Topic: Why Goverment is not recommending to use digital currency such a bitcoin? - page 2. (Read 2242 times)
May 27, 2018, 02:11:26 AM
Because bitcoin is not regulated by the bank. And it's hard to know who its users are meaning bitcoin is anonymous. The government is also afraid that everyone in his country invests in bitcoins. Therefore the government does not recommend bitcoin for use in the country.
May 27, 2018, 02:11:10 AM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
I think because why government is not recommending to use bitcoin is because most of the cryptocurrencies are decentralized and they cannot control cryptocurrencies because it is decentralized and having a tax is not possible.
May 27, 2018, 02:02:24 AM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
In my way of thinking why other governments are discouraging its citizen to use digital currency is yhey are afraid physical money will replace by a digital currency, for sure they also thought about the scammers of bitcoin and many investors will be victim in this blockchain. And also they though about the negative effect of it in the economy of the country. And the government also can not control bitcoin so that they discourage theirpeople to use it.
I am hoping that their has a government who are encouraging their people to used crypto currency in their country as one of their mode of payment.
May 27, 2018, 02:01:39 AM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
In my own opinion, governments is not recommending to use digital currency because in digital currency there is not tax to be payed so they don't receive money from digital currency. Another thing is cryptocurrency is allowed in any country so I think it is the another reason why they don't recommend digital currency.
May 27, 2018, 01:56:59 AM
The most reason why government is not in support of bitcoin and other Coin related, is because bitcoin is a crypto currency that is acceptable to any nation and also a digital money, base on that, them prefer country currency to avoid money.
May 27, 2018, 01:52:50 AM
Most governments have lots of suspicions concerning Bitcoins, they are mainly uneasy with the freedom Bitcoin offers its users and the unknonimity Bitcoin offers its users. There is also a common claim that Bitcoin fuels crime as outlaws use it to make illegal transactions, something most governments ind unattractive,
May 27, 2018, 01:26:05 AM
Yesterday I read an article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
Many of these governments have no plan to endorse nor recommend bitcoin or any cryptocurrencies to their people for many reasons but most of all their inability to overcome decentralization and control it. Few governments are also planning to issue their own cryptocurrency and they will recommend it to their people to use it instead of bitcoin or any other existing virtual currency.
May 26, 2018, 02:53:35 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
Governments were discouraging us not to used digital currency because of the main reason they can't control it,paying taxes in every transactions was one of the main income in a country that is why governments hates and fears bitcoin because of decentralization concept which most users and investors benefited from it but the governments cannot benefit.For users we consider this as the answer to our hunger to minimize the percentage of paying taxes because some government officials used our taxes in corruption and illegal activities,we keep on paying and we can see that their people still lives in hunger and poverty.
May 26, 2018, 02:52:21 PM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
Because governments will lose mnay investors. Instead of investing in governments controlled businesses or invest in their country, people would choose to invets in cryptocurrency because it has easy and fastest way to return their investment and profit.
May 26, 2018, 02:47:49 PM
bitcoin is a digital currency and not a physical form of currency like the notes and coins. bitcoin is a decentralised currency which gives the user absolute control which means it cannot be controlled by the government. bitcoin transactions are monitored and managed by a technology called crypography and its transactions are recorded on a public distributed ledger called the blockchain. bitcoin is volatile, which makes it value to change constantly. its values are not determined by government policies. all of this makes it impossible for government to have control so they cannot recommend it.
May 26, 2018, 02:33:10 PM
Technically, it will destroy them because bitcoin which is a digital currency encrypt techniques that used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank, as defined by google. In short it is decentralized and cannot be controlled by anybody even the creator of bitcoin itself. That is one of the feature that is why bitcoin is unique. Although there might be advantages and disadvantages, let's focus on the positive side of it wherein many people and citizens of a certain country may benefit from it.
May 26, 2018, 02:13:26 PM
The government can never recommend bitcoin or any other crypto currency in the territory due to the fact that digital currency are decentralized and at that can not be control by the government and the two thing the government look at in any commodity is the control their have over it and the tax their tend to generate from such commodity in other to enhance the wellbeing of their citizens.
May 26, 2018, 02:13:08 PM
Most of the gourvenemts of the countries of the world are not recommending the bitcoin as with the more regulation of bitcoin in there country can affect their national currency which cause the devalue of currency and can affect the economy of their country.
May 26, 2018, 01:05:25 PM
I think it is because bitcoin is decentralized that the government cannot control it and i think they are afraid so they are not supporting it.
I fully agree with you comrade! the government is not profitable for people to know a lot, and make good money, so thank you very much to this site that allows us to share this or that information! May 26, 2018, 01:00:30 PM
Bitcoin is a digital cryptocurrency and it is unable to control. Also most of the government thinks bitcoin is a scam and digital currencies are not stable. That is why digital currency is too risky for governments.
May 26, 2018, 12:22:01 PM
At the moment, the digital currency does not fit into any existing framework in the economy. There are at least 5 reasons why bitcoin does not work as a currency - two technological and three economic. Let's start with technological reasons. By now, the Bitcoin system has become too slow.
May 26, 2018, 12:16:02 PM
The reason is simple and it is because bitcoins are transferred via peer to peer system and evades taxes that the government under normal circumstances would have charged on some transactions. So with the use of bitcoin as a payment then it means the government would lose money.
May 26, 2018, 12:09:24 PM
The government can not control digital currency,If companies pay employees salaries in digital currency, the income taxes will not be controlled.The price of digital currency market is not stable, too much....reason
May 26, 2018, 08:44:25 AM
Yesterday I red article regarding digital currency. The article aim to discourage us in using digital currency as these currency is not recognize by our country monetary institution. What do you think is the reason why other governments are discouraging its citizen to use digital currency? Any thoughts.....
We do not knownthe real.reasons because only the government itself can answers that accurately. But mt opinion in this thing is they are decentralized which means the bitcoins are not under the government and because of that is there are some liabilities happened the government cannot do anything because that is not their problem. And i think the government do not fully trusted them no not all of the government. So lets prove to them that the bitcoins is worth to trust
May 26, 2018, 08:05:57 AM
Government would rather make you use actually physical currency that are centralized in you economic state value in your country rather than online currency that are volatile such as bitcoin.
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