Topic: Fear of bitcoin - page 16. (Read 1894 times)
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Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.
There are a lot of factors to consider when accepting bitcoin in a country. Due to its decentralised and volatile nature, government intervention and imposition of tax is impossible as it cannot be regulated. The blockchain technology is so complex and technical that even the government cannot track-down transactions. Now, bitcoin has been used by criminals as a gateway under the dark web for illegal transactions of drugs, etc.
Not to mention, some banks see bitcoin as something that is dangerous to invest-on due to its 'high-risk, high-reward' factor.
Just cause that is not profitable for government, I think. Invest in crypto currencies is harmful to the banking system, in some extent.
It may be harmful but the positive implications it provide outweighs the negative ones IMO. As cryptocurrencies may be decentralised and have some lack of collateral, I see it as an opportunity to invest and earn long-term profit as compared to the other types of investment.
Goverments always fear what they can't control. They have to adjust to the change, not resist it.
it could be the government of India wants its people not to be deceived. because if the people do not have knowledge about bitcoin, feared the people will loss when investing in bitcoin. therefore, the Indian government forbids and informs that investing in bitcoin is risky.
I think this is because of the last sharp rise of bitcoin in the price to 20 000 dollars. Then bitcoin grew purely on speculative speculative demand for him and he grew up because of this and showed himself as an ordinary financial bubble. Therefore, such a cautious attitude towards bitcoin from the government of India is a consequence of the December price growth of bitcoin. The Government of India is trying to warn its citizens against the risky investments of their means. One can imagine the reaction of some states if bitcoin rises to about $ 40,000 by the end of the year.
Just cause that is not profitable for government, I think. Invest in crypto currencies is harmful to the banking system, in some extent.
Govt is eventually afraid of losing their secured income from taxation of centralised currencies XD
Perhaps the government is worried if the country's currency can be replaced with this digital currency So to anticipate the problem the government as soon as possible to make a new regulation concerning bitcoin.
Fear of bitcoin, fear of bitcoin returns to ourselves, because bitcoin prices are always changing all the time, if we can not guess the future price of bitcoin will all be detrimental to ourselves, and it can also benefit us.
You have a point mate, each of us have our own thoughts and reason to fear of bitcoin. On my opinion, I fear on bitcoin if it will banned on our country and might all my effort will gone due on that possible band, well so far their is nothing to worry since it is still functional all transactions involve about bitcoin. Also, the time during downfall which I have some shares that I hold as I believe it will increase soon in the future.
Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.
Because bitcoin itself a transfer median of money which is very simpler than our regulatory banks.
Fear of bitcoin, fear of bitcoin returns to ourselves, because bitcoin prices are always changing all the time, if we can not guess the future price of bitcoin will all be detrimental to ourselves, and it can also benefit us.
Government are afraid of bitcoin because they doesnt have the control over the money of the populace when their citizen invested on bitcoin, you cannot really predict just where would your invested would go right? So maybe government are trying their best to stop people from investing in 'other country because when you lost your investments, then you can probably imagine that your money will fall in another person's hands.
There can also be a good reason for our government to advice us to stop investing on it, because we cannot predict the volatility of its price, hence making many investors unsure if they should sell their own money or not when there is an increase or decrease in value of bitcoin.
There can also be a good reason for our government to advice us to stop investing on it, because we cannot predict the volatility of its price, hence making many investors unsure if they should sell their own money or not when there is an increase or decrease in value of bitcoin.
Ofc every government is scared cuz of bitcoin, just think how many ppl knows about btc at the moment plus as I can see btc is growing up and looking at the money which we are using every day are dropping
BTC is really the most or one of the riskiest investments in the market. Thats why the government protects its people. But even though its high risk, it also has high returns. So it really depends on your risk appetite.
fear of bitcoin is for a trader who has been losing money for so long. but actually bitcoin is a fun thing and very nice to be made as a favorable thing. so only people who do not know the technology that is afraid of bitcoin.
Crypto phobia is going to be about in countries where the governments are afraid of the people becoming rich from something that is not linked to their own country where their government has no control over how it is traded and sold.
Yess because the government fear in the bitcoin . Bitcoin can destroy a bank and bitcoin cannot be taxed . Some government cannot control of digital currency to his country .
They don't want their citizens to experience the risks and be open to more losses as it may affect the economic performance of a country. They also don't want to be blamed for the lack of parameters or laws which may be discovered by citizens as well as other people when the number of people experiencing the risks arises. While the law cannot be fully blamed for it, some may point out that some have experienced lost of investment due to those facts.
Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.
I think that Bitcoin is dangerous to their currency, they always want to prove that Bitcoin is hazardous because the government does not want to have Bitcoin losses, in my country the government has claimed that people are not is invested in Bitcoin because this is a place where there are many risks
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