No Governments doesn’t hate you own bitcoin, they hate the fact they can’t see who owns it, they can’t tax it what they don’t see.All they see is strings of letters and numbers on the Blockchain!


No govt doesn’t hate you own bitcoin they only hate the fact that They can’t tax what they don’t see or know of. Governments wouldn’t have anything against you owning bitcoin as long as they can take 10%, 20% or more whenever you make a transaction. The problem they have with bitcoin is that they don’t know who owns those strings of letters and numbers on the blockchain.

It’s the user wish whether they want to convert their BTC holdings into Fiat and report it to tax authority for taxation purposes.Its only your choice no one can force you to convert it into fiat. But if a govt wish to know who owns the certain strings of numbers and letters on Blockchain then it could be time consuming and expensive process to follow and to snoop into millions of BTC’s addresses could be a disastrous process.

This results, the people running the govts pretending that they don’t understand how BTC works,from where BTC derives it’s value? And tell people it’s the magic internet money only used in illegal businesses.

Even after years,govts just can’t understand they can’t ban Bitcoin or any other decentralized Cryptocurrency because they can’t control it. The Bitcoin network has evolved and become so powerful in itself that it’s impossible to stop or control it.

And any govt banning Crypto is just like An authoritarian regime banning Human Rights violations,the ban doesnt make any difference other than make them look good and boosting the ego of the politicians,In Crypto the ban could effect the prices for a shorter term, but in longer term it is just a blip on the chart.

submitted by /u/Acceptable_Novel8200
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