Greetings to all respected members
We all know that since the launch of the Bitcoin currency, governments began to issue decisions regarding this currency, which caused a great revolution in the world of economics. The new currency.
In this topic, we will talk about the three previous types, but we will devote the long talk about governments that reject Bitcoin, how they view this currency and why they reject it, through my economic view of the matter and benefiting from some information about countries
First: Governments that have agreed to allow citizens to use Bitcoin:Economically strong countries were the largest percentage agreeing to use this currency, but under their supervision so that no economic deterioration occurs, as they saw that Bitcoin may be a major economic supporter of their local currency by increasing the injection of strong foreign currencies such as the dollar, the euro and others, but they monitored the buying and selling movements of this currency so as not Lose the strength of its local currency.
Second: Countries that have remained in the waiting state:They are the countries that did not prohibit the use of Bitcoin, but did not allow it completely, but rather left it to some local financial intermediaries who buy and sell the currency in small quantities without causing a negative impact on the local economy of the country, as the governments of these countries tried all the pros and cons of Bitcoin from these intermediaries
Third: Governments that completely reject Bitcoin: ((which is the most important part))Most of the governments that refused to allow their citizens to buy and sell bitcoin were from poor countries that have a weak economy, as these governments see that the process of buying bitcoin will lead to the emptying of bank accounts in the country of the local currency that will go to an unknown destination. When citizens buy bitcoin, their money will come out from the country's banks. The mother is to an external party and citizens will own the bitcoin, but what is the problem with this?
The problem here is that with the passage of time, Bitcoin will depreciate the local currency, and thus it is liable to disappear at any moment, and thus there will be great monetary inflation and the disappearance of the local currency almost completely.
A graphic showing how governments rejecting Bitcoin view it
for example:Syria: This country did not completely reject Bitcoin, but it did not allow its use in shops and in the buying and selling process, but rather considered it a way to improve the local economy
Zimbabwe: In one of the videos shown by the young Youtuber (Nas Dilly), he took to the streets of Zimbabwe and explained how all citizens' transactions have turned to cryptocurrencies after a huge monetary inflation, where he bought vegetables, rode a taxi and paid the price in Bitcoin via mobile phone.
video link:https://www.youtube.com/watch?v=_E4V2RBrxeQWhat might happen in Zimbabwe:1- The internet may be cut off at some point, which will stop the buying and selling process throughout the country
2 - The party responsible for Bitcoin may withdraw all its currencies from Zimbabwe and thus become a country without a currency that can neither import nor export
My personal opinion on this matter:If many countries convert to cryptocurrencies completely, the world will be divided into two parts, rich countries that have all the resources and money, and poor countries suffering from famine, and I hope this does not happen, but rather Bitcoin will be a source of help for people in wars, famines and diseases and transforming the world into a stable place with equal rights.
Note:1- I hope all the members excuse me because I had to ask for a little help from the translator, and I hope to put your personal opinions on this and your economic outlook to benefit from it
2- This topic is a personal judgment and a special analysis of what is happening around the world
3- I hope everyone will watch the video to clarify the idea for you
The fact is, most of the countries which are in the so called poor section is highly controlled , controlled by mafias or government, banks or some other dominant system.
Its a poor selection of words when we say that all the bitcoins are in poor countries , whereas the fact is there people are trying are new options since the government has failed .
Take the case of Nigeria , my friends living abroad are sending receiving money in BTC , I have been told time and again about the police oppression and how bitcoins is low-key helping small businesses. We can only imagine the horrors they go through.
Bitcoins have been more receptive by the people as a whole in poor country but even then the developed , so called rich nations are also enjoying the liberty that comes with cryptocurrencies no doubt.
