why should governments allow bitcoin to continue grow?

[justyourkuya]

Governments are already making some remarks with regards to bitcoin. In fact, local monetary regulators have started to take notice of the existing cryptocurrencies. Undeniably, bitcoin has made great deal in business transactions. The demand for suitable virtual currency is real, bitcoin is a digital currency so it cannot be counterfeited. Bitcoin can make a better digital transactions , payment methods, and financial system beneficial for all.

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[Ashong Salonga]

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 main reason I see is that bitcoin can somehow help the economy of a country to build up because we all know that many people are starting to earn bitcoi  so that they have a lot of many and bitcoin doesn't have any tax so people actually getting all it earnings without expenses. And this bitcoin somehow can bring a big changes to economy of a country.

[Sanugarid]

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

Because bitcoin manage to give us the  earnings or income we believe tgat would help us. And if the government help the bitcoin to grow it will somehow have some positive effects on the economy of the country. Bitcoin is a good move for me because it able to give you full income without getting some taxes.

[pushups44]

The issue is that there is no way to stop bitcoin at this point, as it is at a point of no return. No single government can simply prevent its use. People will trade it regardless. As it is decentralized, there is no way to technologically suppress it. Bitcoin is here to stay, whether the elites like it or not.

[GreenBits]

well at first, there really wasnt an incentive to go after bitcoin.

pretty sure bitcoin blipped on the govs radar about the same time Gox became a real thing. Im talking sub 20, btw. at this point, it would have taken more money than it was worth to try and police the sphere; for the most part there was no real eco sphere, just a large community of really enthusiastic participants. now, with coin prices so high and so much value created, there is a real danger of funds being misused (money laundering and criminal activities). notice how much we have been hearing FUD wise since we broke 6k. its some of the same that shrunk the bubble on the China rumors.

[yndye]

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

The blockchain technology behind it has a big impact in the future transactions. Bitcoin has been one of the alternative payment option or store of value for some people now and the government can see that they can't really control the flow of transactions since it is decentralized so instead of banning it, they would just join it and have some share of the transactions through tax. Besides, the government can also benefit from the fiat transactions done by those who are earning bitcoin. Those people who have no job are able to find way to have income which can help in the circulation of money and businesses as well.

[decoder88]

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 also disagree because we all know tgat bitcoin is decentalized yet it doesn't have any people or organizations who holds it. I think if the government has the access to hold it they will somehow change and soonly break ehat are the best things about bitcoin. Our government here in our country are having some uneccesary moves that put them in dangerous situations.

[UrsoNomato]

Every government should be interested in the "bitcoin" currency, not only in it, but in all other countries, a prohibition that would not be feasible for them, even though the government of several countries certainly thinks of using the currency for its own purpose. They want to use bitcoin

[MMS2017]

When government allows ant thing that is accepted worldwide and that is trustworthy for the whole country if the bitcoin is allowed by country to accept it for each transaction. It is also good for government to allow this currency because through this the life style of the people wills good people will donate this money to trust hospital etc.

[layoutph]

Nice answer, yup true. Even government cant fight Bitcoin as some from them has a huge bags of it. Instead of fighting I heard rumors of Russia, and China from creating their own crypto. This is the start of having a world with a cashless society.

There can be a lot of reasons. If they would outlaw Bitcoin, it would just be moved to the deep web and it will become much harder to monitor transactions and crackdown on criminals who use it for illegal operations. When Bitcoin is legal governments can just work with exchanges and other services if they need to investigate something. Bitcoin is not much different from cash - sure governments can't print more Bitcoins, but they can print more fiat and buy BTC with it. It's very likely that in the future governments and banks would adapt to Bitcoin instead of fighting it.

[dieselmeister]

simple thing. they can't stop bitcoin or control it. people still use it even they do everything to block it. so the best thing they can do is accept bitcoin and control by tax or something

[fishbonez11]

There can be a lot of reasons. If they would outlaw Bitcoin, it would just be moved to the deep web and it will become much harder to monitor transactions and crackdown on criminals who use it for illegal operations. When Bitcoin is legal governments can just work with exchanges and other services if they need to investigate something. Bitcoin is not much different from cash - sure governments can't print more Bitcoins, but they can print more fiat and buy BTC with it. It's very likely that in the future governments and banks would adapt to Bitcoin instead of fighting it.

I agree with you, it would be much better to recognize bitcoin and put regulations on it compared to having it used for underground illegal operations. Bitcoin will keep its nature but it is the transactions that would be regulated. Like how the government do not limit us into how much money we can earn and keep, but they prohibit into using it to illegal things.

[Lorilikes]

Well, for starters, if the governments of the world want their enormous debts to ever be repaid they must intervene and somehow get a piece of the pie or Guaranteed they will lose all hopes of recovering bad debts in the form of taxes and national debts.  I am not saying I agree with the governments need to monitor and control money, it's just ... if that was the goal, they need to hop on the crypto train or lose all their power.

[Sand King]

They shouldn't 'allow' they don't have a hand in Bitcoin. They should embrace it but certainly not allow.

Goverment should allow bitcoin to continue grow, because bitcoin is helping many people, like under graduate people, house wife, and students. Bitcoin help them in financial problem and houses expenses and for tuition fee of student like me, bitcoin is good for people and its not doing bad to people so goverment should allow bitcoin to grown so bitcoin have a chance to help many more people.

[Kita Kita]

They shouldn't 'allow' they don't have a hand in Bitcoin. They should embrace it but certainly not allow.

For me goverment should allow bitcoin to continue grow because bitcoin is not doing anything wrong, and bitcoin is not wrecking goverment law so it should allow bitcoin to continue grow, and bitcoin is helping many people, bitcoin is reducing unemployed people so its good for all people who are doing bitcoin, it should allow because it will help more people particular for those people who are poor and for people who are unemployed.

[rrtg]

The government must allow the bitcoin to grow because of this many users this is one of the kind of their nature of business or where they earn money. Bitcoin help us in financial problem.

[Ewinsane]

Bitcoin can help the economy and can reduce poverty someday. There will be more businesses, traders, investors and opportunities for everyone to get involved. Because they apply the rules for exchange, millions of taxes can also be collected if the government allows Bitcoin to continue growing as the community might support and invest in Bitcoin, I see no reason to have any problems or conflicts with it. Whenever we withdraw our funds in the local exchange, there is a tax, so that's why they need to let Bitcoin grow and thrive

I think it will not be bad when bitcoin and government go parallel to each other. Government can get benefit from bitcoin business if government recognize bitcoin a legal currency in the country and impose taxes on exchanges.

In this way more people will move towards bitcoin and business in the exchanges will also grow and this will be a direct income for government respect to collecting taxes from exchanges. Government must have to think seriously about this.

[tengek37]

Because I think if the government makes regulations about bitcoin transactions and impose taxes in it, then the country will get a lot of revenue from there that can be used for the development of the country to be more advanced again.

[swordling143]

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

Governments should allow bitcoin to grow simply because there is nothing illegal about it in the first place. It is like a form of online money, which is really helpful for transactions. Perhaps one of the reason that they don't want it is because it has no physical form which they can hold onto.

[Coldsnap4457]

They don't have a choice.

They cannot stop it from growing.