So guyz,
I don't have a master in crypto But I have some doubts.
I have seen many people saying that countries banning crypto are just smashing hammer on their own foot.
But my Qes is why a Govt should not try control money in that country?
----My thought is most countries don't really know how to control the transcation or keeping track of cryptomarket, so for time being they want to control it by banning it till they develope a plan.
----I didn't hear any county saying that they don't support bloackchain, Many of them are working on blockchain.
----If a country can not track the money of their people than how can they take responsibility of its people safety?
----If someone pays money for illegal activity from banks, that can be tracked, but tracking crypto is impossible for them right now.
----That was just one of the scenerio
So What are your thoughts?
PS- I am not saying crypto should be banned, I just want to know where Govt. are going wrong?
My opinion in this is that the governments are just neutralizing the flow of fiat money. Big trades in crypto creates deflation in the money of the country of itself because as far as I know there is a volume even in fiat money. It is true that they are not against the blockchain but they are certainly against deflation since it will greatly affect the economy. Although these question requires vast knowledge of almost everything, I am not very sure if what I had said is correct so pardon me.