It's the nature of bitcoin that we can't control how and who owns it. Everything has its advantage and disadvantage including the fact that more of the bitcoin is getting in the hands of the rich. They and the institutional investors are the reason for the impressive price growth.
Bitcoin has became the ultimate tool for money laundering and tax evasion and government can't fully ban it.
Topic: Rich people causes cryptocurrency ban - page 4. (Read 1340 times)
Rich people are now adapting to bitcoin because of its continuous inflation, a lot of companies and big names are investing now in bitcoin and for sure it will it can go farther. The only government are those who want to ban bitcoin because they don't want decentralization and bitcoin is against the bank but no matter what they will do they cannot do it. They are doing it because they cannot control bitcoin and they cannot do something to get benefits from it.
Gov causes it because they hate money that they cant control, thats simple
why do these rich people see bitcoin as a threat?
Rich people dont see bitcoin as a threat. Some people think like that and is an incorrect question.Quote
they can't stop people knowing about cryptocurrencies! with so much money, they can totally learn about bitcoin and altcoins and then invest in that now is a perfect time for crypto investment. I'm just confused 
Yes you are. Because you assumed something that is wrong or possibly wrong. Some people are pro-crypto and some are anti-crypto. These people may be rich or poor, but both rich and poor are part of both the groups.Just assume that many rich people have invested in crypto while many have not. Point remains the same - bitcoin is people's currency, it does not change going into hands of rich or poor. But logically speaking the rich people have a higher capital at hand and are more likely to buy crypto more than what a poor person can afford. Therefore the rich will accumulate more bitcoins and become even more rich while the poor will remain poor.
As long as bitcoin is going up, I dont see the tables turn at all.
Government is not against rich people. They are in the same boat, or at least there is a big overlap between them.
When you're rich you start looking for ways to allocate some of your wealth and once you did the obvious like some stocks, real estate, foreign currencies, you start thinking of alternatives like Bitcoin. It doesn't mean bitcoin will be "hijacked" by the rich. When some of us, early adopters decide to sell bitcoin and buy houses and cars, won't that that mean that we will become those rich people that you're so afraid of? One day Bitcoin will become a stable personal account for storing large sums of money and we won't change it.
The rich always control the world, this is how the world is governed. If you want to have control over things around you, get money. Money can buy power, so far majority of the rich are not comfortable with bitcoin, it's adoption across the globe would always be suppressed. A clear example is when Elon Musk came out strongly to support bitcoin with Tesla in the picture. This gesture made bitcoin to attain a new ATH.
* 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?
I don't really see any negative effect on it unless it would get you too addicted and could destroy your life like risking it all in crypto and couldn't handle it properly.* what harm does bitcoin contributes a country that can lead to ban?
Illegal activities like money laundering which is pretty famous and it is the reason why government is against it,Also being used as currency in black market for drugs and all sorts of stuff.
I don't blame the rich o their choice of the volume they choose to invest in the bitcoin market at any certain point. I believe every person in their shoes would do the same should they have the funds for such investment. Besides, the pump is what every one stalking bitcoin wants or is waiting for and these rich guys make it come around so, its merry for all. It also goes a long way to create publicity for the coin as, it's amazing highs and price becomes a thing of wonder for most persons. Luckily for us, there is only but a few government can do and that is limited to regulations and nothing more.
Simply saying rich people is not the actual one who is trying to ban the cryptos because even cryptos made lot of millionaires with this bull run, so people in the ruling power who knows that decentralization can become more harm to those people because they are sucking the people's blood all the time by printing more and more money every year for whatever reasons and reducing the purchasing powers of the money in the savings account.
Agree to that! those who are in power who doesn't want to see themselves getting poor due to this new system, they are the one wh have the real authority to prevent this chain.
They don't want to lose control as the benefits that they are gaining from the institutional financial market may harm by more interest to crypto industry we can't blame those rich people chances that they may also invest is possible, and for sure if that happened the authority will be more furious in banning or stopping the functions of this system from their jurisdictions.
There is no evidence to suggest that the rich were the cause of crypto being banned. In my opinion, the reason that makes the most sense for crypto
to be banned is because the government considers crypto to be widely used for illegal activities. In fact, if they do research properly, the most widely
used for illegal activities is fiat.
But the government will never admit it, because after all the government always supports fiat. So it would be unwise to blame the rich,
because there is nothing wrong with rich people buying crypto. They are free to use the money they have to buy crypto, so it's sad if it's true
that the reason the government banned crypto is because many rich people buy Bitcoin.
to be banned is because the government considers crypto to be widely used for illegal activities. In fact, if they do research properly, the most widely
used for illegal activities is fiat.
But the government will never admit it, because after all the government always supports fiat. So it would be unwise to blame the rich,
because there is nothing wrong with rich people buying crypto. They are free to use the money they have to buy crypto, so it's sad if it's true
that the reason the government banned crypto is because many rich people buy Bitcoin.
It is always a convenient excuse put up by the government that cryptocurrency is used in a large number of illegal transactions. The argument is simply not true. Analysis by various research firms have calculated that less than 1% of the Bitcoin transactions can be linked to any sort of illegal activity. Also, the proportion of transactions with such connections are going down at a steep pace (closure of dark markets might have played their part).
The real reason why the governments don't like Bitcoin is due to the fact that it is widely used as an alternative investment asset and as a store of value. The attractiveness of Bitcoin is that it is protected against inflation and this gives it an advantage over "traditional" investment assets such as stocks, treasury bonds, bank deposits and real estate. And the government tax collections get affected as a result of this.
There is no evidence to suggest that the rich were the cause of crypto being banned. In my opinion, the reason that makes the most sense for crypto
to be banned is because the government considers crypto to be widely used for illegal activities. In fact, if they do research properly, the most widely
used for illegal activities is fiat.
But the government will never admit it, because after all the government always supports fiat. So it would be unwise to blame the rich,
because there is nothing wrong with rich people buying crypto. They are free to use the money they have to buy crypto, so it's sad if it's true
that the reason the government banned crypto is because many rich people buy Bitcoin.
to be banned is because the government considers crypto to be widely used for illegal activities. In fact, if they do research properly, the most widely
used for illegal activities is fiat.
But the government will never admit it, because after all the government always supports fiat. So it would be unwise to blame the rich,
because there is nothing wrong with rich people buying crypto. They are free to use the money they have to buy crypto, so it's sad if it's true
that the reason the government banned crypto is because many rich people buy Bitcoin.
I think the inverse is in reality evident - the more institutional financial backers come to Bitcoin, the more outlandish it will get restricted. We are seeing not just the development of the number of financial backers yet additionally potential lobbyists who might ensure Bitcoin in parliaments around the planet. It's not difficult to boycott something that not very many individuals care about, it's difficult to do as such with something mainstream.
Simply saying rich people is not the actual one who is trying to ban the cryptos because even cryptos made lot of millionaires with this bull run, so people in the ruling power who knows that decentralization can become more harm to those people because they are sucking the people's blood all the time by printing more and more money every year for whatever reasons and reducing the purchasing powers of the money in the savings account.
* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* what harm does bitcoin contributes a country that can lead to ban?
- Used as payment method of illegal arms dealing.
- Used to launder money
- Used as a means of funding terrorism
- Crypto is mostly used on the silk road
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If you observe the trend, it's now the rich (institutional investors) are coming in, in their numbers so I doubt they'll do anything to sabotage their profit unless they're using a strategy that'll create fud at first so they can get cheap coins as noobs panic and sells then they begin to declare their holdings so as to create fomo and the price begin to spike high.
The rich has nothing to do with the ban ongoing instead the government, out of fear of losing funds to the crypto market are they ones causing the ban over over the countries that are affected. It's no news that more profits can be made in the shortest time possible in the cryptocurency market which is making many investors pick interest in the market.
There's a difference between the elite and the rich, all elite are rich but not all rich are elite so probably if you have used the word elite then your reasoning would had been more accepted although I understand what you're trying to say.
The rich has nothing to do with the ban ongoing instead the government, out of fear of losing funds to the crypto market are they ones causing the ban over over the countries that are affected. It's no news that more profits can be made in the shortest time possible in the cryptocurency market which is making many investors pick interest in the market.
There's a difference between the elite and the rich, all elite are rich but not all rich are elite so probably if you have used the word elite then your reasoning would had been more accepted although I understand what you're trying to say.
* 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?
* I think the major reason why in some countries government ban bitcoin because they can't control it and they don't have any single authority in bitcoin.
* The negative effect of using crypto is that not everyone can use it or have an access into it because not all people knows how to use bitcoin or even using cellphone and other gadgets that can be use in bitcoin. Also many people still live in a remote area without electricity and internet connection.
* Bitcoin can be use in illegal activities by the criminals which is also the reason why government don't want to accept and legalize the digital currency like bitcoin.
It is not actually the rich people who causes the banning of cryptocurrencies on different countries maybe it was just all a coincidence that occur and the real reason can be dig in deep into that. Lose of control to its people is one of the reasons why government wants to regulate usage of cryptocurrency or if they were seeing a potential threat that might be caused by crypto (activities of that are illegal who impose usage and taking advantage of crypto to use on illegal things) they are taking it down to prevent further harm. Government in general do wanted to regulate thing to keep them in control making them to ban those whom they cannot put under their control and not just because rich people are being into it. Maybe some factors might be affected by engagement of rich people but that is not totally the main reason for the banning.
* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
Because they have no control over bitcoin and it can also be used by some criminals on the black market or to do money laundering.
* What is the negative effects using crypto as currency?
I see no bad effects on using it except if it is banned on your country.
* what harm does bitcoin contributes a country that can lead to ban?
Like I said on your first questions, criminals can freely do any bad intentions using bitcoin leaving no trace. Their image or reputation to their people and to other countries won't be good if an issue spread about that incident. This could also result for other countries to ban bitcoin.
In my opinion, the rich are not the ones who prohibit bitcoin in one government, but the government itself is afraid of things that are not desirable in their country such as terrorists, the smuggling of certain goods, which are paid for using bitcoin and other crypto currencies,
because the nature of crypto ownership is anonymous, it is difficult for the government to control who owns the crypto currency
because the nature of crypto ownership is anonymous, it is difficult for the government to control who owns the crypto currency
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