Cryptocurrencies and Government by codingdefined

View this thread on: hive.blog | peakd.com | ecency.com

hive-167922 · @codingdefined · Feb 19 '24

$5.06

Cryptocurrencies and Government

Government all around the world wants to control their money. They wanted to know everything about their currencies, how much people were saving, how much they were investing, how much they were remitting and so on. But with the cryptocurrencies, they cannot do it. The government has full authority over the money supply and thus can increase the supply whenever it wants.

![image.png](https://files.peakd.com/file/peakd-hive/codingdefined/23tSgqjxRvnw3pXjFKToNbkxDCXVXKBovuy1AnLjeW5UgZHPnHPTkxBdveoVyY8pNqP8P.png)
PC: Pixabay.com

Also, the government mainly relies on the trust, that the fiat currencies will be a trusted way of exchanging hands. The sole purpose of cryptocurrencies is that they want to remove Government supervision on the money. Since the government can create a lot of money thus value of it gets less with each passing day. The cryptocurrencies on the other hand have limited supply (mainly Bitcoin) the value of it doesn't decrease and will increase in the long run.

The government is also wary that the cryptos are mainly used for illegal activities and with that they cannot track the money chain. Since there is no identity in Bitcoin criminal activities are taking place using Bitcoin only and thus the government has a hard time identifying it.

But the problem is that the government cannot run away with it. They have to come up with the regularization and other things because cryptocurrencies are here to stay. Like in India, Government has first banned crypto and then imposed a profit tax. Now they are asking all the information from the exchanges to know who have how much crupto with them so that they can actually regularize it.

Similarly the US has given green light for the Bitcoin ETF which again a good step towards helping people to invest in the crypto. Like now using the bitcoin ETF I can invest in Bitcoin without even thinking of opening a crypto exchange account and other things.

So the government has to pit efforts to use cryptos for their own good and help people to gain advantage of it.

#### This is my participation post for [February Monthly Prompt](https://peakd.com/hive-167922/@leo.tasks/initiative-february-monthly-prompt)

Posted Using [InLeo Alpha](https://inleo.io/@codingdefined/cryptocurrencies-and-government)

👍 indiaunited, bala41288, brofi, r1s2g3, helios.voter, sagarkothari88, bobinson, muterra, sanjeevm, gungunkrishu, disregardfiat, ecency, reeta0119, marianaemilia, mightyrocklee, amitsharma, sbi7, sokal, arunava, khan.dayyanz, chetanpadliya, nfttunz, supriya.gupta, balaz, utopis, godfather.ftw, preeti, imacryptogeek, aleister, bteim, kannannv, portugalcoin, satoshil, kanibot, beyondhorizonmm, pardinus, bala-leo, bhattg, mmunited, lordnasty, mukund123, cryptictruth, chandra.shekar, anna89, deimage, littlenewthings, brofund, shaidon, roleerob, kamaleshwar, photolovers1, yogeshbhatt, dudeontheweb, deggial, dynamicrypto, anjanida, abhay2695, good-karma, baltai, karishmasingh711, theindiankid, gtpjfoodbank, scrubs24, bozz.sports, and 88 others

`author`	codingdefined
`permlink`	cryptocurrencies-and-government
`category`	hive-167922
`json_metadata`	{"app":"leothreads/0.3","format":"markdown","tags":["hive-167922","leofinance","Februaryinleo","Cryptomonday","Hive-engine","Neoxian","India","Cent","Proofofbrain"],"canonical_url":"https://inleo.io/@codingdefined/cryptocurrencies-and-government","links":["https://files.peakd.com/file/peakd-hive/codingdefined/23tSgqjxRvnw3pXjFKToNbkxDCXVXKBovuy1AnLjeW5UgZHPnHPTkxBdveoVyY8pNqP8P.png)","https://peakd.com/hive-167922/@leo.tasks/initiative-february-monthly-prompt)","https://inleo.io/@codingdefined/cryptocurrencies-and-government)"],"images":[],"isPoll":false,"dimensions":{}}
`created`	2024-02-19 16:49:45
`last_update`	2024-02-19 16:49:45
`depth`	0
`children`	5
`last_payout`	2024-02-26 16:49:45
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	2.540 HBD
`curator_payout_value`	2.517 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	2,286
`author_reputation`	535,286,590,776,622
`root_title`	"Cryptocurrencies and Government"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	131,423,777
`net_rshares`	11,324,363,749,345
`author_curate_reward`	""

properties (23)vote details (152)

voter	rshares	pct
good-karma	5,499,325,922	0.5%
sokal	75,411,335,387	100%
disregardfiat	299,446,891,019	14.28%
catotune	4,348,994,751	20%
esteemapp	1,321,322,292	0.5%
stefanialexis	738,356,380	18%
dimitrisp	1,285,157,867	25%
aleister	36,121,182,351	10%
arunava	70,729,046,262	10%
littlenewthings	9,757,020,654	100%
vikbuddy	148,475,973	34.5%
hardikv	3,529,389,780	28.27%
sanjeevm	361,285,322,008	40%
chetanpadliya	67,255,215,636	100%
amitsharma	119,655,648,758	100%
sorin.cristescu	1,356,975,882	0.25%
roleerob	7,267,183,607	1.7%
splash-of-angs63	3,414,248,876	16.96%
preeti	38,994,908,181	100%
gtpjfoodbank	4,645,345,254	60%
saifulanwar	489,551,426	28.27%
esteem.app	138,376,995	0.5%
bobinson	558,229,694,199	56.55%
sankysanket18	1,339,392,472	28.27%
vishire	3,015,480,538	56.55%
silenteyes	1,990,146,530	28.27%
shonyishere	3,014,986,216	56.55%
frames	774,062,442	25%
dudeontheweb	6,134,888,090	7.2%
r1s2g3	757,903,680,495	100%
bala41288	1,353,239,255,883	50%
portugalcoin	25,424,399,426	10%
dynamicrypto	6,030,700,709	5%
indiaunited	2,874,229,430,181	56.55%
shaidon	8,080,653,264	18%
upfundme	530,746,216	6.39%
catharsis	3,100,930,707	12%
anna89	10,608,855,885	100%
bhattg	16,057,070,764	12%
cryptictruth	11,413,335,351	2.5%
ayushthedreamer	2,556,457,951	28.27%
mchandra	641,850,172	2.82%
raqibul	1,185,162,441	28.27%
paragism	485,277,396	16.96%
rainbowbala	1,816,798,407	56.55%
ashley4u	1,676,210,282	28.27%
ragavee	2,013,124,464	28.27%
therabbitzone	838,414,704	50%
gabrielrr17	1,485,398,814	9%
indiaunited-bot	2,341,727,883	56.55%
carl05	1,972,115,539	9%
pardinus	18,877,282,950	10%
ezunjoshy	3,398,729,963	28.27%
lermagreen	471,348,293	100%
sbi7	90,861,405,441	27.74%
pedrocanella	945,689,115	18%
dosh	535,508,089	18%
mmunited	15,565,548,025	70%
gungunkrishu	320,164,334,244	40%
marianaemilia	155,698,031,302	18%
karishmasingh711	5,025,283,643	100%
khan.dayyanz	69,480,002,090	50.89%
gomster	750,730,084	9%
olaexcel	981,457,005	28.27%
caaio	644,369,451	18%
reeta0119	235,440,022,360	100%
anjanida	5,967,119,148	100%
bastter	3,094,409,907	18%
mukund123	12,948,128,856	100%
badfinger	1,603,661,476	28.27%
bala-leo	16,174,103,914	50%
revise.leo	517,737,449	100%
sbi-tokens	1,110,258,779	1.52%
kanibot	23,289,444,233	50%
baltai	5,027,243,561	2.13%
bozz.sports	4,410,754,780	4%
phython	114,337,905	100%
brofund	8,751,998,084	8.53%
satoshil	24,048,864,757	50%
ecency	275,337,921,441	0.5%
sidjay	866,418,536	16.96%
ecency.stats	158,547,427	0.5%
dikshabihani	1,026,924,165	28.27%
sylmarill	809,915,986	100%
goliathus	708,514,512	9%
hive-world	1,282,488,857	9%
vandanabhatt	1,079,206,477	56.55%
mightyrocklee	139,821,191,445	9%
text2speech	733,524,622	12%
matthew.lily	3,584,457,968	100%
furiousfighter	3,577,256,691	9%
yogeshbhatt	6,532,219,652	56.55%
gungunkrishu.leo	637,658,339	25%
heruvim1978	1,943,150,652	4.5%
godfather.ftw	39,408,465,497	50.89%
carlosro	2,997,891,052	18%
brucolac	2,309,436,428	10.8%
brando28	1,182,451,525	9%
endrius	2,949,111,664	75%
giemo	1,554,166,757	18%
utopis	40,097,768,978	50%
brofi	933,292,948,221	8.53%
nfttunz	65,636,960,424	4.26%
muterra	458,356,653,585	56.55%
brofund-witness	2,741,548,305	8.53%
disha30	2,103,215,830	56.55%
photolovers1	6,632,975,994	12%
supriya.gupta	62,885,647,912	100%
kamaleshwar	6,770,585,983	50%
chandra.shekar	10,929,572,023	50%
kannannv	32,753,076,105	50%
sudeon	3,331,649,361	100%
vitoragnelli	862,363,263	100%
gamerzaza	1,735,557,415	28.27%
adulruna	475,098,734	18%
emd012	472,355,563	9%
hkinuvaime	898,740,742	9%
scrubs24	4,421,067,492	13.5%
beyondhorizonmm	19,751,651,121	70%
kojiri	925,380,219	9%
reppilc	1,679,520,430	70%
deimage	10,431,077,768	28.27%
jpleron	473,412,185	18%
elfino28	880,389,499	12.6%
attentionneeded	566,495,311	11.31%
lucasqz	3,610,660,332	100%
bteim	34,102,375,701	50%
india-leo	2,220,205,156	50%
sagarkothari88	590,661,083,437	12%
pravesh0	1,618,322,976	1.8%
theindiankid	4,671,512,516	100%
aadilmir	536,789,396	2.82%
yameen-ag	1,363,521,729	80%
balaz	40,892,550,849	50%
dub-c	829,378,158	100%
helios.voter	611,864,589,054	10%
deggial	6,112,441,612	18%
canellov	571,209,785	9%
pinkchic	2,574,858,473	8.48%
tuba777	1,279,774,739	28.27%
imacryptogeek	38,049,056,250	56.55%
kalibudz23	243,142,419	100%
abhay2695	5,718,715,492	28.27%
buffalo.leo	0	100%
biyimi	1,959,656,623	11.31%
anujadhao	505,343,884	5.65%
lordnasty	13,141,462,024	100%
its.jyoti	0	100%
adeade123	1,178,721,725	28.27%
modiji	1,603,378,081	50%
mulik369	1,915,793,704	80.5%
evergreen.min	2,665,245,488	100%

@india-leo · Feb 19 '24

Indiaunited Curation 1708361599035

This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators. 

<sub>**100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.**</sub>

properties (22)

@indiaunited · Feb 19 '24

Indiaunited Curation 1708361590410

This post has been manually curated by @bhattg from Indiaunited community. Join us on our [Discord Server](https://discord.gg/bGmS2tE). 

Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight. 

Here are some handy links for delegations: [100HP](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=indiaunited&vesting_shares=173739.23130436288%20VESTS), [250HP](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=indiaunited&vesting_shares=434348.0782609072%20VESTS), [500HP](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=indiaunited&vesting_shares=868696.1565218144%20VESTS), [1000HP](https://hivesigner.com/sign/delegateVestingShares?delegator=&delegatee=indiaunited&vesting_shares=1737392.3130436288%20VESTS). 

[![image.png](https://files.peakd.com/file/peakd-hive/bala41288/46eaz12N-image.png)](https://discord.gg/bGmS2tE) 

<sub>**100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.**</sub>. 

This post received an extra 16.55% vote for delegating HP / holding IUC tokens.

properties (22)

@reeta0119 · Feb 19 '24

$0.04

Indian government is still not Crypto friendly.
@sagarkothari88 vote

👍 sagarkothari88

`author`	reeta0119
`permlink`	re-codingdefined-s946qd
`category`	hive-167922
`json_metadata`	{"tags":["hive-167922"],"app":"peakd/2024.1.1"}
`created`	2024-02-19 17:47:03
`last_update`	2024-02-19 17:47:03
`depth`	1
`children`	1
`last_payout`	2024-02-26 17:47:03
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.020 HBD
`curator_payout_value`	0.021 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	68
`author_reputation`	1,051,474,063,170,242
`root_title`	"Cryptocurrencies and Government"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	131,425,119
`net_rshares`	98,167,821,809
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
sagarkothari88	0 B		98,167,821,809	2%

@sokal · Feb 19 '24

If you hold bitcoin in a hardware wallet how would they know?

properties (22)

`author`	sokal
`permlink`	re-reeta0119-2024219t124752512z
`category`	hive-167922
`json_metadata`	{"type":"comment","tags":["hive-167922"],"app":"ecency/3.0.46-mobile","format":"markdown+html"}
`created`	2024-02-19 18:47:51
`last_update`	2024-02-19 18:47:51
`depth`	2
`children`	0
`last_payout`	2024-02-26 18:47:51
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	62
`author_reputation`	39,072,072,602,199
`root_title`	"Cryptocurrencies and Government"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	131,426,413
`net_rshares`	0

@sokal · Feb 19 '24

With a bitcoin ETF you’re investing into the ETF and not Bitcoin. You don’t own bitcoin just shares in an ETF and zero control over the ETF.  It’s important for people to understand this as they are under the assumption that buying into a Bitcoin ETF is the same as buying and holding Bitcoin

properties (22)