Government and Bitcoin

[Hallmader]

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

Because the people in the government are so busy keeping their pockets full that they miss to keep themselves informed of the new developments in the world. I am appalled that a lot of the people in the banking sector, in the government, in the central banks, and other relevant agencies of the government are fully ignorant of Bitcoin or cryptocurrency. This somehow affects the image of crypto in their country or it keeps it hanging.

[RealMean55]

The battle between Bitcoins and the government has been here for period of time, This is one that will determine the fate of BTC as if its lost,there will be alot of regulations on it, hopefully an amicus agreement will be reached  at that benefits both parties.

[bmirror83]

It is not about trust, they don't like things they can't control. They cannot have control over bitcoin for now but if they can find a way to do that the transition would be more rapid for sure.

[mix max]

I think this is because there is no agreement and one understanding between the way the government works with bitcoin work. If each other is able to adapt, then both will complement each other. it's just a matter of time.

[Coinlover9]

Well it will take time for them to gel together

[Moonbill]

Yes, the bitcoin and government battle has been around for a long time, because they are afraid of losing their currency and they can not control it and the bitcoin has a bad reputation in view of it's fraud, but I think the bitcoin should be moderately moderated so that the government would not be too proprietary to eliminate some negative things.

[fire rab1]

Bitcoin offers an alternative to the conventional, state-sanctioned banking system. Maybe that's why powerful institutions are so wary of it.

[MaryKiTy22]

I think if the governor would soon accept the bitcoin for its deal, there are already some countries that accept the bitcoin deal because they have also put in place the legal framework for digital money to work in. The extent to which they can be controlled somewhat

[Df9898]

I think the Government's relationship with bitcoin later this is rather bad because a lot of bad people who use bitcoin to store the proceeds of crime in the bitcoin and this makes government and bitcoin have a little trouble.

[lelahkenabanned]

I think the current government still does not agree and does not provide ratification about the circulation of bitcoin because I think bitcoin can not be trusted by the government, and it seems the government wants to try to ask for the results of the benefits of bitcoin when it is clearly not going to be so that the government does not like it.

[Farhan786]

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

Governments can come up with regulations to govern the cryptocurrency sphere, although some bitcoin enthusiasts say that this can destroy the viability of the system.there is no asset backing the value of bitcoin. The cryptocurrency’s value is simply determined by supply and demand.it is the decentralized nature of bitcoin that gives it a higher potential for more secure transactions.

[maloibtc]

Many do not notice this, but now there is an invisible war between the state  and Bitcoin. Those who deal with crypto-currencies have gone head over into their problems and news about them.

[Boknoyz]

The 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.

[stely41]

The 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.

In 2017, Japan’s Financial Services Agency confirmed that Bitcoin and several cryptocurrencies would be “legally accepted as means of payment” in the country. Other countries have even launched national cryptocurrencies to compete with Bitcoin, like Israel’s “Digital Shektel,” Venezuela’s “Petro,” and Russia’s upcoming “CryptoRubles.”

[olatslodi]

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. 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.

[haloobabaa]

Because the government thinks bitcoin will disrupt the economy and the government thinks they can not control the bitcoin so that's why. But if the government that legalizes bitcoin I do not think it will think that way.

[Traslavin]

The 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.

This is the one main reason I guess why bitcoin is not legally adopted by so many countries. Each countries or nations has it's own policies and regulations which they are implementing inside their whole nation. In this case that's why they have their own different outlook towards the potential of bitcoin. And we couldn't read the mind of their leaders that's why the main conflict today in bitcoin is the government.

[HiringYou]

No doubt Bitcoin have a lot of advantages but it also have some disadvantages too which are forcing governments to not trust it.As Bitcoin is decentralized in nature which means that no government has a control over it.This makes the Bitcoin transactions anonymous in nature and the government is not able to identify the people involved in the transactions.Due to this feature of anonymous transactions, some people uses Bitcoin as a mode of payment in the illegal dealings of drugs,ammunitions etc.Due to these reasons government is not able to trust Bitcoin and that is why they are not supporing it and are banning Bitcoin in their respective countries

[Mr.John19]

Truly, as of recently some state or government against on this new generation of bitcoin. They don't believe the bitcoin because they don't get benefits on that. Bitcoin isn't assessable, and they can't follow which individual is getting rich with the assistance of the bitcoin. In any case, not all nations despise the bitcoin. A few states comprehend the capability of the bitcoin. Every holder of the bitcoin or altcoin enables their self to be liberated and mysterious without require by the outsider.

[cryptopartyz]

because bitcoin is a threat for them...