Government fears Bitcoin

[Giftedcrypt]

Yes! Any government should fear bitcoin, if not for anything,atleast for its decentralized system, but I know for sure that they will one day embrace bitcoin and blockchain technology..

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[akmittal]

governments fear with the Bitcoin due to two reasons, one is that governments do not have control on Bitcoin and other is that Bitcoin is attracting world wide investment and their share market is not getting the investment.

[Dudeperfect]

As we all know that governments are greedy for the control, they want to control almost everything in our life. On the other hand, Bitcoin is something that relies on the power of decentralization that takes away control from the centralized authorities and transfers it to the users. In that case, governments can do nothing in case of crypto to crypto transactions but they can restrict the fiat to crypto trade through the banking system. It won't affect anything in the long run.

[roshanface123]

The government think that all the illegal and criminal activities base is bitcoin because it is world wide acceptability and easy transaction. And also they afraid that bitcoin may destroy the entire banking sector of their countries. Sometime it may because of they can't restrict and control on their needs.

[cutikanzilong]

in my opinion the underlying government forbids the use of bitcoin is they consider the bitcoin as hacker and unofficial currency that has a fluctuating nature and bitcoin is not taxed. Therefore the government does not want to legalize bitcoin because they consider bitcoin will disrupt economic stability in the local country.

[ArtVal]

In addition, we can see what is going on in countries that do not produce anything. Countries like Russia will be much more afraid than others.

[orarider]

right. Many countries are worried that bitcoin will affect economic development. Bitcoins can make it difficult for the national currency system. It can overwhelm the national currency. So many countries like China, India, India have inhibited the development of copper bitcoin. They forbid bitcoin to work.

[adzino]

The government likes to control everything. They like to have power over everything that exists so they can use it for their own advantage. Bitcoin is completely decentralized. No one is the sole authority of Bitcoin. Even the government can't take control  over it if they want for which they hate Bitcoin.

[cryp24x]

I wouldn't call that fear, they have nothing to feae about. But what all governments want is to have everything under control, especialy over something that can influence the economy. The problem with Bitcoin and other cryptocurrencies is lack of control mechanisms. With possibilities to control Bitcoin governments would also have the possibilities to use it for their own purposes.

I think it has something to do with "everything under their control" and they can get something out of it because Bitcoin is a large source of income at the expense of nothing on their part. We have to pay taxes and they will surely agree on whatever is happening about Bitcoin as long as they get what they want.

[Blessed J]

The Cryptoworld is structured in such a way that transactions are done between two parties without a third party which is the banks.  What the government's want is to bring everything under their control and control the prices and transactions. What i see in the future is a future where most people will be involved in cryptocurrencies and governments will have no other option than to accept cryptocurrencies.

[lisasteca]

Yes, governments fear the btc because it is an instrument that can decentralize by removing power from the central government. But often fear of governments also depends on ignorance on cryptocurrencies and a conservative vision.

[Harrisonimo]

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?

Government fears basically what it does not have control over and what has no controller! The government that are actually against this Cryptocurrency are somewhat afraid of innovation and technology.

[Iamdavid]

Because the government feels it's a platform that will make their citizens depend less on the government, if you work and earn little money,you can save up to buy some amount of btc which might later yield and make u comfortable.

[awawo]

Well you are right in some of your analysis because if bitcoin become successful the the government will lose it relevancy in the eyes of the people, and again bitcoin is redistributeming the wealth of the whole world and at that bitcoin is taking over the responsibility of the government who have failed the people in the past.

[SaiWAFU]

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?

Is your perception about bitcoin about evading taxation? If it is then you're wrong. You have financial freedom even without bitcoin, it is not meant for people who intends to avoid governments taxation.

Bitcoin is banned in several countries because it's decentralized and governments are unable to monitor transactions which is subjected for state taxes.

[cordlesslake]

Governments are institutions of power. No one has ever seen in history a powerful one that willingly accepts to share that power in a decentralized life scheme. Humanity has in fact created dictatorships whenever it could. 

[Al-e_x]

yes, the government should come down to stop bitcoin, but they will get tired and give up because of their efforts to stop the bitcoin do not a success.

9 years have passed, and bitcoin still survives. this is the greatness of the blockchain system created by Satoshi.

the enemy will not win unless bitcoin will force them to legalize it.

[CODE200]

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 think government are fears not only in bitcoin but in all crypto connection. They afraid because they wouldn't control it because it is decentralized system. They could not manipulating it specially in regards to peoples financial freedom. This system are also has the ability and capability to perform without knowledge of the third party that's why any transaction will be made without the knowledge of the government so I think this is also the other reason why some governments are totally banned this system. They avoiding the fact that this system will be taking advantages by other people and using it for their illegal purposes like many laundering.

[Addywealth]

One of the most used, and most powerful, tools that governments deploy to influence the economy is the supply of money. There are additional complexities such as the independence of reserve banks, the managing of reserve ratios, and the setting of interest rates instead of straight money printing, but let’s not nit-pick

[TERA]

I'm sure of it! I think all this is due to the fact that the state can not yet control this sphere 100%. But after a while this may change