It is true finally government will accept the crypto due to massive demand of population and the race of modern technology crypto is need of stable economy.Government want to control all and the Bitcoin is decentralized and also many altcoin unable to control.
The approach of government about crypto is that crypto are using for illegal activities but they dont think about the positive things abut the cryptocurrency.So hopefully government should positive approach about the crypto and allow in country that common people take benefit from it.
Topic: Why Cryptocurrency threatens governments - page 3. (Read 19857 times)
Decentralized cryptocurrencies take power and control away from the government. They can just print as much fiat currency as they want, but they can't control the number of Bitcoins created.
All these theories about threat of cryptocurrencies to governments are exaggerated. Yes, the issue is lack of central surveilance body and lack of regulation but governments are also aware that cryptocurrencies are future and that crypto can benefit for them too.
So I don't agree that governments are in some kind of war against cryptocurrencies but they are trying to find some acceptable options how to embrace and adopt them.
So I don't agree that governments are in some kind of war against cryptocurrencies but they are trying to find some acceptable options how to embrace and adopt them.
there is obvious reason why governments not like cryptocurrency and that's because they cant control or manipulate cryptocurrency. bitcoin adoption is also low because of hurdles imposed by governments. governments are only willing to accept centralized cryptocurrencies.
even the thought of a decentralized financial system is very scary for nowadays governments. They can not let any system that they can not control. Because it can cause people to understand that the traditional financial methods are slow and useless.
I think the government doesn't like anything that can't be controlled. No one can regulate cryptocurrencies and free movement has no restrictions. While the government is always authoritarian, it always controls the central bank's circulation of currency. And most governments oppose cryptocurrency because crypto is anonymous and can also be used as a money laundering method for illegal transactions. We also believe that national money may be threatened by cryptocurrencies.
That is true. A lot of the governments around the world are against with the decentralized cryptocurrency because they see it as a negative thing for their country because the criminals might abuse it and use it to do more illegal activities. This problem can be prevented if the government will be open minded and try to make laws about cryptocurrency so they can make sure that everything is gonna be alright when they fully accept it. 
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?
It does not threaten political power, but it will really affect the economies of many countries. Have you ever questioned why a mighty technology nation like the United States would ban the use of cryptos in their means of payment? all have a reason. because they know that this blockchain technology is uncontrollable and that it can fuel money laundering. This will cause many financial disasters. The US government will easily run a budget deficit if there are too many money launderers and tax evaders. and I never thought that any government would accept cryptocurrencies, and if it did, it would be a foolish act. 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?
it doesn't threaten them in my opinion as i am sure that many big authority have investment in crypto, the reason behind opposition is that the money control will be snatched from them and they will two major issue:
1)They can not manipulate the budget as transaction will become transparent.
2)As fraud/scam will increased and they will have minimum control over them.
1)They can not manipulate the budget as transaction will become transparent.
2)As fraud/scam will increased and they will have minimum control over them.
The opportunities cryptos offer to people to earn money, to have full access to their assets without relying to any third party that the government can control, and the taxation that should be paid by people to their government that is somehow lessen because people are earning from cryptos that the government can't have access with are some of the reasons why government are threathened by cryptocurrencies.
Crypto is no more a threat to government or any nation then the people themselves. The greatest asset any nation has is their people and so it follows anything which enables those people to be as productive as possible is what enriches that nation.
What can go wrong in that relationship is the nation perhaps with great commodity assets where an economy is lopsided or biased then people do not always get respected and allowed to be fully enterprising or it can happen anyway. When the system is failing perhaps crypto could be seen as negative but otherwise its just a tool to enable business. Countries with capital controls will not appreciate the free flow of capital that BTC might bring but no country should operate long term with restriction of free movement of capital.
What can go wrong in that relationship is the nation perhaps with great commodity assets where an economy is lopsided or biased then people do not always get respected and allowed to be fully enterprising or it can happen anyway. When the system is failing perhaps crypto could be seen as negative but otherwise its just a tool to enable business. Countries with capital controls will not appreciate the free flow of capital that BTC might bring but no country should operate long term with restriction of free movement of capital.
Just because cryptocurrency is a global currency in which anyone around the world can use it when all people start using cryptocurrency, the government will be afraid of it because they can't control crypto. Even the banks can't control it, so maybe the main reason the government is afraid of it. They're going to lose world bank power and so on. Problem about it is that in this space they're powerless.
As of now, it seems that the cryptocurrency threatens the government but in fact, the government threatens the cryptocurrencies around. Even there are tons of projects and ideas related to cryptocurrencies, as long as the government doesn't give permission to them then it will be a waste of time for the team of cryptocurrencies. Cryptocurrencies still fall under the government.
Very well said. Both cryptocurrency and the government threatens each other because what you have said, government threatens cryptocurrency because cryptocurrency is still under the government's hands, if they dont legalize and give crypto team any permission they cannot take any action while cryptocurrency threatens also the government because if they legalize these currencies in the future, most of the government employees cant do easy their hidden agendas anymore like corrupting and importing their fellow citizen's money into their own bank accounts. I think the government doesn't like anything that can't be controlled. No one can regulate cryptocurrencies and free movement has no restrictions. While the government is always authoritarian, it always controls the central bank's circulation of currency. And most governments oppose cryptocurrency because crypto is anonymous and can also be used as a money laundering method for illegal transactions. We also believe that national money may be threatened by cryptocurrencies.
The fact that cryptocurrencies oppose the government in centralized system already says that it will become an enemy to them. Just think if you are the government by yourself, would you let anything to circulate under your hands without having control to it? of course you would not. As crypto is using blockchain that offers unalterable data storing is not a thing for corrupt government.
Cryptocurrency puts the whole monetary system in jeopardy which is being highly controlled by government and banks. But if you talk in numbers. The crypto market cap isn't that big that banks or government would care much at this stage. Decentralized currency could be a threat to these banks but not in its present form. It will have to go a long way to actually replace the present monetary ecosystem if possible. I guess these central authorities will take measures to curb the rise of cryptocurrency by then.
The latest threat of bitcoin rally to the community could be inflation. when it looks like money in circulation by high number of holders in a community at bullrun is high. The last bullrun led a lot of holders to purchase cars, electronics, travel and some other extravagant lifestyle. It could be threat to the politicians and economy. It is now important for some country citizens to manage the fund at rally and prepare for tax payment, as Government plans to take their cut.
Crypto is another terrorist that has terrorize all governments. If crypto adoption becomes a reality then the government will be only spectator in the financial affairs of the country since they don't have any control. Still wanna know why government don’t like it?
Crypto is not a terrorist for the governments but it is a great tool for the success of any state if the governments will study about crypto then they will realize that the adoption of crypto will give more strength to their economy and will boost their development. Some people think that crypto will be harm for the governments because the governments do not know the reality of crypto and they admit that it is harmful for them but in actual the condition is opposite to it. I will give them the example of Japan who have legalized bitcoin for their state and till now they are using it on state level and they faced not any harm from bitcoin but they are much faster on the road of development from other countries. I think the government doesn't like anything that can't be controlled. No one can regulate cryptocurrencies and free movement has no restrictions. While the government is always authoritarian, it always controls the central bank's circulation of currency. And most governments oppose cryptocurrency because crypto is anonymous and can also be used as a money laundering method for illegal transactions. We also believe that national money may be threatened by cryptocurrencies.
The fact that cryptocurrencies oppose the government in centralized system already says that it will become an enemy to them. Just think if you are the government by yourself, would you let anything to circulate under your hands without having control to it? of course you would not. As crypto is using blockchain that offers unalterable data storing is not a thing for corrupt government.
I think the government doesn't like anything that can't be controlled. No one can regulate cryptocurrencies and free movement has no restrictions. While the government is always authoritarian, it always controls the central bank's circulation of currency. And most governments oppose cryptocurrency because crypto is anonymous and can also be used as a money laundering method for illegal transactions. We also believe that national money may be threatened by cryptocurrencies.
The fact that cryptocurrencies oppose the government in centralized system already says that it will become an enemy to them. Just think if you are the government by yourself, would you let anything to circulate under your hands without having control to it? of course you would not. As crypto is using blockchain that offers unalterable data storing is not a thing for corrupt government.
I think we can make a lot of money easily from cryptocurrency, and cryptocurrency threatens the government because there are no taxes or taxes. We can work here very freely and the government has no interference Again there are many who use crypto illegally as a threat to the government.
Crypto is another terrorist that has terrorize all governments. If crypto adoption becomes a reality then the government will be only spectator in the financial affairs of the country since they don't have any control. Still wanna know why government don’t like it?
Well Thats one of the main reason why government doesnt want to adopt cryptocurrency. They know that they cant control it which can affect the economy of one country once the price of it change. Jump to: