Why Cryptocurrency threatens governments - page 4.

shoreno

full member

Activity: 1750

Merit: 118

Quote from: bettercrypto on January 02, 2020, 04:02:28 AM

Quote from: mamahdedeh on January 01, 2020, 11:09:14 PM

Quote from: Karmakid on December 31, 2019, 10:34:37 PM

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.

many governments are not ready to use cryptocurrency because every country has different problems. so that many governments are not ready to face cryptocurrency, on the other hand the government is not compatible with the decentralized system

It is not about the readiness of the government. Rather it is a awareness of the government that it may inflict harm in every citizen of their country as well as the changes that their economy might suffer if ever there is a failure in cryptocurrency industry. That is what countries that banned bitcoin saying. But the truth is, they don't want decentralisation and transparency for the citizen to live with full of regulation and manipulation.

readiness is important more that awareness because its useless if they are aware but if they arent ready to accept cryptos yet because like what other comentors said , what if the government of these countries still have a problem and that problem is hard ? if you are on thier position would you like to prioritize cryptos first ? no right . but its better if you sort harder problems yet so that you can have a peace of mind and of foccus on other non important stuffs .

criza

full member

Activity: 574

Merit: 108

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?

More competition on the management and uses of crypto currency means more choices for the people and freedom to choose what they want to use. The capability of crypto currency users would be mostly limitless ans will lead to the decrease in the customers of banks and other financial organization.

bettercrypto

sr. member

Activity: 1372

Merit: 269

★Bitvest.io★ Play Plinko or Invest!

Quote from: mamahdedeh on January 01, 2020, 11:09:14 PM

Quote from: Karmakid on December 31, 2019, 10:34:37 PM

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.

many governments are not ready to use cryptocurrency because every country has different problems. so that many governments are not ready to face cryptocurrency, on the other hand the government is not compatible with the decentralized system

It is not about the readiness of the government. Rather it is a awareness of the government that it may inflict harm in every citizen of their country as well as the changes that their economy might suffer if ever there is a failure in cryptocurrency industry. That is what countries that banned bitcoin saying. But the truth is, they don't want decentralisation and transparency for the citizen to live with full of regulation and manipulation.

mamahdedeh

full member

Activity: 812

Merit: 100

www.cd3d.app

Quote from: Karmakid on December 31, 2019, 10:34:37 PM

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.

many governments are not ready to use cryptocurrency because every country has different problems. so that many governments are not ready to face cryptocurrency, on the other hand the government is not compatible with the decentralized system

drlukacs

sr. member

Activity: 854

Merit: 253

l0tt0.com

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?

Yes, it will certainly threaten a country's economy and will even affect the world if a major country collapses like China or the United States. let me explain this, you have a chain of stores selling items and paying with cryptocurrency. All revenue must return to your wallet after 1 month or 1 year of operation. but if the employee there is dishonest and starts taking money from the store to use and you can not control the chain of retail stores. If it happens often, do you think your business will last forever? This is like the government is facing crypto. they cannot control this kind of technology and they are afraid that people will evade taxes and money laundering in many ways. Those are the indirect steps that make the country collapse.

Karmakid

sr. member

Activity: 742

Merit: 397

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.

HarmonyA

full member

Activity: 602

Merit: 100

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?

Cryptocurrency is seen as a threat to government because it is decentralized, permissionless.

anunnaki1202

jr. member

Activity: 78

Merit: 1

Quote from: Wexlike on December 31, 2019, 03:13:18 PM

But it is a peaceful revolution this time Wink

They never wanted a smart population is difficult to manipulate could they are planning to reduce us Shocked

Wexlike

legendary

Activity: 1473

Merit: 1086

Quote from: kro55 on December 31, 2019, 01:24:08 PM

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?

But it is a peaceful revolution this time Wink

kro55

sr. member

Activity: 1610

Merit: 301

*STOP NOWHERE*

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?

Gheka

hero member

Activity: 1400

Merit: 501

Vave.com - Crypto Casino

Quote from: bitbunnny on December 31, 2019, 10:54:52 AM

Quote from: iram3130 on December 31, 2019, 07:29:55 AM

The problem is with governments not having a solution for their tax issue. They have not figured out how to collect taxes from the profit which people earn through crypto, if they figure that out then I dont think there will be any problem for them.

I don't think that taxation is the biggest problem for governments. Much bigger issue is regulation. Governments are aware they have to accept cryptocurrencies somehow and introduce them into economy and financial system but the question is how. They need to take care of economic and financial stability and on the other hand they can't stop progress. So, how to find the balance, that is the question.

Indeed, tax is only a small problem if we compare with the regulations the government wants to apply to crypto, because cryptos always have anonymity and defense is too high, government regulations can only cover the outside, it cannot penetrate inside, doesn't really impact users, it's a big deal. As you say, even if the rules have been set, users probably don't have any pressure and are still comfortable when the government can't investigate anything, while crypto is gaining a big voice in the world, the government feels threatened when they are too passive in the mechanism of crypto

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

Quote from: iram3130 on December 31, 2019, 07:29:55 AM

The problem is with governments not having a solution for their tax issue. They have not figured out how to collect taxes from the profit which people earn through crypto, if they figure that out then I dont think there will be any problem for them.

I don't think that taxation is the biggest problem for governments. Much bigger issue is regulation. Governments are aware they have to accept cryptocurrencies somehow and introduce them into economy and financial system but the question is how. They need to take care of economic and financial stability and on the other hand they can't stop progress. So, how to find the balance, that is the question.

anunnaki1202

jr. member

Activity: 78

Merit: 1

The problem is that capitalism has to go..
If not we will-not survive extinction. As has been many extinctions before us.
We are a specie with amnesia forgetting things has happened before.
The whole things are repeating themselves.

In capitalist world = [money means life and life means money] this is why we divide our-self

Everything you see with your eyes is money.
Only thing they done for us to be free is things inside family and the air we breathe.

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

The problem is with governments not having a solution for their tax issue. They have not figured out how to collect taxes from the profit which people earn through crypto, if they figure that out then I dont think there will be any problem for them.

fravia

hero member

Activity: 770

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Quote from: romero121 on December 30, 2019, 11:07:44 PM

What makes a government powerful, the economy they've developed. This happens through various sources, and through different law enforcement that benefits people as well as the government. This lets the entire country to obey anything and everything put forth by the ruling government broadcasting their majority. When everything happens through the decentralized means the importance of government will get affected. This is the understanding, but I believe governments won't miss their importance if they're doing right things to the people. Just on two factors such as terrorism and unable to tax the users government finds it to be a threat.

That is true, governments cannot lose the control of their currencies at the moment. Nowadays in the world it's a pivot point to everything else. If they lose the currency the governments themselves might extinct. That is why they're trying to create their own coins now and market it as decentralised. However, people thus far have found out that bitcoin is the only currency that is worth holding and using.

Assface16678

full member

Activity: 1428

Merit: 135

★Bitvest.io★ Play Plinko or Invest!

Quote from: romero121 on December 30, 2019, 11:07:44 PM

What makes a government powerful, the economy they've developed. This happens through various sources, and through different law enforcement that benefits people as well as the government. This lets the entire country to obey anything and everything put forth by the ruling government broadcasting their majority. When everything happens through the decentralized means the importance of government will get affected. This is the understanding, but I believe governments won't miss their importance if they're doing right things to the people. Just on two factors such as terrorism and unable to tax the users government finds it to be a threat.

The cryptocurrency today is one of the highest prices in the market and by this many people caught by the news came from other people that they've got a lot of money by using this currency. Even another country now are adopting the use of cryptocurrency because they saw the potential of it that can give a lot of money and improvement in their transactions if they use this, we are now heading towards to the development of the community. Cryptocurrency is a money that converts into digital currency and supported by different coins like bitcoin, ethreum and other alternative coin that can gives profit depends on the market. But in some reason, the government in the other countries does not accept the use of cryptocurrency because in many reasons like the real information or the kyc. It is better to be safe and recorded all the transaction today because there is a lot of scamming and other crime uses of wrong or other information so the government cannot identify who and where is the money came from.

romero121

legendary

Activity: 3206

Merit: 1213

Enterapp Pre-Sale Live

What makes a government powerful, the economy they've developed. This happens through various sources, and through different law enforcement that benefits people as well as the government. This lets the entire country to obey anything and everything put forth by the ruling government broadcasting their majority. When everything happens through the decentralized means the importance of government will get affected. This is the understanding, but I believe governments won't miss their importance if they're doing right things to the people. Just on two factors such as terrorism and unable to tax the users government finds it to be a threat.

AitorMarcos

newbie

Activity: 61

Merit: 0

Quote from: anunnaki1202 on December 30, 2019, 09:03:48 PM

I might be wrong on what i will say here but cryptocurrency has-no value without fiat currency.

What satoshi dream was totally something else.
BTC took a wrong direction.

Should be no trading into fiat whatsoever .. he was thinking trading goods only with no fiat implications or to give value to BTC from fiat currencies.

And BTC do not threatens any governments as it can be tracked when exchanged into fiat currency and vice versa

With that trading feature Btc have extra value of a regular countable item.
Let me be more clear - people love to simplify and compare.
And comparing anything to USD is one of the easiest thing in the world. Moreover it gives an understanding of value of certain item (it could be a couch or btc whatever).
So BTC's feature of trading is not only a way to get wealthy, but a necessity in order to understand wtf is btc's cost.

anunnaki1202

jr. member

Activity: 78

Merit: 1

I might be wrong on what i will say here but cryptocurrency has-no value without fiat currency.

What satoshi dream was totally something else.
BTC took a wrong direction.

Should be no trading into fiat whatsoever .. he was thinking trading goods only with no fiat implications or to give value to BTC from fiat currencies.

And BTC do not threatens any governments as it can be tracked when exchanged into fiat currency and vice versa

luppecuppe

full member

Activity: 518

Merit: 102

Cryptocurrency offers governments an alternative power. The approval mechanism, one of the greatest features of the state, is taking away its power. It's weird. People leave some of their freedom to the state. To protect their remaining freedom. And sometimes the state becomes a very big monster. It threatens freedoms. Now there is a mathematics that threatens the existence of the state. Blockchain!

Topic: Why Cryptocurrency threatens governments - page 4. (Read 19857 times)