Let's Keep It Crypto

[entrepmind23]

Governments and banks want different blockchains. Blockchains that'd make Orwell cry in a corner. Sure we'll get government issues cryptocurrencies: CRYPTOFIAT. All your transactions will be traced, monitored and taxed automatically.

Of course, they'll make exceptions for certain individuals...

I think this would happen if the government see that more people are getting involved with cryptocurrency and in cooperation with banks, they would make a cryptofiat so that they can still track the transaction of the people and would still get their share through taxes. It would actually be much easier for them because all the data are online so there would be no need for them to ask the people to file their taxes because they know how much to collect and might even just send an e-mail to send this amount to that account to pay for taxes. All data are accessible. Compared to what is happening now wherein some people can get away with paying taxes because transactions are anonymous and cash is not easily traceable, cryptofiat would make the job of those in government more efficient.

[HaekalZ]

As much as I want to be a law abiding citizen, pay my taxes, support my nation, etc... I also want crytpocurrency to remain a lot like it is now.  Sure, I don't want to see Billion dollar digital heists but I also don't care to see banks call the shots on how cryptocurrency is perceived.

I guess when the red squiggly line under cryptocurrency goes away the party will truly be over.  For now, cryptocurrency still isn't even recognized as a word by chrome spellcheck.  I hope it stays that way forever.

Me too, cryptocurrency is a very great currency for any payment, i hope government will understand about that, not banning cryptocurrency, let's hope that all of country will allow us and legalize crypto

[beigai]

I highly doubt crypto will remain like an underground system forever. Sooner or later it will continue to grow big and governments are starting to notice. Possible regulations by more countries will really happen especially if scam projects continues.

Yes, I very much agree with you.
And I believe that the regulatory measures in many countries will soon come out. Otherwise, one day, they will use the cryptocurrency market to play a bad role. You will see that soon.

[drachman]

Governments and banks want different blockchains. Blockchains that'd make Orwell cry in a corner. Sure we'll get government issues cryptocurrencies: CRYPTOFIAT. All your transactions will be traced, monitored and taxed automatically.

Of course, they'll make exceptions for certain individuals...

yeah this is what scares me too. "fedcoin" will replace the fiat currency and they will track your purchases and keep people in their place. fortunately i think there's ways to make sure the gov doesn't know what you buy and such

A cryptocurrency created by a government will be terrible but I think people are exaggerating what they can accomplish, when you think about it those that know about cryptocurrencies like us are not going to use such coins we will avoid them and the general public is going to do the same since they are fine with their fiat so only a very low amount of people will use such coins.