Government fears Bitcoin

[nazaididuan1]

It is hard for a government to block bitcoin.

As long as there is a country in the world that does not prohibit BTC, BTC will exist!

The value of bitcoins and blockchains is also recognized worldwide!

The government stepped up regulation to avoid money laundering, illegal trading and fraud.

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[Msile]

Bitcoin and the crypto market in general has reached a point where it wont be easy for the governments to ban them straight up. As there is billions of dollars of institutional and public money on the line and I don't think governments will take the risk of causing such mass losses to its people.

[LindaFallar]

Yes, I agree on this. Government fears Bitcoin. Bitcoin is the biggest crypto world and the Government cannot control it. it is also decentralized. Beacause of this some Government are starting to ban Bitcoin in their respective countries.

[dekafee79]

Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.

“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.

It’s just my opinion about Bitcoin ban
What are your thoughts?

yes, I think it's right.bitcoin  transactions cannot be tracked. your identify is safe. it's the reason why the government fears bitcoin. the government worried bitcoin for crime. and they are also  worried that their currency is not growing.

[Crislyn4116]

Yes government scared about bitcoin because bitcoin have a potential to make a new currency and can destroy there own fiat money. Government says that bitcoin is scam. But they have some people scared about the news but the bitcoin believer says it is not a new news it is a fake news.

[rtyudg]

I think the biggest reason the government is concerned about Bitcoin is its inability to control Bitcoin. More precisely, there is no effective policy for Bitcoin. Once Bitcoin drops, all users who hold Bitcoin will decline their assets. Investors were robbed of wealth by whales, which is also a pain point of globalization.

[chillitabit]

Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.

“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.

It’s just my opinion about Bitcoin ban
What are your thoughts?

kind of it's true. Many governments fear bitcoin because it's threatening their centralization, however there surely are smart politics who understand the potential of crypto industry.

[yohananaomi]

Bitcoin and the crypto market in general has reached a point where it wont be easy for the governments to ban them straight up. As there is billions of dollars of institutional and public money on the line and I don't think governments will take the risk of causing such mass losses to its people.

may prohibit directly will greatly affect the people who have made the bitcoin of new livelihoods as well as the money that grows in it, but indeed the government must also maintain and ensure that it will be safe for the people. the situation is difficult to prohibit it but rather it only prohibits limited.

[otto2012]

Of course, they are afraid of losing control over cash flow and violence. But the fact is that they can not do anything bitcoin, because it is decentralized and does not belong to a specific party.

[damsix]

Crypto Currency is like a Sun powering up the people all around the globe who wants to change the world who are passionate enough to bring changes.

“It’s the top notch opportunity for reaching to the financial freedom”
That’s the reason some governments don’t approve Bitcoin because they already know the Strength of new decentralised digital currency market,if it goes up then the government will have to come down.

It’s just my opinion about Bitcoin ban
What are your thoughts?

I a gree with you.

because basically the government monopolizes the finances in an institution, so when there is new technology the government is anxious.

banknotes and metals can still be corrupt, but if the blockchain can not be corrupted and it is clear the TX ID is there to check the bitcoin it runs anywhere.

[oceantiger]

Yes, This is true because they can not control blockchain and that is why they will fight to kill it.

[Coffee135]

Of course, they are afraid of losing control over cash flow and violence. But the fact is that they can not do anything bitcoin, because it is decentralized and does not belong to a specific party.

Part of bitcoin in the world economy is very small. I doubt the government fears losing control of that small amount of money. They are concerned that they may lose control over people. The government can't lock your savings in bitcoin and it makes people independent. This is the biggest nightmare of any government.

[qyn0]

if you use bitcoin, you are trusting your money to a complex system you don’t understand, people you know nothing about, and an environment where you have no legal recourse. In the traditional world of investing, this would raise enough red flags to make it a bad idea. On the other hand, the European Central Bank reports that Bitcoin is just one of over 1000 digital currencies now in circulation around the world.

[okissabam]

Yes the governments may fear Bitcoin because of its capability and technology plus it could also give the financial freedom people are trying to achieve. But I think the governments are smart also to think that if they would ban Bitcoin and other cryptocurrencies, they will be blamed for the chaos it will imply and so I think in time they will also join the bandwagon and would soon create their own cryptocurrency or technology that would be opposite to these cryptocurrencies they just have not figured out yet on what they have to put up or create.

[Giftedcrypt]

Yes off course the government should fear bitcoin,simply because it's a decentralized digital currency, it brings power to the people, and they dont have a good how to regulate it,you and I know that every administration seek to regulate the inflow or out flow of cash, but with bitcoin,no way..

[bitfocus]

yes governments and central banking business hates and fears Bitcoin - also, almost P2P things.

[Iceblast]

the government is afraid of bitcoin is a natural thing because now the effects of bitcoin can be used as an influence to the world economy. the government should be wary of bitcoin if at any time bitcoin will beat the country's currency and make the value of a country's money is reduced.

[lhea056]

definitely yes because if people keep on using crypto currency the fiat currency might break down since less people will use it because nowadays people learn how to use bitcoin and most of payment today are all online so paper currency might cut its value since paper money users are decreasing and the probable cause is economy might break down that is why some country ban bitcoin it has big effect  how much more if more people choose crypto currency rather than paper money .

[iliev41]

the government is afraid of bitcoin is a natural thing because now the effects of bitcoin can be used as an influence to the world economy. the government should be wary of bitcoin if at any time bitcoin will beat the country's currency and make the value of a country's money is reduced.

Bitcoin claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.” That lack of central authority is the primary reason governments are afraid of the cryptocurrency.

[Joyeeta]

Gov should fear bitcoin, because soon or later bitcoin will take over the world in banking sector. Bank will be in trouble means Gov will be in trouble too. In that case politician also hate bitcoin, some of them talk against bitcoin but we common people love bitcoin.