Is it the wealthy who are the problem, or the government, which refuses to acknowledge cryptocurrency, deeming it a threat to the economy? So I doubt that the wealthy are behind this because it's another way for them to make money; they have a big head start and can make a lot of money. The government, on the other hand, needs wealthy people to pay taxes on a regular basis because they are wealthy, have a lot of money, or own a company.
According to many articles I've read, the government is always the first to oppose cryptocurrency because they are the only ones who will not benefit to this. People are wondering why the government refuses to invest in bitcoin.
Very simple.
The government prioritizes tangible assets such as gold because, in the circumstance that anything catastrophic occurs in our digital world, gold will still exist, whereas the government is unsure whether this crypto will survive in the period ahead.
Topic: Rich people causes cryptocurrency ban - page 3. (Read 1340 times)
No, the bankers are causing the cryptocurrency ban, they are technically rich people but generalizing is not a helpful aspect of the argument. How come rich people invest money in bitcoin, look at Grayscale, Microstrategy, Tesla, Square and other companies that bought bitcoin, they are rich people then how on earth are they causing the ban when they are buying a lot of bitcoin, it won't be profitable for them if their peers were to ban bitcoin, the only reason that the rich are banning bitcoin is they are suppressing those below them.
*There are no big enterprises that accepts it yet and your local market wouldn't bother integrating their measly stall with cryptocurrency payment option.
*If we are being real, the only threat is the ability to use it for money laundering, doesn't matter how some people say that bitcoin is "pseudonymous", it can still be used.
There is no clean money, no matter how hard they try to launder it. As a rule, official words are needed only to mislead, to say one thing, but to do something completely different ...* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
*They are or might be threatened that bitcoin will give the people financial freedom even though they are investing in it.* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
*There are no big enterprises that accepts it yet and your local market wouldn't bother integrating their measly stall with cryptocurrency payment option.
*If we are being real, the only threat is the ability to use it for money laundering, doesn't matter how some people say that bitcoin is "pseudonymous", it can still be used.
No, the bankers are causing the cryptocurrency ban, they are technically rich people but generalizing is not a helpful aspect of the argument. How come rich people invest money in bitcoin, look at Grayscale, Microstrategy, Tesla, Square and other companies that bought bitcoin, they are rich people then how on earth are they causing the ban when they are buying a lot of bitcoin, it won't be profitable for them if their peers were to ban bitcoin, the only reason that the rich are banning bitcoin is they are suppressing those below them.
*There are no big enterprises that accepts it yet and your local market wouldn't bother integrating their measly stall with cryptocurrency payment option.
*If we are being real, the only threat is the ability to use it for money laundering, doesn't matter how some people say that bitcoin is "pseudonymous", it can still be used.
There is no clean money, no matter how hard they try to launder it. As a rule, official words are needed only to mislead, to say one thing, but to do something completely different ... * If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
*They are or might be threatened that bitcoin will give the people financial freedom even though they are investing in it.* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
*There are no big enterprises that accepts it yet and your local market wouldn't bother integrating their measly stall with cryptocurrency payment option.
*If we are being real, the only threat is the ability to use it for money laundering, doesn't matter how some people say that bitcoin is "pseudonymous", it can still be used.
Any one can say anything base on what you understand and what you saw in your domain because right my research concerning all these also pointing at political leaders who is trying to condemned the images of cryptocurrency especially bitcoin, so Rich people is really our problems we have into cryptocurrency, so no point for argument because it has become obvious people that so called rich people are against cryptocurrency.
Well, in my opinion, I think it is about ignorance. What the government don't fully know or understand, they will perceive it as a threat. That is already at play for many years now, even if you have noticed that Bitcoin is lately becoming the talk of the town. It was the talk of the town many years ago then it declined, but with the rise of many more cryptocurrencies, there is no stopping Bitcoin and cryptocurrency as a whole now.
By reading OPs thread title, i was thinking if does these rich people do causes a cryptocurrency ban? So far what i have know was one of the reason that causes cryptocurrency to ban was the mere fact that the government are seeing this blockchain technology as a threat to the economic growth of their country which is for now was made as speculation and no evidences that proven about the statement. But one thing for sire that was made bitcoin now as a good crypto was the fact that some other countries already seen yhe great opportunity that a bitcoin could offer
There are many reasons but one conceivable reason why a few nations boycott Bitcoin is that they think that its a risk to the central bank and its a medium to evoke exercises. Individuals ought to halt utilizing it as money intead they ought to treat it like a metal resource like gold absolutely for speculation and store of esteem. Bitcoin can’t hurt anybody, it depends on how somebody will use this kind of innovation.
the past story if the issue of crypto is used for criminal matters can be used as one of the factors for the government to ban bitcoin and besides that in my opinion there are special factors for the government why it prohibits the rich in a country but the government does not publish this, so the ban is impressed secret.
The reasons to ban Crypto-currency in different countries can be of different reasons, countries that has been using crypto-currency for years now resolved in placing a ban to it, the reasons are not far from a present findings, I will not speak very much of other countries but Nigeria was as a vengeance from the government on the youth and government rivalries than is it to prevent crypto-currency underworld activities.It feels to me that it is an exploitation many don't see because they're too ignorant to understand/learn, while others in power take advantage of their ignorance to keep them in the same self-isolated circle- an economy with a majority not minority!
* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
Lose of control. One way of countries having control over their people is through the local currency. If Bitcoin ends up booming in that certain country, they lose a significant amount of control. The fact that they would most definitely take a hit in terms of taxes getting collected alone would heavily incentivize them to enforce a ban.
It is not so much about control as it is about sales taxes. Many countries do not have a method of accounting even when people want to do so.
i don't think that rich people is the cause, i mean even if bitcoin is not used by rich people, but used by so many people already, i think it can cause the ban. In my opinion, most country ban bitcoin because they can't control it, that make it harder if there's some problem coming from bitcoin. Most country also don't have rule about bitcoin yet, and it's still hard to understand and track bitcoin. So many people are getting profits from bitcoin, but i bet not many of them pay tax for that, since there's no tax regulation for btc yet in most countries. Of course government won't let that happen, it won't be beneficial for them. Not only it's hard to track and control, but bitcoin is often used for illegal things as well, so government had no choice but to ban them. If not, they have to try hard to adapt to this currency and try to find the suitable rules and regulation for it, which means more work to do.
As the fact of nature is:
Well, some of the rich ones are using it to hiding their additional asset such as black money which is a negative impact on the world economy and country economy as well it will stop the equal flow of the money. it will flow the flawed line and destroy the world economy so poor will be more poor and rich will be richer near future
Every Picture has dark aspect as well as bright one
Well, some of the rich ones are using it to hiding their additional asset such as black money which is a negative impact on the world economy and country economy as well it will stop the equal flow of the money. it will flow the flawed line and destroy the world economy so poor will be more poor and rich will be richer near future
The rich people understand crypto but not the government that is why they come in here, put their money at risk, and boom. The Government is just milking us (can't deny that) by collecting our taxes. They come to oppose rich people to go into crypto, coz they know that they can no longer ask them to pay huge taxes if they were already there.
This makes the government hated Bitcoin and they find a way to stop it, banning, and arresting people who use Bitcoin. They blame Bitcoin as the reason for increasing illegalities which I believe it was not. Because what they want is to stop people using this and come back to fiat where are in control with.
This makes the government hated Bitcoin and they find a way to stop it, banning, and arresting people who use Bitcoin. They blame Bitcoin as the reason for increasing illegalities which I believe it was not. Because what they want is to stop people using this and come back to fiat where are in control with.
When there's opportunities, rich people will always be there. Knowing that with enough money it will be easy for them
to take part and take the shot to make some good profits.
In the otherside, government always seek for money, they won't allow anyone to be freely earned without having cut
out from taxes, the very reason why cryptocurrencies are being strict to the point of banning it.
The rich people understand crypto but not the government that is why they come in here, put their money at risk, and boom. The Government is just milking us (can't deny that) by collecting our taxes. They come to oppose rich people to go into crypto, coz they know that they can no longer ask them to pay huge taxes if they were already there.
This makes the government hated Bitcoin and they find a way to stop it, banning, and arresting people who use Bitcoin. They blame Bitcoin as the reason for increasing illegalities which I believe it was not. Because what they want is to stop people using this and come back to fiat where are in control with.
This makes the government hated Bitcoin and they find a way to stop it, banning, and arresting people who use Bitcoin. They blame Bitcoin as the reason for increasing illegalities which I believe it was not. Because what they want is to stop people using this and come back to fiat where are in control with.
Undoubtedly, it has ended up increasingly self-evident recently that wealthy individuals are curious about standard individuals not being able to purchase cryptocurrency, or essentially getting freed of it inside and out.It is found most are getting in crypto resources in expansive amounts while releasing news in which they don't recommend buying cryptocurrencies.Actually correct figure matters so approximately unused bans on cryptocurrency is additionally spreading exceptionally rapidly and clearly the wealthy need to totally control the complete crypto circle and make it so that conventional individuals may not get succes immediately.
the idea is simple.
if they cant control it themselves. then they have to control who accesses it
stage one is to ban the access. then they hold the control for stage 2
stage 2 is to then allow licenced usage if particular things are met.
yep thats how the NYbitcoin licence done it. first ban. then need the licence to use.
its not about stopping people forever. its to make a wall. then make a door
you cant have a door without a wall
if they cant control it themselves. then they have to control who accesses it
stage one is to ban the access. then they hold the control for stage 2
stage 2 is to then allow licenced usage if particular things are met.
yep thats how the NYbitcoin licence done it. first ban. then need the licence to use.
its not about stopping people forever. its to make a wall. then make a door
you cant have a door without a wall
Wow, that makes so much sense now. I never thought of this before.
The current situation for crypto is the same in India. There's a FUD that Indian government might ban cryptocurrencies.
At the same time they want to embrace the blockchain technology and are planning to launch their own CBDC.
I was wondering why they are thinking to ban crypto at the first place while they can simply regularize it and profit from it.
Now I understand that they will first create a wall by banning cryptocurrency usage and then create a door by regularizing it hence having total control on their user base.
the past story if the issue of crypto is used for criminal matters can be used as one of the factors for the government to ban bitcoin and besides that in my opinion there are special factors for the government why it prohibits the rich in a country but the government does not publish this, so the ban is impressed secret.
The reasons to ban Crypto-currency in different countries can be of different reasons, countries that has been using crypto-currency for years now resolved in placing a ban to it, the reasons are not far from a present findings, I will not speak very much of other countries but Nigeria was as a vengeance from the government on the youth and government rivalries than is it to prevent crypto-currency underworld activities. the past story if the issue of crypto is used for criminal matters can be used as one of the factors for the government to ban bitcoin and besides that in my opinion there are special factors for the government why it prohibits the rich in a country but the government does not publish this, so the ban is impressed secret.
Government is the really cause to everything that happens that's why in some countries they are prohibited to use crypto such as in India now, rich people can buy more and more bitcoin as long as they want even they are from some countries they can use vpn for their security and maybe there's the fact that bitcoin is widely used in illegal activities that's why maybe government don't want it because they cannot trace the one who will made the transaction. 
Rich people do this.. rich people do that.. it is always very convenient and easy to blame the rich people. And the biggest joke is that if the people who blame the rich becomes wealthy themselves, then they will behave in exactly the same way as the rich do now. That means that the hatred for rich people arises out of pure jealousy. My only advice is to move forward in life and try to improve your own life, rather than concentrating on other's wealth.
And it is not the rich people, but the politicians who cause the ban on cryptocurrency. Here in India, one of the prominent businessmen to have come in favor of the ban is a criminal named Rakesh Jhunjhunwala. He is very close to the politicians and was accused of stock market fraud and insider trade. On the other hand, the richest people in India haven't yet made any comments against Bitcoin.
And it is not the rich people, but the politicians who cause the ban on cryptocurrency. Here in India, one of the prominent businessmen to have come in favor of the ban is a criminal named Rakesh Jhunjhunwala. He is very close to the politicians and was accused of stock market fraud and insider trade. On the other hand, the richest people in India haven't yet made any comments against Bitcoin.
the past story if the issue of crypto is used for criminal matters can be used as one of the factors for the government to ban bitcoin and besides that in my opinion there are special factors for the government why it prohibits the rich in a country but the government does not publish this, so the ban is impressed secret.
Well, in my opinion, I think it is about ignorance. What the government don't fully know or understand, they will perceive it as a threat. That is already at play for many years now, even if you have noticed that Bitcoin is lately becoming the talk of the town. It was the talk of the town many years ago then it declined, but with the rise of many more cryptocurrencies, there is no stopping Bitcoin and cryptocurrency as a whole now.
* what harm does bitcoin contributes a country that can lead to ban?
With bitcoin, people keep the money in their personal wallets were government have no access. They cannot know how much wealth anyone has and hence they can't collect taxes. Without the tax money it will be difficult for the government to manage the country. This is one of the reason why govt does not want people to invest in bitcoins. There are other disadvantages too like with bitcoin money laundering is easy.
But there are good aspects of bitcoin too. If an underdeveloped country invest in bitcoin and in few years when the bitcoin prices 2x-3x, then can sell and get rid of their loans.
Jump to: