Governments want to be able to control the flow of money. Thats how they rule and regulate. They want centalised control systems. Thats why they hate decentraized crypto assets.
this is be their way to attrack taxes from us.and also they want to fully control in exchange and market.but it is hard to di if they didnt legalized cryptomarket yet. 
Topic: Why Cryptocurrency threatens governments - page 22. (Read 19893 times)
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?
Governments are threaten by the rising of cryptocurrency. They always against in its regulation or legalizing in some places. Governments banned bitcoin because they see it as a new big enemy of theirs. They want to control everything that is why they aren't in favor of cryptocurrencty because they can't control it. They can't accept the fact that most people prefer bitcoin or crypto over banks.
Just many politicians understand-if the cryptocurrency is adopted and the use of blockchain technology starts to work then it will be very difficult to hide something from people.This is the main reason.And there are a lot of secondary reasons.
The problem is, what is that reason?Politicians itself understand what is going on in bitcoin but when it comes the government they refuse and did not adopt cryptocurrency (strict countries) because of they think that this digital money probably happens that a big competitor in the bank and the government afraid on this.
is between fiat vs bitcoin, even the finance minister in my own country talking that bitcoin might threaten the existence of fiat..
Yes, i agree with that. i also think that cryptocurrency can threatens government because cryptocurrency is decentralised, no one can control it. it will be a big threaten to political economy worldwide
Bitcoin is basically not risky because the usage scheme is still small. But according to the Bank of England, it can change if Bitcoin grows significantly. The Bank continues to monitor digital currencies and the risks posed. If several people make transactions exclusively using digital currency, the Bank's ability to influence the needs of this group can be disrupted.
Well, in my opinion. the reason why the Government banned the cryptocurrency it's because of the security. They don't have control over it and the scammers and illegal transactions are free to do whatever they want in crypto. it is a big threat for the Government.
Governments want to be able to control the flow of money. Thats how they rule and regulate. They want centalised control systems. Thats why they hate decentraized crypto assets.
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?
All the arguments that you give above are the reasons of why governments do not want to accept cryptocurrencies, satoshi created something that benefited the individual and not society at large, it is obvious that if an individual benefits from something the society also benefits from it, but the focus of satoshi was on the individual and cryptocurrencies take away a lot of power out of the government and banks and if there is something that they cannot tolerate is to lose their power, and that is why they are against it. 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 don't honestly believe that cryptocurrency really threatens the government. The government in my opinion oppose crypto due to the scams that are associated with it.
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 crypto currency cannot be controlled by anyone, so many governments do not accept the crypto currency in this world. Although there are still those who accept it to facilitate their country.
Just many politicians understand-if the cryptocurrency is adopted and the use of blockchain technology starts to work then it will be very difficult to hide something from people.This is the main reason.And there are a lot of secondary reasons.
The problem is, what is that reason?Politicians itself understand what is going on in bitcoin but when it comes the government they refuse and did not adopt cryptocurrency (strict countries) because of they think that this digital money probably happens that a big competitor in the bank and the government afraid on this.
Just many politicians understand-if the cryptocurrency is adopted and the use of blockchain technology starts to work then it will be very difficult to hide something from people.This is the main reason.And there are a lot of secondary reasons.
I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!
Controlling the market is the issue here, cryptocurrency is not threaten any government its just so happen that some government sees this technology as threat to their personal interest and also with their business. We must not be intimidated by the movements of every government just keep on buying good coins and later on cryptomarket will be accepted anywhere.I don't get it, threat to their personal business?
It still boils down to control. Let's look at those countries who banned or at least hostile to crypto. Take for example China, initially we enjoyed their support on crypto and we could say that they are one of the first country who help bitcoin take off. However, when things went out of control, they need to step-up and curb the risk that it may disrupt the countries financial stability. And the reason that crypto is a tool for criminals activities like money laundering or illegal fundraisings blah blah is non-sense, they just used it as a cover up as reasons to legitimized their crackdown.
The legal status of bitcoin is still undefined or changing in many of countries, some countries have explicitly allowed meanwhile the other country have banned or restricted it. I think if the crypto currency enters the economy of a country, the government will not be able to control for now (for a few countries) and people (goverment) are afraid of the unknown. Also, there have been many actions against Bitcoiners in some country, where Bitcoin is already seen as a threat to traditional value system and that's why cryptocurrency threatens governments.
I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!
Controlling the market is the issue here, cryptocurrency is not threaten any government its just so happen that some government sees this technology as threat to their personal interest and also with their business. We must not be intimidated by the movements of every government just keep on buying good coins and later on cryptomarket will be accepted anywhere.
Yes. crypto is threatening the power and dominance of the government. If crypto is widely accepted it will cause a series of banks to go bankrupt and disappear. Most of the banks are government. If the bank disappears the government loses its rights.
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?
I think the government know that the bitcoin is very powerful. The bitcoin can control the government that's why some country did not allow the bitcoin to use in their country because of that threat. I think it is the main reason why some of the government did not support or allow the bitcoin in their country.
If the crypto currency entered the transaction of the country and if peoples like this they will support it. Then if the crypto currency got grow, the government will worry because they cannot controll this beacuse this is not on their business. Illegal or not they don't have the rights to enter this transaction but they can remove this on their country.
I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!
the fear of the government is to lose control of the vital sector and this they will continue to defend by making opinions, appeals and bans on crypto. Crypto they consider will change the system they have arranged neatly into another wild form. but other slow people will understand and realize the importance of crypto for them, how strong the government will hold it will eventually be destroyed in time
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