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

[KingScorpio]

I also wonder as much as you do why government is not supporting cryptocurrencies. I think it has to do with the decentralized nature of cryptocurrencies. By this, financial liberty has been returned to the people and has made them their own bank. Government now sees regulation as a way to come into cryptocurrencies.

ok i promise you i will write a blog article to make you understand why governments oppose cryptocurrencies.

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[redsap]

well goverment is thingking how they can use it and can gain benifit for their country and can reduce the disadvantage of it, so they need a more time to getting the way better of use it, by making some regulation or amndment any kind that very complicated matter with the goverment way

[BartS]

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 probably the main reason, I'm pretty sure that at first governments were against the Internet but they found very soon that people will reveal to them a lot more information than if they tried to force that information out of people, with services like Facebook Google or Apple they are obtaining a huge amount of information, but with cryptocurrencies is going to be the opposite, cryptocurrencies are in fact an effort by some part of the population to use other channels other than the official ones to make transactions and for them this is dangerous.

[nelsmining]

The reason they have little support simply has to do with control. Governments are set up to control people and Bitcoin was set up to be uncontrolled. Secondly it is hard to tax effectively and governments want their share.

[kendra1107]

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??

Exactly! Money is what makes this world revolve. Cryptocurrency involves a huge huge amount of money and is still growing. Since it is decentralized, the government is generally against it coz they have total control over it. And they hate it when they can't control something that involves money. Greedy bunch of folks!

[marginal]

In my opinion, in my particular case, it seems that government is aginst bitcoin and other alts, becouse they cannot get profit (taxes) from them...

[chaoscoinz]

I think that you are partially correct, as far as the government wanting to keep control, instead of allowing the people to usurp the monetary system with digitally cryptographic currency. Their are a lot of politics involved. So I myself, an unsure to the exact reasons it isn't massively adopted by parliament.
   Parliament around the world, runs on a system whereas "if it isn't broken, don't fix it." Now, I can see parliament across the globe, adopting the technology, and then issuing their own version of currency coins for the people.

[Victorycoin]

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??

You're right, the main reason governments across the globe are having a hard time identifying with Bitcoin and cryptocurrencies in general, is in the fact that these coins hands back power to the people to manage their finances by themselves, which is one thing governments after governments have been sitting on in order to maintain the statuesque until Bitcoin showed up.

[HiRollStaff]

Beyond everything you mentioned, I respect the fact that its simply the responsible thing to do for a government to be skeptical of a system that completely changes/bypasses their current system. They need to be 200% sure it is a working, stable, life sustaining system. Even if they are supportive, time will have to tell.

[jagmrx]

Beyond everything you mentioned, I respect the fact that its simply the responsible thing to do for a government to be skeptical of a system that completely changes/bypasses their current system. They need to be 200% sure it is a working, stable, life sustaining system. Even if they are supportive, time will have to tell.

Other technology may benefit the govern one or another way. But there are some govern who think that btc is not giving benefit to them. Usually, those are some poor and stupid countries who do not know anything about btc and start to be afraid of something that they do not know. It is common but I think we people should change that fact and should change that point of view. In fact, if those poor people and those poor countries want to take advantage of btc, I am pretty sure that they will become rich and prosperous country. But I guess not everyone can understand how we think, so we can only encourage the people to do so.

[Raggie]

i think it is because the security reason in cryptocurrency that there are some governments not supporting it.
they cant know who is the owner of the crypto, and they cant tax the crypto.

[joykulot]

This is because they think this new technology can use by the terrorist against them. Because cryptocurrency is a digital currency that cannot hold by the government. And I think they against them because they cannot put tax in it.

[KingScorpio]

This is because they think this new technology can use by the terrorist against them. Because cryptocurrency is a digital currency that cannot hold by the government. And I think they against them because they cannot put tax in it.

many people in cryptocurrencies think

that the people that work in the economy for national fiats are just a bunch of robots that love doing that,

nothing is more stupid that thinking that.

many of those people do those jobs because they see no other choice of doing something else.

with cryptocurrencies out there now, these people will now think,


hmm why work?

why not also just create a cryptocurrency, this ultimately leads towards a society in which the productive industry lacks enough labour.

then cryptocurrencies start to destroy the economic and social basis of that society till there is nothing left but just a bunch of money printers looking for idiots to sell them their time.

[jpaul]

Would you let something you don't have control over to grow? The same is the case with the government in not promoting or letting crypto currencies to thrive. The governments don't have any control over the crypto currencies and they understand the potential crypto coins have over disrupting the traditional money.

[bolbau]

such as the government that always looks badly at the cryptocurrency community. I will also give a subjective reason for the government that keeps trying to block cryptocurrency. the reason is very clear, they are just afraid conventional money no longer appeals to the public, whales who have an interest in national banks feel it as a threat to them. and the last reason is the government wants to get a share of a few percent of the money transactions in the crypto market, they want taxes! that's clear.

[JerryJam]

Some governments do have a negative attitude to bitcoin. Impose a ban on its use. These are mainly States with dictatorial rule.So want to have control over people ,zastavit people to play by their rules and to turn people into weak-willed herd. All its limitations so is the fight against illicit transactions, money laundering and tax evasion.

[Washball]

Cryptocurrencies are created to bypass the middlemen. That means banks and authorities are kept out of financial transactions made with cryptocurrencies. As banks and authorities want to control each and everything that has to do with finance, they will not support and not even allow cryptocurrencies. But they will use the blockchain technology and even create their own centralized cryptocurrency.

[kier010]

because government have no control over cryptocurrency. there are many times cryptocurrency are being used in illegal activities and government can't stop them. maybe they still find a solution how to regulate it before they fully support it.

[Snaic]

It is very difficult for some governments to agree with that. that in their territory as a means of payment there will be a crypto currency that can not be controlled by it and with which it will be possible to anonymously withdraw money from the country. And the cost of bitcoin is thousands of times greater than any national currency and has greater volatility. It's just an uncontrolled financial bomb inside the country.

[Tszone]

government is no supporting crypotcurrency because they feel it will over shadow the use of fiat currency and they government know they cant regulate the use of cryptocurrency like bitcoin. government are always scared of anything they cant control