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Author Topic: Why Government does not like crypto?  (Read 14724 times)
ayesha703
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August 21, 2018, 06:43:48 PM
 #1

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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August 21, 2018, 07:07:14 PM
 #2

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?
Because the crypto currency will destroy the entire economy of the planet. Crypto currency is a way to make money only for ordinary people, but not for the government. Who wants to go to work for a factory or office, usually to earn money and give some of this money to the state in the form of taxes? If you can sit at home, in a comfortable for you conditions, sell and buy a crypto currency. And you do not have to share with anyone, even with the state!
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August 21, 2018, 07:43:23 PM
Merited by CryptopreneurBrainboss (1)
 #3

I can imagine that no government would be fond of cryptocurrencies because of their disruptive power. Have you noticed that even if the country has free and open market economy, one part of its economy always remains closed and centralized? That part is the part where the government issues fiat (paper) money. That part always goes against the principles of open and free market economy.

All governments want to remain in charge of printing money out of thin air, so they can do 2 things:

a) have a say in the distribution of paper money and
b) debase their fiat money each year (inflation), and by doing that, rob its people and get even more money (value) for itself.

Now, cryptocurrencies, or at least bitcoin, make it totally impossible for anyone to debase it, which is a great feature and comes very close to the archetype of ideal money.
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August 21, 2018, 07:50:29 PM
 #4

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?


Legally decentralized things are not allowed to use in this world so far that is how it drafitically mentioned but fact the people who have control money and controlling the world economy not allowing bitcoin to take charge.
If Bitcoin is allowed to use everywhere then the whole world will use everything free and easily.
None of the government and corporates want that. If this kind of mindset left then you can see.

 
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Isterichka
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September 03, 2018, 09:59:23 PM
 #5

The government does not like the fact that they cannot konrolirovat it. Thanks to cryptocurrency it is possible to make payments instantly and without the commissions. It is also impossible to prove at whom how many cryptocurrency and for what sum.

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September 03, 2018, 11:06:25 PM
 #6

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 don't like cryptos because they cannot control the cryptos space, unlike the normally paper money, the government can control it, they can do how ever they want with it but it's different with cryptos

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September 05, 2018, 06:28:59 PM
 #7

The governments of countries do not like cryptography and crypto-currencies, because for the most part the members of the government know nothing about the advantages of cryptography and the worst thing is that they do not want to learn new things and are afraid of it.

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twkasun7
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September 05, 2018, 06:43:08 PM
 #8

It needs some time i think.Cryptocurrencies are still at the developing stages.i think year 2018 is maturing year for all cryptocurrencies along with block chain tech.

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September 05, 2018, 06:57:55 PM
 #9

Cryptocurrency promotes Anonymity and decentralisation, Imagine you were a successful business man who earns a certain % commission from every transaction your employees make, suddenly a new technology emerges that enables them to make transactions anonymously so you would not be able to track it and collect your commission, would you like it? This is the situation the Government is trying to combat.

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September 05, 2018, 07:24:20 PM
 #10

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?
Of course, the government will not like at all that virtual money of a very large value appeared on their territory, which they can not control and with the use of which people transfer money to other states massively. In addition, such a crypto currency is not understood by anyone, it is not provided with anything, and its price can vary by hundreds and thousands of dollars every day. Therefore, the government has its own difficulties with the crypto currency. It can allow the circulation of decentralized crypto currency, but it will never actively support it.

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September 05, 2018, 07:34:17 PM
 #11

Government not takes the cryptocurrency as the main stream payment or anything else. So far none of the government understand the usages of cryptocurrecnies apart from the Japanese government mate.
I need to stay with the decentralized factor only, if the government's intervention comes in-between this they will not allow any one to make the money on cryptocurrency investment or services for them.

 
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September 05, 2018, 07:53:03 PM
 #12

Not when the government will give power to ordinary people. The idea of Satoshi was to give people freedom from banks and governments, but now everyone understands that it will not be realized. All exchanges enter the procedure for AMC / AML, but we have the opportunity to trade on decentralized exchangers. But how can you then exchange bitcoin for dollars? The state will not allow the realization of Satoshi's idea.
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September 05, 2018, 08:32:55 PM
 #13

the government is afraid that it will no longer be able to manage its slaves and the people will withhold their savings in the crypto currency. it's all about gain and corruption. in Russia, the crypto currency is not recognized as property and officials skillfully transfer all money to the crypt. But with an ordinary person, the court confiscated the crypto currency as property. The state does first of all
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September 05, 2018, 08:35:02 PM
 #14

t is difficult for states to control cryptocurrencies. Also, states need to adopt regulatory laws and this is difficult because there are no norms for cryptocurrencies.
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September 05, 2018, 08:41:14 PM
 #15

Not that the government doesn't like cryptography. There is a question in another " how to centralize the decentralized currency to be able to control it. This is all done to maintain dominance on money creation in the country.
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September 05, 2018, 09:49:20 PM
 #16

Its simply because the cryptocurrency is not give any benefit to them to pay all the debt that they already owe from the money maker.
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September 05, 2018, 09:59:24 PM
 #17

This is more on investment that's why some country ban this before like china because this is a way to risk money and then they don't have benefits here like they got nothing here in crypto,Moreover in the future the knowledge of crypto currency will turn popular because we need this in life like the transaction with low fees,then this is good to save money and good for investment even really risky

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September 12, 2018, 11:13:18 PM
 #18

I think that the major reason why government do not like cryptocurrencies, or the idea that it is, is because they are of the opinion that it is used mostly for criminal transaction by top criminals, and that is one thing that they have been trying to fight against. They think that supporting the system is indirectly giving a green card to the crime lords.
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September 12, 2018, 11:24:56 PM
 #19

I think that the major reason why government do not like cryptocurrencies, or the idea that it is, is because they are of the opinion that it is used mostly for criminal transaction by top criminals, and that is one thing that they have been trying to fight against. They think that supporting the system is indirectly giving a green card to the crime lords.
That is one of the main reasons why the government acts like this. the development of illegal transactions can make many losses for various parties. there should be a regulation that regulates things like this, so for me the government must now make a regulation until finally the regulation can be implemented and can be implemented as well as possible.
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September 20, 2018, 07:26:45 PM
 #20

Government prefer centralism, they want to be in control of everything, legalizing, accepting or approving crypto will disrupt their plan that is why they are reluctant to legalise crypto.

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