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Author Topic: Why Government does not like crypto?  (Read 14724 times)
labenea
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April 02, 2019, 06:51:37 PM
 #1421

I don't really understand why they don't like crypto or agree with the presence of this extraordinary program. I think the technology generated from the blockchain is very useful, both in terms of the platform and also the server is so fast and easy to reach, or maybe they don't like it because crypto is anonymous.

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April 02, 2019, 10:19:37 PM
 #1422



It is even difficult to imagine how much money is laundered with the help of cryptocurrency and the government can not affect it, there is no tax revenue, and no one will voluntarily pay them

No more than through banks Wink Much less money is actually laundered through cryptocurrencies.
both of them share that, I don't think bank jealous is because of that. banks don't like bitcoin because it is decentralized and it is very different from the bank system, and of course there is chance to reduce the bank's users.
Yes right they are not jealous but they are actually afraid of it because they can see how rapidly crypto currency is gaining value which is not good for the banking system people prefers investing in crypto currency than holding money in banks, government are not taking the benefits from crypto but people and investors does that’s why they don’t like it.
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April 03, 2019, 06:10:47 AM
 #1423

I think bitcoin and government can’t exist with each other, If Bitcoin continues its progressive development, the state apparatus will gradually melt. If the state continues to exist, Bitcoin is likely to outlaw and try to crush the power of the repressive state apparatus. However, the more users invest in Bitcoin, the more power, assets and support the network has, which will help it resist any aggression from the state. Because people make investments in Bitcoin out of curiosity. They are betting on a unique, global phenomenon that will improve their lives, and they are ready to fight for it to continue to exist, At a certain point, the number of users will reach a critical mass, and no one will be able to oppose or intimidate them to anything. Upon reaching this point, the state as a system of hierarchical power institutions will be doomed.
I, too, so same think, support your opinion! Time will tell the result. For now, as enthusiasts, we can only believe and wait.
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April 03, 2019, 11:32:04 AM
 #1424

Most of the countries not banned crypto but tried to regulate it, to avoid average people from scams,which were very common thing during the hype of ICO in 2017

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April 03, 2019, 12:34:25 PM
 #1425

I am sure that there are many reasons why countries do not allow crypto operations in their countries, perhaps one of them is the crypto price that is not yet clear or still fluctuating, making the country reluctant to use it because it can harm their country and certainly they still use the laws that apply in their country, therefore crypto hard to enter.
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April 03, 2019, 12:36:08 PM
 #1426

It seems that the government is not hating but they themselves are still learning about cryptocurrency whether it is suitable or not to do legality in the country as many countries actually have not given an attitude

 
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April 03, 2019, 12:39:17 PM
 #1427

It seems that the government is not hating but they themselves are still learning about cryptocurrency whether it is suitable or not to do legality in the country as many countries actually have not given an attitude
you are right, now many countries already know about the development of cryptocurrency but they themselves are still making studies regarding the use of crypto in their countries. because the use of crypto will obviously have a positive and negative impact on the economy of a country.
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April 03, 2019, 12:44:17 PM
 #1428

No, it is not what you think. We need to educate the government ao that they could apply this technology but mind you that not all will going to accept this trend because this will represent transparency of transaction through block chain technology. The corrupt politician will definitely against with it.

Anyway, the best thing is that cryptocurrency manage to operate with or without government's watch.

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April 03, 2019, 01:12:42 PM
 #1429

Strange situation with this case. Because now you can take and use the tremendous opportunities to improve the system for controlling finances so that there is no corruption and any such thing. But no, we do not.
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April 03, 2019, 01:40:54 PM
 #1430

The only and main reason is regulation as without regulation govt did not get taxes from crypto traders or exchanges owners so fist they want to regularize the crypto currencies and then may be remove the ban.

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April 03, 2019, 02:18:46 PM
 #1431

Because crypto is decentralized, no one cannot control the price, sometimes it rises sharply and sometimes it drops to worthless. And the government cannot get taxes from crypto traders every time a transaction is made.
but it seems that now there are many cryptos that are legal in several countries with government regulations in the country.

 
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April 03, 2019, 02:29:10 PM
 #1432

The only and main reason is regulation as without regulation govt did not get taxes from crypto traders or exchanges owners so fist they want to regularize the crypto currencies and then may be remove the ban.

I think Bitcoin is not a type of currency that can be set by one person or several groups because you can see for yourself a price that cannot be guessed by just a matter of time.
all that might happen. because people with large capital or groups that control the largest supply can just play with market prices. and that may be that which cannot be controlled by the government, so that until now the government still does not agree on the use of crypto in several countries.

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April 03, 2019, 02:55:15 PM
 #1433

Quite a tricky topic.Actually still crypto is in its early phase>few months back only we celebrated 10 year completion.So it still has a long way to go.It will take time to mature and become accepted by people.Governments has yet to take many measures to implement regulations and it will take some time.Moreover the money laundering issue has been on of the prime reason.
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April 03, 2019, 03:00:10 PM
 #1434

The only and main reason is regulation as without regulation govt did not get taxes from crypto traders or exchanges owners so fist they want to regularize the crypto currencies and then may be remove the ban.

I think Bitcoin is not a type of currency that can be set by one person or several groups because you can see for yourself a price that cannot be guessed by just a matter of time.
all that might happen. because people with large capital or groups that control the largest supply can just play with market prices. and that may be that which cannot be controlled by the government, so that until now the government still does not agree on the use of crypto in several countries.
Yes, I understand enough, what you say is true why the government doesn't like crypto for this reason and other reasons might be like in my country, because crypto is anonymous and many big parties assume that crypto can be used for illegal transactions, this is another reason why doesn't the government in my country approve of this cryptoqurency world.

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April 03, 2019, 03:22:54 PM
 #1435

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?
Lack of central authority is the main reason why government still not accepting cryptocurrency... They cant control all the transactions that are happening on blockchain.. Additional to this, they cant charge taxes on it.. Government can controls fiat currencies while bitcoin cant.. Government can dictate fiat currencies transactions while bitcoin/cryptocurrency cant.. Government can track criminial activities but not with blockchain.. Maybe this are only some reasons why government banned crypto...

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April 03, 2019, 03:25:32 PM
 #1436

Government is protecting people from risk of cryptocurrency because cryptocurrency is a risk that we need to take if we enter it.So government doesn't want it because ot can affect the people so much.There are such things like scams and wrong moves on cryptocurrency that government need to avoid and not all countries and territories can access the cryptocurrency.
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April 03, 2019, 03:47:50 PM
 #1437

Government is banning cryptocurrency cos Crypto is taking that right of them been in control from them. And also those taxes are also scrapped out with Crypto

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April 03, 2019, 03:57:15 PM
 #1438

Because crypto holders do not pay taxes and this harms the governments budget. I think that in the nearest future, government would accept crypto currencies but they would regulate them and get their taxes for sure.
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April 03, 2019, 04:25:13 PM
 #1439

Taxes are not the only reason for banning cryptocurrencies. These include money laundering,financing of criminals and the purchase of drugs.
But these are only the reasons why States prohibit cryptocurrency.Everyone understands that the dollars and currencies of other countries bought a lot more prohibited things !
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April 03, 2019, 04:47:25 PM
 #1440

I think the government doesn’t like cryptocurrency because of its anonymity. People will be able to make transactions without paying taxes. This is not like the government.

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