Cryptocurrencies are not harmful for economy

senin

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Quote from: jvdp on July 26, 2019, 03:52:32 PM

Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

They don't think it is harmful for their economy or for their country citizens. actually most of the countries rejecting cryptocurrency related bills due to anonymous factors but truth this most of the politician doesn't want cryptocurrency to be act as main mode of payment it in the government banks or any government related transaction. Because if that has been done via crypto payment they will not able to to do the corruption kind of things and make money out of it.
Finally greediness of money is the matter for this cryptocurrency acceptance issue. Nothing more than that...

And here is corruption or greed? Cryptocurrency cannot be the primary means of payment in any state by nature. Cryptocurrency does not interact with the state economy, it cannot develop in a foreign currency for it. Cryptocurrency can go in society only along with the national money of the state. Then she will not have a negative impact on her economy.
For corrupt officials, on the contrary, using cryptocurrency due to its high degree of anonymity is much better than using ordinary money.

marcbitcoins

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Quote from: carter34 on August 31, 2019, 09:09:02 AM

Quote from: marcbitcoins on August 27, 2019, 12:16:49 AM

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

Those people that are unemployed will probably no financial income at all like from salaries but if they could freely to join Bitcoin investment of any concept like thru mining, bounty and trading then they will going to have an opportunity to start generating their own income without depending on the government help anymore because they have already employed themselves.

qwertyup23

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Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

Cryptocurrencies perse are not harmful to the economy, as in fact, it is beneficial since it creates a system where there is an inflow and outflow of cash through its transactions.
What makes cryptocurrency repugnant to the government is its inherent nature and effect providing anonymity to its transactions without any trace left. Back in the days, people used cryptocurrencies as the main medium in online black markets (Silk Road) where they usually transact illegal drugs or services available.

Unfortunately, it created an ongoing stigma against cryptocurrencies and has been branded as something that is harmful, without even knowing its full potential to the consumers and businesses.

imstillthebest

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Quote from: Ridwan Fauzi on September 18, 2019, 07:20:07 AM

we can say below five countries who still ban bitcoin

five or below five countries? thats way too small . what i know is that there are over 100 plus countries and im sure that most of these countries still didnt heard about bitcoin and other did heard bitcoin but they cant help but ban it.

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Actually, for those people who still ban cryptocurrencies they still have a chance to invest in cryptocurrency

oh how come? cryptos are already banned, meaning its not accesible anymore.

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me myself is agreeing that the using of cryptocurrency need a more supervision from the government.

only you but what about us , others ? we dont agree with that . crypto dont need government supervision because its not what they intended. . they must only work independently away from governments.

Ridwan Fauzi

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Yeah it is a long time ago but now I guess there is a few countries even we can say it below five countries who still ban bitcoin in every purpose. Actually, for those people who still ban cryptocurrencies they still have a chance to invest in since investment in cryptocurrency we don't some parties to start in. They just make an exchange such as binance exchange and they can deposit through it and they start investing.

Even, I just thinking that this situation will take a short time and the government will regulate it sooner. Other than that, we can see more countries who has decided to ban cryptocurrency but now they try to regulate it with more supervision. It is not bad, because me myself is agreeing that the using of cryptocurrency need a more supervision from the government. At least it will make them aware to create a lot of innovation through this technology.

iMark

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Quote from: marcbitcoins on August 27, 2019, 12:16:49 AM

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

Yeah I agree that, crypto can provide other options for unemployment to get another option to get a job, although crypto is very positive effect for the people. but the government does not see that reason as a reason to legalize it, the government has certain internal reasons to bancrypto, because crypto have negative effects too in the government economy

Kunnu

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Quote from: marcbitcoins on August 27, 2019, 12:16:49 AM

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

I agree with you. In my country the current stage of economy is not good at all many people are facing unemployment and the reason is not crypto currencies even crypto currencies are not regulate nor ban in my country only few people know about it the only reason is for all this dirty politics.

iMark

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Quote from: carter34 on August 31, 2019, 09:09:02 AM

Quote from: marcbitcoins on August 27, 2019, 12:16:49 AM

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

I think crypto does not completely eradicate poverty and unemployment because income in crypto is uncertain, especially its price is volatile and can hurt investors. and the government's consideration is not only from that, but what does the government get from the presence of crypto for the government itself? nothing, but losses obtained from the presence of crypto.

buwaytress

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Quote from: jaocoincrypto18 on August 31, 2019, 03:49:59 AM

Until this moment there is no reported country that became miserable after welcoming the crypto currency therefore this shows that Crypto currency is not harmful to the economy. Crypto regulation is the answer for those countries that are doubtful so maybe they should try to regulate it first before jumping into conclusion.

Fallacy of (a lack of) reporting. I'm not sure there's any country reportedly in seventh heaven either after "Welcoming crypto".

I will point out that Marshall Island's president, after proudly and boldly announcing their intentions to launch a crypto (called Sovereign I believe), got an almost immediate slap from the IMF. Thinly veiled threats about the risks of disassociating from the US dollar and the wider global system.

And shortly after that fallout, she had to go through a vote of no confidence from her cabinet (she survived).

Pretty sure it was a miserable experience.

carter34

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Quote from: marcbitcoins on August 27, 2019, 12:16:49 AM

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

jaocoincrypto18

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Until this moment there is no reported country that became miserable after welcoming the crypto currency therefore this shows that Crypto currency is not harmful to the economy. Crypto regulation is the answer for those countries that are doubtful so maybe they should try to regulate it first before jumping into conclusion.

audaciousbeing

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To say crypto are not harmful as a blanket statement is being economical with the truth because no matter how harmless an item is, it can be used for to harm people. As much as a nuclear station can be used to power a locality, it can also be sued to level the same station in the hands of the enemy of the state. For now, the volume of the transactions of bitcoin can be said to be harmless as its not enough to cause disruption in the scheme of finance but with absolute free hands, it won't be long before the people who are bent on just seeing the entire market crumble see it as a means to carry out their unwholly activities in a massive way thereby polluting the entire crypto hemisphere.

marcbitcoins

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There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

carter34

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Governments that are coming down on cryptocurrency are doing so because crypto is seen to them as something they can not comprehend being used as payment, in competition with fiat. To them is a reasonable argument but they forget to know that in the past, there were no jets, airplanes and other suffsticated ways of acclimatizing to the ever changing world.

Schirer

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The investment in cryptos can not be viewed as a risk even from governments side, becasue it is the same kind of investment as anything else
The concern form their side could be something completely different - the wealth transfer using crypto currencies. But the tracking services and regulations over the globe is starting to catch up and also this wont be a problem anymore soon.

tippytoes

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Quote from: Kemarit on August 22, 2019, 06:17:47 PM

Quote from: joshy23 on August 17, 2019, 09:37:01 PM

Quote from: Lanatsa on August 17, 2019, 09:27:24 PM

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Different reasons but surely all of those government who's taking actions and asking for KYC are trying to have a control over this industry, they are creating rules in order to make sure that people around their jurisdictions are complying with the government and not sabotaging their entire economy, crypto can't be more powerful than the Fiat that they've using it can turned out to manipulates everything around.

It just boils down to one reason, they wanted a full compliant framework here so that they won't lose the control they hold. They are just masking it that's why we see lots of reason being given by government today. Then want KYC, they want shared data all across trading platform. Because they want to know who are the individuals behind and wanted to see what's going on. Might be an interesting read for everyone: (https://cointelegraph.com/news/india-supreme-court-gives-central-bank-2-weeks-to-justify-crypto-ban).

I do believe that they really want full control on the crypto aspect the reason why they want full compliance when it comes to dealing with cryptocurrencies. But such full control is not possible in crypto. However, they can only regulate the usage of crypto because of its nature. I wonder if they truly know how crypto works.

Kemarit

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Quote from: joshy23 on August 17, 2019, 09:37:01 PM

Quote from: Lanatsa on August 17, 2019, 09:27:24 PM

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Different reasons but surely all of those government who's taking actions and asking for KYC are trying to have a control over this industry, they are creating rules in order to make sure that people around their jurisdictions are complying with the government and not sabotaging their entire economy, crypto can't be more powerful than the Fiat that they've using it can turned out to manipulates everything around.

It just boils down to one reason, they wanted a full compliant framework here so that they won't lose the control they hold. They are just masking it that's why we see lots of reason being given by government today. Then want KYC, they want shared data all across trading platform. Because they want to know who are the individuals behind and wanted to see what's going on. Might be an interesting read for everyone: (https://cointelegraph.com/news/india-supreme-court-gives-central-bank-2-weeks-to-justify-crypto-ban).

Georgfree

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Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

Cryptocurrencies have now reached the wrong level of the course and I think that the future lies with them.

jrrsparkles

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Quote from: Holly8 on August 18, 2019, 01:02:06 PM

Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

It's only harmful for governments' pockets lol. They might as well ban fiat money because government's control won't stop evil deeds. I wish real gold was a currency again like in the past. Government can discontinue any fiat money as they like so it makes me wonder if a rich person with just fiat money can really say they are rich.

On countries where no gold present will hardly oppose this and will never let this to happen even if the super powered countries agreed to remove all the fiat because the one who mine gold will control the authority which doesn't make much difference from the fiat system but on cryptos already bitcoins were present and no one is going to control so surely there will be clear decentralization on crypto economy over gold economy.

Ozero

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The fact that cryptocurrency does not harm the world economy was announced by some international organizations of the USA and the European Union, based on the fact that the volume of transactions in cryptocurrency is still too small compared to conventional currency. In the future, they can still change their minds, but we hope that this does not happen. While still in motion, cryptocurrency continues to evolve and no one knows what its development will lead to.
Mankind has not yet known such forms of cash payments or has not retained information about this. The first experience of the official introduction of cryptocurrency in Japan since April 2017 was positive. There was an increase in domestic gross income of just over half a percent and an increase in the wealth of citizens.

Holly8

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Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

It's only harmful for governments' pockets lol. They might as well ban fiat money because government's control won't stop evil deeds. I wish real gold was a currency again like in the past. Government can discontinue any fiat money as they like so it makes me wonder if a rich person with just fiat money can really say they are rich.

Matthew 22:21 Jesus said "Render to Caesar the things that are Caesar's; and to God the things that are God's." Romans 13:1 "Let every person be in subjection to the governing authorities. For there is no authority except from God and those which exist are established by God."

The same can be said about gold if they are issued by the government so I rather collect unmarked gold lol.

joshy23

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Quote from: Lanatsa on August 17, 2019, 09:27:24 PM

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Different reasons but surely all of those government who's taking actions and asking for KYC are trying to have a control over this industry, they are creating rules in order to make sure that people around their jurisdictions are complying with the government and not sabotaging their entire economy, crypto can't be more powerful than the Fiat that they've using it can turned out to manipulates everything around.

Lanatsa

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Quote from: Ridwan Fauzi on August 14, 2019, 09:28:28 AM

Quote from: imstillthebest on July 28, 2019, 02:05:10 AM

Quote from: rodel caling on July 27, 2019, 08:35:36 AM

To convince some country and government how crypto is not harmful for economy is very difficult because people bring crypto in bad ways to make fraud jus to earn money.

not just fraud but other negative practices as well like laundering , tax evasion ( like what most users said ) and many more . but there is a patch to this and the government can do something to minimize or to avoid this things to happen . in some countries people thier are paying tax or they are being charged by tax when using cryptos , there also countries that regulates cryptos and ask the crypto users to do a kyc to avoid laundering and frauds .

This is why some exchanges need a KYC for those people who create an account on the exchange, so as they (including the government) will know the asset owned by their user/citizen. More than that, the government will know all transaction who made by them, this thing was considered by government to avoid their citizen who will make an illegal transaction such as terrorist funding or buy an item that is forbidden by them. In my opinion for those countries who still ban the using of bitcoin because these reasons is really classic reason which cannot be accepted by my common sense. They only care about themselves and make a rule based on the profit they want.

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Ridwan Fauzi

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Quote from: imstillthebest on July 28, 2019, 02:05:10 AM

Quote from: rodel caling on July 27, 2019, 08:35:36 AM

To convince some country and government how crypto is not harmful for economy is very difficult because people bring crypto in bad ways to make fraud jus to earn money.

not just fraud but other negative practices as well like laundering , tax evasion ( like what most users said ) and many more . but there is a patch to this and the government can do something to minimize or to avoid this things to happen . in some countries people thier are paying tax or they are being charged by tax when using cryptos , there also countries that regulates cryptos and ask the crypto users to do a kyc to avoid laundering and frauds .

This is why some exchanges need a KYC for those people who create an account on the exchange, so as they (including the government) will know the asset owned by their user/citizen. More than that, the government will know all transaction who made by them, this thing was considered by government to avoid their citizen who will make an illegal transaction such as terrorist funding or buy an item that is forbidden by them. In my opinion for those countries who still ban the using of bitcoin because these reasons is really classic reason which cannot be accepted by my common sense. They only care about themselves and make a rule based on the profit they want.

rodskee

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Yes it is not harmful for economy.I can not see anything that can be harm our economy.what I can see is that cryptocurrency nowaday are very useful.they help our lives to make it easy.so how cone that cryptocurrency can be harm in our economy.I believe that cryptocurrency can help us to make our lufe easy and earned some money to provide our needs.its help in our economy in term of paying to make it easy as well.

coolcoinz

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Quote from: Harlot on July 28, 2019, 04:18:21 PM

I think you are only assuming that all kinds of governments don't work or they are some kind of corrupt circle hindering the development of a country.

Yes, that's exactly what i'm assuming. I strongly believe that most governments in the world are incompetent and corrupt and only concentrate on staying in power at all cost. If you're getting something from them it's supposed to buy your vote, that's all.

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But the truth is if we elect the right officials the only thing left are the criminals finding loopholes and illegal ways within the system which also affects the general public.

Do you really believe that we elect officials? On the other hand it should not amaze anymore since they were werking for decades to make us think democracy is a viable, working system.

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Let's not pretend that money laundering and tax evasion is some sort of political justice here its more of a selfish motive done by a person. All people needs to pay their taxes and its not right that they are using cryptocurrencies to get away with it.

And let's also not pretend that what is legal or illegal in the eyes of the lawmakers is also right or wrong in the common sense.

Kemarit

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Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

It's really hard to fight governments who doesn't understand what bitcoin or crypto is. They just know that crypto will bring a lot of negative effects to their economy that's why they immediately shut it down the moment it gain momentum on their country and arrested some of their people for mining, trading or even just holding coins.

And there's no way to change the government attitude, unless they voted a new President that truly supports it. If so happen that you stuck in a country wherein the government is anti-crypto then your only choices is to go out to continue your crypto activity.

But I'm sure we all know that crypto can't impact the financial standing of a certain country. On the contrary in can bring more purchasing power to its people.

JuraKruh1992

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I agree, cryptocurrencies only improve economy and make it strongest!

DoublerHunter

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Quote from: CryptoBry on July 28, 2019, 11:46:23 PM

~snip~
-- assuming that cryptocurrencies can be making problems and not as a tool for further economic development. We have to wait some more years and slowly these governments will realize what they missed.

^ The fact is this thing, cryptocurrency may use as a tool for doing bad that's the reason why government from those countries who ban crypto they did not definitely realize that it will help the economic growth also. They only look at the negative side effect on it even it is helpful. Yes, cryptocurrency is not harmful to the economy instead, we, as a user of crypto must undergo the KYC/AML implementation before we can use cryptocurrency as a tool.

King_Jas

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CryptoBry

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We have to assume that here we are referring to real cryptocurrencies and not including the many shitcoins and scamcoins still floating in the general marketplace. Now, having said that, we have to understand that major cryptocurrencies are meant to be a big disruption in the world of finance hence there are still some governments who find it hard to decide on what to do with this beast and there are those who opted to just ban its use and trade instead of looking at many ways on how to regulate the whole thing. Regulation is the key and this is the way for the government to retain the control in the whole economy -- assuming that cryptocurrencies can be making problems and not as a tool for further economic development. We have to wait some more years and slowly these governments will realize what they missed.

Harlot

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Quote from: coolcoinz on July 28, 2019, 10:06:19 AM

Quote from: Harlot on July 27, 2019, 03:52:39 PM

Still really depends though. If cryptocurrencies are a good part of the economy all the related entities within the industry will provide financial improvements for both the citizens and the government. But if illegal things are contributing more with that activity such as tax evasion and money laundering the benefit of it will be different and thats only for the select few which won't really be beneficial for the whole economy. Cryptocurrencies are neutral but they start to go to a different spectrum once they are used depending on what way.

Illegal things don't hurt the economy! You have to realize that usually it's the law that does it.
Unbound economy controls itself. It doesn't need laws from the outside as these laws usually hinder its ability to keep itself in balance. To give you an example, when there's not enough apples on the market the price grows and people start thinking of ways to get more apples. They buy land, import from other countries, hire workers to tend their orchards because with the higher prices they can afford it. If you put laws that forbid people to import or you tax them more on their product you throw everything off balance. They get discouraged from investing in apples and suddenly there is no way to satisfy the demand.

When you make something illegal you only increase its value and it's never the fault of a currency that it's used to buy illegal goods.

I think you are only assuming that all kinds of governments don't work or they are some kind of corrupt circle hindering the development of a country. But the truth is if we elect the right officials the only thing left are the criminals finding loopholes and illegal ways within the system which also affects the general public. Let's not pretend that money laundering and tax evasion is some sort of political justice here its more of a selfish motive done by a person. All people needs to pay their taxes and its not right that they are using cryptocurrencies to get away with it.

Theb

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You can blame the people who are seated in the administration because of that. More often then not the ones who are put incharge into that department are either unknowledgeable of what a cryptocurrency can do to that country or they are just simply not open-minded to the idea and believes what they first see on the news. The crypto industry wouldn't really be in this tight situation if we aren't part of politics and rushed decisions made by unworthy people in charge.

ene1980

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Quote from: TIDOVEE on July 27, 2019, 06:12:42 AM

We have to make the government believe there is no harm in cryptocurrency, the bad people have made the government lost trust in it, they already have the mind that anyone making money online is committing internet fraud, this is because of those who have dent the image. but we can rectify that impression.

I am not sure you understand the meaning of government, it is the people after all inside a system who governs and make laws and how come they are misguided, it is a complete bull shit theory, if your government is not able to understand basic things then no one is able to rectify anything till the next election Tongue

. Majority of the countries that banned bitcoin made those on religious grounds and not on the merit, just check the countries that banned bitcoin and you will have an idea.

coolcoinz

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Quote from: Harlot on July 27, 2019, 03:52:39 PM

Still really depends though. If cryptocurrencies are a good part of the economy all the related entities within the industry will provide financial improvements for both the citizens and the government. But if illegal things are contributing more with that activity such as tax evasion and money laundering the benefit of it will be different and thats only for the select few which won't really be beneficial for the whole economy. Cryptocurrencies are neutral but they start to go to a different spectrum once they are used depending on what way.

Illegal things don't hurt the economy! You have to realize that usually it's the law that does it.
Unbound economy controls itself. It doesn't need laws from the outside as these laws usually hinder its ability to keep itself in balance. To give you an example, when there's not enough apples on the market the price grows and people start thinking of ways to get more apples. They buy land, import from other countries, hire workers to tend their orchards because with the higher prices they can afford it. If you put laws that forbid people to import or you tax them more on their product you throw everything off balance. They get discouraged from investing in apples and suddenly there is no way to satisfy the demand.

When you make something illegal you only increase its value and it's never the fault of a currency that it's used to buy illegal goods.

imstillthebest

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Quote from: rodel caling on July 27, 2019, 08:35:36 AM

Crypto currency is not a harmful in our economy in fact they help to the people how lives grow from poverty, one of the example is africa crypto is helping for the african government to improve their economic to get out people from poverty.

people that are concerened are the one that helps them not crypto because crypto is only a currency that is being used by people . being harmful or not will also depend on the crypto user if what use will be doing to his cryptos .

Quote from: rodel caling on July 27, 2019, 08:35:36 AM

To convince some country and government how crypto is not harmful for economy is very difficult because people bring crypto in bad ways to make fraud jus to earn money.

not just fraud but other negative practices as well like laundering , tax evasion ( like what most users said ) and many more . but there is a patch to this and the government can do something to minimize or to avoid this things to happen . in some countries people thier are paying tax or they are being charged by tax when using cryptos , there also countries that regulates cryptos and ask the crypto users to do a kyc to avoid laundering and frauds .

Harlot

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Still really depends though. If cryptocurrencies are a good part of the economy all the related entities within the industry will provide financial improvements for both the citizens and the government. But if illegal things are contributing more with that activity such as tax evasion and money laundering the benefit of it will be different and thats only for the select few which won't really be beneficial for the whole economy. Cryptocurrencies are neutral but they start to go to a different spectrum once they are used depending on what way.

dothebeats

legendary

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Cashback 15%

That is if they have lobbying groups trying to spread the word that bitcoin and crypto is indeed not a harmful entity/thing for their own domestic economy. After all, these countries still have the right to impose whatever rule/regulation they want for the betterment of their country, of course if it complies/complements with international laws and such. Perhaps just give these countries some time before they try and look for crypto in another light, and hopefully not on the negative as some countries still do.

What legislators and the government need is to be educated in the evolving Fintech being applied by some other countries in the world. It isn't that hard to study cryptocurrency IMO, but the thing is other countries have some other priorities on the table, far more important than educating themselves on the benefits of crypto and not just the bad side of it.

rodel caling

full member

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Crypto currency is not a harmful in our economy in fact they help to the people how lives grow from poverty, one of the example is africa crypto is helping for the african government to improve their economic to get out people from poverty.

Quote from: TIDOVEE on July 27, 2019, 06:12:42 AM

We have to make the government believe there is no harm in cryptocurrency, the bad people have made the government lost trust in it, they already have the mind that anyone making money online is committing internet fraud, this is because of those who have dent the image. but we can rectify that impression.

To convince some country and government how crypto is not harmful for economy is very difficult because people bring crypto in bad ways to make fraud jus to earn money. Then hopefully time has come some country understand well crypto how to help their economy.

godhascome

brand new

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The spirit here begins encountering unpretentious wonders at the same time through its gross and inconspicuous faculties. It begins hearing unpretentious sounds and smelling inconspicuous fragrances, god is real in spite of the fact that their inclination is far not quite the same as their gross reciprocals.

TIDOVEE

sr. member

Activity: 1246

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We have to make the government believe there is no harm in cryptocurrency, the bad people have made the government lost trust in it, they already have the mind that anyone making money online is committing internet fraud, this is because of those who have dent the image. but we can rectify that impression.

goaldigger

sr. member

Activity: 2310

Merit: 355

Quote from: bitmover on July 26, 2019, 03:03:13 PM

Anyway, I don't know for sure any country which banned people from buying BTC. Do you know any?

Statistics via: https://cryptonews.com/guides/countries-in-which-bitcoin-is-banned-or-legal.htm

There are a total 111 states where bitcoin is legal and recognized by the law.

There are also countries who put a total ban with bitcoin. These are:
Afghanistan
Pakistan
Algeria
Bolivia
Bangladesh
The Republic of Macedonia
Saudi Arabia
Vanuatu
Vietnam

In addition, these countries below also banns any transaction regarding bitcoin even trading or payments etc. These countries has the potential to change their minds unlike those who are listed above.
China
India
Ecuador
Indonesia
Morocco
Zambia
Nepal
Egypt
American Samoa
Qatar

Lastly there are these countries that still undecided on what they do on bitcoin. These countries are currently in neutral and maybe still deciding whether it will be a good or a bad idea. Hope they belong to the positive ones.
Albania
Andorra
Argentina
Barbados
Colombia
French Guiana
Gabon
Jamaica
Jordan
Kazakhstan
Kenya
Kosovo
Kyrgyzstan
Malaysia
The Maldives
Mauritius
Nigeria
Panama
Paraguay
Peru
Tunisia
The United Arab Emirates
Tanzania
Uruguay

sunsilk

hero member

Activity: 2884

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Quote from: bitmover on July 26, 2019, 03:03:13 PM

Anyway, I don't know for sure any country which banned people from buying BTC. Do you know any?

I'm not sure if this list can be a reliable source: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

Those countries that are thinking that crypto's are 'harmful', I think it's not really about their economy but the characteristic that they've known about bitcoin. All they know is that bitcoin is used by criminals, for drug trades and other illegal trades but they don't want to research if why many have started using bitcoin.

jvdp

hero member

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CryptoTalk.Org - Get Paid for every Post!

Quote from: Kunnu on July 26, 2019, 02:28:45 PM

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

They don't think it is harmful for their economy or for their country citizens. actually most of the countries rejecting cryptocurrency related bills due to anonymous factors but truth this most of the politician doesn't want cryptocurrency to be act as main mode of payment it in the government banks or any government related transaction. Because if that has been done via crypto payment they will not able to to do the corruption kind of things and make money out of it.
Finally greediness of money is the matter for this cryptocurrency acceptance issue. Nothing more than that...

bitmover

legendary

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Non-custodial BTC Wallet

Cryptocurrencies are not harmful for economies, but for governments monopoly of controlling money
They can also be used to avoid taxes and money laundry. However, a bad use is not a reason to ban legitimate uses of cryptocurrencies in my opinion.

Anyway, I don't know for sure any country which banned people from buying BTC. Do you know any?

Kunnu

member

Activity: 1204

Merit: 11

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

Topic: Cryptocurrencies are not harmful for economy (Read 679 times)