Why Cryptocurrency threatens governments

[Ozero]

Cryptocurrency is a threat to government because fiats are centralized, and cryptocurrency offers decentralization which will eventually make government lost control over money.

The decentralization of cryptocurrency is one of the main problems that governments in cryptocurrency do not like. Such for the government is of great importance that the cryptocurrency does not have its official creator from among the states, is generally not supported by anything, is not supported by anyone, has a very large volatility. In addition, the cryptocurrency allows you to transfer cash flows to anywhere in the world without any control from the states.

[NynaHoney]

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

No,they are not protecting us from restricting crypto currencies from their usage they just want to restrict the new technology which can give us freedom to use money as we want and will reduce the revenue to the governments that is why they were trying to ban cryptos.But some countries banned ICOs not the crypto currencies which maybe in the cause of they want to save their citizen from falling into scam.

obscurity and instability of crypto values have made the government not dare to take further risks. with regulations and too many types of ico and other crypto investments that are global in nature and cannot be monitored by local government.

on the other hand crypto is able to inspire people to change and move away from fiat slowly, and if this continues to be left it will weaken fiat even with rules that are not proactive towards real developments.

[STT]

But some countries banned ICOs not the crypto currencies which maybe in the cause of they want to save their citizen from falling into scam.

Its reasonable to restrict deception and criminality but not the idea of risk and reward because that is the nature of capitalism, it has to involve losses to some as alot of ideas are tested and found incomplete or incorrect.   It requires open competition and the ideas are not regulated by a central authority or we would never have allowed the idea of crypto to begin with because who would guess it would be this successful a decade ago.   Only very few saw that potential, you have to allow these people to take that initiative and suffer or gain from that venture.
   Society loses overall if we presume only the largest business is safe to allow, government can be a burden on the very smallest enterprise so its a delicate balance imo

[Ranly123]

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?

It is not that the government is threaten by cryptocurrency. It just happen that cryptocurrency is uncontrollable by any authoritarian bodies which they cannot guarantee the safety of their people. They can't afford to take the risk of a volatile currency for the safety of the funds of their people.

[ToyotaFortuner]

maybe because the influence of the technology owned by bitcoin that makes many transactions can be recorded neatly and all transactions can be seen by all people so that it will make bitcoin a threat in the government.

[supine]

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's purpose is for everything to be decentralized. With crypto people can transact faster, with convenience and ease. Government controls everything, they have control over the bank, and banks control money. They have no power over crypto, all they can do it ban it.

[serjent05]

Everything that you said is true. Agree much and in addition to that, they are too envious and angry that they cannot dip their hands on it for corruption. They dont have the chance of benefitting from it. I look at it as funny, government always play superior over everything but they cannot rule over cryptocurrency totally. 

[mornabo]

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

Nope, the government just hasn't found a way to control crypto users, thats why the government is against crypto. if the government
finds a way to profit from crypto, such as taxes. it is certain that the government will legalize it and make regulations for crypto

[Leoeco]

We need to control the use of cryptography in crime, But I think Government shouldn't fundamentally hinder decentralization.

[Finn Bery]

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.

I totally agree with you. Since cryptocurrency are decentralized, people tend to use it for transaction rather than bank. It will directly affect to bank and government.

[iged_war]

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

actually this is main purpose government.they need to protect their citizen  from suffering fake investment portofolio.since many ponzi scheme harmed investor, they need to do this.

[jaja colleen]

Cryptocurrency is decentralize and the government cannot control with it that's why it is a big threat to them,because they see that many people now are abusing using Blockchain technology so the government want to protect their people to avoid scam and money laundering.

[Bunsomjelican]

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 just don't know if the topic question is right or not there must be other right term for it maybe.. Because, if some government are afraid of cryptocurrency or it threatens them for real, why some other country made a decision to regulate it to their own territory if it is really a threat? like for example JAPAN digital currency/virtual has been already adapted in this country. This is showed that there is no threat in crypto currency, it is only in the mind of the official in the government, am I right for this thought?

[clololck]

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

[Schmidt Abrams]

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?

Cryprocurrency can threaten to government because cryptocurrency will soon replace fiat. No fiat, the government can not run a country and control the economic system. I'm sure that the government don't want this happen. that is the reason why the government always try to ban cryptocurrency all over the world.

[zhelis74]

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

[zhelis74]

This is a very new idea. Bitcoin was born out of the idea that the success of cryptocurrencies will quickly change the world. The government will lose some control over the economy. Although the market is more free, it may have a fatal impact on the traditional economy. But people's development is always fast.

I think  being decentralized system is the reason why crypto currency was not yet fully supported by every government because the fact that the income from every individual was not being taxed for they can not take control on it amd if more poeple working on crypyo then that is the time that it will threatens country's income taxation.

[pragna]

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.

I think there is no political power or scared in BTC banning. On the other hand traditional banking is no problem as when maximum flow of BTC will allow by mass people government will agree to broke traditional banking. I think government thinking as they could not trace transaction of BTC so BTC may misuse in buying Guns or any other corrupted things. This may be threatens govt.

[toast]

in my opinion cryptocurrency does not threaten anyone especially the government and in my opinion cryptocurrency is created to meet the needs of an economic system that uses technological advancements and developments in the era of the good cryptocurrency depending on the intention and purpose of the investors themselves

[Quidat]

I would like to believe, they just would like to protect us, the citizens, because of the potential risks, this market has. With all the scammers, volatility, … But for many countries, I am sure that free tranzactions through borders is also not sympatic.

No,they are not protecting us from restricting crypto currencies from their usage they just want to restrict the new technology which can give us freedom to use money as we want and will reduce the revenue to the governments that is why they were trying to ban cryptos.But some countries banned ICOs not the crypto currencies which maybe in the cause of they want to save their citizen from falling into scam.

To those who believe that bitcoin is still a scam, screw them they just a bunch of newbies who doesn't want to learn a new thing because all they want is just what is given. Government somehow are helping to improve what's new in technology and they cannot ignore this new technology because it is rampant all over the place. That's why they were making new rules and regulations to somehow control they money that is being traded with any cryptocurrencies.