Quote from: Magkirap on October 31, 2018, 07:14:20 AM

Quote from: PsylockReborn on October 12, 2018, 11:06:19 AM

Government is not against crypto if they can regulate it. They need to get taxes from people hiding their wealth in crypto. The reason why bitcoin was created is to let go from a corrupt centralized system and yet, almost all of the exchanges are already regulated by the government and even crypto holders are being taxed.

When it comes to the government laundering money using crypto that would be a risk for them since blockchain technology is made public and everyone can view transactions being made.

Sometimes people can't accept changes in technology that can possibly ruin their ways of stealing money from the people. Grin

The reasons why still government not allow or accept cryptocurrencies is they can't control or regulate because of its being decentralized. If the government wil allow cryptocurrencies many people will use it and the government will be have low funds because it is tax free.

Right mate, being decentralized its hard for them to control or even collect income tax for every individual gaining income from bitcoin. One thing I see why they are hesitant on bitcoin is because it makes people rich and can possibly affect the countries economic performance since it is usual that a rich people can buy many things and thus changing market supply and in effect the price of commodities will go higher and can make inflation go higher.