Why does the government hate bitcoin?

[Dhoe]

what you mentioned is true and some countries even forbid the use of this bitcoin digital currency because of the influence of people who hate bitcoin. even though this bitcoin is a very good and very efficient digital currency.

In my opinion, the government hate Bitcoin Because they cannot regulate and control the Bitcoin. We know that Bitcoin is one of money digital which decentralized systems, means that Bitcoin stand-alone without any third parties who control and manage it.

[BIPBot]

I think it is because they differ on regulations, they have different policies . Government cannot control over cryptocurreny.

They can't cryptocurrency yet. Once they form regulations for it they might be able to see the potential they hold.

[BIPBot]

Simple. Its tax free and they can't control it. The government hate anything they can't control or make money from.

It is never as simple as that. You are making a statement similar to anyone else saying

"If you want to become rich quick buy bitcoins"

The government is corrupt. In more ways than we can imagine but, there is a good side to the government which may be in favor of bitcoin but lack the depth in knowledge to put bitcoin to good use.  

[BIPBot]

what you mentioned is true and some countries even forbid the use of this bitcoin digital currency because of the influence of people who hate bitcoin. even though this bitcoin is a very good and very efficient digital currency.

In my opinion, the government hate Bitcoin Because they cannot regulate and control the Bitcoin. We know that Bitcoin is one of money digital which decentralized systems, means that Bitcoin stand-alone without any third parties who control and manage it.

No one person controlling and managing an economy isn't the crux of the matter here. Whats important is transparency. If the world did not have rules, regulations, law and order in place. Do you think there wouldn't be any chaos. There needs to be rules, regulations, law and order but these mean nothing if there is no transparency.

[cafechino]

I think the decentralisation is main reason why the government is against bitcoin, if you want to use then you can, but it is not government responsible.

[AiBBio]

Every goverment likes control. Because control means power. And bitcoin just takes away this control and this power from goverment and gives it ti people.

[mongkie]

i dont think that all government are hating cryptocurrencies and bitcoin. some countries are fully embracing cryptocurrencies like venezuela, iran and japan. the blockchain technology is a technological breakthrough to improve the current payment system so why hate?

[BIPBot]

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.

What country do you live in?
Because that isn't exactly how it works. If you have paid excess tax they will refund you. I am not an expert in the matters of tax but I think you need to brush up on the tax laws of your country.

[BIPBot]

i dont think that all government are hating cryptocurrencies and bitcoin. some countries are fully embracing cryptocurrencies like venezuela, iran and japan. the blockchain technology is a technological breakthrough to improve the current payment system so why hate?

Not all countries. But there are some like India which are afraid of what kind of change cryptocurrencies might bring about. This could help curb corruption and endanger all the pockets of the politicians or the corrupt bureaucrats

[BIPBot]

They worry about the impact on their financial system in the event of a burst of Bitcoin bubbles and the resulting bad effects.

Could be one of the main reasons. This doesn't make the government bad. Instead this makes them a parent. They are trying to safeguard the interest of the people.

[enjotan]

The government does not hate bitcoin, the government is only afraid because Bitcoin can be used as a crime tool, such as terrorist funding, money laundering, and narcotics transactions. I believe that in the future the government will have a good solution and can legalize bitcoin.

[nahotachikwem]

Governments control fiat currencies. They use central banks to issue or destroy money out of thin air, using what is known as monetary policy to exert economic influence. They also dictate how fiat currencies can be transferred, enabling them to track currency movement, dictate who profits from that movement, collect taxes on it, and trace criminal activity. All of this control is lost when non-government bodies create their own currencies.
As such, Bitcoin is  decentralized. and not controlled by government but individuals. I think this is the more reason the government hate bitcoin.

[memecoin]

I do not think that the government hates or prohibits the bitcoin, just because of bitcoin's non-governmental controls should make those governments feel a sense of disagreement with the bitcoin's actions.

[feather7789]

i think the only reason is decentralization, it is a peer to peer transaction system and there is no profit to government from bitcoin so they are not accepting btc.

[blocklancer8]

The government hates bitcoin because the government cannot control bitcoin, systematic government management is disrupted by the turnover of bitcoin transactions. to prevent even the government from being able to so far in many countries, the government continues to monitor and pay attention to bitcoin.

[@JANIYAA]

Hi,

We all know BTC is highly liquid coin. So it can vary always. Most of the time Money will export or import so government have no proper plan to control that and regulate that so that can happen to inflation situation. So first government need to establish a proper plan by getting knowlagde of the fluents in cryptocurrency and then It will a huge advantage for the government.

Thankyou.

[yowelfree]

The government i think hate bitcoin because it is decentralized. Not controlled by the government but individual. Therefore, denying them access.

[IL_C0RV0]

The Government hate Bitcoin and other Crypto because they can't control it!

[Wonderced]

because many people in government doing a scam for people not know doing, and for that if other people know how bitcoin does government will destroy bitcoin.

[krishnaverma]

I do not think that the government hates or prohibits the bitcoin, just because of bitcoin's non-governmental controls should make those governments feel a sense of disagreement with the bitcoin's actions.

I agree with this. Government has very less control on bitcoins and thus it might be worried about illegal use of crypto. There are many ways in which crypto is being misused in different countries and that might be a concern for some of the governments .