Why does the government hate bitcoin?

[Rooster101]

Not all governments hates bitcoin, Japan is one example, they legalized bitcoin instead of banning it. Other countries are not yet prepared to allow bitcoin to become of their optional currencies because of its decentralized nature. They might need more time to study it first like what will be the impact on their economies if they freely allow their people to use bitcoin and other cryptocurrencies in their transactions.

[1713452852]

1713452852

[BIPBot]

In my opinion why government dont like bitcoin because it has no tax. Government will like it if they can add tax to it every transaction. Specially on third world countries.

Not entirely. I mean tax can always be imposed on the transactions that take place.

[BIPBot]

Why does the government hate bitcoins? Bitcoin is a virtual currency that has not been properly authenticated. Bitcoin is also a trading currency for criminals so it is a threat to the government that makes the government do not like it. . So, in the near future, we need to rebuild the trust of the government with safe and legal trading, which in turn will make the government more secure and more stable.

This is the kind of thinking we need. The government isn't exactly our enemy. They are trying to protect us and bitcoin was used for money laundering. So when something is invented it can be used for good and bad. As you have stated we need to win the trust of the government back.

[BIPBot]

The government is not ready to take responsibility for what happens to the cryptocurrency market. they are less aware of the potential of bitcoin that can be given to the world. The government is also afraid of being threatened by things that can be done by bitcoin.

Exactly. There could be a rise in illegal activities, Rise in criminal organizations, Rise in money laundering. Think about it. There are multiple ways in which bitcoin can be used. But the negative effects can overshadow the positive effects. In order to avoid that we need to make sure that it can be regulated not completely. But at least place a few regulations that everyone can agree on.

[BIPBot]

Not all governments hates bitcoin, Japan is one example, they legalized bitcoin instead of banning it. Other countries are not yet prepared to allow bitcoin to become of their optional currencies because of its decentralized nature. They might need more time to study it first like what will be the impact on their economies if they freely allow their people to use bitcoin and other cryptocurrencies in their transactions.

Japan is an exception. There can be many more countries to follow. But none will unless their faith is put back in place. This could even be trust. A trust in the system. A sense of trust that no one will manipulate the system for their own personal gains.

[yanglei504]

Government hate Bitcoin because i think it can be more useful than the fiat money. They can't stop the bitcoin and they dont have income for every transaction in the blockchain. Some of the government employee know that bitcoin use as payment system in deep web so they afraid of it.

[parth11]

Hi
If I say about bitcoins, It's a virtual currency which moving fast and because there are no such bodies which regulate it so in sort there are no middlemen to run., So if I say why the government hates bitcoin as they don't access to regulate on bitcoin as the role currency plays in a nation’s monetary policy has the potential to have a far greater impact.
Thanks and Regards
Parth paul
https://www.onlineidealab.com/courses/digital-marketing/



 

[peymanrmi]

all governments all around the world from a democratic one to a dictator wants to have domination on people especially on their economy in which have a direct effect on their social behavior acc. to Marx theory

Bitcoin can eradicate this control and because of it governments hate bitcoin


of course, another optimistic reason for it is because bitcoin can use as an illegal currency that what governments say

[rommelo24]

You lost me the second you mentioned the United States. The United States definitely in no way hates Bitcoin. The US is supportive of it, sure they aren't quick to adapt traditional regulations for crypto but they definitely have no hate towards it. Bitcoin and crypto has already had state Governments allowing use for public things (in Florida you can pay for certain taxes with it), they have already been very promising exchanges and businesses. We haven't had any real sign of defensiveness about crypto from the US.

I think government does not hate bitcoin they are just making sure that the people's money are safe. That is why some government are strict in dealing with bitcoin acceptance.

[aray80]

A simple possible reason is that in every country that already has a currency that has been recognized globally and is a legitimate payment instrument, it does not want to change its currency with bitcoin

[Shafiqul Islam]

Governments can't control Bitcoin because many countries governments and banking systems can't get any fees and taxes from any transactions. As a result bank fears bitcoin and they think it reduces Fiat money.

[AiBBio]

Because Bitcoin makes a good competition to each goverment and takes its control and power via money.

[dimiinx]

actually it does not hate only this government does not understand and monitor the development that is currently developing and is thought to be detrimental to the state even though it is not and from that the government hates bitcoins that defeat real or real money

[John5826]

The government hate the bitcoin because it has no real value.It has only online value.When a man bye a bitcoin but he can not sell any time? and has no real market place.

[ansarose1]

I think i can see an angle why government hates bitcoin, i think the reason is that bitcoin may be use by the illegal person for transactions, and also bitcoin may be use as money laundering for possible.

[saumang2m]

The government therefore hates Bitcoin. Because the government is unable to control Bitcoin. Because of which the government can not recognize people using Bitcoin. And the government can not even stop illegal activities from Bitcoin.

[mriansa]

the government might be afraid of the technology that is owned by bitcoin, making the governments who often commit corruption experience fear if their actions are known by many people.

[fipper]

the government hates crypto currencies because they always think negatively of money laundering and fundraising for the future

[maianh09]

the government hates crypto currencies because they always think negatively of money laundering and fundraising for the future

You may not know that the government is also trying to create a strong Crypto market even though they issue bans. Governments are not stupid as to what you are thinking, and they are operating anonymously in the Cryptocurrency market.

[amar786]

Many of the asian countries have not enough technology of block chain to control the transaction of cryptocurrency it is still beyond the access of the some countries. Every country should adopt block chain technology after this they can handle the transaction and bitcoin should be accept as legal money.