Topic: Why do countries and banks keep dumping on Cryptocurrency? - page 2. (Read 201 times)
Because it's revolutionary and a direct threat to fiat economy. It doesn't help that some of the early use cases for Bitcoin were illicit activities, providing a convenient pretext for the establishment's resistance.
They are afraid of the tech and the fact that it is decentralized means that no one person or organization can control it which means that they can no longer control our money and what we can do with it.
I heard that in Dutch the banks refuse accounts for cryptocurrency business. All of the major banks in dutch refuses entrepreneurs that are active in cryptocurrency to open business accounts because of the reason because of "too great compliance risks". Only online bank Bunq allows cryptocurrency businesses to open accounts under certain conditions.
Well, not all countries ban Bitcoin and other alternate coins, Most of the countries are just looking for ways to regulate the currency so that their citizens' investment will not go down the stream. There is great potential in cryptocurrency. some countries have even taken some steps in creating their own cryptocurrency. which is a very good idea
Every bank in every country is likely to ban cryptocurrency especially bitcoin, because cryptocurrency is something that fluctuates. When talking about benefits, cryptocurrency is very useful for people, because it can make people earn a lot of money in the near future, But you must be aware that such things can affect the growth of the value of the currency in each country, it could be at one time the price the currency in a country will get mired by bitcoin, I may not know how logically, but many bank officials in every country always say so.
All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Problem is that creating your own currency in many countries, if not all is seen as illegal act. With cryptocurrency, since it's peer to peer you can't stop it. So of course that there will be fear from those people that are comfortable with things they are right now and they don't want the cahnge because now they are in control of how things work.
The countries and banks knows that with cryptocurrencies, they have a harder time controlling the money of the masses since with cryptocurrency, we can bypass them entirely and spend our money whatever way we please.
I think the fast changing of the value of bitcoin is one of the reason of so many bank.
Quote
Why do countries and banks keep dumping on Cryptocurrency?
Its direct threat to their hegemony. Its a novelty, that people dont understand. New things are pushed away by old people, its normal phuman psychology.
This are main two reasons. Time will solve this
All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Maybe not all countries and banks are against cryptocurrencies. I think you are exagerating the facts that some countries are banning cryptocurrencies and believe in false news about it. As an investors we should have to believe on the positivity of our investments even against the odds of banning and dumping. Right now what the government do is to protect their people agains the fraud brought by some scambags using cryptocurrency to extract money from investors. I dont think the government are trying to kill cryptocurrency but instead they are just protecting their citizens from a possible loss because of the volatility of cryptocurrency.
All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Banks feel threatened by cryptocurrencies because banks rely on customers using banks for holding customer funds. This allows banks to use a theses funds to lend out to other customers in the form of mortgage loans and car loans. They also make a lot of money on customers using their credit cards for purchases and in interest fees on credit card balances. If customers switch to cryptocurrencies for storing money and as a method of payment, banks lose money.
@ OP i understand that you are new to crypto currency trading and the market trend just changed from the free flowing growing market to an unstable market when you started trading,these things happen and it will change at a later stage,we will have regulations but no one is going to ban bitcoin,the market will move according to the news and that is nothing new,just hold on to your coins.
I don't think you have read the news in the past days. We are not hearing bad news nowadays. We heard some good news from Germany, Uzbekistan and even United states.
Do not exaggerate! Not all countries prohibit bitcoin, do not believe all the news. For example, Germany recognized bitcoin as a means of payment! So, you can continue to deal with crypto-currencies and believe in their development.
All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.
I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.
It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.
Jump to: