Reason why other ban cryptocurrencies - page 2.

ningrumxxi

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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.

the presence of bitcoin as a new currency is indeed very threatening the economy of some countries, because with the absence of government control it allows criminals to use bitcoin to become a media for buying and selling something that violates the law, the government is also difficult to detect money laundering that can be done using bitcoin .

SeVenlast

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● KEEP CALM & HODL ●

Quote from: bakkang on November 14, 2018, 09:00:37 AM

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.

Yes you're correct. The main reason why a lot of government still don't want or still ban cryptocurrencies because they can't control it they cannot regulate it that's why they ban cryptos. Some people said that cryptocurrencies makes the economy of one country become poorer.

Crypto world can not be controlled by others to have bad prices or good prices always. So everyone who uses that can do that.

Stac

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There are many reasons why cryptocurrency is banned in several countries first of all cryptocurrenncy is an independent electronic type of currency and a digital decentralized one so there is no need of a third party involvement such as the central bank or a governmental influence for the transaction of currency .Due to unawareness about cryptocurrency and difficulty for the government to pick up about crypto they try to ban but now there may be changes the government is now slowly understanding the potentiality of this modern technology may bring some changes to accept it slowly. The reason for the ban the government is blaming that due to the decentralized mode there will be hackers to hack and will make the people desperate . The blockchain technology forces the government for changing their mind since the block chain technology gives security and the transaction made in Bitcoin or cryptocurrency are recorded in public to all .

Wingo

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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.

The government is the number one enemy of cryptocurrencies. The main goal of cryptocurrencies is to offer freedom to the people. Cryptocurrencies is the most effective way to transact with complete anonymity. It is sometimes misused for illegal transactions. Bitcoin is used in the blackmarket for drugs and other illicit product, another reason why the government wants to regulate it. But the things is, cryptocurrencies cannot be controlled, it will defy its main purpose.

KorakPawon

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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.

Simple, it's because bitcoin is uncontrollable and it's hard to measure the circulation, unlike money or even gold. Besides, it's not easy to get part of it, that's why bitcoin is banned.

ivanst776

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First, government cannot see the transaction to whom and to where the profit will be.
there will be no name on every address wallet we have.
everything is about KYC which mostly dont have! crypto is a threat to FIAT and that is reality!

virasog

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Quote from: Wodomi on December 10, 2018, 08:48:12 AM

Quote from: fly99 on November 12, 2018, 04:31:45 AM

The ban on cryptocurrencies must be correct. The government is not afraid of cryptocurrencies, but is worried that many people will go bankrupt during the growth period. Only when the cryptocurrency market is re-accepted by the government will they be open. This is to protect the people, knowing that countless scammers want to rely on fraud to get rich overnight, which is much faster than any investor making money.

The government in principle accepts all new technologies with consideration of the added value that exists in these technologies. Why do many countries ban bitcoin, because of anonymous factors and high price fluctuations. The consideration is to protect citizens from losses that might occur if bitcoin is legalized in the country.

There are many reservations for the governments when it comes to crypto currencies. Governments consider crypto currencies as a treat to them and they by all means try to avoid and discourage people from using it. I think they should realize that no one can stop people from adopting new technology.

glowing10

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Major reason that I think that any country’s look is that can it be lead be Misutilised . Are their more advantageous or disadvantage of having it. How much revenue can govt earn from it and how will it be useful in long run. Some of the basic steps which anyone looks into .

trauchot

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I think that many governments, of course, are afraid of manipulation and dirty money that are transferred through cryptocurrency, but I think that when the cryptocurrency will be regulated by the governments, technologies will be created that will change many cryptocurrency capabilities and then all countries will be able to begin legalizing cryptocurrency.

basyang

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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.

Yes. We can not blame the countries who did not accet bitcoin because they have a rules and regulation to follow to become peaceful and better their country. Government has their own basis to adopt or not cryptocurrency. I know the number one reason they refused to accept it, is because it can use to money laundering. They just want to avoid some cases like this.

Wodomi

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Quote from: fly99 on November 12, 2018, 04:31:45 AM

The ban on cryptocurrencies must be correct. The government is not afraid of cryptocurrencies, but is worried that many people will go bankrupt during the growth period. Only when the cryptocurrency market is re-accepted by the government will they be open. This is to protect the people, knowing that countless scammers want to rely on fraud to get rich overnight, which is much faster than any investor making money.

The government in principle accepts all new technologies with consideration of the added value that exists in these technologies. Why do many countries ban bitcoin, because of anonymous factors and high price fluctuations. The consideration is to protect citizens from losses that might occur if bitcoin is legalized in the country.

Triwiyono

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That's right, that's the reason why some countries ban bitcoin, one of which is because bitcoin can be dangerous because it cannot be regulated by the government. and maybe bitcoin is banned because it is afraid that conventional currencies can be replaced by the existence of bitcoin, because with bitcoin all transaction processes are easy to do, such as transfers between countries easily.

brooklynian

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Countries have their various reasons for banning cryptocurrency within their territory. Many see cryptocurrency as an innovation that will further aid all sorts of financial crime and terrorism. Some just decided to ban it out fear of loosing out of their hold on the financial lives of people due to decentralization.

Betwrong

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Quote from: binhvo1505 on November 09, 2018, 10:57:18 PM

certainly so. Because governments simply will not control people's incomes, they will not be able to get reasonable policies to support the country's future plans. It is very dangerous and they offer a ban on a reasonable choice.

the role of government is very vital here, with the government's point of view that assessing the risk is greater than the reward, certainly makes the reason not to legalize it. and this affects many of its citizens

Government feeling is there is a huge risk involved in the crypto currency due to fluctuations in the market and the technology is also completely different and they are still in dilemma whether to believe it or not. Some government are still in dilemma whether to legalize it or not.

Imo there's nothing to "believe" in if we are talking about adoption of cryptocurrencies and blockchain technologies in general. The thing is that people who run some countries lack of minimal education regarding current technologies and in some cases even simple math. That's why they have trouble understanding it and they normally forbid everything they don't understand, just in case.

YinShuiSiYuan

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Quote from: JoeHilton on November 10, 2018, 12:28:53 AM

the main reason is that cryptocurrencies are decentralized and they can not control cryptocurrenies. they don't want something that they can not keep it in their hand.

You can find hundreds of reasons for banning cryptocurrencies. And everyone will be just as good for governments to introduce restrictions. However, I think that a way must be found to reduce fraud and use the crypto for criminal purposes. This will significantly improve the image of cryptocurrencies and will facilitate the path to their widespread acceptance.

RadjorBlade

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Quote from: fly99 on November 12, 2018, 04:31:45 AM

The ban on cryptocurrencies must be correct. The government is not afraid of cryptocurrencies, but is worried that many people will go bankrupt during the growth period. Only when the cryptocurrency market is re-accepted by the government will they be open. This is to protect the people, knowing that countless scammers want to rely on fraud to get rich overnight, which is much faster than any investor making money.

Cryptocurrency is prohibited because the government sees something that is not true in its application, so if want to be accepted there must be a mutually beneficial correction. It is impossible for a policy to be implemented by the government if it harms one party.

horrifiedx1

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Quote from: Allura74 on November 14, 2018, 09:47:26 AM

Quote from: bakkang on November 14, 2018, 09:00:37 AM

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.

Yes you're correct. The main reason why a lot of government still don't want or still ban cryptocurrencies because they can't control it they cannot regulate it that's why they ban cryptos. Some people said that cryptocurrencies makes the economy of one country become poorer.

As what I have read on articles regarding governments want to banned crypto currency is because they are accusing that crypto is a root of a money laundering, option of criminals to seek easy access of crime act, but despite of this reason what I have think is that the only reason they want to banned is simply because they have no control and they cannot take money from it.

I think this is inseparable from the politics of a country. of course there are politicians who forbid it because they don't want to get out of the safe lane. so as if disturbed by the presence of cryptocurrency, because it is a new thing

Allura74

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Quote from: bakkang on November 14, 2018, 09:00:37 AM

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.

Yes you're correct. The main reason why a lot of government still don't want or still ban cryptocurrencies because they can't control it they cannot regulate it that's why they ban cryptos. Some people said that cryptocurrencies makes the economy of one country become poorer.

As what I have read on articles regarding governments want to banned crypto currency is because they are accusing that crypto is a root of a money laundering, option of criminals to seek easy access of crime act, but despite of this reason what I have think is that the only reason they want to banned is simply because they have no control and they cannot take money from it.

goldengold5

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I think some countries have forbidden electronic money because their government is afraid of losing investors. People continue to invest in electronic coins, we know that electronic money is decentralized so that governments can not regulate it.

bakkang

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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.

Yes you're correct. The main reason why a lot of government still don't want or still ban cryptocurrencies because they can't control it they cannot regulate it that's why they ban cryptos. Some people said that cryptocurrencies makes the economy of one country become poorer.

Topic: Reason why other ban cryptocurrencies - page 2. (Read 4352 times)