Why Cryptocurrency threatens governments

[Eyjeyy]

Maybe because bitcoin allows convenience to the people as it uses a way of transactions. Hence, different banks and wallets are having not taking control to any transaction online. Moreover, bitcoin has no direct tax and it affects to the taxation of one's country.

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[cahbagus555]

Government always want to control their currency. Like what happen in paper money, government want to control bitcoin supply and data transaction. It will not happen because bitcoin is decentralized cryptocurrency thats why government dont like with bitcoin

[Foxgtx]

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.

I agree with you!
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?
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.

[cryptoalfs76]

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?

The worlds Government have there own explanation,why they afraid to accept crypto as a legal basis and part of the world economic development,and one things that i know are the threatens or shaken to them thats this cryptocurrency can be used into some illegal activities and fund for terrorist activities or drugs syndicate,because its only a figures thats never been seen by the government,and one things also they would not benefited the taxes thats come from digital currency income.

[LuciferEveningStar]

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 can really threaten the government since most of the people today prefer cryptocurrency more than placing their money on the banks which decreases the fund of governments since they get money from taxes.

[naily]

I think this is part of the negative news about bitcoin and other crypto currencies, crypto currencies do not threaten the economy of a government, precisely with the existence of bitcoin many investors enter the crypto currency business, and this will certainly have a positive impact on their country's economy

[Nila soru]

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 my opinion the reason that governments fear that people will put all their money in bitcoin and Altcoin and public and private investment schemes will have no more investment and the development process of the country will be affected. There are many reasons that governments all over the world do not want to promote cryptocurrency.

[yitzjoe]

the fear of the government is to lose control of the vital sector and this they will continue to defend by making opinions, appeals and bans on crypto. Crypto they consider will change the system they have arranged neatly into another wild form. but other slow people will understand and realize the importance of crypto for them, how strong the government will hold it will eventually be destroyed in time

[Mytoken]

I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!

[Yadamosan]

If the crypto currency entered the transaction of the country and if peoples like this they will support it. Then if the crypto currency got grow, the government will worry because they cannot controll this beacuse this is not on their business. Illegal or not they don't have the rights to enter this transaction but they can remove this on their country.

[Dod Ong]

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 know that the bitcoin is very powerful. The bitcoin can control the government that's why some country did not allow the bitcoin to use in their country because of that threat. I think it is the main reason why some of the government did not support or allow the bitcoin in their country.

[TranTrongit]

Yes.  crypto is threatening the power and dominance of the government.  If crypto is widely accepted it will cause a series of banks to go bankrupt and disappear.  Most of the banks are government.  If the bank disappears the government loses its rights.

[Johnyz]

I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!

Controlling the market is the issue here, cryptocurrency is not threaten any government its just so happen that some government sees this technology as threat to their personal interest and also with their business. We must not be intimidated by the movements of every government just keep on buying good coins and later on cryptomarket will be accepted anywhere.

[TheDangerousBoy]

The legal status of bitcoin is still undefined or changing in many of countries, some countries have explicitly allowed meanwhile the other country have banned or restricted it. I think if the crypto currency enters the economy of a country, the government will not be able to control for now (for a few countries) and people (goverment) are afraid of the unknown. Also, there have been many actions against Bitcoiners in some country, where Bitcoin is already seen as a threat to traditional value system and that's why cryptocurrency threatens governments.

[Kemarit]

I think most governments ban cryptocurrencies because the cryptocurrency market is too chaotic and cannot achieve complete control!

Controlling the market is the issue here, cryptocurrency is not threaten any government its just so happen that some government sees this technology as threat to their personal interest and also with their business. We must not be intimidated by the movements of every government just keep on buying good coins and later on cryptomarket will be accepted anywhere.

I don't get it, threat to their personal business?

It still boils down to control. Let's look at those countries who banned or at least hostile to crypto. Take for example China, initially we enjoyed their support on crypto and we could say that they are one of the first country who help bitcoin take off. However, when things went out of control, they need to step-up and curb the risk that it may disrupt the countries financial stability. And the reason that crypto is a tool for criminals activities like money laundering or illegal fundraisings blah blah is non-sense, they just used it as a cover up as reasons to legitimized their crackdown.

[anti76]

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.

[jhongzjhong]

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.

[Escan0r]

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?

The crypto currency cannot be controlled by anyone, so many governments do not accept the crypto currency in this world. Although there are still those who accept it to facilitate their country.

[Gabali126]

I don't honestly believe that cryptocurrency really threatens the government. The government in my opinion oppose crypto due to the scams that are associated with it.

[South Park]

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?

All the arguments that you give above are the reasons of why governments do not want to accept cryptocurrencies, satoshi created something that benefited the individual and not society at large, it is obvious that if an individual benefits from something the society also benefits from it, but the focus of satoshi was on the individual and cryptocurrencies take away a lot of power out of the government and banks and if there is something that they cannot tolerate is to lose their power, and that is why they are against it.