Topic: Why lot of countries do not allow to use Crpto? - page 12. (Read 4308 times)
Decentralized features of Cryptos posses a difficult challenge to those countries who felt that their monetary policies could be hampered by Cryptos adoptions especially local currency could be hard hit if Cryptos are fully adopted but I wonder how those countries that fully adopted Cryptos have manage their economies successfully.
Bitcoin and other Cryptocurrency are new things in our lives. New things will always cause pros and cons, as well as cryptocurrency.
People will still study the advantages and disadvantages of Cryptocurrency. That's what many countries/governments are currently doing.
On the other hand, the general public will also learn about the advantages and disadvantages. As far as 9 years Cryptocurrency growth has exceeded estimates from many people, it is reflected in the fantastic price of bitcoin. Later if the wider community has understood and accepted the government will inevitably accept it too.
People will still study the advantages and disadvantages of Cryptocurrency. That's what many countries/governments are currently doing.
On the other hand, the general public will also learn about the advantages and disadvantages. As far as 9 years Cryptocurrency growth has exceeded estimates from many people, it is reflected in the fantastic price of bitcoin. Later if the wider community has understood and accepted the government will inevitably accept it too.
Most governments have not figured out how they can effectively monitor them and crypto is growing at an alarming rate, so they are placing a hold on its further growth, eventually they will lift such bans
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
I really don't know why. But, based on my understandings, the government doesn't allow the cryptocurrency because they might not be no tax anymore in the state that they're leading too. Also, they might not have any idea what is the value and capacity of crypto. What do you think about that?
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
What do you think about that?
Yes I agree, the exchange of the international currency like dollar has more value in some developing countries which helps a country economy develop even though taxation is not implemented.
I said because Trump can you understand? After Trump took office, he implemented trade protectionism, which led to the loss of money in other economies, and all countries rejected the cryptocurrency. But this is all open for the future.
I do not think Trump is the main factor, the Crypto market is now influenced by so many countries and there are so many underground forces that are hard to spot.
Lots of countries not accept crypto cause their government thinks that crypto is only use for illegal activities online and with lack of knowledge on this technology they don't know that it could help their economy also the peoples that don't have permanent job with having knowledge on crypto they can really earn money.
state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.
It is not the country but the government. People or the citizens tends to love using crypto butthe government do not loke it because they can not control it and that is what they do not want. They wantto be in control that is why they do not like it. But then it is not yhe country but the government. Not the people but those who are in controlled.
state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.
It is not the country but the government. People or the citizens tends to love using crypto butthe government do not loke it because they can not control it and that is what they do not want. They wantto be in control that is why they do not like it. But then it is not yhe country but the government. Not the people but those who are in controlled.
I said because Trump can you understand? After Trump took office, he implemented trade protectionism, which led to the loss of money in other economies, and all countries rejected the cryptocurrency. But this is all open for the future.
Crypto already exist before trump took office. Most country in the world afraid on cryptocurrency because bitcoin can not controlled. The data store spread around the world. I dont believe bitcoin will make economic worst but i am believe bitcoin will make economic more right
Bitcoin and Crypto, in general, are still anonymous and ultimately can be used for fraud. The advantage of the Blockchain is still the disadvantage. And again, the Volatility of crypto is still high. Governments wouldn't want its citizens to lose all their funds one day just because of an unfavourable news. With the way Crypto is going now, people will need to see it for what it really is and not a get rich scheme. This is will reduce the volatility and ultimately will be adopted.
I said because Trump can you understand? After Trump took office, he implemented trade protectionism, which led to the loss of money in other economies, and all countries rejected the cryptocurrency. But this is all open for the future.
Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
What do you think about that?
Countries do not allow crypto currency because they think that it is their enemy. Government needs taxes and crypto currency don't have taxes. If they accept bitcoin, where did they get fund for their projects, activities, and other things that they need to do for their country. We are hoping that someday many countries will accept bitcoin.
there are many reasons for the state to reject the presence of crypto in my opinion. because of the high crypto volatility they fear backfires on their economy, they are also afraid that crypto will become a money laundering tool for crime purposes and many more their complaints 
state wants to get tax. the input and output of the money can not be controlled. also a serious competitor for bankers. also a good way to make money. countries are opposed to it. a money they can not control is troubling governments.
maybe on the one hand, that's why there are several reasons why many countries refuse the use of crypto and bitcoin currencies, there is one more thing that might make the government reject crypto currencies is that they are not ready to apply the technology used by crypto currencies 
As for the countries that have banned circulation and mining of the crypto currency, here it is rather a formal hitting of the crypto currency as a financial asset under the restrictions of investment legislation or anti-money laundering legislation. Perhaps these countries will later return to the issue of regulating crypto-currency, when more development of the country will develop adequate legislation and there will be positive examples of regulation and taxation.
The government will not allow use of Cryptocurrency unless they have a full knowledge of it, how to harness its full potential and more importantly, how to control it. Blockchain technology keeps changing at a fast pace that even the government is having a hard time of keeping up to it. It will probably take another 1 to 5 years before any country will officially accept the use of Cryptocurrency.
because they see it as a threat already considering the innovative things it can do to a country after a long while. A lot of countries has already banned bitcoin to avoid any possible casualties in their government and in their economy though there's no such cases yet. Maybe if they will only give crypto a chance, greater things might happen,i hope that in future cryp will use large like monney!
There are few countries that have banned the usage of bitcoin. The list is actually very short and those countries are actually very under developed and filled with corruptions. I guess you got misunderstood the sentence "not a legal currency" and took it for being banned. Most countries do not recognize bitcoin as a legal tender or currency. This does not mean that they called out bitcoin as illegal and banned its usage. You can still use it as you like.
Most countries prohibit Bitcoin they didn't forbid us to invest with Bitcoin, they just forbid we use Bitcoin as currency when the transaction.
Some country's ban cryptocurrency to avoid tax evaders to become more rampant. It is quite easy to convert fiat to bitcoin. And once fiat has been converted to bitcoin, the government has no power over the individual's money anymore.
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