Topic: Cryptocurrency will always be threat to government - page 2. (Read 271 times)

There are some reasons why government will act like this and against cryptocurrency. Because not all government is against crypto.
1. Regulation in that country
Sometimes, the regulation states only that crypto is not available to be used as a currency because they only have standard currency to be used as a means of payment in that country.
2. It is political, yeah, some people in the government also don't like crypto because of the politic strategy, it is the most common happen, there are many interests on crypto, about the wealth and also other interests.
Additioally, there also some instititions that are against the crypto because it may decerease their value and also peopleinterests in that.

And I may also agree with some people arguments about taxes, there are some countries with no taxes for crypto, this is also the reason why it is againts. Or because they cannot also regulate crypto.

It depends on what you mean by cryptocurrency.
There are already some government issued cryptocurrencies in the making so we cannot generalize like that. Furthermore, if governments regulate cryptocurrencies' business and trading, then I do not see why their presence would be a threat.

You may be right but some country will adopt bitcoin by creating their own platform. For example, they will create an exchange, wallet or a wallet where you can buy and sell crypto but there is a spread when you buy and sell. I have experienced it myself where for example I want to buy bitcoin worth $500 dollars but the bitcoin I received is 0.01436279 and when I sell the same amount of bitcoin I got $480+.

Governments sooner or later usually find their way around things to impose their dominance and control, but the situation with Bitcoin and other dex crypto is somewhat different, there's no government that will be able to ever control it, print it out, or be a body running it's affairs, in that case, it's a situation that the government would never be victorious in, thus how do they attempt to get back at the network, they do so by imposing regulations, and erroneously believing that their CBDC's would be a competition to a decentralized coin like Bitcoin.

Having said that, I know quite a few countries may not have banned or regulated dex crypto, but they are mostly small nations; the bigger countries that would prolly have contributed to mainstream growth are actually going on with their crackdown, China, U.K to mention a few, I think this big countries are actually pursuing centralized economic dominance, thus they don't want their citizens to "be their own bank", and they want to encourage them to use only one digital currency, being their own digital fiat.

Not all government but since majority are doing this I understand the need to generalized. Government like that of US and China, including others giving Bitcoin a hard time, all know the true potential the currency has to disrupt the existing currency which had failed. They fight it because they don't want it to succeed but failing to realized they're actually giving Bitcoin more publicity by so doing.

It must not always be this way though, they government don't have to always see bitcoin as a threat instead they can see it as an improvement on the existing currency industry and make it to good used as country like El Salvador has done by legalizing it.

you definitely can't make this claim now that there are many countries that have accepted bitcoin with open arms. the most recent one is El Salvador that accepted bitcoin as legal tender. so you can see that bitcoin is not a threat to "all" governments, just the ones with corruption that feel threatened that they may lose their grip on money printing and their control over economy.

yes, this is an additional demand for dollars, for this reason it is not forbidden to buy gold, too

The governments will likely increase regulation on cryptocurrencies, at least while fiat currencies are the mainstream currency. So, while governments won't be able to manipulate or destroy cryptocurrencies, they will, and have been regulating them giving less of an incentive to those that want to get into cryptocurrencies. Also, the governments control the news outlets, and if they want, and I believe this probably has been the case, they can influence the public opinion via propaganda. So, while Bitcoin, and any other cryptocurrency for that matter won't be destroyed by the government, the governments can most definitely limit, or slow down its influence on the public.

Some reason is that they think that Bitcoin or cryptocurrency in general, is a threat to the financial system institution and it could be used in any criminal activity such as money laundering or any illegal purchase that could be used against terrorism that could harm the government.  But in fact, fiat can also be used for illegal activities as I mentioned above.

Another reason is the threat of the business in the central banks when Bitcoin has become in the mainstream and everyone didn't put money on the bank instead, investing into Bitcoin.  This is also a big loss to the government since central banks and governments are helping each other with the aim of economical growth.

The last one is, most crypto holders can hide their assets through crypto and avoid taxation.  Since it is decentralized in nature, governments are at a loss of control over it.  But overall as a crypto user, it will always have a benefit on us than the government.

OP I suggest you move this topic to Economy board. That is more fitting for this discussion. Although this topic has been discussed countless times I'm sure members would still love to drop their opinion on the matter

It's obvious from initial that government always kick against cryptocurrency especially bitcoin, before bitcoin became viral across the continent's, their was no challenges or opposition who interrupt the uses of cryptocurrencies from the day bitcoin was introduced in 2009, but just of a sudden bitcoin became enemy to government, "why? Because bitcoin is not centralized and it can't be controlled by government agencies, but at some certain points some countries who rejected the adoption of cryptocurrency especially bitcoin started allowing bitcoin transaction's to her country,

Now giving a census of countries as across the world that they government adopt cryptocurrencies or values bitcoin is few, but using figure as illustration's, if  countries is hundred percent (100%), it's not up to thirty percent (30%) countries that adopt the use of a cryptocurrency fully. So compare the statistics, then you will notice that it's obvious that government is against bitcoin generally.

I seen that the major factor or reason while government is against bitcoin is because they Lacks finance in their banking system currently, and they are into transactions with bank Management's, and the money in the bank that belong to people they invest with the money to yields profit for them, and now it has been used to invest in cryptocurrency by the rightful owners, This is from my perspective.

The government of some countries like to take the full control over all happening in the country, that is why such government will try all their best to make it possible for their citizens to not use what is beyond their country or that can not be centralized, cryptocurrencies are not centralized which makes many banks to be affraid of the future, supporting the governments to make sure cryptocurrencies are not legalize in their country, but with all these happening, cryptocurrencies are growing while some counties are supporting it and deckear it not illegal.

A better thought process on this is that it is a threat because they cannot control it. They couldn't control the supply or even manipulate the data in the publicized legder. I don't think they would be willing to show their every transaction because they might get questioned for it or something. I think it could be a great idea for those supporters from the government to sign a message and acknowledge their wallet addresses and show that they support it and check their every transaction etc.

It's normal everywhere, even the human body itself also offers some resistance to what is foreign to it worst still, what is above its control and to some extent would affect the way things are done in the benefit of the formal. So, I don't blame the government for revolting against crypto just that, it feels sad that, the government is not about the citizens themselves but, how it could take care of itself and how the citizens are minimally considered in course of doing that.

The government is supposed to be for the people but then, the story is changed. As government generally view the masses as a powerless and poverty stricken people and instead of seeing bitcoin for the good it can do, the financial freedom and liberty it could bring, its being viewed from the worst that could happen and how it won't help the economy. So sad!

something new, often not accepted by society, business and government, this has become a very common thing in the world of technology. But, slowly all who had resisted began to see the potential, which finally accepted the presence of the technology. Currently, the government is not completely against crypto. Indeed, some reject it, but some accept it only as a commodity asset and some have also accepted crypto as a currency in their country. This is proof that governments that reject BTC and other cryptocurrencies today are just biding their time, because in the end, once tizens accept crypto, inevitably, they change their policies. The government in my country, Indonesia,  also reject crypto, but then they changed the rules and accepted crypto as a commodity asset. Maybe, other countries are the same, they refuse to make BTC a currency and commodity in their country for now, one day, along with a change in leadership in that country, it could also be a change in crypto-related regulations.

Some Governments are against crypto used as a currency but they are not against crypto as an investment asset. There's a big difference between the two. They may not like it but authorities cannot ignore the fact that people are moving their money to crypto. So what do they do? They'll just regulate centralized exchanges and tax traders or investors. That's easier and more beneficial to them.

The government always go against things when they are not fully in charge and having control over it. Government can partially or not at all accept cryptocurrency because cryptocurrency is a threat to the government. Already many people knows about the benefits of cryptocurrency and if it's not challenged by the government many people won't  be willing to do their savings or business with the central bank ,instead they would prefer to invest their money into cryptocurrency because of it interest they will gain and other benefits.
Government will always be against it, but it can't stop the existence of the cryto world