Government vs Bitcoin

[Blitzboy]

I think the main reason is Cryptocurrencies can be used to hide assets and income, making it challenging for governments to collect taxes. This could potentially reduce government revenue, which they rely on for public services and infrastructure.

Maybe it's like that. But actually hiding assets or the like is even easier if they are in fiat or gold. Because there will be no written data if we transact offline with fiat and gold. So we can store gold and fiat in a large safe underground without anyone knowing. But through cryptocurrency every transaction is recorded in the blockchain and it can be traced in fact I feel it is more transparent than the usual fiat transaction process.
Even crypto wallet ownership can ultimately be traced if it has a transaction history with a centralized exchange that also uses KYC or something similar.

And actually it would be better for the government to implement clear regulations on crypto so that they can get tax income from every transaction carried out on an exchange registered with the government. And even if the government is hostile to crypto then this will only make its citizens transact secretly. And in the end the government will lose because it doesn't get any tax income. If regulations regarding crypto have not yet been made.

Even with its enormous potential for revolution, cryptocurrencies arent a perfect solution to all of the world's financial problems. The claim that gold and fiat can be concealed more successfully? Yes, on the one hand, no digital footprint was left. Physical assets, however, are subject to seizure, theft, and destruction.

You are correct: every crypto transaction is recorded on the blockchain. Do not deceive ourselves, though. Privacy coins and anonymity techniques are available. They have the ability to obscure transactions, negating the transparency of public blockchains. But who right now are currently use advance crypto like Monero? 

Furthermore, the notion that states had to merely "implement clear regulations"? Said to be easier than done. It goes beyond tax income alone. It has to do with international commerce, crime prevention, and financial stability. Instead of oversimplifying things, its time we faced the reality of the situation.

[Latviand]

Both are good and useful things for us. The government provides us with security, stores, roads, schools, hospitals, and many more things, which help us to live. Bitcoin is like a business, if you invest then you can make a profit, and sometimes you should pick a loss in bitcoin. This same thing in business.

But, Bitcoin is the best thing for money.

Too bad most governments fail to provide those stuff you've mentioned especially if it doesn't benefit them or make their pockets bigger. I don't know about you but I think bitcoin isn't that whatever you're talking about, bitcoin's more than that. The reason why bitcoin isn't on a friendly terms with the government is because bitcoin is liberating people from being dependent on them and they know this that's why any big moves that bitcoin takes, they have to be watchful because if it goes awry, it's bad for them.

[Fiasem20]

The government has used frame works to regulate the use of bitcoin but it can't be regulated by the government because it isn't controlled by the government.The government has also gone extra mile to ban bitcoin.Fiat currency are controlled by the government and the central bank that's why only the government has the authority to regulate fiat currency,but has has no means to regulate bitcoin.Since the government has not accepted bitcoin as a legal tender, bitcoiners use peer-to-peer network to trade,sell and buy bitcoin without the third party like banks and government.The first country to accept bitcoin as a legal tender is El Salvador.The reasons why government hasn't accepted bitcoin as a legal means of exchange are;
1.Every individual will be privileged to control their coin in their digital wallet and will no longer be controlled by the government,so with that fear most government hasn't accepted bitcoin as a legal means of exchange.
2.The fear that the controversial currency (Bitcoin)will take over the fiat currency.

[roller33]

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 beauty of Bitcoin is this: It can't be controlled. As soon as we understand that the government doesn't exist to benefit the people, but rather they only think about themselves, your mind changes quicly.

My country is one of the most corrupts in the whole world, and they always say that everything they do is for the people, but we all know it is a lie.

[Benedictare]

   Bitcoins weakens governments authority over its citizens of his country to avoid being stopped by capital control caused by it,and facilitate immoral works by assisting criminals stay away from  discovering .Bitcoin can be capable of becoming real to throw a  change in the existing basic framework system andcause to be unable to continue existing  or working in the desired way,and it also bring  out three challenges to g overnments authority that is can't be regulated, criminals use it and also helps  citizens avoid from being stopped by capital control . Bitcoin is complex and goes round .

   Cryptocurency have an important strong effect on traditional banking by being unable to continue in the normal way and existing way of payment, more secured and efficient, avoiding bank fees.

   Governments are not having complete trust in Bitcoin since it might harm their control over the money system.

[gunhell16]

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.

Until now there are still governments that don't like Bitcoin like the US and other countries that don't understand Bitcoin and no one else thinks about how they can control it which is impossible in reality.

Then if we look at Bitcoin is a friendly opportunity, it is only abused by other governments, which the government can harm while Bitcoin can't do it because we may be in full control while the government is always the one who wants to control what they think they can benefit from.

[oktana]

It’s not a misunderstanding. The government is restricting it because they understand it. While I like to think that they ban and restrict it so they can be in control, I also see that there are worries about cases where people use Bitcoin wrongly (to even pay for illegal things) and due to anonymity, you cannot trace it. Also, the government likes tax, they know that Bitcoin not being able to be traced wouldn’t let them take their cut of one’s money. Over time, more government will come to terms with Bitcoin, you can tell if you compare the present to the past.

[Assface16678]

It’s not a misunderstanding. The government is restricting it because they understand it. While I like to think that they ban and restrict it so they can be in control, I also see that there are worries about cases where people use Bitcoin wrongly (to even pay for illegal things) and due to anonymity, you cannot trace it. Also, the government likes tax, they know that Bitcoin not being able to be traced wouldn’t let them take their cut of one’s money. Over time, more government will come to terms with Bitcoin, you can tell if you compare the present to the past.

Exactly! But to add to that, the government can't accept bitcoin or the use of crypto currency because it will take a long time before it can be mainstream; what I mean is, before it can be implemented by a large crowd, it's not easy to understand crypto currency. That's why even the government knows how this technology can help; they choose to ignore it as it can't be easily used by anyone, and they are aware of how powerful bitcoin can be; it can dominate the fiat currency if they just let it be regulated or accepted. But we bitcoiners are still not losing hope that someday the world will be cryptocurrency friendly so that the illegalities of crypto currency will be ignored and we can just focus on how it can help many people. But even without the recognition or acknowledgement of the government, we are still free to access bitcoin, as they can't stop us from using it; they don't have the means.

[CODE200]

It’s not a misunderstanding. The government is restricting it because they understand it. While I like to think that they ban and restrict it so they can be in control, I also see that there are worries about cases where people use Bitcoin wrongly (to even pay for illegal things) and due to anonymity, you cannot trace it. Also, the government likes tax, they know that Bitcoin not being able to be traced wouldn’t let them take their cut of one’s money. Over time, more government will come to terms with Bitcoin, you can tell if you compare the present to the past.

A bit of the government do understand bitcoin and a bit of the government don't understand bitcoin, I think that you've almost covered all of the possible reasons on why they ban it because they understand bitcoin so I'd like to take on the reason why they ban it because they don't understand, it's just my opinion so feel free to correct me or something, just don't hurt my feelings.

For me, the reason why I think that the government bans bitcoin because they don't understand it has got to do with xenophobia or the fear of the unknown, they don't know how the technology fully works and how they can utilize it to the means that would serve their interests be it selfish or altruistic, also the fact that the government have a hard time approving new technology means that they're going to do the same with bitcoin here, it's going to be full of red tape and bureaucracy. Hopefully, I'm just being delusional about these assumptions that I've talked and that bitcoin is doing just fine when it comes to it's relation with a lot of government, they'll eventually give in though, look at what's happening to Argentina with a pro bitcoin president.

[harapan]

First of all,the government is the country and the country is the government.Therefore whatever is not in their control or under their supremacy should not be in the same space with them.The thing is they are the government and they always seem to want to be in charge.
 
They are the body of the people,the rule of law in fact;Every government has its own constitution or a set of fundamental principles that it follows to ensure effective governance.But once they noticed something trying to overrule or overpower their governance,they'll ensure they terminate its existence.
 The case of bitcoin is different,I think the governments are afraid of bitcoin because bitcoin system denies them the right to operate and have authority over its transactions.Because of that, they take bitcoin to be in a competition with the fait system they're in charge of.They 're afraid of it exposing their mischievous financial plot to the economy.

[kingvirtus09]

It’s not a misunderstanding. The government is restricting it because they understand it. While I like to think that they ban and restrict it so they can be in control, I also see that there are worries about cases where people use Bitcoin wrongly (to even pay for illegal things) and due to anonymity, you cannot trace it. Also, the government likes tax, they know that Bitcoin not being able to be traced wouldn’t let them take their cut of one’s money. Over time, more government will come to terms with Bitcoin, you can tell if you compare the present to the past.

A bit of the government do understand bitcoin and a bit of the government don't understand bitcoin, I think that you've almost covered all of the possible reasons on why they ban it because they understand bitcoin so I'd like to take on the reason why they ban it because they don't understand, it's just my opinion so feel free to correct me or something, just don't hurt my feelings.

For me, the reason why I think that the government bans bitcoin because they don't understand it has got to do with xenophobia or the fear of the unknown, they don't know how the technology fully works and how they can utilize it to the means that would serve their interests be it selfish or altruistic, also the fact that the government have a hard time approving new technology means that they're going to do the same with bitcoin here, it's going to be full of red tape and bureaucracy. Hopefully, I'm just being delusional about these assumptions that I've talked and that bitcoin is doing just fine when it comes to it's relation with a lot of government, they'll eventually give in though, look at what's happening to Argentina with a pro bitcoin president.

That is correct, because before there were other countries that banned Bitcoin, and then later the ban on Bitcoin was also lifted. The question is, why did they withdraw? and they suddenly adapted bitcoin to their country. It's clear that they didn't understand Bitcoin when they first heard about it.

Because maybe when they first encountered it and heard it, what they thought was that they couldn't control it and had no benefit from it, or maybe they also thought that it was a threat to their country, but the truth is that later they realized that it would actually help.

[Barikui1]

Actually government sees Bitcoin as a threat base on the fact that since it's decentralized, they can't be in  control of it, and secondly, the existence of Bitcoin made almost near impossible to ascertain how much an individual is worth, if they want to track the finance of someone that' uses Bitcoin, that's why they still find it difficult in some countries to legalize Bitcoin in the society.

We as Bitcoineers just know that the more they fight it, the more it gain popularity among people around the world.

[Briankimp1]

Obviously the Government of the world are constantly fighting against it there’s an obvious division some want it gone because it threatens their failing financial systems while others who have been looking for an answer to the failing systems are grateful to Satoshi
Eventually Bitcoin will fulfill it’s destiny and rid the world of the failing financial institutions used to oppress and impose different negative ways to under developing nations around the world, I hope that as we grow many more people will get to understand Bitcoin and see it for salvation it is rather than what the destruction the government's make us think.

[husencoe]

I'm sure the government really understands bitcoin and how it works.  If the government really didn't understand and seriusly rejected bitcoin, we wouldn't be able to find the current bitcoin markets that bridge fiat and crypto.  However, there are various things that prevent the government from making it a legal means of payment.  perhaps due to significant changes of bitcoin value that make it uncontrollable, so it becomes chaos when the value becomes too high and drops suddenly.  I am very happy that bitcoin is used as a digital asset where only a community of people who understand it using it. So when sometimes bitcoin falls, it is only the community that has effected and it will not be a disaster for a country. So, just enjoy what is happening now and be grateful for it. Correct me if I'm wrong¡

[lizarder]

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.

They do not fail to understand, but are too afraid that people will abandon fiat currency because Bitcoin can provide certainty, so various framings are carried out to create a negative impact on it. As time goes by, people realize how Bitcoin has gained such huge adoption throughout the world even though some countries have banned it.

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

Which rule do you mean is unreasonable? and bitcoin does not harm anyone if the individuals involved in it are not trying to commit a crime. Bitcoin is much more independent for itself and bitcoin can also survive in the midst of inflation and recession, just as gold tends to be unaffected. It's just that people don't see bitcoin as a general step for investment because it talks about volatility, but when they study it they get an idea of how bitcoin can have the same impact in maintaining the value of the investments we make.

[oktana]

It’s not a misunderstanding. The government is restricting it because they understand it. While I like to think that they ban and restrict it so they can be in control, I also see that there are worries about cases where people use Bitcoin wrongly (to even pay for illegal things) and due to anonymity, you cannot trace it. Also, the government likes tax, they know that Bitcoin not being able to be traced wouldn’t let them take their cut of one’s money. Over time, more government will come to terms with Bitcoin, you can tell if you compare the present to the past.

Exactly! But to add to that, the government can't accept bitcoin or the use of crypto currency because it will take a long time before it can be mainstream; what I mean is, before it can be implemented by a large crowd, it's not easy to understand crypto currency. That's why even the government knows how this technology can help; they choose to ignore it as it can't be easily used by anyone, and they are aware of how powerful bitcoin can be; it can dominate the fiat currency if they just let it be regulated or accepted. But we bitcoiners are still not losing hope that someday the world will be cryptocurrency friendly so that the illegalities of crypto currency will be ignored and we can just focus on how it can help many people. But even without the recognition or acknowledgement of the government, we are still free to access bitcoin, as they can't stop us from using it; they don't have the means.

But I don’t equally think that understanding bitcoin is difficult. It’s basically copying one’s wallet address or even scanning it, and sending money just like you would to anybody using a bank. So, it isn’t difficult. The government knows that it will affect the fiat currency with which they operate. That’s most likely the case. People will care about the fiat currency and I believe it will result in losing its value.

[FinePoine0]

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 beauty of Bitcoin is this: It can't be controlled. As soon as we understand that the government doesn't exist to benefit the people, but rather they only think about themselves, your mind changes quicly.

My country is one of the most corrupts in the whole world, and they always say that everything they do is for the people, but we all know it is a lie.

It is true government which talks about development for the welfare of the people is totally false. They have taken every effort to increase their own funds, and want to absorb the country. Rather, my country is a developing country where almost people are engaged in Bitcoin investment. Investing in Bitcoin is definitely a success or failure. I have proven it to be true and I myself have invested in Bitcoin and seen some profit from it. Governments do not show interest in Bitcoin and do not prohibit people from using Bitcoin. So Bitcoin seems to me to be the last one rather than government policy and one can invest in Bitcoin in their own right.

[FinePoine0]

screw the government try this place I'm
Looking for your opinion on this website
newworldcryptobank.com

You seem new, so you can take help from the board.

Beginners & Help: https://bitcointalk.org/index.php?board=39.0

[cozytrade]

In terms of the potential that Bitcoin has created, it can be said without a doubt that Bitcoin can't cause anyone's damage. Some governments think that once Bitcoin is legalized around the world, people will only be hooked on using Bitcoin. As a result, they will lose much of their economic control. Because they are unable to control Bitcoin, Bitcoin is not a government asset. So they don't have the power to control Bitcoin. Due to which some governments have made Bitcoin illegal. But currently Bitcoin has managed to create as much dominance as. It is likely that the government will enter Bitcoin in a very short period of time.

[Xampeuu]

In terms of the potential that Bitcoin has created, it can be said without a doubt that Bitcoin can't cause anyone's damage. Some governments think that once Bitcoin is legalized around the world, people will only be hooked on using Bitcoin. As a result, they will lose much of their economic control. Because they are unable to control Bitcoin, Bitcoin is not a government asset. So they don't have the power to control Bitcoin. Due to which some governments have made Bitcoin illegal. But currently Bitcoin has managed to create as much dominance as. It is likely that the government will enter Bitcoin in a very short period of time.

if the government loses control then they will lose a lot of profits as with fiat, so it is difficult for them to legalize bitcoin, but by seeing the increasingly rapid development of bitcoin then they get new land to pay taxes from bitcoiners, and of course as citizens we can only follow the regulations made by the government where we live. but at least the government has not banned all bitcoin activities, so bitcoiners can still move to make a profit and the government gets tribute