Topic: Why Goverment is not recommending to use digital currency such a bitcoin? - page 7. (Read 2242 times)
May 18, 2018, 05:31:21 PM
Coz they re scared of it
May 18, 2018, 05:30:47 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.....
The only reason why they don't want no 4th coin or they regulate bitcoin is that because they can never control it and they don't even know who created this one then how can they control it. So government keep doing something to end bitcoin and to discourage users.
May 18, 2018, 05:29:41 PM
The main reason probably is the volatility in the market. There will be no equity since market value stability is a must when it comes on a currency in the market. Governnents are still not in favor on making cryptos legal due to this problem because of the risk which users as well as the market might encounter.Also, most of the cryptos are decentralized anf tax is not possible.
That is one of the reasons, but the main reason I think is that they cannot control cryptocurrencies because it is decentralized. Being decentralized means it cannot be controlled by an organization, to create some form of control the organization must impose it on all users of the technology. Which is impossible unless the whole world creates the same laws to regulate bitcoins or other decentralized cryptocurrencies.
May 18, 2018, 05:21:53 PM
The main reason probably is the volatility in the market. There will be no equity since market value stability is a must when it comes on a currency in the market. Governnents are still not in favor on making cryptos legal due to this problem because of the risk which users as well as the market might encounter.Also, most of the cryptos are decentralized anf tax is not possible.
May 18, 2018, 05:19:48 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.....
All governments is like that around the world because they know how risky it in a to invest in bitcoin and they want to protect their people to some scammer who using bitcoin to scam other people. And I think the reason to because they can't manipulate the bitcoin that's why they warn people to use it. May 18, 2018, 05:15:42 PM
One reason may be that no bitcoin can control so they do not support bitcoins for use and anonymous, untraceable transactions. Government wants something they can control, bitcoin it will be very difficult to control.
May 18, 2018, 05:15:07 PM
Mot governments are against Digital currency because they find it hard o trace and tax them, Otherwise, some claim that the high risk involved and the high volatility of the digital market is one to avoid, thus encouraging their people to stay away
May 18, 2018, 04:54:35 PM
Because many governments can't control bitcoin because they have no ability to control bitcoin over their centralised currency. Banking systems can't control bitcoin.
May 18, 2018, 03:31:00 PM
because they are afraid of competition because it is something that they can not control and tax and determine its value (which is given by the market) and perhaps in some way anonymous (monero)
May 18, 2018, 10:41:25 AM
I think government are not recommended bitcoin to use as digital currency because it may affect the flow of money if all transactions are going to be only online. But I am also thinking if the government are only thinking about the money flow everyday or they are worried that they are not collect taxes to every online bitcoin transactions that we do. They are afraid that we do not have any income for their own sake not for the government projects that they need to do. And I think there are many employee are going to be jobless because they dont need to their job because all the transactions are already online.
May 18, 2018, 10:24:42 AM
it seems that there are many factors that make bitcoin not favored by government or bank, I see bitcoin has a very limited total supply, all can use bitcoin and bitcoin transactions are very anonymous so most likely the government is very afraid if bitcoin be used as capital money for terrorists between countries.
May 18, 2018, 09:57:07 AM
Although the ban exists digital money is indeed a tantalizing investment but high risk and is outside official government regulations or authorities.
May 18, 2018, 09:52:27 AM
I think, every year the attitude will be change, with some countries for the better, others will on the contrary seek to prohibitions. As now, many people begin to understand the need for changes in relation to a rapidly developing market.
May 18, 2018, 09:49:02 AM
possibly because the government can not benefit from the bitcoin circulation that makes the government give such statements to make a lot of people to leave bitcoin. but it will not be the government will not be able to affect bitcoin.
May 18, 2018, 03:24:57 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.....
Why Goverment is not recommending to use digital currency such a bitcoin? Because the government cannot controll it over. The government doubts the digital currency will be used illegal activities.
May 18, 2018, 01:22:20 AM
Some government are not recommending to use digital currency like bitcoin because there are a lot of scams and fraud that were made throughout with this. We all know that digital currency transactions are made thru online or by the use of internet which we can say that has a lot of hackers. With this scenario the government is not recommending this to prevent this kind of scam and fraud. This is one of their way to minimize the crime especially with the cyber crime which now a days are quite challenging to apprehend.
May 17, 2018, 11:44:16 PM
Governments see bitcoin as a threat because it contradicts their ability to collect taxes on transactions, and law enforcements' ability to fight crime transacted in a said cryptocurrency.
May 17, 2018, 06:27:01 PM
I think it is very difficult to use payments using digital money because in my country still lack of knowledge about technology now so it is very difficult to confirm to them
the government also does not help digital money applications and digital money there is no law in our country so it is very difficult to do it, but one day will definitely apply in my country because it is very easy to use for anything
the government also does not help digital money applications and digital money there is no law in our country so it is very difficult to do it, but one day will definitely apply in my country because it is very easy to use for anything
May 17, 2018, 05:42:13 PM
It is very clear that the government wields so much power over the currencies but will that be possible with bitcoin? You already know the answer. They can't control it, the best thing for them is to be against it
May 17, 2018, 05:41:03 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.....
I think the governments only warns their people about the risk they may face in entering digital currency. Like what our country did. They always telling us to always take care. Jump to: