Why the disagreement between the Government, Bank and Bitcoin?

[Accardo]

Among the last three terms on my topic, each has representatives, and they've been having disagreements; the Government and banks against Bitcoin. With no tangible reason why it's so? I mean, Electricity came, the government and the bank accepted it and placed an electricity bill, the internet came they both accepted it and the Government works with ISPs to take bills from data subscriptions. Bitcoin came they took advantage of centralized exchanges, yet they're not satisfied. I've read multiple bad reasons placed on bitcoin volatility, fraud, etc, and don't see it tangible because every innovation has its risks and importance.

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

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[Ndabagi01]

Among the last three terms on my topic, each has representatives, and they've been having disagreements; the Government and banks against Bitcoin. With no tangible reason why it's so? I mean, Electricity came, the government and the bank accepted it and placed an electricity bill, the internet came they both accepted it and the Government works with ISPs to take bills from data subscriptions. Bitcoin came they took advantage of centralized exchanges, yet they're not satisfied. I've read multiple bad reasons placed on bitcoin volatility, fraud, etc, and don't see it tangible because every innovation has its risks and importance.

The government and banks will never agree on bitcoin or reach a consensus since it is just out of their hands and there is nothing they can do about it. The terrible reputations they're assigning to bitcoin are the least they can do to slow its adoption. Even crimes that were prevalent prior to bitcoin are now being attributed to it, which was not suppose to be so.

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

Allow the quarrel to continue since, in my opinion, it is only increasing the popularity of bitcoin and increasing public awareness of it. And as bitcoin enthusiasts, what we need to do is make it clear to people that bitcoin has nothing to do with the negative connotations that have been associated to it, and to tell them that it is also a reliable means to save money.

[Yatsan]

Taxation and regulation. These two are the conflicts which differ this blockchain to banks, and to why some governments are against adoption of this technology. This technology is decentralized and that means transactions cannot be regulated and taxed unlike with bank transactions wherein regulation is obvious which is also the reason why it is taxed. There's no need for a tangible reason which somehow makes sense given that this technology runs through online for being a digital currency. Governments simply has the power whether to allow it or not to whatever reason they have. As long as this technology won't be supported by the mass public, then things would just continue for years. The only thing we could do is to wait for further developments to happen for this industry since not all things could be forced.

[Zaguru12]

Among the last three terms on my topic, each has representatives, and they've been having disagreements; the Government and banks against Bitcoin. With no tangible reason why it's so? I mean, Electricity came, the government and the bank accepted it and placed an electricity bill, the internet came they both accepted it and the Government works with ISPs to take bills from data subscriptions.

The government and banks will not accept bitcoin easily like they embraced other technologies you mentioned simply because it will cripple their manipulation on monetary assets like it. Had bitcoin been a coin that its price could be manipulated by a central body the government will have accepted it. But its decentralization is a big problem to the government. The government will love to have control and also make changes to things on the network just like how the interest rate of banks are fluctuated by them, but with bitcoin you need consensus before implementing any proposal.

As for banks it will definitely limit the charges they charge people using fiat like stamp duty and such if bitcoin is been used. Not to talk of unnecessary charges when trying to convert from one currency to another. So the only problem this two have with bitcoin is the fact that it can’t be tamed or controlled by them

[Nwada001]

They will not completely agree with Bitcoin, which is far behind what they will list among their reasons for fighting to regulate it. The government can't just approve and embrace Bitcoin with open hands because they are afraid of it. It's a trait of their financial system; it gives the citizens financial freedom and control over their wealth.

The bank is afraid and will be racist toward Bitcoin because it is taking food from their table. If more people embrace Bitcoin and take away all their deposits from the banking sector, the banks won't have what to use for their lending services, what they can charge users for transaction fees, and every other means by which they are earning from their customers. If you are to be any of the aforementioned parties, will you gladly embrace what seems negative to your business?

[Accardo]

Taxation and regulation. These two are the conflicts which differ this blockchain to banks, and to why some governments are against adoption of this technology. This technology is decentralized and that means transactions cannot be regulated and taxed unlike with bank transactions wherein regulation is obvious which is also the reason why it is taxed. There's no need for a tangible reason which somehow makes sense given that this technology runs through online for being a digital currency. Governments simply has the power whether to allow it or not to whatever reason they have. As long as this technology won't be supported by the mass public, then things would just continue for years. The only thing we could do is to wait for further developments to happen for this industry since not all things could be forced.

From your perspective, I'd call it corporate greed. They want to take charge of every single transaction that occurs on the blockchain, but find it difficult to achieve. And they can't believe that a technology was thought out exceptionally well to be above their control; the regulation has been delaying for years, it pisses them off to see citizens escaping the taxes they get from banks. How long will the public be held back from doing what they want, maybe they don't understand bitcoin yet. The government is powerful yes, but bitcoin is always a step ahead.

The only thing we could do is to wait for further developments to happen for this industry since not all things could be forced.

Do you mean technical or financial developments?

[qwertyup23]

Among the last three terms on my topic, each has representatives, and they've been having disagreements; the Government and banks against Bitcoin. With no tangible reason why it's so? I mean, Electricity came, the government and the bank accepted it and placed an electricity bill, the internet came they both accepted it and the Government works with ISPs to take bills from data subscriptions. Bitcoin came they took advantage of centralized exchanges, yet they're not satisfied. I've read multiple bad reasons placed on bitcoin volatility, fraud, etc, and don't see it tangible because every innovation has its risks and importance.

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

The simplest answer is because BTC is freedom from control.

Governments and banks somehow imply a degree of control financially. There is this association whenever we hear these words in which a certain good would be regulated and controlled in a way depending to their liking. This is exactly on why BTC was created in order to have the freedom of transactions anywhere. It frees itself from the regulation and control of banks and the government in which BTC is used under the blockchain for transactions.

[sheenshane]

Because Bitcoin is different from Electricity and the Internet, which government is out of control of Bitcoin
Because they know that Bitcoin operates outside the traditional financial system, which can make it difficult for governments to regulate and monitor them effectively.  IMO, this lack of regulatory oversight raises concerns about money laundering, tax evasion, and other illicit activities.

There's a conflict between decentralized and centralized financial systems, people do love financial freedom while the government is always against it and wanted to regulate people's money.  It might be because this was the duty of the government and banks which are responsible for implementing monetary policy to manage a country's economy.

Good thing, as of now not all governments and regulatory bodies have the same perspective on Bitcoin.  Some are opening their yes and embracing this new technology which they think is very helpful to their economy.

[SatoPrincess]

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

I think they have done a pretty good job making bitcoin look illegal in the eyes of people and promoting CBDCs. I don’t imagine the government will ever  “submit” to bitcoin. They are doing everything in their power to regulate bitcoin, it’s not even about the banks hating bitcoin, the problem is that the government wants to control and regulate how we spend our money. Bitcoin is the only opposition to this plan, that’s why the government will never accept bitcoin.

[zanezane]

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

I think, their difference base on the differences in ideology, control over monetary systems, regulatory concerns, and the risks associated with cryptocurrencies. Bitcoin's decentralized nature challenges the traditional control exerted by governments and banks over financial systems. Governments and banks worry about potential illicit activities facilitated through cryptocurrencies and the volatility of Bitcoin's price. On the other hand, Bitcoin enthusiasts believe in the importance of financial freedom and view Bitcoin as way to reduce reliance on traditional financial institutions.

[Slow death]

I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

why would the government and banks submit to bitcoin? I think I need to put things like this:

1 - what would governments gain from bitcoin? the answer to this question: it is nothing, governments would not gain anything from bitcoin

2 - what would banks gain with bitcoin? the answer to this question: it is nothing, governments would not gain anything from bitcoin

governments make money from the taxes that people pay and these government officials own banks, ganks make money from the high interest loans they keep giving people, governments have created laws and rules that force companies to have to putting people's salaries in the banks and with that, the way was opened for people to have no choice, they are forced to use banks, to have to do kyc in the bank and declare any amount of money that is too high to enter the account from the bank

the banks have profited a lot and as i said the owners of the banks are government people, so these guys don't need bitcoin for anything, they will never submit to bitcoin because they have their corrupt scheme that gives them a lot of profit, bitcoin for they are useless, that's why in a few years you will see bitcoin being used everywhere because governments will see that bitcoin does not pose any threat to the system of banks and governments.

[GiftedMAN]

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

I think they have done a pretty good job making bitcoin look illegal in the eyes of people and promoting CBDCs. I don’t imagine the government will ever  “submit” to bitcoin. They are doing everything in their power to regulate bitcoin, it’s not even about the banks hating bitcoin, the problem is that the government wants to control and regulate how we spend our money. Bitcoin is the only opposition to this plan, that’s why the government will never accept bitcoin.

SatoPrincess I agree with you. I think it is a big win for the government because they have succeeded in painting bitcoin black in the eyes of people even though not everyone believes in their lies of calling bitcoin evil because of their inability to have total  control over bitcoin users and regulate the transactions made by them.Personally,  I also think the government can only limit people from using bitcoin by not adopting it but they can't force her citizens not to do transactions if they are wise enough to speak out on what they want and how they can't be regulated on how they should spend their money. The government can only submit to bitcoin and allow everyone to use bitcoin if they find a way to monitor the transactions of all users which is not possible or the value of fiat which is generally accepted by the government is equal to zero which I don't think can be possible except that the government will still find it difficult to generally accept bitcoin rather they will keep spreading rumours on how bitcoin is used by criminals, drug dealers and money launderers as if all this evil acts has not been done using fiat currency which is the most accessible and well known currency all over the world.

[noorman0]

-snip-
I've read multiple bad reasons placed on bitcoin volatility, fraud, etc, and don't see it tangible because every innovation has its risks and importance.

On the contrary, why do Bitcoiners quarrel with them? knowing that they, Government and Bank, got no strong evidence to tarnish the image of Bitcoin completely. I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

So that's it, the conflict is more fueled by seeing the shortcomings of the two where they can can neither tolerate nor be able to deal with.
Even a bitcoin maximalist cannot be classified as a bank hater (neither do I believe in speaking they don't have a bank account), they don't necessarily hate banks at all. In fact, they may share some financial aspects to remain subject to the law or completely independent, and that is part of the legal rights of every free person that the government should understand that limitation.

[crunck]

I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

It is too much of an illusion to say that governments and banks will submit to bitcoin. Government and banks don't need bitcoin, conversely, without government permission and don't use banks, how can we participate in bitcoin investment? A 14-year-old asset with a market capitalization of only 500 billion that wants the world to obey him? I am a bitcoin investor, but I need reality to assess the situation to benefit myself financially. I don't want to live in illusions and stupidity.

[Churchillvv]

The government and banks will never agree on bitcoin

If I were you, I would not jump into conclusion because bitcoin may not or may be accepted by the government and banks. It is just a matter of time recently I saw a news on bitcoin magazine on Instagram quoting a post from Twitter talking about the US presidential candidate "Robert Kennedy Jr to become the first presidential campaign in history to accept Bitcoin lightning payment. So your assumption that government and banks will NEVER agree with Bitcoin is wrong.

The fact is bitcoin violated the definition of government, According to a Russian- American political scientist, David Easton, defined government as an agency that derives the will and affairs of a state. Which means the government is supposed have absolute control over everything but Bitcoin is the opposite of that ideology. I believe Bitcoin will be accepted by the government and submit to it as far as we are consistent with Bitcoin

[Rigon]

1 - what would governments gain from bitcoin? the answer to this question: it is nothing, governments would not gain anything from bitcoin

2 - what would banks gain with bitcoin? the answer to this question: it is nothing, governments would not gain anything from bitcoin

To answer your question, since Bitcoin is legalized in the country, the government will tax it. When people transact bitcoins from the place where the tax is determined, the tax will automatically be deducted according to that percentage. So in this case I see that Bitcoin transactions are definitely profitable for the government. Assuming bitcoin is legal in your country, the government will tax it at 35%, then if you trade bitcoins from your country, you will deduct 35%, so in this case the government will have a profit here. But Bitcoin cannot be regulated by the government because Bitcoin is decentralized and completely out of government control. Because of this disadvantage, the government considers Bitcoin dangerous.

[Fundamentals Of]

It's not just because of volatility, fraud, etc. that some governments and banks are against Bitcoin. There are more fundamental reasons to it. Decentralization, for instance, is something the governments and banks don't like. So even if Bitcoin isn't as volatile as it is today, we should expect the same unfriendly treatment.

The truth of the matter is that they can't control Bitcoin so they're mad at the technology. This is the truth. Whatever they say is just their own way of attacking Bitcoin subtly, in a way that won't give them a bad name.

[ethereumhunter]

Bitcoin doesn't fight with the government and banks, on the contrary, the government sees Bitcoin as a threat to them because when people use bitcoin, the government can't control everyone's wealth. When the government cannot monitor the transactions of every citizen, the government cannot collect the taxes they need. Meanwhile, the bank will be a stopover for people who withdraw their bitcoins and send them to their bank accounts.

If a lot of scams in the name of bitcoin occur, it is because people are too greedy or tempted to join such programs and not seek more information. And from the frauds that occurred, the government then concluded that bitcoin was only for criminal activity, not to mention the problem of money laundering.

[cabron]

 Its going to be a battle for a long time and up until theyget every last bit of BTC I guess.

They've already tried the ESG and all it just need is to ban BTC and mining as well. Unfortunately situation will be tiricky because of the multipolarity. If US government banning crypto, the otherside of the world will take advantage of it like China is doing, opening its door allowing their citizens to invest in crypto.

Bank and government will just have to leave it this way.

[GreatArkansas]

(.....)
I think the quarrel will make Bitcoin very famous to the extent that both opponents will have no other option than to submit to Bitcoin.

Make sense, I agree here because people will become curious once they hear every time about Bitcoin. And Bitcoin will get the attention most of people. As more people are aware of Bitcoin, they will start to see how Bitcoin will help their daily lives, especially in finance.
This will put pressure on both government and banks. And later on, banks/government will "If you can't beat 'em, join 'em".