Why GOV is not supporting the CRYPTOCURRENCY LIKE OTHER NEW TECHNOLOGY???

[RAMSHIVDEEPAK]

I am thinking this from long time.what is the problem with this.it has lot of benefit like instant transfer any where in the world,less transaction fee,no need to exchange,ONE CURRENCY ONE WOLD.

Then I came to conclusion that this is all because of control.If gov support the cryptocurrency then he loose the control from monetary policy.it can toppel the gov,BECAUSE money is ultimate control of the politics.


this is my opinion ,Am I right or there is any other reason??

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[Xester]

I am thinking this from long time.what is the problem with this.it has lot of benefit like instant transfer any where in the world,less transaction fee,no need to exchange,ONE CURRENCY ONE WOLD.

Then I came to conclusion that this is all because of control.If gov support the cryptocurrency then he loose the control from monetary policy.it can toppel the gov,BECAUSE money is ultimate control of the politics.


this is my opinion ,Am I right or there is any other reason??

That is the main reason why some the government does not allow cryptocurrency in their political jurisdiction. Accepting cryptocurrency is not a simple matter since there may be negative impacts on the society especially on financial sector and the economy. Another thing is that cryptocurrency enables a person to be anonymous hence it may be prone to be used by criminals and can be a tool for money laundering.  But some countries have accepted bitcoin and cryptocurrency after a thorough study and after establishing some regulations to protect the investors and the economy of the country.

[Asyifiah]

digital asset cryptocurrency can be Transfer fast and cheap even between countries.
very significant price fluctuations in a short time.
the government can not control the price movement.

[Herbert2020]

the most important keyword here is some governments.
and also you are forgetting that a real cryptocurrency like bitcoin doesn't need the support of any government to succeed. what bitcoin needs is people which are peers on this peer to peer network since it is decentralized. and unfortunately last year brought in more investors instead of users and investors are known to run away at first sight of FUD.
the government is doing their thing and most of them have no problem with bitcoin so far, they however have problems with illegal activities that are happening in cryptocurrency space like all the scams that ethereum platform has made easy for ICO scammers.

[GoodBrother]

I am thinking this from long time.what is the problem with this.it has lot of benefit like instant transfer any where in the world,less transaction fee,no need to exchange,ONE CURRENCY ONE WOLD.

Then I came to conclusion that this is all because of control.If gov support the cryptocurrency then he loose the control from monetary policy.it can toppel the gov,BECAUSE money is ultimate control of the politics.


this is my opinion ,Am I right or there is any other reason??

I partially agree with you. State financial regulators of various countries are looking for ways to integrate the cryptocurrency economy into the financial system.  It's necessary both for the purpose of establishing control, and to obtain the tax return from the turnover of the cryptocurrency. However, these processes complicate, as cryptocurrency, and a lot of financial governments opinions  on the situation development.

[macchiato]

Because they are not in control. Blockchain is mostly used in transactions that involve cryptocurrency. It could be good for data management and can be adopted by the government only if they can control it. But it's feature includes anonymity so the government won't be able to trace transactions. That encourages criminal minds to make illegal transactions and money laundering. This is probably why the government does not want to support cryptos.

[cho99]

I think that governments are not supporting bitcoin and cryptocurrency just because those governments are controlled by banks . Everybody knows that banks like Goldman Sachs or Morgan's are the most powerful not only in the US but in the world and they are controlling a lot of governments so for them cryptocurrencies represent a big threat to their business and that's why they are pushing hard fighting against cryptocurrencies . Anyway they will not succeed in that mission because crypto world has become big and they could do nothing about it .

[spadormie]

One word, volatility. That's the best word to describe why the government is not supporting the newly developed technology that is running by experts this time around. It's so sad for them not to see the use of our cryptocurrency.

[zhekinsp]

I am thinking this from long time.what is the problem with this.it has lot of benefit like instant transfer any where in the world,less transaction fee,no need to exchange,ONE CURRENCY ONE WOLD.

Then I came to conclusion that this is all because of control.If gov support the cryptocurrency then he loose the control from monetary policy.it can toppel the gov,BECAUSE money is ultimate control of the politics.


this is my opinion ,Am I right or there is any other reason??

If one world one currency means governments how will tax us? All the governments are working through taxes paid by citizens if all of us completely starts to use crypto currency then governments don't have funds to run the governments ehich will result to economical crisis,but crypto currencies will do more benefits to the people not to the governemnts that is the reason governments are opposing crypto currencies.

[nioctiB#1]

It is obvious that the reason why some governments dont want to support or legalize cryptocurrency is because they cant control it since the nature of most of them are being decentralized digital currency, which means it can work without the help of any government institutions and banks and it is hard for them to implement a regulation. This is also the reason why some governments want their own cryptocurrency and make it a centralized one, so there will be no problem for collecting tax on gains and they can monitor every transactions easily.

[1993jochico]

It will be hard for us if theres not tangible money, in our country you can buy a stick of cigar. If there is no tangible money there will be no retailers in a community because they cant afford to buy a machine that accepts crypto currency because for sure the machine will be expensive and that will cause the small business industry to die.
There will be no "one world one currency" it is too impossible, the only possibility is a combined country currency and cryptocurrency.

[kucritt]

why the government dont support bitcoin, because they dont want to makes thir central banks is not productive, its mean that if central banks is not productive and passive that country can't be a crisis country and have a decrease value of their local currencies, so they dont support bitcoin to makes their country better than before

[VitKoyn]

It is simple, they don't want to support Bitcoin and other cryptocurrencies because of decentralization and anonymity that majority of cryptocurrencies offers. Decentralized cryptocurrencies allows people to trade directly and anonymously which is alarming for governments because it makes them and also banks useless, another reason is it will be hard for them to tax those people who are gaining profits using cryptocurrency and it can also be used for money laundering. But not all governments are being threatened because there are still lots of countries that also see the good/positive side of cryptocurrency and not only the bad things.

[ThisIsUserName]

I think they don't want to lost all tax of current

[hosseinimr93]

Because they still can’t see the future. Cryptos are the future. We can hope that in near future they will gather knowledge, and understand the true potential of the CRYPTOCURRENCY.

They have gathered knowledge. They know bitcoin and they know how it can be useful for people in transactions. But they don't like it. Because most of the benefits are for people not the governments. They don't want to not be able to control transactions.  

[Meysa_richa]

It's true I also think what you think, if the government loses control of money then the government will be able to collapse.

[eaLiTy]

There are a lot of things to consider here, no government wants a parallel currency being used which could reduce the value of their national currency and i am sure this will be the biggest fear in many governments eyes. It is not just another technology that can be accepted like others , it is a revolutionary economic system that is changing the way we see things and how easy you are able to trade globally with ease.

[RAMSHIVDEEPAK]

digital asset cryptocurrency can be Transfer fast and cheap even between countries.
very significant price fluctuations in a short time.
the government can not control the price movement.

So what is future of cryptocurrency.How the gov will treat it in future ?

[judemarco1996]

Unlike labor works where a country needs in developing their nation which is essential for the growth of the country. Bitcoin is where people just sit and watch the price of the bitcoin where there is no labor done

[bitfocus]

you are right, the control freak government fears losing control over people's financial data which plays a vital role in government's public tracking system. Bitcoin can free people from this slavery.