Topic: Many Countries Government trying to stop bitcoin, what reason ....... - page 2. (Read 1518 times)
January 05, 2019, 04:09:45 AM
Firstly, the history of Bitcoin is not long enough to ensure we have abundant knowledge about it, cryptocurrency itself and the market is too fickle and volatile, to some degree, which means great dangerous. Government must ensure steadliness and security.
January 05, 2019, 03:20:20 AM
anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?
I think there are only few countries that are against bitcoin and other cryptocurrencies. They believe that bitcoin is threat to their economy and they might have also monetary laws that bans a certain kind of currency while other nations are not prepared to allow this kind of currency. But this anti bitcoin sentiments might change later when a government studies cryptocurrencies and take a necessary steps before accepting the virtual currencies.
January 03, 2019, 08:28:13 AM
simple, government fear anything that promises freedom, and anything that they can't control.
January 03, 2019, 08:28:02 AM
a factor that our government does not want bitcoin is because of the terrorism that should not happen and because it does not have taxes. but at this time the people who knows bitcoin is more increase, because they know that it has a potential for the treasure.
January 03, 2019, 06:21:00 AM
Bitcoin and all the other cryptocurrencies tend to offer freedom with the use of money to almost everybody and also charge very low transactional fees unlike the ones that are paid through central banks. The government is likely to lose huge amounts of taxes if bitcoin and cryptocurrencies are accepted to be used as payment for transactions.
We still use fiats whenever we buy a crypto so we still pay taxes and government still always earns an income . they only want to stop bitcoin maybe for other reasons but nowadays almost all countries are now legalizing cryptocurrencies . only few were restricting it but soon they will always allow it because they dont wanna get left behind on what is the latest trend today .
January 02, 2019, 11:14:06 PM
i think any transparent government will throw it support behind bitcoin, the main reason why most government are scared of bitcoin is due to the transparent and decentralized nature of bitcoin, so starching money in foreign accounts will become traceable through bitcoin. This is what the government doesn't want. They fear that adopting bitcoin will eliminate corrupt practices.
January 02, 2019, 06:50:26 PM
I think bitcoin not good to be a substitute due to the unstable price of Bitcoin, but for Assets like gold is Okay. To prevent money laundry I think is not a good reason, money laundry still can do with alts and you know the Internet is free, no one can stop it, even illegal using your bank/credit card but you can trade your gift card or something
January 02, 2019, 06:03:03 PM
Its just simple they see Bitcoin as a threat to their traditional currency and also looking at how far crypto is going if nothing is done to halt or unstable it will just overshadow and make many traditional currency less valuable.
All i can say is that they can't ignore this new technology that keeps on evolving everyday. What they did today will not going to stop it in the future, they will end up accepting it with new regulations. Some were just aware of the rampant scam complaints that they were receiving and these people keeps using crypto-currency a bad image. January 02, 2019, 05:36:06 PM
Its just simple they see Bitcoin as a threat to their traditional currency and also looking at how far crypto is going if nothing is done to halt or unstable it will just overshadow and make many traditional currency less valuable.
January 02, 2019, 04:55:15 PM
The main reason for the existence of a government that prohibits the use of bitcoin is because bitcoin has so fast price fluctuations that if it is not controlled in large numbers it can create economic chaos in the country. so actually that's why we need regulation. with the regulation, the movement and development of bitcoin can be more stable and even the government can make a rule that can maintain a situation like this.
January 02, 2019, 04:10:35 PM
It is sometimes scary when one realize the size of people joining the space even as bear market progresses. They need more than what they are doing now to discourage and control the news but I dont doubt if financial institutions and politicians are involved.
January 02, 2019, 04:05:16 PM
Bitcoin and all the other cryptocurrencies tend to offer freedom with the use of money to almost everybody and also charge very low transactional fees unlike the ones that are paid through central banks. The government is likely to lose huge amounts of taxes if bitcoin and cryptocurrencies are accepted to be used as payment for transactions.
We still use fiats whenever we buy a crypto so we still pay taxes and government still always earns an income . they only want to stop bitcoin maybe for other reasons but nowadays almost all countries are now legalizing cryptocurrencies . only few were restricting it but soon they will always allow it because they dont wanna get left behind on what is the latest trend today .
January 02, 2019, 01:35:32 PM
Bitcoin and all the other cryptocurrencies tend to offer freedom with the use of money to almost everybody and also charge very low transactional fees unlike the ones that are paid through central banks. The government is likely to lose huge amounts of taxes if bitcoin and cryptocurrencies are accepted to be used as payment for transactions.
January 02, 2019, 01:03:20 PM
They see him as a threat. After all, if bitcoin is accepted as a means of payment everywhere, it can jeopardize the use of Fiat money. No state needs this, so many countries want to ban bitcoin.
Countries think that it could be illegally used and do not want to create a threat to the economy as people would get scammed or use it wrongly. They also fear that their banks and national currency could fall under threat if everyone used this currency.
January 02, 2019, 12:43:03 PM
anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?
The only thing that you need to do in order to know the answer to that question is to think a little bit about it, governments and banks have a monopoly when it comes to printing currency so they can do whatever they want with it and people have to accept it, and as you know monopolies are very damaging for the general public because it means they do not have a choice when it comes to selecting a product or a service.So what those institutions fear the most is competition, and for the first time in a very long time it has appeared a competitor that they cannot control and that is why they are thinking about all kind of excuses so they do not have to accept it.
January 02, 2019, 10:52:16 AM
All are surprised - the course falls, the reptile falls. But in fact - this is understandable. When the banking system realized how much money it was losing because of cryptocurrency, the work started. In fact, for all positives, the cue ball will be equal to 1 dollar, or even lower. Debugging time until 2020 ...
January 02, 2019, 10:50:53 AM
Well I think it best suits if we say, the government are just trying to have control over it and not to stop it. Honestly, I am satisfied how Bitcoin works as it is now, being a decentralized one and as an anonymous user.
You have a point too.It does not mean that governments want to stop bitcoin in the first place.It's their own way of controlling bitcoin just like with fiat currency.Aside from this,the government is really thinking that bitcoin brings a lot of scam and that people should be more careful about it. January 02, 2019, 10:01:55 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.
Many countries are afraid of the latest technology development as they find it difficult to adapt with, as a result the work against it as they believed it will affect their economy negatively by promoting fraud since the system is decentralized. However, those who understand and know the value of blockchain technology are coming in to accept it and I believed with time we all see it through the positive aspect. January 02, 2019, 04:27:00 AM
I think many governments are afraid of losing power over the economy if bitcoin is allowed to be used. That's my opinion.
January 02, 2019, 04:15:10 AM
Well I think it best suits if we say, the government are just trying to have control over it and not to stop it. Honestly, I am satisfied how Bitcoin works as it is now, being a decentralized one and as an anonymous user.
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