Government vs Bitcoin

[Smeet]

Governments often have issues with Bitcoin for a few key reasons. First, Bitcoin operates outside their control, which makes it harder for them to prevent things like illegal money activities and tax evasion. Also, because Bitcoin transactions don't reveal personal information, it can be tough for the police to track down criminals.

Governments are also worried that Bitcoin might compete with their own money, which could cause problems for their economy. Lastly, because the value of Bitcoin can go up and down a lot, it can be risky for regular people who might lose money. So, governments are thinking about ways to make rules for Bitcoin to protect their citizens and their financial systems.

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[Franctoshi]

Bitcoin is a threat to central control and the reason why the government's position on Bitcoin is not friendly is that they cannot control it. Bitcoin is truly decentralized, and hence it becomes difficult for the government to rule over it. This is why the government through the SEC has continuously been playing politics with regulatory clarity on cryptocurrency and putting laws and regulations that are not friendly with cryptos generally.

[Popkon6]

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.

I'm referring to my country's government, my country's government is in the middle of not recognizing Bitcoin. We are secretly using Bitcoin without any pressure from our government. And Bitcoin is an international coin that is common in every country. I can't find any reason to reject this bitcoin, so if bitcoin rejects it will be one sided. It is best not to trade bitcoins directly in countries where bitcoins are illegal because they are not allowed by the paperwork.

[FUNKDAFLEX]

https://youtu.be/2UFNpabZ4HU?si=cKJclnkT8ODJVG3h

[anjiitem]

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 is not just one or two people but maybe hundreds of people and it is impossible for everyone in the government of a country not to understand about Bitcoin.
Actually, if we are in a government position, surely we are also confused about how you can regulate and adapt Bitcoin so that it doesn't have a bad impact on its citizens and the country's economy.
Bitcoin really doesn't harm someone as long as that person uses it in the right way, but it is fraud in the name of Bitcoin that can often harm someone and if a country does not have or does not have clear regulations regarding Bitcoin then it is a threat to every citizen of that country.

[Arenga pinnata]

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.

I don't know which country you come from. What is certain is that in this condition it seems that you are indeed in an atmosphere that is a little disappointed with the government in your country.

Maybe the conditions are very different from those in my country where the government encourages its citizens to learn more about the digital world, including crypto and bitcoin.

And even the Governor of one of the provinces in my country has also spoken about his interest in creating a large bitcoin mining site in the province he now leads. Even the current president of my country also fully supports the innovation of young people in my country regarding crypto.

Currently crypto is considered a commodity in my country. And what I like about the government in my country is that they are moving quickly in providing crypto literacy to their citizens. Because they don't want their citizens to be scammed due to a lack of knowledge in this matter.

[Bd officer]

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.

I discuss the government of my country where I live. Bitcoin is still illegal in our country, I don't know if it will ever be legalized. And if a government official hears someone is involved in Bitcoin, they are prosecuted and punished. The government thinks that if bitcoin is legalized, money will be smuggled out of the country, illegal weapons will be purchased with bitcoin and it will be damaged in various ways. For these reasons, the government in our country hates Bitcoin. But many people are involved with bitcoins in our country keeping the privacy.

[Tuturtinular]

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.

Now many countries allow ownership of bitcoins. It is true, not all countries allow bitcoin as a currency for legal payments as these countries have their own legal fiat currency. But I don't think this is a serious problem because it is only a matter of time until the bitcoin community gets bigger and countries will legalize bitcoin as a legal payment currency.

Differences are always a phenomenon in every thought, so that there are those who agree and disagree with bitcoin, that's only natural. History has proven that bitcoin was banned in many countries, but until now the bitcoin community is still well developed so there is nothing to worry about bitcoin.

[WatChe]

Governments frequently misunderstand bitcoin innovation.

Government accept only what is beneficial for them and decentralized bitcoin is something not for Government. The peer to peer electronic cash transfer aka bitcoin is something not liked by Government at all since it will take financial control away from them.  There are not many countries where Decentralized Bitcoin is legal rather they have allowed bitcoin that is traded on centralized exchanges that Government can tax and control.

[Stella Mese]

Each country has different opinions regarding BTC, some governments prohibit it and some don't, but in my opinion, currently many countries are starting to accept the presence of BTC, but there are also those that allow BTC to be used as a tool of payment and there are also those that don't. . but in my country the government allows people to invest in BTC, but the government prohibits people from using BTC as a means of payment.

I think bitcoin has now started to be accepted by many countries and you don't need to be confused.

[GreatArkansas]

Each country has different opinions regarding BTC, some governments prohibit it and some don't, but in my opinion, currently many countries are starting to accept the presence of BTC, but there are also those that allow BTC to be used as a tool of payment and there are also those that don't. . but in my country the government allows people to invest in BTC, but the government prohibits people from using BTC as a means of payment.

I think bitcoin has now started to be accepted by many countries and you don't need to be confused.

Yes, but the only reason I am curious is why they don't have any valid reason for it. It is very common that some countries always misunderstand the innovation of Bitcoin, the good side of Bitcoin, and the good effect of it. We all know how Bitcoin can help in our daily lives.

[CryptoBuds]

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.

They did not issue a direct ban, but in the past many countries have introduced very harsh regulations and it is no different from forcing us to stop using bitcoin. Just like India proposed a 30-50% tax on crypto investors, this is a terrible number and their aim is to gradually make us abandon crypto. Or recently, the Biden administration proposed a 30% tax on bitcoin mining, but thankfully Congress did not pass it. Or many governments propagate bitcoin as a risk that people should stay away from...All of that is no different than they are also trying to get rid of bitcoin and don't want us to have access to it.

[fruktik]

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.

With a high probability I can say that you are from Russia, if you have such a state of affairs. That's not even the point. I am extremely annoyed by the fact that it is impossible to fully use crypto projects as an alternative payment system, but pay taxes if you have it on your wallets. And how to understand all this? Just give me the money and that's it.
Maybe give them the keys to the safe, where the money is? Well, why go around and around?

[Litzki1990]

I know why governments of different countries always accept Bitcoin negatively. The positive aspects of Bitcoin never come before the government systems of different countries. Most of the governments of the countries are far from accepting Bitcoin and they are always promoting Bitcoin negatively. There are enough reasons for such negative propaganda about Bitcoin as if people deposit their money through Bitcoin without depositing money in banks then they will not be able to control the money of their country and the amount of money that their people deposit in Bitcoin from their country is from their country. It will go out basically you can't control the money that's why the government of most of the countries are always negative about Bitcoin.

[LDL]

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.

If the government and the central bank go against Bitcoin, then it is not possible to control Bitcoin in that country, so Bitcoin is forced to be banned. But there are some bitcoin friendly countries where bitcoin is seen as an aid to the economic growth of that country and legalizing bitcoin as well as giving ample opportunities in transactions with banks as done by the president of El Salvador Nayib Bukele.
However, there may be many reasons why governments of different countries have a negative attitude towards Bitcoin, among them money laundering and undocumented transactions. Moreover, there may be some economic reasons that the governments and central banks of those countries are deeply aware of and have a negative attitude towards Bitcoin.

[Majestic-milf]

 It should not surprise you that the government dislikes Bitcoin, Op. How can you begin to make sense of something you can't control? Nobody likes competition or sharing power,  especially not with something as new an algorithmic currency as Bitcoin. The bitter truth is that no matter how hard they are trying to ban, like in the case of China, citizens keep buying.
 I remember telling someone about Bitcoin and the question of government strongly kicking against it popped up. The best answer I could give was that the government is like a bully who knows how much potential BTC possesses and instead of allowing it thrive and flourish, they try to subdue it. But unfortunately, Bitcoin is here to stay and just like many innovations that has changed the world, you can only fight it for so long before you accept and embrace it.

[BALIK]

It should not surprise you that the government dislikes Bitcoin, Op. How can you begin to make sense of something you can't control? Nobody likes competition or sharing power,  especially not with something as new an algorithmic currency as Bitcoin. The bitter truth is that no matter how hard they are trying to ban, like in the case of China, citizens keep buying.
 I remember telling someone about Bitcoin and the question of government strongly kicking against it popped up. The best answer I could give was that the government is like a bully who knows how much potential BTC possesses and instead of allowing it thrive and flourish, they try to subdue it. But unfortunately, Bitcoin is here to stay and just like many innovations that has changed the world, you can only fight it for so long before you accept and embrace it.

Yes, we don't need to be surprised or complain when the government shows a dislike for bitcoin. But it's not right to say they don't understand bitcoin, they know even more about bitcoin than we do and they realize it's not right for them.

But I won't blame them, I believe that if we were in their position, we would do the same. It is only because we are people controlled and oppressed by the government that we need freedom and liberation. But if we are the government, we control others, then we will do the same as them. Do we want to share our money or profits with others? Certainly not, so it is understandable that the government would find a way to block bitcoin. But they almost failed to ban bitcoin and they will accept it soon, but I hope there won't be too much draconian regulation for us.

[Xcode7]

I know why governments of different countries always accept Bitcoin negatively. The positive aspects of Bitcoin never come before the government systems of different countries. Most of the governments of the countries are far from accepting Bitcoin and they are always promoting Bitcoin negatively. There are enough reasons for such negative propaganda about Bitcoin as if people deposit their money through Bitcoin without depositing money in banks then they will not be able to control the money of their country and the amount of money that their people deposit in Bitcoin from their country is from their country. It will go out basically you can't control the money that's why the government of most of the countries are always negative about Bitcoin.

And that's quite logical because there are so many negative things that are very dangerous for the country if they legalize Bitcoin, like a crime network that can't be controlled if the government legalizes bitcoin, that's actually reasons that can be accepted but there are also some positive things that can't be defeat the negative so that it is never seen but the government should have the authority and rules to be able to remove the positive things and try to see the positive things if they legalize Bitcoin, that's a lot and even now the country of El Salvador has legalized Bitcoin because they can take advantage of the positive things and advantages of using Bitcoin.
But I see that for now, many state governments tend to do nothing, not prohibit and also not legalize, meaning that we can carry out any transaction without any protection and regulation from the state.

[Sebas.tian]

What government think about Bitcoin some years ago that made some ban Bitcoin from their country, and some rejected Bitcoin that it has no value for their citizens because of lack of orientation in the past that affected my governments. I think, those governments that rejected Bitcoin or banned Bitcoin before based on negative things they heard about Bitcoin later carry out their research to know what Bitcoin can do for a government that adopt it, and what it will eliminate from their economy when it come to stay in the land. Bitcoin will remain decentralized currency, which no government can control the price of Bitcoin, and it will pump when it's time to pump and it will dump when it's time to dump for investors to buy and hold for future purpose.

[dothebeats]

What government think about Bitcoin some years ago that made some ban Bitcoin from their country, and some rejected Bitcoin that it has no value for their citizens because of lack of orientation in the past that affected my governments. I think, those governments that rejected Bitcoin or banned Bitcoin before based on negative things they heard about Bitcoin later carry out their research to know what Bitcoin can do for a government that adopt it, and what it will eliminate from their economy when it come to stay in the land. Bitcoin will remain decentralized currency, which no government can control the price of Bitcoin, and it will pump when it's time to pump and it will dump when it's time to dump for investors to buy and hold for future purpose.

And you just stated two of the main reasons why governments do not like the idea of Bitcoin and why some countries even went out and actually banned it. Lack of control on the government's part is a big thing as they need to ensure that they have knowledge of the inside out of anything that exists under their nose or property, so essentially if their citizens are using it the government will do its best to have a hand on it to ensure that they will be the ones to govern it. Another one is the negative image Bitcoin has, thanks to the negative way the media has portrayed it and issues that keep on popping up regarding Bitcoin, governments do not (in any way) want to deliberately get their hands dirty, especially in the eyes of the public, so adopting something that has a negative image is a big no to them as it will also stain their own image. In conclusion, lack of control and negative image are two of the main reasons as to why governments are hesitant in accepting Bitcoin.