Why did the government want to kill Bitcoin?

[marjon]

Most government recognize it as "Virtual Currency" a currency on it's kind used to perform certain transactions online. To make it legal, it should be undergone such regulations for the acceptance in public. This is what happens in our country, and so far the outcome was very pleasurable for us. The government would then take a little tax from it, I didn't seen government having much insecurities with Bitcoin.

[Afnan_faizah]

All reason that you wrote is right, I think the most important thing to discuss here is how to make government accept bitcoin, how about make a charity event to introduce bitcoin in a good way, government want to kill bitcoin because it looks like a threat for them but maybe if they looks bitcoin and it's community is a good thing then maybe they will treat bitcoin in a good way.

[Thyristor]

Most of the reasons is people using BTC in many illegal activities.Buying drugs,money laundering & using BTC with porn etc.
And other a lot of illegal activities are doing by it.Mainly that's why government trying to destroy btc and alts.In Many countries btc is not acceptable thing.

[Btcmicel]

Most of the reasons is people using BTC in many illegal activities.Buying drugs,money laundering & using BTC with porn etc.
And other a lot of illegal activities are doing by it.Mainly that's why government trying to destroy btc and alts.In Many countries btc is not acceptable thing.

Yes, government want to kill bitcoin because many bad people maybe used in the illegal transactions, and government can't trace it. Another one bitcoin did not pay tax, government can't earn money.

[ethereumhunter]

Most of the reasons is people using BTC in many illegal activities.Buying drugs,money laundering & using BTC with porn etc.
And other a lot of illegal activities are doing by it.Mainly that's why government trying to destroy btc and alts.In Many countries btc is not acceptable thing.

maybe this is true and the government only knows about the illegal things that bitcoin can use. I think the government needs to learn more about bitcoin, especially about cryptocurrency so they know that besides of the illegal things, bitcoin can be used for legal things too and bitcoin is trying to help every people from all country to search a new source of income. maybe after the governments know and understand about bitcoin, they don't kill bitcoin and they will support bitcoin to grows and make bitcoin as a legal thing.

[Underlord]

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.

the issue may be true, but the vital thing in my opinion is that bitcoin transactions are not taxable, so the government can not make money and control the economy of the country, it also results in the fall of the currency value of the country.

[Kotone]

Most of the reasons is people using BTC in many illegal activities.Buying drugs,money laundering & using BTC with porn etc.
And other a lot of illegal activities are doing by it.Mainly that's why government trying to destroy btc and alts.In Many countries btc is not acceptable thing.

maybe this is true and the government only knows about the illegal things that bitcoin can use. I think the government needs to learn more about bitcoin, especially about cryptocurrency so they know that besides of the illegal things, bitcoin can be used for legal things too and bitcoin is trying to help every people from all country to search a new source of income. maybe after the governments know and understand about bitcoin, they don't kill bitcoin and they will support bitcoin to grows and make bitcoin as a legal thing.

well, the negative impact of the bitcoin or cryptocurrency in one country would the thing that it can be a threat in the government and in the banks. we know how was good the cryptocurrency in terms of savings. maybe one day, the peopleleft the bank and after in the cryptocurrency . also it is untraceable so it is perfect to do crime with it.

[spider15]

I'm not really sure if the government really wants to kill bitcoin. I think the government just not really understand what bitcoin is. Maybe they just want to regulate it.

[gokudera]

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.

Government want to kill bitcoin or end it because they know that there is a chance that bitcoin can make our bank disappear and it can be our currency in the future.

[angchosenone]

this is my solitary contemplations or assessment regarding why government wsnts to boycott bitcoin. Bitcoin is known as computerized cash in view of that administration can't be follow or track the exchange inside the framework and can't control the cash stream inside. A portion of the exchanges here are illicit like acquiring weapon, sedate trafficking, blackmail, misrepresentation, trick, programmers, and illegal tax avoidance. It will be a major danger to our nation and residents security. In any case, I trust multi day government will seee the brigther side of bitcoin and perceive how they can contribute in our worldwide economy.

[hulkangrysmash]

They don't want to kill it, they just want to regulate it. Government always want to get something they can earn from. I think they just want to imposed tax on bitcoin.

[Hui8]

We live in free world, you have right to speak, there is no need to apologise. Lolz.
Well, off course whatever reasons you have mentioned here are all the one who are behind the unsuccessful transaction of bitcoin in the real world. Its breaking the bitcoin and blockchain internally and thus government is taking the advantage of the same to break it even further. Yes I do think that it is completely acceptable that as to why they are banning everything. If we really want bitcoin surging through the real life then these things needs to be overcome first and then only it can gain real legal status in the time to come.

[dimonstration]

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.

Government want to kill bitcoin or end it because they know that there is a chance that bitcoin can make our bank disappear and it can be our currency in the future.

They don't have  controlled in bitcoin, the government does not getting benefits from it.
Or maybe they want to create own crypto currency that they may control, it means it will be an centralized.

[Winnerschapel]

Government wants bitcoin to die because, they feel that it is a threat to them and also, they want to be in control of bitcoin but bitcoin is decentralized and that makes it hard for them to control bitcoin.

They also feel that individuals can use bitcoins to eveade tax as well but the government needs to look at the brighter side of bitcoin rather than what they see as threat bitcoin is imposing

[paulparkker]

the government want to kill bitcoin because government doesn't want to share your profit with others .

[blocklancer8]

Indeed many governments want to kill this bitcoin so that people do not use it to transact or as an investment. This happens because the government is concerned that this bitcoin is being misused and used against the law such as money laundering even to the stage of terrorism.

[basyang]

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. all of you stated aboved is some reasons why the government wants to banned bitcoin. Some of them are concern to the negative effect of bitcoin but some of other country who accept bitcoin is looking for the bright side of it. The government also wants to banned bitcoin and other cryptocurrency because it can be treat to the transactions of tdhe bank.

[BasilHawkins007]

Because they cannot control bitcoin. No taxes and many illegal transaction were done using bitcoin.

[Ava Duvall]

I agree with many who here said that the government forbids it because they can not control, but I would single out two more reasons. The first is the difficulty of obtaining taxes with operations with crypto currency. Second, many governments include many bankers, or people close to bankers, and it is not very profitable for them to get a product that directly deprives them of their work.

Exactly. also alot of illegal transactions and black maret criminal activity has been going on and there have been extensive measures taken to stop it. that's why the talk of "killing bitcoin" circle in the interweb.

[wireless1889]

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.

Government merely focusing on the negative effects of bitcoin, which is not goo. If they are afraid of that things to happened they indeed needed to regulate it but not control everything in bitcoin. Bitcoin is a system that no one can take control of, it depends on its users and users believe in bitcoin that is why bitcoin continuously improves itself at the same time continue to give users its benifit.