Government vs Bitcoin

[F2GIRL]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

[skarais]

Bitcoin hasn't harmed the government, but the innovation that is in bitcoin makes most governments afraid. Governments are afraid because they can't control bitcoin, of course that has made some of them ban it. But I am grateful that my country's government has not banned bitcoin completely, I mean bitcoin can be traded even though it is not allowed to use it as legal tender.

The policies taken by the government towards bitcoin are sometimes detrimental. Governments tend to say something negative about bitcoin, but they're basically just lying and pretending not to know. Bitcoin is just like any other currency, it can be misused for whatever reason. But that's not a good reason to ban a currency.

[boyptc]

Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

How it can be unreasonable if the government that has banned it as their own reasons? Whether we want to be against those governments that has banned bitcoin, there is nothing we can do with that.

The only thing is to wait for them to change and alter their decision into making it useful on their end. That's the start of it, they don't see the use and benefit of it and that's the reason why they're having regulations and worst, goes into a ban.

We think that they're wrong in all forms because we're pro and investors of bitcoin. But looking at their perspective, they think that they're right and we're wrong.

[Medusah]

I do not think they misunderstand Bitcoin at all.  Pretty much the other way.  The regular people misunderstand Bitcoin while the parasites are effectively attacking it often times, because it is very much threatening their comfort of playing recklessly with the financial system.

[Captain Corporate]

People keep claiming that governments try to ban bitcoin, but when I look at the big governments and my own, I do not see any ban. Is it banned in the USA? No, is it banned in UK? No, which EU nation bans it? None I know, all big ones accept it. Turkey accepts it as well, we see billboards of exchanges everywhere, there is a huge one with millions of members. So we can say that there aren't that many nations that bans it. Yes its known that China dislikes mining and a bit of bitcoin, but not crypto in general and that's why I could easily say that its not going to be that much of a trouble. I think its safe to say that governments are ok with crypto in general.

[Medusah]

People keep claiming that governments try to ban bitcoin, but when I look at the big governments and my own, I do not see any ban.

Because smart chairmen know that they must incorporate to stay relevant with new technologies.  But that does not mean they are supporting it.  If you look closely, you will see they are trying to surveil everyone as much as possible.  They dislike anonymity because they cannot control the absense of coin history, and that is why they fund millions for the operation of chain analysis, even if it is ineffective guesswork.

[carlfebz2]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Government doesnt really like on things which are;

1. Decentralized
2. Anonymous
3. Cannot be taxed directly

Or something that do talks about not be able to control or trace everything on which people or to those who do engage would definitely be making use
of those key points above for them to be able to get outside of governments eyes on which it would really be that understandable on why government do always have that kind of bad look
towards it. Its never been new but just let them be.

The market could move and continue without their approval or would really be relying on them.As long there are people or community would really be supporting
and would really be that making use then it cant easily die and would long time be existing.

[_BlackStar]

People keep claiming that governments try to ban bitcoin, but when I look at the big governments and my own, I do not see any ban. Is it banned in the USA? No, is it banned in UK? No, which EU nation bans it? None I know, all big ones accept it. Turkey accepts it as well, we see billboards of exchanges everywhere, there is a huge one with millions of members. So we can say that there aren't that many nations that bans it. Yes its known that China dislikes mining and a bit of bitcoin, but not crypto in general and that's why I could easily say that its not going to be that much of a trouble. I think its safe to say that governments are ok with crypto in general.

Bitcoin is accepted in many countries - but that doesn't mean it has the legal status of being used as a means of payment in every country. This statement can of course be refuted when legalities between countries are adjusted or changed from time to time. I agree that not many countries ban bitcoin - but still many countries don't let you use it as a means of payment or currency.


There are interesting references regarding the legal status of bitcoin in various countries; find it here: Legality of cryptocurrency by country or territory

[eightdots]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

What governments love most is control.

-You cannot own what you cannot control.
-You cannot know the limits of something you cannot control.
-You don't want to be part of something you can't control.

There is something else,
-Why should they allow something they can't control when they are in control? (Partially controllable.)

I think governments will always have a limited view of Bitcoin because of these things. I hope one day their understanding can change.

[Upgrade00]

Governments frequently misunderstand bitcoin innovation.

Governments fully understand Bitcoin and how it works, for this specific reason they try to limit the usage of Bitcoin in their country or they try to frustrate people from using it by imposing heavy tasks on trades and mining activities.

Government's cannot control Bitcoin, they cannot regulate it or restrict any transaction, they will obviously be against such an asset thriving and giving people more alternatives to fiat.

[Dzwaafu11]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

What I know and think is the reason why the government still disagrees with bitcoin is that they cannot control our funds anymore once it becomes legal tender. Once it becomes legal tender, our money will be in our custody. We all know that if bitcoin becomes legal tender today, most of us will like to use it as a means of transaction because of the freedom it has. However, the government disagrees with bitcoin because they know that if they agree that we should use it, we are not going to put money into the banks again, and you can see how decentralised it is, so from there they will not get some revenue that banks usually generate for them.

However, in my country, our government didn’t ban bitcoin, but rather, we can use it, but nothing concerns them if anything happens to our funds, and they can’t make it legal tender, so in my country, anyone who wishes to use it can go ahead.

We think that they're wrong in all forms because we're pro and investors of bitcoin. But looking at their perspective, they think that they're right and we're wrong.

Yes, mate, you know when you like something, you don't believe anything anyone says about it because all you want is that thing, and you want it done.
However, normally, that is how things go in some cases. Some citizens will prefer to use something, while the government will disagree with such decisions made by their citizens. So for bitcoin, you know, the only reason they don’t want to legalise it is because of how anonymous and decentralised it is. You can see that most of them don’t have any knowledge related to bitcoin, and if they legalise it, it will have no use for the citizens.

[348Judah]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

It's not that government doesn't know the importance of bitcoin, they only lauch attacks because they are afraid of allowing what will take financial power away from them, such that they won't be able to perform their secret enterprise, but the truth is that some individuals from these same governments will be wise enough to secretly admires and invest in bitcoin while joining in the attack on public because they don't want others to know about their secret, the conclusion now is that no matter how the attack may be, it will not be successful on a decentralized digital network of bitcoin, till government get tired, they won't achieve any attack aimed at bitcoin.

[The Cryptovator]

If you search over the forum you will get a lot of threads like this. The government always has issues with Bitcoin except in El Salvador IMO. Because the government has always been changing minds about Bitcoin even few of them allow Bitcoin. Sometimes we saw even the US became too strict. The main factor why the government doesn't like is decentralisation. They want control over the Bitcoin which is impossible anyway. They might control centralized wallets or exchange them to get tax. But won't control Bitcoin.

[Cryptomultiplier]

If you search over the forum you will get a lot of threads like this. The government always has issues with Bitcoin except in El Salvador IMO. Because the government has always been changing minds about Bitcoin even few of them allow Bitcoin. Sometimes we saw even the US became too strict. The main factor why the government doesn't like is decentralisation. They want control over the Bitcoin which is impossible anyway. They might control centralized wallets or exchange them to get tax. But won't control Bitcoin.

Well, we shouldn't be quick to judge the intentions of the government, as they are more concerned with money laundering and a host of other neferous criminal activities that can be perpetuated with the anonymity of the decentralized network.
El Salvador opened its arms to it, other countries may welcome the idea currently, but they only don't want to legally agree to its existence unless it is regulated, that is for those that even agree to its existence.

[Ojima-ojo]

The government lacks the power to control Bitcoin and that is the main reason why there have been attacks from the government towards Bitcoin and since they are well aware of that what is left for them is to ban or place strict regulations that undermine Bitcoin usage and adoption, and since a lot of things are changing and the global Bitcoin awareness is getting to mainstream adoption a d we already have countries looking in a different direction with Bitcoin.


Countries like El Salvador have already had a different road map towards Bitcoin and a country that has legalized Bitcoin and also drafted regulations for Bitcoin usage within the country, and even though the government knows quite well that they can control Bitcoin and its usage within the territory most especially that bitcoins that are transact on the decentralized networks.

[Rruchi man]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

Naturally it is a forum about bitcoins, by my assumption  considering the interest that has brought people to this forum, I will say close to the total number of users are on the side of bitcoins.

Thanks for telling us what we know already.

Welcome to the forum.

[serjent05]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

The government will always look at the Bitcoin innovation and compare it to their existing regulation.  The government will never look at the Bitcoin features like an ordinary citizen because the government has some interest in protecting.  Even though Bitcoin is very good for individuals, the government may look at it as harmful to its system especially when the government wants to control everything.

So better not think of the government processing things a normal person does.  It is always complicated when the government decides on things due to the factors they have to consider.

[koang]

The government does not misunderstand bitcoin innovation, The government deliberately frames it dishonestly with the narrative of money laundering, bad for the environment, blah blah blah...
But as Bitcoin becomes more popular, the government tries to keep it down by regulations.
Cryptography vs animal spirits.

We need to let things settle, adoption grow, and notice and learn from the behavior we don't expect.

[Mr.suevie]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

The government will always look at the Bitcoin innovation and compare it to their existing regulation.  The government will never look at the Bitcoin features like an ordinary citizen because the government has some interest in protecting.  Even though Bitcoin is very good for individuals, the government may look at it as harmful to its system especially when the government wants to control everything.

So better not think of the government processing things a normal person does.  It is always complicated when the government decides on things due to the factors they have to consider.

The name government it self shows the actual  purpose of role as they want to totally govern the masses and that includes control all assets which bitcoin doesn't fall under thats why most government are against it because they see it as an edge the masses have over them and they have tried in all means to campaign against it but no matter how they try bitcoin is still the people currency and I believe over time they are also going to give in.

[Zoomic]

Governments frequently misunderstand bitcoin innovation.

The government understands bitcoin more than you do. They have also known the potentials of bitcoin. They have known how fast bitcoin will grow if given free hands. They also know that their strongest weapon  (centralization) is threatened by the existence of bitcoin. This is the main reason the government does not give bitcoin free hands to operate since they are unable to control it.

If the government has not found a proven and a reliable way to monitor and tax everyone using bitcoin, they can not be at peace with bitcoin.