Why does the government hate bitcoin?

[Rafiqul]

I think the feeling is not the hate, it is fear. The goverments and the bank doesn't know how to act against the cryptocurrency.. That's why they act weird like this. I belive that the goverments will find new taxing system for cryptos and all the problems would solve that time.

I am also feeling same. I think today or tomorrow government must be accept cryptocurrency. Already some countries have accepted it.

[candra raditya]

I think the reason is, bitcoin is difficult to control and it's very difficult to apply taxes in every bitcoin transaction. The government also considers bitcoin as a threat to fiat, and therefore the government hates bitcoin.

[Rozita]

It is not as simple as "The government likes to control and tax the movement of money" that makes them seem evil or greedy. The truth however is that if all currencies are decentralized, who would determines their value?
Bitcoin is only in the virtual form, how can we protect oourself from hackers or technical glitches? These questions are just some of the reasons why there is no telling what the future of cryptocurrencies holds, but it isn't wrong to say that Bitcoin and other cryptocurrencies will not be replacing government-backed fiat currencies any time soon. This however does not mean that there isn't a future where cryptocurrencies will be treated as regulated global currencies. Of course if we include the corrupt institutions, politicians then we can say the government is evil and greedy.

For bitcoin to become truly succesful it must be both a medium of exchange and a reasonably stable store of value.

You are right.
Change in value of the local currency  has happened many times in developing countries and has affected their economic. But developed countries usually are able to control the value of their currency. Assume that the fiat is replaced by a currency which is out of their control. It's normal that they don't want it.

[Quennlorna42]

the government hate bitcoin because a decetralized currency is a cryptocurrency used once in scammer. last year I watched the news a bitcoin was used in the bust, so in that way the government also thinks that the bitcoin is a scam. Most people are in trouble with money they do not know that they sometimes damage the country's economy. and the bitcoin they use to crush on fellow humans. thats why government hate bitcoin. but I know sooner or later that the bitcoin will also recognize everyone as a great cryptocurrency at all.

[Surge_Dev]

Does it ? i don't think it hates in reality, it is just some fear because btc may bring great changes and they aren't ready for them and this will lead to some new future they didn't plan

[setialovers]

Federal governments have reason to be against bitcoin and decentralization. Digital gold would prevent governments from magically printing money while digging the debt hole. Their actions and transactions will also be transparent thanks to blockchain technology, and they're not always honest. News platforms will be decentralized, decode hidden agendas..Often involving bad propaganda from governments.

I am agree with your opinion. Most government and central banks must be want to control money supply because money is a power. If bitcoin applied, government can not control the supply and government can not change transaction data. I think thats the reason why government againts bitcoin

[decentralvirtue]

Does it ? i don't think it hates in reality, it is just some fear because btc may bring great changes and they aren't ready for them and this will lead to some new future they didn't plan

The government hates what it can't control. Maybe not all governments but there are many. If you think about it people fear what they don't understand. This can cause them to react violently. In today's world that means hatred.

[AlonaCroll]

Value is something that is subjective, defined by everyone. If more people value it then, of course, the demand will increase. Perhaps the best way to illustrate the notion of intrinsic value is through gold. Any debate about intrinsic value will be incomplete without mention of gold. Ironically, if we look at gold, only 10% of the total supply of gold is used for real industrial and electronic purposes, while the vast majority is used to make jewelry. In short, the 'intrinsic value' that many people associate with gold is derived from the ostentation and 'perception that gold is more valuable than actual use. Bitcoin, though invisible, has a practical use case. Bitcoin has broken the traditional banking system with expensive intermediaries and long wait times. Values can be sent on a global scale with significantly lower costs and shorter time frames through a secure distribution network. The value of Bitcoin lies in its utility, its network, and its acceptance. With a fixed supply of only $ 21 million, Bitcoin is also protected against inflation. I think that's why the government hates Bitcoin.

[Danna Haisy]

Because it affects their profitability, as you know the government will rely on the central bank's receipt of interest, since the occurrence of bitcoin, it will threaten the existence of Paper money . So the government is always looking for ways to stop its development

[kalystatogi]

Currently the governments treat bitcoin as a commodity investment and hates it because it is unregulated and hardly inforce KYC or AML.

However, bitcoin is much more than this and supposed to challenge the fiat currency role of a country. The only reason for a fiat currency today is all about government funding, (over table) tax or (under table) personal wealth devaluation in favor of national debt. Assuming bitcoin wide adoption, governments would face difficulty about this purpose and obviously would hate bitcoin.

[MbakNarti]

Of course the government hates bitcoin, because the government cannot control bitcoin. In addition, the existence of bitcoin can disrupt banking stability in government that allows bank customers to switch to bitcoin investment, and more worrying about the government, bitcoin is vulnerable to crimes such as money laundering and some say it is a tool to finance terrorism activities.

[ganlianshifu1]

People can easily transfer property through BTC!
Some criminals use BTC for money laundering activities, and the BTC's trading government has no way to collect taxes. The government has no way to effectively supervise!

[Andrey995]

They usu to control everything what is going on inside of the country and crytpo is not so easy for this. People like their privacy and they want to be free with payments

[pungopete468]

They are actually not membence but more careful with bitcoin. because the price is very volatile and very dangerous and high risk therefore they are more cautious. is studying and will decide whether to approve or refuse

[pat4cryptoreal]

Government hate bitcoin because bitcoin will set all their slave free. 50% of the money we earn as salary is collected back by the same Government that paid us in the name of tax and bills.

[Jdleonor]

why does goverment hate bitcoin because the goverment has no tax here . and There are some reasons for the countries which are prohibiting Bitcoin .because didn't know what is it ?

[miltonpogi]

Only some government though. I think they ban or stay away from Bitcoin from the reason that they don't want people to get fraud or get scammed. But I don't think the government of US hate Bitcoin, actually they don't care because Bitcoin still relies on dollars.

[MainIbem]

The government have to hate bitcoin. Bitcoin is taking away control from government. Bitcoin is also taking away revenue from government. P2P transactions on the bitcoin network makes you save huge transaction cost and time if it has passed through the banking system. It is difficult for government to confiscate a citizens asset on the bitcoin network because only the holder of private key can access such assets. These and many more reasons makes the government hate BTC

[haidil]

The government have to hate bitcoin. Bitcoin is taking away control from government. Bitcoin is also taking away revenue from government. P2P transactions on the bitcoin network makes you save huge transaction cost and time if it has passed through the banking system. It is difficult for government to confiscate a citizens asset on the bitcoin network because only the holder of private key can access such assets. These and many more reasons makes the government hate BTC

I think it will not be forever that the government will hate bitcoin with a system like that. People themselves will use bitcoin with P2P transactions

[osmo]

I don't think all state governments hate bitcoin, which I know the Japanese government does not hate cyrptocurrency, the Japanese government supports it, maybe only some countries hate bitcoin, maybe they feel threatened by their interests with bitcoin