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Author Topic: Why Government does not like crypto?  (Read 14724 times)
dominos
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January 25, 2019, 11:03:09 PM
 #961

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 can't like cryptocurrency which main idea is 'decentralization', they only like and want thigs that they can check and manage - centralized.

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January 25, 2019, 11:07:14 PM
 #962

A currency will always depend on the user itself, it just doesn't make sense to blame the currency because it's people that have mind to do something either good or bad. It's all optional.
dominos
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January 27, 2019, 07:05:43 PM
 #963

A currency will always depend on the user itself, it just doesn't make sense to blame the currency because it's people that have mind to do something either good or bad. It's all optional.
But with true decentralization in itself it is really hard to make some bad things inside of the currency itself and probably that was the main thing in the discussion which wanted many people here.

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January 27, 2019, 07:32:38 PM
 #964

Cryptocurrencies tend to promote anonymity and anonymity is one thing governments all over the world doesn't want at all, just imagine how it would be when it reaches time to pay your tax and they cannot even trace your financial records.

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January 27, 2019, 07:35:15 PM
 #965

A currency will always depend on the user itself, it just doesn't make sense to blame the currency because it's people that have mind to do something either good or bad. It's all optional.
But with true decentralization in itself it is really hard to make some bad things inside of the currency itself and probably that was the main thing in the discussion which wanted many people here.

Governments will never enjoy decentralization. Not because something bad can happen, just because they would lose control, and this is impossible for governments to accept.

 
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UniversityCoin
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January 27, 2019, 07:54:53 PM
 #966

The reasons may be different. I want to name one of the most likely. Cryptocurrencies are a very risky investment goal, where you can lose your money. This may be due to a strong fall in prices or the actions of fraudsters.
Governments are not able to protect their citizens from the loss of large sums of money, so they prohibit cryptocurrency in their country.

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January 27, 2019, 07:57:08 PM
 #967

I think that the main reason for this is that the government is afraid of a transparent economy, since their hidden revenues will be visible.
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January 27, 2019, 07:59:12 PM
 #968

Well governments like crypto a lot more now then they used to.
It's just a matter of time. More and more politicians are going to own crypto.
It all about taxing them and they just target exchanges to hand over data on users.
At the end of the day it's a new opportunity for taxation.
And to actually avoid taxes would take a high degree of effort.
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January 27, 2019, 08:07:48 PM
 #969

guys cryptocurrency for ordinary people and not for politics.Cryptocurrency is the decentralization of the financial system, fiat money is centralized.Hence the conclusion — cryptocurrency is unprofitable for the current political system.Over time, I am confident that the situation will change in a positive way.

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January 27, 2019, 09:08:30 PM
 #970

I don't think governments really hate cryptocurrencies and it's unlikely that cryptocurrencies can destroy the entire economy of the planet. It seems to me that this is done on purpose, first we are interested in cryptocurrencies, and then they can destroy the whole world.

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meccaflare0
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January 27, 2019, 09:12:40 PM
 #971

As long as we measure the value of BTC in USD, I don't ever see an issue happening.
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January 29, 2019, 09:27:04 AM
 #972

Many countries have banned the use of cryptocurrencies, as there is no proper regulation by the state. This allows you to make payments in cryptocurrency, thereby avoiding taxes, or hide your purchases. This makes it possible to use cryptocurrency to implement criminal scenarios.

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January 29, 2019, 09:28:39 AM
 #973

The government does not like when something does not belong to it
babicena14
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January 29, 2019, 09:40:17 AM
 #974

I think Government prohibits cryptocurrency because they see it as a threat to the financial system. With the advent of cryptocurrencies, we can perform many actions without involving the banks, now each of us can be a Bank and dispose of their money at its discretion.

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January 29, 2019, 09:46:29 AM
 #975

I think there may be many reasons, but the main thing I see is volatility and the fact that the cryptocurrency requires a revision of the legislation in order for the state to profit from it!
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January 29, 2019, 09:56:49 AM
 #976

I think in a lot of cases the 'ban' will turn out to be temporary. One thing governments don't like is sectors with no oversight and no accompanying legislation. Bans I think will be temporary measures until either governments have gauged the level of 'threat' and found it to be acceptable, or else have put the necessary laws in place to allow oversight.

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January 29, 2019, 09:56:59 AM
 #977

The answer is very simple. The government doesn't like anything that they have no control over, aka decentralized.
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January 29, 2019, 10:17:02 AM
 #978

The time will come when the governments will recognize the cryptocurrency, it is worth waiting for 2020, and actions to regulate the cryptocurrency will begin there and then the governments will start working with the cryptocurrency and  they will start legalize the cryptocurrency.

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January 29, 2019, 10:31:30 AM
 #979

not all does not like it. only those who keep their treasure in gold like scrouge mcduck and doesn't buy crypto just because do not understand crypto and it's value))
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January 29, 2019, 10:34:01 AM
 #980

Because they can't tax it, it's decentralized and they can't manipulate it.
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