Why did the government want to kill Bitcoin?

[Fasdartin]

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?)

government will kill crypto because of bitcoin have no taxes. Browder says bitcoin and other cryptocurrencies will eventually by regulated by governments.When that happens, cryptocurrencies will lose the libertarian freedom that made them alluring to investors in the first place. Cryptocurrencies, which allow users to interact securely and semi-anonymously, offer a potentially more attractive money-transferring alternative to criminals. And since bitcoin is not tied to any specific nation or agency, there are fewer legal barriers to circumvent.

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[batang_bitcoin]

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

They don't want to hold but it's also possible that they want to manipulate because there's a big cash flow coming in and out to bitcoin.

But the very first reason why they want to stop not literally kill, I guess that doesn't fit the term correctly is to protect their people from the known usage of bitcoin for using it illegally.

They are only looking to bitcoin that way.

[romero121]

Governments only intention to kill cryptocurrency is that it cannot keep it into control. Apart from this, people who make use of it will get profited and not the government. Apart from this the increasing usage of cryptocurrency for large scale transactions has made banking industry face big loss in the revenue. The compulsion from the financial sector is also an reason for governments to have plans of killing bitcoin.

[lionjuvs08]

Well, not all government are want to kill bitcoin, in fact they want it to be legally adapted by all people around their country to make it as one of their source of income too. Bitcoin is one of the best way to earn from investing on it. We want this to be available all over the world.

[Inasal03]

In the other country they banned already this bitcoin but in my country they accept this bitcoin because many peoples here have a oppurtunity to have a income if they cannot find job then they can join here because its to hard to find job and to low also the salary is not enough for everyday. That why in my country they are interesting here for the peoples.

[Aris novianto]

probably because bitcoin is very much, so the government wants to kill bitcoin, the economy in a big country is partly controlled by bitcoin, so people become anxious to kill bitcoin.

[UptempoMarketers]

I think control is the main reason why governments around the world are reluctant to accept bitcoin as a currency. But as the positive sides of crypto currencies become hard to ignore, they'll eventually legalize them.

[stasiulman]

Bitcoin and a government are mutually exclusive phenomena. And from the point of view of logic, and from the point of view of economic practice.
Bitcoin is a kind of attempt to exclude from the system superfluous intermediaries, including all financial institutions and state institution.
The government is an intermediary, which should resolve disputes in the entire economic system.
At the moment, when solving any economic problem, there is always a delegation to third parties. The fact that we trust the solution of these issues to the state, because where have no been yet more reliable mechanism for solving possible problems. Supporting Bitcoin, a person declares own distrust of the state in the matter of controlling economic processes.
That is, the state sees a threat in the cryptocurrencies and by the loss of influence, and by the economy, depreciation of the country's currency, etc.
About transactions and its tracking, I remind that bitcoin is pseudo-anonymous. With the due desire and information and transaction is quite possible to track.

[MTNAX]

Maybe the government does not want to if the state financial problems become irregular due to bitcoin, but there are also governments that approve the use of bitcoin to serve as one source of income. Bitcoin is probably the best investment that is easy to use, so many are still using it.

[Fantastic33]

Government wanted to ban or regulate bitcoin and other crypto to protect the public with their finances because there are news or incidence that people become victims of cryptos which are not legit that resulted to financial loss. Other reason is that transactions on crypto are pseudo-anonymous, they are afraid that it might be used for illegal transactions such as the purchase of drugs or illegal weapons. And lastly is that the issue on tax collection. Until now crypto is still not classified whether its an asset or a currency, so imposing a tax on it is still a big question.

[Arkham Knight]

Sorry but kill is not the appropriate term to describe what they do. The government are just trying to descredit and that is the furthest they can do. Bitcoin is unkillable and I know that the governments know to theirselves that it is the next step for the new modern generation.

[IndigoRed]

Some amount of regulation will help crypto become more stable and more trustworthy. In other words, it will seem more legit. One of the fundamental things a strong economy needs is honest, reliable, immutable ownership tracking. And only a virtual currency can provide this. And of course, this could only happen with everyone’s support, including the government's.

[jaocoincrypto18]

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.

In addition, the Bitcoin platform may use in scam investments and may steal the hard earned money of their people. All of these are indeed very true that it might ruin the country and its citizens but there is regulation and policies that could be created in order for Bitcoin to not to be use in these illegal activities. Some of these government only see the negative aspects of Bitcoin in which they are too blind to see the benefits and the positive side of it if they will just support this investment.

[drmilind2004]

The US Government wants to kill Bitcoin because the US Dollar is the global reserve currency. This effectively means that the Federal Reserve can simply print new dollars for whatever reason, and the rest of the world will grunt, sigh, look on resignedly, and then everyone moves on.

If Bitcoin becomes the reserve currency, the USA loses this power, and simultaneously it's position as the leader of the world. The wonder isn't that the USA has made anti-Bitcoin or anti-Cryptocurrency noises, it's that it hasn't clamped down hard on Bitcoin and other Cryptocurrency as yet.

I won't be surprised if a future US Government driven to the edge decides to tax the possession and mining of Bitcoin, perhaps of all Cryptocurrency, maybe even with retrospective effect; and then forces the other countries to levy tax accordingly. What will you do with your Bitcoin and Cryptocurrency hodlings in that scenario?!

[Frob1992]

authorities want to govern the entirety banks , courts and our virtual privateness , in different word government like the whole thing to be centralized and dominated, as you recognize bitcoin fee gadget is decentralized peer to see transaction . That major reason governments all over the global will non-stop the fight as much as the stop .

[mornabo]

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?)

Yeah, I think everything is clear that the government is threatened by the existence of crypto, the bank system that is already under the government might be less popular because of the decentralization system, from that system, the government might get a lot of losses becaus of bitcoin

[vonnyaries]

yes you are right until right now government think that bitcoin is only used for criminals, the government don't know about ICO project that happen in the cryptocurrencies world, for develop the great idea idea and makes the world is better than before. With that idea there are many changes that will change the world

[Tubig]

personally, the government want to kill Bitcoin because they want to control Bitcoin like other currency  but Bitcoin is called digital currency, so they can not control it

That's right, the reason of the government wants to kill bitcoin is because they can't control it, they can't earn from it and also the possibility of using it in illegal transactions.  Just like for example is drug trading, illegal traders can possibly use crypto for paying for it and it will be alarming for the government it will be like they are tolerating it and they don't want it to happen. the responsibility of the government is to protect it's people.

[kimjongun92]

Because Crypto market need bitcoin for money laundering and criminal activity, The government want to kill bitcoin in order that there is no criminal all over the world.

[sergio red]

It's true that every government wants to provide a secure monetary system for their citizen. I think most of the government doesn't consider as a safe platform for the transaction. They really think that cryptocurrency is mainly used for the underworld and money laundering event. so that it's is called a risky way for the monetary system.