Bitcoin and her sisters: Why do most governments hate her?

[Lucius]

The real reasons why governments hate crypto like bitcoin because they cannot make enough money by collecting taxes. Since it is decentralized, means no one owns and controlled. If there is no demand for their currency and people are hypothetically buying crypto then those governments/countries will go bankrupt.

Who says they can't do that? Income taxes are quite high in some countries, but regardless of that percentage, anyone who buys or sells cryptocurrencies through centralized exchanges has made KYC and will sooner or later come under the radar of the tax administration. See the example of Turkey where cryptocurrency trading is allowed but banned as a means of payment, which means that one of the reasons why Bitcoin exists is disabled by ordinary law.

This does not mean that person A cannot send BTC to person B, but it does mean that no legal entity may sell goods or charge for services in any cryptocurrency. Every government has a number of mechanisms in place to regulate the way cryptocurrencies are used, the only question is to what extent they want to use those mechanisms.

[YOSHIE]

In general, most countries in the world deal with popular digital currencies, such as Bitcoin and Ethereum.

You do good there are still people who hate you, what's more you do bad more people hate you, that's the meaning of world life, the core of the problem is (Lust).

Bitcoin & Ethereum are coins that are liked by many people, both from the low class to the classy class, Bitcoin & ethereum, no matter what tribe or nation they come from, both always make people happy in general from an economic point of view, no wonder negative and hateful news always appear for both of them, those who hate Bitcoin & Ethereum not from their heart but from their mouth, in essence they don't hate Bitcoin & Ethereum, but they hate themselves from a greed point of view.

[Luqman]

First of all, I am sure that it is about decentralization and centralization.
You know, government will love something centralized that they can control and amange. But it will be different from Bitcoin in which is decentralized.
So, the government may use this issue to influence that decentralization means that they have no guarantee or even will not take responsible if something happen. Andworse, they make certain FUD about the danger of something decentralized, moroever not real and we cannot hold by hands.
This is the most thing that I haveheard so far.

[Cookdata]

There are facts we should take into account, if the government had been able to get their dirty hands on half of Bitcoin's circulating supply, it would have been another story we would be hearing on the news today, but Satoshi was for the people and for the people, and they are not happy about that.
We don't know how certain bitcoin and decentralization will be in the future, but one thing is sure, we will get bitcoin into every home, and many trillions will be injected from their useless fiat to give bitcoin more value than it has ever had.

[romero121]

The real reasons why governments hate crypto like bitcoin because they cannot make enough money by collecting taxes.
(...)

You got a point here, this can be considered one of many reasons. The power of decentralization will eliminate the third party because what we are right now for example is the traditional banking, here are the banks and governments. It is also one of many reasons why Bitcoin is created, to be your own bank.

Yes, no countries have developed the perfect framework for the taxation of bitcoin and other cryptocurrencies. Everything is made upon some collective measures of adding bitcoin to the category of gold and property. Some countries to restrict the usage of bitcoin tax them heavily without revealing any proper statement on whether the usage of cryptocurrencies is legal or not. Every measure over bitcoin is to keep it under control, but it isn't possible. This makes the government hate it.

[bitterguy28]

Can anyone make digital coins? I don't know. What's its circulation mechanism? And who's her guarantor? I don't know.

That's how a pedestrian says on a street in Cairo, echoing questions that many might think of. But what if governments make these coins? The verse may turn.

In general, most countries in the world deal with popular digital currencies, such as Bitcoin and Ethereum.

https://www.nwscoin.com/2022/03/bitcoin-and-her-sisters-why-do-most.html

are you promoting that Site? because checking all your post? everything is just a shared article and from that same site posting over and over.

Am not sure what is your main intention here but what i see is that you are just promoting the site and nothing more.

and also for all the thread you created? never that once you come back and post again in that same thread.

[rjekerdomin]

Some governments hate cryptocurrencies, and some governments support them. Major countries generally resist cryptocurrencies because they want to issue their own national digital currency. There was a lot of money laundering through cryptocurrencies before, and the government didn't want to see that.
Bitcoin has grown up to now, and the government has been unable to "kill" it. Cryptocurrencies can only be banned over and over again.

[worle1bm]

The real reasons why governments hate crypto like bitcoin because they cannot make enough money by collecting taxes. Since it is decentralized, means no one owns and controlled. If there is no demand for their currency and people are hypothetically buying crypto then those governments/countries will go bankrupt.

Banks have setup huge customer satisfaction base and they are running the monetary system of the country so it could never go bankrupt easily if we look at the big picture.The people are getting interested in crypto like bitcoin but that does not dilute the use of Fiat as you still need it to buy them and the whole payment system of country works on it as it is legal tender and you can't survive without it.So the use could be affected but fiat will remain here for long term.

[tygeade]

The real reasons why governments hate crypto like bitcoin because they cannot make enough money by collecting taxes.
(...)

You got a point here, this can be considered one of many reasons. The power of decentralization will eliminate the third party because what we are right now for example is the traditional banking, here are the banks and governments. It is also one of many reasons why Bitcoin is created, to be your own bank.

But there wouldn’t be a time that everybody would be making use of Bitcoin right? It’s just going to be that there would be those who would choose to make use of Bitcoin and there will also be those who wouldn’t want to make use of it. There are those who would prefer to make use of fiat, same way there are those who prefers Bitcoin.

So, it shouldn’t really be that much of a problem right? But the government would always want everything to benefit, and with the level of misconception that they are having about Bitcoin, it’s part of the reasons why they are always acting against cryptocurrency.

[avikz]

Can anyone make digital coins? I don't know. What's its circulation mechanism? And who's her guarantor? I don't know.

That's how a pedestrian says on a street in Cairo, echoing questions that many might think of. But what if governments make these coins? The verse may turn.

In general, most countries in the world deal with popular digital currencies, such as Bitcoin and Ethereum.

https://www.nwscoin.com/2022/03/bitcoin-and-her-sisters-why-do-most.html

As a government you would also hate things that you can't control. That's the simplest explanation why governments hate digital currencies decentralized in nature. They can't control its creation, its circulation, its usage and moreover they can't track the transactions. So there's no way for the government to love such a technology that takes back the power from their hand and gives it to their citizens. It's no fun for the government and especially the central banks.

[KaliLinux]

The real reasons why governments hate crypto like bitcoin because they cannot make enough money by collecting taxes. Since it is decentralized, means no one owns and controlled. If there is no demand for their currency and people are hypothetically buying crypto then those governments/countries will go bankrupt.

I will agree with your argument there because we understand that if the government wasn't against Bitcoin in most countries, most if not all will have their funds in crypto assets instead of fiat banks however we can also note that because most of our daily needs still cannot be bought directly with BTCs we might still end up using Fiat currencies in most cases.

[Webetcoins]

The government will always hate what they can’t control, they would want to be in control of everything. And if they are not in control of anything, they would try to stop it, which is what they have been attempting to do for long now since Bitcoin was created. And they also believe that Bitcoin is a bad currency that is being used for illicit activities (a lot of people have been made to believe such).

And apart from that, they also believe that Bitcoin mining is harmful to the environment, because of how the PoW works. Some cryptocurrencies has been switching to PoS because of that, we don’t know if that would be the case with Bitcoin.

[Doan9269]

Can anyone make digital coins? I don't know. What's its circulation mechanism? And who's her guarantor? I don't know.

That's how a pedestrian says on a street in Cairo, echoing questions that many might think of. But what if governments make these coins? The verse may turn.

In general, most countries in the world deal with popular digital currencies, such as Bitcoin and Ethereum.

https://www.nwscoin.com/2022/03/bitcoin-and-her-sisters-why-do-most.html

It such person is in his right senses then he should be able to see one or two people  to help him out in giving a substantial information/education  on what bitcoin is and has come to offer, dont be surprised that the far you go the more you see and having  heightest qualification in education or any professional relevant bodies doesn't mean you have known it all, knowledge is a continues learning,  such individual  need to know that bitcoin offers freedom and independencey on government and its respective  financial  regulated bodies, one can make transaction in it simplicity, reliability,  fast and in a well securr d platform  other than the traditional fiat system and very soon the metaverse technology  will begin unfolding.

[mm2543363580]

The government will always hate what they can’t control, they would want to be in control of everything. And if they are not in control of anything, they would try to stop it, which is what they have been attempting to do for long now since Bitcoin was created. And they also believe that Bitcoin is a bad currency that is being used for illicit activities (a lot of people have been made to believe such).

And apart from that, they also believe that Bitcoin mining is harmful to the environment, because of how the PoW works. Some cryptocurrencies has been switching to PoS because of that, we don’t know if that would be the case with Bitcoin.

BTC mining is harmful for the environment but factories established in regime of every government that is polluting air and water 24/7 have nothing to do with environment. It's just hypocrisy nothing else.

I do agree with the fact that governments of all big powers are against btc since they can't control it. Currencies like XRP, BNB, USDT which are centralized have zero opposition from governments.

This opposition is not limited to btc, if you are journalist and speak against government you will face same opposition as btc is facing since its inception.

[evilgreed]

               Wow, you literally just placed a gender on some digutal assets. 😅. This hate that you are talking about has been going in ever sincr I can remember and has already been talked about dozens of times here. And the anwers we get are almost the same every time. Which is greed, selfishness and control. And now op, I am telling you, unless bitcoin gets fully regulated, this hate will never disappear which will implicate other altcoins as well which us Ethereum and the others.

[Woodie]

I do not want to look at this as hate but ideally all our governments are based on control.... If a government can not be in charge of something then its not in their best interest as they can not really monitor it, and bitcoin being a decentralized asset does not sit well with our governments either but because people have the most interest lets just say they have turned a blind eye on it.

[coinism]

The government is just too afraid that more and more people will commit crimes through cryptocurrencies, in fact without cryptocurrencies criminals still happen.
As you said the government should also create their own coins because now the era is all digital. If any government created their own coin then those coins could be sold out in the crypto market.

Criminals first choice is still fiat no matter how anonymous and secure crypto is. So we can't say that due to this reason government is not in favour of crypto.
Moreover there are centralized crypto like xrp, usdt and more that are under control of centralized institutes like banks. The point is centralized cryptocurrencies are just digital tokens not part of decentralized cryptocurrency family whose foundation were laid by Satoshi.

[adzino]

Can anyone make digital coins? I don't know. What's its circulation mechanism? And who's her guarantor? I don't know.

That's how a pedestrian says on a street in Cairo, echoing questions that many might think of. But what if governments make these coins? The verse may turn.

In general, most countries in the world deal with popular digital currencies, such as Bitcoin and Ethereum.

https://www.nwscoin.com/2022/03/bitcoin-and-her-sisters-why-do-most.html

Yes, anyone can make digital or crypto currencies. The circulation method and everything is predetermined. In a decentralized network, everyone involved is her guarantor.
Now if a government make these kind of coins, it is very highly likely going to be a centralized coin. In this case the government will control the supply and be the guarantor. This gives the government the power to control everything. But in case of bitcoin and most alt coins being decentralized, the government has no power over it. Hence they hate those decentralized coins.

[taufik123]

Yes, anyone can make digital or crypto currencies. The circulation method and everything is predetermined. In a decentralized network, everyone involved is her guarantor.
Now if a government make these kind of coins, it is very highly likely going to be a centralized coin. In this case the government will control the supply and be the guarantor. This gives the government the power to control everything. But in case of bitcoin and most alt coins being decentralized, the government has no power over it. Hence they hate those decentralized coins.

bitcoin has become a decentralized coin that will not be fully regulated by the government. This is why Bitcoin is able to survive despite inflation, because Bitcoin will not be regulated by anyone. They can only manipulate it but it won't affect 100%.
When governments start issuing or building their own coin that sits on top of a cryptocurrency platform, it will become a fully regulated coin, but so far no country has started building their own coin. Because the government doesn't want to get involved and they only provide regulations on the use of cryptocurrencies.

[Slow death]

I will speak based on the attitude of the government in my country, in my country the government controls everything, it controls how much money the opposition parties have, and at the time of elections the opposition parties do not have the money to campaign. Now let's imagine that an opposition party gets 100.00$ and invests in bitcoin and months later this value becomes 10 times more and they take this money to fund the election campaign, the chances of this opposition party winning the elections are high. so bitcoin is something dangerous in certain countries where the political system is to control people