Government and Bitcoin

[Chicksteen]

It is very hard to regulate. Bitcoin would encourage more money laundering due to the anonymity it provides. Regular people still don't understand Bitcoin and think of it as some kind of scam.

WE do not need recognition from the government at all. We can make this community bigger and bigger everyday by ourselves without depending on the government. BItcoin and the cryptocurrency are based on the decentralized system and therefore, we can not expect the government to accept it as a tradition currency

[Odelkaleng]

I think bitcoin still does not make sense to the government, why not make sense because the price is fantastic and the increase is quite high. It may be too dangerous for a country's economy.

[Taskford]

The government of many countries is not ready to change the economy of the country so quickly and drastically, it is a long and painful process. some countries understand that using bitcoin and blockchein technologies can improve the economy, and some have not realized this.

I agree to that, that is why there are FUDs happening, other countries is still doubting the capabilities of bitcoin to improve countries all around the world, I can't blame them though, I also doubt bitcoin on the first time I entered this cryptocurrency world, but after some months I've realized that it is true, that you could make money out of it, and that is the time we are waiting for, for the Government to realize that bitcoin is legit.

[hrz]

for now the government has not passed bitcoin maybe they are afraid of falling currency in their country.

[saifanik]

The rule of governing each country by government is different.So whether the government will accept cryptocurrency or not.If government want to make a digital country, you have to accept crypto and have to correct the systematic problem that arise.The government can't control and regulate crypto yet.The relationship between crypto and government is not positive till now.

[luis sagna14]

First it's strange to them,they hardly trust anything online that they didn't create by themselves,then bitcoin being a decentralized digital currency that make the government powerless..

[Agathai]

I think, even if the G20 has made a good move as it increasingly recognizes crypto and bitcoin more equitably. There are conflicts between them. The most special way is still the method of operation and centralized and decentralized operation. Of course, we all hope that the government can find a suitable adjustment to support bitcoin and crypto to come closer to this modern world. although it is very difficult!

[jhache]

The answer is quite simple really, why would governments allow something like Bitcoin flourish on which they don't have any control over. The governments make anything illegal that they cant control or have any power over. And if you are waiting for the governments to make bitcoin legal than you will have to wait a long time.

[cryptopowering]

Is Bitcoin Operate by real people ?

Have Bitcoin any kind of  Managing Committee Where Government can Servey ?

That is why Government and Bitcoin relation so far. But some country really feel necessity of Bitcoin and they approve bitcoin, I think they will profitable

very Soon.

[malbterxic]

The answer is quite simple really, why would governments allow something like Bitcoin flourish on which they don't have any control over. The governments make anything illegal that they cant control or have any power over. And if you are waiting for the governments to make bitcoin legal than you will have to wait a long time.

In fact, the government does not necessarily need to legalize bitcoin itself, in the case of legalization, many internal economic problems may arise. I think the government is much more profitable to create its national crypto currency and this would be logical and modern.

[Ashong Salonga]

It's not that they don't trust Bitcoin,
it's because it's decentralized and they like things centralized and under their control at all times.

Chances are that in the future they will create their own crypto currencies for even better control of you financials.
Even though I doubt they will keep a public ledger.

One of the feature of bitcoin is its decentralized structure the reason why government do not have something to do with it. Government has no control in Bitcoin.

[P60]

I think bitcoin still does not make sense to the government, why not make sense because the price is fantastic and the increase is quite high. It may be too dangerous for a country's economy.

Bitcoin is a virtual currency and it doesn't controlled by the government; thus, government officials have no rights to meddle in any transactions of two persons in Bitcoin.

[reisuke24]

not all country or government dont trust at bitcoin. in a fact, many country accepted bitcoin, as payment too. and many country that rejected bitcoin, now they are try to accept it. im sure in some years, all of country maybe can accept bitcoin because it can be use across the world, as the secondary money. and the government can implement bitcoin's system to their daily job

[martin1221]

They are not trusting bitcoin but some of country has a regulation that taxes are there in cryptocurrencies. Like Australia, once you will cash out those money from bitcoin or other cryptocurrencies, there are some taxes get from you. Maybe this thing are good.

[Coinnosaurus]

There are a lot of reasons. For example there isn't asset backing the value of bitcoin. The cryptocurrency’s value is simply determined by supply and demand, unlike fiat currencies which are based on gold or other precious metals.

[Luckyone10]

They don't trust bitcoin because they don't have an idea about this forum, it can really help all the people survive their difficulties in life.

[jonaire99]

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

For some governments, they will not put their trust in a thing that they can't control and they are seems to be allergic to the word "decentralization." They are used to control their national currency, finance and economy putting them in a centralized system so they can monitor every activities. Bitcoin is decentralized, blockchain based virtual currency and conrol is nowhere to be found.

[Dudeperfect]

Well, and it will never trust in the future too. Governments are greedy for the control and thus they will never allow anything that can cause the threat to their ambition of controlling every aspect of our life. Bitcoin is based on a blockchain technology which relies on the principle of decentralization and it takes away the power from centralized authorities and transfers it to the users and hence government don't want that to happen.

[abonti]

I thank this bitcoin is new cryptocurrency .many goverment do not know how to control it. and they think illegal, they don't understand how to use it.

[Minionnn]

bitcoin grows strong. It has many benefits, many people have become rich thanks to bitcoin. But many people, many governments still have doubts about that. So many governments do not accept bitcoin. Many governments do not accept bitcoin. I think some governments do not accept bitcoin because they do not understand bitcoin. Some governments do not accept bitcoin because they do not control bitcoin's transactions, they can not apply the tax to bitcoin.