Why Cryptocurrency threatens governments - page 23.

Nila soru

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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 my opinion the reason that governments fear that people will put all their money in bitcoin and Altcoin and public and private investment schemes will have no more investment and the development process of the country will be affected. There are many reasons that governments all over the world do not want to promote cryptocurrency.

naily

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I think this is part of the negative news about bitcoin and other crypto currencies, crypto currencies do not threaten the economy of a government, precisely with the existence of bitcoin many investors enter the crypto currency business, and this will certainly have a positive impact on their country's economy

LuciferEveningStar

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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?

Cryptocurrency can really threaten the government since most of the people today prefer cryptocurrency more than placing their money on the banks which decreases the fund of governments since they get money from taxes.

cryptoalfs76

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▰▰▰ MODULE ▰▰

Quote from: celestinamoore on September 17, 2018, 03:39:49 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 worlds Government have there own explanation,why they afraid to accept crypto as a legal basis and part of the world economic development,and one things that i know are the threatens or shaken to them thats this cryptocurrency can be used into some illegal activities and fund for terrorist activities or drugs syndicate,because its only a figures thats never been seen by the government,and one things also they would not benefited the taxes thats come from digital currency income.

Foxgtx

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Quote from: Epimetheus on September 20, 2018, 12:17:55 AM

Quote from: yusupjatigumilar on September 17, 2018, 07:36:51 AM

the government worries that if the crypto currency enters the economy of a country, the government will not be able to control it and can damage the exchange rate of the country's currency, and the transaction cannot be monitored whether it is for good activities or actions that violate the law and harm the country or someone

Cryptoncurrency are decentralised digital currency. Which means their are not under control of any kind of authority or government. And many government doesn't want anything in their country in which they have no control. Cryptocurrency mainly influence an country economy growth by directly affect their country share market. Irregularities in cryptocurrency production and distribution always negatively affects an country economy and cryptocurrency are volatile nature and this thing also affects an country economy. Cryptocurrency untraceable transaction is the main reason behind many criminal activities and for this reason many government ban it in their country. Due to cryptocurrency digital nature it does not pay any tax to the government and this thing also affects an country economy.

I agree with you!
The governments aka central bankers have a money printing machine which effectively keeps us all slaves and your not sure why they don't like crypto?
cryptocurrency is risk and it's a threat to the government because of the decentralized nature it was created for, regulations is only the solution to reduce such risk by the authority.

cahbagus555

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Government always want to control their currency. Like what happen in paper money, government want to control bitcoin supply and data transaction. It will not happen because bitcoin is decentralized cryptocurrency thats why government dont like with bitcoin

Eyjeyy

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Maybe because bitcoin allows convenience to the people as it uses a way of transactions. Hence, different banks and wallets are having not taking control to any transaction online. Moreover, bitcoin has no direct tax and it affects to the taxation of one's country.

parapencariuang

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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 is only afraid that cryptocurrency will not be able to control the income and expenditure of the country, so they cannot ensure that the cryptocurrency is suitable for use in the country or not. but not all governments do not allow cryptocurrency, because they also know that someday their country will need it

tosmartak

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Quote from: taeewo on September 20, 2018, 01:13:36 AM

cryptocurrency is risk and it's a threat to the government because of the decentralized nature it was created for, regulations is only the solution to reduce such risk by the authority.

The risk is something that cannot be changed as it will always be there. Even with regulations, that will never change the government from still feeling threatened about the whole decentralization aspect of things. They have always been in control, and they want to keep being in control, now this is taking that control away from them and even with regulation, there is a limit to the control they can have, so in a way, being threatened will remain for them.

AvenG

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Res Et Non Verbum

Many states have already legalized the crypto currency, but made it property, not a means of payment. But this did not affect the work of bitcoin. Difficulties in working with crypto-currencies arise only in those countries that have banned the use of crypto currency.

SaturnBay

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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?

Because they can't control cryptocurrency, what will you do when you can't control something? Kill it or ban it. They can't kill Bitcoin (it's really hard to kill bitcoin), so they ban it (easy way, no more headache)

wildey

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Quote from: AvenG on September 20, 2018, 06:52:45 AM

Many states have already legalized the crypto currency, but made it property, not a means of payment. But this did not affect the work of bitcoin. Difficulties in working with crypto-currencies arise only in those countries that have banned the use of crypto currency.

I don't know, some governments feel that cryptocurrency is a dangerous system in terms of transactions, or other negative things. but, I feel that cryptocurrency does not threaten the government, because some countries support this development.

meanwords

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I've read that the government doesn't really care much about Bitcoin when it comes to control because Bitcoin still relies on Dollars. I think the only thing that government hate is frauds and scams. Since cryptocurrency is anonymous, the government would have a hard time finding out the real culprit behind those projects.

parapencariuang

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in my opinion, why is the government always complicating digital currencies, because the government is still analyzing the system and performance of bitcoin, the government is still wary of bitcoin prices that are fluactive so that it is difficult to control bitcoin prices that are always changing in an instant

Wexnident

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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 main reason why the government are quite threatened by the cryptocurrency is because of its global capability used to transact internationally buying stuffs like guns and weapons for terrorism. Also for the financial system they built and we are using in the real world, it threatens the use of fiat currency due to improving relevance of cryptocurrencies.

magneto

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Quote from: celestinamoore on September 17, 2018, 03:39:49 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 that there are definitely some governments who have been pretty hostile towards bitcoin. But there are also some that are looking to regulate bitcoin services instead of banishing them from their nation, which should be acknowledged.

Anyways, I think that there are two main reasons why some governments decide to be hostile with their policy towards bitcoin.

Firstly, as you mentioned, some may think that bitcoin takes away control from them over the economy (which bitcoin really isn't able to do at this scale). But I think more importantly, some think that it's a threat to capital flight, and in countries with strict capital controls such as Iran, it's a huge worry for them.

beerlover

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Quote from: 7Dyoknga5 on September 18, 2018, 06:56:31 PM

Another crypto-threat-to-government thread.

governments will never be threatened by cryptocurrencies as they could easily reject and prohibit their people from using it. Like what they do on middle eastern countries where they blocked porn sites.

If bitcoin can't be regulated, chances are it won't be accepted in the country because according to some politicians "it's not safe and secured"

Well, it is not like it can’t be regulated, but to what extent can it be regulated. We are talking about something global here and the fact that it is decentralized makes it very hard for the government to clamp down on activities surrounding it.

Nevertheless, if they really want to regulate it, it is still easy since as it is, people will always need to spend in the long run, or simply convert to fiat and then the exchanges become regulated and that is it.

Hence, it depends on each individual the transactions they want to make. However, we all know that the decentralized world gives freedom to the users and take control away from the government, and government do not like that, coupled with the fact that people might start evading tax or trying to do shady stuff, but all these can be curbed with regulation.

taeewo

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cryptocurrency is risk and it's a threat to the government because of the decentralized nature it was created for, regulations is only the solution to reduce such risk by the authority.

Epimetheus

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Quote from: yusupjatigumilar on September 17, 2018, 07:36:51 AM

the government worries that if the crypto currency enters the economy of a country, the government will not be able to control it and can damage the exchange rate of the country's currency, and the transaction cannot be monitored whether it is for good activities or actions that violate the law and harm the country or someone

Cryptoncurrency are decentralised digital currency. Which means their are not under control of any kind of authority or government. And many government doesn't want anything in their country in which they have no control. Cryptocurrency mainly influence an country economy growth by directly affect their country share market. Irregularities in cryptocurrency production and distribution always negatively affects an country economy and cryptocurrency are volatile nature and this thing also affects an country economy. Cryptocurrency untraceable transaction is the main reason behind many criminal activities and for this reason many government ban it in their country. Due to cryptocurrency digital nature it does not pay any tax to the government and this thing also affects an country economy.

KS03

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Hi I'm KS03

Quote from: celestinamoore on September 17, 2018, 03:39:49 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?

Are you serious? The governments aka central bankers have a money printing machine which effectively keeps us all slaves and your not sure why they don't like crypto? Yikes. What should really keep you up at night is if they are the ones who introduced crypto.

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