Government and Bitcoin

[2beAmillionaire]

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

I think it takes a long time that governments in many countries will trust and accept bitcoin,it because of the taxation issues.

[bitvelk]

Governments simply do not understand bitcoin and cryptocurrency technologies. It is difficult to find competent persons in these matters.

[Colt81]

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

It is not because government do not trust Bitcoin. Maybe it is just that they are quietly been researching and observing what will be the possible outcomes if ever they will let Bitcoin to be legalize especially talking about the behavior of its people that will surely be affected by Bitcoin usage. But sooner or later, they will surely be convinced that Bitcoin can have a great help into their country's economy. But for now, they are still into studying and taking all considerations that are needed to be observed before coming up into a decision.

[Tenderino]

Governments simply do not understand bitcoin and cryptocurrency technologies. It is difficult to find competent persons in these matters.

In what country do you live to make such a statement? It must be a banana republic, because most countries know very well about the blockchain and crypto currency technology. If not, they can hire whatever experts they like.

Governments trust very well the blockchain technology and some governments already consider to introduce its own coin based on blockchain technology. But most governments do not like the decentralized and private crypto coins, because they reduce their tax revenue.

[CyNotes]

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

I don't know why government didn't believe to bitcoin. They don't get any money in bitcoin and they don't have any idea of bitcoin profit. Government want to balance and control the real money. Whatever they say about bitcoin, I don't want to believe them and I will believe mine own intuition and own beliefs.

[MahalQu2612]

The government still doesn't trust bitcoin because it can't get a hold of it, they cannot use bitcoin to do their bidding. Being decentralized is a huge no for the government that's why they don't like bitcoin, it's out of their reach. Bitcoin shuts their eyes and ears because of these. If only the government could realize what good bitcoin can do, maybe one day the government would open up to bitcoin.

[ReindeerOnMe]

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

And you think the government will let that to happen? No and people would not invest all of their money into digital currencies since it will not give them a certainty that these digital currencies will give them a good profit in time since we all know that it is so volatile. Governments are afraid not because of the fact that Bitcoin is anonymous but because of what people can do with its anonymity.

[Jose21]

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

The only reason I know on why government still against bitcoin is only about "TAX/TAXES". Why??  Because we all know that if one thing is concerns about earning money, government claims tax/taxes. Since bitcoin is concerns cryptocurrency and cryptocurrency can become a money, so bitcoin is also about earning money that is why government or against bitcoin because again Bitcoin has no tax.

[danwanyd]

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

The anonymity of bitcoin is not a bad thing to worry about, but a good thing to be protected. I believe that the digital currency community is doing important research and development work to achieve a cashless future world.

[chika2]

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.

[Dr.Nina]

Government all over the world do not trust BTC, Because most of the Government consider the BTC as a thread as their conventional currency. They think they cannot control BTC. But time will come when the Government compel to accept the BTC. Because the use of BTC and the popularity of BTC is increasing day by day. The multinational companies accept BTC. And time will come the volatility will reduce. SO, then the BTC will well accepted by all.

[melinda29]

If you have a network system that is directly a possible replacement for the current financial system or one day will ruin your grip and control, whether you will trust it in the first place. Bitcoin will encourage more money laundering because of the anonymity it provides. Ordinary people still do not understand Bitcoin and think of it as some kind of fraud.

[alvinmtp]

Its not that the governments is against bitcoin, it is actually the government being problematic about the taxes, since bitcoin has no relation or is neutral to a country the government does not cover any of it, which means the government wont have any benefits from it, and this is the reason or one of the reasons why governments and bitcoin does not cope up with each other, take note not all governments has illegalized bitcoin, as a matter of fact a lot of countries have gain trust with bitcoin and has legalized them for the good of the country.

[toast]

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

indeed many countries whose government forbids bitcoin accessible because we also know that bitcoin is a digital currency that has not been recognized by all countries in the world so there is still a lot of negative news that keep emerging so that many countries and governments do not trust

[Periodik]

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

Not all governments. There are several governments around the world that are truly supportive of the use of Bitcoin and cryptocurrencies. Japan for example is very much open to the use of crypto within their territory. Germany, France, Malta, Estonia, and several more other governments are also allowing Bitcoin in their countries. Of course there are also other countries that are still on the process of taking in Bitcoin.

[Sandijoee]

Each country has a government and some like bitcoin and some do not like bitcoin. Maybe I think the government does not like bitcoin can change the currency of their respective countries.

[Arata]

After so long since the appearance of bitcoin for the first time until now there are already some countries that legalize bitcoin. But in reality many countries have not put trust and have not legalized bitcoin. In my country, the government considers digital currency risky because of the absence of regulators or administrators governing the digital currency and also the digital currency is at risk with money laundering.

[Idaujotaite]

The government doesn't really trust Bitcoin because it's new and that cryptocurrency is basically untraceable. People use bitcoin for buying illegal items. That's why I think the government doesn't like bitcoin that much.

[jayarbillones]

for me 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.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.

[Max.junior1]

for me 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.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.

You are very right. Although there is no government recognition or policy to legalize crypto currencies, bitcoin users continue to grow and they use bitcoin as a medium of exchange or long-term investment.