Will governments try to kill bitcoin?

[Onachukwu]

For anyone who ignored the common crypto-slang advice to "HODL," to hold on to your investment for dear life, and decided to cash out, those profits are considered income by the IRS.

 

[Dowenship]

The moment they realize its becoming a treat to them in general they might bring up some rules of policies but don't be surprise that when some individual in the government are investors in bitcoin.I see no reason why government will crash bitcoin

 

[Odebunmi ajewamiri]

Will governments try to kill bitcoin?​

I'm very certain that in the nearest future most government would see the use of Bitcoin and other cryto currency as treat to their governors because it of the way it has widely been accepted my citizens ,

 

[Thosynho]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

I doubt if any government can kill Bitcoin as you put it. Bitcoin has gone beyond the control of any government as it has become a global currency accepted online for transaction. Some offline businesses accept bitcoins.

 

[Tinaconcept]

Government won't kill bitcoin they might try to bring up rules to guide or curtail its use but it will be difficult for them to kill it. Okay for instance they were able to kill it in a country can they kill bitcoin world wide? I think no
So to my own view bitcoin has come to stay.

 

[Iamt_tommy]

Well depending on the country, I I would strongly suggest that government shouldn't try to kill bitcoin because it's the next big phase of seamless and bankless transactions.... I would be very bad if the government of a country kills bitcoin because it would even help the country positively

 

[hani20980]

I think most of gouverments will just make some taxes and allow the use of cryptocurrencies at the end
because it's hard or almost impossible to ban bitcoin so i think they will just ask crypto users to pay some taxes

 

[Felixko]

the government can only issue warning but cannot close bitcoin down. this is because, if the government try closing bitcoin it will surely affect people negatively . Bitcoin serve as a source of income to many people in some countries.

 

[btaliat]

Bitcoin is a decentralized coin which cannot be stopped by anybody even the founder. The only thing government can do is to regulate the transactions among her members or outright banning of cryptocurrency among her citizens but not stopping.

Post automatically merged: Feb 28, 2021

Bitcoin is a decentralized coin which cannot be stopped by anybody even the founder. The only thing government can do is to regulate the transactions among her members or outright banning of cryptocurrency among her citizens but not stopping.

 

[Lyrrex]

I will say it all depends on the type government in Power. Although most government think and believe crypto currency most especially Bitcoin ethereum, litecoin, altcoin and ripple are illegal transaction. There are still some few government who still support crypto currency and it growth.

 

[Setfragil]

You raised a good topic and I love your submission. Government of many countries are already banning cryptocurrency in their respective countries claiming that it encourages fraud and terrorism while some could not give tangible reasons for the ban of cryptocurrencies in their countries.

 

[Justin]

Even though bitcoin is not legal in a lot of countries, bitcoin is not being killed by governments, bitcoin is being killed by influencers who are talking bad things

 

[Dowenship]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

Definitely its a threat because GDP of countries might remain stagnant unless the country create its own coin, then if that happens i see no reason why crypto will before a threat to government.

 

[Nomad]

In some countries government is trying to kill bitcoin, China for example. However, in some countries bitcoin is legally accepted as a prime currency, El Salvador for example.

 

[FreshKaz11]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

Of course, you are very much correct because some of our governmental cabal see it as threat to their ways of earning so they will find all possible way to stop it though.

 

[Sotherefore]

Bitcoins do not have any criminal record or anything that could make the government of any country to label it as an unlawful cryptocurrency, I don't see the reason why the government would like to kill bitcoins.

 

[Nurudeen]

The government are already trying to kill Bitcoin and the entire crypto currency exchange Business at large just because they know that the sector will lose a threat to their own personal Fiat Currency in the long run

 

[Chibson]

There are countries that see bitcoin as a very good opportunity and can we have a very good help to their economy and there are some that don't.

 

[BrolySSJ]

Maybe. Bitcoin might be the idea that eventually brings an end to the global bank and government monopoly on money. Some governments might see that as a threat to their power. Others might embrace Bitcoin and its potential for economy.

I think that many governments are actually against cryptocurrency and there is a lot of fake news that is being spread around in order to try and reduce the number of investors that are going into cryptocurrency. Hopefully in the future governments are actually able to see the benefits that it brings to the economy and be able to adapt it accordingly.

 

[Josemendez]

The government of any country that feels that cryptocurrency is affecting the country negatively can ban it in their country .