Topic: Why Cryptocurrency threatens governments - page 13. (Read 19893 times)
Governments are not yet ready to start cooperating with cryptocurrency quite seriously, because cruptocurrrency technologies need to be fully studied and it may take years or even more, so I think that governments are now testing all possibilities of cryptocurrencies and when they completely will solve all the problems that they may face then they will make a decision, because the most important problem for governments is anonymity, they fear it the most.
There is no relevance with threat of cryptocurrency to the governments because the system is establish for the good. But, people nowadays are taking advantage on cryptocurrency which results to negative impact of the system. Some has been abusing its existence and that is why many are now don't like the system. However, the government can change the way people will look at the system especially if it will be regulated like stock market exchange now that has gone and accepted by all countries.
The anonymity of cryptocurrencies makes it impossible for the government to track the whereabouts of funds. When people use Bitcoin in large numbers, the government will lose high taxes. But this is not immutable. In the future, the government will work with cryptocurrencies because cryptocurrencies cannot be blocked.
Over the years cryptocurrency has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.
What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Well the crypto system of payments takes the control of money from government that is centralized to the people which is decentralized economy, simply supply and demand and as crypto are rare in supply then it means that their price will keep on increasing in the future and also the fiat currencies are going down in value yearly due to inflation whereas in Crypto or lets say bitcoin the value increases each year as the amount of bitcoins minted every 4 years decreases to half so this makes the price go up. What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Cryptocurrency like bitcoin can easily be transferred or passed on to anybody anonymously and given this idea and in connection, it could be that any amount of money can be sent anywhere and be replaced anywhere through exchanges. This makes money more mobile and if it happens that your bitcoin gets hacked any amount transferred can be considered a loss to the economy and therefore could create economic problems especially if transfer is allowed easily, that is why any! government is really trying to limit or even ban it.
First of all, the problem is that crypto currencies is difficult to control. Therefore, governments now, in my opinion, are delaying the rapid growth in the popularity of crypto currencies. They want to prepare the necessary base for their control. The question of taxation also remains open. Once these problems are solved by them, the cryptocurrency will be accepted. In my opinion.
Governments do not like cryptocurrencies because it is not controlled by the Central bank.
Bitcoin is not really dangerous threat and it's actually not a threat for their economy. Government want everything under their control, government can't control bitcoin due to the decentralization nature of it. Bitcoin can be a good tool to improve their citizens economy because if government legaize bitcoin then there will be many investors who invest in bitcoin and their citizens who become early adopters of bitcoin can be richer than before.
Over the years cryptocurrency has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.
What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Governments are afraid of anything that takes away some of its power, when the Internet began to become popular governments were very afraid of it but now after a few decades governments now love the Internet because it allows to them to spy on each individual all the time, so it is possible that we are going to see a similar change in the next years on the posture of the governments. What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Fiat currency its a currency that a government has a control while crypto can not be manipulate and can not be created out of thin air. If people adopt a crypto currency then the fiat currency price will plummet. Its one of the reason why government impose a stricter rules in cryptocurrency.
Of course in the world of trade, there are many risks and challenges, competition must exist, one thing we can take wisely.
the government actually does not completely prohibit cryptocurrency just remembering the crypto user to be more careful and aware of the range of frauds, if this happens the government is troubled too, I think that is the point of the problem.
the government actually does not completely prohibit cryptocurrency just remembering the crypto user to be more careful and aware of the range of frauds, if this happens the government is troubled too, I think that is the point of the problem.
What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.
Cryptocurrencies aren't threatening the govt, they're threatening the banking system as a whole. Nowadays, people are opening their eyes and have started to take their money out of system to put it in a decentralized system like Bitcoin where they can be their own bank. Obviously, this means that the govt will start to lose control over people's money, that's why they're doing everything they can to force people to stay within the boundaries of the financial system.what do you think will make governmental bodies to finally accept crypto?
Adoption. I think once cryptocurrencies like Bitcoin go full mainstream and people start accepting them as payment worldwide, the govt around the world will have no choice but to embrace cryptocurrencies as the general public will be using it for pretty much anything.Touché. To governments, loss of control over people's money means a great deal. The world only need about 10% of the world population to get into crypto to trigger a governmental crisis. That is why they are trying all means to regulate crypto.
I think that crypto have never threaten any government and it is the free source to every one so they use it for their use and government have no intervention with this I can use it for my personal benefit and personal use so it is important to me but if a government allow this to use legally for trade and other payments that would be the soft policy of the governments and it is good for the government too because many currencies would be trade over the internet.
For me government is the one that threaten the cryptocurrency because they want to have power to control it which is the crypto blockchain technology has decentralized system. But even the government threatened crypto, there have a good intention why they want to enter the crypto world and control it because they know crypto can used as a tool as payment for illegal transactions but since crypto is decentralized so no one can control it.
The cryptocurrency technology might treatened the government ,in terms of taxs collections , because cryptocurrency is circulating decentranlized without being supervised by the national government , its transactions are in through the internet , and the government can not monitor the cryptoactivities and can not demand taxes from crypto to the government, so this treatens the government
I think that crypto have never threaten any government and it is the free source to every one so they use it for their use and government have no intervention with this I can use it for my personal benefit and personal use so it is important to me but if a government allow this to use legally for trade and other payments that would be the soft policy of the governments and it is good for the government too because many currencies would be trade over the internet.
For me government is the one that threaten the cryptocurrency because they want to have power to control it which is the crypto blockchain technology has decentralized system. But even the government threatened crypto, there have a good intention why they want to enter the crypto world and control it because they know crypto can used as a tool as payment for illegal transactions but since crypto is decentralized so no one can control it. 
I think that crypto have never threaten any government and it is the free source to every one so they use it for their use and government have no intervention with this I can use it for my personal benefit and personal use so it is important to me but if a government allow this to use legally for trade and other payments that would be the soft policy of the governments and it is good for the government too because many currencies would be trade over the internet.
The point is government will never want us to get that financial freedom which cryptocurrency offer us today and at that for government to maintain that level of relevance it has to hold on on that freedom and you know when you control the finance you have the economy so the government may never support cryptocurrency because of against it policy.
I hope that once the crippling currency will destroy the present system of finance, and the calculation will be much more convenient. I think the world has to accept criminals and then it will be better.
Basically it's just because crypto cannot be fully under their control. Government as the highest matter in a country, wherever it is, want to know what how, when, where their people moving and working. Banks and such kind of companies are legal and accepted because government can watch them, can trace their activity, can control their policy and work together to get many advantages like taxes, while crypto is not as easy to be told, be order, or be control by government because its system. That's why crypto being opposed or threaten by government.
The government will lose revenue because bitcoin is not taxed, the government will lose control because bitcoin is anonymous so do not know who the owner is, besides financial institutions like banks will be eroded for a The number of customers switching to bitcoin.
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