Why Cryptocurrency threatens governments - page 24.

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Quote from: hugeblack on September 17, 2018, 05:09:43 AM

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.

No it won't. If they fail to control bittorent they will definitely fail to control Cryptocurrency.. Cryptocurrency is more decentralized than BitTorrent.
Internet is not a good example. It is very centralized Cryptocurrency isn't.

We should be very worried Howevery . We should be worried because they could totally control/regulate the Internet in order to capture Crypto World. The desperation is there already.

bloodyvio

full member

Activity: 546

Merit: 102

the government wants everything under their control
whereas cryptocurrency is economic freedom
and of course that is not in line with the government's vision

solkinsolali

member

Activity: 154

Merit: 17

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

... 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 this may probably be one of the reasons. You should know that even our governments too are very selfish and what ever interest the bank charges you, a fraction of it is returned to the government through their central banks.

Sarastiche

member

Activity: 532

Merit: 10

BITCOIN IS THE CURRENCY OF THE GLOBE

Government globally believes cryptocurrency is a threat to the world economy, as government do not have control over the affairs of the space, hence they term it as an Illegal sector, In the near future government globally will wrestle to own a in the affairs of the space.

Nmizu

member

Activity: 124

Merit: 10

crypto never threatened the government but the crypto threatened rotten politicians and corruptors
they will not be able to do what they want corruption because of the openness system in crypto and that is what they don't like until now
Likewise with banks that carry out black campaigns against crypto

engrawaz

newbie

Activity: 153

Merit: 0

Simply because governments like to have complete control over everything in our daily lives.

Cofee.BLUE

sr. member

Activity: 546

Merit: 250

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?

No, cryptocurrency is not a threat at all mainly because government can just shut down the flow of crpytocurrency in their country. If there are too much use of cryptocurrency than the fiat currency well government will take their hands to increase the need of fiat, how? simply banning major used cryptocurrencies. The thing that threatens with cryptocurrency is the security because of terrorism.

pinoyden

full member

Activity: 756

Merit: 102

I dont think cryptocurrency threatens anyone not even governements . crypto is silently working online independently , people are the ones that use a cryptos which means they are the ones that threaten the cryptocurrency . infact , cryptos are actually beneficial to all of us because they help our lives to be easy in terms of giving a good and reliable payment service better than any other services out there .

tonyvo2017

member

Activity: 526

Merit: 10

Lifestyle & Wellness Platform

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 it makes the government feel limited about control. They can not manage transactions. Is it legal? And that has caused security concerns. In fact, there have been many cases of money laundering or illegal trafficking with Bitcoin being discovered and that fear is well founded.

Linhkej

member

Activity: 350

Merit: 10

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 first is the security issues. Crypto has good information security. Since then it has been exploited for illegal activities. Not many cases of money laundering or drug dealing with crypto has been exposed. This leaves the government feeling lost of control, despite the fact that there are no legitimate transactions.

andriw

member

Activity: 406

Merit: 11

Maybe the presence of a cryptocurrency can threaten the existence of fiat, in my opinion, we take the example of US Dollar, almost all trade between countries using these currencies and the dollar circulates in almost the entire world, causing the dollar value is exceed almost all currencies in the world. Then, what happens when almost all trade between countries uses cryptocurrency, Bitcoin for example, then the circulation of Dollar in the world is drastically reduced because there is no demand, resulting in a drastically fall in the Dollar value. And surely many conglomerates will not want that to happen Cool

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Quote from: Drobek on September 18, 2018, 02:31:37 PM

Quote from: Kakmakr on September 18, 2018, 01:58:36 AM

Governments are not threatened by Bitcoin at all, because they still control most of the on-ramps and off-ramps for Bitcoin to Fiat conversion. They are in bed with the Banks and other financial institutions, so they still have control over a vast area of the financial system.

Bitcoin just makes certain things more easy, like :

~ Granting financial privacy and freedom to citizens.
~ Capital Flight
~ Tax evasion
~ Global crime and cross border transactions
~ Terrorism funding
~ Removing the 100% control over currency manipulation and creation.

So, until some kind of solution can be find to prove them wrong, we will have to accept that they will be hostile towards this technology.

You just took the words right from my mouth. I see Tax evasion and Terrorism funding as a main point why governments find it difficult to fully endorse bitcoin. I for instance don't pay tax on my trading gains because my government haven't been able to come up with an efficient way to impose tax.

Well, just make sure that you keep some funds aside, when they do. In my country they did the same and we had a free for all for a while, but they quickly closed that loop-hole and implemented "Capital Gains" taxes on all Crypto currency trading income. Luckily for us, taxes for that income was only applicable from the time when the new stipulations were added to the tax regulations.

Most countries implement "Capital Gains" taxes on trading income and VAT on normal Crypto purchases. Roll Eyes

Renal

member

Activity: 434

Merit: 10

fiat currency is certainly different from digital currency if the government will pass the crypto currency, it is necessary to regulate it if not, the government will be more difficult in handling digital currencies.

7Dyoknga5

jr. member

Activity: 210

Merit: 1

dApps Development Automation Platform

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"

vv181

legendary

Activity: 1932

Merit: 1273

Governments don't like anything beyond their control, and Bitcoin fits it perfectly, they can't control the ecosystem of Bitcoin. It is the reason why some governments making a strict regulation, to make user away from the true decentralization.

spongegar

full member

Activity: 476

Merit: 100

Getting it on a government's point of view, crypto currency is very unstable and unregulated in itself. It could be used for criminal activities like money laundering and could threaten the citizens with fraud. In my stand point, alot of other countries have already placed laws to prevent the misuse of crypto currency. Bottom line? Politics!

budrabut

jr. member

Activity: 119

Merit: 1

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.

There are many reasons of banning Bitcoin and others currency, your opinion is probably one of the reasons. Most of country are questioning the security of Crypto currency due to the decentralized principle of it. Even it is claimed it has very high risk and use for finance terrorism. As crypto growth, there are some country that legalize the existence of bitcoin and other Crypto because they realize that it is not only about digital currency but it is more than it. It is to keep the improvement of technology whereas all are coming to digital.

So, it is very wrong if Crypto threatens governments.

metalglowd

member

Activity: 546

Merit: 10

💲 EMIREX EXCHANGE 💲

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 this is more about the nature of cryptocurrency that has a high risk and bubble. this may be proven with market history from the end of 2017 to the present. fluctuations and manipulations which are generally the topic of daily conversation

Irvinn

full member

Activity: 966

Merit: 104

Crypto currency does not threaten governments. This statement is generally wrong. If everything is correctly organized, the Crypto-currency will be beneficial for the economy of each country. An example of this is Japan, where in April of last year the crypto currency was recognized as a means of payment, and only last year the country's economy grew by 0.86 percent because of the crypto currency. The figures are not very large, but this is only the beginning.

torrihuff

jr. member

Activity: 129

Merit: 1

What if crypto currency was created by the government and was a threat to you? Have you considered this? Every one of your transactions on the public ledger. That 5 you spotted your friend. That's now can be made a taxable event as it's on the blockchain. Once you have the blockchain and no paper cash they got you. I feel like there should be a huge discussion around this as its a potentially dangerous situation.

Topic: Why Cryptocurrency threatens governments - page 24. (Read 19893 times)