Topic: Bitcoin and rejected - page 2. (Read 314 times)

If this topic implies that Bitcoin has a very vital role to play in any country's economic well-being, then it is most likely wrong.

So these are actually huge conclusions:



I don't even think that Syria is indeed looking at Bitcoin as "a way to improve the local economy." And if they do, I guess there is no figure that would support any official finding that economic progress has been made after adopting such a view.

As for Zimbabwe, at least 70% of the population is poor. This fact alone is more than enough to argue that Bitcoin may not be for them yet.

Good thing I belong on the second category (based on OP) . Here in our country, our government not yet passed a law regarding crypto regulations so we are free to make the most of it TAX FREE. But if you think that everything is doing well here, no it's not. Due to freedom of using crypto, it seems that scammers are more encouraged to do their dirty jobs. Many of my fellow countrymen, especially those who are not well educated with it, got deceived even by a simple ponzi scheme until now.

Though SEC warns the public against fraudulent acts, I think it is not enough action. Yeah! Experienced investors like us enjoy the benefits of crypto but the sad fact is that uneducated ones are suffering in return. There is no balance thus I am willing to have a regulation if ever someone passed it. I know that it will be for the greater good.

I already watched the video and really amazed before, especially it is made by Nas Daily.
By the way on these kind of situation for Zimbabwe, as you saw on the video, government screw the economy of the country. Well the people found a solution, so here comes the e-cash that they are using.
So, if internet will be cut off at some point, for sure people there will really disappointed, so what's next? For sure they will not let it happen.
Zimbabwe is really great example for using cryptocurrency or Bitcoin.

The differing responses of governments toward bitcoin are quite understandable. They are only trying to protect their economies from possible collapse if bitcoin introduction suddenly dismantles their country's current financial system. That's a good thing I suppose because it goes to show that governments already recognize the difference bitcoin, or cryptocurrency as a whole, can make. As to what kind of difference that is, well, it depends on a plethora of factors from a country's economic stability to the degree of its reliance on intermediaries. These governments are surely taking all critical factors into account to determine if bitcoin is good or bad for them.

We can't blame them for being hesitant. Instead, we should help them strike a balance between allowing the use of bitcoin and keeping their economies from falling apart. I don't know how we can do that but if we really want to decentralize the global financial system through bitcoin, we'll have to figure out how to lessen if not completely eliminate the stress bitcoin could place in the economies of resisting countries.      

Base on op I said know,the funny thing is that tried to read the text over and over before I could understand the concept.
It's good to state words of sentence categorically.

I won't about countries that have allowed their citizen to buy, trade and have bitcoin but those countries who have banned or limited their citizens from bitcoin. I will say those countries practicing ban on bitcoin are depriving their citizens of their right of association and some other fundamental human rights. They are not democratic and or growing with modern reality of the world.

"The internet may be cut off at some point, which will stop the buying and selling process throughout the country"

We are still able to function using mobile data should the internet stop working, there are a few days to circumnavigate that

Are you talking about wealth inequality, and that bitcoin are going to tip the scale on the side of the poor? The answer is no? bitcoin is not like a magic bean that can simply solve world problem. It is not design to be like that. Bitcoin can create "opportunity", there's only 21 million bitcoin and not all of us can get at least 1 BTC in our lifetime. I may sound harsh here, but wealth equality is like dream only and bitcoin can't change that.

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=_E4V2RBrxeQ

What 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