Fear of bitcoin - page 26. | Bitcointalksearch.org

rushel22

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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.

Because there are some people who are using bitcoin illegaly and they are afraid that it will also happen in their country. So what they did is they will not accept bitcoin so they can keep their country safe from terrorism. But bitcoin is just a cryptocurrency. Anyone can use it whether for good or for bad purpose.

Prem.Soorajpaul

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0xB911101025014BfCaA3B17BC7683C0817489bB28

Everyone knows, it is not regularize currency. Govt. knows if unfortunately something goes wrong, they will not be able to do anything for their people. They are just trying to be a safer site form their voters. No need to wary those are holding bitcoins.

cryptorusin

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Bitcoin is in a bonafide official downturn, the first serious one of it's existence. Bitcoin has been rising since Sept 2016, 15 consecutive months, from $611 USD, to $19,891 USD over that time span, an unbelievable feat. At some point, a serious downturn had to happen, and so it is upon us. The Monthly W% is at -39.71. This is the lowest it's been since Jan, 2016, so you can see the level of impact

The Daily W% is at -83.24 getting ever so close to the -90's, if reached would put Bitcoin in the cellar. That would be a first. The Parabolic remains a BUY, which I think is crazy, but it is. This downturn is warranted. Price cannot continue upward month after month, the process doesn't work that way. Yes we've had a few retracements, but they were all short lived. Based on the indicators, this may last for a longer period of time than we are accustomed too. Bitcoin Investors have been spoiled with financial success.

Bitcoin can fall back on the strength of its Monthly time frame. The Bands are Diverging and MACD is rising. This downturn will be its first serious challenge, and the key Indicator at this point is its W%. How low will it go. I'll keep you informed.

Baronggot

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Simply because they don't want people to invest in bitcoin just like what they did before when they can only bought bitcoin at a very cheap price which leaves them in disbelief about bitcoin's success today.

Bourbon44

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The government holds the best interest of its people and at the same time if you look at governments like the US, they are heavily influenced by the big banks. At the end of the day banks and financial institutions are scared so they get everyone else like that too so they dismiss btc.

audaciousbeing

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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.

The reason for that is not far fetched and its basically things that have a subject of discussion several times in the past but what surprises me is that the Indian government could go to the extent of now issuing a notification to that effect to me shows some level of desperation and a cheap way to go.

It would still made some sense if there is some argument but the bone of contention that government is grappling over is just that they don't have a way to get their own cut in area of taxes and also the disruption of the social order that they wish to jealously maintained in other to continue their dominance over the populace.

malvinlee

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Because they bitcoin is more good than the bank and other business and they afraid many people will more believe to btc than bank or other business

AicecreaME

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Quote from: zenrol28 on December 30, 2017, 08:15:23 AM

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.

If that's true, well the people still have their choice if they'll invest in bitcoin despite of the high risk involved. Since some governments still don't know how to deal with cryptocurrency, they're giving warnings regarding investment with bitcoin. Until they come up with a bill pertaining to cryptocurrency regulations.

There are so many ways on how you could earn bitcoin, Investing, Trading, claiming it on Faucets, and so on, but there are also ways of earning it through those Ponzi scams out there which we thought legit in the first place, that is why if there are people who get scammed by this kind of schemes, they will post it on social media blaming that bitcoin is a scam.

So, what is going to happen next is the Government will come up to a conclusion that bitcoin is a scam and risky so we have to be aware, like WHAAAT?! I'm just laughing whenever I read articles or hearing news about this nonsense.

lusiaga

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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.

because bitcoin can kill bank economy or in worst case bitcoin also have a chance to kill world bank economy.
thats why many company using bank hate and said bitcoin is dangerous.

magicmeyk

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Because the government is just cautious and only wants to protect the interest of their people that bitcoin might be a big scam.

BrewMaster

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There is trouble abrewing

be careful not to confuse the warnings that the central banks and government give regarding investment in bitcoin as a fear of bitcoin. most of the countries that have issued warning have been doing it to make people think twice before investing more than they can afford to lose.
it is more like telling them to "invest responsibly".

but in case of some countries like India, the warnings and threats are because they are actually scared of bitcoin. and i think we have to be happy about it because that means we have succeeded.

jakirtanvir

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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.

You got the original reason. Me also think it should be the reason. Otherwise why they’re trying to stop us?

andthereyou

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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's not really dangerous as what the goverment thought bitcoin was. They just don't want the people to avoid tax , and they are afraid of crytomarket crash. Some people are also ignorant about investment they blame the government of the loss, they did not think the risk before investing. So to be on the safe side the government warned the public.

Finestream

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Quote from: Payapa on December 30, 2017, 08:51:28 AM

Probably what they fear is because bitcoin/cryptocurrencies are decentralized, and they don't have the power to control it. Normally, the government would fear for something that is beneficial to the community, continually growing positively, and they can't control. I guess their strategy is to manipulate the people, who majority doesn't know that much about cryptocurrency, by saying that it's dangerous to them. It can be easy for them, unless someone would educate them.

I believe so.Bitcoin can really attract an individual's heart and mind not just of its being decentralized,but the high price itself wherein people are really looking forward to learn how to earn and use bitcoin.With this,the government might fear that people will no longer patronize their own currency and start to evade taxes since bitcoin is tax-free.But that is too far to be possible because most of the establishments today still prefer to accept fiat currency than paying with bitcoin,although some shops are accepting it already.

Bukx

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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.

Yes thats one of the top reason why government try harder to ban bitcoin.
Country just think from risk side of the bitcoin investment and can make their citizens loss their money.

Payapa

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Probably what they fear is because bitcoin/cryptocurrencies are decentralized, and they don't have the power to control it. Normally, the government would fear for something that is beneficial to the community, continually growing positively, and they can't control. I guess their strategy is to manipulate the people, who majority doesn't know that much about cryptocurrency, by saying that it's dangerous to them. It can be easy for them, unless someone would educate them.

zarados

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Believe me, that governments who are afraid of bitcoin or not support cryptocurrency technology are a government that doesn't see technology as a very important thing for the country. Cryptocurrency has dozens of functions that can help the economy get better, But because there are a few shortcomings that can be used as a means of illegal acts, all those functions seem faded to them, so they only focus on the weakness.

Unlike the government that supports it, they are a government that deserves thumbs up for thinking ahead. And it is evident, that they will advance ahead of the others.

wagi

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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.

Wel, as we know bitcoin has advantages and disadvantages. It is used by government as reference to prove it dangerous and not to invest in there. The only most disadvantage that make government to do that is the high risk of investment

lyledark10

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The fear of bitcoin is losing of it. It seems like we users of bitcoin will be sad but there's a subtitute of alternative coins. That's the fear of losing bitcoin.

HasHe

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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.

Its a normal warning formally given by any government about new economic schemes or currencies.Bitcoin is decentralized too and pseudo anonymous.So,we could easily understand government's concern over allowing such new currencies.it is volatile too.They have the duty to protect every citizen from any scams.

Topic: Fear of bitcoin - page 26. (Read 1896 times)