One question people keep asking me all the time when they firstly get introduced into crpytocurrencies is “Why the governments are not accepting Cryptocurrencies as legal money?” and “Why some countries are even trying to BAN cryptocurrencies?”.
This is the same question as if I ask you why 7000 children die every day in Africa because of lack of water and food? When the money needed to save them can be gained from the money that banks spend every year on useless transaction fees. ‘’ Overall, America's banks took in an estimated $32.5 billion in overdraft fees for a period of 12-months’’. Yes you read it correctly, $32,5 billion only from America’s banks, imagine putting all the banks of the World together…Is your imagination that big?!
So lets get back to our topic. Why not accept cryptocurrencies as legal money? I mean, the transaction fees, the taxes and other service fees that people would save and not pay from their pockets is not enough?
Well obviously for the governments not! I mean how would the governments earn the money they earn today on our backs if all this happens?
I am not saying remove the taxes, remove the banks or whatever else! If we don’t pay taxes then how will the governments fix our roads? How they will build our schools? How they will feed the poor’s..Oh I forgot, that thing they are not doing it even now..
Governments don’t like things that they cannot control and one of those is Cryptocurrencies. Totally decentralized not owned or controlled by any authority in the world. Well is this a good thing? Even me, a big fan of Cryptocurrencies can’t say that, I mean from one side it’s good because nobody has the authority over your digital wallet and your transactions but from the other people used Bitcoins to buy drugs, guns and prostitution few years back.. So what you need to do is to put all the pros and cons of Cryptocurrencies in front of you and then decide, but remember choose wisely. Because if you choose us (cryptocurrencies) then you are joining a whole new world. World of opportunities and challenges! IF not then you will stay another one person on earth owned completely by its government without the freedom of speech which they are promoting so much!
Good luck with your decision.
There is so many things to write but I will not write you everything today you are still not ready for it.
To be continued..