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Author Topic: War on cryptocurrency!  (Read 1532 times)
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July 12, 2018, 10:26:35 AM
 #501

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

They are afraid of competition from the crypt, because they know they can lose.

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July 12, 2018, 10:57:57 AM
 #502

because they believe that this threatens their economy and their monetary system as a whole, because it is possible to bypass the taxes and much more with the help of the crypto currency.

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July 12, 2018, 11:01:31 AM
 #503

Until today, governments around the world are mostly too big. Being big costs a lot of money, which answers the question of the purpose of taxation.

Taxation comes in many forms and sizes -

VAT/GST aka Consumption Tax
Income Taxes
Other forms of Taxes

They all function by means of taxing after the "transaction" has occured. Since Cryptocurrencies cannot be tracked so easily, this makes taxation almost impossible to police. Thus, the war on cryptocurrency is REAL, but the future is somewhere in between - where Governments and Crypto adopters adopt the middle ground.
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July 12, 2018, 11:21:16 AM
 #504

Cryptocurrencies are in the grey area in most places. The rules are not set yet clearly. But the influance is getting bigger, and bigger. So it is understandable, why they are against crypto.

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July 12, 2018, 06:12:12 PM
 #505

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?
As for the war, this, of course, is said very loudly. However, we see strong opposition to the legalization of the crypto currency from various states. States do not benefit from the use of decentralized types of crypto-currency. They can not control them sufficiently, and not every country will decide to admit uncontrolled circulation of a digital currency of such a high value on its territory. In addition to this, the high, bitcoin volatility is simply frightening. Therefore, some states try not to notice the crypto currency or simply can not decide how to treat it. At the same time, they see that many industrialized countries are taking bitcoin and other crypto currencies and this keeps them from openly opposing it. Therefore many have occupied while waiting for a position. Forbid the crypto currency while states are basically with an authoritarian form of government.

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July 12, 2018, 06:34:16 PM
 #506

Governments are not the enemy for crypto but the banks and financial institutions are mis guiding the government agencies with wrong information about crypto currencies and makes the government to take tough stand on crypto. The other factor for governments to oppose crypto is the wrong thoughts about crypto and don't have much knowledge about the block chain technology.

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July 14, 2018, 07:41:32 AM
 #507

Governments can not realy handle this all crypto situation, and often, do not even understand I guess. But this is exactly the reason, why they don't do any regulation, so the war is not everywhere yet, I guess.

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July 14, 2018, 11:04:29 AM
 #508

Governments are not the enemy for crypto but the banks and financial institutions are mis guiding the government agencies with wrong information about crypto currencies and makes the government to take tough stand on crypto. The other factor for governments to oppose crypto is the wrong thoughts about crypto and don't have much knowledge about the block chain technology.
They are the same because they both rely on one thing and that is government. If the government made cryptocurrency as a legal currency then the bank and the other financial institutions will not have any choice but to accept it to and adapt the change that they will experience in the future. That is how the system of a country works.

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July 17, 2018, 05:21:02 AM
 #509

Governments of many countries are practically declaring war on cryptocurrencies.
Why is that?
I think that people are usually afraid of those things that they do not understand, and our American people are too lazy to get deep into Bitcoin, so if the government would studying the opportunities and make a user's of them...
the government wants to totally control the money in circulation of this crypto market. the amount of money in circulation is huge, and with the anonymous nature of this market they are worried that any criminal proceeds are included here.
As it has spread in many countries and those countries which were against it have realized that it is in benefit if we allow the use of cryptocurrencies and legalize.

Modernism of business market is the attraction of everyone in this world and they want to get it now due to its easy availability and handling to make huge amount or profit so they all are running towards cryptocurrencies and especially towards the Bitcoin.


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jcarlo
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July 17, 2018, 07:07:16 AM
 #510

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

They are afraid of competition from the crypt, because they know they can lose.

In my opinion, government declaring war on cryptocurrency because they afraid can not track illegal transaction. Many government think cryptocurrency always used for criminal activity but acctually its not true. Cryptocurrency is just a tool and its depending on user if used for criminal action.
Beside that reason, government afraid on cryptocurrency because they can not control the supply and maybe because they dont understand the concept of cryptocurrency

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July 17, 2018, 07:30:32 AM
 #511

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

They are afraid of competition from the crypt, because they know they can lose.

In my opinion, government declaring war on cryptocurrency because they afraid can not track illegal transaction. Many government think cryptocurrency always used for criminal activity but acctually its not true. Cryptocurrency is just a tool and its depending on user if used for criminal action.
Beside that reason, government afraid on cryptocurrency because they can not control the supply and maybe because they dont understand the concept of cryptocurrency

Yes , that is one of the reason . Illegal transaction is mostly in crypto and uses to buy anything and transaction all over the world . I heard some news about the illegal activity using cryptocurrency and i think every goventment warn about this . Yes some government didn`t know about cryptocurrency and uses of this but we dont know someday crypto are accepted in all over the world. Everything can happen just wait and see.

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July 17, 2018, 07:30:59 AM
 #512

The answer is simple, they can not benefit from cryptocurrencies, can not steal it, can not realy put tax on it yet because of the lack of regulation. So of course they are against.

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July 17, 2018, 07:36:53 AM
 #513

For one thing, crypto currency is young and regulations hasn't been in place yet so it would be kind of not safe for their people. It could also be used for illegal activities like money laundering. Lastly, it could threaten FIAT but let's get serious, Fiat has been there for eons and i doubt crypto currency could totally eradicate it.

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July 17, 2018, 07:37:35 AM
 #514

maybe the government does not want cryptocurrency to circulate because with the circulation of cryptocurrency then the price of cryptocurrency will increase and I am sure there will be many who use it.

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Today at 05:54:01 AM
 #515

Governments are concerned about crypto’s influence on economics and it’s expectable and understandable.
Not just the effect on the economy alone. It is about so many other things as well that is why some countries have banned it. Bitcoin is one great source to transfer money without documentation and this can be used by criminals to boom their business.

Besides, some people simply invest their little savings in crypto just to earn but loose instead. This is what the government does not wants for their people and have banned the technology.

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Today at 07:29:04 AM
 #516

Governments are concerned about crypto’s influence on economics and it’s expectable and understandable.
Not just the effect on the economy alone. It is about so many other things as well that is why some countries have banned it. Bitcoin is one great source to transfer money without documentation and this can be used by criminals to boom their business.

Besides, some people simply invest their little savings in crypto just to earn but loose instead. This is what the government does not wants for their people and have banned the technology.
Exactly. You're right. It will have two good sides and vice versa. The good thing is that it helps the national economy to develop in all aspects. On the other hand, many individuals and organizations have taken advantage of illegal money laundering. General impact on the market. There are many other reasons we do not know yet. In my opinion, it must be healthy, in every market. New market is good.

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Today at 09:47:59 AM
 #517

'The war on cryptocurrency' is really the same thing in a different context. I
am actually surprised that it has taken the controllers this long to go public
with their fear mongering about how "we need to control the cryptocurrencies
to stop money laundering", as if the state, and the moneyed interests behind
them are not the ones responsible for the majority of the money laundering.
This is naked suppression of the competition, in the form of the federal
reserve note.

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