Why Government does not like crypto? - page 46.

cryptoman1ac

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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?

Cryptocurrency is decentralized. No one controls it. There is no central office governing these currencies. Government can not impose tax with these currencies that is why they do not like the idea of it. Government projects were derived from community taxes, income tax, business tax, excise tax and other taxes so if the people continue to use cryptocurrencies instead of cash then there is no more taxes to collect which would result to government having no fundings for their projects.

Liklopor

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I believe that governments prohibit cryptocurrency because they can not control it and governments do not like the anonymity of transfers

Teraboy

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Quote from: BitSharke135 on October 25, 2018, 05:51:33 PM

People learning the world of Cryptocurrency strive to generate additional income. Bitcoin is very popular in today's world. Governments do not consist of creative people. Generally conservative people become politicians. They cannot follow development and have their bias against crypto money.

So many times they have said that crypto has a lot of possibility to disrupt their traditional economic system. In fact that so many governements have been warned their central banks to protect their financial system. They consider crypto as a threat. That's the main reason why governements wants to give a lot of restriction to the crypto.

Krismanto

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For the Government that this could give Cryptocurrency a negative impact. I take for example in my country that the Government is afraid of if Cryptocurrency was used for evil. The Government was afraid Cryptocurrency used for money laundering and terrorist funding.

BitSharke135

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People learning the world of Cryptocurrency strive to generate additional income. Bitcoin is very popular in today's world. Governments do not consist of creative people. Generally conservative people become politicians. They cannot follow development and have their bias against crypto money.

wewe123

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The government does not like cryptos because , it is an advance digital technogy and government cannot provide this electronic gadgets for public use, it is good for advanced countries where in the power supply and internet accessibility is always present, how about those third world countries which do not have , the government if they accept cryptocurrency ,they want full control over it , so there are many things to iron before this cryptocurrency will be implemented.

supahlovah

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Crytpo means freedom for many people and of course government doesn't like crypto - they can't control it and they see how much money they lose from their system everyday

mcnocon2

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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?

Because cryptocurrency being decentralized, the Government cannot control this things. And cryptocurrency is used in illegal transactions that's why Goverynment wants to ban cryptocurrency. And cryptocurrency transactions are very hard to trace if you don't have the knowledge on it. And the main thing why the Government keep banning cryptocurrency is because they cannot control the people If this will become the mainstream.

george_hured

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Most of the people today have already managed to understand what the problem is, but it’s just the people’s doubts, it seems to me that everything can change as soon as people from government bodies start to introduce the blockchain into their structures.

shadowduck

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One of the reasons for the ban is that the country can not control the cryptocurrency , which means they do not benefit from it.

denbagoes

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Many countries whose governments reject the existence of Cryptocurrency because Cryptocurrency is considered as a money that is prone to committing crimes.
The nature of Cryptocurrency is anonymous so many are worried if Cryptocurrency is used to commit money laundering for corruption, to buy illegal drugs.
I am sure if this is really just a fear from the government, because the actual use of Cryptocurrency can be traced to the usage and who uses it.

hanomnom

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Some countries are good about cryptocurrency and some see it as tool for dealing with crisis. Even US government has regognized crypto several weeks ago.

EducoinVietnam

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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?

Cryptocurreny currently helping the shadow economy to develop. As you know, level of shadow economy in developed countries is low and governments shoud keep it so.

tonbit1239

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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?

Being Decentralized, Government has no control over it. They can't dictate what it should be but they can regulate only. Good thing about cryptocurrency is basically its accessibility. You can transact even if your in another country without the interferance of your government. Ease of transaction, less fees and as being digital it won't be obsolete just like the fiat money. Everything is virtual, less expense for producing and having a supply.

Fadhil Pahlawadi

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the ban is like a strategy that others want us not to be at the most, while cryptocurrency never prohibits people involved in this bitcoin forum

siorapokk

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Because the crypto currencies will kill the whole system, that governments are building for years. The anonymity and the lack of the third party in payments sector make governments useless and they do not want to lose their money. Simple reason, long solution. And I hope they won't ban the crypto market.

dhiraj0977

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They never support crypto until they were meant for them. They consider crypto as ponzi scheme and main reason for them to not support is de-centerilization. Government cannot support anything which they cannot control.

cryptorima

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Government doesn't like cryptocurrency because of decentralization of crypto. Also because of uncontrollable transactions of bitcoin and others cryptocurrencies. Also they doesn't like crypto, Because of this many criminal acts are done.

BartS

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Quote from: crenfrosck on October 12, 2018, 05:57:26 PM

Well, the reason is simple: the state does not want to lose the monopoly for printing money. They can not tax these transactions, too. That is absolutely unacceptable for them and they are apparently going against cryptocurrencies (most of them, not every country). On the other hand, it does not mean blockchain tech and crypto are bad. Without many historical revolutions, we would be still under the king and being forced to fight with his neighbor. We would risk our lives and he would profit out of it if HE wins, not ordinary people. I hope blockchain is here to open people´s eyes and tell them: "There is the other way." This is will not lead to the era of crypto necessarily, but it will put up a question on the table and authorities have difficult times ahead of them. They need to see that people will not tolerate any kind of a corrupt system anymore and this would improve the economic situation drastically. If you have the free market, there is the world of endless possibilities. I would give it a try Wink

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While your theory about cryptocurrencies being an eye opener is great I am really expecting them to survive and to become successful, I say this because with all the new technology in place it is not going to take a lot of time for governments around the world to become dictatorial and we need something that allow us the stop or even reverse those developments and cryptocurrencies are going to be critical to stop that and if they fail I fear that there is not going to be any more time for a new technology to appear and protect us.

phuong0011

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Crypto currency is a way to make money only for ordinary people, but not for the government. if people have eager for crypto, it may give bad effects on government in terms of profit.

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