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We know that cryptocurrencies are so good, so why are so many governments don’t like it?

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The reason governments reject cryptocurrencies, although they are useful and have great advantages, because they are decentralized and governments cannot track or control them

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Thanks for your sharing, I know that governments in many countries don't like cryptocurrencies and ban activities related to it. They fear being threatened by cryptocurrencies

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The key to its success is the so-called blockchain. One way to solve the problem of double spending is to blockchain: The reason is that as soon as the currency is digital, it is duplicated and spent more than once.

However, blockchain is a digital ledger, in which every transaction (called a block) is securely linked through encryption and encryption. It's verifiable, available to all bitcoin owners and unlike central banks protected from fraud and piracy.

This allows for a live chat with anyone and processing transactions with a digital wallet (which can be stored on the phone).

If virtual currencies are so good, why are there so many governments behind the peso? The Chinese government has begun a crusade against bitcoin. In India, the situation is not very different. There are more examples. Why?

Potential benefits of real cryptocurrencies. Governments all over the world are full of debt. Many of these people will not be paid. Brazil (my country) is not an isolated case. Social security is a serious problem in Europe. Governments have promised worlds and funds. But its population is increasing. In the meantime, fertility is declining. The account will not close

Governments can issue money directly. They can finance their loans through cash printing. It's a different kind of mockery. The trick is inflation. You have $ 90 in your wallet today. With this money, buy ten packs of chips. If the wafer package costs double, you will still have $ 90 left in your wallet. But the purchasing power will be reduced by half.

What if I have a public loan instead of a $ 90 bill (or deposit)? In developed countries, public debt is not calculated. Therefore, the problem of inflation works to solve the problem.

But in other cases (like in Brazil), indexing can happen. Therefore, government bonds pay inflation up to + 1%. How to pay off this debt? It's just a law that changes the rules to correct the address. Or provide a compulsory loan. Or frozen reserves. Or make a painting. There will always be a skilled economist and a good modern lawyer to wrap the fish. 

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On 10/18/2019 at 8:20 AM, dentolas said:

I think the problem goes further than just tax... we cant forget that governments are one part of the system, they are the ones connected to the central banks that print the bills and control the system...

If you introduce the possibility of people dealing with their money and finances without the need to believe on their printed bills, this can introduce a bug in the system that might propagate...

It is all about money, but also control

You know one of the reasons governments are not keen to implement cryptocurrencies in their countries is the fear of transparency that would entail. Much as governments wants to be able to follow individual accounts, they themselves are unwilling to have theirs looked into or declare the full assets and they understand cryptos won't support fraud.


 

 

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It is good for us because we are earning by using crypto. But government is not getting any benefit from this as they are not able to deduct tax which is not making any advantage to the government. 

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9 hours ago, bentayebsalah said:

The reason governments reject cryptocurrencies, although they are useful and have great advantages, because they are decentralized and governments cannot track or control them

Yes, your words are correct. The reason governments refuse cryptocurrencies, although they are useful and have good advantages, is that they are decentralized currencies


 

Life is great and enjoy it

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i think they don't want cryptocurrency because the ups and downs of bitcoin in the market so they have doubt that they can't handle the demands and members using..but if ever it will increase again and if bitcoin price value will be stabled then they gonna take cryptocurrency as one of legal currency to all countries..

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On 10/9/2019 at 8:22 AM, phabulu said:

If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “value” through the inflation “tax”

 

The key to its success is something called the blockchain. The blockchain is a means of solving the double-spending problem: which is that because the currency is digital it is open to being copied and spent more than once – something banks stop with physical currency.

However, the blockchain acts as a digital ledger, whereby every single transaction (called a block) is securely linked together using cryptography and encryption. It’s verifiable, available to everyone who owns Bitcoin and is immune to fraud and hacking – unlike centralised banks.

It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.

If virtual currencies are so good, why are so many governments with the flea behind their ears? The Chinese government is embarking on a crusade against bitcoin. In India, the situation is not much different. There are other examples. Because?

The potential benefits of crypto-coins are real. Governments around the world are full of debt. Many of them will hardly be paid. Brazil( My country) is not an isolated case. Europe has a very serious social security problem. Governments promised worlds and funds. But their populations are aging. And, at the same time, fertility is falling. The account will not close.

governments can issue money directly. They can finance their debt with monetary printing. It’s a default of a different kind. The trick is inflation. Today, you have $ 100 in your wallet. With that money, buy ten packets of a wafer. If the price of the wafer package doubles, you will still have $ 100 in the wallet. But your buying power will fall by half.

What if you have a government debt bond instead of a $ 100 bill (or deposit)? In developed countries, government debt is not indexed. So inflation works, solve the problem of the Treasury.

But in others (as in Brazil), there may be indexation. Then the government bond will pay inflation for the period + x%. How to pay off this debt? It is only passing a law changing the rule of correction of the titles. Or make a compulsory loan. Or freeze deposits. Or make a board. There will always be a cunning economist and a good talk advocate to wrap the fish. And it’s not just in Brazil!

This is where the magic of cryptos begins to function. If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “default” through the inflation “tax”. State tricks do not work with bitcoin.

The full post is available on my website:

http://mundodascriptos.online/index.php/2019/08/28/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-dont-like-it/

 

Do not forget the rules for creating topics (topics begin with a capital letter)
Moderator Desais👮‍♂️

 

Thanks for your kind opinion. Crypto currency is liked by every one but government banned on crypto currency because if government allow the crypto currency then they face many problems suddenly so government want to solve these problems whose related to crypto currency.

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Hello friends in this questuon my answere is .

If people use bitcoins intead of the state currency the government can not tax them or gave a value through the inflation tax .thanksss 

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Exactly we know that cryptocurrencies are going good but there are some internally reasons which are restricting cryptocurrencies in some of the countries such governments are not willing to accept it as for the safety measures.

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It is really an important article! I think governments will accept bitcoin and cryptocurrencies during the next few years, and will set up blockchain projects for their stable currencies, as this represents a great solution to the problem of counterfeiting currencies.

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Yes we know that cryptocurrencies are so good, and there so many governments don’t like it because still is not perfectly developed to be adopted by government on their full sectors, first of all needs to be tracked to avoid any illegal use.


 

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They are afraid that people will become financially independent and will be able to earn money without routine work and not pay taxes.

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So many illegal transactions are done using crypto currencies, and with the constant fluctuations in the prices of crypto it serves as a threat to a nation's economy, so most countries are banning it.

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I think because they absolutely have no control over it , that why they are afraid of losing their power, their control over his people!

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Well they can not control bitcoin so that's why many government don't like it. Some government think cryptocurrencies can use illegal activities like money laundering, funding terrorism just like that.


 

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It must always be taken into account that it is a problem for governments not to be able to have control of certain things such as money entering or leaving, or even taxes, but sooner or later they will support these assets

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Well, governments are afraid to cryptocurrency so that they are not totally accept it because they can't control all people to their place by using this to illegal activities like gambling, using as a payment un black markets and so on.

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Cryptocurrencies are extremely good but the things is that they are only good for the people. Cryptocurrencies have been created to work for people against governments and thats the answer to your question 

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Crypto currencies are decentralized peer to peer payment method which is controled by the owner. User has all the authority , and this lack of authority is the main reason why Governments are afraid of crypto currencies. 

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A great article, I suspect that some governments opposing Bitcoin and cryptocurrencies are finally accepting it, such as China and India. In the Chinese President’s statements, we find that Bitcoin and the cryptocurrency industry in China will be legislated soon.

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The main priority why governments don't want to accept cryptocurrency is that if they accept that then the task given will go lie and they not get money as they use to get before that has been a problem to them

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On 10/9/2019 at 8:22 AM, phabulu said:

If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “value” through the inflation “tax”

 

The key to its success is something called the blockchain. The blockchain is a means of solving the double-spending problem: which is that because the currency is digital it is open to being copied and spent more than once – something banks stop with physical currency.

However, the blockchain acts as a digital ledger, whereby every single transaction (called a block) is securely linked together using cryptography and encryption. It’s verifiable, available to everyone who owns Bitcoin and is immune to fraud and hacking – unlike centralised banks.

It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.

If virtual currencies are so good, why are so many governments with the flea behind their ears? The Chinese government is embarking on a crusade against bitcoin. In India, the situation is not much different. There are other examples. Because?

The potential benefits of crypto-coins are real. Governments around the world are full of debt. Many of them will hardly be paid. Brazil( My country) is not an isolated case. Europe has a very serious social security problem. Governments promised worlds and funds. But their populations are aging. And, at the same time, fertility is falling. The account will not close.

governments can issue money directly. They can finance their debt with monetary printing. It’s a default of a different kind. The trick is inflation. Today, you have $ 100 in your wallet. With that money, buy ten packets of a wafer. If the price of the wafer package doubles, you will still have $ 100 in the wallet. But your buying power will fall by half.

What if you have a government debt bond instead of a $ 100 bill (or deposit)? In developed countries, government debt is not indexed. So inflation works, solve the problem of the Treasury.

But in others (as in Brazil), there may be indexation. Then the government bond will pay inflation for the period + x%. How to pay off this debt? It is only passing a law changing the rule of correction of the titles. Or make a compulsory loan. Or freeze deposits. Or make a board. There will always be a cunning economist and a good talk advocate to wrap the fish. And it’s not just in Brazil!

This is where the magic of cryptos begins to function. If people use bitcoins, instead of the state currency, the government can not “tax” them or give a “default” through the inflation “tax”. State tricks do not work with bitcoin.

The full post is available on my website:

http://mundodascriptos.online/index.php/2019/08/28/we-know-that-cryptocurrencies-are-so-good-so-why-are-so-many-governments-dont-like-it/

 

Do not forget the rules for creating topics (topics begin with a capital letter)
Moderator Desais👮‍♂️

 

Hello my dear friend. In my opinion it is because government think that adopting crypto currency will have a bad impact on their countries economical growth. There are various other reason. 

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Governments don't like it because they can't collect taxes from people in crypto technology and they can't track the transaction. They can't implement any law on it.

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The cryptocurrency is good yes but the reason why some of the governments doesn't what to use them its because they can not control it like fiat and that makes them impossible to collect taxes from its users and in this way it can also affect the economy because taxes are used to balance up the economy of the country and its vital to collect them.

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