Why Cryptocurrency threatens governments - page 14.

zhelis74

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Quote from: ganlianshifu1 on November 14, 2018, 06:23:30 AM

The cryptocurrency economy is small and the liquidity is small!
Due to the occultity of cryptocurrencies, the government is worried that illegal elements use cryptocurrencies for money laundering activities, thus effectively supervising cryptocurrencies. The cryptocurrency has almost no threat to the government!

I think crypto is not exactly threaten governments as I believe that the only reason of why they are hesitant on crypto currency is because they cannot take any control of it and specially to the income earn of each individual that have no tax, crypto can make people rich but not the government so maybe they afraid that time comes it will lead to inflation.

pinkpanther03

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Quote from: celestinamoore on September 17, 2018, 06:47:36 AM

Quote from: hugeblack on September 17, 2018, 06:09:43 AM

The government is trying to make everything under its control, the banks control all the money, and the government controls that banks.
Blocking or restricting is a feature of anything new, new things need time to accept.
The Internet has been a tool for freedom before, but now there are a lot of restrictions on its use, and this will happen to cryptocurrencies.
I do not know why people tend to be controlled? But this is a present trait.

And for how long will they control absolutely everything. We are suppose to be living in democracy era but what do we get, restrictions from freedom

I know how you feel dude, I do agreed we really suppose to be living in democracy and yet it is not happen in reality in some other country. But here in my country we are living in democracy, where we have freedom of speech. Now in connection of cryptocurrency, our government is not that strict on this aspects in fact, we have 3 exchanges here that are existing for a years who are bitcoin accepted together with the altcoins too such as BCH, XRP, ETH and BTC.

ganlianshifu1

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The cryptocurrency economy is small and the liquidity is small!
Due to the occultity of cryptocurrencies, the government is worried that illegal elements use cryptocurrencies for money laundering activities, thus effectively supervising cryptocurrencies. The cryptocurrency has almost no threat to the government!

miltonpogi

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What kind of government exactly? Don't generalized government because every country has a different one. For example Japan. They are using cryptocurrency but it is not a threat but actually a way for their country to grow. There might be some who ban it but not because it's a threat, but because it causes some frauds and scams.

yitzjoe

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I am sure they are blocking crypto because of political affairs and threatening the system they have built up to now, and financial policies such as monetary policy and inflation are products that they can create and for regulation as drugs, central banks and politicians continue to urge crypto to harm all and other negative sentiments. this will not make us retreat because the purpose of bitcoin and altcoin is to provide benefits for everyone

gheawari431

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Quote from: clololck on November 10, 2018, 03:55:39 AM

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

Bitcoin was created with the aim of making digital transactions between regions or countries very efficient, safe, cheap and fast. If this is implemented perfectly, the government will lose revenue because bitcoin is not taxed, the government will lose control because bitcoin is anonymous so it is not known who the owner is, besides financial institutions like banks will be eroded because some customers switch to using bitcoin.

Osarman

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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?

Not everyone can understand the reason behind government being afraid of cryptocurrency. It’s even difficult for me to explain, except for those who knows a bit about government and conventional currencies. But I believe that one of the main reasons why the government is afraid of cryptocurrency is because it has no primary control. It is unlike the fiat currency which is controlled by government and has value just because the government says so.

Quidat

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Quote from: jrrsparkles on October 24, 2018, 04:23:04 AM

Quote from: margaret22 on October 24, 2018, 04:07:12 AM

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

No,they are not protecting us from restricting crypto currencies from their usage they just want to restrict the new technology which can give us freedom to use money as we want and will reduce the revenue to the governments that is why they were trying to ban cryptos.But some countries banned ICOs not the crypto currencies which maybe in the cause of they want to save their citizen from falling into scam.

To those who believe that bitcoin is still a scam, screw them they just a bunch of newbies who doesn't want to learn a new thing because all they want is just what is given. Government somehow are helping to improve what's new in technology and they cannot ignore this new technology because it is rampant all over the place. That's why they were making new rules and regulations to somehow control they money that is being traded with any cryptocurrencies.

toast

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in my opinion cryptocurrency does not threaten anyone especially the government and in my opinion cryptocurrency is created to meet the needs of an economic system that uses technological advancements and developments in the era of the good cryptocurrency depending on the intention and purpose of the investors themselves

pragna

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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.

I think there is no political power or scared in BTC banning. On the other hand traditional banking is no problem as when maximum flow of BTC will allow by mass people government will agree to broke traditional banking. I think government thinking as they could not trace transaction of BTC so BTC may misuse in buying Guns or any other corrupted things. This may be threatens govt.

zhelis74

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Quote from: zhelis74 on November 10, 2018, 05:01:14 AM

Quote from: clololck on November 10, 2018, 03:55:39 AM

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

I think being decentralized system is the reason why crypto currency was not yet fully supported by every government because the fact that the income from every individual was not being taxed for they can not take control on it amd if more poeple working on crypyo then that is the time that it will threatens country's income taxation.

zhelis74

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Quote from: clololck on November 10, 2018, 03:55:39 AM

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

Schmidt Abrams

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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?

Cryprocurrency can threaten to government because cryptocurrency will soon replace fiat. No fiat, the government can not run a country and control the economic system. I'm sure that the government don't want this happen. that is the reason why the government always try to ban cryptocurrency all over the world.

clololck

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This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

Bunsomjelican

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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?

I just don't know if the topic question is right or not there must be other right term for it maybe.. Because, if some government are afraid of cryptocurrency or it threatens them for real, why some other country made a decision to regulate it to their own territory if it is really a threat? like for example JAPAN digital currency/virtual has been already adapted in this country. This is showed that there is no threat in crypto currency, it is only in the mind of the official in the government, am I right for this thought?

jaja colleen

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Cryptocurrency is decentralize and the government cannot control with it that's why it is a big threat to them,because they see that many people now are abusing using Blockchain technology so the government want to protect their people to avoid scam and money laundering.

iged_war

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Quote from: margaret22 on October 24, 2018, 04:07:12 AM

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

actually this is main purpose government.they need to protect their citizen from suffering fake investment portofolio.since many ponzi scheme harmed investor, they need to do this.

Finn Bery

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Quote from: hugeblack on September 17, 2018, 06:09:43 AM

The government is trying to make everything under its control, the banks control all the money, and the government controls that banks.
Blocking or restricting is a feature of anything new, new things need time to accept.
The Internet has been a tool for freedom before, but now there are a lot of restrictions on its use, and this will happen to cryptocurrencies.
I do not know why people tend to be controlled? But this is a present trait.

I totally agree with you. Since cryptocurrency are decentralized, people tend to use it for transaction rather than bank. It will directly affect to bank and government.

Leoeco

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We need to control the use of cryptography in crime, But I think Government shouldn't fundamentally hinder decentralization.

mornabo

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Quote from: margaret22 on October 24, 2018, 04:07:12 AM

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

Nope, the government just hasn't found a way to control crypto users, thats why the government is against crypto. if the government
finds a way to profit from crypto, such as taxes. it is certain that the government will legalize it and make regulations for crypto

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