Why Cryptocurrency threatens governments - page 27.

tomahawk9

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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.

Cryptocurrencies aren't threatening the govt, they're threatening the banking system as a whole. Nowadays, people are opening their eyes and have started to take their money out of system to put it in a decentralized system like Bitcoin where they can be their own bank. Obviously, this means that the govt will start to lose control over people's money, that's why they're doing everything they can to force people to stay within the boundaries of the financial system.

Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

what do you think will make governmental bodies to finally accept crypto?

Adoption. I think once cryptocurrencies like Bitcoin go full mainstream and people start accepting them as payment worldwide, the govt around the world will have no choice but to embrace cryptocurrencies as the general public will be using it for pretty much anything.

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

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.

Politics can be a reason but that's not the major thing why they are banning and puts caution for the usage of cryptocurrencies. They are one sided on this criteria that they only see crypto's as a gateway for illegal trades which do really happens until now.

They are close minded to this thing and reacting that they only should be the one that the people must believed to. And as their part of the economy, they are also trying to protect the banking industry which gives a big portion for the country's money through taxation. It's still new and they are still in the process of learning it but time will come, they'll embrace it.

Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

Regulation and one declaration from a big and trusted source/agency.

celestinamoore

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Quote from: HeRetiK on September 17, 2018, 06:50:01 AM

Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

[...]

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.

[...]

Most governments barely understand the workings of the internet (otherwise we'd have less silly and / or damaging regulations), let alone the workings of cryptocurrencies. As such I'd still ascribe most of the restrictiveness to incompetence and ignorance as far as new technologies are concerned.

Or at least that's the best case scenario. I'm sure there are some that very well understand the implication of cryptocurrencies. Those for the most part will likely fear loss of control.

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?😂

terencio

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Fiat currency its a currency that a government has a control while crypto can not be manipulate and can not be created out of thin air. If people adopt a crypto currency then the fiat currency price will plummet. Its one of the reason why government impose a stricter rules in cryptocurrency.

HeRetiK

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Quote from: celestinamoore on September 17, 2018, 04:39:49 AM

[...]

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.

[...]

Most governments barely understand the workings of the internet (otherwise we'd have less silly and / or damaging regulations), let alone the workings of cryptocurrencies. As such I'd still ascribe most of the restrictiveness to incompetence and ignorance as far as new technologies are concerned.

Or at least that's the best case scenario. I'm sure there are some that very well understand the implication of cryptocurrencies. Those for the most part will likely fear loss of control.

celestinamoore

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Quote from: hugeblack on September 17, 2018, 06:09:43 AM

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.

And for how long will they control absolutely everything. We are suppose to be living in democracy era but what do we get, restrictions from freedom

celestinamoore

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Quote from: SyGambler on September 17, 2018, 06:36:34 AM

Quote from: celestinamoore on September 17, 2018, 04:39:49 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?

simply bitcoin enables people to control their money the way they want , some people in first world countries may not realize how important is that but I will try to give an example
for example I live in Syria and I guess you already heard about it from the news , there are many Syrians who migrated to USA in the past and now they have citizenship but now USA prevents dealing with Syria at all
so imagine if you are a Syrian who has an uncle or relative in USA and that relative isn't even to help you at all with money simply because USA prevents that and they count all the transactions as a way to help terrorism ( as they call it Sad

)

so in Syria even the popular banking and wallets services aren't available thanks to USA : Visa , Master , Paypal , Neteller , Skrill ...etc
bitcoin created a way for people to send and receive money easily here without caring about the US ban and other banking related problems

in short people who live in a first world country may look to bitcoin as just a way to make more money , but if you move to a 3rd world country you would know how importance blockchain is and of course thats one of the reasons that governments hate bitcoin

I fully understand your point, first world countried may take it for granted but for us it's a way of financial freedom and yet our governmental body is trying by all means to limit it's existence. It's really sad

SyGambler

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Quote from: celestinamoore on September 17, 2018, 04:39:49 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?

simply bitcoin enables people to control their money the way they want , some people in first world countries may not realize how important is that but I will try to give an example
for example I live in Syria and I guess you already heard about it from the news , there are many Syrians who migrated to USA in the past and now they have citizenship but now USA prevents dealing with Syria at all
so imagine if you are a Syrian who has an uncle or relative in USA and that relative isn't being able to help you at all with money simply because USA prevents that and they count all the transactions as a way to help terrorism ( as they call it Sad

)

so in Syria even the popular banking and wallets services aren't available thanks to USA : Visa , Master , Paypal , Neteller , Skrill ...etc
bitcoin created a way for people to send and receive money easily here without caring about the US ban and other banking related problems

in short words people who live in a first world country may look to bitcoin as just a way to make more money , but if you move to a 3rd world country you would know how important blockchain is and of course thats one of the reasons that governments hate bitcoin

hugeblack

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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.

celestinamoore

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Activity: 85

Merit: 1

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?

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