governments vs altcoins

[beaxchange]

Altcoins, even Bitcoin is not fully anonymous. It’s semi-anonymous. And this is why if you control the gates and control the amounts of fiat currency swapped for cryptocurrencies you can track, from that point forward, the route the flow of value takes.

Make no mistake. Governments see cryptocurrencies as a coup d’état against the international banking system. And if you own or trade cryptocurrencies, you are viewed from the establishment’s point of view as taking something that is not yours to take — autonomous control of your wealth.

In 2018 cryptocurrency demand was choked. As Bitcoin supply overwhelmed demand, the price of Bitcoin and other cryptos fell while the big players were quietly accumulating a position.

[Viceroy]

What are you trying to say? The government will be against cryptocurrency until it can control it. Or start a war against cryptocurrency at the legislative level.

[voltesbit777]

I think the governments' concern about altcoins is regarding scams, frauds, and money laundering. These are the primary concerns. The point you had stated is only secondary to these. Banking systems and cryptocurrency systems may exist side by side with exlcusive functions and overlapping functions.

[Fesatmas]

The government has the authority to regulate banking or crypto transactions, it could be that the government regulates transactions that are decentralized and until now there has been no government regulating all of them in cryptocurrency.

[styca]

I think the OP makes a valid point. Whilst it is true that government attemps to regulate or ban crypto is partly due to a need to protect the public's exposure to scams, and to prevent money-laundering etc., it is also absolutely the case that the establishment sees crypto as a threat, which is why so many prominent figures spend so much time trying to discredit it. Crypto will become the standard, and they are all scared that they will lose their position of dominance and control.

[jackflag]

The government may well regulate all processes related to currency.  And it will not allow the collapse of the economy through the unregulated channel of cryptocurrency.

[Jpti]

Yes government has the ultimate authority to control whatever it wants. But in democracy, the government is elected by the people, and what the majority of the people wants, the government does the same. So ultimately, it is the authority of the people to control everything they want. So cryptocurrency is the choice of the people, and ultimately, the government accepts it.

[maydna]

Until now, the government still not accepting cryptocurrency and it's happening in many big countries. But soon, they will realize that cryptocurrency can give a solution for them and they will think about to integrate their system with the blockchain. The government will easy to regulated cryptocurrency because they have the power to do that, and people could only obey the rule if they don't want to be called a criminal. Perhaps, the government wants to launch their own coin but they still waiting for the right moments to release to the public so they will get more attention from them.

[Red-Apple]

you are confusing a couple of things together. for starters the anonymity level that different altcoins offer are very different from each other so you can't talk about them in the same category. there are anon coins like monero that offer full anonymity while there are centralized coins like XRP, BNB,... that offer literary zero anonymity because you have no control and they are centralized.

as for prices, the 2018 bitcoin price fall was a correction of the $20k bubble not because of supply doing whatever....
meanwhile the altcoin dumps of 2018 has been the same pump and dump feature that they have been offering forever.

[rizkyhiw]

I think the governments' concern about altcoins is regarding scams, frauds, and money laundering. These are the primary concerns. The point you had stated is only secondary to these. Banking systems and cryptocurrency systems may exist side by side with exlcusive functions and overlapping functions.

And well, I also think like that where the government always complains about all the frauds and everything that is beyond the possibility of committing crimes, insofar as what I see is really important in the development of crypto today where they try to anticipate all evil in crypto, don't worry about everything because crypto fans are very much and for me is a positive value for the future, the government just wants to get rid of crime in crypto.

[Milamol]

I think the governments' concern about altcoins is regarding scams, frauds, and money laundering. These are the primary concerns. The point you had stated is only secondary to these. Banking systems and cryptocurrency systems may exist side by side with exlcusive functions and overlapping functions.

Governments are unhappy with the presence of a large number of scams in crypto just because it is uncontrollable money, from which taxes are not received. In this sense, all crypto may be unacceptable to governments.
Banks under control. If the cryptocurrency is under control, then no one will object. I think that right now technical capabilities are being developed for control cryptocurrencies (even truly decentralized ones).

[X-ray]

Government has full control on everything, if government wants. Monero is much privacy and secure transaction from Bitcoin, for crypto others altcoins needs support.

Monero, veil and any other privacy coin against the centralization that created by the government but the possibility for government to destroy the privacy protocol is almost zero but what they can do is about to create a very strict regulation to give limitation for exchange site by apply KYC and AML verification.

[quarkfx]

governments to allow crypto as a currency , first crypto should have rules and regulation so that govt can have control over it and simply govt will not allow crypto to be used all will be using for transactions its not about 100 or 1000 transactions  there millions and billions of transaction there are many thing to consider for govt to allow crypto as currency , simply saying govt is against crypto is wrong

[jagaban]

Altcoins, even Bitcoin is not fully anonymous. It’s semi-anonymous. And this is why if you control the gates and control the amounts of fiat currency swapped for cryptocurrencies you can track, from that point forward, the route the flow of value takes.

Make no mistake. Governments see cryptocurrencies as a coup d’état against the international banking system. And if you own or trade cryptocurrencies, you are viewed from the establishment’s point of view as taking something that is not yours to take — autonomous control of your wealth.

In 2018 cryptocurrency demand was choked. As Bitcoin supply overwhelmed demand, the price of Bitcoin and other cryptos fell while the big players were quietly accumulating a position.

I think you are hitting on a popular conspiracy theory as the reason why govenments may want to go against cryptocurrency. The fact remains that the government is aware of the good sides of crypto but there is still a lot that needs to be put in place to ensure that people don't lose their money easily due to volatility or worse still, cyber hacks. These are issues that need to be sorted for regulation to come in

[danielchris]

I think government of any country cannot wants to loss their public. But moreover some countries centralize this currency legally. I hope in future maybe crypto currency unbaned .it's also imagen good sides of seeing by the government.

[kingzpro]

Governments are just trying to somehow control and tax the crypto economy as well as track the crypto transactions which is exhibited by recent crypto regulations from Indian government where they have asked for every crypto holder to also declare his crypto wallet so that every transaction can be tracked and transactions can be taxed as well.

[coinporch]

Governments are just trying to somehow control and tax the crypto economy as well as track the crypto transactions which is exhibited by recent crypto regulations from Indian government where they have asked for every crypto holder to also declare his crypto wallet so that every transaction can be tracked and transactions can be taxed as well.

yes, its all about control and tax to all crypto hodler,, but thats hard to do,
except the governments want to make cooperation with an exchange, because an exchange always have the data from all thehir users

[Ezio_Auditore]

It is already known that many politicians themselves use cryptocurrency for transactions. At the legislative level, they promote anti-currency laws under the pretext of combating crime, but in fact they see a solid jackpot passing by them, which they can not normally control.

[Register13]

government are banning the cryptocurrencies in some countries but we all know cryptocurrency is getting stronger now and governments dont like altcoins because of its volitility but i have the good altcoins that we may invest in and gives us good profits in the future the Dencoin tokens.

[Grishanya1234]

At the moment, the situation is already ambiguous as there are already countries that accept cryptocurrency as a means of paying for certain services. Of course, I understand that cryptocurrency carries with it a decentralization that is disadvantageous to many countries, but I think this problem will be solved.