Government and Bitcoin

[alexsandria]

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

One of the main reason could be because bitcoin is a decentralized currency , which means that not a single person or goverment can control it, this means that if the goverment cant control it, then the goverment wont deal with it since it gives them no benefit.

Yes, one of the feature of bitcoin is its being decentralized which means nobody control it even the government. I think it is one of the reasons why the government do not want to fully legalized the bitcoin.

[anitaraymonds]

Government will always want to control any institution and any institution that government can not control they will destroy such. Bitcoin is decentralized and can not compromise that.

[bstewart]

The real question is, who cares? And why does it even matter?

Cryptocurrency wasn't created to gain government and bank approval.

It was created to liberate us from said institutions.

[MNTCorp]

First of all, it's "green" marketplace, and there is no regulation right now. It is liquid very much and it is difficult to handle with it.
And of course, governments is afraid of anonymity, that is why, they are doing as they can to remove that anonymity. Bank system is very useful for government, but not for consumers, that is why, it will take some time to get used to blockchain, in general, and set up it for government requirements.

[Dondisimo]

This topic is 3 years old. I think that it will take at least another 5-7 years and the situation will not change. Governments will try to restrict and regulate cryptocurrencies in a variety of ways.

[chara78]

The reason the government does not trust Bitcoin is because the Government still trusts Fiat currency, because fiat currency has value, while digital currency has a value that is up and down and unstable.

[dillpicklechips]

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

I think government can't accept or trust bitcoin becayse it is still new or developing there are lot of things to improve or polish to avoid unnecessary things. And the reason why they are afraid that bitcoin will replace the old system like central banks and government don't have any benefits can get on this system because it is decentralized no one can manipulate or control it.

[reynilynedago]

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

Maybe because bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin. Hopefully in the near time many countries will legalize bitcoin because it is one means of generating revenue when it is being taxed and its a big help to the economy. Lot of people now are engage with it so high possibility of higher percentage of revenue is being collected.

[EEEian]

The government's want their money and they will do everything to make sure they get it.And in the end there is actualy no reason for me to want it in cash besides evading tax.If I want a car why not just transfer the money for example? And besides if I want to buy a car above 10.000,car companies are lawfully obliged to report that with the government. Because who in their right mind would walk around with 10 grand cash to buy a car?.I already knew how it worked a bit before I tried to get my cash,but I didn't expect to get the: "so you want to try and evade tax you little bitch" treatment.

[kiumilo0o]

If more and more people use Bitcoin, the network of this currency will be expanded. However, it will also change the way people view it, as it is now seen as a tool for drug traffickers and money launderers. So accepting this currency around the world means that it will cause problems for corrupt officials.

[Rebisco]

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

In my country, the bitcoin is now becoming more popular after the government fully legalized bitcoin. I know that many citizen in my country will buy and use bitcoin because they know that they freely to use and they are safe to use bitcoins. Our government created regulations about virtual currency to protect its citizens.

[Altf4]

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

In my country, the bitcoin is now becoming more popular after the government fully legalized bitcoin. I know that many citizen in my country will buy and use bitcoin because they know that they freely to use and they are safe to use bitcoins. Our government created regulations about virtual currency to protect its citizens.

Not all government but there are some government slowly adopting or legallizing bitcoin circulation in their country, but other government still does not allow bitcoin to be legal because , if bitcoin will have the chance to be legal in certain country, the government would make provisions and laws on controlling and monitoring the circulations of bitcoin in case there would be problem will arise concerning the bitcoin transactions, so there would an agreement between government and bitcoin parties for legality.

[MakLampir]

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.

[buternasek]

really, there are some countries that have banned the release of bitcoin, and some even prohibit it. it's because bitcoin is often used for crime or criminals, such as drug trafficking, and others. they use bitcoin because the transfer is very easy and fast.

[Bitlife81]

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.

[Labajah]

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

it is good that government all over the world still doesn’t trust bitcoin. if a government starts to trust bitcoin, it will start making some regulations and will start taxing bitcoin.

[balancesheets101]

Because governments dictate currencies and how they transfer from bank to bank and monitor the movement which they can locate at see who profits in it as well as collect taxes which they have the ultimate control. The government does not control bitcoin.

[Nanot]

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

We all know that bitcoin was the most expensive digital currency but when it termsof government thier is a big differences...because when govern ment was able to deal with bitcoin it cause an impact of change as well as in terms of financial assistant and system so that many government did not isue of bitcoin mostly the country who has a low currency price.

[ajoygb]

I think Bitcoin is a big help in government because of its features  and it is easy to trace transactions .

[yarohim]

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

I think, the government should accept bitcoin or create a new crypto. because the crypto is the future technology. it will be needed in the future.