Topic: Fear of bitcoin - page 23. (Read 1896 times)
Some of the government are afraid using bitcoins because bitcoins claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.” That lack of central authority is the primary reason governments are afraid of the cryptocurrency. Besides, Bitcoin users don’t need the existing banking system. The currency is created in cyberspace, when so called "miners" use the power of their computers to solve complex algorithms that serve as verification for Bitcoin transactions. And in addition, So much has been written about virtual currency and crime, that it is enough to recap the issue by stating that untraceable financial transactions facilitate crime. Drug trafficking, prostitution, terrorism, money laundering, tax evasion and other illegal and subversive activity all benefit from the ability to move money in untraceable ways.
Decentralization. It will ruin how the government runs the country.
The taxation will be loss due to investing with bitcoin.
With that, they will not see the funds of every human in their country and cannot trace it anymore. (except if they dig deep individually) which takes time.
That is why they will do anything to make bitcoin as bad as possible in the eyes of the people.
The taxation will be loss due to investing with bitcoin.
With that, they will not see the funds of every human in their country and cannot trace it anymore. (except if they dig deep individually) which takes time.
That is why they will do anything to make bitcoin as bad as possible in the eyes of the people.
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.
Thats because they don't learn more about bitcoin, they just afraid that their citizens will lose their money because of bitcoin. But the fact is people who hold their bitcoin in a long terms are earn significant profit now, even some of them are become richer . The government must learn more about bitcoin so they can make appropriate policy. 
There is nothing to be afraid of, do not be afraid of negative news about bitcoin, now in my country is not yet legalkan but I am not afraid, I think positive, there is a lot of negative news about this bitcoin, but I think bitcoin will still exist and popular and more and more people make bitcoin as an investment,
Your worries are not without foundation, Bitcoin is constantly decreasing in recent times. The recent fall in Bitcoin's exchange rate has been attributed to the fact that there are so many negative news about Bitcoin that the government is considering Bitcoin to violate the law. The government fears Bitcoin will affect the nation's banking, monetary and financial systems and try to spread public negative information about Bitcoin.
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.
The same in my country. The government sent out a notice to the public stating how dangerous it is to invest in bitcoin and even promotes banks as better and trustworthy channel of finances. They are fearing that banks would be out of use because of bitcoin and other cryptocurrencies. 
Bitcoin will definitely hurt them that is why they are sending all these negative messages about bitcoin.
It potentially could, but for that to happen we need the mass to shift to Bitcoin completely, and at this point that isn't something I can see become reality any time soon. We shouldn't forget that the far majority of the people aren't thinking about financial freedom like how we think about it. In easy terms, Bitcoin for us is far more than an investment option, which is something others don't feel and understand. If you as average joe don't understand why Bitcoin is such a powerful tool, and why aside from the speculative nature the decentralized aspect of this network makes Bitcoin what it is, then how are you supposed to be taken seriously, or even slightly contribute? Most of the people nowadays are just hype riders....
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 the government disapproves bitcoin because it is decentralized. Also, they see it as a threat to the banking system. The government does not have regulations for bitcoin making both the lay people and the businessmen to be vulnerable to anything bad that could happen through bitcoin.
They are afraid of bitcoin because it is a threat to the banking system. Because they think it is a ponzi scheme, or it may affect the economic development of their country, many countries have banned bitcoin trade.
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.
Governments and banks see bitcoin as a strong competition and yes, they are damned right about that. thus, they can do anything possible to stop people from investing into bitcoin. Governments/Banks hate bitcoin because bitcoin puts people in control of their money/asset with huge profit if saved for long-term, bitcoin is fast, secure and fully decentralized. Bitcoin market is open 24/7 while banks online open 5 days a week and 9-5 daily. Bitcoin will definitely hurt them that is why they are sending all these negative messages about bitcoin.
This is understandable. Of course, the government does not welcome bitcoin, because bitcoin is centralization, not a single country's government can control it alone. In addition, bitcoin will also reduce the banking business, and the government is very good at maintaining the interests of banks. This is a good understanding of why the country or that country is often not welcomed by the special currency.
I do not know the exact reason. probably because the Indian government does not legalize bitcoin in their country or maybe it is another strategy that may in the future benefit crypto from their country to flourish
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.
Well, not just India, many countries think that they should stay away and not invest in Bitcoin. Because Bitcoin is still a place for hackers to attack at any time and cause serious damage, Bitcoin is not protected by any software. They worry that Bitcoin will soon collapse.
Having a bitcoin is so advanvantage in so many ways and aspects. My greatest fear as of now and hoping that it will not happen in the near future is to ban bitcoin in my country. Because of bitcoin it helps a lot my family for our living. It gives us more income to sustain our needs and wants. So still hoping that my feae will not happen.
it's the fear of anything that's not under their control/authority.
Hmmmm....yes,Am really afraid of btc.Because i learnt a lot but still many times i got confused.I dnt know why..Any one can explain it simply and Shorty, what is btc and how its works? 
it's the fear of anything that's not under their control/authority.
Most of those who know really do not regulate the currency .the government does not know things that are going wrong the way should not be in any way for people .there is no need to worry a lot of the bitcoin .the government really does not accept cryptocurrency because it might even give it a financial risk .this is not make control any transaction so if what we want is to starts our sale product and use cryptocurrency for a paying .do not waste money at any rate.
The government sees Bitcoin and other cryptocurrency as threats to the their local currency. If the number of people who are using flat or physical money that are legalize by the government are being lessen then it wasn’t being use to it’s utmost purpose. Also, given the fact that Bitcoin and other cryptocurrency are independent from the government, offenders tend to use these to perform illegal actions which is not a new topic about it because it has a history regarding such transactions.
People also fear Bitcoin because they believe that it is a form of on of the many scam empowered by the internet.
People also fear Bitcoin because they believe that it is a form of on of the many scam empowered by the internet.
They fear bitcoin because it is a threat to the banking system. BTW, Bitcoin is not for the feint of heart.
Yes , and they afraid on its potentials cause they keeping themselves upper upon this platform which is obviously better than banking system, peolle can be a lot better here , they afraid cause the investments that is supposed to be for them end up being include with Bitcoin so they keep discussing shit to brainwash people.
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.
Ponzi scheme one of the reason. Without knowing everything for the whole, govertment just seeing bitcoin from negative side and never think to its postive.
Jump to: