Reason why other ban cryptocurrencies - page 18.

BaraxLo

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Quote from: ucingucingan on August 30, 2018, 05:12:31 AM

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...

You just hit another good point. Some government might be kicking against it because they think it is very risky and people might be losing their money through it.

But bitcoin is not the only risky thing there, it’s an investment and they should all know that investment has risks involved so anyone that is investing their money in it should be aware of that. Though another I have seen a lot of people complain about is the manipulation in Bitcoin, whales are now using it as an opportunity.

pokang13

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I think it is because of ignorance of what cryptocurrency is.Some people are skeptic about it and they are afraid it won't materialize.If only they knew and understand why crypto was created, then I am sure they will not ban it.

walemil

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Governments want to be in control of cryptocurrencies which is a bit difficult for them due to decentralization and as a result of this, some governments are prohibiting or banning cryptocurrency within their territory on the ground that it can facilitate money laundry. The fiat currencies under the control of government is still being used to launder money. I think there is more to the governments' decision.

UchihaRukawa

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I think, cryptocurrency is being banned in many countries because of some tax issues, the government is seeing hiw people are getting loads of money without them hacing to pay taxes or in other worlds without the government grtting anything from it. I guess one more thing is the paper works needed, the legal matters and all the talks before cryptocurrency gets accepted fully.

Ividanik

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I think the only reason is that banks worry about their business loses. And because they sponsorship politicians, they ask them to help keep money transferring business in their hands as much as possible.

ucingucingan

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I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...

Dr.Osh

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Quote from: Kat_messy on August 30, 2018, 03:25:23 AM

Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China. They are banning it only because it does not comply with they law system.

well, hopefully it won't increase. I also heard that Arabs banned bitcoin, and that was a shame. I just hope that they all open opportunities again in this case, so that the cryptocurrency can be developed.

rickyNmorty

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Quote from: Jamboo30 on August 21, 2018, 11:31:46 AM

I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.

The government perspective is the reason why it is banned. Government tends to disloke crypto because of its nature. Just like its decentralization, also it is uncontrollable. That is what the government do not like. They want to take incharge to things that will help the economy to rise. They wanted to have the role in everything.

Kat_messy

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Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China. They are banning it only because it does not comply with they law system.

cryptocurrencyguru

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Baning cryptocurrency is of no use there is no certain way of banning cryptocurrencies they can keep only certain rules every now then but cryptocurrencies are decentralised

BartS

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Quote from: Indrawan77 on August 24, 2018, 09:16:52 PM

There are so many reasons why crypto being banned, the crypto doesn't really give a good benefit to the country, the country cant control it and its easy to do tax evasion, the money laundering reason is a bit absurd, but the government will used a lot of ways to surpress crypto movement, and as long as the government cant gain control, the government will not accept crypto

I will say that what you say it is not completely accurate, cryptocurrencies are not good for the government but are good for the population in the country, you just need to look at countries that are in the middle of an economic crisis and how people are using cryptocurrencies to protect themselves from the bad policies of the governments and they do not like that, since how are they going to control you if they cannot control your money?

spongegar

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If that is the only reason a country will ban crypto currency then why don't they juat have a KYC on their accounts to know anyone who is actually getting into crypto currency their their country. I think the reason for the ban is that banks are putting the pressure on the government because they are threatened by crypto currency growth.

Brama Jasa

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Quote from: kenlyresuello08 on August 21, 2018, 02:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

true, because some countries still prohibit bitcoin, but the fault is that the government does not want to join the cryptocurrency world and create legal exchange laws, sending and so on so that all transactions can be controlled, I think if all works together it is not impossible that the cryptocurrency will be accept in all countries

SoiledDove

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Quote from: kenlyresuello08 on August 21, 2018, 02:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

So governments don't like crypto currencies because they are unable to control them. So it seems crypto currency will be the one thing that gives the man or woman in the street back their freedom. I guess the government's role in the end will be to be an overseer and the people would be mostly independent with a financial system which is free from government control. Is this what we're looking at in the future?

BigBos

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Quote from: pragna on August 28, 2018, 09:06:11 AM

Quote from: kenlyresuello08 on August 21, 2018, 02:13:27 AM

McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.

all of them refer to illegal transactions which will harm the government. because they don't have things that can prevent the transaction, so they ban crypto so they can reduce the fraud.

jonatuzc

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Quote from: Fishthatgirl3 on August 26, 2018, 09:54:41 PM

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Volatility should be something every single person investing in the space should be able to understand and handle all by themselves, and should not be a criterion for the government to want to ban cryptocurrencies. Sure, we may say the main reason is that it is an uncontrolled space and that gives room for any manipulations, but as time goes on, and with some lenient form of regulation, I want to believe all these would change.

pocketfullofpoke

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In contrast to the claims that those countries who banned cryptos are just afraid for the decrease of their GDP, Japan, for instance, states that because of their full adaption of cryptocurrencies, their GDP has grown significantly than those times when cryptos are not invented yet.

Epimetheus

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Quote from: eko23 on August 21, 2018, 11:25:16 AM

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis

No government never want something in their country which they cannot control and which can be affect their country economy or financial markets. Cryptocurrency are decentralised nature is the main point of view around this topic. Another thing is its untraceable and uninterrupted money transaction facility. This facility attracts many anti social people to use this kind of money transaction medium for their various crime purposes like kidnapping, cyber attack, malware attack etc. So it is another reason behind this topic. Another thing is its volatility which affects an country share market.

pragna

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Quote from: kenlyresuello08 on August 21, 2018, 02:13:27 AM

McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.

Airbuxf

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You are right but in this situation there is not much they can do about it. There are already untracable, anonymous coins. They will have to legalize it sooner or later.

Topic: Reason why other ban cryptocurrencies - page 18. (Read 4352 times)