Why did the government want to kill Bitcoin?

[cryptoteen]

 Bitcoin claims that it is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. That lack of central authority is the primary reason governments are afraid of the cryptocurrency. Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence. They also dictate how fiat currencies can be transferred, enabling them to track currency movement, dictate who profits from that movement, collect taxes on it, and trace criminal activity. All of this control is lost when non-government bodies create their own currencies.

[mrcash02]

I think these points are just excuses presented by governments to forbid Bitcoin while preserving their image as protectors or keepers of the people... Fiat finances terrorism, crimes are committed for and with fiat, illegal weapons and smuggling in general is done through fiat, there are several ways to evade taxes without Bitcoins...

These problems exist since a long time ago, it's not because Bitcoin appeared recently that these issues are increasing. And to ban or control Bitcoin isn't a good solution. Actually I really doubt governments are worried about these issues, they are just worried about having less control over individuals lives in a decentralized system, and worried because their partners, the banks, will make less profit if people move their funds to Bitcoin.

[JamesR1]

Government want to control everything banks , courts and our digital privacy , in other word government like everything to be centralized and ruled, as you know bitcoin payment system is decentralized peer to peer transaction . That main reason governments all around the world will continuous the fight up to the end .

[krishnaverma]

All governments are not against bitcoins. In fact any competent leader will be in support of crypto as it can solve a lot of economical problems in their country. At least, one should research about it with an open mind.

Problems occurs governments judge only based on past online scams and think that bitcoin is same.

[Emmax]

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 mentioned many things which are the only negative side of it. But you have you come to think about the good part it place in the economy for those countries that accepted it?  I still believe with time many will accept it after noticing the more good part of it. Bitcoin have helped many people and it will continue to be useful to us all.

[havok1998]

True. Governments around the world are banning BTC and crypto currencies because its transactions are difficult to trace and can be used to store black money, for terrorist funding and other illegal stuffs. But banning crypto currencies is not the solution because crypto's can be banned, but they can never be stopped as the transactions are untraceable and anonymous and doesnt reveal any information about the sender or receiver. banning will only prohibit people from buying crypto currencies using fiat money.

[notyours]

I think so I want the government to ban bitcoins because it can be used for illegal activities. But fiat money is also used in illegal activities, maybe they want to do something else. They may want to control it in their hands and to have more profit.

[Usmanmuhon]

I disagree about your title of the topic. Government can't kill bitcoin? Government can do only ban bitcoin can't kill. The government want to ban bitcoin because the disadvantages like negative or illegal transactions.Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion.that why government want to ban bitcoin/ kill it.

[Ikonik]

Banks don´t like other currencys and Banks ruling the world and also goverments.But if cryptocurrencies get centralized and under control of goverments/banks,welll...thats another story

[Betty10]

Your points are certainly valid. But some government actually understand the potential of bitcoin and the problem it solves, but because this seems to take money control and its manipulation from their power, they are mad at it. They want what they can control and regulate.  

[kxp]

They did not wanted to do that. So better to inform yourself a little bit better instead of coming here trying to spread as much FUD as you can, bitcoin is not dead and it will never be "killed" by the government or something like that

[Nnedaddy1]

It is fact, that some governments actually want to ban the use of bitcoin in their country..... This can be attributed to the autonomous structure of the blockchain technology, which seems to be encouraging criminal activities such as: money laundering, drug trafficking etc.

[harrylucky67]

- It’s realy simply, because Bitcoin is unregulated digital currency and it is developed with decentralized technology. Therefore, the government can not control it

[issacwilliam]

The fact is that Btc is acting in deep web and it is out of control

[TobyToby6000]

Personally, I think the government can not get any profit from bitcoin. So they want to kill Bitcoin. That’s all

[mikegold]

Hello to the whole community. I really do not think that government regularizations can end Bitcoin, the free market policy offered by cryptocurrencies endangers the power of banking, and even more so in countries that have a strong financial wall. But I am convinced that sooner or later it will be inevitable to impose controls on the transactions of cryptoactives, the true strength is given to all who work the crypts in one way or another. Thanks and regards.

[Jihuny23]

Indeed bitcoin offers a variety of conveniences for its users so do not be surprised if this convenience is used for negative transactions. Actually bitcoin technology is good and great just the behavior and mental users who are not responsible for using bitcoin for crime transaction. With a decentralized bitcoin system, the government has no control over how to manage bitcoin transactions. Indeed there are all positive and negative sides. In addition, I predict that the reason that the government wants to kill bitcoin is because they fear if the country's fiat currency is shifting position with the presence of bitcoin. This sophisticated bitcoin will certainly get the heart in the community because the transaction is quite easy. If this happens then the government feels a big loss.

[Daday23]

Because they want to control bitcoin,they want bitcoin undergo regulation and they are the one who will regulate.They think it is threat on their  goverment.Thats why there is still coutry doing it.But they never look on the positive side that bitcoin is very helpful to everyone.

[Renal]

your opinion is true too bitcoin is now crowded in talk almost worldwide, some want to receive bitcoin but also there is a ban bitcoin and if in my opinion that bitcoin is difficult to stop let alone bitcoin users there almost worldwide and this will make bitcoin growing moreover now there are already many new coins that appear in the world of cryptocurrency of course this will further add its own power for the world of crypto.

[vidivici]

In my opinion, the government wants to kill bitcoin because if more and more people are using bitcoin for the transaction then the government will not get any profit. Bitcoin offers low transaction costs and no taxes so the government is afraid of not benefiting from taxes on financial transactions. Especially tax this transaction will be large enough to follow the number of transactions. Maybe the government is not ready to face the increasingly tight currency competition. That’s a bit of my idea.