Why does the government hate bitcoin?

[ShowOff]

Government hates bitcoin because when you exchange it in a real money or i mean when you withdraw it, it has a same amount. there is no tax reduced from the money. it is exactly the same amount. that why government hate it because they can't get anything from it. i guess.

Maybe that is 1 reason, but government is not really that bad if only think about money. They have some reason maybe to make bitcoin illegal, or maybe not regulated in their country. Each country maybe have reason to do that.

[1715444886]

1715444886

[delphic]

 The main mission of Bitcoin was the idea of ​​returning full control over their financial assets to ordinary people, however, this goes against the plans of the “powerful”. Every 5-7 years, there are financial crises and the banks, as if nothing had happened, resorted to the financial assistance of the state (and this is our money with you - the money of ordinary taxpayers). Bitcoin can deprive banks and governments of such enrichment methods at the expense of ordinary citizens, ensuring full control of the latter over their funds and becoming a kind of “refuge” for people from financial crises and “legal” withdrawal of funds.
 Bitcoin has not yet been adopted, because the rulers are afraid of losing control over people.

[Haliburton]

I think that the main reason why governments hate Bitcoin so much, it's because Bitcoin poses a threat to their traditional economic system. Compared with Fiat, 1 Bitcoin is much more valuable than 1 Dollar, 1 Euro, 1 Yen, and so on. It's the world's most valuable currency to date, and a decentralized system for anyone to use at will. Given the benefits blockchain technology provides, it's no wonder why governments and banks have working together to destroy Bitcoin at all costs.

Their main excuse is that Bitcoin provides an open road for money launderers to conduct their illegal activities. However, that's not usually the case, since criminals prefer to use more Fiat than Bitcoin to do money laundering because Fiat is Fungible. With Bitcoin, every transaction can be easily tracked and audited via the blockchain, which makes the authorities’ work much easier. However, despite this reality, most governments want to simply ban Bitcoin usage within their region. On the other hand, there are other governments which have reacted in a friendly manner to Bitcoin and other cryptocurrencies. The US Government is one of them, which has recognized Bitcoin as a legitimate cryptocurrency for day-to-day transactions.

In some US states, it's already accepted as a currency that you could use to pay your taxes, which means that the US see Bitcoin more as a benefit to them than a real threat. Therefore, the reasons why governments hate Bitcoin are obvious, since Bitcoin is an alternative currency free from middleman. Unless, Bitcoin becomes extremely popular and adopted in the mainstream world, there will still exist governments that are against the original cryptocurrency.

[Gabah56]

because they are afraid. if people prefer to choose to invest and transactions using bitcoin bro. than investing in a Bank. and transact using paper currency ..

[stiffbud]

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.

What makes you think that a digital gold would prevent a fiat? There's nothing that shows that even a massively used crypto would stop a fiat from being widely used or even still mainly used.

Different government different issues and agenda with bitcoin and because of this they ban it in their country. Some government doesn't want some outside currency in their country in which they have no control. And Because of decentralised nature bitcoin is out of the regulations of  government. And this is one of the main reasons behind this. Another reason is tax. Because of its digital in nature its user does not pay tax to their government and this thing ultimately affects the country economy in a negative way and because of this also many government ban it in their country.

[voanquan]

Because Bitcoin grows freely and there is no law that can control it while popular use is risky for the economy of government is managing.

[knightmairesaint]

maybe the government doesn't understand bitcoin, as in my country it's still not permitted / banned on bicoin, but many have played bitcoin in my country, except in some parts the government doesn't know what bitcoin is, and I'm sure sooner or later they will know what it's bitcoin. and immediately permitted

If you will ask me why does the government hate bitcoin, as stated above maybe they do not understand bitcoin yes that is one of the reason and I think it is also because of some illegal activities using bitcoin and other cryptocurrency. As of now, I think Bitcoin is in discussion in every government meetings. Some countries who banned bitcoin is just want to avoid illegal activities that has a connection to it and to avoid their citizen to used it.

Hopefully in the future, many countries will believe and understand bitcoin as we do because even though it is decentralized still it can really help us to improved the economy of one country by using it properly.

[maaydin]

i  think   government   hate   bitcoin  because  they  think  that  they  are  going  to   be  decentralized  and  they  are  not  going  to  be  progressed  anymore.

[satosibtc1000]

Because the government is afraid of everything new, they do not understand its power and what independence from world currencies can lead to. But not all governments are afraid some are happy to meet him and understand that his future !

[cizatext]

Yes one the reasons government hate bitcoin is due to the fact that government can not control bitcoin and again since bitcoin is decentralized it very hard or impossible for the government to control or get involved in it activities, the government since it in total control of the fait paper money will never support bitcoin because bitcoin offer it users the total freedom over the financial transactions which do away with any third party involvement.

[Anish02]

There are many reasons are present due to that most of the countries government does allow permission on bitcoin legislation or they use to hate bitcoin. They think terrorist use it for weapons buying or people use it for money laundering or many illegal activities has become possible due to use of bitcoin.

[BitHodler]

Hopefully in the future, many countries will believe and understand bitcoin as we do because even though it is decentralized still it can really help us to improved the economy of one country by using it properly.

Governments do understand Bitcoin, which is exactly why they are so afraid of it. I don't think we should wait for the government to reconsider its stance on Bitcoin, but start doing things on our own.

Bitcoin allows basically anyone to use it without asking for permission, and here we are still waiting for daddy government to approve something we definitely don't need their approval for. We really have that power now.

Another thing is that governments will tokenize their fiat currencies, so what do they need Bitcoin for? Their tokenized fiat has nearly all the benefits of Bitcoin, plus it's completely controlled by them.

[Ekimzjames20]

There are many reasons are present due to that most of the countries government does allow permission on bitcoin legislation or they use to hate bitcoin. They think terrorist use it for weapons buying or people use it for money laundering or many illegal activities has become possible due to use of bitcoin.

Yes government think that it is used for eligal transactions. And also they can't get taxes in bitcoin, thats's why they hate bitcoin.

[creeps]

Honesty, accountability and lack of control. A lot of Politicians are scared of transparency. They can't tax crypto either which probably scares them a fair bit

Exactly, transparency and taxation can be a big thing to be consider for a politicians and they really hate this one because of that. Government keep on discouraging people to invest in cryptocurrency because they said, its too risky to put money in cryptomarket but in reality they are preventing people from realising how good this market is.

Later on, government will be no more choices but to adapt this technology and this will happen around the world. Cryptocurrency will still become a big factor in a world financial system.

[rodskee]

Not all government of every  country are hated bitcoin as currency
United States of America aren't hate bitcoin as new decentralized currency
But united state want bitcoin become centralized as regulated currency for the safety of the hodler's economy
Supposedly bitcoin is a new gold came from the new technology

[chickenado]

Honesty, accountability and lack of control. A lot of Politicians are scared of transparency. They can't tax crypto either which probably scares them a fair bit

Exactly, transparency and taxation can be a big thing to be consider for a politicians and they really hate this one because of that. Government keep on discouraging people to invest in cryptocurrency because they said, its too risky to put money in cryptomarket but in reality they are preventing people from realising how good this market is.

Later on, government will be no more choices but to adapt this technology and this will happen around the world. Cryptocurrency will still become a big factor in a world financial system.

This time  the government is so hesitant to adopt because of the different platform bitcoin and crypto currency had, but later on time the government some governments will adopt because it will become a norms and many countries  will also adopt it.

[airdagon]

ye, it's really simple. we all determine the value of bitcoin, trade, investment, even every transaction, then it creates volatility, and we take profit from volatility.

precisely, with decentralized, and not controlled by authority, bitcoin becomes very safe from hacking. hackers might be able to go to see each transaction block, but, they cannot to solve each block puzzle.

[andylioe78]

In my country bitcoin is still not permitted / banned, but many have played bitcoin in my country, but I'm sure sooner or later they will know what bitcoin is. hopefully next year bitcoin is not banned.

[triciaa478]

Bitcoin purpose was not created to defeat the idea of using fiat currency but as a peer to peer transactions over the internet, but now government is afraid it might get out of hand to compete with the fiat currency which he uses to control the masses. Hence the hate of bitcoin by the government.

[SandraStark]

Very many titled economists have serious hostility to bitcoin. Whenever such an economist talks about bitcoin, he always finds something negative to say. Some of these experts say that cryptocurrency has no future at all, while others claim that it is pure evil. It's simple!  According to them, cryptocurrencies interfere with the work of the government to regulate the currency in order to ensure greater stability for the economy. They also clearly believe that the government should be able to decide what is legal and illegal. In other words, these economists would like the government to be able to fully regulate the economy, and they see bitcoin as a possible threat to this philosophy.