Why did the government want to kill Bitcoin?

[Indamuck]

Governments are scared because they can't control bitcoin.  Bitcoin can't be fractionally lent by banks like fiat can.  Banks only hold around 10 percent of actual deposits from what they have lent out in total. The whole system is working on debt.  Bitcoin is decentralized so they will not be able to manipulate it and print endless currency.

[Blondy12]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

This can be just an speculations but there are no proper statement as reasoning why there are governments that forbid the use of bitcoin. Though i am not saying that your thought are not right, is just that we don’t really the reasons are but partly maybe you are right there mate. Mostly i agree with tax evasion issue especially that most government in a certain countries got a government officials that are corrupt.

[matchi2011]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

This can be just an speculations but there are no proper statement as reasoning why there are governments that forbid the use of bitcoin. Though i am not saying that your thought are not right, is just that we don’t really the reasons are but partly maybe you are right there mate. Mostly i agree with tax evasion issue especially that most government in a certain countries got a government officials that are corrupt.

Yes, most of those reason are the facts why government are not in favor for this innovations, being decentralized and not having any controlled can harm
the economy of such governance, adding up the government itself can deal with money laundering using the system can give them an easy passage to deal with illegal acts this mentality still not been removed and the existence needs to be well aware to everyone.

[mmo_online_1981]

Because they have not managed to match Bitcoin due to anonymity and some risk of digital money! Need more time!

[Denies]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

which world government do you discuss? there are some big countries that even receive bitcoin in the country, and some legalize it. so not all countries will ban bitcoin even as you say such as money laundering, drug crime or something like that.

[tintinbongs]

Government want o kill bitcoin it is that they can not imposed a tax on it and where transactions is no monitored to where the bitcoin is used. And maybe one of the reasons is that governments and regulatory bodies have shown they lack understanding of technological topics, and bitcoin is one of the most complex.

[Joyjoy16]

I think because they want to hold or manipulate the bitcoin so they can manage the price of the bitcoin.

[jessbaker27]

The government just looks at the negative side of bitcoin and not really try to look and understand the advantages of it. I dot think that the main reason they are trying to kill it because of control, they can't control it and sees it as a threat to them and their central banks.

[SilverChromia]

Some people in the government may really want to kill bitcoin or they against that much on any crypto currencies that we have at this moment because some of people in the government are having a lot of big business that doesnt use bitcoin or other crypto currencies and they think that their business or company can really be run only using the power of fiat currencies and thats the reason why they are really against on the bitcoins they think they would lose some profit in the future if bitcoin will continue its goals day by day but they do not know in the end that bitcoin has already started to make things that cannot be stopped and make a lot of ways to make stronger it self in every country in the world.

[finlandais]

Many countries are against bitcoin because they believe that bitcoin is affecting their economy.They are just focusing on the disadvantages of bitcoin so they are trying to kill it.They should consider the positive side of BTC and try to promote it.They cannot impose tax on it which is the main reason why government is against BTC. I think that government is not trying to kill it but instead they are trying to slow it,they want to apply regulations on it in order to control it.

[Virtual miner]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

There are many reasons for this. Yes this is right that Bitcoin can help the criminals in doing illegal activities. But in addition this the government has its personal motives also. The government and banks enjoy the control over financial system of the country but cryptocurrencies are snatching that power from them and giving it to the public.

[pixelvault]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

They dont care what bitcoin can do. Because FIAT does everything you described there aswell and worse.
They want to control Money so they can in turn hold onto their power.

Its all about power and control.

Bitcoin gives people hope, that one day the retards in power today will someday be gone

[irfandi hasan]

the reason why the Government wants to ban the bitcoin. I guess they do not understand what is bitcoin facts and how it can help them but time will come that they will be aware of countries that adopted a currency can bitcoin is used for everyday purposes

[rajkr]

Yes above mentioned reasons persist,also the btc investment will impact national currency,so over all the country economy will shaked by interference of another currency which is non regulated in nature.

[xesslypudin]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

You're right, the government wants to kill Bitcoin because they want to control everything for their benefit, and one of the great advantages of Bitcoin is that it is decentralized. And they know they have a future and that's why they live scared, because they can not control it.

[Wicked Sick]

All the reasons you mentioned are just a cover to hide the main reason why the governments don't want to see Bitcoin flourish and that is cause they don't have any control over Bitcoin due to its decentralized nature. Anything that governments or banks don't have control over is illegal and a threat to their monopoly so they don't want to see it grow.

[boakyei]

You are right on point. As a matter of fact ,as soon as government give it full support to bitcoin, government fight against financial terrorism and money laundering will turn to nothing and due to this government is always fighting the legalization of bitcoins.

[melkola]

Killing bitcoin is not profitable for the government. These greedy miser just want to take control of the cryptocurrency turnover in their hands. They want to tax it. No government in any country ever does anything good for the people. Therefore, in the crypto world, they want to spoil everything for us. On the other hand, there are of course concerns about the uncontrolled nature of cryptocurrencies. This can take advantage of bad people in their dirty deeds.

[hulla]

as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
but this is just my opinion, so if I am wrong I apologize.

Thank You.

Firstly, you don't need to apologize cause there are something which you don't understand about the block chain and the bitcoin protocol. Yes, bitcoin payment was anonymous before the 2017 and I can assure that bitcoin payment is no more anonymous ever since the SEC and the senior regulators ask cryptocurrency exchange/ICO to use the KYC,AML system. Ask yourself how was those that use cryptocurrency to buy illegal nab? Therefore, they are just giving us a lame excuse because they are scared about how Bitcoin will change the world positively which may lead to national currency been abandon.

[kamoto]

Do people still ask such questions?
Well, it's quite obvious. The government does not benefit from this because bitcoin directly threatens the modern financial system. Banks will simply cease to exist. In the case of using crypto-currencies (any decentralized, not necessarily bitcoin), the whole sense of money disappears in banks, hence the world financial system changes. And to people now in power (capitalists) this sort of arrangement of things is generally not profitable.
Is it not obvious?)