why should governments allow bitcoin to continue grow?

[abaid]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

[pwt22]

There can be a lot of reasons. If they would outlaw Bitcoin, it would just be moved to the deep web and it will become much harder to monitor transactions and crackdown on criminals who use it for illegal operations. When Bitcoin is legal governments can just work with exchanges and other services if they need to investigate something. Bitcoin is not much different from cash - sure governments can't print more Bitcoins, but they can print more fiat and buy BTC with it. It's very likely that in the future governments and banks would adapt to Bitcoin instead of fighting it.

[blanco12]

They can try, but the very essence of Bitcoin is decentralization. Meaning there is no central authority that gets to control who can and cannot use Bitcoin, and what Bitcoin can and cannot be used for. Let’s go back to the case of China’s attempt to ban Bitcoin in October of this year. China banned mainland residents from trading in cryptocurrencies on exchanges and made it illegal for Chinese start-ups to raise funds via initial coin offerings. But what the Chinese government forgot to remember is that block-chain is decentralized and entirely autonomous.


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[ShitcoinStorm]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

They should not. They always try to tame Bitcoin and always failed so far.

[Crypto-Geek]

The main issue governments dont let BTC and crypto to grow too out of hand is because of how hard it is to regulate it. If they can set a standard way all over the world to regulate crypto, they would let it grow.

When i mean regulate, i am referring to two main ideas: Volatility and Security

Volatility:
- how will they control the price if they do not control the supply
- how will banks have any control in terms of rates of exchange / growth of value

Security:
- How to prevent use in black market (KYC and AML is something Korea is looking into with their recent changes)
- wallet security vs bank accounts, a lot less secure

[danivan7]

hi there
I wonder why should governments allow bitcoin to continue growing?
after all, they want to have control over the money that we are using

maybe if in the future bitcoin have a stable price , goverment will think about adopt bitcoin for payment methode.

[cryptodude]

Many governments are watching BTC and are already wondering how to impose further taxes on people who are enjoying it. Another profit for the country.

[bdsharminsoltana]

Because the government can not directly control all transactions with bitcoin where we know that bitcoin is global, so the government just let it grow as an investment choice for its people without giving any response to the bitcoin owner. Can we make sure the government does not want to be responsible for losses that occasionally hit a bitcoin user? But by letting it grow then the government did not forget to keep monitoring its development because at any time bitcoin could be dangerous or beneficial for a government.

[yousufatik]

Government should allow Bitcoin to continue to grow because it can help people to achieve or to obtain money to support them. We all know that government cannot help every citizen under their country so instead of banning Bitcoin they should just support every Bitcoin user in their country. But the problem is Government can't find a way to Control Bitcoin , to get from Bitcoin so Bitcoin is banned in some countries.

[Abusadeeq6]

Its has to take a lot of strategies to ensure acceptability of bitcoin within the government system. They want to see how the bitcoin will end its journey

[Dprincebh]

The government can't take control of the Bitcoin ecosystem because it is decentralized, it has already given out freedom to some people and it is safer