Governments against privacy-oriented cryptocurrencies

[Febo]

Nonetheless, let's hope that privacy coins like Monero and Zcash, will survive for a very long time. As long as most governments support them, there should be nothing to worry about. Just my thoughts

Most people and most governments and regulators will support over transparent ledger cryptocurrencies simply because hidden wealth is most secure wealth. With expansion of transparent ledger cryptocurrencies that we will see in upcoming years we will see a lot of troubles that they cause.

[Abiky]

Governments are always interested to control its citizens, I thought it was no longer a secret for anyone.  So attempts to restrict the usage of privacy-oriented coins are absolutely expected, but I do not think that they will succeed in completely banning their use, because no one can restrict p2p transactions and decentralized exchanges

Maybe governments won't be able to stop the widespread usage of privacy-oriented cryptocurrencies, but they could restrict their growth in many ways. As worldwide governments reach a common agreement to put an end towards criminal activity related to such coins, the development of the space will stale by a large margin. Still though, it'll be difficult to achieve a full crackdown on privacy-oriented cryptocurrencies because of their distributed and decentralized design.

Even if governments find a way to cease the usage of privacy coins (at least for the time being), people will always find alternative ways to use them. With P2P trading, decentralized exchanges, and more, it's widely possible to continue using these cryptocurrencies without restrictions. But, everything will depend on the people themselves, whenever they will continue to adopt privacy coins like Monero and Grin or not.

In the end, transparent cryptocurrencies like Bitcoin and Ethereum will always be admired by governments worldwide, while privacy-oriented cryptocurrencies will become an alternative payment system for people worried about massive surveillance from the government. But be aware, that privacy-oriented coins won't gain as much support and traction from the general public because of the misleading reputation given by governments themselves. Just my thoughts

[Twinkledoe]

Nonetheless, let's hope that privacy coins like Monero and Zcash, will survive for a very long time. As long as most governments support them, there should be nothing to worry about. Just my thoughts

Most people and most governments and regulators will support over transparent ledger cryptocurrencies simply because hidden wealth is most secure wealth. With expansion of transparent ledger cryptocurrencies that we will see in upcoming years we will see a lot of troubles that they cause.

But privacy coins can still get a large following or supporters. Those who really value their privacy will stick to these cryotocurrencies so the government can't do anything about it. In the long run, it will survive because it already created a strong fan base that they will support this type of coin all throughout.

[BeginToMine]

The more Governments around the world try to restrict Cryptocurrencies, the better i people get at hiding their activities, thankfully Cryptocurrencies are decentralised.

[odukoyaewatomi27]

I think privacy cryptocurrency coins are the ones that really serve the purpose of cryptocurrency because they are decentralized and private. the government are against cryptocurrencies because they cannot monitor and evade on our privacy like they do with centralized networks. but the truth is that crypto is beyond them and they cannot stop it.

[bitcoindusts]

We can see that the future for cryptocurrency is getting dimmer. If governments try to terminate privacy coin because they will not be able to have their share of tax from it, tightly regulating public coins like bitcoin and ethereum will also be making it hard for investors. It will also be killing public coins little by little and making it difficult for investors to cope up with and for crypto exchanges to comply with those regulations, thus resulting to more and more exchanges shutting down.

[crenfrosck]

This is kind of a short-sighted belief. Even with an intent to “criminalize” those private coins government can not stop people from using them entirely. Their official status might be controversial, but its positives are playing a big role for people who want to hide their transactions from the BB. Who knows, if the supply is going to be reduced by central authorities, its value might pump up.

[Perfect35]

Governments are concerned about seeing how transactions are done. Block chain technology is meant to be transparent, so doing that which hinders a lot of info, shows that their concern is being affected and it is not meeting their demands. With such happening, there will be a lot of condemnations from them

[Febo]

Nonetheless, let's hope that privacy coins like Monero and Zcash, will survive for a very long time. As long as most governments support them, there should be nothing to worry about. Just my thoughts

Most people and most governments and regulators will support over transparent ledger cryptocurrencies simply because hidden wealth is most secure wealth. With expansion of transparent ledger cryptocurrencies that we will see in upcoming years we will see a lot of troubles that they cause.

But privacy coins can still get a large following or supporters. Those who really value their privacy will stick to these cryotocurrencies so the government can't do anything about it. In the long run, it will survive because it already created a strong fan base that they will support this type of coin all throughout.

Fro PoW crypto currency to die, specially the one that cant be ASIC mined is really hard. You can see 1000 cryptocurrencies right now exist without any use case and any hope it will ever have and use case. All you need is one guy mining it and it works.

[CoinsOrDie]

Apart from having a statutory control over cryptocurrency by governments, the onus is only on them to check mate money laundering and the purchase or smuggling of prohibited items into their respective countries. This they believe helps them fight crime. That is why crypto IEO and exchanges demand KYC for certain transactions

[wattcrypto]

Of course governments are going to be against privacy coins because they aren't able to outright track and trace. That's why I think companies like ciphertrace who are pushing for proof of knowledge identity protocols to be implemented will help bridge the gap between governments and the crypto community

[Baihaki Khaizan]

it seems that the dynamics of crypto currency continue, I think the government has excessive anxiety and only sees negative impacts without thinking about the good side. but I am sure that as the world progresses everything will go well as well as the dynamics that occurred during the barter period to the first currency system.

[OneCoinMan]

Are you sure this is a serious problem today? Think about what percentage of people today use these technologies to solve everyday problems? The state begins to panic when it is forced out of the market  . Today, fortunately or unfortunately, the goverment is a monopolist in the field of money.

[letyouearn]

I think when the time comes the governments will control/ban all the cryptocurrencies that won't cooperate with them - not only the most private and anonymous. So, now it's time to earn some cash with these coins, while it's possible. This hype will end soon I bet, maybe even this year.

[Abiky]

We can see that the future for cryptocurrency is getting dimmer. If governments try to terminate privacy coin because they will not be able to have their share of tax from it, tightly regulating public coins like bitcoin and ethereum will also be making it hard for investors. It will also be killing public coins little by little and making it difficult for investors to cope up with and for crypto exchanges to comply with those regulations, thus resulting to more and more exchanges shutting down.

Unfortunately, that's the truth cryptocurrencies are facing right now. Most governments have been somewhat strict towards the future development of crypto and Blockchain tech, mostly because these technologies give power to the people. Since governments aim to achieve power and supremacy over its citizens, they're capable of doing anything to prevent revolutionary technologies like Blockchain from becoming widely adopted by people in the mainstream world.

Transparent cryptocurrencies like Bitcoin and Ethereum may have been approved by most governments worldwide because they're easier to tax than privacy coins. But, if such cryptocurrencies become a threat to the government, they'll be stopped at all costs in the same way as privacy-oriented cryptocurrencies like Monero and Grin. There's no other way around it. Even if governments successfully ban the use of cryptocurrency, they won't be able to take down the Blockchain no matter what. Thanks to the distributed and decentralized design of Blockchain tech, cryptocurrencies can continue to be secretly adopted by people in the mainstream world using other means. Given how big the crypto industry has grown nowadays, there are various networks and alternative Blockchains which allow people to circumvent restrictions imposed by the government (like the TOR network, the i2p network, decentralized exchanges, etc).

Which is why, I believe that privacy-oriented cryptocurrencies will continue to be supported and used by many people worldwide. Of course, transparent cryptocurrencies like Bitcoin and Ethereum will have the most amount of users. But, privacy coins will serve as an option for people looking for true freedom and unparalleled privacy. Nonetheless, the future of privacy-oriented cryptocurrencies will largely depend on the people themselves. Just my thoughts

[Little Mouse]

If you think from a govt side, this is true and privacy cryptpcurrency must not be survived. However, in a decenttalized era, I don't think people will feel comfortable to share their financial activity with govt. I too support using privacy oriented currencies. With bitcoin and the US currency (in fact all traditional currency), people are still doing illegal activities. So, what's wrong with privacy oriented cryptocurrency?

[Galley]

The government by any means will seek to gain control over financial flows that can be used in not-so-legal transactions and, moreover, cannot be tracked and blocked. Therefore, we are waiting for the regulation of cryptography sooner or later, and it does not matter for the good we work with cryptocurrency or for evil.

[Hueristic]

The inception of privacy-oriented cryptocurrencies like Monero, Zcash, and Dash, has revolutionized the way we transact on public blockchains. Whereas everything is transparent in Bitcoin, privacy-oriented cryptocurrencies obfuscate sensitive transaction information. Now, cryptocurrencies like the ones mentioned earlier, have increased exponentially in price over the past years.

However, the very existence of these cryptocurrencies could be threatened over the long term, as most governments have been oppressive towards the growth of crypto and Blockchain technology in general. The US has been cracking down on exchanges and tokens with the SEC, and it's only a matter of time before it hunts down privacy-oriented cryptocurrencies too. After all, the excuse of governments is that privacy coins encourage money laundering and criminal activity. While this is true in part, their main intent is to prevent ordinary people from gaining access to fully private cryptocurrencies like Monero and Grin.

Nonetheless, it may not be long before many governments turn themselves against privacy-oriented cryptocurrencies. Since governments want power over people's transactions, a privacy coin like Monero turns the tables against them. Hence, only transparent cryptocurrencies like Bitcoin and Ethereum will survive in the long term as governments support them in every way (as it's much easier to track and tax them).

What are your thoughts about this?

Define Survive, did you actually mean to use the word flourish?

[necromastery]

Governments are against everything that do not provide them taxes and revenue, privacy coins being anonymous and un trackable are the most troublesome for govts that want to track transactions, generally govts are against all coins but they cannot do much about them, even the fiat backed stablecoins like libra is not being supported or encouraged by govts rather they want regulations and taxes and control over them.

Because I have been in the crypto world for quite a long time, for me it is not surprising if I hear that the government is not very familiar with crypto currencies. Even in a short amount of time we can find out how much the government despises a transaction and people whose wealth cannot be traced.

[Doranile432]

Yes i expect the government to be against privacy coins because they believe it will be a dangerous tool for money laundry and other bad things so government wont be able to have control over it,this is one of the reason i think privacy coins will be the most popular cryptocurrencies of the future