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Author Topic: Why Government does not like crypto?  (Read 14724 times)
kinollihik
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October 12, 2018, 07:21:46 PM
 #381

States prohibit cryptocurrency because they cannot control cryptocurrency. And that scares them. This is my opinion
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October 12, 2018, 07:27:03 PM
 #382

Government just want to has a total control about and especially  money. Free exist of crypto make them nervous about their power.

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October 12, 2018, 07:31:08 PM
 #383

The main reason why the rulers do not like this idea with cryptocurrency is a very open exchange of information everything is transparent and thus it will be more difficult for the government to carry out its infernal plans and mass terror against ordinary people who want to live normally.Of course,no one wants to part with the power and the cryptocurrency leads to the fact that the opportunity to steal in those countries where corruption is developed will be reduced to a minimum, although they will find a way out here. But the most important reason for the unprofitability of cryptocurrency is its high volatility and unsubstantiated cryptocurrency assets.
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October 12, 2018, 07:52:05 PM
 #384

States prohibit cryptocurrency because they cannot control cryptocurrency. And that scares them. This is my opinion
if such logic with so many people in a country becomes difficult, the government can control the progress of this digital currency movement. In my opinion, every country needs it as an easy and fast exchange of currencies. it needs wise consideration to decide to be used properly because of a lot of fraud.
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October 12, 2018, 08:10:20 PM
 #385

why they put cameras to the every corners, did you ever think. they wanna control you they wanna control everything, also they wanna get your money by the name under 'tax', if you can hide your money, how can they do this?

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October 12, 2018, 08:33:43 PM
 #386

Cryptocurrencies pose a threat to the formed financial system, and one system will not live without the other. Therefore, governments are afraid of cryptocurrency.

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October 12, 2018, 08:55:11 PM
 #387

I think that governments clearly see the benefit of blockchain technology
but they are also learning how to put it under control, which is the opposite what crypto aim for.
They would like to pick all the good things this technology brings and ban the things they do not like. It will be a long run ...

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October 12, 2018, 08:58:32 PM
 #388

And which government will like the sphere (especially economic) that it cannot control and influence? After all, the whole essence of cryptocurrency, as I understand it, is its decentralization ... otherwise it would look like just another electronic money.

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October 12, 2018, 09:22:29 PM
 #389

And which government will like the sphere (especially economic) that it cannot control and influence? After all, the whole essence of cryptocurrency, as I understand it, is its decentralization ... otherwise it would look like just another electronic money.
Apparently, therefore, many governments decide to ban cryptocurrencies or make an official statement about the danger of their economies from cryptocurrency. Nevertheless, there are opportunities for the legalization of cryptocurrencies and for legal control.

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October 12, 2018, 09:35:39 PM
 #390

And which government will like the sphere (especially economic) that it cannot control and influence? After all, the whole essence of cryptocurrency, as I understand it, is its decentralization ... otherwise it would look like just another electronic money.
Apparently, therefore, many governments decide to ban cryptocurrencies or make an official statement about the danger of their economies from cryptocurrency. Nevertheless, there are opportunities for the legalization of cryptocurrencies and for legal control.
In fact, today there are quite a lot of countries that have a high level of economic development, work very successfully with cryptocurrency, and implementation does not hinder their economic development. Thus, I believe that the government of other states is manipulating information and trying to abuse the issues of legalizing cryptocurrency.
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October 12, 2018, 09:51:22 PM
Last edit: October 31, 2018, 02:32:03 PM by ThunderCatSteve
 #391

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?

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October 12, 2018, 09:58:35 PM
 #392

Nobody likes to have a competitor in his business, Banks are owned by Government and the success of crypto will affect banks and its use,if it all goes well for crypto, banks may later on be less useful as most persons will prefer to store in digital currency than banks. Again there are certain protections that crypto does not offer and it makes it easy for money laundering and scam, I think there are major reasons for the Government being against Crypto

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October 12, 2018, 10:30:31 PM
 #393

Every Government has different policies but according to me due to the decentralized nature the Government does not like crypto.It is unpredictable.But if there is power they need stability but it has not stability.
The main problem that governments have with cryptocurrencies is that it takes power away from them, and if there is something that governments want is to have as much power as possible and cryptocurrencies if allowed to be successful are going to steal the power of the governments to tax their citizens through inflation and that is something that governments do not like because they love to use that tax because they do not have to pass any law to implement it.

 
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October 12, 2018, 10:33:41 PM
 #394

On one hand I think they see it as a dangerous asset that can be used for many illegal things, on the other hand, I think that everyone should have free judgment in their actions and face the consequences, I also think that cryptos take power away from the government because they prevent them from controlling our movements, that's why some governments try to control/prohibit them as well.
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October 12, 2018, 10:40:22 PM
 #395

I think that the main problem why governments do not like cryptocurrency is anonymity.
Ragnar Lothbrok
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October 12, 2018, 10:56:12 PM
 #396

the government does not like crypto, but it still cannot accept crypto because of several factors that make the government think of accepting or rejecting crypto, but I am sure that someday the government will certainly be able to accept crypto, perhaps with regulations or certain conditions made by the government.

and the factors that I mean is :
1. investors do not need to pay taxes when investing using crypto and invest in ICO projects, because the government does not have data on investors who invest in ICOs, so investors can be free not to pay taxes and that is detrimental to the state.
2. crypto can be used for payment of criminal acts, such as buying illegal weapons and drugs. so the government cannot track it because pays using crypto.
3. crypto can be used as a means of money laundering, because crypto is very difficult to track who owns it.
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October 12, 2018, 10:57:26 PM
 #397

Well, the reason is simple: the state does not want to lose the monopoly for printing money. They can not tax these transactions, too. That is absolutely unacceptable for them and they are apparently going against cryptocurrencies (most of them, not every country). On the other hand, it does not mean blockchain tech and crypto are bad. Without many historical revolutions, we would be still under the king and being forced to fight with his neighbor. We would risk our lives and he would profit out of it if HE wins, not ordinary people. I hope blockchain is here to open people´s eyes and tell them: "There is the other way." This is will not lead to the era of crypto necessarily, but it will put up a question on the table and authorities have difficult times ahead of them. They need to see that people will not tolerate any kind of a corrupt system anymore and this would improve the economic situation drastically. If you have the free market, there is the world of endless possibilities. I would give it a try Wink.

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October 12, 2018, 11:01:43 PM
 #398

I believe that the main reason for the prohibition of cryptocurrency by some countries is the inability to control it and the anonymity of the cryptocurrency
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October 12, 2018, 11:02:01 PM
 #399

Many governments frown at Bitcoin because they know it is decentralized and they wont get anything from it. They also believe that the cryptocurrencies can overtake the fiat currencies in the future.

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October 12, 2018, 11:02:21 PM
 #400

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?
The possible areasons has something to do with the dencentralization of the cryptos. This simply means that governments will have no full controll of it which would be totally unlike regular currency that are centralized.Also, consistency with regards to the market price of cryptos is really an important thing. There should be an equality in the market which won't be provided by cryptos for having sudden changes including dumps and pumps, that would sometimes yield to profit loss.
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