why should governments allow bitcoin to continue grow?

[Pansamantala]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Yes all goverment must legalize this bitcoin becuase this is our future money.

[EddyGameta]

a lot of speculations here, but I agree with an opinion saying that the government let and legalize Bitcoin because it wants to facilitate the monitoring of transaction that occur rather than transactions occur in black market which is more difficult to control its existence.

[BITDV]

maybe because they want to learn and apply bitcoin on their financial and economic systems later, they want to see the stability of blockchain and cryptocoin before they implement them in the system later. they have the power of Bitcoin and they will master it better if they learn it well and also make a competitor to compete with Bitcoin's power.

[Phildo]

because there is nothing wrong with Bitcoin, this is a real currency and it goes very well. the government also has no choice, Bitcoin is a decentralized currency that will grow whether governments want it or not. many countries have accepted Bitcoin and the government seems doesn’t to want to get left behind this technology.

[sublime5447]

Cryptocurrencies, especially Bitcoin as the pioneer, have created many innovations and we all know that innovation brings both business and employment opportunities. this new job gives the income for people who work in it and they who use their money, the economy will be triggered and bring in taxes from the transaction they make with the money from bitcoin.

[Barcode_]

I don't think there is any government in this world that would allow their citizens to transact huge amount of money without any control, more and more countries are starting to take note of bitcoin and I believe there will be more country announcing their plan to regulate bitcoin and crypto-currencies exchanges that operates in their country.

[Triple]

Cryptocurrencies, especially Bitcoin as the pioneer, have created many innovations and we all know that innovation brings both business and employment opportunities. this new job gives the income for people who work in it and they who use their money, the economy will be triggered and bring in taxes from the transaction they make with the money from bitcoin.

yes, this industry will drive the local industry and economy. especially when many stores and merchants have accepted Bitcoin as their payment, but it can also trigger the growth in tourism sector. people also become financially free and can pay their needs without government help and they can also help their neighbors either by raising their economic level like opening job vacancies or donating to a foundations or charity organizations.

[rfcdejong]

It seems to me that some governments are afraid of bitcoin, this is due to the loss of power over the circulation of funds in the country. Because of this, the government exerts pressure. But states that will have taken Bitcoin and Crypto-Currency will are in a win, because this is the future. Also a government can try to correct the financial situation in the country if it allows the crypto currency.

[Rj Manik]

The government of some countries thinks that if virtual currency is given more priority then its policy on the payment currency will have an effect.The use of public on the main currency will be reduced.So they used to adopt any other currency as a legal offense.But, If they give permission to use bitcoin direct then all public use bitcoin.and increase bitcoin demand and continue grow.

[Gameroid]

The government of some countries thinks that if virtual currency is given more priority then its policy on the payment currency will have an effect.The use of public on the main currency will be reduced.So they used to adopt any other currency as a legal offense.But, If they give permission to use bitcoin direct then all public use bitcoin.and increase bitcoin demand and continue grow.

In fact in present time most of the countries are still not aware from the importance of bitcoin. i think that with the passage of time as soon as bitcoin will become more populars its importance is also increasing from time to time, therefore i can say that such government will also understand the importance of bitcoin and will surely consider it as legal currency.

[subSTRATA]

The truth is if the government will be involved, the whole decentralised thing about bitcoin will be nonsense.
The government will surely take away the anonymity for it will be needing legal basis for transactions. The main third party that the bitcoin is against is the government itself because of high fees. So literally, if bitcoin is just like another currency, the only characteristic that it can be popular of is its volality, and it's access in the internet. When it comes to use, both fiat and bitcoin will have fees and not profitable anymore. ( worst case I can think of )

just the fact that the government is involved does not necessarily result in decentralization;  the very nature and structure of bitcoin keeps it from being centralized without massive resources being dedicated towards control, for example, the 51% attack. unless a government specifically aims to control bitcoin and is willing to dedicate ample resources to this effort, this will never happen.

The government of some countries thinks that if virtual currency is given more priority then its policy on the payment currency will have an effect.The use of public on the main currency will be reduced.So they used to adopt any other currency as a legal offense.But, If they give permission to use bitcoin direct then all public use bitcoin.and increase bitcoin demand and continue grow.

In fact in present time most of the countries are still not aware from the importance of bitcoin. i think that with the passage of time as soon as bitcoin will become more populars its importance is also increasing from time to time, therefore i can say that such government will also understand the importance of bitcoin and will surely consider it as legal currency.

most major countries are starting to however. we can see major countries and nations that are leading in technology coming forth with their decisions on bitcoin in the recent weeks (china, korea, japan), and it can reasonably be expected that others will soon follow. i dont expect it to be long before we see which countries will come forth and we should be able to judge where bitcoin will develop and be adopted.

[francedeni]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Yes all goverment must legalize this bitcoin becuase this is our future money.

Government should allow bitcoin to continue to grow because there will be an affect to all people who uses bitcoin. Because bitcoin is helping a lot to those jobless as we all know bitcoin offer opportunity to people willin to earn income online. And I think there will be an adoption in the upcoming years, bitcoin has a lot of features to all not only to users but also to the government.

[Agamemnus]

Sorry to break it to you but governments are useless third parties and are unnecessary when making transactions. Now we can just trust the blockchain and not third parties.

[Restmand]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

I think the reason why the government allows the bitcoin to grow much more is that someday or in the upcoming years its possible that Bitcoin will become the center of the currency in the world. Now that it become much more bigger and famous now it has now gaining some good reputation so there is really a possibility of Bitcoin bexoming the center of currency that the government will try to put some law in using Bitcoin.

[ajmapalo22]

The government must see the opportunity given by bitcoin to a lot of people, with this new innovation everyone has given equal chance to earn additional income and if government will allow bitcoin to grow many people will benefit and the country's economy will also grow. Government must stop prioritizing having the control over money they must look for the welfare of their people.

[iamMhew]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

every country or government has their own law about this bitcoin, if every government wants to continue to grow this bitcoin, theres a possibilities that they can take over the privacy of our bitcoin, and they implement some taxes if that happen, they want to earn also on this bitcoin by doing some services on their own country to manipulate bitcoin from their country bitcoin users.

[erickkyut]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Not all governments are pro Bitcoin. Sime of them are against it. For those countries that accept Bitcoin, I think they saw the potential benefit they can have from it if they will adapt it. Even though they have no control over it, they are happr to see that their citizens are earning from it and they have to opportunity to improve their lifestyle.

[mukeymon]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

Bitcoin is difficult to control especially transactions that are anonymous. The government can not control illegal money transfers and it is unlikely that those who are using or own it.

[Malsetid]

Governments of course won't be too easy on this because of security concerns that crypto present. If it's just for the convenience of the people, then bitcoin would do a very good job in doing this but governments would have to consider the frauds, scams, drug trade, terror activities. There's a lot to consider so there would have to be thorough study to make sure these are addresses before it allows bitcoin to grow into national acceptance

[Dudeperfect]

I completely agree with the fact that governments are willing to control the wealth and economy of the country so ideally, it would be an irony to legalize the technologies like Bitcoin which is based on the principle of decentralisation that challenges the role of one central authority.

However, in my opinion, the most common reason for the governments to allow Bitcoin is monitoring the flow of wealth in cryptocurrencies. Let's be honest, we are ready to pay our taxes but we don't want anyone to control our funds and by legalizing Bitcoin or cryptocurrencies, governments can build a model where it can monitor the crypto world by permitting domestic and foreign exchanges to maintain KYC records of the account holders.

In case of a ban, there will be a huge trouble for the governments because in that case, it will promote black market as anyone can use Bitcoin anywhere in the world through VPN and to avoid this mess, governments should allow Bitcoin.