Government and their fear for Bitcoin!
Bitcoin as a decentralized digital currency that operate without a financial system or without being controlled by the government is really creating panick and fear in most government officials.
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Is it really creating "fear" and "panic" in most of the government officials? I doubt.
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The government just want to be in charge of everything, from monitoring your transaction to knowing how much people are worth financially, but Bitcoin is becoming too powerful for them too handle, which to me is understandable, but to them it's a ugly reality.
Financial power and control is returning back to the people, which is a welcome development.
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They still track what you are doing with bitcoin. I am sure you have used some sort of crypto currency services that asks for KYC. Also, you do need to report voluntarily any transactions related to crypto currencies in most of the country or you end up breaking the law..
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The sweet reality is that Bitcoin is here too stay, if they ban Bitcoin the mass will rise up against them, so they are just looking for a way to contain the influence of Bitcoin and discredit it.
To me Bitcoin is one of the best thing that has ever happened to finance because everyone loves privacy.
One thing I love about Bitcoin is that when the haters voice grows louder and the value drop base on their policies, just to attack it, Bitcoin still fight it way back up,
Please the government need to know this, they have already lost.
All the bitcoineers cheers
There more than few countries that have banned bitcoin and we haven't seen any "mass rise up" against the government. The government isn't looking to contain the influencce of bitcoin nor discredit it. They are just trying to create laws and framework where they can indirectly control the whole market and people are obeying the laws. So the government is winning here. Not us.