Why should governments accept Crypto currencies? - page 7.

wxa7115

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Bitcoin is GOD

Quote from: jozymens7 on October 27, 2018, 12:41:45 PM

The governments themselves knows that cryptocurrencies are going to be the future of the world because everyday people try to integrate it with something different and they dont want to accept. One thing they have to know is that, crypto is the future and the revolutionizer of the world and should be accepted.

Governments are not interested in the progress of humanity they only care about keeping their power and nothing more, it is obvious that something like cryptocurrencies are going to improve the life of people by giving them a better form of money that cannot be falsified and that cannot be taken away in any way or form, but that will also mean that the enormous control they have over the population will weaken and that is something they hate so they will oppose cryptocurrencies.

This creates a dilemma among people especially those that are very patriotic, do they support what it is best for the people in general or do they support their government? And many people will choose to support the people and not their governments.

saumang2m

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If the government accepts Bitcoin. So this will benefit both the government and the people. Because any country has accepted Bitcoin. The economies of those countries have grown stronger.

mithon2017

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Government should accept cryptocurrency.because it's has lots of advantages.Bitcoin is the best demanding cryptocurrency.Bitcoin can change our world economy only few seconds.it's has capability change our country Economy and it can get rid of unemployment problem. so every country should accept crypto currency and using its opportunities. I believe, in future Crypto currency will more useful and more popular

Sarastiche

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BITCOIN IS THE CURRENCY OF THE GLOBE

Government need to accept cryptocurrency in other to take advantage of tax deduction from the space and also to build trust in the space for investors, Government are against cryptocurrency as they are not in charge of the happening in the space, government will get involve when they can control and regulate the market trend and what goes on in the space.

DiabolicAnt

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They already have many ways to hide actions. The problems that may emerge in economics and society because of crypto are more important and significant.

tytanhamon04

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I think bitcoin has huge potential, but the government may be afraid to give it power because it sees it as a global threat. But I think it's inevitable ! There must be democracy in the world, and the man himself must make a decision ! I think that eventually the government decides to legalize it all over the world as something that can't be controlled, should be kept close, that was minimal to control it !

eashikde

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The main criterion in this matter is that either the government works or loses the income from the shadow business. Many transactions will pass by the state, despite the fact that this situation is very interesting for people who are engaged in illegal affairs. From here, think to yourself what is profitable.

Ghypatt

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You see, this can be a reason for governments to accept Btc but I do not think any government would want to accept Btc just on the grounds of this. After all, we are all aware the nature of transparency Btc presents too.

javadsalehi

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Quote from: nebiki on October 27, 2018, 01:56:57 PM

Quote from: EllenSmith on October 27, 2018, 12:42:51 AM

The government should accept the cryptocurrency as a legitimate payment, because the benefits it brings to the consumer are far greater than the losses that the government incurs. Government should sacrifice for the benefit of the community

it is very difficult if the cryptocurrency is authorized by the government as payment, we know that fiat currency is more trusted and has been used as payment and transaction since a long time ago. crypto nobody controls so it takes a very long time for all of that.

Do you know why fiat is trusted by people? It's only due to the government acceptance. Fiat money is only a paper which can easily printed. Cryptocurrencies are a better option. But it should be accepted by the community and governments.

Pan Troglodytes

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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

First of all I don't agree that there is a push back of crypto. Some governments accept its existence and make nice profit from this (from taxes or from confiscations, vide US or Bulgaria)

Then, I don't agree that bitcoin (pseudonymous not anonymous in its deepest nature) would allow to hide anything from public. Actually, it makes every financial operation transparent.

Lastly, the pseudonymous nature of bitcoin and inability of citizens to hide their transactions from government makes it ideal for governments. So again, we are back at sqare one - governments accept its existence, don't push it back.

Summing up, I don't agree with the OP on many levels

SoiledDove

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I think governments dread crypto currency because it curbs their power. And being able to control money is a huge power. If the government doesn't control money and business, what is left of it? Banks give governments power. Cryptocurrency takes it away.

nebiki

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Quote from: EllenSmith on October 27, 2018, 12:42:51 AM

The government should accept the cryptocurrency as a legitimate payment, because the benefits it brings to the consumer are far greater than the losses that the government incurs. Government should sacrifice for the benefit of the community

it is very difficult if the cryptocurrency is authorized by the government as payment, we know that fiat currency is more trusted and has been used as payment and transaction since a long time ago. crypto nobody controls so it takes a very long time for all of that.

thesmallgod

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I think the main reason why government is against crypto is because of it anonymity. Although to me crypto is not totally anonymous but it can be difficult and expensive to trace. In some countries such as England where the major source through which government generate revenue is through paying of tax. such country will never want to adopt crypto because it will be difficult to manage the tax system even though i still believe there are government inside a government that use crypto to steal money from the government Grin

abhi777

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Quote from: BennyK on October 23, 2018, 09:09:47 PM

Crypto is for the people and that is what the people want once they become familiar with the concept and benefits of cryptocurrencies. Also, cryptocurrencies generate more job opportunities within a country which eventually boost the economy of that country.

yes indeed we all crypto holders want all the governments to justify crypto as a medium but also to buy. if the government justifies crypto, it will be easier for us to invest without obstacles.

rikybrosh

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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

The current condition of economy system are good for those who have power(money). I don't think that all governments are bad people, I pretend that some of governments member are good people who trying to protect their citizens from those "big hands". World is played now, I realize it. There is some chance that government will accept bitcoin as those good people in government will still try to fight, it's not only for the case of bitcoin acceptance. Actually bitcoin can give tax income for countries which regulate it, in this case it is possible. This is the war of good and bad people in this world.

Allura74

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Quote from: Magkirap on October 31, 2018, 03:14:20 AM

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

The reasons why still government not allow or accept cryptocurrencies is they can't control or regulate because of its being decentralized. If the government wil allow cryptocurrencies many people will use it and the government will be have low funds because it is tax free.

Right mate, being decentralized its hard for them to control or even collect income tax for every individual gaining income from bitcoin. One thing I see why they are hesitant on bitcoin is because it makes people rich and can possibly affect the countries economic performance since it is usual that a rich people can buy many things and thus changing market supply and in effect the price of commodities will go higher and can make inflation go higher.

kojoannan

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Cryptocurrency acceptance is something that government is not going to implement now due to the fact that it can't monitor the transactions that goes on there neither is there a proper regulation in place to identity users.

boty

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maybe because the existence of cryptocurrency in your country and used for finance in the government will make your country more comfortable and certainly will make corruptors unable to move because finances have been recorded neatly and everyone can see all the transactions.

Magkirap

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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

The reasons why still government not allow or accept cryptocurrencies is they can't control or regulate because of its being decentralized. If the government wil allow cryptocurrencies many people will use it and the government will be have low funds because it is tax free.

jozymens7

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The governments themselves knows that cryptocurrencies are going to be the future of the world because everyday people try to integrate it with something different and they dont want to accept. One thing they have to know is that, crypto is the future and the revolutionizer of the world and should be accepted.

Topic: Why should governments accept Crypto currencies? - page 7. (Read 27939 times)