard-headed about their negative stand on Bitcoin. Maybe they are somehow afraid that if Bitcoin enters their country, their power will be somehow diminished since some people might not anymore need the government in buying their needs.

[bitadviser]

Many of our countries already support it, who are not afraid and who wants the good future, the government with the big corruption will fear it, so they try to regulate it, but how they dont know

[Rosscy]

Governments around the world have signaled their ongoing or immediate intentions to legislate and regulate cryptocurrency worldwide, and it seems that the largest banking and financial companies are waiting for further clarity before they go ahead with plans to enter the market.

[Mikasa77]

Why, until now, government all over the world still doesn't trust bitcoin?

I think because they do not know what is bitcoin and how it use, because they think that bitcoin is a threat go their people and because no one in any countries use bitcoin or there is none government who allow bitcoin as a income to the countries around the world. They do not believe bitcoin that it can help to their people.

[Ram krish]

Government not accepting bitcoin because bitcoin is decentralized currency. It is not owned by a single person or any organization. So government can't control it. It is not available in physical format. Due to security reason also many countries banned cryptocurrencies.

[arrmia11]

They don't want to adapt yet the changes brought by technology because they think that it might ruin the economic status of their government. Besides they may not be able to earn for themselves if they regulate bitcoin in their respective country. The whole concept of bitcoin is killing the economy, that's what they are thinking. Although on the other hand, which is the side of crypto enthusiast, they think that it might help the economy grow faster.

[Rrtt]

It's because of issues with regards to bitcoin. There are so many issues about bitcoin that make a bad impression to other people. Some government thinks that it won't make the economy productive and will not help people.

Yes, Government are thinking about the welfare of the people and the productivity of the economy. They are afraid that people will lose in bitcoin and affect the economy. The lack of information also creates misunderstanding between government and bitcoin system. 

[Jerzzz]

The reason some countries do not legalize bitcoin because bitcoin is considered a means of payment to commit a crime. Like human trafficking, organ trafficking, illegal weapons trade, drug trafficking, etc. Because bitcoin uses a blockchain system that is difficult to verify and a good level of security making it difficult to track one's financial footprint.

[Girtod]

because governments can't control bitcoin. therefore, they do not trust bitcoin.

[btcrut2017]

Government not accepting bitcoin because bitcoin is decentralized currency. It is not owned by a single person or any organization. So government can't control it. It is not available in physical format. Due to security reason also many countries banned cryptocurrencies.

I think government are hesitant in bitcoin it is because they want protect the people. Bitcoin is considered a risk investments that could make people lose there resources. Yes the security reason also, there are report of scammers and hackers that are ruining bitcoin reputation. currently bitcoin is helping people and i hope the government can see this.

[Xester]

will,governments are afraid that banks will lose their customers,so people can invest in bitcoin without paying taxes the banking system is compromised.

The governments are not afraid that banks will lose their customers since the government is not supported by banks but by taxes. If bitcoin will enter in a certain country this will help a good number of population to earn online through online jobs and this will help the country to reduce unemployment rate and people below poverty threshold. But the reason why some government bans bitcoin is because they do not have control over it and they have no agency or unit to look over it and bitcoin may be use in money laundering and other illegal activities.

[kyucryp]

I think because the government thinks bitcoin is an investment in a bodong or Ponzi scheme. They do not want their people to lose by using bitcoin. And the government is also afraid bitcoin is used for criminal activities. Therefore they do not like and trust bitcoin.

[mak2017]

Why, until now, government all over the world still doesn't trust bitcoin?

Mostly because governments can't control bitcoin, and are afraid of such high volatility.
I doubt that bitcoin will be accepted by the biggest countries in the world, as it would affect their economy.
More likely we will see small countries, like Malta will give "green light" for bitcoin and crypto, to boost their economics and attract potential investors.

[Bruce1614]

Bitcoin will have its battle with government, yet bitcoin is at least somewhat straightforward more or less mysterious, in the sense every one of the exchanges are out in the open for the included and known gatherings however mysterious from according to obscure gatherings, for example, the administration, bitcoin is found on the standard of flexibility that accompanies decentralization which the legislature can't take away.

[Cloak1]

Maybe because it is much difficult for the governments to audit transactions, and perform their legal obligations to the society, and because bitcoin is unregulated.

[syamster]

Some government has its own reason why they still dont trust bitcoin.Bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin.In the near future many countries will legalize bitcoin because it is one means of generating revenue and taxes.

For sure no government has any specific problem from bitcoin,. If you are talking about anonymity then it is not a big deal price fall and rise is very common, on the other hand now our country is getting better with the help if bitcoin as it gives our people money and also taxes every month use to increase our profit for government very year. As much as bitcoin is rising in price is use to make tax for government more stable and high so I think bitcoin is the best investment for us government should legal it as fast as possible.

[hogriderr]

bitcoin benefits can be sent anywhere in a matter of seconds bitcoin is not controlled by the institution or government. The era of technological digitization has given birth to Bitcoin as a new currency but it is unfortunate in some countries the government forbids bitcoin transactions.