Main reason government won't fully accept bitcoin

[Nrcewker]

Government is famous for imposing tax and to rule the way it likes. But thanks to Bitcoins for which, no people or government can know how many Bitcoins I have or I am holding. Due to the decentralised nature of the coin, only I will be able to know how many Bitcoins I have in my wallet. Government won’t accept the entities which they can control or manage, therefore in many countries government has banned the coins. But who cares, thanks to P2P trading, we can sell or buy the coins without the interference of the government.

[ilovealtcoins]

The kind of people we have in government are people who always want to fight for their selfish interests,  anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.

You are right, but you forgot one thing the government is also human, they also have greed and put their own interests first, if they accept bitcoin, it is like shooting themselves in the foot. But it doesn't matter if the government accepts bitcoins or not; I live in a country where bitcoins are not accepted, and I still use bitcoins without any problem. There are always ways to use bitcoin even if they ban them; bitcoin is unstoppable.

[BlockMinusOne]

This statement reflects a common viewpoint that some people have about governments and their motivations. It is important to note that governments and their actions are complex and can be influenced by a multitude of factors, including political, economic, and social pressures. Additionally, opinions about the use and acceptance of cryptocurrencies, such as Bitcoin, can vary greatly among government officials and the public. It is not accurate to make blanket statements about the motivations of all governments or individuals in regards to a specific technology or currency.

[Peanutswar]

As long as it doesn't affect the economy too much, the government will not touch this for a while but if there's an illegal activity with the use of the cryptocurrency or the bitcoin itself I guess there's a time they make an action like a ban of using of it they don't have full control with the bitcoin because we know its a decentralized but of course still they have the country to prohibit. using of it, in some point currently, they see bitcoin as the future like mode of payment and etc that helps for the economy.

[I_Anime]

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

Bitcoin being decentralized make it easier for the government to steal money is just for them to create various wallets and start sending the coins there. But there is one main reason why they don't like it and is simply because they can't control it

[Maxre]

The kind of people we have in government are people who always want to fight for their selfish interests,  anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.

There are many things and also dark secrets that are needed to be considered regarding why governments do not accept Bitcoin and crypto and these are described below as follows
1. ILLLETRATE  people in Law and In Courts
2. Governments ban crypto because they think that Bitcoin might dethrone their fiat crypto.
3. They also think that Bitcoin is a source of Black money laundering and that's the main reason behind this.

In some cases they are right and in some cases they are wrong too. In future this might be settled too.

[coinerer]

As long as it doesn't affect the economy too much, the government will not touch this for a while but if there's an illegal activity with the use of the cryptocurrency or the bitcoin itself I guess there's a time they make an action like a ban of using of it they don't have full control with the bitcoin because we know its a decentralized but of course still they have the country to prohibit. using of it, in some point currently, they see bitcoin as the future like mode of payment and etc that helps for the economy.

No one can control cryptocurrency, so every country's government is afraid to fully accept it because if they fully accept it, it will become very easy to launder money through it. Because through it billions of dollers can be transferred completely anonymously. So if thousands of crores of dollers are smuggled through it then the government will not get any trace. Here only wallets can be tracked but no one's personal documents can be found.  Here a money launderer will remain completely hidden

[Negotiation]

Governments will not fully accept bitcoin because it is outside of government control bitcoin is decentralized so the government can't manage it at will. This is a surprise exchange currency, which has no regulatory body. It does not work with the intervention of the government or the central bank the computer network that operates the digital cash system. Digital ownership of this currency is exchanged online in developed countries around the world bitcoin money is fully guaranteed in privacy.

[bittraffic]

The government is fighting also for its control position which is normal. If they don't have control like the BTC, it's normally rejected. It's just us who will be using BTC.

They couldn't even tax BTC especially if it's outside the centralized platforms and anonymous wallet. It's really worrisome for governments when everyone suddenly decides to get out of platforms they can choke. El Salvador is unique because president Bukele is fighting a different war which is thier independence from debt and USD.

[KupaCrypto]

The government is fighting also for its control position which is normal. If they don't have control like the BTC, it's normally rejected. It's just us who will be using BTC.

They couldn't even tax BTC especially if it's outside the centralized platforms and anonymous wallet. It's really worrisome for governments when everyone suddenly decides to get out of platforms they can choke. El Salvador is unique because president Bukele is fighting a different war which is thier independence from debt and USD.

Yes, they won't be able to tax BTC, BTC can't be regulated and a such it will be used for money laundering and other  criminal activities, the government won't be able to know how much comes in and goes out of your account, most criminals use BTC and and criminal financial activities can't be traced by the government with the use of BTC, BTC can also bypass capital due to its constant rise and fall of the value of BTC

[Marvell1]

~snip~

I'm not sure about the other things that hurt the country's economy, screw it up or something like that. It is contrived excuse for the adoption of bitcoin to be discouraged, while bitcoin has helped the economic growth of users which in turn has reduced the number of poverty among its users.

Bitcoin does not hurt the country's economy, but it will hurt their economy and power, if the government allows people to use bitcoin, then they will not be able to collect taxes or control us closely. The government's economy is mainly from taxing us, so if they accept bitcoin widely, it's like they're putting themselves at a dead end. After all, personal interest comes first, the government does not accept bitcoin because bitcoin gives us a lot of benefits, but for the government, it is a bad thing.

[Artemis3]

The kind of people we have in government are people who always want to fight for their selfish interests,  anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.

It doesn't matter, Bitcoin was made to work with or without their support. Luckily even a couple of countries adopted it officially as legal tender and many more as some sort of asset value. It is a rotund worldwide success. Only about 16 fools banned it, and its probably used in those countries anyway since they can't stop it, just make it more cumbersome forcing people underground. Not unlike a socialist gov prohibiting foreign currency detonating hyperinflation after their infinite "printing" which forced everyone break their stupid "law"...

The rest is coming, more countries will adopt it as legal tender and eventually critical mass will be reached. We don't need no fiat or altcoins. A few politicians or small financial elites should never have the power to decide devaluation again. It is the end of monetarist economics, enter Austrian school of economy, no more trash money designed to lose purchase power if you save it.

[S A KHAIR]

People be saying that governments hate bitcoin due to it being used as a money laundering or tax evasion tool. Do note that those kinds of acts require a FIAT currency in the first hand, which is trackable. Heck, even most cryptocurrencies are also indeed trackable if it being used improperly.

Why does bitcoin being blamed, where in fact, FIAT is the oldest tool that is being used to launder money and tax evasion? That is absurd. Even today, it is still being used. So one of the root causes is simple, it is beyond their monetary control.

It is all just excuses, and they are not just blaming bitcoin for sponsoring terrorism and money laundering, they are blaming bitcoin for global warming as well. All of these are crap excuses to force us to give up bitcoin, but they have failed consistently, bitcoin is still growing and becoming more popular.

[CryptSafe]

The kind of people we have in government are people who always want to fight for their selfish interests,  anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.

I believe the government is against bitcoin because they can not regulate it to their own aim so as to satisfy their ego. I believe Satoshi saw all these before embarking on this innovation and it was something the government can not comprehend as it is against their own aim but it is too late for them to interrupt or interfare with the already developed technology. The inception of bitcoin took the government unawares and made lots of millionaires today and still counting. The issues of tax evasion is what they are also accusing bitcoin technology of that has made government to loose tax as a result of holders bypassing tax payment which they steal from without any account from them how they spent the tax paid by the masses.

[samcoin]

I think the situation of Bitcoin acceptance is strongly correlated to the ability of a government to control it, so this situation could change over the time depending on the power a country has over Bitcoin. For example, Bitcoin was widely accepted in China a few years ago, and when they felt that they weren't able to control it, they banned it, while the companies in USA were buying silently, and now USA seems to be making benefits from Bitcoin either by hosting miners or taxing traders and exchanges.
Long story short, Bitcoin won't be accepted all over the word at the same time, because it could damage the economy of a country to achieve benefits for another country as it's uncontrolable, and governments will always look at it as a tool to achieve economical benefits.

[Fivestar4everMVP]

The kind of people we have in government are people who always want to fight for their selfish interests,  anything that will surely benefit them. If it's something good that has to with better development for humanity as far as it won't benefit them they will surely go against it.

The reason government won't accept bitcoin is not because it is a decentralized currency,  it is because they won't be able to print it like they print fiat  to steal as much as they can .

If bitcoin is something the government can manipulate to steal public fund they would accept it even before now without any delay.

You sure have a good point though, coming from a country where the government is so corrupt to the extent that they steal even funds belonging to displaced persons. Orphanages, funds kept to cater for the less privileged people In the society, I can really understand when you state this reason as one of the reasons why they won't allow the use of bitcoin in the society..
If bitcoin and made a legal tender and the masses move to transacting in bitcoin, the government will automatically lose the grip they have in their citizens through fiat currency , power will be taken away from them and passed back to the masses which is where it belonged to in the first place..
So, bitcoin is indeed, a threat to most of the government of the world, but the good news is that, even at that, they still can not stop bitcoin.

[KennyR]

People be saying that governments hate bitcoin due to it being used as a money laundering or tax evasion tool. Do note that those kinds of acts require a FIAT currency in the first hand, which is trackable. Heck, even most cryptocurrencies are also indeed trackable if it being used improperly.

Why does bitcoin being blamed, where in fact, FIAT is the oldest tool that is being used to launder money and tax evasion? That is absurd. Even today, it is still being used. So one of the root causes is simple, it is beyond their monetary control.

It is all just excuses, and they are not just blaming bitcoin for sponsoring terrorism and money laundering, they are blaming bitcoin for global warming as well. All of these are crap excuses to force us to give up bitcoin, but they have failed consistently, bitcoin is still growing and becoming more popular.

Governments know well about cryptocurrencies and they also know that money laundering and illegal activities are happening good through fiat. But they keep on pointing cryptocurrency as the cause for money laundering and illegal activities. In most of the third world countries the politicians itself doesn't know about cryptocurrencies, so they stand against its usage.

[jeraldskie11]

People be saying that governments hate bitcoin due to it being used as a money laundering or tax evasion tool. Do note that those kinds of acts require a FIAT currency in the first hand, which is trackable. Heck, even most cryptocurrencies are also indeed trackable if it being used improperly.

Why does bitcoin being blamed, where in fact, FIAT is the oldest tool that is being used to launder money and tax evasion? That is absurd. Even today, it is still being used. So one of the root causes is simple, it is beyond their monetary control.

It is all just excuses, and they are not just blaming bitcoin for sponsoring terrorism and money laundering, they are blaming bitcoin for global warming as well. All of these are crap excuses to force us to give up bitcoin, but they have failed consistently, bitcoin is still growing and becoming more popular.

Governments know well about cryptocurrencies and they also know that money laundering and illegal activities are happening good through fiat. But they keep on pointing cryptocurrency as the cause for money laundering and illegal activities. In most of the third world countries the politicians itself doesn't know about cryptocurrencies, so they stand against its usage.

And also Bitcoin transactions are transparent. So let us say the government uses Bitcoin and convert all people's money into it, we can clearly see each transactions. And ofcourse, we ordinary people always looking at the government funds by looking for the transactions of that address they using so they can't hide the truth to us, they can't manipulate us. So I think transparency is the main reason why they afraid of Bitcoin.

[BariMade]

The reason why Bitcoin is not accepted by the government is first of all because Bitcoin is not under the supervision of the government, the government cannot do things as it pleases, the government cannot ban Bitcoin, and Bitcoin will not be killed.

[LEbimb]

The characteristics of Bitcoin are not conducive to the government. The government's expenditure or income on it is clear, open and transparent, and they cannot hide their transactions, so the government will fear Bitcoin.