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Author Topic: Why Government does not like crypto?  (Read 15070 times)
dhiraj0977
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October 22, 2018, 05:38:34 PM
 #521

They never support crypto until they were meant for them.  They consider crypto as ponzi scheme and main reason for them to not support is de-centerilization.  Government cannot support anything which they cannot control.

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siorapokk
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October 22, 2018, 05:40:10 PM
 #522

Because the crypto currencies will kill the whole system, that governments are building for years. The anonymity and the lack of the third party in payments sector make governments useless and they do not want to lose their money. Simple reason, long solution. And I hope they won't ban the crypto market.
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October 23, 2018, 12:25:19 PM
 #523

the ban is like a strategy that others want us not to be at the most, while cryptocurrency never prohibits people involved in this bitcoin forum

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October 23, 2018, 12:40:24 PM
 #524

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?

Being Decentralized, Government has no control over it. They can't dictate what it should be but they can regulate only. Good thing about cryptocurrency is basically its accessibility. You can transact even if your in another country without the interferance of your government. Ease of transaction, less fees and as being digital it won't be obsolete just like the fiat money. Everything is virtual, less expense for producing and having a supply.


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October 24, 2018, 11:20:30 AM
 #525

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?

Cryptocurreny currently helping the shadow economy to develop. As you know, level of shadow economy in developed countries is low and governments shoud keep it so.
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October 24, 2018, 11:37:06 AM
 #526

Some countries are good about cryptocurrency and some see it as tool for dealing with crisis. Even US government has regognized crypto several weeks ago.
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October 24, 2018, 11:58:26 AM
 #527

Many countries whose governments reject the existence of Cryptocurrency because Cryptocurrency is considered as a money that is prone to committing crimes.
The nature of Cryptocurrency is anonymous so many are worried if Cryptocurrency is used to commit money laundering for corruption, to buy illegal drugs.
I am sure if this is really just a fear from the government, because the actual use of Cryptocurrency can be traced to the usage and who uses it.

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October 25, 2018, 01:36:41 PM
 #528

One of the reasons for the ban is that the country can not control the cryptocurrency , which means they do not benefit from it.

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October 25, 2018, 01:41:02 PM
 #529

Most of the people today have already managed to understand what the problem is, but it’s just the people’s doubts, it seems to me that everything can change as soon as people from government bodies start to introduce the blockchain into their structures.
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October 25, 2018, 02:08:39 PM
 #530

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 cryptocurrency being decentralized, the Government cannot control this things. And cryptocurrency is used in illegal transactions that's why Goverynment wants to ban cryptocurrency. And cryptocurrency transactions are very hard to trace if you don't have the knowledge on it. And the main thing why the Government keep banning cryptocurrency is because they cannot control the people If this will become the mainstream.

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October 25, 2018, 05:33:17 PM
 #531

Crytpo means freedom for many people and of course government doesn't like crypto  - they can't control it and they see how much money they lose from their system everyday
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October 25, 2018, 08:22:59 PM
 #532

The government does not like cryptos because , it is an advance digital technogy and government cannot provide this electronic gadgets for public use, it is good for advanced countries where in the power supply and internet accessibility is always present, how about those third world countries which do not have , the government if they accept cryptocurrency ,they want full control over it , so there are many things to iron before this cryptocurrency will be implemented.

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October 25, 2018, 10:51:33 PM
 #533

People learning the world of Cryptocurrency strive to generate additional income. Bitcoin is very popular in today's world. Governments do not consist of creative people. Generally conservative people become politicians. They cannot follow development and have their bias against crypto money.
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October 25, 2018, 11:08:10 PM
 #534

For the Government that this could give Cryptocurrency a negative impact. I take for example in my country that the Government is afraid of if Cryptocurrency was used for evil. The Government was afraid Cryptocurrency used for money laundering and terrorist funding.

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October 25, 2018, 11:21:22 PM
 #535

People learning the world of Cryptocurrency strive to generate additional income. Bitcoin is very popular in today's world. Governments do not consist of creative people. Generally conservative people become politicians. They cannot follow development and have their bias against crypto money.
So many times they have said that crypto has a lot of possibility to disrupt their traditional economic system. In fact that so many governements have been warned their central banks to protect their financial system. They consider crypto as a threat. That's the main reason why governements wants to give a lot of restriction to the crypto.
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October 25, 2018, 11:24:40 PM
 #536

I believe that governments prohibit cryptocurrency because they can not control it and governments do not like the anonymity of transfers
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October 26, 2018, 01:59:09 AM
 #537

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 is decentralized. No one controls it. There is no central office governing these currencies. Government can not impose tax with these currencies that is why they do not like the idea of it. Government projects were derived from community taxes, income tax, business tax, excise tax and other taxes so if the people continue to use cryptocurrencies instead of cash then there is no more taxes to collect which would result to government having no fundings for their projects.

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October 26, 2018, 02:08:23 AM
 #538

Crypto and blockchain provide a secure transaction but also anonymous. anonymous this is certainly quite dangerous when abused for transactions that are bad enough as it purchases weapons for war. of course, the Government will strongly denounce such things exist in their country. Moreover, the fluctuations of the crypto provide impact too when many people were not able to control it. This is the problem for the Government because it did not want a lot of their communities affected by the loss of this.

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Arlibtchunt2018
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October 26, 2018, 02:21:00 AM
 #539

I think they are not accepting crypto because they can't easily gain from it or even have to take higher risk. That is why their dodging on adopting a good innovation.

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October 26, 2018, 02:21:53 AM
 #540

They hate it cause they dont have control in it, and they cant stop anyone from buying thing they want power and who controls money will have power and they cant do that in BITCOIN or cryptocurrency

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