Topic: Government's actions against crypto - page 3. (Read 1890 times)

In most of the countries cryptocurrency is not accepted yet but those countries which show no restrictions towards cryptocurrency will not show any restrictions in my opinion because they realized that how worthy it is. No one can deny the importance of cryptocurrency and the financial system of most of the individuals become good with the help of crypto investment.

Actually some country also banned crypto because they know the fact that people move towards money making ways so they will move away from other jobs which is important for country's prosperity. There is a hope that eventually every country will accept bitcoin investment as there is job limitation in each country and providing job to every person is not feasible.

You are absolutely correct Mr DaNNy001 on this, I think reasons for government having this negative behavior towards Bitcoin is because of their selfish reasons. You know due to the authenticity of Bitcoin  and the ability to track wallet address in the blockchain explorer i think, it tend to poss treat to the government as most of them engage in fraudulent activities. Don't get me wrong, I know what I am saying, in the year 2018 we were told a snake crawled into jamb office and allegedly swallowed 36million naira, just imaging the rubbish. What do they take us for, a fool? I believe this is a clear evidence enough to prove that I am not saying bullshit, I am fucking tired of the system and how they have denied us the ability to freely make Bitcoin official in the country.

I think government actually do all this sometimes for selfish reason, I say this because most government feel they can't control and regulate this coins they tend to put a ban to it and lead their citizens to the use of their controllable fiat currency.  Cryptocurrency especially some  coins that have gained reputable like Bitcoin will be hard to stop even by the government themselves because when it comes to painting with scam view, people still tend to use it because if the consistency and reliability of it over the recent years and this view of Bitcoin covers every other cryptocurrency out there.

Well maybe the top coins will be affected, but I'm pretty sure I don't have to worry about the TFS token. Especially with their APY I will be able to save up the necessary amount to insure myself by this time

Governments want to protect investors, but at the same time, they want to limit crypto's dominance over the mainstream economy. A powerful crypto industry would destroy the banking sector in the long run. That would mean less power/control for both central banks and governments, while people obtain true financial freedom and sovereignity. As long as governments exist, don't expect crypto regulations to ease off or disappear anytime soon. I'm fine with that as long as I'm able to use crypto in a decentralized manner.

Without decentralization, crypto will eventually die. Bitcoin is by far the most decentralized and censorship-resistant cryptocurrency in the world. It's the one coin that governments pay most attention to. If it stays that way, no one will be able to stop it. Hopefully, crypto will be able to survive alongside Fiat currencies for generations.

Yeah some countries arround the world want to block cryptocurrency in thier respective countries and we don't know why they do that as we all know that cryptocurrency is one of the best investing platform, maybe those countries don't want their people engage in crypto cause they think that once it will happen then thier people will go for investment rather than working from then with a minimum wages. Just an opinion we really not know what's the main reason.

It is understood that governments like to save their people from scams. But with their actions, even the legit ones are also affected and that's how they take the issue.
And people can't do a lot with this because they might go against the government and it's always their final say that will be followed by the law. Just get the positive take on it that they're also driving down the scams and tracking the scammers to serve the sentence that they deserve. At least that's a good consolation for one to take.

Some of the governments just wanted to save their people from scammers and Ponzi Schemes because when people are still learning about crypto and others in their country are still ignorant about it, the scammers mix real information with their schemes and encourage their victims to invest in their project like the old cloud mining we once had in the internet and it was the most trending at that time when there were no ICOs and other. right now, people need to have proper knowledge about crypto so that their government will have no problem opening the opportunity to invest for them.

Of course. They're not that stupid. By introducing these restrictions, they hope to limit crypto's ability to take over the mainstream economy. Otherwise, Fiat currencies will lose power. What governments will only be able to successfully achieve is regulate centralized crypto exchanges and service providers. Blockchain protocols themselves will be impervious to regulations due to the way they're designed (decentralization). The more people use decentralized alternatives, the more difficult it will be for governments to get ahold of everything.

Let's all hope crypto stays that way for it to beat banks. You can see these entities are afraid of the revolution. Their intentions to launch CBDCs with mainstream governments tells us this. People won't abandon Fiat that easily (especially when most salaries are paid in Fiat and merchants accept it everywhere), but crypto will make such an impact that will leave its enemies furious. Who knows if crypto lives alongside CBDCs for generations?

I believe after the success of altcoins in countries that had adopted it would prompt other countries who had either ban or imposed some sort of regulations to have a  rethink about their action and soften their initial restrictions, for instance the success and thriving of crypto in USA would possibly encourage other top nations to start adopting crypto though regulations would still be imposed notwithstanding many cryptocurrency investors and enthusiast would be encouraged and motivated to invest in it, I think the best alternative rather than an outright ban by many countries, meanwhile a of jobs would also be created thus provide plenty opportunities for the unemployed.

Doesn't matter if they keep emphasizing the negative side, most of these country's citizens already understand what crypto is and its intricacies. In fact, all we want is for them to legalize it, and when they do, you'll figure that a lot of people already use Crypto and they are just waiting for a public announcement saying that it is now considered legal. Though I understand that some countries may fear how fake altcoins could ruin their people's finances, maybe they should try to educate the people on crypto if they really want to make it legal and safe.

because of crypto’s ability to maintain their users’ anonymity it has been possible to do transactions without it leading to the person who has made the transaction this feature allows users some privacy which in turn lessens the possibility of that person being robbed or falling victim to any malicious intent

even if it might seem convenient this very reason has its own cons as well

since people can do transactions without identity, it has become a way for criminals to make transactions without them being traced to wherever they are the government is scared of these type of things and wants to prevent it from happening as much as possible

however cryptocurrency is slowly becoming into a normal occurrence in our lives in which government are gonna have to join and participate

I agree with you the government will never be able to control crypto if there is a problem between them it will usually be the government will have to find an alternative the crypto market is very unlikely to be decentralized centralized. The crypto market will thrive without any government intervention. Crypto won't be able to control itself by damaging everything the government has, crypto will run at its own pace.

We know that not all corners of the world would really be accepting or recognizing Bitcoin of its existence. Yes, there might be seeing some positive of it but majority of them would really be going or emphasizing on that negative side on which its not really that shocking anymore.Government doesnt really like on something which cant really be controlled on which means that they would really be that opposing on Bitcoins existence on which they've been had already been trying it for a while now. It turns out that they cant really be that totally be able to crack it down or simply shuts down and this what makes into those whom do support Bitcoin did build up
more trust and recognition into its existence yet having something which government couldnt be able to trace and able to control on, then this is something that what most people preferred.

Although, people would really be that still sticking into those traditional things but somewhat they do really get involved at the same time. There's nothing they can do if a certain
individual would really be hiding up their assets on crypto form and this is why they do really that focus on trying out to centralized on everything.
Ex. Exchanger and similar stuffs. This is where they do only have that kind of at least a good hold for us crypto supporters in entire market.

IMO, I believe that some countries have already adopted Bitcoin because they see it as a window of innovation (technologically and economically) while other countries will someday accept and embrace Bitcoin (It may take a long while though), some countries may still want to oppose it because it will reduce people's dependence on traditional financial systems. I mean... take a look at how Bitcoin provides a system that bypasses the regulations of the traditional banking system. Some countries have seen that if they made Bitcoin legal and it gets adopted, it would likely weaken the influence and control that politicians put on the economy, which will then limit their ability to manipulate financial systems for their political needs.

We should just figure out what makes us happy, Every season, you endure the same insults, we just have are on the verge of ruin our destiny. Not everyone is well-versed in cryptocurrency; more initql individuals tend to trade cautiously, while others are open to the fact that USA is a developed country, and they are tampering with the hopes of young traders and investors who are eager to explore new opportunities. Some governments are concerned about the bullish rise of bitcoin because of cryptocurrencies surpassing fiat currency, which is stands to be a hugh threat to the government. 

  In my opinion, this has been happening for several years. In fact, there are other governments that want to fully control cryptocurrencies, which is impossible to happen in reality. It is possible for cryptocurrencies that are under the centralized-based concept, but purely decentralized cryptocurrencies cannot happen.

  That's why the scenario that other governments are doing will never go away; they won't stop until they get what they want to control it, and they also can't stop the innovation that is happening in the crypto space. These are facts known here.

My nation would be the perfect example of such country that wouldn't want Bitcoin to be legally used and I think the reason for this in my country is a bit different as I feel because of greed and so many other factors that amount to selfish reason is actually the cause for this rejection although the mass public has made sure that Bitcoin is certainly used to the level that its awareness cut across to everyone despite the refusal by the government.

Not only in the USA but also in other countries around the world, various governments are looking for ways to stem and block cryptocurrencies with increasingly stringent KYCs on exchanges, strict laws for AML, an alternative and valid payment system like cryptocurrencies is scary, they have fear that banks will lose absolute dominance on the markets

This issues isn't peculiar with the US alone, even in Africa, some countries have brought up issues against crypto currency which is mostly based on regulatory grounds. These countries wants to be fully involved in regulations of crypto currencies because some of them are scared it could be used for laundry and similar crimes, this has further led to some crypto company relocating to other countries where the policies are mild on them