Main reason government won't fully accept bitcoin

[Y3shot]

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.

[1714691792]

1714691792

[Ndabagi01]

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 correct, OP; as we all know, there are numerous reasons, aside from the one you mentioned, why bitcoin cannot be accepted by the government. It is not the case that they can print as much fiat and steal as they want. Today, government funds are stolen or diverted to different accounts which are not in physical currency form but in digital form. Being decentralized means they can't print it. So your point about them not being able to print it as they please is one of the reasons it is decentralized.

[OcTradism]

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.

In developed countries where humanity is respected and citizens have rights to fight for their freedom, governments are not free to do everything they want. They have to step back and accept some requests from citizens.

Oppositely in developed countries or ones from third world or from countries with dictatorship like Russia, North Korea, Cuba etc. people have zero freedom or little freedom. They don't have basic human rights and governments have more power.

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 won't die, governments can not banned it or killed it entirely. If they can not banned the Internet and can not restrict ASIC manufacturers and Bitcoin mining farms, they can not kill Bitcoin.

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

They can not steal your bitcoin if you store your bitcoins in non custodial wallets.
In contrast, they can steal your bitcoin if you store it on centralized exchanges that can be fully controlled by governments.

[AnonBitCoiner]

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 main reason behind not accepting Bitcoin is because Govt will not be able to see the actual portfolio of any citizens and they will not be able to charge tax. Bitcoin is decentralized and it's cannot be controlled by government. Central Bank are the main opposition of Bitcoin in any country. If people start to make invest in Bitcoin then They will withdraw money from the bank and no government want this.

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 .

Yes this is also one reason and only those citizens can use it for payment system whom can use mobile also. Rural area citizens will not be able to do this. The supply of BTC is also limited and price of btc is also variable and did not backed by any thing.

[Majestic-milf]

 Most of the reasons as to why the govt would be adamant on fully accepting Bitcoin has been enumerated here but I'd like to point out another reason; encouraging and accepting Bitcoin will directly mean they are relinquishing control and without control over your finance, it becomes difficult for banks to dictate how you spend your finance.
 Till date, there has been the issue of banks and govt fighting against the digital coin, with it's penchant for high volatility, it is regarded by them as unstable and untrustworthy; these are true facts but their main reason of objection is so control is not taken from them. Too bad for them that the scales have fallen from people's eyes.

[serveria.com]

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.

Well, I think the main reason is fear. They can't control Bitcoin and that's why they're afraid. It can't be confiscated or held. Also the fact Bitcoin is actually doing better than any FIAT currency: it's free from inflation as it has limited supply etc  

[KingsDen]

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.

Government will not likely rely 100% something that isn't thier creation and something they cannot control. The government knows how to control her citizens. They know how to filter the information and give us mutilated information.
The government is used to crooks and manipulation, it they will not accept bitcoin which they cannot easily manipulate.

Another question is why accept alternative currency when you have a working and well trusted fiat?

[BlackHatCoiner]

Governments want to intervene in humans' lives. The market the least, let's leave the personal part asides. They intervene in the market with taxes, and, if they're tied with a central bank, with the creation of money. Such ability is without doubt strengthening the government, because it gives the power to experiment with the economy without paying the potential loss; that will be paid by people who don't have a direct affiliation with this practice. So, any mistake a governmental secretary does, isn't paid by themselves, but by another fellow. So, there is less incentive for the secretary to not think recklessly.

Bitcoin isn't administrated only by the people in power, but by the people in general. That obviously isn't liked by the people in power.

[Solosanz]

They do can! but the way of the government steal our Bitcoin is different.

They can't print more Bitcoin out of thin air, but they can force their citizens to use the exchange and wallet they've built, they can create an exchange with high trading fee, withdrawal fee and automatic income tax calculation on their own wallet and exchange.

It's actually a win-win solution for both government and citizens, but making Bitcoin become legal tender isn't easy task since they need to follow the whole Bitcoin regulation and they need to face a politic problem from countries which ban Bitcoin.

[Luzin]

Well, I think the main reason is fear. They can't control Bitcoin and that's why they're afraid. It can't be confiscated or held. Also the fact Bitcoin is actually doing better than any FIAT currency: it's free from inflation as it has limited supply etc  

Another proof, many country trying to develop CBDC that are used to divert crypto users. It seems that China has succeeded with government coercion, although I heard that there are still crypto activities being carried out. CBDCs I think are ultimately the same as coins or paper money because their system is centralized, so control is in the creators or the government.

This is quite contrary to crypto technology. Even my country has issued a Whitepaper for the CBDC project although I am now very happy that Crypto has been recognized as a commodity asset in my country. Even they have implemented taxes from crypto.

[npuath]

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.

At least for western democraties, that's a dire view of elected officials. Perhaps Plato put it in a more balanced way in The Republic (mother of said western democracy), to the effect that the best suited to rule are least likely to want to, and perhaps those less suited to rule will be more inclined to desire power due to their own shortcomings.

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.

That's not quite correct, in my opinion, in the sense that the finance industry successfully lobbies to create incentives against decentralised financial tools, which otherwise they want to continue to provide and control, at a premium. I've been on the lobbying side, and in my experience it is laughably easy to convince officials to see the light, usually because of very human insecurity and reverence issues, rather than outright bribes.

The other and major part of governmental non-acceptance is, I believe, precisely the decentralised qualities; every government's first and foremost issue is the successful taxation of its constituents, and in a fully decentralised financial system neither verification nor enforcability are feasible.

[Davidvictorson]

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.

The main reason why the government won't accept bitcoin is because they can't regulate, trace, or track it. They want to at any time investigate and monitor your financial activity and, if necessary, freeze your assets, raise interest rates, and collect taxes. But bitcoin is so decentralized that it is ubiquitous due to how it is distributed. As a result neither the Commodity Futures Trading Commission (CFTC) nor the Securities and Exchange Commission (SEC) can easily impose their will across borders. Furthermore, there's no one the government can hold responsible for anything that goes on with bitcoin.

1. https://www.skadden.com/insights/publications/2021/04/the-distributed-ledger
2. https://www.everycrsreport.com/reports/R44918.html
3. www.govinfo.gov/content/pkg/CHRG-115hhrg31384/html...HRG-115hhrg31384.htm

[KiaKia]

I don't fully accept.

You said the government won't be able to print Bitcoin like Fiat, but they can manipulate the price by releasing a deadly virus to give faded hope to humanity so they can grab every chance ..

They call Bitcoin fraud and later behind the scene they buy as many as they can, how sure are you that the government isn't buying bitcoin for years already, they can't beat Bitcoin, accepted, but they can join the train and create fear and panic to drop the price.

Do you know that people are paying taxes on their Bitcoin holdings? That's bringing in money as well, there are ways they can still monetize this crypto space as a whole, do not underestimate those people.

It's a good thing that Satoshi Nakamoto is unknown, he knew what will happen if he came out in the open.

[Gallar]

Governments that really want to advance their people are very rare nowadays, mostly they want to enrich themselves.
everything has been seen from the start that they are running for government, everyone is playing money to win, even though things like that are strictly prohibited and do not show leadership.

that's why bitcoin came as a decentralized currency, they immediately rejected it.

[pooya87]

It is actually not so much about self interest but mostly about control. For example imagine if the government wanted to freeze someone's money (like the Canadian government did last year to its protesters) they can only do it if they have full control over their people's money otherwise if people were using something they have zero control over (like bitcoin) there is nothing they could do.
Ergo the governments are almost always against bitcoin and want to prevent bitcoin adoption, of course exceptions apply like El Salvador.

[GigaBit]

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.

Because of not being able to control Bitcoin, the government gives various restrictions. Basically to hide their inability, they try to bring forward some negative aspects of using Bitcoin. But the reality is that most of the government loses by the using the strategy too. Because the use and potential of Bitcoin is at its peak everywhere. People's loyalty to using bitcoin is constantly increasing. It is now used as the top of all payment methods and investments. But when the next generation can't imagine anything but Bitcoin, the government will have no alternative but to take a positive stance on Bitcoin.

[Ojima-ojo]

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.

First we should look at the indices that make up the whole concept of bitcoin and what it stand for, as we journey into acquiring more knowledge about bitcoin we open up our mind to accept a decentralized and proven cryptography.

Just like mathematical equations bitcoin as a computed data have made decentralization and independent individual freedom more achievable.

Beuocratic government may not welcome the idea of decentralization, but bitcoin have continued to thrive for better industrial technologies making it evident with proven track records.

[Bitstar_coin]

Bitcoin is everything fiat would ever be with its decentralized and anonymous nature, and government don't like such things,  not being able to track the transaction activities of people is not a good idea. Bitcoin gives power of financial freedom to the people which makes it very popular and ready to compete with traditional currency owned and controlled by the government.

As a result, governments are finding it difficult to adopt btc because it could potentially compete with their own currency and undermine their ability to control the money supply and interest rates. Although there are other reasons but to me, this is the most significant among them all.

[coinerer]

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.

Because of not being able to control Bitcoin, the government gives various restrictions. Basically to hide their inability, they try to bring forward some negative aspects of using Bitcoin. But the reality is that most of the government loses by the using the strategy too. Because the use and potential of Bitcoin is at its peak everywhere. People's loyalty to using bitcoin is constantly increasing. It is now used as the top of all payment methods and investments. But when the next generation can't imagine anything but Bitcoin, the government will have no alternative but to take a positive stance on Bitcoin.

The government itself thinks that if Bitcoin is accepted, the country will develop economically and the country will be able to keep pace with the times, but many countries do not accept it because they think that they cannot control it and through it the people of the country will be able to evade VAT tax.  And activities like money laundering will become easier. Considering these, they refuse to accept Bitcoin

[koang]

Money is a big business.

Building trust takes time and consistency, This is a marathon, not a sprint, and I still believe the government finally comes to terms with BTC. Crypto is a world. Just buy when the dips and wait for another pump on the way.
 
Btw, It looks like Texas has finally seen the light