Government fears Bitcoin

[scrototeabaggins]

Governments aren't fear Bitcoin but  Governments want to direct people's entire money and access all kinds of material information. It guides the economy in this way. People in the bitcoin system are anonymous and it is not known how much money.

[yj300316]

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?

indeed, the existence of bitcoin and cryptocurrency has disrupting the bank or other centralized system in the world.
some governments doesnt wan their existing system to be replaced by cryptocurrency. but i think it is only a matter of time
before crypto beat them.

[jbdjy]

On the one hand, worrying about the success of Bitcoin will affect the government's control over monetary policy, so it is hoped that it can control or limit its development. On the other hand, as long as the Internet exists, Bitcoin can hardly be banned if Bitcoin is the last in the world. With success, the current controls will put a huge price on their nationals.

[lhea056]

because in my own opinion bitcoin might replace fiat paper currency in the future because most of the people nowadays use bitcoin  for their own convenience . like me i use bitcoin for paying bills and other expenses  i can also go online shopping using bitcoin . and next probably the economy nowadays are dropping because people who use fiat currency are reducing which affects the economy of the country that is why some country banned bitcoin .

[boddy.dy]

Yes indeed some government fears at bitcoin, each and every countries has their own reasons why they have a fear of bitcoin. But base on what I had read in different kinds of articles the most popular thing why government have fear in bitcoin is that this can be used in illegal trades or transactions which no government wants to have in their jurisdictions. This is also the leading cause or reason of some countries on putting in ban bitcoin in their land. For me this must not be blamed with bitcoin because they are just doing their job to serve people. What must be apprehended here is those people who are using or doing illegal trade or transactions.   

[solovalley]

The government has a responsibility to control the country's economic system. Bitcoin contradicts that interest

[AurumService]

Government fears bitcoin because this new technology is very hard to control. Officials like to take care of everything they can but they can`t for now control e-currencies the way they do with money and gold, silver etc. They try to point out that virtual currencies are used for crimes like drug dealing, human trafficking, child abuses, money laundering but if so then they forgot the fact that criminals still use ral money for commiting this and other crimes!

[Weeko]

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 adhere to the same opinion. At first the authorities tried to fight, but their struggle was unsuccessful and now they are trying to control.

[SMD.Shuvo]

I think the government is actually scared bitcoin. Because, like all other countries, my country is not developed and people are unaware. In our country, this bitcoin works in the ordinary people are benifited very financially. And I do it, but the country's government says it is an illegal transaction and a means to steal money. In this way, the government is afraid of bitcoin and it is a threat to us who are doing this bitcoin.

[dianepot]

I agree with this . Government fears with the regulation of bitcoin. They cant collect taxes on it and theyre also afraid that people will not use banks anymore. As we all know that bitcoin is a peer to peer transactions that didnt need third parties like banks in able to transfer funds or assets. If this happens, they will think bitcoin is an enemy to the progress of any country. Atleast they didnt have the control in bitcoin and didnt have to do with it .

[bitcoinrunners001]

Government still has fear on what they cannot control thats why they want to control the use of bitcoin.It could be one big advantage financially and can improve revenue for the country.

[pekavcilar01]

Governments and government banks against bitcoin. The reason for this is competition.
With Crypto money, we can transfer money whenever we want. It's cheap and fast. Money transfers from banks are more expensive. That's why it meets the crypto market.

[MoonWhale]

Bitcoin gives people freedom from the financial system, and the government does not want to lose control over the flow of money. We need to find some kind of consensus.

[jerowacik]

Government fears Bitcoin for the following reasons: First, it is important to note that the government or central bank of a country can use banks to regulate its money supply and circulation of fiat. And they can't do it with btc

[rinkujaglan]

Bitcoin is decentralized and it important to enhance the world in investment and attractive people. Govt. fears with BTC because Govt. have no control over it, Govt. can not take benefit from BTC.

[TrufieldICO]

Cryptocurrency has not been banned by most governments because they see the potential of the technology behind it. They want people to develop it further and are closely monitoring all activities very carefully. When the technology has been refined enough and all it's practical uses have been thoroughly explored, then they will step in with massive regulations to take over and use it to control the masses. That is my opinion and from history, I don't think am far off

[NNMT]

The government is currently very concerned about bitcoin, as the need to find a new way to hedge its wealth is mounting, as governments are increasingly fiercely opposed to traditional banks, by law. Anti-money laundering, forcing the bank to provide sufficient customer information, the use of electronic money to hide foreign assets are rapidly evolving, Encryption makes it very difficult to find traces.

[charlemagne_15]

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 does indeed fear the growth of the bitcoin but not all of them are not in favor to it. Bitcoin is a digital money. It attracts people to use, buy, and own it. Bitcoin have a huge potential to success and when that happen many people will start to invest and have transaction in here. After that, bitcoin will be uncontrolable and that is what the government feared. Government is afraid of bitcoin because they won't have a control to it and also maybe they won't gain something.

[rodel caling]

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?

some government ban bitcoin because the reason is want to regulate bitcoin and get put an revenue tax collection second reason have many bad news for bitcoin as decentralized currency, EXAMPLE are follows use of terrorist, use for criminality, use of drugs syndicate  and many other's reason but didn't thinking the good side bitcoin how to help to the people accepting virtual currency.

actually you have an point of view as decentralized currency government didn't know how to control and regulate bitcoin because is using new technology so government need to ban for a meanwhile because officials want to make sure how help to the community bitcoin accept in their country,
definitely after learning and knows how much bitcoin importance surely become legit currency and the fears is out.

[JoshMart]

For me I don't think fear is the right term for some governments reaction to Bitcoin and all the changes it brings to everyone. I think it is more on threaten because it has a big negative impact on their businesses plus the fact that they cannot control it they way they are doing it on the current system so what they do it that they want to end Bitcoin as soon as possible to prevent further damage to them and their own agendas. They make Bitcoin look bad so it is better to convince people to avoid it and easier for them to create some laws that will help them somewhat regulate it and get something out of it like taxes. I just hope that they can see the good things that it can bring to the majority of people and not just the few people who are on power.