Topic: Why Cryptocurrency threatens governments - page 15. (Read 19872 times)
Everything that you said is true. Agree much and in addition to that, they are too envious and angry that they cannot dip their hands on it for corruption. They dont have the chance of benefitting from it. I look at it as funny, government always play superior over everything but they cannot rule over cryptocurrency totally.
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?
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's purpose is for everything to be decentralized. With crypto people can transact faster, with convenience and ease. Government controls everything, they have control over the bank, and banks control money. They have no power over crypto, all they can do it ban it.
maybe because the influence of the technology owned by bitcoin that makes many transactions can be recorded neatly and all transactions can be seen by all people so that it will make bitcoin a threat in the government.
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?
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?
It is not that the government is threaten by cryptocurrency. It just happen that cryptocurrency is uncontrollable by any authoritarian bodies which they cannot guarantee the safety of their people. They can't afford to take the risk of a volatile currency for the safety of the funds of their people.
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.
Its reasonable to restrict deception and criminality but not the idea of risk and reward because that is the nature of capitalism, it has to involve losses to some as alot of ideas are tested and found incomplete or incorrect. It requires open competition and the ideas are not regulated by a central authority or we would never have allowed the idea of crypto to begin with because who would guess it would be this successful a decade ago. Only very few saw that potential, you have to allow these people to take that initiative and suffer or gain from that venture.
Society loses overall if we presume only the largest business is safe to allow, government can be a burden on the very smallest enterprise so its a delicate balance imo
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.obscurity and instability of crypto values have made the government not dare to take further risks. with regulations and too many types of ico and other crypto investments that are global in nature and cannot be monitored by local government.
on the other hand crypto is able to inspire people to change and move away from fiat slowly, and if this continues to be left it will weaken fiat even with rules that are not proactive towards real developments.
Cryptocurrency is a threat to government because fiats are centralized, and cryptocurrency offers decentralization which will eventually make government lost control over money.
The decentralization of cryptocurrency is one of the main problems that governments in cryptocurrency do not like. Such for the government is of great importance that the cryptocurrency does not have its official creator from among the states, is generally not supported by anything, is not supported by anyone, has a very large volatility. In addition, the cryptocurrency allows you to transfer cash flows to anywhere in the world without any control from the states. 
Cryptocurrency is a threat to government because fiats are centralized, and cryptocurrency offers decentralization which will eventually make government lost control over money.
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?
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?
The freedom that blockchain offers to the world can be misused. That is why the government is trying to impose regulations and limitations in its usage. There are also risks for the people, scams and money laundering can easily be done because of cryptocurrencies and the law enforcement entities are having a hard time tracking these scammers.
With so many benefits that it can offer to the people in the regarding finance, blockchain has become the number one enemy of the banking industry. This also add up to the reasons why the adoption of blockchain is close to stagnancy in some jurisdictions.
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.
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.
Cryptocurrency can not threaten the governments of different states. States can easily cope with any threat posed by cryptocurrency. It seems only at first glance that the cryptocurrency is completely independent and can ignore the interests of the government and the state. We still live in a society and must obey its rules, which are established on its behalf by the government. Therefore, cryptocurrency is better not to conflict with governments, otherwise the confrontation will not benefit cryptocurrency.
YOU Know that in many countries , government make effort to ban or limit the cryptocurrency, I Have ever wondered. Now, I can myself answer the question, That crypto can threatens to the power of government , they will out of control the whole economy. Furthermore, government rely on central banks to get profit from loans , but with crypto they can lose their profit
when most of the cryptocurrencies are accepted in shops instead of fiat currencies then it will definitely effort the economy in large hopefully this mass adoption will start by next year
I don't think it will happen in the next year, people still lack knowledge about the Cryptocurrency so hard to make things like that happen. The Government also is still afraid against Crypto, they think Crypto can not be control by them, something they would expect.
when most of the cryptocurrencies are accepted in shops instead of fiat currencies then it will definitely effort the economy in large hopefully this mass adoption will start by next year
Different countries have different point of view about cryptocurrencies and the blockchain. For them, cryptocurrencies' disadvantages outweigh the advantages cryptos have. That's the main reason why they forbid cryptos in fears of economic destabilization.
On individual basis, the advantages of a cryptocurrency and the blockchain are more than numerous for the users but of course the government has to collect revenue from the people in the form of taxes that are charged at times of making transactions and many economic activities, the usage of the cryptocurrency forbids the government to charge the fee and this is the sole reason why it has the power to minimize the revenue of the governments. 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 think the government's readiness factor is the reason why the government cannot take policy and tends to make bitcoin or crypto currency illegal by the public, but I think that if the government is ready to make regulations about crypto currencies it will be very beneficial for the country because it can bring income from crypto currency business operatorsWhat 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?
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 think the government's readiness factor is the reason why the government cannot take policy and tends to make bitcoin or crypto currency illegal by the public, but I think that if the government is ready to make regulations about crypto currencies it will be very beneficial for the country because it can bring income from crypto currency business operatorsWhat 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?
The cryptocurrency is an anarchic coin, and the government loses control over money and cannot stop the government from enriching the government by exploiting people.
For USA I think cryptocurrency is the most dangerous currency because in this day US dollar holds the market almost all over the world and when crypto take over the market, dollar domination will come to an end. Then the whole world will use only one currency and for big currencies it is not acceptable. I think that crypto is better individually but not officially. It could be argued everything is a possible threat to government because not everyone votes or supports what a government of a country stands for. The base line is the government power only comes from support of the people. If a standard or utility is derived from this technology that benefits the people then its fair to assume that support and benefit will be passed on for support of the government which allows and encourages that technology.
I really have to disagree then for most advanced progressive countries they look towards technology as something which creates wealth for their citizens and enables a work saving economy beneficial to all. The majority of governments do not see crypto as a threat even in USA where I expected opposition as they required the financing of dollars to service debt, most in politics seem to realise crypto is very popular with the people and not a threat overall. The bad press mostly comes from just general apprehension of change I believe
In my view there are some factors that governments do not want cryptocurrency to be prevailing in the world. One is this that crypto is not good for economy, second it is not centralized, third is this that it is not guaranteed and finally they fear that cryptocurrency is widely used for illegal activities. This is most dangerous thing for governments. I really have to disagree then for most advanced progressive countries they look towards technology as something which creates wealth for their citizens and enables a work saving economy beneficial to all. The majority of governments do not see crypto as a threat even in USA where I expected opposition as they required the financing of dollars to service debt, most in politics seem to realise crypto is very popular with the people and not a threat overall. The bad press mostly comes from just general apprehension of change I believe
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