Crypto currencies are not at all a threaten instead of that we need to understand government are really worst for their country own citizen mate. Always government doing bad for the people only.
So later than bitcoin value reaches to big value then government will come and pick the bitcoin's leg.
Topic: Why Cryptocurrency threatens governments - page 25. (Read 19893 times)
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. 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.
The state uses their currency as a tool of economic power that allows them to control their people. Meanwhile, with cryptocurrency, the government loses that ability because they no longer have that control and people can now send and receive money globally without government control or third-party financial institutions such as banks.
Losing economic control frightened the government, they refused the cryptocurrency rather than finding ways to incorporate new digital currencies into their current platforms.
However, as noted by history, there have been many innovations that changed the world, such as the internet. The government can only fight it for so long before the Government must acknowledge and accept it.
Losing economic control frightened the government, they refused the cryptocurrency rather than finding ways to incorporate new digital currencies into their current platforms.
However, as noted by history, there have been many innovations that changed the world, such as the internet. The government can only fight it for so long before the Government must acknowledge and accept it.
The government is trying to make everything under its control, the banks control all the money, and the government controls that banks.
Blocking or restricting is a feature of anything new, new things need time to accept.
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.
I do not know why people tend to be controlled? But this is a present trait.
Blocking or restricting is a feature of anything new, new things need time to accept.
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.
I do not know why people tend to be controlled? But this is a present trait.
Tradition.
People seem to feel secured when someone is in control. I am not against it but there are times it goes overboard.
Bitcoin almost looked like "freedom" and governments will try to prevent that. Yes some countries just looks like they are in democracy but it is really not that type of government.
It is still the authority who will filter everything before being passed to the media to spread the news.
A news that is already cleaned up. Sad but true.
Government are insecure about losing their power and control of money. I also think it may be difficult to regulate crypto with taxation etc. They're also playing safe as it could lead to banking system collapse
in my opinion, many governments in a country prohibit cryptocurrency because they think that bitcoin has no formal foundation and regulating authority, bitcoin is prone to being misused for illegal transactions, money laundering, and terrorism financing, I think that reason doesn't make sense, because there are countries that legalize it like Japan
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Governments are not as little as you might think. Yes in places like Venezuela or Madagascar or whatever the politicians may not have the power of some people in USA but the people in USA do not have power of the USA government neither. Hence, in the end wherever you are living the crypto you use will not affect the government and won't affect or threaten the government at all, it is not that much powerful and it will never be that much powerful. Even the stock market that is trillions of dollars do not affect government enough to threaten it. I believe economy is the most important part of a country that governments care about but it is far from only thing.
Simply, because they cannot collect taxes through digital currency that's why they will do their best to shut it down though many of people uses bitcoin as part of their everyday living.
Because cryptocurrency is an unregulated market and cryptocurrency is very unstable!
Moreover, cryptocurrency is difficult for the government. In order to ensure financial order, the government has to say no to the cryptocurrency!
Moreover, cryptocurrency is difficult for the government. In order to ensure financial order, the government has to say no to the cryptocurrency!
The government is trying to make everything under its control, the banks control all the money, and the government controls that banks.
Blocking or restricting is a feature of anything new, new things need time to accept.
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.
I do not know why people tend to be controlled? But this is a present trait.
Banks are the backbone of the economy for a country. If banks have huge money in accounts, the economy of the country will also improve, but if they have no money it means that governments have no money for their needs. Now they realize that people put their money in cryptocurrency and it is not good for a country. Their money is going out of the country and it is overall not good. Blocking or restricting is a feature of anything new, new things need time to accept.
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.
I do not know why people tend to be controlled? But this is a present trait.
If the cryptocurrency is rapidly spreading globally, the government’s control over the economy will fall sharply. Their currencies will depreciate sharply. But all this is ok, they can invest in cryptocurrency.
Government still believe cryptocurrency used for illegal activity like tax evation or money laundry. But i am believe in near future, government regulator body will accept bitcoin or cryptocurrency for payment because most advance country already regulate bitcoin and crypto
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.
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.
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They simply don’t want a deflationary currency being used worldwide. Governments through central banks use their inflationary currencies to support their increasing expenditure. As for bitcoin, they can’t control it. They can currently tax it but not control it, although they are trying to with regulations.
This has discussed millions times and all that I can take from the different views is that, government may face challenges in the later times with fiat and crypto currency exchanges and thats why they are taking their own time to regulate it. I mean they are not ready for it and unless and until they has a plan they will be making some limitations or bans over it for sure. For now they dont want the economical stress increase just because people are putting all their wealth into the crypto currency and thus diverting their assets from the real assets to virtual assets which are pseudo anonymous to get traced.
I think because the nature of the crypto currency is still anonymous and the government cannot regulate the circulation of this crypto currency, so it might threaten from their country's currency, they are worried if the use of crypto currency is higher than their local currency
I do not understand for sure but some articles that I read about baning or cryptocurrency problems that occur caused the government can't control the crypto because they are decentralized. Then also about crypto bans and ICOs in China as well, but their official reason is to protect their citizens to avoid ICOs scamming.
It is not actually threatening the government itself but the corrupt officials who make their lives easy with tax paid. they know that crypto currency's goal is to become a taxless community not to undergo some hassle papers which is need to be filled up everytime you have to open a new account, and become anonymously transacting peer to peer.
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 is threatens simply because they are not the one who prints or make cryptocurrency. The people are the one who control it right now. Fiat money on the other hand controls and prints by goverments and banks. Even if they saw the blockchain technology potential they still want to ban it cause they scared that they cant manipulate cryptocurrency. They just want us to follow the same financial system that we have from wayback. They dont want us to adapt to the system that blockchain will bring. Change is inevitable so do Cryptocurrency.
If all people using crypto,the government won't be able to to collect the taxes, the Fiat value will become disrupted, so it's kind of dangerous if all people using crypto, the way to make the government accept crypto is to make crypto like Fiat, the government will accept crypto if we make it into centralised
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