Why should governments accept Crypto currencies?

drachman

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Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

To me this has to do more with their bosses, some of the most powerful men around the world, which tells them what they need to do, and it is clear they see something like bitcoin that will completely change the way the economy works as something that is not favourable to them and they will not accept it regardless of the benefits politicians could get to themselves.

ETHICKNINE

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Governments should accept bitcoin and crypto due to there potential qualities and the good they can do to local businesses by improving there processes but some governments and people say corrupt politicians and other criminals use crypto or bitcoin to hide there income and black money but there is no solid evidence to believe such accusations are true and also if majority of corrupt politicians and criminals has already hide there money in bitcoin and crypto do you believe that this huge price drop can occur because we know much big money criminals earn from there dirty work so with that kind of money flow how can bitcoin or crypto price keeps decreasing so I think such accusations are meaningless and negligible

Siren

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Quote from: Pyr3x on January 16, 2019, 08:19:00 AM

I think the main reason why the government is against accepting bitcoin is that it is impossible to control it. The authorities cannot afford to have no control over the money. Therefore, they are so against cryptocurrency.

If they Dont have control over money then why bankd is controlled by the governments?government dont want bitcoin fo now because they still blind on what this can bring for them but in sooner time they will realized the things they missed and might find the goodnes from the best technology ever created

jakezyrus

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why they should ? no . its really not necesary to accept crypto becuase we can still live properly with or without them . a government will only accept crypto if they arent afraid about the risk but aside from potential risk , crypto can also bring alot of benefits to its users . i guess that the maine reason on why some governments are willing to accept crypto even if they cant fully control it .

Distinctin

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No dream is too big and no dreamer is too small

Quote from: Pyr3x on January 16, 2019, 08:19:00 AM

I think the main reason why the government is against accepting bitcoin is that it is impossible to control it. The authorities cannot afford to have no control over the money. Therefore, they are so against cryptocurrency.

It might be, and it also one factor is that crypto currency never give assurance to the people and they feels anytime it gone forever. They'll afraid that could lead into money laundering due to its anonymity of any crypto holder and it is already used for some illegal activities in some countries. They can't trace them and there could made them hard to solve the problem. But when it finally regulated by the government, there might be a huge change in the market most specially for the individuals identification.

Pyr3x

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I think the main reason why the government is against accepting bitcoin is that it is impossible to control it. The authorities cannot afford to have no control over the money. Therefore, they are so against cryptocurrency.

karloscimot

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Quote from: Red-Apple on October 12, 2018, 06:53:05 AM

when you control banks and all the transactions it is not hard for you to hide the corruption either. so you wouldn't need anything else but the same system that is already corrupt itself.

additionally bitcoin leaves the worse trail behind because it is visible to public whereas a trail in banks is only visible to the bank and internal affairs not to the public! and even if it leaks some day they can simply put it down by calling it conspiracy or something like that.

if you want the world without corruption, all countries should start using crypto currencies, because with a decentralized system all suspicious transactions can be detected by law enforcement.
but crypto also provides a lot of convenience for business people between countries, because with a single currency there will be no more inflation which is usually always a frightening threat to export and import actors.
all countries should realize the extraordinary potential offered by bitcoin and the government wants to facilitate bitcoin users in their countries.

Koenraad Lange

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Quote from: ansarose1 on November 12, 2018, 11:10:14 AM

This post is good and make sense. Bitcoin must be accepted by the government since it is use as business and investments, i think there is none other than that. I think there is no negative side for the government to use bitcoin aside from the fraud people that are trying to steal, scam, and hack.

I think there is no obligation for the government to accept bitcoin as a payment tool in the country. This is evident in many countries that bitcoin is prohibited. The main problem is that Bitcoin is allegedly a place for laundering money from crime. Even though on the other hand bitcoin has added value for the government of a country if it is willing to legalize bitcoin, among others, increased investment transactions in the field of digital finance, suppressing inflation due to the strengthening of the USD currency, etc.

Dhaniii

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https://i.imgur.com/hgxNNiA.png

Quote from: Ronaldcoin2017 on November 12, 2018, 01:16:18 AM

Quote from: thenameisjay on November 11, 2018, 10:04:07 PM

Quote from: Kakmakr on October 12, 2018, 05:21:32 AM

We are led to believe that almost all governments are corrupt and that most officials and even leaders of the world are bought.

We saw this for instance with the US elections where rumours are doing the rounds that massive amounts of money were channelled from foreign countries to influence the outcome of the election. This money had to be laundered through shell companies via Banks and complex money laundering systems.

All of this leaves paper trails and this can later be followed and investigated to find the true origin of this money.

Now think about this, why would "corrupt" governments want to appose Bitcoin and Crypto currencies, if they can use it to hide their "corrupt" practices? Would it not make sense just to allow it and then use it to further their political aspirations?

The push back from these corrupt governments does not make any sense. Could it be that they know that Bitcoin and Crypto currencies are not "anonymous" at all and that these transactions can be traced and for this reason they are apposed to it?

Curious to know what you are thinking. Wink

I think the government should start accepting bitcoins and other cryptocurrencies because they are pretty helpful when it comes to transferring money from one person to another. The only problem I see why the government didn't gave cryptocurrency a greenlight is that people can use it to launder money.

Well i agree on that, blockchain technology is quit amazing it is really simple to use and it can really help is to some government transaction or payment it can also maybe help to preveent government corfuption and tax stealling the amazing blockchain technology is slowly developing and maybe in the near future it will become more helpful to us.

I think not only that (for money laundering), the government thinks too much negatively about cryptocurrency rather than thinking positively. even though there are many benefits of cryptocurrency, such as for investment, it can also help to improve the economy of the community. indeed the government should begin to accept cryptocurrency. this new technology is very useful for us.

markzuk007

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Because it is safest palce to invest.

Kez1817

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www.cd3d.app

Nowadays,we are using modern and advance technology and there are so many jobs online that can apply. Also young people now are familliar and knowledgeable in terms of high technology that we use. So,government should accept cryptocurrency for the sake pf many people and to minimized poverty in every country. Cryptocurrency are helpful not only to our fellow countrymen but also those people all over the world. The problem is that government against crypto and can't accept it because of being decentralized of it.

Sam San

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Quote from: ansarose1 on November 12, 2018, 11:10:14 AM

This post is good and make sense. Bitcoin must be accepted by the government since it is use as business and investments, i think there is none other than that. I think there is no negative side for the government to use bitcoin aside from the fraud people that are trying to steal, scam, and hack.

the government is not very concerned when Fiat is used by scammers. and all of a sudden concerned about the cryptocurrency. most likely, they are concerned about decentralization and will use centralized cryptocurrencies.

willwin66

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Governments should know what is good for their country, they need a macro view rather than just focus on their shortcomings.

Alpha-X_Official

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Unlike other storage tools like gold or silver, bitcoin can be short-term slave storage tool, because if one day the price goes up suddenly you can earn a profit.

Royline

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Gradually, big corporations around the world have applied their cypress production practices, demonstrating their growing role.

Omparkash72

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Yes this is right and many government start thinking to accept crypto currency, the reason behind this is the cost on paper currency is much higher and the second thought is security.the technology of Bitcoin is more secure and decentralised and any transaction on this Blockchain you cannot erase that transaction.No third party involment is there in crypto currency transaction.

SimonJones

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Quote from: PsylockReborn on October 12, 2018, 07:06:19 AM

Government is not against crypto if they can regulate it. They need to get taxes from people hiding their wealth in crypto. The reason why bitcoin was created is to let go from a corrupt centralized system and yet, almost all of the exchanges are already regulated by the government and even crypto holders are being taxed.

When it comes to the government laundering money using crypto that would be a risk for them since blockchain technology is made public and everyone can view transactions being made.

Sometimes people can't accept changes in technology that can possibly ruin their ways of stealing money from the people. Grin

You got the perfect answer.

Johnzky

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Well there are really a humor about the transferring of money from russia to the US election and that breaks many american heart knowing about that
And even in asia lots of issues are being pointed out in legality about this lots of corruptions,believe that governments will never accept bitcoin unless they have the guts to stop this illegal activities and willing to clear up their governance

akshayp

newbie

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Good question... Every government should think about cryptocurrency. The biggest advantage of cryptocurrency for government is Security. The technology used in the cryptocurrency is highly secured and decentralized. There is no involvement of any third party or central authority. So, ultimately trust factor of government over the citizen of the country will increase. That centralization could provide governments with some world-changing capabilities. The government spends lots of money on security and privacy that money would be saved.

mornabo

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Quote from: Sam San on November 12, 2018, 10:39:21 PM

any government should be interested in the development of new technologies and participation in the global division of labour. in the global world, the government is concerned about the competitiveness of the country and its producers.

but it does not mean a necessity to accept and legalize crypto if it is concerned only with the development of new technology?
even the government can make more sophisticated technology with fiat to create a new digital currency,
need a reason that is more urgent to make the government want to legalize crypto

Topic: Why should governments accept Crypto currencies? (Read 27939 times)