Topic: Is it really bad that Goverments are trying to control Crypto-market? - page 2. (Read 421 times)

Governments and banks became too closely linked so now governments have a vested interest in making sure their banks make money. Cryptos are alternatives (better in every way too) to banks -> soooo makes sense that governments want to benefit the banks.

Its difficult to forecast and plan economically if your not able to predict or have an idea of the factors that can spell disaster. Its difficult to design fiscal policies around a system that dosent go through the channels that they have policies to regulate and also to report  transactions above a certain threshold, for eighter tax purposes or just general government nose poking.for now bitcoin presents certain challenges as its that more difficult to track and maintain accurate records as to the volumes of currencies that are moving at any one point or even who is moving it for sure .bitcoins isn't untraceable ...people don't be fooled it is traceable however it will require more than the average investigation and analysis to do ....there are numerous cases of people being locked up for trading in bitcoins . its a terrifying scenario to be faced with if you are a financial minister as it could severely affect your country if millions of dollars are running through bitcoins and not through your regulated institutions , first thing is you loose all that tax income that would be going to your coffer, then you might find that there may be institutions closing resulting in increased unemployment so bitcoins is a real economic game changer , i might not agree with the steps some government have taken to ban bitcoins however to some extent i understand their fear. Solution...commission some sound financial thinkers to study bitcoins through and through and come up with a game plan to integrate it into the economical plans , because it can also bring serious economic growth and social development if its used properly.

I think the governments all over the world just wants to regulate the flow of their currencies. They just want to regulate cryptocurrencies to avoid incidents like money laundering and also people being scammed by illegal ICO's. They don't want to control the crypto-market, they just want to help us traders & miners to be more secured in our finances.

My opinion in this is that the governments are just neutralizing the flow of fiat money. Big trades in crypto creates deflation in the money of the country of itself because as far as I know there is a volume even in fiat money. It is true that they are not against the blockchain but they are certainly against deflation since it will greatly affect the economy. Although these question requires vast knowledge of almost everything, I am not very sure if what I had said is correct so pardon me.

It is bad, yes. But in the end, I am pretty sure the government won't be able to do so. Unless they start a department of some kind that bans cryptocurrencies.

It is ok to be regulated. But in all that regulation there are many faces that wants money and I mean a big chunks of it.
Today in fiat system someone can have billions easily, but if you want to make some on smaller scale it can be a problem.

In my opinion, legalization is needed in part. You receive income from the sale of coins, but you can not spend this money legally. If you buy an apartment you need to indicate the source of income. What are you writing there? I sold bitcoin? In this part, I am absolutely "for" legalizing. Pay a small tax and calmly spend.

My suggestion is try to study and learn more about blockchain technology.
Because the risk is that if you don t manage the basics of blockchain in general you can be victim of FUD AND FOMO and false news around the net.

Cryptocurrencies can be manipulated but cannot be controlled at 100%
And this depends a lot by the knowledge that crypto believers have of the enviroinment in which we are, because in this way crypto believers can fight against manipulation and be aware of what is really happening .

At the moment governaments are buying crypto , pumping cryptos and trying to put efforts to make them more " "legal" and taxable.

Butit is a sort of leverage, because on the other side there are enteprises that come together to make the pulse with them.

All is going fine, just stay calm and skip fud.
Be ok.
Cheers

Cryptocurrencies are accessing areas that are the business of government - primarily anything to do with interacting with government currencies.

If they'd stayed purely crypto to crypto there would be far fewer issues but people naturally want to cross pollinate.

As it's infringing on government business it's inevitable that they're going to assert their authority.

To be honest governments are not trying to control the crypto currencies they want to make money out of it,if the decentralized system develops then there will be no revenue for the governments so they are trying to regulate it with heavy taxes and in the name of ban.
But no one can ban a decentralized coin but they are controlling the exchanges which is the way for us to convert our fiat into crypto and vice versa so they are taxing as per our income.If we crypto not to be controlled,then we need to adapt to the crypto to crypto system,and no more fiat conversion.

on some level this was expected though!
bitcoin is not something small that doesn't do anything. it may be small but it is growing fast and it has the potential of becoming huge. and it is disturbing some corrupted systems in some places in the world including banking system. this means bitcoin will have a lot of enemies, including governments who will try to control bitcoin.

but remember not to confuse this (meaning control) with regulations and what most of the world are trying to do. that is not a bad thing. it will help the growth and will help weed out criminals.

When the crypto market well controlled by the government this will bring a protection for the individuals rights. the level of the trolling power is important this has to be partially shared. In general people should pay taxes on their income from this ecosystem.

If the government is not greed then it is good that the government will hold the cryptocurrency. But as far as I see, government will just make an advantage in cryptocurrency and one of it is they will impose taxes.
There will be a good or bad in controlling of the government.

Its counterintuitive but no its not, its completely what you would expect. Whats good is regulation will make the market more stable and safer for ordinanry investors and allow more mass acceptance, so theres a lot of room to grow and govs csnt stop it (see my signature)

You really have the wrong idea that using bitcoins is anonymous and nobody has a clue what you're doing.There are hundred of examples in the past that show us you're not even close to be as safe as you think and many are serving time right now for thinking like that.

Coins can be tracked.


Nope bitcoin was never designed to be totally anonymous, more like semi anonymous.
Furthermore all your transactions are stored pout in the open, so the government has an easy task on tracking them the only problem is with linking the person to an address, but KYC and exchnges are making thinks easier in this case.
You think Japan is not keeping a track of transactions in fiat Really?

Also, don't forget, when you buy something it's not just you buying, it's a guy selling stuff , there is stuff sent to your house.
It makes no sense buying a pizza with monero and choosing home delivery  .
Or trying to buy a car anonymously and then going to the DMV for plates.

It is good because this will stop people getting addicted to such investment but it is bad also because it is affecting the popularity of bitcoin. This affects the value of bitcoin also.

This is never ending story. When will you figure out that any government in the world can't control Bitcoin network?
Don't mix control and regulation in legal sense of term, these are two different options.
Bitcoin will stay decentralized and without any control of some central body, like some central bank and what governments will do or want to do is to set legal framework for Bitcoin and other cryptocurrencies.

Bitcoin was designed in such a way that transactions would be totally anonymous and no one would be able to track it or who is the payer or who is the receiver, this is where governments are not able to keep a track of the transactions and they are just trying to ban bitcoins I note only the countries who like to keep a track of the transactions of their citizens are the ones trying to ban bitcoins.

the government can not control bitcoin, we won't let them and that is all that matters in my opinion. we should continue keeping bitcoin decentralized and permission-less.

what the government tries to do is usually to control exchanges which are in fact like a gateway between money (fiat) and cryptocurrencies and this gateway can be abused by criminals to do things like laundering their money.

The point is that by now many Governments, especially in the West, don't control their own money any more, since it is now a private business of banks. So it's surreal that they then try to mess up with the crypto-market.