Topic: Reason why other ban cryptocurrencies - page 23. (Read 4385 times)
Because they can't control crypto.They for illegal activities among criminals and provide an adoptable platform for laundering proceeds of cybercrime resulting in greater chances for crime usage.
The Bank is wondering of the blockchain technology will replace and take over it. If the users always increases, the bank will lose the customer. Every one will not need the Bank because they are freely get in their accounts and transfer and other transactions. Automatically, it will suffer a severe deficit for the Bank in that country which legal and apply blockchain. Therefore, many Bank in many country are wondering and disturbed by this new technology.
The main reason is the crypto market is too risky for users with big scams such as Ponzy structure Bitconnect or rogue ICO scam and then disappeared. Another reason is that if the crypto is open to the public, the state is afraid of managing the market because of its anonymity. But I believe that gradually crypto will be recognized if more transparency and stability in the future.
bitcoin is banned in some countries because the government has big reasons such as money laundering between people and even buying and selling drugs, and the government cannot regulate bitcoin but in fact now bitcoin is the most popular now.
Well i guess you can say that and maybe it would be true. My take on it is that banks are twisting the arm of the government because they're threatened by crypro currency. I mean why would an ordinary citizen take their money to thenbank to just sleep when they can invest it on crypto currency and watch it grow.
They have simply failed to understand it. They judge it based on past online scams.
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.
If we are basing on our experience regarding on banning of crypto currency well I think because they cannot get tax on it they will no income because no one would pay for tax in each country and they cannot handle or control on how the blockchain work, aside from that many people use this for some illegal transaction so government would not detect each transaction and they are just protecting people to avoid being scam because they have not enough knowledge regarding on blockchain. 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 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.
I think the Reasons for banning cryptocurreny are their high volatility and also that many illegal activities can be conducted via transactions using these coins.Government can't control cryptocurreny transaction. 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 simple reason they band crypto and bitcoin because they wanted to control and manipulate bitcoin like fiat. but they can't. and they see it as a danger to their economies.
On my own opinion, they are banning cryptocurrencies because it actually is a danger to their society and government. The most affected person are those type of investors who don't know what they are doing and only focusing to how they can profit but not on the possible losses for their investment. Cryptocurrency is still maturing and consider as risky investment.
So many discussion about crypto currency ban in the nation was pit into discussion. The only things that usually came up after discussion are as follows that make them ban crypto currency.
1. Market uncertainty
2. Somehow a kind of market manipulation
3. Decentralized
4. Protecting their people to be a victim of scam
Among others.
This should be address before crypto currency will be totally accepted worldwide.
1. Market uncertainty
2. Somehow a kind of market manipulation
3. Decentralized
4. Protecting their people to be a victim of scam
Among others.
This should be address before crypto currency will be totally accepted worldwide.
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.
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, it is truly indeed dangerous to have cryptos to any of the economic zone, but somehow someday people will realize it all that they can self control their own funds through crypto currencies or digital currencies. For that, they will have the freedom to do and buy anything for their own.
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 reason why cryptocurreny banned because it can be used for illegal transactions such as buying and selling drugs or weaponry. According to central bank officials, cryptocurrencies can also be used for money laundering or terrorism.Legality is one of risks in cryptocurrency investments. if there is a problem with regulation you risk lost all of your money 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 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 reasons why cryptocurrencies are banned because of security issues. The other group of reasons are usually not stated officially but is largely implied. It is directly associated with cryptocurrencies being decentralized.Cryptocurrencies make it easier for criminals and online fraudsters to demand payment no one can control it. 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.
To cut it short, The government don't generate money from it and they can't control nor track transactions from it that's why they banned it.
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.
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.
How you can prohibit Bitcoin if you cannot regulate (don't have control over it) Bitcoin ?=)
Yes, governments are trying to stop it; but all that they can do is just slow down the trend.
The main reason for any country to ban cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.
that doesn't make sense.
for instance imagine you want to launder money or transfer money outside of country. you currently have other ways of using fiat and doing this safely, without any trace and with no risk of value loss. if you launder $1 million you get $1 million dollar clean money.
but now imagine you use bitcoin to do it. first you leave a trace behind that is easy for everyone to see. then you are risking losing a lot of money. if you put $1 million in and bitcoin loses 10% (a common drop like from $6600 down to $6000) then you lose $100,000 easily!
now tell me who is going to choose bitcoin over traditional methods of laundering money?
for instance imagine you want to launder money or transfer money outside of country. you currently have other ways of using fiat and doing this safely, without any trace and with no risk of value loss. if you launder $1 million you get $1 million dollar clean money.
but now imagine you use bitcoin to do it. first you leave a trace behind that is easy for everyone to see. then you are risking losing a lot of money. if you put $1 million in and bitcoin loses 10% (a common drop like from $6600 down to $6000) then you lose $100,000 easily!
now tell me who is going to choose bitcoin over traditional methods of laundering money?
Your scenario is right in theory,but money laundering does not always mean executing "real" transactions,like buying bitcoin,ethereum,monero,some other asset or real estate.Those transactions are only on paper(fake purchases,fake loans,fake contracts),in order to fool the authorities.The real money are "laundered" without moving and without changing their owner.
The OP is right in his threa that the governments keep the stupid crypto=money laundering propaganda,while crypto isn't involved that much into money laundering.
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.
Stop with the non-sense money laundering argument. 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.
https://news.bitcoin.com/cryptocurrency-harder-launder-fiat-currency/
And why would transferring fiat to crypto would lead to poor economic performance? How many people are converting local money to fiat? Do we have any idea on that?
Yes, I would have to agree that it has something to do with control. Countries like Russia and China doesn't want anything that they can't control so its very evident on their hard line stance against crypto.
But its not a threat whatsoever, imagine Venezuela or Zimbabwe, without bitcoin, those people simply not going to survived the economic turmoils they are facing.
Venezuelans Survive on Bitcoin
How bitcoin has become Zimbabwe's crisis currency
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.
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.
How about money coming in from the country because of cross border payments then? It could help their GDP specially coming Christmas time. Asia alone has the bulk of this remittances so I guess that argument is flawed. Its p2p, we don't need banks. And that is not the problem of the technology itself. And I don't understand why they keep on attacking bitcoin but then they take advantage of the technology behind, blockchain.
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