Many Countries Government trying to stop bitcoin, what reason ....... - page 10.

Xardasim

sr. member

Activity: 1624

Merit: 250

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

what reason ?

Do you think the USA would want to give up its power? The state currency is USD which is the dominant currency and they can use it as they wish. Maybe I am wrong but I think that is the main reason.
When paper money cannot keep up with the development of technology, crypto will be accepted but it is not certain whether this will be Bitcoin.

Stac

full member

Activity: 419

Merit: 100

Many countries Government trying to stop bitcoin because.of their technological inefficiency to study and understand the in and out of the bitcoin, such people are scared of bitcoin to topple their current economy which is hardly surviving. Bitcoin is the first crypto currency started in the year 2009 and it has a strong net work systems incorporated with the modern technology. its features are very attractive such as a decentralized one with anonymity.Its all transactions are recorded in an electronic ledger with block chain technology .Bitcoin is turned as a new form of economy which is found suitable to the modern world.The block chain technology is an unavoidable part of bitcoin which ensures the security and the clarity of the systems.The block chain technology has the various usefulness which regulates and controls the bitcoins .Due to the effective functions of the block chain no body can manipulate the system and which is leading us in to a corruption free world

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

because it wastes only their ressources. and reduces trust in the banks (secondly is partitially justified)

Kayum10029

full member

Activity: 1190

Merit: 100

Especially when a government can't control bitcoin at all then they try to stop bitcoin.some government don't permit bitcoin because they don't get any fees and remittance.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

Any new invention in history was initially met with a level of skepticism and disapproval. Bitcoin was not an exceptional, it rather was a perculiar case. It targetted the monopoly of the banks and governments which was only rivalled by gold and other precious stones.

Bitcoin proposed financial freedom for it's community and investors and a new era of unrestricted and unregulated transactions which could not be controlled. That's why countries were all defiant and unaccommodating. Many are now trying to flow with the tide, rather than swimming against it.

Tnt1971

jr. member

Activity: 1232

Merit: 1

Many countries government stop bitcoin because they can't control bitcoin over fiat money and bank also refuses bitcoin and bank always against bitcoin because they don't get any remittance from bitcoin.

Mhd-Bobbi

member

Activity: 434

Merit: 13

Quote from: dothebeats on December 11, 2018, 06:45:18 AM

First reason that they.come up with is to prevent money laundering before it even becomes big. I don't see and feel the need for such bans as money laundering and fraud can still be accomplished using traditional financial instruments. If only they see the bigger picture and just allow bitcoin and crypto to flourish and find ways to monetize it instead of banning, that'll be great and far more beneficial than their proposed solution, but I guess some countries wouldn't just accept modern technologies easily, as evidenced by these countries banning bitcoin without a pleasing and convincing argument.

Expecting them to do money laundering, they only collect part of their sales, make them make the money they exchange, their income from crypto of course they will exchange it for real money in their country, I think it won't make a mistake. But I see many people who do money laundering from the results of their fraud, of course that is what needs to be eradicated, because fraud often happens everywhere.

Bennix

copper member

Activity: 210

Merit: 1

The government want to stop bitcoin because government doesn't wants its citizens to be free financially. In view to this,government wants to control,define and determine the financial status of everyone ,and due to this quest to get full control of peole affairs,they see bitcoin as a barrier that will stop them .
Recently, government pointed out that terrorism and money laundering can be perpetrated using bitcoin,but we all know that money laundering has been going on through the foreign banks and traditional banks.
On the other hand,some instutions pay tax to the government from the money extorted from the members of the public, and with bitcoin the exorbitant charges those institutions collect from people will stop.
Over time ,we have seen millions of dollars being liquidated before our very own eyes,and nothing is done about it.So,government thinks that blockchain will display accurate information, account and transactions to the members of public, and this will make the people to hold them accountable accurately.My point is blockchain don't hide any transaction information even though it is decentralized, and this is the reason it is power to the people.

bellamente

member

Activity: 420

Merit: 10

Many governments are afraid of bitcoin due to money laundering.

Do you seriously think so?

The main criminals are the deputies themselves and members of the government and they have no problems with the transfer of money

Yourdoomed

newbie

Activity: 5

Merit: 0

Tax evasion, money laundering, used to buy illegal goods and services, has no value, Ponzi scheme, no oversight or regulation, uses shed loads of electricity to mine it, Ransomware attacks, easy to steal with no compensation ......... Grin

izanagi narukami

legendary

Activity: 2030

Merit: 1028

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

My government decide to ban bitcoin it can cause inflation and can be use by corruptor ( untracable transaction )
Last news I heard were about hacking , although bitcoin was being introduce as high security investment or money but the hacker still able to hack it so the trust that being built instantly loss in one time !

burky156

full member

Activity: 658

Merit: 112

There are many unanswered burning questions here. First of all the goverments and the banks afraid of the bitcoin and the cryptocurrency. I think they don't really know what to do about it. But i am also sure that they are searching ways to use bitcoin in their benefits as well. When goverments start to determine the taxes about cryptos the problems would start to solve.

Marshall14

member

Activity: 112

Merit: 20

It's not as bad as you're trying to make it, there is no mass attack or prohibition against the bitcoin,only but very few countries have tried to stop it's trade in their countries for diverse reasons best known to them

As far as I'm concerned more and more countries are doing well to embrace the new technology,and that's a big plus for the network

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

Bitcoin is freedom because it is decentralized and governments did not want a decentralized system. Bitcoin, take power from governments and give it to the people financially and that is what our politicians will not like. Blockchain technology discovered is one of the greatest discovered of mankind and you should remember that anything that will help humanity is not always accepted by the governments.
We believe that the future is bright and we just need to allow bitcoin to be and in future governments has no option than to accept it.

sikkan

sr. member

Activity: 504

Merit: 250

'Cause the sphere is kind of hard to control due its anounymity. Then how are they suppose to collect the taxes? Besides, what about money laundering?

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

Countries like Russia and China doesn't want to give people too much control of their money. We all know that crypto will give them so much financial freedom and it will come a time that they can't really control it, so its better to stop as early as they can. Other's doesn't want the anonymity aspect of some major coins specially if they are going to be used to laundered money or used by common people to buy illegal stuff on dark web. But you also have to look at the bright side, because many countries are turning crypto friendlies around the world like Japan, Malta, South Korea or even Germany.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

"Many Countries Government"? where is the reference for that?

as far as i know and the legitimate recourses tell us only a handful of countries have actually tried to stop bitcoin. countries such as Bangladesh comes to mind. otherwise majority of the world has not been trying to "stop bitcoin" at least not publicly and not on big scales. there has been a lot of talk though mostly in the news which always exaggerates everything.

coin8coin8

member

Activity: 168

Merit: 47

False Moon

If you can learn more about the nature of money, you will understand.
In fact, in modern society, one of the most important functions of money is as a means of government control of the economy, so all the countries we see today have their own national currency, the most successful example of which is the US dollar.
The government created “wealth” out of thin air by issuing additional money. Please note that wealth is not the money itself, but the exchange value behind the money.
And the emergence of Bitcoin undermines the government’s coinage, which means it can exchange value without going through the government’s currency.
Any government is greedy, they don't want to see such a situation, so they must be against Bitcoin.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

Why are you asking about many countries? Only 8 countries are totally hostile to bitcoin and other 7 or so have some restrictions. Bitcoin is legal in most of the developed countries and is still not regulated in most of the countries. So, to sum up, the world is not hostile to bitcoin, but is mainly neutral, while developed countries mainly welcome it.

Quote from: dothebeats on December 11, 2018, 06:45:18 AM

First reason that they.come up with is to prevent money laundering before it even becomes big. I don't see and feel the need for such bans as money laundering and fraud can still be accomplished using traditional financial instruments.

Money laundering seems to be an excuse for bans and regulations, not the actual reason, since, as you mentioned, banks are also great for fraudulent activities. It's unfair to accuse cryptos of money laundering. Even though transactions are pseudo-anonymous, blockchain at leasts prevents centralization and makes all of the tranfers visible.

alex_gr_cc

jr. member

Activity: 322

Merit: 1

Quote from: rakibul1364 on December 11, 2018, 06:13:49 AM

anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?

I have not found that any country completely prohibits bitcoin or other cryptocurrencies. As a rule, we are talking about any regulation. Maybe even hard. But not a total ban.

Topic: Many Countries Government trying to stop bitcoin, what reason ....... - page 10. (Read 1518 times)