Why did the government want to kill Bitcoin?

[Osamede]

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.

They know the truth that these are false allegations, Many Governments are against bitcoin because they are losing grasp of their currencies and fear people might easily go for the alternative- bitcoins

[Osamede]

The government from time has been an enemy of bitcoin and ready to discourage people from using it. Bitcoin is a decentralised platform and ready to flaw all national and financial laws, so the government will not allow it run.

They figured they cannot really compete, all the characteristics of money are perfectly highlighted with bitcoins- portable, durable, divisible, counterfeit proof, scare  etc

[Dulhara githmanthi]

  Yeah lot of the countries' governments wants to kill the Bitcoin. But I think it is very old generation thinking. Because crypto coins take place the most important place. There are main reasons for the government trying to ban bitcoin. Among these reasons, Drug dealings and Weapon dealings play the important character. All the transactions cannot be tracked.  So why governments try to ban Bitcoins.

[aryani]

Because bitcoin prices are unstable, can rise and fall quickly in a matter of time, of course this is very dangerous which can disrupt the stability of the banking system and also threaten the country's economy.

[TobMarshall]

The government fear for it country future. You mentioned great points there. The government is responsible for the security of it nation and so the disadvantage bitcoin offers can actually cripple a nation if not we'll handled. Terrorism is not good for a nation, and yet bitcoin can allow it financing. There is no regulations for it volatility and so if accepted and this volatility occurs it can useless the market system. The government also fears because currency is one main function of a nation supremacy, allowing crypto, hijacks that and so they fear. Well that is what globalization can do, I believe the best the government should care for is how to curb/manage the menace of crypto disadvantage in each nation.

[deda123]

yes those that you count down are some of them true  and  i think that the main rrason is thet the government can not control this market and also it affects the economy of a country.

[matutana10]

The government thinks that it is risky for the security of the country and they want to ban.

[Gamerholic]

In the world, competition for the finances of the world economy becomes more acute. Money loves not only silence but also stability. Bitcoin and the world of crypto-currencies in general have shown results and have given an occasion to consider themselves as if not quiet but still relatively relatively understandable harbor. So how many governments of different countries will not try to subdue a blockchain - it is unlikely to succeed.

[macartem]

In the world, competition for the finances of the world economy becomes more acute. Money loves not only silence but also stability. Bitcoin and the world of crypto-currencies in general have shown results and have given an occasion to consider themselves as if not quiet but still relatively relatively understandable harbor. So how many governments of different countries will not try to subdue a blockchain - it is unlikely to succeed.

I fully agree with you. The government will never be able to do this, but they will try ( but still I think they will accept bitcoin some day

[bloodyvio]

because they can't control it
and of course because bitcoin has the potential to kill banks
that's why they don't want it to happen

[wallstone]

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.

Well I think its because they are not able to control it and we all know that bitcoin has the great potential to kill banks. Since bitcoin is decentralized nobody can control it , I think they just dont know anything about bitcoin but they really want to destroy it.

[fidelium1]

I won't blame the government so much for trying to do everything to kill bitcoin, the government reckons that if bitcoin is allowed to enjoy a very smooth sail, a lot  of people will avoid the banks and embrace bitcoin instead for trans-border and even some local transactions thereby reducing the bank's earnings and consequently a reduction in government's revenue from the banks. The fact that it is difficult to tax businesses done with bitcoin gives the government another reason to want to kill bitcoin, government lose money when businesses are done with bitcoin.

[splash914]

The whole thing is in power. The modern financial system belongs to a very narrow circle of people. It is more accurate to say control it. And these people are extremely uncomfortable that such a thing as bitcoin, which is capable of harming them, would break through into the masses among the people

[FO4R]

The government has no controlled about bitcoins.Since bitcoin is decentralized,any government or even legislative sectors cant handle and regulate these cryptocurrency that may triggers the government to kill or regulate the use of bitcoins.Legislators are finding ways to regulate the use of bitcoins in different transactions.And when the government has the controlled,surely bitcoins will be regulated and manipulated by local legislators.

[Ethan Argu]

Bitcoin is decentralized so goverment can't control it in my  opinion if goverment has a control of it atlease little for authoriry for the act of any crime i think they can destroy if they trace that bitcoin will use in bad habits. They want to protect thier country i understand. So use it wisely we can earn in a good way.

[jpnl0003]

the government has always seen the bitcoin cryptocurrency paradigm as a framework of the technological and decentralized system that does not work with regulations and that alone has threatened the totality of the government policies and they seem not to be comfortable with it so they try to want to kill it

[lekam0213]

I guess they wanted to control bitcoin  but they can't, before many use bitcoin like what you have said but as bitcoin became known it lessen the btc involvement with that matters but sad so say that if some people really want to use it for their illegal transactions they still can because it is still untracesable so it might be one of the government concerns why some banned btc.

[menoharrison]

The government is responsible for the security of it nation and so the disadvantage bitcoin offers can actually cripple a nation if not we'll handled.

the government has always seen the bitcoin cryptocurrency paradigm as a framework of the technological and decentralized system that does not work with regulations and that alone has threatened the totality of the government policies.

[khaled0111]

Don't be too stupid, bitcoin is as any other currency and can be used to finance illegal activities as it can be used to finance charitable organizations.
Bitcoin is a currency si treat it this way. Don't listen to stupid people saying bitcoin is a threat.

[Shiro21]

I think some governments have no choice but to not legalize bitcoin in their country, this is done to avoid the fall of the national currency and a number of criminal cases. but some countries have also begun to open up on this cryptocurrency innovation, with the growing development of bitcoin and the growing popularity of bitcoin enthusiast, it does not rule out the possibility that bitcoin will become a global currency.