As all our readers know, gaming is our forte here at MMOGames. Still, once in a blue moon, we occasionally like to share with you something a bit different that we’ve found interesting. And, as both fans and critics alike will tell you, there are many elements of Bitcoin that are game-like. That’s enough from us, here’s some news:

With the recent news of authorities arresting a Bitcoin-laundering kingpin, many have started to raise questions on the most pressing issue faced by crypto investors. Is it safe to trade Bitcoin? The short answer is yes. Bitcoin is, after all, based on blockchain technology which means that it’s pretty much fool-proof. However, there are still those who aren’t comfortable with trading Bitcoin just yet.

While there are plenty of articles out there that wax lyrical on the many advantages of using Bitcoin, it’s time to talk brass tacks. Here, we are going to take a closer look at two issues that keep many Bitcoin investors up at night.

What Happens When the Government Finally Accepts Bitcoin?

So, what if the government finds its Bitcoin religion and finally embraces cryptocurrencies? While many might think of this as a good thing, remember it was none other than Ronald Regan himself who uttered the words, “The nine most terrifying words in the English language are, ‘I’m from the government, and I’m here to help.’” Come to think of it, Regan might have been on to something.

This is especially something to consider once you take into account the general desire by all politicians to enact burdensome regulations on industries. Besides, if regulations are able to cripple even the most vibrant of industries, then what makes you think that the crypto industry would be any different?

With politicians making more and more promises these days in a bid to keep on getting re-elected, they are going to need money to pay for all those services. This could mean heavy taxes for crypto, which would diminish the advantage of holding on to them as an investment.

Now, let’s take a second to imagine what the world would look like if governments had a blockchain record of each and every transaction you’ve ever made. This is possible considering the many countries where totalitarian regimes still exist to this day. This could raise a whole other issue of privacy, which has not been discussed when it comes to Bitcoin but are issues that are the exact opposite of why investors prefer Bitcoin in the first place.

The second most pressing issue for investors currently is that of governments going the other route and banning crypto outright. This is not a far-fetched scenario either, since some countries such as India have already proposed a law that bans cryptocurrencies and is going to find anybody who is caught trading in crypto or investing in crypto in the country. The criminalization of crypto by some countries would, without a doubt, raise issues. One of the reasons why governments could make a move to ban cryptocurrencies is because crypto already seems like it has been tailored for illicit transactions because the blockchain technology it runs on prevents transactions from being tracked.

But, the truth is that simply banning crypto is not going to solve the problem of illicit trading or the drug trade, which is why governments need to look towards other more viable options when it comes to cryptocurrencies, such as putting solid regulatory reforms in place which will govern all crypto transactions and will consequently make crypto trading much easier and safer.

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N.B. Cryptocurrency investments are famously volatile. Anyone who invests should perform careful and extensive research covering all of their options, tools, investments, and platforms. This opinion-based article is not intended as legal or investment advice. The views expressed here do not represent the views of the MMOGames team nor brand.