Government and Bitcoin

[cmacwiz]

When you have a network system that is directly a possible replacement to the current financial system or will it one day ruin the grip and control you have, would you trust it in the first place? In fact I should change the word to threat to be more precise. Governments generally won't endorse or accept bitcoin for that matter and they will do anything to prevent that from happening.

Every government fears those things which can negatively affect their country economic and financial growth. Bitcoin is digital currency and it is decentralized nature which means its production and distribution doesn't comes under control of government and this thing ultimately affects their country own currency value at international market. Chinese government ban bitcoin because of this above cause. Israel and Bangladesh government ban bitcoin in their country because the crime rate in their country increased due to bitcoin. 

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[salmanahmedone]

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

Its hard to accept bitcoin for all especially for government who are against it. Peoples are addict of bitcoin and never ready to accept the ban of bitcoin on their countries and to earn with bitcoin they use proxy and start going against government policy.I my self do the same thing bitcoin is banned in my country and like other i do proxy just to access my all coins. Actually we all want to accept bitcoin but other's only government who don't allow their people to use it. Who's know that's the reason why bitcoin is going down every day.

[Zainal-baguz]

if the Indonesian government does not prohibit. may invest in bitcoin of origin of all risks at its own risk. such as if there is a loss must be on its own and can not report to the authorities (police)even the government has created its own cryiptocurrency to compensate for the cryiptocurrency that existed first .

[TommyJr]

I think they are not fully clear about the concept.

[Kupid002]

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

Its hard to accept bitcoin for all especially for government who are against it. Peoples are addict of bitcoin and never ready to accept the ban of bitcoin on their countries and to earn with bitcoin they use proxy and start going against government policy.I my self do the same thing bitcoin is banned in my country and like other i do proxy just to access my all coins. Actually we all want to accept bitcoin but other's only government who don't allow their people to use it. Who's know that's the reason why bitcoin is going down every day.

Governmenst have their own reason why they hate ut and dont want in some country to exist this for but we as want to access this digital currency then taking some good strategy is where we can be able to make bitcoin are may exist for even though government dont want it.

[Daniel91]

In my country, government is still silent about bitcoin.
Until now, we had just one official statement from central bank that bitcoin is not money or financial asset and also from tax office, that we should pay capital taxes on the earnings from bitcoin, once we exchange btc funds to fiat money and transfer to bank account.

[GladiosM]

There are many reasons :

1. Transparancy { A lot of the more corrupt governments cannot accept a currency, where every transaction is published openly for EVERYONE to see on the Blockchain }
2. Governments needs to manipulate currencies { Reserve banks determine how stong your currency can be, according to their moneratary policies } The Core Bitcoin protocol is fixed.
3. Anonymity {Most countries does not have the abilities to identify Bitcoin users} and this pose as a threat for security { Terrorism funding and Money Laundering and Crime etc.. }
4. Some governments want to protect the consumers from fraud / theft etc.. { It's not easy to track and retrieve stolen/hacked coins }
5. Other governments just want to protect the value of their own currency. { Money exchange and remittance }
6. Do not forget, that huge fiat financial organizations are backing politicians { Who pay for the election campaigns? }

There you have some of the reasons.  
    

I would like to discuss some of the reasons. Namely about transparency and anonymity. It should be noted that cash has the same qualities. And doubtless, corrupt governments, terrorists and criminals try to use cash. Therefore, I think that the true reasons are somewhat different.

[aderupoko]

i dont think government have anything to do with bitcoins

[Aneuk paloh kambuek]

Most governments are afraid of bitcoin because it poses a threat to their companies, such as banks, and most governments legalize bitcoin by reason of buble.

[frey_oh]

  government and the bitcoin are always compared, because there is a lot of news that the government is banning bitcoin in some countries. But there are also countries whose governments allow bitcoin in the country.
 Maybe the government that banned the bitcoin did not want to risk that bitcoin would disrupt their economy

[GamingBro]

I think that many governments understand that bitcoin is great tool for them and better to use it but sometimes they just have no time for it and they banning bitcoin for a while.

[ericmalik]

Because the government is supervising banks
But Bitcoin is an uncontrollable system also most the profits from the money in the banks reach the government but in Bitcoin the benefits come to people.

[EGOR EXACT]

Because cryptocurrency is difficult to settle. Resources and technologies are needed that are not

[phelbaby]

The structure of bitcoin is of no benefit to the government, they find it difficult to control bitcoin because of it decentralized nature and this gives then concern.

[chadtn]

The government needs human resources and technology in order to control the blockchain

[beezare]

bitcoin has been a favorite of many people and has proved to be a great help to many people and their lives have also changed for the better, but the government still does not believe in bitcoin because everyone can use bitcoin and the government is worried if bitcoin will cause economic chaos and is used for crime

[Pistachiop]

There has been lots of trouble between the governments and Bitcoins, the legislation battles has been on going for a long period of time now,without being given a proper chance to develop

[Sumo]

Bitcoin is a completely new technology, unlike anything else that was before, so it is difficult for a conservative government to understand and accept it.

[BennyK]

Governments are much more interested in centralization where they can exercise much power in the financial transactions of the people. With this, the government can implement its tax regulations on businesses, but here is the case Bitcoin doesn't allow the full autonomy of the government over the transactions of the people, thereby causing a conflict between these two entities.

[Pyr3x]

Because bitcoin is not possible in any way to regulate and control, in this regard, the government is trying to take all measures not to take bitcoin on its territory.