Many countries are trying to stop bitcoin trading and they have banned cryptocurrency from the country. But why they are doing like this? Where people are going to rich by Bitcoin, They are getting huge benefit by its. Then why government trying to pull down Bitcoin? What is the main reason? Please share your thought.
Thank You
I think the underlying reason is control.The government and its various agencies cannot exercise full authority and thus leadership without some measure of control over its citizens.Crypto-currencies sorts of disrupts this balance because of its decentralized nature.If they cannot control it, then they cannot take taxes from it nor can they restrict its use in certain activities the government considers foul play.e.g money laundry.Hence the hostile approach by some government