Why Government does not like crypto? - page 31.

anatolij.shishkin

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Quote from: ayesha703 on August 21, 2018, 02:13:48 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?

Because the government does not like hidden transactions. They do not like when people do not pay taxes. Also, most countries believe that fraudsters and other groups of individuals need cryptocurrency.

vanya.pronin.1983

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Because the idea of decentralised society is against the core principles of governments of today. With a decentralised banking system, they would not be able to earn so much money for themselves and this is only one aspect.

randyg29

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http://www.daxico.com/

I think government don't like Crypto because they don't have the license to control it, but as I some country has the opportunity to work with Cryptocurrency just like here in my country because most of the establishments here are really looking forward to use a online currency payments. And I think it would be more helpful to Crypto to get in touch with the government here in our country.

elite070

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www.codex.one

Quote from: ayesha703 on August 21, 2018, 02:13:48 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 guess too soon, government will going to adopt the cryptocurrency and the technology behind it which is block chain. One reason that I see is the implementation of the voting system powered by block chain that may really improve the government election.

Luke NY

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EndChain - Complete Logistical Solution

The government does not like the crypt due to the fact that it can not manage it, with this type of earnings you can avoid taxes and get a good income. He is frightened by the fact that this kind of currency can eventually replace real money.

Bacioba

newbie

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Some have made it know that they are are trying to protect their citizens from scam activities, because it is beginning to become rampant. Then none of them will say this, but it is true that, because it is decentralized, they cannot control it and particularly because of tax evasion.

drrekkty

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Government doesn't like crypto because crypto is something what can damage government centralized system. At the same time there are talks about crypto on top level,like G20

mulia sabee

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Quote from: ayesha703 on August 21, 2018, 02:13:48 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?

the reason the government does not accept digital currency is because of several factors.
1. The government itself does not understand and does not have knowledge about the digital currency.
2. their fear of digital currencies, their fears that one day digital currencies will replace fiat currencies in transactions made by the public.
3. because money laundering can be done

KolayZdun

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”Decentralized Digital Billboards”

Cryptocurrencies are considered as an element of anarchy and permissiveness. The state does not like people and systems, control over which is impossible, which is why they do not like cryptocurrency and everything connected with it.

gegewojinnian18

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The government certainly does not like cryptocurrencies. At least the current cryptocurrency government will not like it. There are too many scams to be supervised. A fatal bug is the best reason for cryptocurrencies being rejected by the government. But in the future, the cryptocurrency market will be more perfect. The government will also accept cryptocurrencies.

masterfu678

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www.becent.com

The desire of the state to control everything is quite clear to me, but their inability to come up with ways and mechanisms to regulate the crypto market is purely their problem, so their anger and hatred is unclear to me.

cola-jere

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Quote from: ayesha703 on August 21, 2018, 02:13:48 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?

Fiat or government backed currency is a major form of control to control their people.
Decentralized currency like crypto will make them lose control of their population and they wouldn't be able to keep track who has a lot of cryptocurrency for taxation purposes since it not directly tied to the person.

Ezenwanyi1

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Veil

There seems to be many reasons why government do not like Crypto....In my opinion, I think they are.... Because they are not able to assert full control over Cryptocurrency.
They feel Cryptocurrency is competing with banks.
They feel there are grey areas that makes it easy for people to carry out criminal acts with Cryptocurrency untracked.

MR_Klip

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This is not part of their powers, and even if they want to somehow influence it, it will turn out pretty bad and ordinary, which is why the easiest way for the state is simply to limit people's access to this kind of asset.

iconoclast

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Matrix Built On An Ethereum Smart Contract

The real reason that Governments hate cryptocurrency is it challenges their monopoly on the issuance of currency. You have to understand that Governments borrow money to meet current spending and then use inflation to diminish the value of the debt they must repay. Non-inflationary cryptocurrencies are a threat to that.

princeyeboah

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Although the governments claim crypto is used for money laundering, drug trafficking, terrorism funding etc, it has now come to light that governments have ulterior motive behind the hatred for crypto. This is because the governments intend to gain power over every aspect of the economy and the lives of the people through centralization but crypto does not allow this because it is decentralized (takes the financial and its transaction power back to the people).

Enzo05

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Because in some ways cryptocurrency can destroy them . First they are not regulating any rules for it or what I mean they are not in control of it , Second it doesn't pay them any form of taxes .

crypt0.r3negades

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► Democratize Crypto Advertising & Marketin

I think government does not like crypto because they can't get a dividend to their sales. Not like physical business establishments that they can ask for tax. But with cryptocurrency any members on it can avoid tax due to most coins are anonymous.

xiboothrezi

sr. member

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The real reason is that the government wants to limit the negative impact of cryptocurrency. Most governments forbid it because there is no formal basis, and no authority regulates it. So it is feared to be misused as an illegal activity.

nityans

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Quote from: ayesha703 on August 21, 2018, 02:13:48 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?

In fact, many people are unaware of cryptocurrencies or are suspicious of the existence of the cryptocurrency industry - as a fraud. The crypto-currency industry has appeared relatively recently, and as something new causes attention and suspicion in society. In the same way, some governments took the example of countries positively seeing the new model of economic development in the crypto-currency industry, and there are also countries that are skeptical about progress. Time will put everything in its place...

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