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Author Topic: Why Government does not like crypto?  (Read 14724 times)
Holla123
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October 11, 2018, 11:47:47 AM
 #361

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?

Governments like control. Crypto at this stage is hard to regulate or control. As soon as it is more obvious, that blockchain offers good options to make sure of raising taxes or the potential for the fight against corruption, the sentiment might change. Some countries will move forward on crypto quicker than others and will show what is possible.

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October 11, 2018, 11:52:08 AM
 #362

For one, most governments feel responsible for the well being of their citizens (here lies the first fault of course).

Then there are governments that mostly consist of wealthy people and most may feel threatened by crypto.

Also, some governments forbid stuff when they are still in the process of setting up rules and a workable frame work for crypto to exist in.

I think governments that really make it illegal have some ulterior motive, not related to the well being of citizens....

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October 11, 2018, 12:00:44 PM
 #363

The government does not like cryptocurrency because it cannot control it. I think government bodies do not want to lose power over people.

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October 11, 2018, 12:06:44 PM
 #364

I don't think governments does not like crypto I mean they maybe thinking for now on how they will they use Crypto as a second currency in fiat in my opinion. And I think it would be helpful to some people like me if they legalized it worldwide that we can use it anywhere.

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October 11, 2018, 12:08:38 PM
 #365

The government of many countries loyal to cryptocurrency. I think that every developed country was able to appreciate the blockchain technology.

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October 11, 2018, 12:13:45 PM
 #366

people like cryptocurrency because they are earning money the government does not like it because they don't have control over it

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October 11, 2018, 12:24:41 PM
 #367

These are the reasons why governments do not like crypto at all

Decentralized which is very difficult for them to track illegal transactions
They cannot control it or its very difficult for them to collect taxes from their citizens
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October 11, 2018, 01:55:30 PM
 #368

Because cryptography is a place where high risk and difficult to manage cash flow. So the government is afraid that money will go away because of money launderers, terrorists, and illegal workers. So the new government is afraid of electronic money.

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October 11, 2018, 06:26:14 PM
 #369

i think this is because they will lose the pvower of tracking down the money! really, if they won't be able to control this fiat flow they would probably feel useless Cheesy but it will be changed in the end

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October 11, 2018, 06:38:52 PM
 #370

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?

I think the reason government don't like cryptocurrency is because they don't to lose control of the financial sector of their economy,most governments are in charge of their central banks so they they like the concept of decentralization which is the ideology of cryptocurrency



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Olatunjex
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October 11, 2018, 08:01:00 PM
 #371

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 always want to be in control of fiance decentralizing this sector reduce the power of government over citizens i hope one day control of money will be decentralized.
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October 11, 2018, 08:11:21 PM
 #372

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?

It is rather strange if the state liked the free movement of capital, without any possibility of taxing them and identifying the owners.
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October 11, 2018, 08:30:04 PM
 #373

There are some countries who banned cryptocurrency because of there government policies which they have come up and concluded in prospect that cryptocurrency is soon to be a threat in the economy and industry of taxation. Furthermore, some policies of government is the one who take controls businesses which are good of people in there nation being progressive country.
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October 11, 2018, 08:41:39 PM
 #374

There are some countries who banned cryptocurrency because of there government policies which they have come up and concluded in prospect that cryptocurrency is soon to be a threat in the economy and industry of taxation. Furthermore, some policies of government is the one who take controls businesses which are good of people in there nation being progressive country.
They banned crypto immediately because they only supported bank which they think that it's good for the people but in my choose crypto is much better because with or without money to invest still opportunities they have to offer and there's no limited fund to earn though it's not stable but as governments accept this they we're able to plan at a stable price .

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October 11, 2018, 08:47:55 PM
 #375

Currently Crypto is very unpredictable (where's the promised pump, huh?) and hard to control. Some countries try to find ways to regulate and tax it, but at this point it's hardly technically possible.
How can you tax something that's anonymous and decentralized? What's should the amount of that tax be to compensate for the unstable price? Governments basically have only two solutions: either officially ban Crypto (which will hardly prevent people from using it) or, like Malta, become absolutely open and friendly to Cryptocurrencies and their development.
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October 12, 2018, 02:30:44 PM
 #376


Traditional money is easy to control, and they don’t know how to work with cryptocurrency. Therefore, it is easier to ban.

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October 12, 2018, 02:36:06 PM
 #377

The Government hardly makes money from cryptocurrency, because it's difficult for them to tax it, unless you selling your crypto to real time cash, but they can't wait for you to cash out, so that's one reason also they don't have control over it, so they don't like what they can't control.
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October 12, 2018, 02:37:48 PM
 #378

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?

It is rather strange if the state liked the free movement of capital, without any possibility of taxing them and identifying the owners.
It would not be that strange because the money that they are producing is not genuine money anyhow.

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October 12, 2018, 02:42:13 PM
 #379

The Government hardly makes money from cryptocurrency, because it's difficult for them to tax it, unless you selling your crypto to real time cash, but they can't wait for you to cash out, so that's one reason also they don't have control over it, so they don't like what they can't control.
The Government can kind of attack Bitcoin and crypto for a short while though they cannot completely remove it. The Government can move some servers and Bitcoin would temporally be more than halfway destroyed.
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October 12, 2018, 02:56:37 PM
 #380

In my opinion, that is because there is no suitable management plan. It has a certain anonymity so it takes time to get the right solution and be accepted!
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