Bitcoin is difficult to accept in countries - page 10.

Wysi

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Quote from: Darker45 on October 31, 2019, 03:03:58 AM

Until now, Bitcoin is hardly accepted by countries for what it is because it is [1] beyond their comprehension, [2] a threat to their existing fiat system, [3] is neither issued nor directly monitored or supervised by the government, [4] is not owned by a certain person or company which the government could easily communicate, convince, or even threaten when the necessity arises, [5] is somehow anonymous, [6] and so forth. Having mentioned all these reasons, it is really difficult for Bitcoin to be accepted as legal tender in any country.

Yes these points are the main reason why some of the countries does not accept bitcoin and discourage their citizens from using it as we have seen so many instances wherein bitcoin has been used to extort money for unlawful activities which has portrayed bitcoin and it's anonymity in poor light, it's not easy to convince governments that's there were crimes and similar unethical activities even before the existence of bitcoin as they think bitcoin has made it easier for criminals to carry out activities.

crossabdd

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Quote from: PointHope on October 31, 2019, 02:20:42 AM

Bitcoin is only controversial for the global bankster elite who are currently holding the bag of 200+ trillion USD of unsecured debt.

Meanwhile the rest of the world will engage in honest p2p permissionless commerce using BTC.

not only like that guys, you are right Bitcoin is just a controversy with elite banks, but they are collaborating with the government. following government regulations, elite banks have a large and substantial contribution to the government. then what about bitcoin? decentralized system, I think it will reduce existing contributions. because it cuts the middle man out as a contribution to the government.
so the government makes it difficult to use bitcoin.

crossabdd

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Quote from: Herbert2020 on October 31, 2019, 03:10:43 AM

SEC is not rejecting bitcoin proposal, they are rejecting ETFs which has nothing to do with bitcoin. and they are not the decision makers when it comes to bitcoin regulations.

aside from that the whole point of bitcoin has always been that it doesn't need any country to accept it. it is decentralized and works fine with or without countries acceptance. it is only up to people to choose to use it or not.

maybe bitcoin doesn't need a country to accept it. because the system is decentralized, so all full rights are in bitcoin users. as well as the election using bitcoin or not. but what if 80% of people in a country use bitcoin could the country be silent? I don't think so. countries will still do regulation, while bitcoin is decentralized. including also about regulation. The state wants to protect its people through many rules and regulations of law, while Bitcoin gives freedom to its users.

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Quote from: jootn2kx on October 31, 2019, 03:44:31 AM

Quote from: crossabdd on October 31, 2019, 02:11:29 AM

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

I believe that Bitcoin is not adopted because it is a threat to those who make money out of people, particularly the banks. However, that is only a part of the problem, even though it is a major one. The thing is that cryptocurrencies are still evolving, and you can't regulate and adopt something that is still changing. BTC might not even be suitable to be a currency someday, especially if it is moving towards becoming a store of value. Regulations would have to change in a few years, which is extra work for regulators. It is easier for them to wait for crypto to reach its 'final form' instead, even though it slows things down considerably.

I don't think that banks consider bitcoin as a threat, banks are just neutral and bitcoin can use them as a channel or one of their partners to the progress of having a lot of bitcoin ATM's.
I know one of the reasons was regarding the taxation law. This may be one but their main reasons were still unknown. There's no statement was released from those big countries that still find it hard to consider the adoption of bitcoin in their country.

jootn2kx

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Quote from: crossabdd on October 31, 2019, 02:11:29 AM

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

I believe that Bitcoin is not adopted because it is a threat to those who make money out of people, particularly the banks. However, that is only a part of the problem, even though it is a major one. The thing is that cryptocurrencies are still evolving, and you can't regulate and adopt something that is still changing. BTC might not even be suitable to be a currency someday, especially if it is moving towards becoming a store of value. Regulations would have to change in a few years, which is extra work for regulators. It is easier for them to wait for crypto to reach its 'final form' instead, even though it slows things down considerably.

Herbert2020

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SEC is not rejecting bitcoin proposal, they are rejecting ETFs which has nothing to do with bitcoin. and they are not the decision makers when it comes to bitcoin regulations.

aside from that the whole point of bitcoin has always been that it doesn't need any country to accept it. it is decentralized and works fine with or without countries acceptance. it is only up to people to choose to use it or not.

Darker45

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Until now, Bitcoin is hardly accepted by countries for what it is because it is [1] beyond their comprehension, [2] a threat to their existing fiat system, [3] is neither issued nor directly monitored or supervised by the government, [4] is not owned by a certain person or company which the government could easily communicate, convince, or even threaten when the necessity arises, [5] is somehow anonymous, [6] and so forth. Having mentioned all these reasons, it is really difficult for Bitcoin to be accepted as legal tender in any country.

n0ne

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More countries and the functional governments have been showing positive signs of adopting blockchain and bitcoin with regulations for the same. This way the difficulty of bitcoin usage is slowly getting lowered. Already few well grown countries have already made their presence into the usage of bitcoin. Following the growth happening in the economy surely more countries will begin to adopt and accept bitcoin.

hello_good_sir

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Quote from: crossabdd on October 31, 2019, 02:11:29 AM

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

Blockchain is loved because it provides a way for advanced countries like China, America, Australia, Japan, and other really advanced countries to be able to move their financial systems forward into a system that is even easier to trace, and is just better then our current one.

Bitcoin is hated because it uses blockchain technology - but Satoshi also added a spice of decentralization which means no government will be able to control it fully (unless they own so much BTC they can market manipulate), and that's one of the main reasons why it'll be hard for the state to be accepted as a currency.

If your talking about hard forks, for separation, it could happen, but it wouldn't be bitcoin anymore - BTC without decentralization would be weird...

Eugenar

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In terms of bitcoin and blockchain to be adopted to many countries, it needs to be accepted first by the people. Once there is a majority of people who utilize bitcoin, the government will no longer have the capability to ban or somehow set a restriction about it. In addition, we cannot separate bitcoin and the blockchain in order to be accepted, since the blockchain is the technology needed by bitcoin to operate in the market.

PointHope

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Bitcoin is only controversial for the global bankster elite who are currently holding the bag of 200+ trillion USD of unsecured debt.

Meanwhile the rest of the world will engage in honest p2p permissionless commerce using BTC.

crossabdd

legendary

Activity: 1316

Merit: 1145

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

Topic: Bitcoin is difficult to accept in countries - page 10. (Read 2324 times)