Bitcoin is difficult to accept in countries - page 6.

BitHodler

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Quote from: pundit on November 03, 2019, 02:04:12 AM

On the other hand blockchain technology is the the latest innovation and big economies like China do not want to remain away from this innovation, they may adopt the concept to develop something under their control.

Everything China does is to increase their already massive control over their people, and using the blockchain is going to help them achieve their goal faster and even more efficiently.

People are very excited about China's latest move to get into blockchain deep, but that move is something most people will regret having supported in the next couple of years because the real truth of China will come out.

Truth that will firstly impact Chinese people the hardest, but there is no reason why they wouldn't roll out their network to Hong Kong for example, which they want even more control over.

EdvinZ

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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.

Prateek_sharma

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India has banned the cryptocurrency and hearing is going on court

pundit

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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 am worried about the fact Bitcoin will be accepted by bigger countries. It is true that Bitcoin is the first carrier of blockchain technology but due to its decentralize nature most of the govts. are not accepting it. On the other hand blockchain technology is the the latest innovation and big economies like China do not want to remain away from this innovation, they may adopt the concept to develop something under their control. Lets hope something good for BTC future.

Wawa2013

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In developed countries, investment becomes excellent, especially now, investment in crypto or say investment in bitcoin. Maybe in developed countries like bitcoin is accepted like in Singapore for example. However, there are many countries that do not agree to accept bitcoin as an investment tool because bitcoin value is very volatile so it is high risk and speculative. Say the government is principled to maintain prudence and wants to provide protection to consumers from the risk of crypto investments that are too risky. In addition there are several other reasons, namely to avoid money laundering and terrorism financing. But for blockchain technology, it might still be acceptable because the technology is very sophisticated and can advance a country's economy if the country implements a blockchain system. But Bitcoin and blockchain technology still cannot be separated because they are one unit.

Lauren Smith

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It is because then the blockchain can be to themselves with a new currency they make. Bitcoin belongs to people and they want it to belong to them. They want the technology to be theirs. This is especially so with China and how thy have reacted and handled bitcoin and blockchain technology and how its been announced they do support blockchain just not bitcoin.

I really cannot wait to see countries adopt crypto as their countries have chosen currency. Or at keast have it as a secondary option to their main fiat currency.

Xxmodded

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SOL.BIOKRIPT.COM

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.

Many countries difficult to accept bitcoin as legal transaction currency, with many controversy of bitcoin price suddenly dump and pump make many country not allowing for bitcoin become legal currency transaction payment. Although many cases with bitcoin hacked in wallet exchange and low security with bitcoin make countries want to review for adopting bitcoin as legal payment transaction at the future.

crossabdd

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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.

Yep, that's good ... as long as there are no heavy sanctions for bitcoin users in investing, then use it well. and as long as it makes someone better in finance. then don't let go. continue to learn and collect bitcoin. although one day apart from state regulations and bitcoin runs alone. don't take it off. because we don't know what will happen for the future of bitcoin. surely we believe it will get better.

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

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.

Well that's a fair assessment between the blockchain technology and bitcoin. The technology seems to being adopted much more easier than bitcoin and this is because of the lack of control that these governments don't have over bitcoin. The government mostly bans or restrict the use of things they can't control. However, some companies have already integrated the payment system of cryptocurrencies into their operations which accept bitcoin as mode of payment. It will take time but i believe we would get there soon.

Aryadwipanggah

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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 think because of the fluctuating price of BTC as the main reason why BTC is still difficult to accept in various countries, blockchain itself might be welcomed positively as a reliable technology for storing data, but bitcoin as one of the blockchain products will not necessarily be welcomed positive like the blockchain.

danggoron

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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!

It's only about time, over time people will realize how great the function of blockchain and bitcoin is. Although it is undeniable that many things make it controversial so that in some countries it is banned. So, while there is an opportunity, take advantage of this well, although there is no official legality, some countries allow the use of cryptocurrency, especially bitcoin for investment and trading commodities.

boltz

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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!

FlightyPouch

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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.

Asmonist

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At this point of time there is still no concrete details as to bitcoin acceptance in terms of its legality. However, users are getting higher in volume that makes it more difficult for them to make regulations maybe. Its always the people's power to make it happen. The more users of bitcoin we'll have the capacity to sustain it. Blockchain and bitocin are reciprocal to each other and it takes both to make it happen.

xiboothrezi

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Adoption of blockchain is indeed very influential on increasing the effectiveness of a field. Adopting a blockchain does not mean having to do the same thing to accept bitcoin openly, because bitcoin cannot be controlled by any government or group (except those concerned), which is why developers make their own coins or tokens that can be controlled and managed.

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.

Not at all. What's wrong with not having a physical form? if it has a physical form it will actually eliminate the essence of bitcoin as a cryptocurrency, a cryptographic encrypted currency. In fact, there are a lot of rumours and news circulating that bitcoin cannot be fully accepted because there is no official administrator, anonymous, so it is feared that there will be more risk.

zenhu

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Yeah that happen right know, the world just want to learning about blockchain to improve their economics system, but they rejected btc as currency. Its because bitcoin can't be predicted and have high volatile, so it have high risk if it become an asset for lot of people in the world.
Then bitcoin have no physical shape if we own it. Its the main reason why the bank wont use bitcoin as currency.

acroman08

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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.

as much as I love bitcoin I don't see it being fully accepted by a government because of its possible illegal uses. blockchain, on the other hand, is the opposite. blockchain is quite
versatile and can be implemented in different technology/fields. in short, I agree that blockchain might be welcomed by the government because of its possible uses but bitcoin possibly
will remain frowned upon by the government. but I still have hope since bitcoin transaction are traceable and the government might use this to track down possible illegal transactions.

Palider

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Bitcoin does not need to be welcomed by the government, It is made to be anonymous so it cannot be controlled by anyone. And let's not expect the government to accept bitcoin because it will surely ruin it for us to use. Because the only way now for the entire government to accept it is to have the power to control it, which other crypto users will not allow.

jostorres

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You expect the government to just accept a system without thoroughly investigating it and also seeing how it functions and its effect on the market. They have not rejected bitcoin, they are just being skeptical about its usage being the fact that it is a system that they did not create personally which will make them to want to first be careful in the way they rush into it, and you can see that they were initially first difficult about it when bitcoin first came out and after which you can now see that they are beginning to look for ways for which they can regulate the market after seeing the numerous benefits that the use of bitcoin will bring to them in terms of both employment and economic benefits.

error08

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Bitcoin still in the early phase of development (10 years) and bitcoin market capitalization still growing with bigger potential in the future, as satoshi said; I'm sure that in 20 years there will either be very large transaction volume or no volume.
The main reason why some countries banned bitcoin because of the underlying technology of bitcoin which knows no boundaries and decentralized without any government can control it. Furthermore, the price of bitcoin keeps fluctuating and susceptible to manipulation due to relatively small market capitalization and some people hold too much bitcoin compared to the majority adopters.

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