Why did the government want to kill Bitcoin?

[arthotdog]

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 depends on what kind of government is involved because there are more governments that wanted bitcoin than those who banned this or put policies so its not universal when talking about who hates

Those countries that hated bitcoin are the countries that loved their banks and has connections with the richest bankers in their places,because if they are really concern about the people they will find whats the benefits crypto might give to them

[jasydoggye]

Basically some govt. support this issue but few govt. also afraid of this because in market we can do limitless trading with crypto but sometimes these coins are uses for illegal act. Also though it’s a decentralized system central bank can’t monitor this actually these are mainly problems.

[Tukang Becak]

The strongest reason the governement is afraid of bitcoin is because bitcoin has many features that make the state powerless, for example is an anonymous and decentralized feature that if it is legalized then the state has no power to control if there is a problem.

[Vsamuel]

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, the above reasons outlined are not good enough to cause Bitcoin Banned by government across the globe.

I may argue that, other virtual currency can be equally used used for terrorist financing, money laundering, illegal weapons purchases, among others. While i refuse to imagine Bitcoin being Banned anytime now or in future.

I want to believe that, one major reason that best explain why most governments refuse to welcome Bitcoin into their world is that, Bitcoin fails to meet the needs of their Ordinary citizens.

If an ordinary person is unable to conduct a simple buy and sell transaction using Bitcoin, then what good is the coin as a digital currency.

I think most Government are looking for a coin that meets the needs of all its citizens and benefits its nations greatly by impacting significantly into the life of its economy.

For now, the world perceive Bitcoin best suited for investment. and not for conducting common or everyday transactions.

[Shimmiry]

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.

And they somewhat believed, bitcoin was used in doing illegal ways, and that is not a good assumption for them. They lack in research at the same time this is probably like a prediction that was a pure prediction, which is not a good thing. Some government did not realize the capability and potentials of bitcoin that is why. So as a user all we can do is to help the government to realize the perks of bitcoin.

[Abolaji11]

Government want to kill bitcoin because they fear bitcoin and bitcoin is decentralized( it value is Control by user and not government). Bitcoin is unlike fiat currencies that governments control by using  central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert their economic influence.

[Justin Regoo]

I don't think government want to kill Bitcoin. They just ban it from their country. That doesn't mean they are trying to kill it though their moves did have badly impact on Bitcoin.
Terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion are really a motivation for a ban as you said. All of those are illegal activities and governments are supposed to prevent.

[Pamela Silvaa]

What you mentioned are right but I want to add some reasons. Governments fear that the high volatility of Bitcoin can result in high risks for financial market. Due to its sudden increase last year, they considered Bitcoin as a bubble.Therefore they discourage investors from putting money into Bitcoin.

[Kathleen Gomess]

Yeah, your reasons are right. In my opinion, the key reason for which a ban law from government is introduced is the uncontrollable feature of Bitcoin. Provided Bitcoin were controllable like bank, illegal activities as you listed wouldn't happen as easily as they are now. Governments always want something that is manageable but Bitcoin isn't any thing like that.

[ntodntodan69]

In my opinion, perhaps the government is frightened by bitcoin, will damage the currency in every country, and will disrupt the existing government policies.

[enthusia]

I also consider the same thing. It will always be unacceptable for some within the government as they were aware on what is happening but its logically not the fault of creating bitcoin itself but the aftermaths of people over greediness. So for them, the goodness of bitcoin why it was created were totally diminished.

[Suguha]

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 I also thinks that they want to ban bitcoin is because it can be a payment system and can use to do illegal activities, in  my opinion they ban bitcoin because they do not have access in bitcoin and they are not the one who holds it and also because they think bitcoin is a scam and can be a threat to the money that their people invest in it.

[princesspoppy]

Yes, those are the reason why government wants to ban and kill bitcoin. It is because of the illegal activities and transactions that is happening with the use bitcoin. We all know that bitcoin is decentralized and tracing and tracking people using bitcoin is very hard to do. Also governments wants to get taxes that can be help to every country that are using bitcoin

[Thecryptocurrency09]

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.

We are all aware how government manage to kill the bitcoin. This could probably be meant by the holding of bitcoin in the government. As soon as this will happen, the holding could be an hindrance for some who own alot bitcoin. More of, they tend to take this as a tax for somehing or maybe we do not know where to go.

[Supremacy1]

Because they wanted to regulate it so they can generate revenue from it , but it is decentralized and it is digital currency unlike Fiat they have control over

[nazaididuan1]

Bitcoin de-centered currency and transactions are not supervised and managed by the government. This challenges the government's issuance of monetary rights, threatens the financial market, and hurts the government's foreign exchange controls.
The transaction cost of Bitcoin is low, which challenges the existing banking system.

[james_Oscar1]

Because government doesn't know what is bitcoin's nature and how can it help them to develop and earn money. They just know that bitcoin threat fiat currency and It affect to their benefits. therefore, they want to kill bitcoin

[stefy77]

The many explanations-excuses are used to hide the fear of losing the power to deny financial freedom.

[Ayaah]

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.

As my ipinion about this issue's government wants to kill bitcoin, It's because they don't want improvement in their country's and most them are know as most corrupt country's. Actually crimes, terrosist and money laundering are already exist with the use of fiat money so they are wrong to criticize the negative effects of bitcoin, because for me its depend upon the user's who they are.

[Valzzz005]

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.

As my ipinion about this current issue's administration needs to slaughter bitcoin, It's since they don't need change in their nation's and most them are know as most degenerate country's. In reality wrongdoings, terrosist and illegal tax avoidance are as of now exist with the utilization of fiat cash so they are incorrect to reprimand the negative impacts of bitcoin, in light of the fact that for me its rely on the client's their identity.