Why Cryptocurrency threatens governments

[Brunus]

Once I believed it too, and I really hoped that crypto could serve to create a different world.
In fact, bitcoin does not seem to spread, and although it is certainly possible to make good profits - it will hardly change the world as we had hoped. Patience, it will be for another time.

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[tartibaya]

Governments are as strong as their economies. The state is the guarantor of everything on its territory. Blockchain takes this guarantor power from the state. States are afraid of this. I think it is a dangerous economic model for the existence of states.

[princesspoppy]

It is simply because the government wants to take control of everything - most especially, money. Government see the threats crypto currencies offer to people using it. Controlling someone's money and assets, the freedom of doing/making their own transactions without tracking of the government. These are some of the reasons why the government bans and does not want their people to use bitcoin and other cryptocurrencies.

[FanatMonet]

Each state receives huge money from issuing its own currency, because the cost of producing 1 banknote in the United States is about 10-20 cents, with a par value of at least 1 dollar.

And not a single state, of its own free will, will refuse such income, this can explain all claims to cryptocurrencies.

[angrynerd88]

I think now government must awake and accept that modern technolgy and digital medium of exchange is good for the economy,Blockchain technology getting more popular around the globe and the developed countries see it as future platform for financial markets.If government allow crypto and start own digital currency help of central bank can generate revenue from many platforms of crypto.Also bound the vendors use only own country coin it will help the to make strong economy.

[ScamViruS]

Government wants everything under its control. Government want to control people’s money of his country. But if Bitcoin is used by the public, it can no longer be controlled. The government is worried about this. They think that using bitcoin will have a bad effect on their economy. The government does not want the public to use any other money independently. I've seen it before that something new actually has many restrictions.

[USBitcoinServices.Com]

The reason is that crypto is backed up by mathematics, algorithms, and computers, FIAT money which is controlled by governments are basically backed up by politicians, centralized banks, only a few people behind ruling FIAT money.