Why did the government want to kill Bitcoin?

[AshanKaushanka1996]

Actually government cannot identify assets of people, because government do not add bitcoin amount to their assets. 

[1715446523]

1715446523

[shaheer001]

This is reality that every govt don't want any thing which they can not get profit in term of tax or commission and Bitcoin is self controlled digital currency no third party is involved like bank,govt so it is the main reason why they want to regulate it and in my opinion it is impossible or difficult.

[Faeton]

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 order to hide the true reasons for the ban or simply delaying the legalization of the decentralized crypto currency, the government usually indicates the reasons you have named. In fact, they just got used to controlling the financial side of their citizens' activities, and in this case decentralized crypto currency does not give such a possibility. In addition, no one likes the large volatility of the crypto currency, which really is a big obstacle to normal trading activity.

[Hendrahendri]

because the government is afraid the central bank will be replaced by bitcoin, Bitcoin is a digital currency that, in the words of its sponsors, "uses peer-to-peer technology to operate without central authority or bank." With the very definition of Bitcoin seems a good position for killing the central bank.

[Gotumoot]

This is reality that every govt don't want any thing which they can not get profit in term of tax or commission and Bitcoin is self controlled digital currency no third party is involved like bank,govt so it is the main reason why they want to regulate it and in my opinion it is impossible or difficult.

Bitcoin is a great threat to the government, because bitcoin has many characteristics that government cant accept, just like bitcoin being decentralized, means that it cant be controlled or manipulated by anyone, and also bitcoin can be used anonymously, its also used by criminals, and government cant trace it. Also government cant get something from it.

[kuto]

Yes, that's what the government is worried about, so they've chosen to ban bitcoin, but most of the countries that ban bitcoin are corrupt countries, so they're worried about massive capital outflows.

I think government is not that eager to kill bitcoin they might afraid in some point but so far I don't know or we don't have clear evidence that the government has plans in killing or eliminate bitcoin for good.

[wormgummy019]

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 my own opinion, I think government wants to kill bitcoin because it is decentralized. They don't receive tax from bitcoin. Another thing is they are scared because maybe bitcoin will replace the public government banks.

[Bitcoinislife09]

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.

Yes, that is right. Those are the factors why government bans bitcoin. Of course, obviously the things you've enumerated are all the issues the government pertains to. It will be hard for the government to control bitcoin and to trace the users and their transactions and so the easy way is to forbid its citizeng to use it. And those stated illegal activities might really happen and be all over the place. It is your opinion so don't apologize.

[Maiscoinyelo]

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.

For me, government wants to kill bitcoin because bitcoin is decentralized. Maybe the terrorist or the hackers can enter bitcoin. Another thing is bitcoin has a big threat in the government. Maybe bitcoin will replace the current currency.

[Hudadahuda2018]

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

To my knowledge if somebody or the government knows less about bitcoin both in terms of benefit and profit then I'm sure they want to destroy bitcoin facilities even they want to kill bitcoin because sometimes they can not control bitcoin so they have bad thoughts on bitcoin.

[charlemagne_15]

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.

I think government aren't that desperate to completely shut down the cryptocurrency such as bitcoin. They are just afraid that it will be more successful than it is now. Governments want to lesser the usage of it or worse ban it because of the bad effects of using it such us buying prohibited things, money laundering, fraud, scamming, and so on. They are only worried on the worst part of engaging in bictoin. But others might say that governments want to control the bitcoin badly so they want to kill it.

[Shafiqul Islam]

Government and banks fears bitcoin because they don't control bitcoin and money laundering. Actually government bann bitcoin case they don't get any fees and like taxes.

[worle1bm]

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 have stated most of the reasons for which governments want to ban bitcoin like illicit activities like smuggling,money laundering are done with the help of btc.Moreover the governments can't have control over these digital coins unlike fiat over which governments do have full control. So they don't favor it because they think they will loose their power with its usage.But soon they will recognize its importance in economic growth and put some legal measures to regulate it.

[lamthanh3462342]

I think because bitcoin's anonymity makes it difficult for the government to control, many cybercriminals use bitcoin to trade prohibited items, do not pay taxes to the state, and its safety is not high. What the government wants to do is public safety, maximum security for users. And more importantly, many countries do not have the perfect technology to manage bitcoins in the best way.

[ginobitcoiner]

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.

it is true, there are many reasons why some countries in this world prohibit bitcoin to be circulated in the country. very much the fear of a country like some of the reasons you mentioned above, but I am sure if the government can make a good regulation the grave of fear will be handled well

[stephanirain]

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 my opinion, government aren't that so eager to really end the circulation of cryptocurrency like bitcoin because if they really want to then they should totally ban it right ? I think governments are just against in the usage of bitcoin so they don't allow to legalize it in all places becuase of the negative sides they see on bitcoin such as it can be a tool or a medium in money laundering or scamming other people's money. It can also be use in black market transactions or dealing in illegal trading. There are a lot of factors in bitcoin that a government wants to kill.

[Nakakapagpabagabag]

Yes, that's what the government is worried about, so they've chosen to ban bitcoin, but most of the countries that ban bitcoin are corrupt countries, so they're worried about massive capital outflows.

I think government is not that eager to kill bitcoin they might afraid in some point but so far I don't know or we don't have clear evidence that the government has plans in killing or eliminate bitcoin for good.

Because some government officials of the countries that ban bitcoin have large capital in fiat money. For example, we know that big time businessman against bitcoin, why? Its because they are scared that fiat money will become less valuable in the future. Bitcoin is a threat to the fiat money, as what we can see, technology runs our world now, so its possible that in the future, we will only be using digital money rather than paper money because its less hassle.

[uletkeket]

I agree with your reason but I disagree about your title of the topic. Who can kill bitcoin? Government can ban but can't kill. The government want to ban bitcoin because the disadvantages like negative or illegal transactions.

[armarsterling7]

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.

I think your opinion is correct. These are the negative aspects of Bitcoin brought to the world so it is banned in some countries. In addition, that will also affect the future of Cryptocurrency. When bitcoint can not grow well, the Cryptocurrency market will not grow. So the future of Crypto is very vague, we can not wait for a bright future in Crypto if there is no adjustment.

[Malya_alkendy]

True what you say, the government wants to kill bitcoin for the reasons you mentioned above. but I think not all governments think so, the evidence is that some countries have accepted and legalized Bitcoin as a valid currency and payment instrument. here I say, countries or governments that want to kill Bitcoin or ban Bitcoin, it's because they are not ready with the presence of Bitcoin in this world.