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    Author Topic: Why did the government want to kill Bitcoin?  (Read 2359 times)

    • jademacoy
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    July 30, 2018, 07:06:29 AM
     #421
    Quote from: Handsome Boy on July 21, 2018, 12:48:35 AM
    as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
    but this is just my opinion, so if I am wrong I apologize.

    Thank You.
    Yes but this is not all about the government killing bitcoin. IT is just that the government want to take preventive measures on those reason above being stated for the bitcoin system possible abuses. We should be happy now that the government had stepped in and that means most of the country accepted bitcoin has made some regulations on its use including KYC on every client.

  • chikading2016
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    July 30, 2018, 07:34:05 AM
     #422
    I think government want to kill bitcoin because it didn't have taxes and it can also be used for terrorist. I think bitcoin is in the middle because even if the government wanted to kill bitcoin they can't easily kill it due to the huge support of its economy.
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  • Vladislav2306
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    July 30, 2018, 07:37:50 AM
     #423
    I think that tax evasion is the biggest reason for the prohibition of bitcoin. They don't really care about other people (i. e. terrorist financing, illegal weapons purchases). But when it comes to their pockets, they will do everything to make them bigger.
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  • Twinscoin2017
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    July 30, 2018, 07:42:10 AM
     #424
    Quote from: chikading2016 on July 30, 2018, 07:34:05 AM
    I think government want to kill bitcoin because it didn't have taxes and it can also be used for terrorist. I think bitcoin is in the middle because even if the government wanted to kill bitcoin they can't easily kill it due to the huge support of its economy.
    Not all of the government wanted to kill bitcoin. I believe that there are also government that support bitcoin because it has also a great advantage, wee are now in the modern world and crypto is also slowly becoming a part of the human life. It is really amazing.

  • btcjocan
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    July 30, 2018, 08:14:56 AM
     #425
    Quote from: Twinscoin2017 on July 30, 2018, 07:42:10 AM
    Quote from: chikading2016 on July 30, 2018, 07:34:05 AM
    I think government want to kill bitcoin because it didn't have taxes and it can also be used for terrorist. I think bitcoin is in the middle because even if the government wanted to kill bitcoin they can't easily kill it due to the huge support of its economy.
    Not all of the government wanted to kill bitcoin. I believe that there are also government that support bitcoin because it has also a great advantage, wee are now in the modern world and crypto is also slowly becoming a part of the human life. It is really amazing.
    Probably not all of the government wanted to kill bitcoin, perhaps there are many government in thier countries support to use bitcoin. There are few governments not accept bitcoin, but compare to those government who support the uses of bitcoin it is nothing. Many government are now open minded to use and support bitcoin, because bitcoin helps to make our economy grow fast.

  • jonikris
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    July 30, 2018, 08:15:38 AM
     #426
    yes that's what their governments fear so much fear if bitcoin is used in illegal transactions that harm the state

  • nicko122
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    July 30, 2018, 08:20:04 AM
     #427
    Any currency or resource can be used for the wrong purposes. This does not justify attempts to ban bitcoin. Rather more important is the fact that bitcoins are decentralized and can not be completely controlled. I think this does not suit the governments of the countries.

  • kram31
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    July 30, 2018, 08:21:22 AM
     #428
    They dont want bitcoin to replace FIAT as they dont have control with this currency.
    They dont want bitcoin to be a part of corruption and war funds.
    Bitcoin have 2 sides of effect a good and bad.

  • Angna27
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    July 30, 2018, 08:27:08 AM
     #429
    Simply because this is a threat for them, losing prospect investor and depositor and clients and also becuase they have no control over it and they cannot use it money for other business transaction they have, its decentralized and no one has ever be able to intrude with it.
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  • Niggasdonttalktome
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    July 30, 2018, 09:16:40 AM
     #430
    If their cryptocurrency circulating in everyday life, the bank will go bankrupt. And the government will take a big damage.

  • Getmon
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    July 30, 2018, 09:29:36 AM
     #431
    Quote from: Handsome Boy on July 21, 2018, 12:48:35 AM
    as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
    but this is just my opinion, so if I am wrong I apologize.

    Thank You.

    You are partly right, but the ultimate reason why governments do not want Bitcoin is that they cannot control it. Bitcoin can and is existing without the governments. They do not need the governments. The governments want to control everything including Bitcoin. And since they cannot impose the same power over Bitcoin, they want it banned. The reasons you mentioned are not as related to Bitcoin as they are to the fiat currency.
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  • Asawakobana2017
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    July 30, 2018, 09:29:50 AM
     #432
    Quote from: Angna27 on July 30, 2018, 08:27:08 AM
    Simply because this is a threat for them, losing prospect investor and depositor and clients and also becuase they have no control over it and they cannot use it money for other business transaction they have, its decentralized and no one has ever be able to intrude with it.
    Yes I agree on that, there are appt of reason why government wanted to kill crypto. One of the main reason it that the bitcoin is not taxable second is that anyone can used bitcoin even the terrorist can use it with some eligal activities. I believe in bitcoin and it's amazing features but even if it is almost perfect there is still government that wanted to kill bitcoin or maybe crypto.

  • adnandanish102
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    July 30, 2018, 09:39:51 AM
     #433
    I think that the reason is,the flat money transactions involve taxes depend on our amount of transaction but in bitcoin transactions case,their is a specific amount of bitcoin that the wallets take from us.Thus the governments try to kill bitcoin because they are probably no longer able to eat taxes.

  • ganlianshifu1
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    July 30, 2018, 09:39:57 AM
     #434
    The reason is that the characteristics of Bitcoin are endogenous and cannot be erased - it has the nature of challenging traditional currencies! It completely subverts the sacredness of the central bank system and depicts us an alternative picture of a competitive currency issuance system.

  • Jerzzz
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    July 30, 2018, 09:42:29 AM
     #435
    For my own opinion regarding this matter, the reason behind why the government want to kill the Bitcoin crypto currency is because they want to control over it but they cannot since this crypto currency is a decentralized one, and not only that because its users are all anonymous and the government cannot trace all its users.

  • Sakura0990
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    July 30, 2018, 09:50:57 AM
     #436
    Quote from: Handsome Boy on July 21, 2018, 12:48:35 AM
    as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
    but this is just my opinion, so if I am wrong I apologize.

    Thank You.


    Because they can not control digital money and can not collect taxes, they are forbidden.

  • ynatopak14
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    July 30, 2018, 09:53:29 AM
     #437
    Government can't control BTC and its transactions.
    Countries need taxes from its people and products.
    This will be impossible for BITCOIN users as every people have different wallet, they also have more than one for better security.
    which any country can't have records for every people.
    TAXES will be difficult to have.

  • Miguel Fulton
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    July 30, 2018, 09:57:07 AM
     #438
    Control - it shouldn’t.

    Regulate - this is a different story.

    There are two approaches:
    - Cryptoanarchism
    - No regulations at all
    - More classical one
    Some regulations should apply, but only those that make sense
    Cryptoanarchism is very tempting. It offers you freedom and the feeling of you beeing your own government. Hovewer in order to understand the second one you should remember, why were the classical regulations introduced. They vere not introduced to control you, but to protect you. KYC and Anti money laundering laws and regulations are actually good for a society, cause they make it harder for criminal to operate.

  • Linhkej
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    July 30, 2018, 09:58:33 AM
     #439
    Quote from: Handsome Boy on July 21, 2018, 12:48:35 AM
    as we know, many governments in the world are banning bitcoins and here I have my own why the government want to kill Bitcoin, because I think Bitcoin can be used for terrorist financing, money laundering, illegal weapons purchases, crime and tax evasion. therefore the government forbids Bitcoin, because Bitcoin transactions are difficult to trace so it is only natural for me if the government is very worried about Bitcoin and many country banning (block) Bitcoin.
    but this is just my opinion, so if I am wrong I apologize.

    Thank You.
    Governments want to kill Bitcoin because they can not control it like paper money. It protects user information too well. Its transactions can not control the way they control paper money through the banking system. They fear that illegal trading activities will have a negative impact on their country's economy.

  • burky156
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    July 30, 2018, 10:10:04 AM
     #440
    The goverments were right and first they all want to kill all the cryptocurrency. Yes they were right but they couldn't fight with it and they lost. As far as i can remember last week the South Korea accept the crpto money and now almost every country is accepting it. Yes there are still very bad ways to use cryptos but i am sure that the solution will come for this dangerous things..
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