Why did the government want to kill Bitcoin?

[Ilekoyafemi]

I think government want to kill or ban bitcoin because they have tried to have control over it but could not. Government see Bitcoin as a threat cos its running on block chain technology that no one has control over.

[edzleochico6]

In my opinion,why did the government want to kill bitcoin because some of the transactions here are illegal like purchasing weapon, , fraud, scam, hackers, and money laundering. It will be a big threat to our country and citizens security. But I hope one day government will seee the brigther side of bitcoin and see how they can contribute in

[Impulseboy]

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.

I dont know if I agree with you on this. Long before cryptocurrency exist, each of those who wanted to commit a crime have been trying to find a way to fund their plan without the government or the police force knowing. Although it is true that bitcoin could easily be used in everything that you have mentioned, I think a bigger reason why the government want to kill bitcoin is because they do not have control over cryptocurrency. They are threatened by it because it is running on blockchain technology and no one has control over it.

[hardewale148]

I guess they want to control bitcoin like note currency or they do not want the entire time society to become wealthy through the investment..it may also seems a way to decrease scammer and hacker, or to lessen it price...

[Eigig]

The government want to kill bitcion ,because they are furious about bitcoin, if the bitcoin will be legit the government will regulate the bitcoin abd othe cryptos and they want bitcoin to be centralized like the fiat money.

[SushiMonster]

I think they didn't necessarily want to kill bitcoin but to limit it and tax it because a lot of transactions that weren't covered by the government didn't have the chance to tax it. If you try to have it tax per transaction, they would want that and not kill it because everyone knows it's the future of transactions. Bitcoin is the mother of all cryptocurrencies and some companies have started accepting it so it will soon be regulated in some way.

[lepeirisjs12jsjs21]

That is just a piece of your comment, the government isn't interested in BTC because it has not actually made a profit on their side. Bitcoin itself is not bad, but its exploiters are for personal gain for illegal purposes and it makes the BTC a danger to the government. Sadly, but let's have a general look and use the BTC in a clean way, in the future it will also be globalized.

[teterinal]

It's because they can't make money out of bitcoin. We see gambling establishments, smokes, liquors to be continued which really are not good for the people but why is still here? because the government makes mooney out of this, probably bribes from gambling places, taxes from smoke adnd liquor. Plus bitcoin will be a threat to them since it doesn't need any authority to be used.

[Virtual miner]

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 you are completely right. But I think there are some more reasons like:
1. The banks and other financial institutions will lose their share in the market as cryptocurrencies establishes a direct contact between the users.
2. The government will lose its control from the financial sector of the country.
3. In addition to money laundering and terrorism acts, cybercrimes are also increasing as they provide a way for exchanging advances of cybercrimes.

[jaaeeeyyyy]

They dont want bitcoin to replace FIAT as they dont have control with this currency.
They dont want bitcoin to be a part of corruption and war funds.
Bitcoin have 2 sides of effect a good and bad.

The government some hows lack of research, or they merely focuses on negative outcome. As we dig deeper we can see that the main reason why humans are doing bad thing is that, they do it in order to provide for there finances, money is the number one problem. And with this bitcoin is a good place in where you can get income, as a matter of fact it can provide your needs without doing a lot of effort, that is how bitcoin works. And with this people who do bad things may decrease its number, because they already have a place or a medium in where to get money. Bitcoin is a big help for everyone.

[nmgfsdnfgwjio]

The fight against Bitcoin and other virtual currencies is because the money is being used increasingly by criminal organizations. At the end of January, the Russian central bank also said that Bitcoin transactions are mainly speculation and that the currency is always at risk of devaluation.
But as I see the bitcoin investment is not bad, mainly due to risk. If you are persistent, you will be better and better than you are.

[icreative998]

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 you're right because bitcoins are really hard to control so most countries want to ban it, they give bad news to people to boycott it. But in fact many people know the true benefits of bitcoin so it is still growing and surviving. So let's try to believe in a good future.

[Himanshu111]

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 you're right because bitcoins are really hard to control so most countries want to ban it, they give bad news to people to boycott it. But in fact many people know the true benefits of bitcoin so it is still growing and surviving. So let's try to believe in a good future.

The main reason why the government wants to kill bitcoin is that bitcoin is decentralised and no central bank or government has any direct control over it.Only the user knows about it.No tax is also implied on bitcoin.To store bitcoins you have the Bitcoin Wallet in which you can store any amount of bitcoin.One can transfer any amount to anyone.The transaction is known only by the donor and the receiver.This can be used by terrorists,corrupt politicians,criminals etc.It has more disadvantages than advantages.

[hua_hui]

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 you're right because bitcoins are really hard to control so most countries want to ban it, they give bad news to people to boycott it. But in fact many people know the true benefits of bitcoin so it is still growing and surviving. So let's try to believe in a good future.

The governments want to control the finance of their own countries and bitcoin is definitely stopping them from all these. without these capability, it can really put the country in the risk of losing a certain percentage of the their gdp.

[doroshok1]

The government doesn't like cryptocurrencies because it can't manage them. And most importantly, taxes on cryptocurrencies do not go to the state Treasury, because there are no taxes.

[Bimaab]

One of the raisons for want they want that fall is that they don't get taxes from bitcoin like how they get with the banks, they are afraid that bitcoin is a really have alot of chance to kill them by killing the banks. Also, they cant control it by tracking the transactions. There are soooo many reasons why they try to banned it.

[suse100]

I would not say that the government (all) want to kill BTC. If they really want it - unfortunately thet can do it. It is sufficient to adopt a law on prison time for BTC trading and he will immediately die.

[EEE14]

Since a few nations think bitcoin is the place of awful folks, they may utilize the bitcoin to support the fear based oppressors, and they may feel that the bitcoin helps the tax criminals.

[samvel86]

Why? Well, because government is more beneficial to semi-literate, semi-afflicted and poor people, Bitcoin is already changing quality, it creates great opportunities for people regardless of national, religious, sexual or age-related affiliation.

[rudox]

Government want to control bitcoin and bitcoin principles is based on decentralization which is the main  stay of bitcoin.If the anonymity of bitcoin is eroded 
then there will be nothing like crypto again. The bottom line is that government is bringing the issue of bitcoin being used to commit evil  is not the main reason why they are after bitcoin.