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Author Topic: Why Government does not like crypto?  (Read 14724 times)
JeBro
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March 27, 2019, 04:25:12 AM
 #1301

Cryptocurrencies undermine the monopoly of governments on money emission and it goes out of their control. No country in the world will allow this to happen, which is why so long is the recognition of cryptocurrency by official government agencies. Only after governments find ways to control crypto transactions, they will be able to allow free circulation of cryptocurrencies.
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March 27, 2019, 07:16:50 AM
 #1302

there is generally a difficult question on the one hand, cryptocurrencies are not traceable. On the other hand, with a certain desire and necessity, you can find out who owns a particular wallet.

sjbi
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March 27, 2019, 07:42:59 AM
 #1303

Because mostly the new invention is not accepted by all in the first place. It takes time for any new invention to take its shape and become popular. Many governments are not ready yet to accept the cryptocurrency just because they are doubt about its tremendous potentiality and its good nature. But lets wait for the time when the crypto world would be widely accepted.

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Rtalk
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March 27, 2019, 08:09:43 AM
 #1304

In developed countries such as Japan-cryptocurrency transactions are carried out within the framework of the law.
Many countries have not yet accepted the cryptocurrency because they do not trust it, have not fully studied it.
In many countries, cash is still used and the use of Bank cards is underdeveloped.
With the development of technology and understanding-will grow confidence in cryptocurrencies and, accordingly, its implementation.It's only a matter of time.
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March 27, 2019, 08:27:18 AM
 #1305

I think government want to adopt bitcoin and cryptocurrency as legal payment but many people and investor dislike and make bad reputation of bitcoin and altcoin it self, we have make announcement about bitcoin become legal payment.
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March 27, 2019, 08:33:36 AM
 #1306

It seems to me that the government does not like cryptocurrency for one simple reason. They are afraid of the competition that cryptocurrency create banks that they roof.

Yaiko08
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March 27, 2019, 08:51:48 AM
 #1307

it could be that maybe there would be a lot of people misusing this especially seeing the results given from the crypto world is not small so you have to be careful in legalizing crypto.
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March 27, 2019, 09:09:35 AM
 #1308

If we take into account the transparency of the blockchain, then everything becomes clear. In this case, each person will be able to audit the activities of the government. And the government of such super corrupt states as Russia or Ukraine (I live here, so I know what I'm saying) will very quickly cease to exist.

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March 27, 2019, 09:14:22 AM
 #1309

If we take into account the transparency of the blockchain, then everything becomes clear. In this case, each person will be able to audit the activities of the government. And the government of such super corrupt states as Russia or Ukraine (I live here, so I know what I'm saying) will very quickly cease to exist.
Totally agree with you. Because it is in these countries that corruption is very highly developed, and many simply do not want to dig up their stolen savings.

radjie
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March 28, 2019, 03:50:25 AM
 #1310

basically cryptocurrency is a type of investment that has a very large risk and no country can control it, therefore the government does not recommend the public to invest in cryptocurrency because it cannot be accounted for by the government if many users complain of losing a lot of money invested in cryptocurrency

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March 28, 2019, 04:51:29 AM
 #1311

basically cryptocurrency is a type of investment that has a very large risk and no country can control it, therefore the government does not recommend the public to invest in cryptocurrency because it cannot be accounted for by the government if many users complain of losing a lot of money invested in cryptocurrency
losing their investment asset will be the responsibility for their own affairs instead of the Government. until now, many Governments are still indifferent to markets crypto, the Government need to know this market has potential. If the Government get in on the market might be good crypto because of capital which I guess can foster the ability of the market.

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april08
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March 28, 2019, 04:55:14 AM
 #1312

Government also want to have control of every in her environment, when this is not actualized, they kick against such thing. Why some countries government is kicking against it is that they want to have a share from it; directly or indirectly and also regulates it accord their existing laws.
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March 28, 2019, 06:48:54 AM
 #1313

The government certainly wants to be able to control everything in the country, as we know that crypto is decentralized so that the state has no power to control, this is what makes the government worried that crypto can threaten the country.

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March 28, 2019, 06:57:05 AM
 #1314

basically cryptocurrency is a type of investment that has a very large risk and no country can control it, therefore the government does not recommend the public to invest in cryptocurrency because it cannot be accounted for by the government if many users complain of losing a lot of money invested in cryptocurrency
many are worried about a bubble, because they consider bitcoin like a game. besides that I think the government is not familiar with a decentralized system that can worsen the economy

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March 28, 2019, 07:02:16 AM
 #1315

The main reason why government does  not like crypto is that they cannot control it.  They cannot account the income derive from crypto because they have no way in knowing it, therefore they cannot implement taxes.  If there is no tax,  no gain for them.
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March 28, 2019, 07:02:25 AM
 #1316

That's because the government believes that cryptoqurency is high risk and anonymous, behind the ease of cryptoqurency can be misused by various groups for illegal transactions. Besides crypto is not controlled by anyone and prices are very volatile. but in my country crypto is permitted but only as a means of investment and nothing more than that.

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March 28, 2019, 08:21:29 AM
 #1317

agree with all of you because the results obtained from crypto are so much that the government must be careful in legalizing crypto, even if crypto is legalized, there will be many conveniences and benefits provided, but all must be considered by the government, whatever is given will certainly make everything is fine.
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March 28, 2019, 08:26:53 AM
 #1318

I think Government doesn't like crypto because some crypto payment is used to pay terrorist.
Most of people in my place think crypto is like a gambling.
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March 28, 2019, 09:10:20 AM
 #1319

I think Government doesn't like crypto because some crypto payment is used to pay terrorist.
Most of people in my place think crypto is like a gambling.
Many governments simply hide behind the fact that the crypto currency is allegedly massively used by terrorists.
As various studies show-Fiat money is much more often used in their calculations by bandits than cryptocurrency.
Then another question arises : Why do States in this regard do not want to ban the dollar ?
I think the answer is obvious.
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March 28, 2019, 09:26:22 AM
 #1320

Cryptocurrency is the most popular terms nowadays. People like cryptocurrency so much. Many people are involving in the crypto world. Everyone wants to earn money from cryptocurrency. While people are liking cryptocurrency, Government does not like it at all. In some countries, the government banned the cryptocurrency. What is the reason behind this banned?


Decentralization is the main reason behind it. The government would never let the people have power on their money. They want to have control over people money. However, crypto is the future of the Internet. Thanks to the Satoshi vision and hats of to all the supporters.

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