Topic: Why are the world’s governments not using cryptocurrencies? - page 7. (Read 1447 times)

This is a very simple answer Every country's government receives money that they can capture and control. Since cryptocurrency money is not in their hands so they cannot believe it and are unwilling to accept it truthfully.

Governments of the world are interested in having full control over its monetary policies. With Bitcoin being decentralized, adopting it will certainly take control out of their hands hence, the reason it will be difficult for these Government to adopt full usage of bitcoin or other cryptocurencies within its territory

They cannot control crypto, that's why.

Blockchain is already been noticed by more government and business institutions. Sooner or later the adoptions will be more wider and because of that
cryptocurrencies will also find its way to gathered more support, it will serve as another form of digital money same with other payment process which already been around for some time. We just need to wait and keep using this industry to create more attentions.

but the question is are all govt's the same  ? on some country including ours , the govt's here are doing thier best to make the crypto noticeable  . they do not hate crypto but they wanted crypto to  be used more than the fiats but sadly not all govt's think like this but others are selfish and only think for them selve's  . they dont listen to the people but they only think that crypto will not be really beneficial if allowed on that country  . that suck to live on a country with a govt like that  .

It's because governments want centralized system which cryptocurrencies do not have. They can not control and manipulate cryptocurrencies. Yes, there are tons of advantages of it that government can be use in the future. And some governments is reconsidering cryptocurrencies as their alternative currency but we can't deny the fact that not all people will gonna accept new technology like this.

However, there are also government officials who are open for cryptocurrencies. I am very optimistic that time will come that governments will allow cryptocurrencies to prove their potential uses

That is not the reason, there is no way that people will stop using fiat for good and I don't see any effect of crypto to fiat if it will be implemented to be use by any other people. Crypto can be use as an alternative option to make transactions. But there are things that the government need to considerate before they allow the wide usage of it. The reason is still unknown, since they are still in the middle of studying how they can take advantage of it.

It is fully develop and ready to help us in our society. But the problem is its volatility and unstableness. The bitcoin itself is fixed and the things that should be tested are the program that regulates it.

Government doesn't want to regulate bitcoin in their country because it is hassle to keep. I think although it is a currency, it's still digital and can be hacked or scammed by other people.
We can't blame the government of not using cryptocurrency because they just want to use efficient, real and less hassle in economy.

It's a simple case that most of the governmental bodies are not up to date to the current technological advancement, they are really afraid of every new invention, they don't like a new thing which could change the system, Basically, they are not ignorant but they pretend to be ignorant, They only want to control over everything, that's why they are not using Cryptocurrency because they know cryptocurrency is not controllable, there is another reason for the conventional banking system, Most of the owners of the Banks are related to this government so they always push aside to the government. this is the real scenario of this system.

Someone is working below the table and I'm sure every government have their own secret agency to study and analyze cryptocurrency, they don't want a big threat on their financial system. If the government allows its people to use cyrptocurrency, then fiat money will be weaken and maybe people wont use fiat money anymore so this is a big risk for every government.

The various government laws ranges from restricting any exercises involving cryptocurrencies. Some bar their citizens from taking part in any sort of exercises cryptocurrencies locally, yet enable citizens to do as such outside their outskirts. While some rely upon whether the token offered is viewed as a security or a unit in an aggregate investment, an evaluation put forth on a defense by-case basis.

These shows the various reasons, both known and obscure to either support government guidelines or their feelings of dread not to  affect financial institutions productivity and conversely keeping up their economy wellbeing.
Every country is autonomous and their laws should be respected. Though we still have countries who have discovered how to maximize the benefits of cryptocurrencies.

Yes. Even if we think how useful crypto to all of us but once the government does not allow crypto to be legalized because its a decentralized currency and they can never control it, so they will never support it for mass adoption. Although we have learned that some governments are already supporting crypto, then it will surely take time to make all governments allow crypto to be a global currency.

Currencies like USD/euro/yuan are inflationary and fake. If you look closely, governments/elites have been pouring outrageous amounts out of nowhere, on top of creating debt/collecting taxes. Private money in the hands of foreign/free individuals is USELESS to them. Therefore if they can't take all of it then they need to inflate it out of your pockets or pay you with fake duplicate value stored in national banks that would absolutely collapse in case of a bank run.

You could legimitately say that in our civilization, "real" money is not implemented and the whole system is rigged. The goal is to get you to work, not to reward you. As a human, that's all you ever want from other people: you want them to work for you and pay them as little as possible, in actual value. Try becoming a billionaire and you will see, how many obstacles will be on your path, and how much value they will steal from you, if you play honestly. And it's not just about evil governments, the human species is just helpless and dishonest as a whole. They will always exhibit tribal behavior and try to eat a piece of you somehow. You can't reliably store value using fiat currencies.

Crypto prevents manipulation. Limited supply, everyone plays equally and everyone has the same legitimacy. Value is either stable or increases over time. Free individuals can take over the world without asking for anyone's opinion.

If you look at the history of this civilization, this is the biggest, the most mathematical "Fuck you" ever sent to governments ever. And there's little they can do about it besides try to tax crypto, protect their fiat prison, or prove P = NP. That's why they're not using it.

This is why fiat money will stay and cryptocurrency will still be an alternative. The government always want a control and always want to collect more taxes as much as possible. Cryptocurrency is good, it works well and a lot more faster compare to bank transactions but since the government don’t want a decentralized market it will be hard for us to climb high as easy as possible. In time, blockchain will become a big thing so let’s wait for that moment and hopefully the government will finally support it.

This is to tell you that, the government breeds in secrecy. They don't want any mechanism that would make governance an open affair, especially governments that deprive their people rights of citizenship. They close up any avenue of association for the people.

The legal stable coin option is a great way to unlock more complicated things.

I still think long about how they will adopt bitcoin later, but for altcoin it's actually not too difficult because they only need to apply strict regulations for every coin that only has a CEO, each registration will also be a proof of responsibility for the development of adoption, so the government must ensure legal access first.

A decentralized cryptocurrency is convenient to use for people, but it is absolutely disadvantageous for governments. Cryptocurrency has practically nothing to do with their national money. For governments, cryptocurrency is a no-man's “currency” not secured by anything, behind which there is not a single state that cannot be controlled and which has very high price volatility. Cryptocurrency is not suitable for use in international trade agreements. Therefore, now governments are switching to the use of stable coins, which combine the capabilities of cryptocurrency and conventional currency.

It is not easy to implement also cryptocurrency and bitcoin is not yet completely implemented as a currency in a lot of countries,
A lot of people will surely be going to use fiat money since it is more reliable than cryptocurrency or bitcoin for sure.
A lot of countries is still not ready for this kind of technology and need a lot of time to adjust to implement this kind of technology.

Why aren't governments adopting cryptocurrencies like bitcoin?  For one thing, there isn't enough bitcoin available for multiple governments to own significant amounts--just look at bitcoin's market cap and you'll realize this.  Bitcoin would have to be worth millions per coin in order for that to work.

Second, how could any government justify spending money on crypto when it's probably the most volatile asset out there right now?  And to what purpose would they put that crypto?  The government in my country isn't having any problems whatsoever with the fiat they're pumping out at alarming rates.  It works for them even if it's not going to work for anyone in the long-term.  My guess is that they don't see any advantage to using crypto, and it's too risky to boot.

That's the same reason banks haven't adopted bitcoin.  It's also the reason why most people haven't adopted bitcoin--it's too volatile to use as a currency, and there isn't a fiat crisis such that using crypto would become necessary.  For nearly all businesses and people, fiat works for them and bitcoin isn't a solution to an existing problem.

It is because the most popular is decentralized and the gov't doesn't have full control to it that's why they chose not to touch it until now. Some countries notably adopted it just like Malta and Japan but the rest, they have their own reason which is like that.

How can you say that crypto's are not affected by global finance events? if you have noticed the last bear market, the stocks were also down so do bitcoin and the crypto market was. I don't think that's a coincidence but there's a true connection for both somehow.