news Are governments around the world afraid of Cryptocurrencies?

I like the technology, and eventually blockchain, or another decentralised concept will replace fiat. Not sure if that's bitcoin, or something else not yet invented. Decentralisation is the only way forward, and yes, it does threaten existing power structures. Ideally it will develop peacfully alongside existing frameworks and replace these.

Google said on Tuesday that it would join Facebook in banning advertising for Bitcoin and other cryptocurrencies on its services and advertising platforms. The two major POWERs on earth have taken this decision. Of course, they are ridiculous decision only, but if these two have to survive, they have to hear the government DICTATES also. It is clearly government pressure that lead Facebook and Google to take this decision against Cryptocurrencies.

you forgot to mention about money laundering and terrorism, it's far more terrible than tax potential...

The governments around the world aren't nearly as afraid of crypto as they should be!
I've said it from day one .. blockchain technology does have a future .. but empty non-backed crypto currencies like Bitcoin are only going to be more and more targeted by governments the more popular they get. The only way they wouldn't is if they're able to collect due taxes .. which getting around taxes and government oversight is pretty much the main reason for crypto. If the whole world moved to untraceable crypto .. then who would pay for schools, hospitals, roads, police, etc etc etc

That being said .. I'm very surprised governments haven't cracked down already .. so who knows .. either they don't think it will cut into taxes .. or they just simply have no clue what's going on and haven't set policy mostly because they don't even understand it ... lol

With all the crypto mania scammers are taking advantage of the mindless public who are lapping it up. I don't like google and especially facebook they are disgusting data whores but I don't necessarily disagree with them on this move.

You don’t have to worry about buying new crypto names.Pretty much everything possible that makes any sense (and a lot that don’t) are registered.

Didn’t we just have a big bad crypto thread yesterday?

Haroon Basha said:

It is clearly government pressure that lead Facebook and Google to take this decision against Cryptocurrencies.

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NoBS said:

I don't like google and especially facebook they are disgusting data whores but I don't necessarily disagree with them on this move.

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With the big ad suppliers caught with their pants down for the whole Russia Elections Interference, I think these big media giants will be more and more proactive on potential future embarrassments. Regardless of what happens with Trump and friends .. you've got to bet that Facebook, Twitter, Google and the rest are all going to lined up and asked to explain their lack of vigilance .. if they are seen as being more pro-active and taking action since (now), then they will likely be subject to less penalties .. and more importantly .. less actual laws restricting what they can do.

Future is block chain technology.
So fully invested block chain domains.

IMEZI said:

you forgot to mention about money laundering and terrorism, it's far more terrible than tax potential...

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Yes, you are right, it will increase money laundering, that ultimately a matter of tax evasion only. Terrorist organisations may not find it a good option because DIGITAL presence will expose their locations.

Haroon Basha said:

And those who invested in cryptocurrencies domain names are also worried lot as it is very hard to find buyers. Better to stay away from buying new crypto related domain names, at least for time being.

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Opps....
i have 4 crypto currency related domains..
1)- Bitcoin related
2)- Ripple related
and two crypto related


इसे कहते हैं सिर मुड़ाते ही ओले पड़ना ( I don't know what is say in English )..... Some months ago entering in domaining and going down...

jmaurya said:

Opps....
i have 4 crypto currency related domains..
1)- Bitcoin related
2)- Ripple related
and two crypto related

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i got almost 150 domains related to coin/crypto LOL

YES! Anything that threatened their "grasp" control, anything that will dilute their control, anything that will change the "way" transactions are done and they are "traditional" they will fear.

Bankers fear, ie. JP Morgan, etc., Gov like Chinese communist. The same can be said of you and I. We fear things we cannot control and make us "little". And at worse make us irrelevant! Think of Amazon and the internet how it destroyed alot of "building malls" and jobs,, think of Chinese manufacturing, how it destroyed jobs in the US and elsewhere. New things are better, but there is a cost, the more efficient things are, the less there is a need for labor (cost cutting) so it does hurt.

One day we will all be irrelevant! Big US bankers fret just like Trump fret, fearpolooza!

tech4 said:

YES! Anything that threatened their "grasp" control, anything that will dilute their control, anything that will change the "way" transactions are done and they are "traditional" they will fear.

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that what we call as SURVIVAL INSTINCT

Bitcoin Price Crashed in Mass Selloff as Crypto Owners Try to Avoid Taxes.
Bitcoin prices collapsed this week amid a flurry of bearish cryptocurrency news, but the mass sell-off may simply be due to investors wanting to avoid the Tax Man.

Tax experts say cryptocurrency holders may be rabidly selling off their holdings in order to avoid paying capital gains taxes, which in some instances are substantial due to bitcoin's soaring prices in 2017.


Read more: Bitcoin Price Crashed in Mass Selloff as Crypto Owners Try to Avoid Taxes | Investopedia https://www.investopedia.com/news/b...-crypto-owners-try-avoid-taxes/#ixzz5A6v6AaXs

nothing is permanent except change. And, government machinery already has tools to collect and analyze the information of its citizens. Instead of banning it, the wise option would be for them to come up with a technology that can help them revise the fiscal policies to suit the crypto trend. In the long run, it could prove to be more profitable. Just my 2¢!

Not all governments
Venezuela recruiting citizens to mine cryptocurrency

Haykay2005 said:

Not all governments
Venezuela recruiting citizens to mine cryptocurrency

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most mining activity were done by GPU/CPU not by human :D not sure what happen with another crypto but btc were no longer profitable https://www.investopedia.com/news/b...eating-cryptocurrency-according-one-estimate/

Haroon Basha said:

Bitcoin Price Crashed in Mass Selloff as Crypto Owners Try to Avoid Taxes.
Bitcoin prices collapsed this week amid a flurry of bearish cryptocurrency news, but the mass sell-off may simply be due to investors wanting to avoid the Tax Man.

Tax experts say cryptocurrency holders may be rabidly selling off their holdings in order to avoid paying capital gains taxes, which in some instances are substantial due to bitcoin's soaring prices in 2017.


Read more: Bitcoin Price Crashed in Mass Selloff as Crypto Owners Try to Avoid Taxes | Investopedia https://www.investopedia.com/news/b...-crypto-owners-try-avoid-taxes/#ixzz5A6v6AaXs

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Another contributing factor to the drop in BTC price and thus all other alt-coin prices is the Mt Gox settlement as they try to sell 200,000 bitcoins to pay off their clients.

Tshombe said:

Another contributing factor to the drop in BTC price and thus all other alt-coin prices is the Mt Gox settlement as they try to sell 200,000 bitcoins to pay off their clients.

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mtgox still have another 166K BTC to sell, waiting for further court decision on September 2018

IMEZI said:

mtgox still have another 200K BTC to sell, waiting for further court decision on September 2018

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Yep, will definitely drive down the prices more. Supply vs Demand. It's like what would happen if Satoshi Nakamoto woke up one day from his deep slumber and decides to sell off his nearly 1 million bitcoins

IMEZI said:

mtgox still have another 200K BTC to sell, waiting for further court decision on September 2018

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hmmm I read somewhere they sold all
at way better prices of coure
which means they can repay all their 25k or so clients THREE times over.

but it's unlikely to happen even one time over

or will take several more years

alcy said:

hmmm I read somewhere they sold all
at way better prices of coure
which means they can repay all their 25k or so clients THREE times over.

but it's unlikely to happen even one time over

or will take several more years

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It sucks though for the clients because they will only get paid back at the price of $483 per BTC! Shocking really considering the current price of BTC even with the drop.

alcy said:

hmmm I read somewhere they sold all
at way better prices of coure
which means they can repay all their 25k or so clients THREE times over.

but it's unlikely to happen even one time over

or will take several more years

Click to expand...

another 166K BTC still waiting for further court verdict https://coinstelegram.com/2018/03/1...bankruptsy-is-postponed-until-september-2018/

In India paypal account holders were ruthlessly hounded, subjected to identity theft, because large companies allegedly google, tata, falsely accused them of tax evasion, money laundering without legally valid proof since 2010.
Compared to bitcoin, paypal is far more transparent, and the money is less, so governments will take action as a lot of taxes can be avoided with bitcoin and others.