Bitcoin is difficult to accept in countries - page 5.

Colt81

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Quote from: Kasabus on December 27, 2019, 08:09:34 AM

If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

Honestly, we don't need for bitcoin to be regulated by the government because bitcoin is decentralized which they can't control, and put a tax on it. The only thing that we need is that the government should accept bitcoin as a currency, so everyone in the world would start to use and accept bitcoin for online transaction. If bitcoin became centralized, it doesn't have any difference with fiat currency.

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If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

rokon1234

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Quote from: sandra2010 on November 05, 2019, 04:38:10 AM

what i know that China reject bitcoin and any cryptocurrency coins, but in the mean time they will create them own coin.

yeah some people have bad idea about bitcoin,that's why they always reject bitcoin.

angrybirdy

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Quote from: Boov on November 05, 2019, 05:41:54 AM

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

It is easy to say, but it is really hard to do. The government is not easy to convince unless you make them realize the factors it can do for their own benefit. Without proper knowledge and explanation or evidence, your proposal to let them know will be out of the chart. The government is actually looking only to their side. If they know that they can't control it, they won't hear you out.

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Quote from: Boov on November 05, 2019, 05:41:54 AM

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

In a number of countries, your BTC earnings are already taxed and they are working (if not yet passed) on regulating it - using FATF recommendations, EU directives (Europe) or national legislation. The point is that regulators are often the people of the past and they want to put a cryptocurrency environment in the more or less similar legal background as a banking system.

Linkkoin

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FATF recommendations, depending on the way they are implemented by each country can become a limitation for Bitcoin. Why is that?
"Travel rule", which works in more or less the same way as with the banking system/card payment.
The receiving party (wallet) must be identifiable. With banks it is simple - there is an assigned and confirmed account owner.
With cryptocurrencies, it would be a lot more difficult.

So then your payout order from exchange/market will need to be accepted. And there is a blacklist of countries where you will be unable to send your BTC from, just because they are considered politically unstable/failed states. And after several attempts to do so, your account could be suspended under further investigation is finished.

A possible and rather temporary solution would be to use in such case a cold/hardware wallet, but anyway - as we can trace the history of each block in the blockchain, you may be put on a blacklist as a person after several transactions only because you as a Venezuelan expat had been sending BTC to your starving family in your homeland

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Quote from: Wintersoldier on November 05, 2019, 03:39:05 AM

Quote from: Prateek_sharma on November 04, 2019, 12:49:47 AM

India has banned the cryptocurrency and hearing is going on court

India has their people more focus on cryptocurrency, there are more people who prefers cryptocurrency in india rather than preferring banks. And also, their government really do want to ban cryptocurrency and hodlers of it might be in jail according to this article: https://www.technologyreview.com/f/614014/india-might-ban-cryptocurrencies-and-give-its-traders-jail-time/

with this, we can infer that people should support first their government after this will be settled, government will trust their people as well. There are countries where cryptocurrency is prominent and even supported by the government.

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

sandra2010

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what i know that China reject bitcoin and any cryptocurrency coins, but in the mean time they will create them own coin.

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Quote from: crossabdd on November 05, 2019, 04:08:52 AM

Quote from: Xcode7 on November 05, 2019, 02:58:28 AM

Quote from: Pamadar on November 05, 2019, 01:29:13 AM

Quote from: EdvinZ on November 04, 2019, 03:22:40 AM

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

It is the authorities' role to stop these crimes and put to justice whoever is involved with them. It is not Bitcoin's fault that there are kidnappings and spread of virus just as it is not fiat's fault that there is widespread corruption within the governments and plundering of the national treasuries. There are always two sides of something. One good and the other bad. It is up to you which side you are focusing.

Zeke_23

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Quote from: crossabdd on November 05, 2019, 04:08:52 AM

Quote from: Xcode7 on November 05, 2019, 02:58:28 AM

Quote from: Pamadar on November 05, 2019, 01:29:13 AM

Quote from: EdvinZ on November 04, 2019, 03:22:40 AM

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

This is the main reason why most of the countries are still unable to accept bitcoin, basically, they know nothing but all the illegal activities about it. They don't know its function, how it works, and its uses.
Lacking of knowledge is the main reason why adoption will never happen to most of the countries, if there will be a group of people or even the government itself will explain everything and will start a move to accept it, every individual will probably understand and will start to like it and more likely to use it.

crossabdd

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Quote from: Xcode7 on November 05, 2019, 02:58:28 AM

Quote from: Pamadar on November 05, 2019, 01:29:13 AM

Quote from: EdvinZ on November 04, 2019, 03:22:40 AM

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

Wintersoldier

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Quote from: Prateek_sharma on November 04, 2019, 12:49:47 AM

India has banned the cryptocurrency and hearing is going on court

India has their people more focus on cryptocurrency, there are more people who prefers cryptocurrency in india rather than preferring banks. And also, their government really do want to ban cryptocurrency and hodlers of it might be in jail according to this article: https://www.technologyreview.com/f/614014/india-might-ban-cryptocurrencies-and-give-its-traders-jail-time/

with this, we can infer that people should support first their government after this will be settled, government will trust their people as well. There are countries where cryptocurrency is prominent and even supported by the government.

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Quote from: Pamadar on November 05, 2019, 01:29:13 AM

Quote from: EdvinZ on November 04, 2019, 03:22:40 AM

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

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Quote from: EdvinZ on November 04, 2019, 03:22:40 AM

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

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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 live in a country where Bitcoin is very much legal and we have a few exchanges here in our country, I think it's more on a country that cannot adopt the technology that is being brought by the blockchain, and another is they want total control and they have very limited control and they will have to do a lot of examination and setting up a system for adoption, just like our government has done and they do not want to bother doing that.

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actually bitcoin accept in country but in small radius. government maybe reject or inhibit developing of bitcoin, but in small bussiness they brave to accept it. many store implement this method for their profit and for customer.

Quote from: zenhu on November 02, 2019, 02:50:26 PM

snip--
Then bitcoin have no physical shape if we own it. Its the main reason why the bank wont use bitcoin as currency.

now, and many people use digital money to pay something. so, its not about the physical shape.

aysg76

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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.

Most of the big institutions like UN,Starbucks have started to accept bitcoin as mode of payment in their system and what i think is that governments will support these coins if majority if people accept or banks adopt blockchain technology in their system.The governments fear these decentralized currencies as they dont have any control over them and they will never allow such currencies to operate in their financial system.But still with improved technology btc have potential to improve economic conditions of nation so it might be possible to be adopted at large scale.Lets wait for right time.

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Quote from: FlightyPouch on November 02, 2019, 06:24:42 PM

Quote from: Gotumoot on November 01, 2019, 05:23:10 AM

Because Bitcoin is anonymous, Bitcoin cannot be controlled by anyone, Because the price of bitcoin is volitile, Because it is too risky to invest here because of the threat of hackers and more, which prevents bitcoin from being recognized as one of the most beautiful inventions of this era.

From all of the things you've said, I guess the accurate one why it is difficult for countries to accept it is the fact that it is decentralized. No one controls means the government will be having a hard time supporting it. We don't need to talk about investment here since the acceptability of bitcoin circulates to it being decentralized.

Yeah, accepting bitcoin is not so difficult but the real difficulty here is that as you are saying, the government has not yet established a relationship with bitcoin, they understand the system and the benefits of life from bitcoin but anonymity is restricting control from the government but increasing the opportunity for criminals who want to transfer and launder money. And in fact, bitcoin is not too interested in or desires acceptance from countries, users accept it is enough for bitcoin to grow

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Quote from: boltz on November 02, 2019, 06:28:39 PM

We will get to the point when Bitcoin and Blockchain cannot be ignored anymore. So far its good that people are approaching Bitcoin and they invest into it or even more they build around its ecosystem. In future Governments will adopt Bitcoin ( or some of them will build their own in order to control the funds which will only be applied for current citizen who don't believe in Bitcoin and they want a national cryptocurrency ) but yea in some countries people still see Bitcoin as the biggest bubble ever created and they don't even want to inform about it in order to find what is really behind Bitcoin, THE BLOCKCHAIN!

First of all we have to make the difference between Bitcoin as a cryptocurrency and blockchain as technology. It's very likely that governments will accept and implement blockchain in different areas but I'm not so sure about Bitcoin. However I do expect some regulation in most of countries regarding cryptocurrencies because by now everyone is aware they can't be ignored. Still that doesn't necessary mean their implementation in formal economy and financial system.

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Quote from: boltz on November 02, 2019, 06:28:39 PM

We will get to the point when Bitcoin and Blockchain cannot be ignored anymore. So far its good that people are approaching Bitcoin and they invest into it or even more they build around its ecosystem. In future Governments will adopt Bitcoin ( or some of them will build their own in order to control the funds which will only be applied for current citizen who don't believe in Bitcoin and they want a national cryptocurrency ) but yea in some countries people still see Bitcoin as the biggest bubble ever created and they don't even want to inform about it in order to find what is really behind Bitcoin, THE BLOCKCHAIN!

They are regulating bitcoin maybe because they cannot regulate it. The way we are earning without paying any tax. We all know that cryptocurrency is decentralized meaning it is not run by any organization or group. But I think they are also getting to the point that they do adopt cryptocurrency when they really knew that it is really profitable in many terms. Investors will do invest in some projects in here and it is really helpful to the market. The moment that the crypto will be legalized in all countries I believe that the market will recover because if that happens there are more investors will come. They will buy some tokens and it is good on our side, having more incestors than bounty hunters.

Topic: Bitcoin is difficult to accept in countries - page 5. (Read 2324 times)