Topic: Why are the world’s governments not using cryptocurrencies? - page 8. (Read 1437 times)

I guess the main reason why the government doesn't like having cryptocurrency is because they cannot able to regulate it. Having a decentralized characteristic could be also a factor. Another reason is could be because it is not stable, it is hard to manage a currency that has no stable value. Due to cryptocurrencies anonymity, crime concerns could be another factor. Cryptocurrency is indeed good to use but in some aspect, we cannot remove the fact that has negative impacts as well.

Many governments have serious corruption that is uncontrollable because it is private and they manipulate every transaction here and adopting crypto can stop their malicious intent.

Because the Blockchain is transparent and whatever transaction we have here is recorded. This is why corrupt government officials fear this.

Lols, this shows quite clearly how ignorant some of the crypto zealots are!
Do you think that by using cryptos a country will be safe from financial turmoil? You've just managed to find the holy grails my friend.

Let's say Saudi Arabia is using bitcoin. It exports 9 million barrels a day worth 90 000 BTC.
Suddenly China and the US ban gas cars and the demand for oil plummets by half and Saudi Arabia's exports drop to only 40 000BTC,
How will that shield it from global events?
A series of terrorist attacks happen in Thailand making tourist numbers on which the country depends go down by 90%. How is bitcoin going to help? How would bitcoin help Argentina if the country is spending more than it produces?

You guys really think that cryptos and the blockchain are the solutions for everything!
Reality check, no it's not!
Somalia isn't going to become the world's biggest car manufacturer by adopting Bitcoin, Angola is not going to become the top tourist destination and for certain Moldova is not going to have a higher income per capita than Luxembourg!



Oh tell me, how were they doing this with paper money before the internet?
How have they been able to track this for millennia and they won't be able to do it now when they get a lot of help from the public blockchain?

In Rome, you could tax people while they used coins and everyone was dealing offline (lol) over the counter, spread through an empire where it took the taxman days to reach the most remote villages but no, it can't be done now when the government know how much you make, what car you drive, what house you own where you fly and how many nights you book in a hotel?

Seriously, bitcoiners are so childish sometimes.

The best reason why the world's governments are not using cryptocurrencies is that they are corrupt and Bitcoin or cryptocurrency is not for Currpot people so I think nothing is better than this reason.

In actuality, some are still researching for possible integration of the blockchain technology in their current monetary system like USA for example and also there are countries like China who are on the verge of releasing their own cryptocurrency backed by their central bank. It is not about cryptocurrency though but rather the blockchain technology itself had been a major breakthrough in hastening the transactions which is vital in the economy that would yield to the positive exponential growth.

It is very clear the government does not use cryptocurrency because it cannot be controlled, the price is volatile, transparent, and
widely used for illegal transactions. This makes the government not legalize cryptocurrency even though there are many the benefits
that can be obtained. Then from that impact on the development of crypto which is quite slow, because lack of support from the
government. As of now the number of people using cryptocurrency is still small, but I am optimistic in the future cryptocurrency users
will multiply. If that happens then the government will be forced to support cryptocurrency.

too soon to conclude the world government does not use cryptocurrencies, some state governments have prepared themselves to adopt cryptocurrencies, for example, China

Country governments around the world will definitely use cryptocurrency as an alternative payment method in their countries, just wait until that trend arrives.

Basically it is not the government that will really use it, it is their people that will determine what could be the impact of bitcoin to their country. Government could stop it, but most of the time, they aren't because they trust their people and their people trust them. Just like in my country, Government is not utilizing bitcoin but they allow people to use it. Meaning to say that the point of this topic should center on the people, and not directly to answer the question why do worlds government not using crypto, and the answer to that is because they will definitely not use it because it is more beneficial for people.

The obvious answer is that governments want to control people and consequently they want to control the money that they use.  They can inflate the value away, they can seize it, they can censor it, they can ban people from receiving payments in it, and they can put currency controls on it at the border.  In short, controlling money, means controlling people, and that is just a short incomplete list of things governments don't like.

Inflation is a huge hidden tax on everyone and governments do not want to give that up.  Bitcoin (or other non-centralized crypto, of which there are almost no others) prevents or at least helps to limit, most of those issues.

Let’s face the facts. Just like what others said, most governments want to have control over almost everything. And when there is control, there is power. Power translates to money. And money is almost fuel for anyone to do almost anything. Bitcoin = Money ≠ Control. They won't want that at all.

What we could do is to vote those who are in support of blockchain technology and let them be the deciding factor towards a decision that is good for the people. At least if they are vocal with the use of these kinds of technology, then sooner or later, there would be more applications towards the use of cryptocurrencies.

Currently there is a lot of uncertainty on the part of some governments about bitcoin, many economists who are advisors do not think the cryptoactive is good because they consider it as a high-risk investment, however lately a lot of rumors have been brewing about a possible fall of the economy, negative interests and the US initiative for the creation of the digital dollar using Blockchain.

Some countries like China are preparing their economy for the launch of their cryptocurrency, and take the opportunity to speak ill of Bitcoin, some German banks are very involved in the issue with Bitcoin and Crypto, they are giving freedom to manage Bitcoin, and the radical Russia somehow wants to ban or become anti-bitcoin, this article tells it: Russia Reportedly Considers Ban on Using Crypto as Means of Payment, Cointelegraph what governments are looking for today is to obtain liquidity anyway, I think that is the premise, in the end they will end up accepting Bitcoin technology and market because it offers better guarantees that the traditional economy.

They sure using privacy coins and someone managing their wealth to be hidden since untraceablr and using a stealth addresses which can hide your real transaction on the blockchain which really hard to track.

And we cannot trust government since they are the one who is really has the power to manipulate people and use their wealth.

based on some news some country want to adopt blockchain
but not bitcoin because bitcoin is decentralized and they cant control it

Cryptocurrency is all about decentralization and being your own bank and making transactions without having to relay on any third party, and for governments that is not something that they can afford, because they would have no control over the flow of the money and where or from who the transactions are going and coming from, so there is no point of creating a crypto that is controlled by the government that is centralized, crypto can only accepted by the people because it is controlled by them and used as a peer to peer payment methods, and not as an official payment method made by the government.

It's not because they're ignorant, but rather they choose to stay away from adoption to keep current banking systems that (1) provide them easy tracking of person's details for whatever their reason is (criminal tracking/surveillance), and (2) cryptocurrencies give people the power through financial freedom, which the government doesn't want since illegal activities might increase in number while getting harder to monitor and solve such cases on an anonymous blockchain.

Because they can't benefit from bitcoin unlike from printed fiat currecies. The worl government is all about power and money, they use and believe what they created and what they can manage to have a grip too and it's not cryptocurrencies. They will struggle in trying to have control over crypto networks which what they need to do if they want to use and let the world use cryptocurrency.

Yes, i also believe these are some group of confused people with super power!!!

Crypto is firstly a work in progress. It still has a lot of things to be tested to establish it as a proven technology.
Government on the other hand operates as being a middleman in trade of goods and services. It gets paid to maintain order in chaos.
Crypto if successfully implemented not only decreases the size of government but also threatens the business that flourishes under it's shadow.

This is just simple as governments keeping people under their control. When it comes to fiat it is limited to be under their control, while same can't be achieved when cryptocurrency is used. This is the major reason for governments not using cryptocurrencies even after knowing the true potential and need of the technology driven cryptocurrency.

its simple cuz governments don't want to lose the power of control everything. if they accept cryptocurrencies then they will lose the power of controlling the price of a currency also it can kill there own country currency.. that's why most of the countries afraid to use or adapt the crypto but soon or later they have to accept in assets form or they will set new terms for crypto but they will accept the crypto