Why Cryptocurrency threatens governments - page 16.

dowellness

newbie

Activity: 56

Merit: 0

Quote from: The_Tick on October 12, 2018, 10:18:27 AM

Cryptocurrency scares governments because it implies that citizens do not need to rely on governments to function in society, and it's easier to find loopholes in the taxing system.

But, if you can't beat 'em, join 'em. They'll likely be issuing their own cryptocurrencies.

Since its decentralized and there price can not be controllable.Also not paying tax also the big issues for government. While sending or receiving money you won't pay any tax.

Werelyte

newbie

Activity: 4

Merit: 0

Well there are few exeptions, for example in Malta the goverment makes special conditions for crypto businesses to rise and promote blockchain solutions.

gonzadz77

newbie

Activity: 82

Merit: 0

Quote from: The_Tick on October 12, 2018, 10:18:27 AM

Cryptocurrency scares governments because it implies that citizens do not need to rely on governments to function in society, and it's easier to find loopholes in the taxing system.

But, if you can't beat 'em, join 'em. They'll likely be issuing their own cryptocurrencies.

Bitcoin can destroy government and there policy that's why they're afraid from bitcoins. Governments are well aware that they can not do anything with bitcoin because bitcoins is more than there thought.

nightfury

full member

Activity: 392

Merit: 100

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.

Penthesilea

newbie

Activity: 10

Merit: 0

The government is concerned about issues related to cryptocurrency. When the market is shifted by the price and the predictions of the investors. The government is worried about the outbreak if the bad guys use Cryptocurrency to carry out illegal activities.

almartins

jr. member

Activity: 47

Merit: 2

Quote from: tegacoll86 on October 15, 2018, 03:00:47 AM

Quote from: The_Tick on October 12, 2018, 10:18:27 AM

Cryptocurrency scares governments because it implies that citizens do not need to rely on governments to function in society, and it's easier to find loopholes in the taxing system.

But, if you can't beat 'em, join 'em. They'll likely be issuing their own cryptocurrencies.

Bitcoin is to much dangerous for economy. It can increase the rate of crimes and illegal activities. Criminals can do all transaction anonymous which mean no one will be able to caught him.

That isn't true, Bitcoin is traceable but there are other coins want be anonymous.
What is real dangerous to economy is parallel economy like drug and weapons trade and off-shores to hide the money and biggest one is the capability of governments to producing more money.

tegacoll86

newbie

Activity: 77

Merit: 0

Quote from: The_Tick on October 12, 2018, 10:18:27 AM

Cryptocurrency scares governments because it implies that citizens do not need to rely on governments to function in society, and it's easier to find loopholes in the taxing system.

But, if you can't beat 'em, join 'em. They'll likely be issuing their own cryptocurrencies.

Bitcoin is to much dangerous for economy. It can increase the rate of crimes and illegal activities. Criminals can do all transaction anonymous which mean no one will be able to caught him.

twa

full member

Activity: 320

Merit: 100

BitSong is a decentralized music streaming platfor

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?

maybe the government has its own reasons. I am sure that in the future the government and crypto currencies will cooperate well and give mutual benefits and positive developments in the future. I think all of them must have a good goal.

gamalzour

full member

Activity: 566

Merit: 102

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?

The government no longer threatens cryptocurrency like they did back then when it was released newly. They really kicked against cryptocurrency when it was new, but after sometime some countries started to embrace it and more people started to support the use of cryptocurrency. Lots of projects and companies that are based on cryptocurrency are being released like everyday.

yusupjatigumilar

full member

Activity: 644

Merit: 100

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 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 operators

The_Tick

jr. member

Activity: 70

Merit: 3

Cryptocurrency scares governments because it implies that citizens do not need to rely on governments to function in society, and it's easier to find loopholes in the taxing system.

But, if you can't beat 'em, join 'em. They'll likely be issuing their own cryptocurrencies.

Firefox07

full member

Activity: 532

Merit: 100

Every government has different approach when it comes to cryptocurrency. Some ban it and some want to legalize it. But i think some governments what to control cryptos. So they can do what ever they wanna do in cryptocurrency.

Iwillgotothemoon

member

Activity: 171

Merit: 14

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.

STT

legendary

Activity: 4060

Merit: 1448

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

thuat86

newbie

Activity: 64

Merit: 0

I don't think that cryptocurrency are harmful to any government. Let see internet. It connects people worldwide, helps them communicate and exchange information without any border. Governments are safe and still keep their roles in decades of information technology. Now cryptocurrency enables border-less exchanging value on the internet, but for for every thing. Many kinds of assets, commodities have local characteristics those are almostly impossible to exchange worldwide, for example, land, real estate, food, etc. Once again, goverments cannot collapse by crypto-attack but they must change to govern and manage the new kind of value-record by blockchain technology.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

I only think that the government is not ready to accept the existing of cryptocurrency. But I don't think that the government banning or forbid or limiting it's used because I see that many governments give a statement that bitcoin is legal in their country. Perhaps, they need more time to realize and fully accept cryptocurrency after they make a research about cryptocurrency. I think they will want to know more details about the cryptocurrency because they will realize that cryptocurrency gives a new solution for their citizen and of course, their problem economic.

bangkit tri

full member

Activity: 532

Merit: 101

Quote from: princeyeboah on October 11, 2018, 09:23:52 PM

Crypto threatens the governments because crypto is decentralized which eliminates the power of any third party including the governments in its transactions. The power is giving back to the people and this scares the governments.

of course this makes the government lose its role, because of decentralization. therefore government must find right policy so as not to disturb existing system, so that it is not economically harmful

ChristinaPi

newbie

Activity: 31

Merit: 0

Actually, we have to say that cryptocurrency threaten to banks but banks was supported by the government, as a result, cryptocurrency threaten to the govenrment. Nowadays, people tend to use cryptocurrency transaction rather than banks transaction because of crypto transaction is much cheaper and more convenient

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: esetop01tryba on October 08, 2018, 08:23:39 AM

Cryptocurrency takes a small percentage of the world economy so I do not think that it threatens the government of the world at least in the near future !

For now the effect will not be too large because the total of users is still small, but the spread of bitcoin continues to occur if the user covers almost all people on earth then the percentage of influence on the economy would be very large, thats why the government tries to stop it

princeyeboah

member

Activity: 714

Merit: 14

Crypto threatens the governments because crypto is decentralized which eliminates the power of any third party including the governments in its transactions. The power is giving back to the people and this scares the governments.

Topic: Why Cryptocurrency threatens governments - page 16. (Read 19872 times)