The government will have a hard time controlling bitcoin because the price is very volatile unlike the case with fiat currencies circulating only in the real world so that many countries in the world strongly prohibit crypto if it is accepted as a digital currency.
Collection of taxes and the security that makes this market more like a threat from the government, they really have no control over this market and maybe government are still trying to control it. We also have no control over this, and if government make a decision about cryptocurrency we have to follow it. 
Topic: Why Cryptocurrency threatens governments - page 26. (Read 19893 times)
as we all know, the crypto space is decentralized, backed by blockchain technology, now understanding the decentralized nature of blockchain and crypto, the government will do all it can to make sure crypto dont see the light of the day, as the adoption of crypto and blockchain may shine the light into their dark side, thereby limiting their fraudulent activities.
In my opinion, governments banned cryptos because of our own behaviour. The technology was made for a good cause but we the adopters later developed bad intentions. People started to use it as an opportunity to scam others and so governments had no other option than to "protect" citizens by banning. That was what China did!
That is why governments will ever be against bitcoin and blockchain technology. The fact that bitcoin is going to give freedom to the society governments will never like. The politicians hate a decentralized system and that is what blockchain technology stand for.
This is a revolution against fiat money, and since this market cannot be controlled by the government that is why they feel the threat. Blockchain technlogy is a game changer in this market, many businesses are now using it because they see big potential in this technology. 
That is why governments will ever be against bitcoin and blockchain technology. The fact that bitcoin is going to give freedom to the society governments will never like. The politicians hate a decentralized system and that is what blockchain technology stand for.
You have a point, the politicians and the governments hated cryptocurrency because it is a decentralized system that they did not able to control. One thing that for sure they are afraid of, they think that this system of blockchain technology will become a big competitor soon to the government when it comes to investment. No one deposit their assets in the bank due to regulated and your not the one holding your keys only a bank. Not just like cryptocurrency that you know everything when you have a savings fund a investment as well. 
That is why governments will ever be against bitcoin and blockchain technology. The fact that bitcoin is going to give freedom to the society governments will never like. The politicians hate a decentralized system and that is what blockchain technology stand for.
Electronic money not subject to tax. Politicians say that would entail tax evasion from businesses, which would cost the state budget.
Good news for you. Cryptocurrencies are subject to taxes. If you don't report your income (and so, do not pay related taxes) it doesn't mean cryptos aren't subject to it. Any income is supposed to be reported accurately, no matter where the income comes from. It's how the system work but apparently a lot here have never paid a single penny for their tax
I am sure in a few months or years there are a lot of persons who will get serious problems with national taxes department. And the majority will say "But I didn't know!..."
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?
Because corruption will be disabled when the cryptocurrency took over the market as payments and a currency.because of the decentralization of the cryptos they will have no access on getting money from individuals since they dont know who has tp collect because of anonymity
Electronic money not subject to tax. Politicians say that would entail tax evasion from businesses, which would cost the state budget.
Firstly, even if it concerns a pair of dirty socks, you'll be subjected to taxation. Considering that Bitcoin ranks higher than a pair of dirty socks, you legally in no shape or form can avoid taxation. Another thing is that people believe just because their government hasn't regulated or legalized Bitcoin, that they don't have to pay tax, which is wrong. There is no way to get around it so don't count yourself lucky.
Secondly, the state doesn't lose anything if people don't pay tax over their crypto holdings and profits. If you don't hold Bitcoin or don't trade it in a profitable manner, the state wouldn't get anything from you in the first place, so what difference does it make that you don't pay any taxes if you do hold or profitably trade Bitcoin?
Bitcoin is power to the people. Why people still put that power to waste is what boggles my mind.
The government will have a hard time controlling bitcoin because the price is very volatile unlike the case with fiat currencies circulating only in the real world so that many countries in the world strongly prohibit crypto if it is accepted as a digital currency.
I think its because some people even politicians have devised a means of carrying out criminal activities using bitcoin.
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?
At all times, money that went to the territory of the state, were and are the basis of its economy. If some citizens earn a lot of money on crypto-currency without much effort, this does not mean that the state needs the crypto currency. The state should all recheck and predict the long-term consequences before deciding to legalize a virtual currency that does not belong to anyone, not provided with anything, with great volatility and unthinkable for national money at a price that the state can not control. Therefore, the state as a whole does not need a crypto currency. And if legalized crypto currency will threaten the economy of the country, there is no doubt that the state will limit or even prohibit the use of decentralized crypto currency. 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?
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 is doing all this because they don't have any other options. People are just using crypto for all the bad means and get away with doing shit. Governments were forced to do a quick research on crypto, especially bitcoin when they came across crimes and illegal activities being done with the use of bitcoin as the means of currency.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 US congress have admitted that they are scared of bitcoin and that it might take over USD one day,but that's a whole different story. Because what the US congress thinks won't really matter, for they are old fucks who don't know shit.
Governments might accept crypto but they won't use crypto or blockchain towards its potential but for stupid ideas.
In my opinion, it is because, of the banks. Banks has been a long time partner of our government, the government looks after the bank and the bank looks after the government, now, cryptocurrency which does not need the use of banks or any other third parties are coming, and the banks are threatened that they will lose their jobs, so the government as well feels pressured by this circumstance, but there are still lots to discuss when it comes to the government and cryptocurrency.
Crypto currencies are decentralized which means no one is controlling but governments want the currency system under their control so they are trying to limit the usage of crypto currencies in their country but it can't be done forever since people try to move their market capitals into the crypto currencies which reduces the tax for any government so they need to regulate the crypto currencies which can yield them the taxes rather than completely banning it.
Electronic money not subject to tax. Politicians say that would entail tax evasion from businesses, which would cost the state budget.
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But why fear it if you could create balance or merge the technology in a way that even the country as a whole could benefit from the evolving technology, don't you think so?😂
But why fear it if you could create balance or merge the technology in a way that even the country as a whole could benefit from the evolving technology, don't you think so?😂
For one cryptocurrencies threaten the governments' monopoly on money. Having a monopoly, especially over something as essential as money, grants one power. No one likes losing power.
Second, the current status quo of the monetary system works very well for the people on top. So obviously one is hesitant about changing the status quo.
Naturally both assumptions contain their fair share of paranoia, which may or may not be warranted. So far only few governments actively battle cryptocurrencies or try to smother its market. However there seems to be a correlation between a government's urge to control the economy and money supply and the extend of their crypto regulation which leads me to the conclusion that the assumptions above at least in part reflect reality.
The main reason that governments are stupid is because they are too afraid if the crypto spreads in the community, and on the other hand we can justify that many people abuse crypto for the black market, such as arms sales and others, but I believe in the future it will be better and more familiar to the government, I really don't like it when they control crypto completely.
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?
Few misconceptions:
The "eyes of the community" already hope to see cryptocurrencies as a global currency, but it isn't what matters. What matter are the people who aren't using it, and people who don't know what are digital currencies?
There aren't so many countries "limiting" or "banning" its use. And most governments are in fact worried to see cryptos used for illegal activities (which is wrong to be afraid of, if you look how fiat currencies are used to do exactly what they're worried to see.)
" force the traditional banks to reduce their ridiculous interests rate". So the rate is already low but you want it to be reduced again? The low rate goes with low risk, you can get from a bank a 5% interest rate but it goes with higher risks. The investment is always related to risks, you can't get a 10% p.a. without any risk. Otherwise, everyone would be investing each penny they can collect.
Politicians are no longer politicians, they are service providers to the financial world, and they can no longer get rid of them. When politics will really want to get rid of banks, they will consider digital currencies more seriously
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
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