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Author Topic: Is it really bad that Goverments are trying to control Crypto-market?  (Read 172 times)
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February 22, 2018, 04:11:15 PM
 #21

I think the governments all over the world just wants to regulate the flow of their currencies. They just want to regulate cryptocurrencies to avoid incidents like money laundering and also people being scammed by illegal ICO's. They don't want to control the crypto-market, they just want to help us traders & miners to be more secured in our finances.
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February 22, 2018, 04:28:06 PM
 #22

Its difficult to forecast and plan economically if your not able to predict or have an idea of the factors that can spell disaster. Its difficult to design fiscal policies around a system that dosent go through the channels that they have policies to regulate and also to report  transactions above a certain threshold, for eighter tax purposes or just general government nose poking.for now bitcoin presents certain challenges as its that more difficult to track and maintain accurate records as to the volumes of currencies that are moving at any one point or even who is moving it for sure .bitcoins isn't untraceable ...people don't be fooled it is traceable however it will require more than the average investigation and analysis to do ....there are numerous cases of people being locked up for trading in bitcoins . its a terrifying scenario to be faced with if you are a financial minister as it could severely affect your country if millions of dollars are running through bitcoins and not through your regulated institutions , first thing is you loose all that tax income that would be going to your coffer, then you might find that there may be institutions closing resulting in increased unemployment so bitcoins is a real economic game changer , i might not agree with the steps some government have taken to ban bitcoins however to some extent i understand their fear. Solution...commission some sound financial thinkers to study bitcoins through and through and come up with a game plan to integrate it into the economical plans , because it can also bring serious economic growth and social development if its used properly.

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February 22, 2018, 06:44:16 PM
 #23

Governments and banks became too closely linked so now governments have a vested interest in making sure their banks make money. Cryptos are alternatives (better in every way too) to banks -> soooo makes sense that governments want to benefit the banks.

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February 22, 2018, 06:50:11 PM
 #24

While many might think it's bad, in actuality it's what governments are *supposed* to do. Thus I don't see what's so bad about them doing their job, as long as they make good decisions.



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Sony.UK
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February 22, 2018, 06:56:40 PM
 #25

So guyz,

I don't have a master in crypto But I have some doubts.

I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.

But my Qes is why a Govt should not try control money in that country?

----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.

----That was just one of the scenerio



So What are your thoughts?

PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?


Banks are competitors to crypto currencies as banks deal with only fiats. Governments only depend on fiats and banks. So obviously Government would support banks as of now. As crypto currencies are gaining values, especially bitcoin value has gone up and its the first currency which has the highest value ruling over fiats, banks have been so affected and the number of investors have moved towards crypto currencies. This has seriously affected banks causing many banks close themselves.

It would seriously take time for governments to completely accept bitcoin and other crypto currencies.

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February 22, 2018, 06:57:34 PM
 #26

The government in the future will do so to control every step of the crypto currency and will also introduce taxes in the future. It's just that freedom.

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February 22, 2018, 07:04:42 PM
 #27

goverments can't ban BTC or anycoin
Because Blockchain is decentralization
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February 22, 2018, 08:10:53 PM
 #28

Good for the government to adopt the blockchain technology. But my opinion is negative about governments trying to control the electronic money system. Politicians should expect investors to make free decisions. The referendum about Crypto money should be preferred.
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February 22, 2018, 08:27:53 PM
 #29

So guyz,

I don't have a master in crypto But I have some doubts.

I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.

But my Qes is why a Govt should not try control money in that country?

----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.

----That was just one of the scenerio



So What are your thoughts?

PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?


They can try and control the money in their country but what happens when citizens learn the truth of the money supply and learn the truth of the governments oppressive ways? That will not end well let me say.

1) Of course they don't know how crypto works, but banning something you don't understand how it works isn't correct, and in fact only stifles innovation further.
2) Of course they don't say that, because blockchain is literally the future and for them to say it is useless well you would look like a moron
3) This is the argument politicians would use, and man have they got you brainwashed. Ask yourself this, do we really need to survey the whole country when there are a handful of bad actors? Answer is nope, but they make you think yes.
4) Tracking is not impossible in crypto if you have enough resources and power you can find the source of the funds for sure, again this builds into point 3. They want you to think and believe they need access to everyone financials, when they don't need or deserve that access.

Government's are going wrong in their approach to crypto, they should try fostering innovation not stifling it. They should try working with people in crypto, not making them feel like criminals in the USA and most importantly they should understand the goddamn technology and stop using the phrase "Blockchain is good, but Bitcoin has not much use"

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February 22, 2018, 09:06:46 PM
 #30

So guyz,

I don't have a master in crypto But I have some doubts.

I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.

But my Qes is why a Govt should not try control money in that country?

----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.

----That was just one of the scenerio



So What are your thoughts?

PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?

Make no mistake governments are regulating cryptocurrencies because they want to keep their own interests they are not doing this to protect the population or to prevent crime, they get a lot of benefits by printing their own currency and they do not want to give up those benefits, that is why we do not like the regulation since it is done to hinder bitcoin and the population that could benefit from its usage.
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February 22, 2018, 09:20:13 PM
 #31

The point is that by now many Governments, especially in the West, don't control their own money any more, since it is now a private business of banks.
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Two people briefed on the investigation said that the accounts were set up at J.P. Morgan Chase and the Agricultural Bank of China. Neither bank returned requests for comment.
https://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?smid=tw-nytimes&_r=0
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February 22, 2018, 09:29:04 PM
 #32

in some ways yes but they can help us too if that time happen,The bad things that can happen in that time are we need to pay tax but still it's good also because if we have government here in crypto more of scam can go in low volume,I think also if we have regulator here it's so hard to trust someone by your money so the price of btc in that time can go really low.

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February 22, 2018, 09:41:01 PM
 #33

I really do understand where you are coming from man, I really do. Clearly, the guys in the government are good in taking advantage of this explanations since it can hide their true purposes for their actions. But even so, it is still pretty easy to see that there are somewhat hidden agendas behind their reasonings..

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March 13, 2018, 05:37:24 PM
 #34

I think the government of the whole country wants to maintain their currency. They think cryptocurrency is illegal. And others want to control the crypto market so that others may not be exposed to fraud. And it helps us to be more secure in funding.
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April 16, 2018, 03:11:13 PM
 #35

Some governments of the world  are supporting the use of cryptocurrencies and some are not all for the same reason. Bitcoin's high purchasing power. They either wanted to tap through this or they wanted to stop bitcoin. Either way, as long as bitcoin's decentralization is not jeopardized we have nothing to worry at all. Bitcoin don't care about any government nor anyone.

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May 03, 2018, 01:01:16 PM
 #36

Its bad, and actually they cant control it
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May 03, 2018, 02:58:18 PM
 #37

So guyz,

I don't have a master in crypto But I have some doubts.

I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.

But my Qes is why a Govt should not try control money in that country?

----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.

----That was just one of the scenerio



So What are your thoughts?

PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?

Every government has their on position and stand in each worldwide issues like cryptocurrency,some country says ,they wanna protect their people,some are for money laundering and criminalities and some are those who wants to take their piece of pizzas..but for me this is all for money and nothing more

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May 03, 2018, 04:37:09 PM
 #38

Regulation is really needed to make crypto more trusted by people and it's only government that can do that... It will also help is curbing those shit i c o that dont even have good use case....

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May 03, 2018, 04:40:27 PM
 #39

So guyz,

I don't have a master in crypto But I have some doubts.

I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.

But my Qes is why a Govt should not try control money in that country?

----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.

----That was just one of the scenerio



So What are your thoughts?

PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?


I think they have the freedom to know about the cryptomarket but not to the point that they will control it. It would be better if they would stay away from it and let cryptomarket do their thing unless this cryptomarket harms the citizen of the country... that would be impossible but if it harms then it will be the right thing to government to make their move and control the cryptomarket.

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June 13, 2018, 09:07:44 AM
 #40

perhaps the crux of the conclusion of all that is that the country that forbade this cryptocurrency get ready will be a country left behind by the times of the digital currency.

the country that is ready with cryptocurrency is a country that does not want to miss the progress of technology. Because the future needs a simple and fast currency for transactions, such as Bitcoin.
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