Government and Bitcoin

[muhammedb]

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

It because they don't still trust or understand bitcoin
But the fate is that if you view it from the order side you will understand each country government are trying to protect there economy because if they should accept or legalized bitcoin it will really affect the economy of the the country, because many people will no longer value there local currency.

[ordeath]

I believe this has few reasons behind, one of them can be fear of unknown and lack of knowledge about market at all

[tramadol12]

Politicians screw their citizens with taxes, jails and spying on them. They screw each other with lies and scandals. They screw the economy with over spending. They screw their fiat by printing too much of it. 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. BItcoin and the cryptocurrency are based on the decentralized system and therefore, we can not expect the government to accept it as a tradition currency

[votuan1990]

Because there are so many ico scam, the government wants to protect their investors,It's good to have a quality appraisal agency, where project developers register and take responsibility with what they do

[KevinHD]

It's simply because Bitcoin has too many risk to be accepted in global market, and it is originally made only as a fiat or currency in technology for easier transactions, meaning that if Bitcoin was accepted, its price will and should have a stable value for worldwide same exchange.

[BeNBeNfdnzm]

It is sad to recognize the members of the community crypto currency, but the authorities of many countries of the world negatively regard the fact that their citizens use digital money.

[Sam San]

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

Government dont trust on cryptocurrency like bitcoin because they can not control it. Bitcoin can impact on bank bussiness and thats why central banks wont let bitcoin for payment.
Central banks so far have privelege to print money without proper audit and with bitcoin they can not do that any more because bitcoin have limited supply and no one authorities can control the supply

governments will increasingly require organizations working with bitcoin to have each of their suppliers pass through KYC, thus moving to the taxation of these operations.

[yusupjatigumilar]

because a lot of bad news that befell bitcoin, almost every day there is always bad news about bitcoin and other cryptocurrencies, this is certainly very influential on public confidence in bitcoin, maybe that's one reason why the government does not trust bitcoin

[azisdoank]

i think government has its own reason why they still dont trust bitcoin. Maybe because bitcoin is anonymous and government cannot regulate bitcoin that is why lot still dont legalize bitcoin and the government is finding it hard to put a stand where the government and the cryptoworld will have the same advantage, maybe they see that cryptocurrency is gonna be a problem to the government when it becomes widely used by the people. Accepting these new technologies has been creating a huge diferrence in the world

[superstarbtc]

Government and Bitcoin we should write a book which makes government wake up on this topic both have an invincible line they cant agree bitcoin to be legal tender

[DainSLane]

Its is hard to them to trust it's other in this kind of situition the government cannot get more taxes from bitcoin it is because bitcoin is digital currency and anonymous, bitcoin advantage is the price is high and easy to transact online business.

[liseff3]

To this day, the debate over the virtual currency continues to emerge amid the skyrocketing bitcoin trend.

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

I don't think that belief or unbelief, is the point of all the problems that have occurred so far they initially worried because there's no escort of centralized authority then their sense of concern is widespread, which include:

Bitcoin makes the process of real trading transactions much more difficult,
Bitcoin inhibits economic growth for banks or countries,
Bitcoin, is filled with intrigue manipulation of greed,
Bitcoin, is a medium of financial experimentation,
Bitcoin, is not regulated by the authorities.

[soplo]

if discussing the development of bitcoin is already a lot of people who know how the system learn and get it but in my country which is a barrier is the government and this happens many other countries are still many countries that prohibit the development of bitcoin but there are also countries that legalize the existence of bitcoin and make bitcoin as a source income is also an online transaction

[Roksodhon]

Bitcoin is anonymous and government cannot regulate bitcoin that is why many  still don't legalize bitcoin. Government wants to control the people & control their money but bitcoin is not easy to control. But In fact, bitcoin is not a criminal or it can be harmful to those who use it and really bitcoin greatly helps our life get better.

[pxo.011]

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

in my opinion because they dont collect any taxes by bitcoin, government salary is from the people taxes. what happen if there is nothing to collect they dont get richer they are pig.

[lehuong]

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

Bitcoins always want to be accepted by the government and legitimized bitcoins that want to be properly circulated and protected like paper money or gold jewelery. bitcoin want to people believe and invest more.

[josephpogi]

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

For me There are a lot of reasons. For example there isn't asset backing the value of bitcoin. The cryptocurrency’s value is simply determined by supply and demand, unlike fiat currencies which are based on gold or other precious metals.

[todayin]

When you have a network system that is directly a possible replacement to the current financial system or will it one day ruin the grip and control you have, would you trust it in the first place? In fact I should change the word to threat to be more precise. Governments generally won't endorse or accept bitcoin for that matter and they will do anything to prevent that from happening.

this makes sense . bitcoin absorbs a lot of wealth . bitcoin can be freely circulated around the world . the government cannot control it . in fact , the wealth that the government can control is decreasing , because of bitcoin .

[Kita Kita]

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

Well i think until now some goverment still doesn't trust bitcoin because they still dont know the real function and the real benefits people can get from bitcoin, but maybe in the future all goverments all over the world will accept and trust bitcoin.

[CryptoLoverz]

I think because the government really does not understand about bitcoin. perhaps the government also thinks that bitcoin will be more dominantly used as something criminal. money laundering and some scammers use bitcoin as payment so bitcoin can be one they think is bad. and it happens that they plan to hate bitcoin because they think it's wrong or illegal. I think that there must be something negative and positive. But when the government judges positively and knows about something good from bitcoin and they understand if with bitcoin many people can work to get money and security in transacting with bitcoin. maybe the government will soon legalize bitcoin.