Why government not take good step?

[rokon1234]

I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.

So, I think now the government should take a good step.What do you think about it?

[mk4]

Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.

[EdgeoftheContinent]

Government has no control over bitcoin so it scares them because they are use to having some measure of control over all financial sectors. Does it scare them enough to ban it or try to prohit it? Depends on where you live but it is obvious bitcoin channels the common desire for humans to be in control of themselves.

[xcaret]

In my country no bank will let clients send or receive cash to crypto exchanges .... very costly to buy or sell BTC now.
Not like before 2019
 I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .

[so98nn]

Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.

Bitcoin is biggest escape for black money holder or what can I say people who are too rich and want to avoid taxes will gamble their money into bitcoin very easily. If everyone starts to do this, or even a common man who is salaried but willing to spend his 10-20% of salary into bitcoin then government will loose big chunk of tax over the period if you combine whole nations output.

I am not sure if you guys are imagining exactly what I’m saying but this could be disturbing fact for the government for sure. So it’s notable why many countries are going against it.

[EdgeoftheContinent]

In my country no bank will let clients send or receive cash to crypto exchanges .... very costly to buy or sell BTC now.
Not like before 2019
 I think bit coin has now to many control from government. the fist is closing ,bit coin in bad spot .

Can you still access services like hodlhodl or bisq or are those also unaccesible?

[kolesozw]

Governments want to control and taxes. Bitcoin will almost help you avoid both, while you could achieve it 100% with truly anonymous cryptos, VPNs in a different location, VPS, DEXs, and more. Thus we will face more and more restrictions for more countries.

Why don't they step harder? Governments can forbid crypto but cannot stop it, so it could only give them a bad image.

[Bitstar_coin]

Government only do things that will be beneficial for the citizens, they will have to evaluate to see if having btc as a means of payment will be good for the economy, I don't think it is all about the price but how the whole economy will fit into using btc,
I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.

[Obito]

Government only do things that will be beneficial for the citizens, they will have to evaluate to see if having btc as a means of payment will be good for the economy, I don't think it is all about the price but how the whole economy will fit into using btc,
I think the government are considering alot of things, aside from not able to have control, they will also think about the people and businesses and this will work.

I would like to correct the part about government doing it for citizens, there is a hierarchy of those that are benefiting from government decision, on the top is the 1%, second is those in power, those with some money, the citizen and then the poorest of the poor. If they ever lay their hands on bitcoin, the reason for that is that they want to control the transactions that are happening in their country, you do not want a rowdy bunch of citizens so you will put a regulation to help them to be put in their place.

[LogitechMouse]

I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.

So, I think now the government should take a good step.What do you think about it?

I don't see a concrete reason why these countries are banning their countrymen from using Bitcoin or crypto in general.

What "good step" are you talking about that the government must do?? Regulation?? Possibly in the future but as of now, what governments can do is to just support them and those countries who banned Bitcoin from using must be removed.

[shahzadafzal]

To be honest this will never happen. Reason is simple taxes... you see on daily bases in any monetary transactions we are paying taxes to the government in one way or other. But in case of Bitcoin Governments will not have any chances of monitoring or collecting any such taxes.

So logically speaking Bitcoin is never going to be mainstream if governments not collecting any money they can't support public, they can't built any infrastructures. So if there's nothing for government they will not accept it, which make sense... so at the moment Bitcoin is just a store value. ATM The total market value of a bitcoin is very very small compared to major player of this "store value" game which GOLD.

Recently WSJ compared the market value of Gold  vs Apple vs Bitcoin



As of today Bitcoin market value is $609 billion. Still very very small compared to Gold.

[bL4nkcode]

I don't see a concrete reason why these countries are banning their countrymen from using Bitcoin or crypto in general.

Their word of mouth, is "bitcoin is used for drugs and illegal activities (use to support terrorism)", "decentralized nature", and "volatility" where in fact they're somewhat true.

But the question is why rich countries such US, Japan, and UK welcome bitcoin and other countries such nepal, china, bangladesh don't? I only guess is they only avoid responsibilities and the works behind it and ofc the control over any currency, which they can't on any existing cryptocurrency.

[Hippocrypto]

I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.

So, I think now the government should take a good step.What do you think about it?

The authority should dig deeper what's advantage with bitcoin, banning or making it illegal won't help us grow or even make our economy better. Nowadays, people seems to be watching out the benefits that they've been experiencing though Bitcoin's convenience in terms of profitability. Even though they can't control this currency, but every person would always tend to spend their money came from bitcoin into taxable product which needs fiat money to purchase with.

[meanwords]

Less ways for the criminals in getting some options I guess. Countries that banned cryptocurrencies are probably playing safe and afraid of the risk of using cryptocurrency. It's not like there's a lot of them though and as time goes, there's going to be one or more countries that will legalize Bitcoin when they see other powerhouses utilizing Bitcoin.

[Bitcoin577]

Yes you are true. Bitcoin is not legal in many countries. Reason is only that Government has no control over bitcoin market. And also Government want that peoples tradung on the way which help their state bank ko grow so if people trade on cryptocurrency they will not getbprofit from people trades as we know bitcoin is totally decentralized system.
Some countries is in favour of bitcoin but most countries should support bitcoin to make it legal for payment system.

[ReiMomo]

Simple, the reason why the government did not adopt cryptocurrencies is that they don't have full control over bitcoin. Through this, they can't force to implement to pay tax those bitcoin holders or users. That's why the government cant adopts cryptocurrencies.

But there are some countries that are bitcoin-friendly, they recognized bitcoin as an alternate mode of payment or they recognized this as also a very risky form of asset. Besides, in my country, they had warned our people to be careful of investing in bitcoin but they never adopt it or even start to take a good step which is we understand the causes.

[Latviand]

Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.

In bitcoin, you really have financial freedom and you can't do what you want with your asset.

The reason why government is prohibiting it is that they can't take benefits from it from other people.

They can't collect taxes from it which is not an advantage for them.

But government should see the benefits and advantages of bitcoin in the economy and market.

[Natsuu]

Kinda obvious why some governments would want bitcoin to be banned/illegal — it's simply a currency they have no control of, and can be pretty anonymous if you know what you're doing.

Indeed, crypto is a currency they really have no way to handle, those illegal transactions can be made. When I said illegal I mean ILLEGAL like drug payment, etc. They obviously concerned about the breach in security, and I think they might found solution in this problem as they are in need to adopt to this as crypto is arising exponentially high in these coming months and years.

[takngantuk]

I khow many countries government are not allow bitcoin.nowadays bitcoin became very popular and country can move forward as a result of using cryptocurrency.

So, I think now the government should take a good step.What do you think about it?

what steps do you think they should take?
fully legalize crypto/bitcoin?
I think that's impossible, because crypto is decentralized. meaning they can't control it. and it could be that in the future crypto will have a negative impact on them. by not accepting or forbidding it like this was more than enough.

[XZERO1]

So, I think now the government should take a good step.What do you think about it?

They should, but they never will.

That way their one of the main sources of income and control over people(banks) would be almost useless, cryptocurrencies takes the control from governments and give people a decentralized way to make transactions without governments tracking their every move, and they also make transactions in a way that is cheaper, faster, more private and secure and without any restrictions regardless of where you live or where in the world do you want to send your funds to.