Government and Bitcoin

[maxman190]

Bitcoin was conceived as a system of data exchange - crypto money, independent of the state (political power / territory). And such a system was really independent of the states of the whole world while bitcoin was not so popular.

[bmirror83]

They are in the process of the transforming laws and institution into the new digital era. They don't want give all the controls to the bitcoin right now, they just try to save their time.

[Minerall]

Governments want to keep the centralization of the currency in the form of banks and Bitcoin is totally an opposing entity that is why the governments are reluctant to trust the Bitcoin. But they will realize soon as people are getting awareness from every source about the bitcoin and other altcoins. 

[cavs23]

Government starting to do some actions to deal with bitcoin but in some countries they banned it in the fact that it is decentralized, they can not control bitcoin and collect taxes. They said bitcoin is illegal because government cannot get any tax from it and also media is on their side to manipulate the mindset of people.

[David Van]

It's because of issues with regards to bitcoin. There are so many issues about bitcoin that make a bad impression to other people. Some government thinks that it won't make the economy productive and will not help people.

[CarnagexD]

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

As far as i know, there are only few governments in the world that shows rejection and attempted to ban it. There are countries that allows the insertion of bitcoin in their marketing system. There are also international huge companies that start accepting bitcoin as payment, you can see the list of countries and companies that is now accepting bitcoin as payment in the internet. For those government that continues to dislike the system, perhaps they have their own reason, but let us hope that they will find the true value of bitcoin in their economy in the soonest time possible.

[Tuare aget]

Bitcoin was conceived as a system of data exchange - crypto money, independent of the state (political power / territory). And such a system was really independent of the states of the whole world while bitcoin was not so popular.

I dont really understand what your point above. Anyway there is no evidence that bitcoin will cause a country to become inflation, let alone make the national currency will be destroyed. As a cryptocurrency user you should have to understand which information is true of government opinion but we also know the advantages of bitcoin so the government need to know that.

[DimensionsOfHell]

in general, countries are afraid of digital currencies, although they understand that the prohibitions can not be saved. In many European countries like the Netherlands Bitcoin began to flourish blossom, but thanks to the tacit opposition of the state, many cafes stopped accepting this money. Quiet against the crypto-currencies and the European Union - remember how Estonia was recently banned from dealing with its own crypto currency with the formulation that in the EU countries there can be only one currency - the euro.

[LilCoronado]

Bitcoin is completely anonymous, so that means that they will not be able to take control over it

[stellaekun]

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

Most government of the world still do not encourage the use of bitcoin because they cannot fully control bitcoin they way they control fiats.The government is always weary of things that are beyond their control.Also they feel it will create a lot of tax loop holes of they encourage its use.

[electronus]

I am pleased with those states where the government is positive about the Crypto-currency. for example, the government of Great Britain decided to give a chance to digital currency to take a place in the economy of the Kingdom and is trying to find ways to regulate and establish control over the exchange of crypto-currencies, to create conditions for preventing the use of currency for illegal purposes

[arguelles84]

The sites that carried out the issue, exchange, storage and other operations with private money were not subject to banking legislation, and therefore were not subject to banking supervision. They did not conduct user identification - as a result, there were a lot of "dirty" money of criminal origin. Finally, no one was responsible for technical malfunctions or excessive emission of digital currencies.

[Ibrahim1337]

all country's are  not accept bitcoin.
Because they are not well educated in crypto currency.
thats the problem.
but day by day they understand the need of cryptocurrency

[kiumilo0o]

Bitcoin was born as a means to limit the control of traditional government and financial institutions. Indeed, the current dominance of the capitalization of the cryptocurriety market has been hindering the central government and central banks from operating their predatory-based economy.

[ripti]

Most of the county governments do not believe bitcoin. The governments of which do not believe Bitcoin, they think that Bitcoin is used in various types of terrorist activities. On the other hand, the governments that have been aware of the benefits and benefits of Bitcoin have accepted Bitcoin. Especially in the underdeveloped and developing countries, the government has not accepted Bitcoin.

[Liona88]

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.

[Sergio444]

Series of topics has been raised concerning this topic. do well to read extensively before posting such topics:
Anyway this are some reason;
1. its decentralized nature
2. Anonymous nature of the founder of bitcoin
3. Valuability
4. drawing more investors
5. Claim its used to fund terrorism

[satria stell black]

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

I think there are some countries whose governments have trusted Bitcoin. But there are more who do not believe in Bitcoin. The government does not trust Bitcoin for fear that Bitcoin has a bad impact on its citizens. Yes, we all know that Bitcoin can be used for illegal things. Surely this is very government concerned. Worried if the citizens use Bitcoin in illegal matters. So it is only natural that many governments do not believe in Bitcoin.

[Dorcolac]

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

Because it still has not proven itself as a trusted means to pay for something online. Yes, bitcoin as a currency is a great idea, it has blockchain to support it, which is a great platform all in general, but we have to understand also the fact that governments all over the world don't benefit yet from cryptos. Cause they are not taxable, yet. When they find a legislative way to tax it, then, and only then will they "trust" bitcoin and other cryptos.

[AT005]

Fiat is a term used to describe the conventional currencies that are issued by governments. Fiat  currencies have value because governments say that they do.

If bitcoin or another cryptocurrency become widely adopted, the entire banking system could become irrelevant. While this may sound like a wonderful concept in light of the recent behavior of the banking industry, there are two sides to every story. Without banks, who will you call when your mortgage payment gets hacked? How will you earn interest on your savings? Who will provide assistance when a transfer of assets fails or a technical glitch occurs?

These are the some reasons which is hindering a government to trust BTC.