Government and Bitcoin

[nurbay]

In my opinion, the Government still prohibits the use of Bitcoin because the government still fears when using Bitcoin for crimes such as money laundering, drug purchases, for terrorist attacks.
Actually, the government can track the use of Bitcoin transactions as long as there are regulations issued and has been considered by all governments and countries.

[komisan]

Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence. They also dictate how fiat currencies can be transferred, enabling them to track currency movement, dictate who profits from that movement, collect taxes on it, and trace criminal activity. All of these control is lost when non-government bodies create their own currencies.

As a result of this, government is looking for a means of regulating bitcoin and other cryptocurrency so that they can have their own share that is why they are waging serious wars on bitcoin.

[fcklife]

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

Because I believe that government all over the world thinks that bitcoin is a big threat for them. The government will not gain taxes to the people who use bitcoin. They don't trust bitcoin because it can harm them in the future.

[bravehearth0319]

Its not that they don't trust is their just playing safe around it at the moment as they don't really know how the system works and they don't have control over it. Bitcoin is decentralized which good and all but for the government its bad because they don't have power over it and many things can happen if they get involved. They putting up regulations to address this difference but still they need to be cautious.

[jpaul]

Governments have their own reasons for not believing in Bitcoins, his however dos not apply to all governments, there are those that have embraced BTC and are allowing its transactions, Germany and Denmark for example have legalized Bitcoin. The main argument for other governments not trusting Bitcoins however is the fact that its almost impossible to trace its transactions hence not very easy to tax it, in the process denying the governments a chance to earn from the income tax

[israfil]

quality of your life has increased greatly Bitcoin, Bitcoin can be used to get many benefits, the government will not usually accept the support or bitcoine and they will do something to prevent it. I think the government and politicians are horny monsters and they can not just fuck Do not like things.

[maichimoto]

Its is hard to them to trust it's other in this kind of situition the government cannot get more taxes from bitcoin it is because bitcoin is digital currency and anonymous, bitcoin advantage is the price is high and easy to transact online business.

governments have certain resposibilities, so it's natural if they're cautious and try to investigate the whole network before setting up the regulatory frameworks. That is the right way.

[nazaididuan1]

The representatives behind Bitcoin are a force that opposes centralization of government and opposes the centralized Internet forces!
As long as the "government" organization exists for one day, this so-called "decentralized currency" will be subject to government restrictions. The interests of the two are antagonistic to each other.

[aizenbryle]

I think the government is still having trust issues whether to integrate bitcoins in their economic system due to the volatility.there are still many governments who are unsure of bitcoin. from the information I got that the government does not believe in bitcoin because they think bitcoin is where criminals deal to buy weapons, buy drugs, and money laundering. other than that the government does not believe in bitcoin because transactions that occur can not be in the know person who sends and people who receive bitcoin.

[Christian31]

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

Government are afraid to change what they accustomed. Moreover, the government already have control with the current system. If they introduce a new system, probably they will lose control like transparency.

[tesmark07]

I think not all of government were not trusting bitcoins.
Because there are also government legalizing btc .
Some government have no idea what bitcoin is ? And still don't realized the benefits of btc to their citizens. They believe that BTC is a scam and that's why they don't want to engage in  Blockchain technology.

[Khalp1]

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

The lack of central authority is the primary reasons why government doesn't trust bitcoin.and also other government until now think that Bitcoin is using for illegal activities.

[jessequick]

Governments want to keep the centralization of the currency in the form of banks and Bitcoin is totally an opposing entity that is why the governments are reluctant to trust the Bitcoin. But they will realize soon as people are getting awareness from every source about the bitcoin and other altcoins.

[venlo]

Governments are greedy for the control and this they will never allow anything that can cause the threat to their ambition of controlling every aspect of our life. It will aaffect them in long run to compete with the developed world. Currently Bitcoin is helping people and I hope the government can see this.

[ninjaeth]

There are now a lot of the Government banned using bitcoin because they fear criminals use it with negative intent, but I think there are also some Governments accept bitcoin and let people use the bitcoin, so it bring good benefits and resources live more fully thanks to bitcoin.

[Cash BTC]

One of the main reasons may be that bitcoin is a decentralized currency, meaning that no one or government can control it, this means that if the government can not control it, then the government will not face it because it does not benefit them.

[galaxing]

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

Why?
I think because the government is still investigating about bitcoin, the government is still digging about bitcoin.
Trust comes with understanding.

[almtu]

There are different culture, different beliefs, different views that make everything in a comfort zone. Once the people in the country are contented and comfortable by what they already have they wouldn't look for something because they seems have everything. Some countries doesn't want bitcoin because the people of the nation doesn't have enough living for everyday live and they can't afford to provide their daily needs. There are different reasons why all countries did not make bitcoin as legal. The barriers is limitations and capacity and ability on the people to adopt.

[Bitcoinnumberone]

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

I think government scared to bitcoin, because government control fiat currency they banned bitcoin to earn a lot of money it's all about business. I think government afraid of being ahead, Bitcoin and government have trust issues the legalization of bitcoin is no justification they think that bitcoin is scam and using for illegal activities.

[Chooroz]

One of the main reasons may be that bitcoin is a decentralized currency, meaning that no one or government can control it, this means that if the government can not control it, then the government will not face it because it does not benefit them.

Yes their main distinction is the bitcoin’s decentralized feature. The government do not have something to do with bitcoin unless it becomes involve in serious crimes and fraudulent activities.