Topic: Fear of bitcoin - page 17. (Read 1894 times)

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Fear about bitcoin is it will stop, and the next generation will not recognized about this. So let us pray that bitcoin will not be vanished. Because bitcoin is part of our life.

Some of the governments banned Bitcoin because they are not in control of the transactions and they aren't able to gain from it. It is not yet regulated and no tax collected from all the transaction. Also, Bitcoin is using blockchain technology which is decentralize. Basically, the government wants to control everything and bitcoin's system is a conflict from the government's system.

I agree to the governments warning that bitcoin is risky or dangerous but not on its totality. Remember transactions are done online and anything can happen on the internet. Their are scams, fraud and hacking or just a very simple negligence that could occur just any moment in time and results in losing your coins online. But on the other hand the system on how bitcoin was made is really safe. Its just so hard to crack the codes easily. You'll die waiting to crack it not unless Mr. Satoshi would give you the code most probably.

Maybe it's caused by the unpredictable price movement of bitcoin, so the government is worried that its citizens are losing,
that's why some countries forbid their citizens to invest in bitcoin

Perhaps the country's government is afraid that the currency in that country is losing the bitcoin currency, compared to the more practical bitcoin real currency, can provide more benefits for the person.

For me i don't have any fear for bitcoin I really enjoy having it and work for the bitcoin  world

because every country has they're own assessments in cryptocurrencies,most of them see it as helpful element that can make the specific country progressive and contributes to the economy ..but some of them seeing this as criminal outputs to help terrorist or cartels thats why they are doing best to prevent this entering theyre countries

May be that Government are afraid to accept bitcoin because we all know that there is a big possibility that it beats their fiat or real money. And may be government are afraid because there is no tax with bitcoin, since there are so much demand in bitcoin but there's no have profit for the government. It is only based on my opinion.

Because countless people are being scammed using the name of bitcoin and many misconception are spreading about bitcoin which is a pretty good reason to br feared about bitcoin. People need to have knowledge about bitcoin and ehat are the benefits of bitcoin that can be vital in our lives.

There are some scams that associates bitcoin with them, these scams actually make it look like bitcoin is also a scam. I guess the government is being cautious because ofcourse it can affect the economy be it good or bad. But as a user, we also need to know how things work before taking risks.

Maybe they scared that people bot work in a private store or company. Because bitcoin got big profit than working private conpany or store. And i think other country didnt other stand bitcoin on how they earn.

is basically not afraid of bitcoin but people are more likely to be afraid of the government, on the grounds of frozen banking but if the government understands bitcoin it will not happen.

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they just do not want people to keep their owned assets dibitcoin that they can not take taxes from it so they do spread the ban on investing to bitcoin but of course people are already thinking about it

I don't fear bitcoin if i do then probably i'm not here in this forum, I'm wat too busy on cryptocurrency than any other things in life. My parents wants me to stop investing in bitcoin and working for some campaigns. Soon i am able to get what i want in life with bitcoin.

If You tell me where I can invest without risks I`ll be very thankful  to  You! And please tipe some proofs, maybe articles, about this)

There are many aspects such as tax evasion, money laundering or irregular price valuation and so on. Governments that want to monitor the income or assets of their citizens and other crypto currencies that can not provide transparency to them.

It's not the fear of bitcoin, why some countries are banning cryptocurrencies. These governments want to prevent criminal activities like money laundering and want to keep control on all financial aspects. As cryptocurrencies are decentralized, they're afraid they have no control of what's happening in this space.

if people took off their bitcoin blinkers for a second they would realise that most of the messages coming out of central banks are factual and sensible.


https://www.businesstoday.in/current/economy-politics/bitcoin-rbi-alert-reserve-bank-warning-cryptocurrencies-virtual-currency/story/265386.html

"The RBI says that virtual currency being in digital form are stored in digital-electronic media that are called electronic wallets. Therefore, they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack etc. Since they are not created by or traded through any authorised central registry or agency, the loss of the e-wallet could result in the permanent loss of the VCs held in them.

Payments by virtual currency take place on a peer-to-peer basis without an authorised central agency which regulates such payments. As such, there is no established framework for recourse to customer problems/disputes/charge backs.

There is no underlying or backing of any asset for virtual currency. As such, their value seems to be a matter of speculation. Huge volatility in the value of such currency -in this case bitcoin-has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value.
So far, cryptocurrencies are being traded on exchange platforms set up in various jurisdictions whose legal status is also unclear. Hence, the traders of virtual currency on such platforms are exposed to legal as well as financial risks.

It has been reported that usage of digital currencies are largely for illicit and illegal activities. The absence of information of counter-parties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism laws."


all of the above is completely, totally true.

there is no protection if it goes to zero. no one is in control of it. no one can tell you if it's gonna be worth anything tomorrow. that can't be denied.

people are coming from banking systems that are in theory going to protect your money. bitcoin will not.

end of.