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Author Topic: Why Government does not like crypto?  (Read 14724 times)
Ganbound
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October 04, 2018, 12:52:11 PM
 #261

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?
Cryptocurrency has been around for a long time and the government never talks about it and that’s because they don’t really like, although they do something in a way to show they appreciate cryptocurrency, but not much.

We can’t really tell the reason why, but main thing we know is that most governments has claimed that Bitcoin is being used for money laundering, but I believe there is more as to why they don’t like Bitcoin than that. Maybe there is something they are avoiding.
In my opinion governments think that people put illegal money in cryptocurrency and they have no data about how much money is invested in cryptocurrency. To stop these illegal transactions of money most of the governments have banned crypto in their respective countries. Other reason is that crypto currency is used for illegal activities which are very dangerous for any country.
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October 04, 2018, 08:54:16 PM
 #262

I think why government is doesn't like cryptocurrency because they think if cryptocurrency will make them real currency will get a loss.
I don't really know the truth but i just think like that.
They all so worry about a real currency like USD, IDR, EURO and other real currency.
Cryptocurrencies are competitors to the fiat currencies created by governments, before bitcoin appeared there were plans to create a one world currency, such a currency will be used to take complete control of the lives of the people because if they did not cooperate then they will not be able to buy anything without that money, but now thanks to Satoshi the vision of a world that is dominated by a single currency is completely gone.

 
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October 05, 2018, 06:10:33 AM
 #263

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?
as for me, i feel the government senses that crypro, though being neutral tool, can destabilize economy of the country. especially they are worried that it's out of control
Because the think that cryptocurrency will destroy their economy. People withdraw their money from bank accounts and buy cryptocurrency. Banks give nothing to its account holders. They use their money for themselves and give just a small amount to their account holders. Cryptocurrency is far better than bank accounts therefore they put their money in crypto to earn huge profits.
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October 05, 2018, 06:20:52 AM
 #264

Because it is difficult to regulate this financial flow. Most often it is international. Incomplete taxation mechanism. I think everything will change in the future.
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October 05, 2018, 06:55:54 AM
 #265

Yes, the Government didn't like the Cryptocurrency and this is happening in my country. I see that Cryptocurrency is very popular in my country. And they say that they want to get money from Cryptocurrency. But this is different from the Government banning it. The Government is afraid that if it could be detrimental to the Government.
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October 05, 2018, 08:27:23 AM
 #266

The government does not like crypto currency it is because they did not get any taxes in crypto currency and also the government they protect their people of scam investment through crypto currency which is not true, hopefully the government can realize with it.

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October 05, 2018, 08:53:18 AM
 #267

When the shackles of cryptocurrency are popularized in the human society, the government will lose control of the market economy. Some officials can no longer be corrupt, so the government hates them.
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October 05, 2018, 08:55:23 AM
 #268

Although cryptocurrency has many advantages, it has a fatal flaw for the government. Its decentralized mechanism will disrupt the economic system and let the government or the bank lose complete control over the economy!

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October 05, 2018, 01:30:49 PM
 #269

Because it is difficult to regulate this financial flow. Most often it is international. Incomplete taxation mechanism. I think everything will change in the future.

Yeah, everything in crypto needs a law clarity. Some countries ban cryptocurrency because the government prevents the money laundering, it is very possible to happen by using crypto. Maybe in the future, when the crypto's system is being better from now then those government will not ban the crypto anymore.
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October 05, 2018, 01:33:33 PM
 #270

because the government will not be able to control the money, and taxes will be very difficult to collect, there are many anonymous coins.

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October 05, 2018, 01:39:22 PM
 #271

Governments do not like money because they can not manage it. Electronic money is challenging the power of the state. And electronic money can upset a country's monetary system.
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October 05, 2018, 01:43:15 PM
 #272

Because the government can not control the money
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October 05, 2018, 01:45:24 PM
 #273

You see, everything now rests precisely on power, and it is precisely power that today is very distorting people, because in their hands very serious opportunities begin to focus, which they can use for their own purposes.
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October 05, 2018, 01:48:20 PM
 #274

The decentralization of cryptocurrency is contradictory to the centralization of the government, and this contradiction is irreconcilable, so the government certainly does not want to see cryptocurrencies dominate the world.
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October 05, 2018, 02:25:29 PM
 #275

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?
Government has a specific reason about this. Other countries banned bitcoin because maybe some if them doesnt have any idea abiut cryptocurrency. Some people said that its because government thinks that crypto is a big threat to their banks.

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October 05, 2018, 02:29:55 PM
 #276

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?
Government has a specific reason about this. Other countries banned bitcoin because maybe some if them doesnt have any idea abiut cryptocurrency. Some people said that its because government thinks that crypto is a big threat to their banks.
the main reason why the government hates crypto is that the government might assume that the crypto threatens economic and financial stability in the country. so this is natural, but I think it might not happen and maybe now the government must study crypto deeper so that it can follow the development of crypto.

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October 05, 2018, 02:34:33 PM
 #277

I suppose, that government does not like crypto because they can not control this sphere, they have no tools for regulation at the moment. All that the government can not influence, out of its control and can not make a profit for the state.

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October 05, 2018, 02:36:55 PM
 #278

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?
They banned crypto immediately in community because they believe it's a waste of time in terms of investment but in this insitution it's more demand with people due to its platform and unlimited fund in profits.The only one they supported is bank which they can also earning but they never appreciate what crypto develops in this era.
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October 05, 2018, 02:41:09 PM
 #279

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?
Perhaps that because of the government are worried if their regular currency will loose its value since it get easier to utilize cryptocurrency.  
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October 05, 2018, 02:47:36 PM
 #280

Cryptocurrency is  a direct competition to what make money and wield enormous influence and power for the government. Cryptocurrency also  is  treat to the government generating income through tax and levies that could easily be bypassed by trustless transactions of cryptocurrency.

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