Fear of bitcoin - page 18. | Bitcointalksearch.org

Gabb

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Quote from: projectshivom on December 30, 2017, 06:30:29 AM

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.

It is natural for this to happen, and we should not be too surprised. Central governments would be the first affected in case of a massive acceptance of bitcoin as currency and payment system, due to the large amount of resources that would stop receiving through taxes, and that is why many conservative governments are seriously concerned about the growing popularity of cryptocurrencies, although this does not seem to be the case in countries with much greater openness in technological matters.

rtm125

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Unfortunately, every state seeks to obtain as much as possible taxes from every citizen of the country, especially if he receives large incomes. A bitcoin sent quite the contrary, full decentralization. And it turns out such a conflict between bitcoin and the state.

MI6

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Betking.io - Best Bitcoin Casino

Quote from: readygoaw on February 16, 2018, 12:56:08 AM

Quote from: Hellobx on December 30, 2017, 07:16:43 AM

Because they think it's a ponzi scheme, or that it might affect their country's economic development, many countries have banned bitcoin trading, but it's a silly idea.

I hear for the first time that the government considers bitcoin as a ponzi scheme. The government is afraid anonymity of the crypto currency due to the fact that fraudsters use it.

in my country maybe yes, government always said bitcoin is illegal investation, maybe because ponzi scheme very popular in here and it already reach a lot of people who actually don't know about crypto itself

Theyasirahmad

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most of the countries are not supporting bitcoin because it is removing third party in money transactions (BANKS) and the owners of these banks are powerful personalities, so if you will try to end someone's business he will definitely try to do same to your's

fattyforhire

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Bitcoin is a direct threat to the local currency. The government can only control their money, but with the control of bitcoin, they will have problems. Therefore, they are trying their best to stop bitcoin on their territory.

klebsiella

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The fact that the government cannot control bitcoin bothers them. They are able to figure out how to tax bitcoin, the transactions and the profits made from them because taxation is the principal source of the states revenue. Due to its anonymity, the government fears that it might be use for money laundering and other criminal activities.

bitcoinFPT

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The Govement can not control bitcoin, can not receive taxes from bitcoin so they fear of bitcoin. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin. Therefor you are have money, you have enough knowlege about bitcoin I think you will decide you should or should not invest to bitcoin. If you fear you are hard to become richer

f150

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what are you afraid of? indeed in some countries prohibit bitcoin in different ways. so also in the country where I live also prohibit bitcoin as a means of buying and selling transactions, but I can still use bitcoin by converting it into paper money first.

Gladz29

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Quote from: Kryptcoin on December 30, 2017, 07:07:40 AM

They fear bitcoin because it is a threat to the banking system. BTW, Bitcoin is not for the feint of heart.

My fear about bitcoin it suddenly stop, vanished or nothing. Because we all love bitcoins. So its important to us. So if bitcoin will disappear more of us will became useless.

amzadabir

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Bitcoin is a type of currency. Bitcoin is banned in many countries. Bitaken claims that "it is the first decent peer-to-peer payment network that does not drive its users with any central authority or middlemen." The primary reasons for the lack of central authority are the fear of the cryptougans of the government. To understand this fear, it is important to know a little about the government and conventional currencies.

readygoaw

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Quote from: Hellobx on December 30, 2017, 07:16:43 AM

Because they think it's a ponzi scheme, or that it might affect their country's economic development, many countries have banned bitcoin trading, but it's a silly idea.

I hear for the first time that the government considers bitcoin as a ponzi scheme. The government is afraid anonymity of the crypto currency due to the fact that fraudsters use it.

doaremon

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To me I think, crypto currency is not ligal. Today we have crypto currency but who knows tommorow we won't see crypto currency. And another reason is it's virtual. So we don't have any portion in our hand. All are in the internet account. Again the Value of every crypto currency are unstable. Today it has a high value but tommorow it may be at it's lowest value...

Janademir4

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government fears in some countries against bitcoin nemang have different reasons
among them they are afraid bitcoin be used as a tool of crime in the country or even afraid to be used as tool to hide corruption in the country

galkina

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Quote from: projectshivom on December 30, 2017, 06:30:29 AM

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.

This is mainly because there had been similar online scams in the past. Problem is that the government is not ready to do proper research about bitcoins and analyze the past performance before making such announcements.

huanzhong644306

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India is afraid of bitcoin because it has no way to regulate bitcoin.

Fear of digital currency threatens their banking system.

Petmalu001

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To answer that question, we first need to look at those high-profile pundits, who they are, what they have said — and even what they are saying now. My

first personal favorite is Peter Schiff. Taking a quote from him in a recent rant — er, I mean interview Peter was quoted as saying:

“The main benefit of bitcoin — the only segment of society where it’s used for something other than speculation — is crime,”

If that statement is not intended to be fear-mongering (and full of ignorance), I simply do not know what is. Peter has also made numerous other ridiculous

claims including this gem from his brash interview with Max Keizer “no merchants are pricing their products in bitcoin”.

konfuci

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Before in fear of using bitcoin because it don't know how to use it, but when I know how its work I don't feel fear anymore because it know bitcoin is now you can trust. Also don't feel fear if you know what your doing or you have knowledge in bitcoin.

TorbiK

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Diagon

People are always afraid of what they can not understand. Well, in the case of the government, probably this is due to the fact that the banking system can be abolished because of Bitcoin.

zais

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Quote from: projectshivom on December 30, 2017, 06:30:29 AM

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.

Bitcoin claims that "This is the first decentralized peer-to-peer payment network supported by its users without central authority or intermediaries." The lack of central authority is the main reason why governments are afraid of cryptoes. To understand this fear, it is important to know a little about the government and the conventional currency.

Choyor

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Quote from: projectshivom on December 30, 2017, 06:30:29 AM

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.

Bitcoin is the first decentralized peer-to-peer payment network supported by its users without central authority or intermediaries. The lack of central authority is the main reason why governments are afraid of cryptoes. Without banks, the work is lost, as are the tax revenues earned by banks and the salaries of their employees. Money transfer business will also disappear in cyberspace. No one needs a Western Union or a competitor if everyone uses bitcoin. To understand this fear, it is important to know a little about the government and the conventional currency.

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