Why Cryptocurrency threatens governments

[pinoyden]

I dont think cryptocurrency threatens anyone not even governements .  crypto is silently working online independently , people are the ones that  use a cryptos which means they are the ones that threaten the cryptocurrency . infact , cryptos are actually beneficial to all of us because they help our lives to be easy in terms of giving a good and reliable payment service better than any other services out there .

[1715117089]

1715117089

[1715117089]

1715117089

[1715117089]

1715117089

[1715117089]

1715117089

[1715117089]

1715117089

[1715117089]

1715117089

[Cofee.BLUE]

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?

No, cryptocurrency is not a threat at all mainly because government can just shut down the flow of crpytocurrency in their country. If there are too much use of cryptocurrency than the fiat currency well government will take their hands to increase the need of fiat, how? simply banning major used cryptocurrencies. The thing that threatens with cryptocurrency is the security because of terrorism.

[engrawaz]

Simply because governments like to have complete control over everything in our daily lives.

[Nmizu]

crypto never threatened the government but the crypto threatened rotten politicians and corruptors
they will not be able to do what they want corruption because of the openness system in crypto and that is what they don't like until now
Likewise with banks that carry out black campaigns against crypto

[Sarastiche]

Government globally believes cryptocurrency is a threat to the world economy, as government do not have control over the affairs of the space, hence they term it as an Illegal sector, In the near future government globally will wrestle  to own a in the affairs of the space.

[solkinsolali]

... 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 this may probably be one of the reasons. You should know that even our governments too are very selfish and what ever interest the bank charges you, a fraction of it is returned to the government through their central banks.

[bloodyvio]

the government wants everything under their control
whereas cryptocurrency is economic freedom
and of course that is not in line with the government's vision

[Ucy]

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.

No it won't. If they fail to control bittorent they will definitely fail to control Cryptocurrency.. Cryptocurrency is more decentralized than BitTorrent.
Internet is not a good example. It is very centralized Cryptocurrency isn't.

 We should be very worried Howevery . We should be worried because they could totally control/regulate the Internet in order to capture Crypto World. The desperation is there already.

[KS03]

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?

Are you serious?  The governments aka central bankers have a money printing machine which effectively keeps us all slaves and your not sure why they don't like crypto?  Yikes.  What should really keep you up at night is if they are the ones who introduced crypto. 

[Epimetheus]

the government worries that if the crypto currency enters the economy of a country, the government will not be able to control it and can damage the exchange rate of the country's currency, and the transaction cannot be monitored whether it is for good activities or actions that violate the law and harm the country or someone

Cryptoncurrency are decentralised digital currency. Which means their are not under control of any kind of authority or government. And many government doesn't want anything in their country in which they have no control. Cryptocurrency mainly influence an country economy growth by directly affect their country share market. Irregularities in cryptocurrency production and distribution always negatively affects an country economy and cryptocurrency are volatile nature and this thing also affects an country economy. Cryptocurrency untraceable transaction is the main reason behind many criminal activities and for this reason many government ban it in their country. Due to cryptocurrency digital nature it does not pay any tax to the government and this thing also affects an country economy.

[taeewo]

cryptocurrency is risk and it's a threat to the government because of the decentralized nature it was created for, regulations is only the solution to reduce such risk by the authority.

[beerlover]

Another crypto-threat-to-government thread.

governments will never be threatened by cryptocurrencies as they could easily reject and prohibit their people from using it. Like what they do on middle eastern countries where they blocked porn sites.

If bitcoin can't be regulated, chances are it won't be accepted in the country because according to some politicians "it's not safe and secured"

Well, it is not like it can’t be regulated, but to what extent can it be regulated. We are talking about something global here and the fact that it is decentralized makes it very hard for the government to clamp down on activities surrounding it.

Nevertheless, if they really want to regulate it, it is still easy since as it is, people will always need to spend in the long run, or simply convert to fiat and then the exchanges become regulated and that is it.

Hence, it depends on each individual the transactions they want to make. However, we all know that the decentralized world gives freedom to the users and take control away from the government, and government do not like that, coupled with the fact that people might start evading tax or trying to do shady stuff, but all these can be curbed with regulation.

[magneto]

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 that there are definitely some governments who have been pretty hostile towards bitcoin. But there are also some that are looking to regulate bitcoin services instead of banishing them from their nation, which should be acknowledged.

Anyways, I think that there are two main reasons why some governments decide to be hostile with their policy towards bitcoin.

Firstly, as you mentioned, some may think that bitcoin takes away control from them over the economy (which bitcoin really isn't able to do at this scale). But I think more importantly, some think that it's a threat to capital flight, and in countries with strict capital controls such as Iran, it's a huge worry for them.

[Wexnident]

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 main reason why the government are quite threatened by the cryptocurrency is because of its global capability used to transact internationally buying stuffs like guns and weapons for terrorism. Also for the financial system they built and we are using in the real world, it threatens the use of fiat currency due to improving relevance of cryptocurrencies.

[parapencariuang]

in my opinion, why is the government always complicating digital currencies, because the government is still analyzing the system and performance of bitcoin, the government is still wary of bitcoin prices that are fluactive so that it is difficult to control bitcoin prices that are always changing in an instant

[meanwords]

I've read that the government doesn't really care much about Bitcoin when it comes to control because Bitcoin still relies on Dollars. I think the only thing that government hate is frauds and scams. Since cryptocurrency is anonymous, the government would have a hard time finding out the real culprit behind those projects.

[wildey]

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.

I don't know, some governments feel that cryptocurrency is a dangerous system in terms of transactions, or other negative things. but, I feel that cryptocurrency does not threaten the government, because some countries support this development.

[SaturnBay]

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?

Because they can't control cryptocurrency, what will you do when you can't control something? Kill it or ban it. They can't kill Bitcoin (it's really hard to kill bitcoin), so they ban it (easy way, no more headache)

[tosmartak]

cryptocurrency is risk and it's a threat to the government because of the decentralized nature it was created for, regulations is only the solution to reduce such risk by the authority.

The risk is something that cannot be changed as it will always be there. Even with regulations, that will never change the government from still feeling threatened about the whole decentralization aspect of things. They have always been in control, and they want to keep being in control, now this is taking that control away from them and even with regulation, there is a limit to the control they can have, so in a way, being threatened will remain for them.

[parapencariuang]

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 government is only afraid that cryptocurrency will not be able to control the income and expenditure of the country, so they cannot ensure that the cryptocurrency is suitable for use in the country or not. but not all governments do not allow cryptocurrency, because they also know that someday their country will need it