Why Cryptocurrency threatens governments

[omorfi]

Governments want to be able to control the flow of money. Thats how they rule and regulate. They want centalised control systems. Thats why they hate decentraized crypto assets.

[Kamote_1102]

Well, in my opinion. the reason why the Government banned the cryptocurrency it's because of the security. They don't have control over it and the scammers and illegal transactions are free to do whatever they want in crypto. it is a big threat for the Government.

[Doyenuklirblok6]

Bitcoin is basically not risky because the usage scheme is still small. But according to the Bank of England, it can change if Bitcoin grows significantly. The Bank continues to monitor digital currencies and the risks posed. If several people make transactions exclusively using digital currency, the Bank's ability to influence the needs of this group can be disrupted.

[PitbullP]

Yes, i agree with that. i also think that cryptocurrency can threatens government because cryptocurrency is decentralised, no one can control it. it will be a big threaten to political economy worldwide

[Pattart]

Just many politicians understand-if the cryptocurrency is adopted and the use of blockchain technology starts to work then it will be very difficult to hide something from people.This is the main reason.And there are a lot of secondary reasons.

The problem is, what is that reason?
Politicians itself understand what is going on in bitcoin but when it comes the government they refuse and did not adopt cryptocurrency (strict countries) because of they think that this digital money probably happens that a big competitor in the bank and the government afraid on this.

Come on man, bitcoin and bank are two different functions, both can live side by side without having to drop? I think the main reason
is between fiat vs bitcoin, even the finance minister in my own country talking that bitcoin might threaten the existence of fiat..

[charlemagne_15]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

Governments are threaten by the rising of cryptocurrency. They always against in its regulation or legalizing in some places. Governments banned bitcoin because they see it as a new big enemy of theirs. They want to control everything that is why they aren't in favor of cryptocurrencty because they can't control it. They can't accept the fact that most people prefer bitcoin or crypto over banks.

[strunberg]

Governments want to be able to control the flow of money. Thats how they rule and regulate. They want centalised control systems. Thats why they hate decentraized crypto assets.

this is be their way to attrack taxes from us.and also they want to fully control in exchange and market.but it is hard to di if they didnt legalized cryptomarket yet.

[laravuemaster]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

Cryptocurrency is threat to the government because there are a lot of people today who prefer bitcoins rather than placing their money on the banks, that is the reason why it can change the flow of the economy of a country.

[richmcrich]

I think because the nature of the crypto currency is still anonymous and the government cannot regulate the circulation of this crypto currency, so it might threaten from their country's currency, they are worried if the use of crypto currency is higher than their local currency

Well in my opinion, and from the articles i read on web, the only primary reason why majority of the countries do not accept cryptocurrency is that they have policies which are being formulated keeping fiat in mind like the fiscal and monetary policies which only works when the economy is free of any exogenous factor that affects the market.

Having the cryptocurrency firstly reduce the demand for the fiat and secondly it reduce the circle of the policies to control inflation and unemployment and the development countries have already a very huge scale of problems so they do not look like they give much heed to it.

[Cosbycoin]

The government is trying to make everything under its control, the banks control all the money, and the government controls that banks.
Blocking or restricting is a feature of anything new, new things need time to accept.
The Internet has been a tool for freedom before, but now there are a lot of restrictions on its use, and this will happen to cryptocurrencies.
I do not know why people tend to be controlled? But this is a present trait.

The government has always been in control right from the onset, and something threatening to take that control away from them is absolutely expected to generate concerns for the government.

Policies are formulated daily at the expense of the citizens, monopolies have always been a norm, and all these is a way of them trying to make just themselves and some few sections rich so they can always gain control of how they want things to be, and that is where the whole idea of decentralization is hitting them as that control could be taken away from them.

[BigBos]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

Cryptocurrency is threat to the government because there are a lot of people today who prefer bitcoins rather than placing their money on the banks, that is the reason why it can change the flow of the economy of a country.

the main reason in this case is, because bitcoin, or cryptocurrency seems to threaten a system in some countries, whether it's in terms of transactions, money laundering, or anything else. but I think it can still be avoided by accepting it. sometimes the government only sees the risks, but not the benefits.

[zubrr51]

Cryptocurrency threatens governments, since those economic pillars that governors have been arranging for decades and did not suit the people will break down.

[baconlike]

Because there are quite a lot of money launderers and terrorists funding their governments can not control, so some countries are scared of electronic money. They claim that they are always high risk.

[ricardobs]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

Really, Which community are you talking about? There isn’t much of us that are making use of Bitcoin and every single I’ve discussed Bitcoin with always kicked against it. And by the way, do you ever think of the disadvantages that might take place if Bitcoin takes over our banking system.

Making every digital means putting hacker and web criminals in charge. We haven’t even started and they are already hacking wallets and exchangers websites. I prefer what we are using now.

[missyqt29]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

I think the governments know that the bitcoin is very powerful. They know that the bitcoin can control them. I think that is the reason why some government did not support or allow the bitcoin in their country.

[DPrillio]

Cryptocurrency threatens governments, since those economic pillars that governors have been arranging for decades and did not suit the people will break down.

As for me the only thing that makes crypto a threat to government is becauae there are more people keep on coming to work in crypto and left their corporate job and with that government can't take any taxes from people's crypto earnings.

[coinfinger]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

This is more like a battle between a centralized sector and a decentralized sector and definitely for the fact that centralization has always been the usual right from the onset, there is no doubt that the government will always want to fight back at anything that threatens their territory.

They already believe if the control should drop out from them, it would be a hard thing to ever take back in the long run and all the monopolies, the bullshit policies to favor them, will never be a thing anymore.

[beerlover]

Many states have already legalized the crypto currency, but made it property, not a means of payment. But this did not affect the work of bitcoin. Difficulties in working with crypto-currencies arise only in those countries that have banned the use of crypto currency.

Yeah, a lot of states have legalized it for now and some are simply just quiet about it and I believe their idea of legalization would bring about some form of regulations and then when it comes to making transactions with the use of fiat, there would always be a need for fiat, and that certainly should make it not a threat to the government.

Even when we start hitting the point of real life usage, some of these tools will have a way of sticking with regulatory policies and comply and in that case, being a threat to the government will really not be a problem. If it is a huge threat to the government, we all know the government will frustrate and jeopardize everything.

[hubballi]

Over the years cryptocurrency  has evolved into a global currency but governments are trying to sweep it's relevancy under the carpet. We all know that the eyes of the community are now opened to the importance and blockchain technology.

What baffles me is why are the government making lives difficult by banning or limiting it's use? Is it because it threatens the political power or are they scared it will improve the global economy or force the traditional banks to reduce their ridiculous interests rate which we have been robbed of for decades now.

What is your take on this and what do you think will make governmental bodies to finally accept crypto?

This is more like a battle between a centralized sector and a decentralized sector and definitely for the fact that centralization has always been the usual right from the onset, there is no doubt that the government will always want to fight back at anything that threatens their territory.

They already believe if the control should drop out from them, it would be a hard thing to ever take back in the long run and all the monopolies, the bullshit policies to favor them, will never be a thing anymore.

What you are telling the mindset of Government but they dont know that if they allow cryptocurrency then lot of economy solutions can be found and it will be more profit for the peoples of their country.

[South Park]

Governments want to be able to control the flow of money. Thats how they rule and regulate. They want centalised control systems. Thats why they hate decentraized crypto assets.

True, governments love the banking system because they only need to deal with a few banks and they can control almost all the population because the banks have most of the money of the people, and in case something goes wrong with the economy they can even confiscate all the money by just making a few clicks in a computer screen, but with bitcoin its impossible to do this and that is why they do not like it.