Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
The government may be afraid of people knowing what blockchain and crypto technology is but the reason is not that they are afraid of people accepting crypto as a global currency, the reason is that they lack management in this new technology, they cannot control the volume and flow of money as you say. And this may be an opportunity for countries with the ambition to attract cash flow of other countries, economic war will again occur and it is a threat that makes the government want to handle crypto
Topic: Why Cryptocurrency threatens governments - page 5. (Read 19893 times)
I think the most common reason why many government opposes crypto are because the political leaders who make financial policies in the country are uneducated of the technological world and don't even know or understand how the crypto industry and stuffs work and hence they are always in doubt and fear anything new or strange to them.
So far, governments of various states have declared that cryptocurrency is not a threat to global financial stability. However, in general, cryptocurrency is alien to states and they cannot control it. Therefore, cryptocurrency is not needed by states and their governments. They can allow the decentralized cryptocurrency to go on their territory, but they will never actively support it. Now governments are trying to create their national stable coins, because they highly appreciated the blockchain technology on which decentralized cryptocurrency works. They can become a serious competitor for cryptocurrency as a means of payment.
Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
The government may be afraid of people knowing what blockchain and crypto technology is but the reason is not that they are afraid of people accepting crypto as a global currency, the reason is that they lack management in this new technology, they cannot control the volume and flow of money as you say. And this may be an opportunity for countries with the ambition to attract cash flow of other countries, economic war will again occur and it is a threat that makes the government want to handle crypto
There are many reasons why cryptocurrency threatens governments, because governments fear cryptocurrency is used for transactions
illegal such as buying weapon, using by drug dealer, money laundering, and so on. Which is actually fiat more widely used for illegal
transactions. The next reason investors in banks moving their money to invest in cryptocurrency which is more profitable if invest in
cryptocurrency. And the last reason the government is afraid of not being able to get taxes from cryptocurrency. As we know, cryptocurrency
is decentralized which can not be controlled by anyone. Therefore, the government will do various ways so that cryptocurrency cannot become
a global currency. Because if crypto becomes a global currency, the government can't control the financial world.
illegal such as buying weapon, using by drug dealer, money laundering, and so on. Which is actually fiat more widely used for illegal
transactions. The next reason investors in banks moving their money to invest in cryptocurrency which is more profitable if invest in
cryptocurrency. And the last reason the government is afraid of not being able to get taxes from cryptocurrency. As we know, cryptocurrency
is decentralized which can not be controlled by anyone. Therefore, the government will do various ways so that cryptocurrency cannot become
a global currency. Because if crypto becomes a global currency, the government can't control the financial world.
Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
The government may be afraid of people knowing what blockchain and crypto technology is but the reason is not that they are afraid of people accepting crypto as a global currency, the reason is that they lack management in this new technology, they cannot control the volume and flow of money as you say. And this may be an opportunity for countries with the ambition to attract cash flow of other countries, economic war will again occur and it is a threat that makes the government want to handle crypto
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
The government may be afraid of people knowing what blockchain and crypto technology is but the reason is not that they are afraid of people accepting crypto as a global currency, the reason is that they lack management in this new technology, they cannot control the volume and flow of money as you say. And this may be an opportunity for countries with the ambition to attract cash flow of other countries, economic war will again occur and it is a threat that makes the government want to handle crypto
Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
The government may be afraid of people knowing what blockchain and crypto technology is but the reason is not that they are afraid of people accepting crypto as a global currency, the reason is that they lack management in this new technology, they cannot control the volume and flow of money as you say. And this may be an opportunity for countries with the ambition to attract cash flow of other countries, economic war will again occur and it is a threat that makes the government want to handle crypto 
Actually one of the main reason why the government wants to ban and put a limitations between the using of cryptocurrency and blockchain technology is because they are afraid to the people who are open minded nowadays and have a knowledge on what cryptocurrency and blockchain is. The government are afraid that when the cryptocurrency accepted by the people then it would be possible a global currency in which the government cannot control the flow of the money all over the world. We already know that the government was the one who controls the money system in the country so when the crypto becomes the global currency then it would be a problem for them because they will not be able to control the money because of the reason that crypto is decentralized.
Its really tough to say that will government really accept btc . There are many things behind that one of the major thing is that government think about the security of the transaction and they really don't know about the technology .I need government need to study on btc and appoint Blockchain and crypto expert to maintain the whole thing .If government try to step up on btc definitely they will not think that this currency is threaten for country.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
The government is accepting the use of cryptocurrency there are a lot of countries now are supporting the use of crypto to make their transactions faster and less hassle to transferring money, today they are trying to improve their country by adapting into the technology. This kind of action has a massive impact on the crypto world because they might affect the transaction and lessen the physical money, although it is suitable for the improvement, in the digital world no system is always protected, even the most secure system, and servers got hack by the intruders.
What is your take on this and what do you think will make governmental bodies to finally accept crypto?
Simply because cryptocurrency is a global currency in which anyone around the world can use it when all the people start to use cryptocurrency the government will be afraid of it because they cannot control the producing of crypto even the banks can't control it so that may probably the main reason why the government are afraid of. They will lose the control of the world bank and etc.
not being able to control crypto is one of the reasons the government rejects crypto. Another reason is that most cryptocurrency is decentralized, has no taxes, can disrupt a country's economic ecosystem, can be used as a means of money laundering, and many other reasons that you can find in the news on the site that discusses crypto. 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
Indeed, cryptocurrencies are a decentralized, anonymous currency when trading, so the government is very afraid of this because they will not control it. Also its appearance may affect the flat currency, damaging the country's exchange rate. No one knows in advance what the future is, whether electricity will be legal, but for the time being I haven't seen any effective solution for the government to accept it, maybe we need to have a bigger revolution. The government's job is to control everything in your country, they don't like the uncontrollable things, from the internet or the banking system, everything is monitored by the government and it is impossible for bitcoin manipulation because it is a decentralized system, in addition to the transaction is not taxed or disclosed personal information, it can lead to money laundering actions, which can damage the country's exchange rate ... so accepting cryptocurrencies is not yet possible, but I believe that in the near future the government will see how big the benefits of cryptocurrencies are and maybe they will amend laws to make cryptocurrencies legal.
Governments of the advanced countries to understand importance of cryptocurrencies and this is the whole reason why they are planning to launch their very own digital coins. They are the future of money and cannot be ignored. The reason behind resisting bitcoin legalization is fear to lose control. This makes a lot of sense. Like you have already said, authorities do not like to lose their power. 
The core feature of blockchain technology and cryptocurrency is its decentralized nature which gives total and full control to its users allowing them to be in control and responsible for their own funds. While on the other hand the government likes being in control of the economy and all funds and all financial transactions of its people and given to this the government interest and crypto core feature do not fully align as crypto won't allow the government to be in control of people transactions
The development of cryptocurrencies as time goes unavoidable. So the government over time will accept cryptocurrencies such as the Chinese government that has announced crypto legal for its country.
The government's job is to control everything in your country, they don't like the uncontrollable things, from the internet or the banking system, everything is monitored by the government and it is impossible for bitcoin manipulation because it is a decentralized system, in addition to the transaction is not taxed or disclosed personal information, it can lead to money laundering actions, which can damage the country's exchange rate ... so accepting cryptocurrencies is not yet possible, but I believe that in the near future the government will see how big the benefits of cryptocurrencies are and maybe they will amend laws to make cryptocurrencies legal.
Let's also remember that governments are just there to protect all of us, it is not because they are too greedy that they can't control it so they can't regulate it, but they just wanted to protect those people especially who has lack of knowledge in investing, as we all know it is very hard to accused scammers and file a case to them, so let's just understand them in a positive way.
The government's job is to control everything in your country, they don't like the uncontrollable things, from the internet or the banking system, everything is monitored by the government and it is impossible for bitcoin manipulation because it is a decentralized system, in addition to the transaction is not taxed or disclosed personal information, it can lead to money laundering actions, which can damage the country's exchange rate ... so accepting cryptocurrencies is not yet possible, but I believe that in the near future the government will see how big the benefits of cryptocurrencies are and maybe they will amend laws to make cryptocurrencies legal.
Let's also remember that governments are just there to protect all of us, it is not because they are too greedy that they can't control it so they can't regulate it, but they just wanted to protect those people especially who has lack of knowledge in investing, as we all know it is very hard to accused scammers and file a case to them, so let's just understand them in a positive way.
Jump to: