War on cryptocurrency!

[mikan111]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

[1715181946]

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[1715181946]

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[1715181946]

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[1715181946]

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[francojon]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

That is a bit of an overstatement I would say. Governments are concerned about taxes and politicians are going to take advantage of the banks and industries to control this new market. The war will be on the communities.

[aardvark15]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

Governments don’t understand Bitcoin and want to control it. It is true that Bitcoin and other cryptocurrencies will be disruptive to banking as we know it. This makes them want to hold Bitcoin back. Governments also want to make sure they get their taxes from us as well.

[IvyAguas]

Government of other country declaring war against cryptocurrencies simply because they cannot control it, and they cannot collect taxes on cryptocurrencies

[Fatmoo]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

That is a bit of an overstatement I would say. Governments are concerned about taxes and politicians are going to take advantage of the banks and industries to control this new market. The war will be on the communities.

I agree. Governments want to put a tax on every transaction from crypto to fiat currency. Without tax it's illegal to them.
When they start taxing it for sure banks will be afraid that crypto will eventually replace fiat currency. But i think that's not gonna happen. They can only put tax in a purpose of easier transaction.

[Wallflower28]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

Is it like war on drugs? I think you are too much exaggerated. Well, some governments are just banning bitcoin but they are not declaring war on it.

[yepaiyique2]

One concept is called Seigniorage Revenue. The meaning of seigniorage is the difference between the cost of minting money and its face value. In the age of paper money, the cost of printing money was negligible, and the government had a monopoly on printing money, so it was able to get all the seigniorage. It is unthinkable that the government should give up the revenue and the virtual currency such as bitcoin. In fact, no government has any reason to let that happen.

[amishmanish]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

This "War on bitcoin" has been an ongoing phenomena for quite sometime. China did the "ban bitcoin" step in September last year and resulted in a lot of cheap BTC buy-ins.
This time around maybe the same or maybe different. What doesn't change is that you only buy more if you understand and believe in cryptos. Governments act against them because they see it as forming a potential channel of capital transfers that it cannot control. So they put out warnings and regulations. The whole scenario is still evolving but considering the potential of blockchain technologies and cryptos, a blanket ban would neither be possible, not beneficial to even the governement.
Take it in your stride.

If you are worried about your investment in bitcoin then you don't have to, given that you only invested what you can afford to lose.

[bizul]

Don't worry. Technologies evolve and now, there are already some established altcoins that provide privacy and anonymity, which by itself makes the traffic unidentifiable. If transaction traffic and data cannot be identified, it cannot be regulated or controlled.

I think bitcoin power is already over by now as its technologies are outdated and doesn't provide privacy to protect you. Also, you can't rely on public exchanges because they can be regulated. I recommend you do some research. Look into decentralized exchanges (such as bisq) and look for some crypto-currencies that provide true privacy. 2018 is the year of privacy and the public is already shifting towards that. I don't like to recommend coins but Monero is the standard and it is time to buy as prices are down also. Dash, ZCash, Verge are also private but do your research as Dash is not truly decentralized.

[shahani]

Talking about  war, it is a opposite side of power, if we site example which of two are more powerful bitcoin or government? Maybe our direct answer is government. But i am doubt why government against bitcoin and declare war? Supposed to be bitcoin is better and help different countries in terms of financial support to their people living. If i am the government leader, i will allow and endorse bitcoin in my country.

[MarkJubleg]

because in the crypto community is decentralized and no one controls like the dollar that most of the price is determined by the bank, the competition is getting bigger, anyone can dabble

[NightCloudz07]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

because they don't want to loose their country industry and also they don't want to beat their own currency thats why they war in all of crypto currency like bitcoin.

[CryptoBry]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

This is actually just making things so big of an issue. Honestly, governments and cryptocurrency should not be sleeping in one bed because the latter is made to disrupt the former. Now, having said that, we have no choice but to deal with reality and that reality is that the power to enact, ban, open, kill, or whatever they wanted to is still residing with the government. Cryptocurrency is something new and a great disruption to the traditional finance set-up hence many governments are concerned and alarmed...banning can be an easy way out just like what China did but there are also some countries which understand the value of this new industry and so they embrace this new innovation with gusto.

So is there a war between the two? I would say that there can be some misunderstanding...and I am hoping that a time will come when both forces can set down, smile at each other and appreciate what they can be bringing into the table for the benefits of the many.

[AmazingDynamo]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

because they don't want to loose their country industry and also they don't want to beat their own currency thats why they war in all of crypto currency like bitcoin.

I think it is the major factor that is why people banning specially the government is banning bitcoin , i think the main factor is that it can be used for major fraud or anything that their officials can hide their money thru bitcoin or crypto with the there is no trace if it happens.

[Nhebu]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

If ever bitcoin will declare a war against cryptocurrency it is because cryptocurrency is a great enemy of government. I believe that they will not control people if cryptocurrency will dominate the world.

[Flomo]

calling for no law or regulation to save the crypto, in return for the benefit of the state. so that between the state and crypto can coexist develop the economy.

[hualangktsld841]

This is what is happening. It is believed that some countries are concerned about the rapid development of bitcoin. It's hard for the government to levy a tax on the bitcoin, if people do not trade. In addition, the government is also concerned that bitcoin will weaken the legal tender voice. In the past year, we can all feel in the speeches of many national governments.

[VovkashotDD]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

I think it's important for them to have profit from this and at the same time that it does not violate the balance in the state. But with the appearance of crypto-currencies and their settlement as for me it will hit hard on the banking system, that's why everyone is still afraid.

[batang_bitcoin]

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?

What can we expect from the centralized government that doesn't want decentralized crypto? They are well aware of what crypto's can do to the economy and as early as it is now they are recognizing the power of what crypto's can do. They are trying their best to regulate or ban bitcoin/crypto to avoid future conflict when it comes to their interest even the convenience of the people investing there will be sacrificed. And there are few countries that even started their very own crypto but its a failure.

[wuhanyan21]

Nothing new, just governments trying to rake in more money. Happened many times before.