Why Government does not like crypto? - page 16.

Proc.dev

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Quote from: lllaqpt on February 13, 2019, 02:20:55 AM

Quote from: ayesha703 on August 21, 2018, 01:13:48 PM

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

I think everyone understood this when last year the long-term bear came. Due to the high volatility and instability.

Seriously? High volatility? Instability? Look at the yearly chart of Turkish lira, Argentine peso, Russian ruble or other EM currency. Government's fiat money has not less volatility.

lllaqpt

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Quote from: ayesha703 on August 21, 2018, 01:13:48 PM

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?

I think everyone understood this when last year the long-term bear came. Due to the high volatility and instability.

odukoyaewatomi27

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I think the main reason why most governments are not in support of cryptocurrency is because it's decentralized and they don't have the ability to manipulate or control it. They all feel it pose a threat to their national currency and in order to protect their currency they put a ban on it.
I feel regulations will be a way forward for cryptocurrency as it will make it accepted by most governments.

derlicious-

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Will you be ready if I ask you to give something you control? For example, will it be okay for you to make your thoughts transparent? Naturally not. The same thing happens with the government. They can't give away their control over the money, the country's financial system. Right now, they can print money whenever they want, cut supply, corrupt. Nobody knows anything. Cryptocurrencies are exactly the other way around. The monetary system is decentralized, transparent and deflationary. Sounds nice? Perhaps for us, but not for the government.

matricaria

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Perhaps government agencies are afraid of losing control over people. Cryptocurrency gives people freedom and independence from government bodies.

Correlll

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Because they need to face changes and they see that people like the idea of crypto currencies because they are sick of paying huge taxes for nothing. Crypto will become mass adopted and it will not depend from governments decision.

burky156

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I am aware that the goverments afraids of the cryptocurrency because they don't know how to act on this matter. Goverments not alone, bank with them and they are scaring together. But i am sure that they don't want to hurry and never want to make mistake about it. They are searching suitable solution for the cryptos and try to turn things to their advantage thats all.

jocker001

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Bitcoin - and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank. and government controls the banks .

Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly. now crypto currency is more secured than banks.thats why the banks and government does not like crypto currency.

karankamaze

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Quote from: odranoel on February 12, 2019, 11:50:18 AM

For me there are some Government who does not like crypto due to lack of knowledge and need thoroughly explanation about all the background of crypto and of course the outcome of it. But there are also some countries who accepted crypto.

it is impossible for the government not to know deeply about crypto because they are intelligent and have many advisors.
maybe the government doesn't like crypto because they think crypto is worse than good so they don't dare to take risks by legalizing crypto for their people.

Sova_tmb

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It's new tehnology and may be this is not beneficial , because thanks to the block chain and cryptocurrency, but I think sooner or later will legalize cryptocurrency in world.

OrangeII

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Quote from: odranoel on February 12, 2019, 11:50:18 AM

For me there are some Government who does not like crypto due to lack of knowledge and need thoroughly explanation about all the background of crypto and of course the outcome of it. But there are also some countries who accepted crypto.

in general, the development of cryptocurrency is indeed very good, but there are some regulations that do conflict with the government, and also cause this to conflict with fiat. because of that, sometimes crypto is always rejected by some governments. however, I think there are still many governments that see this as a very good development in the future, and try to develop it.

sertans

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Governments always need centralized financial solutions where they can easily control and manipulate. On the other hand in crypto world most of the solutions are decentralized and its not easy to find a good way for governmental taxes.

No Pain No blood

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Quote from: boris singer on February 09, 2019, 04:37:29 PM

there are some intentions from those who try to find a solution even though it is not possible, they do not question the flow of transaction funds because it is difficult to prevent, but extreme intentions arise that they try to apply the Kyc formula to the blockchain wallet.
I don't feel this can work, but in fact the main stigma is that they also respect crypto, far from being dislike that has become a widespread rumor.

yes you're right, the government just doesn't like crypto anonymity, the rest they think crypto is a technology that can be used for all fields.
implementing KYC seems to be a failure and I think they are looking for another solution that is more acceptable to everyone.

odranoel

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For me there are some Government who does not like crypto due to lack of knowledge and need thoroughly explanation about all the background of crypto and of course the outcome of it. But there are also some countries who accepted crypto.

Proc.dev

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Quote from: EL-NIDO on February 12, 2019, 04:28:13 AM

The government don’t like crypto because it is anonymous and they have no control. They prefer its own currency and also want to track the process of money transactions. And it is also difficult for them to collect taxes.

And how governments can track cash transactions and control them? Exactly total tracktion in Bitcoin and other top cryptocurrencies probably scary governments.

EL-NIDO

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The government don’t like crypto because it is anonymous and they have no control. They prefer its own currency and also want to track the process of money transactions. And it is also difficult for them to collect taxes.

newbie-hero

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Cryptocurrencies make people more independent. Through the blockchain anyone can transfer cryptocurrency anywhere without the permission of the authorities. Simply put this is what governments do not like mostly.

marksayson

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I think that government are not happy about cryptocurrency is because they have no power to regulate it, and they cannot get any potential tax for every transactions they make.

kiansantan

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Because crypto is considered to disrupt the economic stability of a country itself. Because of the overactive movement of volatility in the environment, it endangers the security of economic growth.

CapnBDL

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Quote from: bitelliotZOOM on February 09, 2019, 05:06:40 PM

Many countries have accepted bitcoin. I think that this trend will continue for several years. I believe that all countries will accept cryptocurrency in the near future.

Well, not exactly everything but many, and it's not just about Bitcoin, it seems to me that it is not as important as other projects. There are projects that are more needed, for example, Ethereum.

Topic: Why Government does not like crypto? - page 16. (Read 15138 times)