Government and Bitcoin

[IsabelCornd]

It's very difficult for any govrnment to control bicoin so they used to ban it. I can't get any reason to ban currency that can be helpful for citizens and countries economy.

[Hairpin]

Governments should seriously consider legalizing cryptocurrencies as methods of payment in order to encourage their wider use for transactions, increased security and ultimately, recognition at a universal level. It is vital that the government adapts to the signs of the times.

[prediction on bush]

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

I think why government still doesn't trust bitcoin is because until now they can't control bitcoin and they are  thinking bitcoin is illegal and also they don't understand how to use it.

[DoublerHunter]

Some government has its own reason why they still dont trust bitcoin.Bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin.In the near future many countries will legalize bitcoin because it is one means of generating revenue and taxes.

They can regulate it, all of the government have the power to regulate bitcoin because they just need to create a law that will describe all of the things that the people or the bitcoin user should follow in order to stay safe and not to get arrested because most of the countries and government are regulating bitcoin like that so it is a best option to just regulate it and accept it.

[cryptotrader15]

some of them have no idea what bitcoin is and what are the benefits of blockchain technology is and some of them fully understand what it is and what are the demerits of this technology ( like money laundering)

[wilburwilbur]

Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence.
Control over currency has many downstream impacts, perhaps most notably to a nation’s fiscal policy, business environment, and efforts to control crime

[alvinmtp]

Because there are so many loopholes in the working of Bitcoin which is preventing the government from trusting it. The anonymous nature of cryptocurrencies enables it to be used for illegal purposes like purchase and sale of prohibited weapons or drugs. Although virtual currencies reduce the chances of money laundering activities, it is proving more useful for cybercrimes. A report published by the UK Treasury on monetary policy says that virtual or digital currencies can facilitate methodologies of “crime-as-a-service” and provide a platform for laundering advances of cybercrimes which can increase the chances of crime.

[Zanneti]

I do not know exactly but not all governments forbid to use bitcoin, even according to the issue there is also a government that buys bitcoin for assets.

[serverus]

We all know that there are countries that banned this bitcoin for its price rises every now and then. Rising of bitcoin currency leads to an imbalance economy of every country. In line with this, government must take action regarding this matter. If this bitcoin currency make it to the top, other investors will not invest in companies anymore, no more investments in small franchise that will lead to an imbalance economy. People will invest more in bitcoin, who would not invest if money here is easy and convenient.

[Tukang Becak]

If the government and bitcoin synergize then it can be certain that can overcome various problems mainly is a transaction problem so that it becomes faster and cheaper, I am sure that bitcoin is the future of global transactions.

[killat]

I think Japan is setting an example in every way on how countries should appreciate cryptocurrencies in its legal framework. In times when most of the policymakers are skeptical about the potential of cryptocurrency and some even considering it as a threat, Japan with all its swag is embracing cryptocurrencies wholeheartedly and Yahoo setting up a cryptocurrency exchange is just another example of that.

[doodle07]

It would be great if government and bitcoin will work as one, it will be more easy to us to pay transactions and will be cheaper, we will be independent in foe some payment because we do not need third party or person to do the transactions. It would be a better and brighter future for us if this would happen.

[superman99]

Currently many countries in the world do not have enough legal and legal corridors to manage bitcoin so the government also banned, circulated

[hacking13]

 Basically, government are not benefiting from Bitcoin that's why they don't like it. Anything that isn't approved by the government wont be supported by the government. Most government don't like Bitcoin or its operations because they don't know how it came about, they haven't found a way to enact strict laws and how to make people pay tax.

[Moore_Charles]

The government in my country does not accept Bitcoin in the market legally, many are participating in discussions on many forums looking for ways to overcome.

[genlocy]

Government can't control bitcoin like bank.But many country government accept bitcoin.

[faizzeybutt786]

many counrtries government are try to crash the bitcoin market specially intellignce companies because its effect the currency of governmnet or market value .i dnt think so it can be easy to shut the bitcoin market because many government officers or business man are involved in it.

[cutecute]

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

I think our government didn't trust bitcoin because they believe that there's a chance that bitcoin can replace our real money or can make our bank disappear. Others said that government will accept only bitcoin when it's have a tax because they said that they wanted to put a tax on it.

[yaghoniyu]

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

The government should accepts or legalize bitcoin. Because it is crypto currency, the future technology. The reason why the government all over the world still doesnot trust bitcoin, because the government cannot controll bitcoin over.

[Khammurr]

Hey

I know that governments are always bringing up the fears of the use of Crypto such as not being able to track who is making transactions or what is being bought with some Cryptos such as BTC around the world. Wouldn't initiatives such as governments offering coin users rewards for valuable information on who are the people involved in criminal activities which are funded by BTC or other Cryptos?

The problem of them not being able to make their own unjustifiable profits from transaction fees etc is a hurdle that they'll have to get over as Crypto exchange across the world gets bigger.

In the eventual showdown between Government and Crypto, which one will come out on top of the other or can they somehow learn to coexist?