Government fears Bitcoin

[Crypto24hrs]

The advent of bitcoin does not only create fear and panic in the mind of government but threatens their  existence and of course their monopoly and centralization of currency but bitcoin family do sent care.

[1714299917]

1714299917

[hujanderas]

cryptocurrency is accepted worldwide as a means of payment, this will reduce the intermediary system for example stealing people's money through banks, There are indeed many disadvantages of decentralization but the advantages are more severe.

[_Mikasa_]

Bitcoin is a decentralized transaction which means the system works without central authorities or a middle person. Government uses central banks to trace any currency movements, taxes and even illegal activities. Without being able to do so, government fears that illegal activities will easily get through and can’t be able to track them.

[jchav010101]

It is starting to change, there are countries that are verified accepting and adopted bitcoin.They can not control bitcoin. And Bitcoin is the most popular digital currency in many countries and its currency is decentralized, which causes the government to fear the presence of this crypto currency may be crypto currency can not be affected by any government policy.

[yurenchuang7125]

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?

For Banks, the advantages of cryptocurrency are huge. First, the cryptocurrency allows people to trade directly with each other, just a small fee. When you transfer money through a bank, the service fee increases as the amount of the transaction grows, and when the amount of your transaction is large, you usually have a high fee. In addition, because of the mechanism of distributed bookkeeping, the cryptocurrency is not tampered with by anyone, and in the security guarantee, the encrypted currency will only be better than the bank.

[WorldBiz project]

only weak governments with unstable economics fear the BTC

[Jaya912]

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.

As of bitcoin can not be controlled by any government because its more like independent, so i think government can not make sure whether bitcoin is safe for their citizents or not. Bitcoin built with high risk and high return so not any government can make sure that.

[KelvinSF]

the government fears bitcoin because there is no stable means of tax regulation and they are scared of adopting the change, they cant control the cash flows because their ignorance about the trade

[Eijrafarm]

I don't think they fear bitcoin. They want to prevent their people of being scam and get involve into a high risk investment.

[xhoondilan]

I think government government don't want Bitcoin because of it's cause to they're country, fiat money is product by the factories that made billions of fiat money, now if Bitcoin is accepted and sooner or later it will be enhance and become the most use currrency, then the fiat money will all be perish or became a collection, the production of fiat money will no longer be made and that's the reason why government don't want to change our currency due to the taxes of making fiat money that we are using now.

[PilosopongTacio]

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?

Simply because they don’t know anything about Blockchain, cryptocurrencies and ICOs. The issues of regulation and how to control its operation. There are other factors as well like how to impose taxes on it. Fear comes from lack of understanding and anything that looks odd and suspicious is forbidden to the government.

[sirminesalot]

Not afraid but the government wants no loss later in the residents. therefore they forbid bitcoin. not mean fear. there are many factors why the government bans that can not be published

[bright4mech]

Bitcoin is a king of all Crypto currency, that is acceptable all over the world in a digital form, and highly demand in market exchange, that no have a central point of trace. With the government fear, has prove that bitcoin is real money

[Nyenyepogi]

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 are not so knowledgeable with the thing happens in cryptocurrency world. Thats the reason why Government are afrad to work with it somehow they really dont know how helpful and become helpful to all the society who wants to have job .And to reach the goals.

[Hans17]

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?

Well indeed government cannot control the bitcoin , and that's why i stay at bitcoin because it is decentralized , and one of the common reason why government fears bitcoin , they don't have the right amount of knowledge , they see bitcoin as a fraud a scam , a ponzi scheme , that's why they illegalize bitcoin.

[seanskie18]

I guess it's true that government fears bitcoin because if not why some countries banned or block it in their country. They really afraid bitcoin so much that's why they don't allow it to know about people.

[Wipeout2097]

Government  fears Bitcoin because Bitcoin cant controlled by third party,Bitcoin is an independent and based on blockchain technology which is more secure.Bitcoin made many millionaires and changed their lives.So government want to collect the revenue and tax.

[KITTY 0108]

The government is afraid of bitcoin, perhaps the government is afraid bitcoin takes over the country's currency.

[Duogembrot]

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 it is true that many governments from some countries are banning and combating the use of bitcoin in the country but the possibility of the government there is still afraid of technological developments that increasingly sophisticated and possibly also the government under pressure by local banks because I think the most in disadvantage of this case is the bank because many local customers will be reluctant to save money in the bank again, they will prefer to keep it in bitcoin.

[Luwi]

I do not think the government is afraid of bitcoin, maybe there is a government concern about bitcoin freedom. The government is afraid if bitcoin is rampant, while no one is controlezing bitcoin growth. If everyone has an automated bitcoin of all rich people, this will have a negative or criminal impact. The rate of economic growth can not be controlled, so that fellow people do not need each other. So instead the government is afraid of bitcoin, but the government is afraid of the negative impact that bitcoin will cause.