Why did the government want to kill Bitcoin?

[kamoto]

Because crypto currencies are threatening the modern world order. Yes, yes, everything is so serious. If bitcoin becomes really massively used (or any other decentralized crypto currency), then the modern financial system can change. And this is extremely unprofitable for those people who sit at the top of power. Therefore, there is such a great resistance to the development of bitcoin

[Gabali126]

There is no crime you have mentioned here that cannot be committed with fiat. So therefore, they are not peculiar to Bitcoin alone. Or will they also forbid their fiat for being used for the same offences? The response is surely NO!

[myown2cents]

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.

Aside from those illegal acts by lawless elements, the governments also want their own currency to only dominate the market so that they can fully control everything from us most especially all our centralized assets. Good thing about centralized assets is that they are pretty stable though lacks in privacy and security unlike Bitcoin wherein we can evade tax on every online transaction me made.

Criminals are involved with bitcoin too they're using it rapidly and more faster than any other bitcoins users which makes them highly anonymous.

[bitcoinajax455]

They worry about the impact on their financial system in the event of a Bitcoin bubble explosion and its bad consequences. Managers around the world are worried about virtual money being abused for money laundering and other criminal purposes.

You have a point! Other government worried about virtual money, because some people abuse it for money laundering and other criminal purposes. Other government wants to stop bitcoin for thier personal purposes.

[rjsmith]

Because government will not legaly accept bitcoin.government are worried about if people will not use banks and remove the money from banks.its the main reason the government wants to kill bitcoin.

[warkop121]

That's what everyone thinks is very clear and the fact that the government is justified because it is very risky for the security of the country and all illegal transactions, but I believe it is not an obstacle for crypto to grow well in the future, as now Bitcoin grows rapidly though there are still some countries that forbid , and there are some governments that change their minds to adopt cryptocurrency again, so the government is banning bitcoin in the country because it will affect their country's economy and maybe because bitcoin including digital curency can not be controlled by anyone then the government would rather kill bitcoin than later will create some factors that the government does not like.

[CryptoInvestICO]

For correctly beneficial to control the issue of money, bitcoin appears as a result of a mathematical solution of problems and the emergence of new bitcoins as a result of mining. The government wants to control everything, but they can only settle bitcoins and crypto-currencies

[kauban2018]

For me, government wants to kill Bitcoin its because people are focusing on it and not to other business that they can earn. For the government it shows that Bitcoin is not a good business for them because they cant earn more than they expected to earn.

[Ahmadarwani56]

I think the government does not want to because the state's economic bitcoin is unbalanced and many people who can not afford more difficult .

[bubble pop]

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.

Since digital forms of money are undermining the cutting edge world request. Truly, indeed, everything is so genuine. On the off chance that bitcoin turns out to be extremely greatly utilized (or some other decentralized digital currency), at that point the advanced budgetary framework can change. What's more, this is to a great degree unfruitful for those individuals who sit at the highest point of intensity. Along these lines, there is such an incredible protection from the advancement of bitcoin

[wow.magic]

National governments have banned bitcoins because they have not found a way to collect taxes! Bitcoin and altcoin are more risky in the growing phase!

I think government wants to kill bitcoin is they want to control the transaction of money, but if bitcoin they cant track the transaction of money because it's a digital currency.

[tarpa07]

I think this is for bitcoin threat. Threat and lack of knowledge about bitcoin or they won't understand what bitcoin really is. Bitcoin is a digital currency which is impossible to control by a country or group of the country. Bank will be useless if bitcoin used by all people over the world. Tax also a fact here.  But bitcoin has a big chance to be only one currency for all trade and economic activities.

[hot_ads]

The BTC is poorly regulated, and any ordinary person can encrypt his or her hair, making it easy for investors to lose money, so the government currently bans encryption.

[thevlox]

The government wants to kill bitcoin because the government wants to control it like other cryptocurrency. It wants to take tax.

[2@abcdeeply]

Because BTC is anonymously, they may be the place where criminals work, in my opinion not to accept the BTC as being able to prevent criminals. They have a lot of ways to sponsor each other, not just the BTC

[Obito]

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.

Everyone has a lot of thing to do. There is one thing that may help is in our daily lives and this is bitcoin. Bitcoin are helping many people and it gives us an opportunity for us to have some money and the government is not agree with bitcoin. I think the reason why the government banned the bitcoin because it has no tax.

[Wonderced]

Because many people using that and used for scamming and credentials society, financing to other government and will happen to our bitcoin has been kill.

[sevenjoy]

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.

Aside from those illegal acts by lawless elements, the governments also want their own currency to only dominate the market so that they can fully control everything from us most especially all our centralized assets. Good thing about centralized assets is that they are pretty stable though lacks in privacy and security unlike Bitcoin wherein we can evade tax on every online transaction me made.

Its facts that we can't trace the transaction address the just for the sake of there country's development every government is not trying to stop bitcoin they want to kill it just for the safety of humans.

[BagzMM]

Government want to kill or ban bitcoin because they cannot control it. They cannot easily investigate any transactions for its anonymous to anyone. They are afraid because it could use for money laundering and illegal transactions.

[SeVenlast]

Not sure why the government hates Bitcoin but it seems they are afraid of the big losses it will get.