Why lot of countries do not allow to use Crpto? - page 19.

coinfinger

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Quote from: Dr.Osh on July 25, 2018, 09:11:21 AM

Quote from: ?? on ??

Quote from: newinbtc on July 02, 2018, 01:38:40 PM

the value of that currency already decreasing due to lot of international trading , after crypto come , people investing that country in bitcoin and save that money thus their funds decreasing . In India they banning crypto for reason - Decrease of rupee price , lots of scam happens , People us bitcoin as illegal trading . if people use bitcoins , its direct loss of government as they are not getting any tax on bitcoin transfers

Why US bans crypto ?
South Korea also banned

I think it is not a big deal because when they will see other countries experience with cryptocurrencies and when they will see that they are having a positive conclusions they can always change their mind.

it's natural that many countries forbid using bitcoin, or other crypto as a means of payment, because they already have their own currency. well, the system will be disrupted when there are other currencies in a country. well, but some countries also support the use of crypto in their country.

There is nothing like scary for a government to fear. It is just that there are things that are not in the interest of a government. There can be many reasons why different countries ban crypto currencies. In my country, it is not accepted so far because it is considered to be a possible trigger to intensify illegal activities. Besides, due to risk in crypto, government has issued orders not to invest in crypto.

imapd

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cave canem!

Quote from: udana123 on July 02, 2018, 01:28:15 PM

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?

You need to wait for a little more time more, bitcoin is known for only 3 years right now and it is too fast too something to destroy all the things that we were familiar with for 300 years, economy is not so fast changing as bitcoin is.

dlouulmusthofa

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the country that does not allow the use of crypto is a country that is afraid of the crypto currency will losing its domestic currency, if the state allows the use of crypto for transactions, I am sure more citizens use it, so the use of domestic currency is reduced and causes its value to decrease

Sled

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Quote from: roxbit on July 30, 2018, 05:15:51 AM

Quote from: hotBriX001 on July 29, 2018, 11:32:40 PM

Quote from: alizalela7 on July 29, 2018, 10:01:21 PM

Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

Agree. In addition why some countries do not allow to use Crypto is because they can't really controlled decentralized currency due to transaction will be made by peer to peer that does not need third parties presence. And also some countries not yet fully recognized bitcoin existence and its benefits that would helps economic growth in the long run.

Other countries concern specially the government first thing they do is form a currency. They like to control the currency. They control it through the central bank. That is why they don’t allow cryptocurrency as a legal tender because they cannot do tracking of your transactions not like with your bank accounts where there is a third party involved.

You have a point and since they would like to control a currency then they wanted to control bitcoin in their country and if they cannot control it because of the decentralization then they will just do not allow cryptocurrency in their country and it will be just be forbidden in their country unless they changed their mind or they see that bitcoin is being implemented in big countries.

roxbit

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Quote from: hotBriX001 on July 29, 2018, 11:32:40 PM

Quote from: alizalela7 on July 29, 2018, 10:01:21 PM

Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

Agree. In addition why some countries do not allow to use Crypto is because they can't really controlled decentralized currency due to transaction will be made by peer to peer that does not need third parties presence. And also some countries not yet fully recognized bitcoin existence and its benefits that would helps economic growth in the long run.

Other countries concern specially the government first thing they do is form a currency. They like to control the currency. They control it through the central bank. That is why they don’t allow cryptocurrency as a legal tender because they cannot do tracking of your transactions not like with your bank accounts where there is a third party involved.

odri777

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The state is just interested in receiving taxes and profits, and in the case of the crypt it can not always control it!

lamroinhau09

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I think crypto money cannot keep up with the need to trade, be cluttered, and fluctuate in value.

CharlieKoala

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The crypto has so much benefit to the people that if their countries allow using crypto, their bank in that countries will go bankrupt.

suryana

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Trphy.io

Quote from: nightways on July 30, 2018, 01:59:30 AM

Quote from: weeklyeth on July 23, 2018, 05:59:18 AM

many countries believe cryptocurrencies will increase money laundering mainly in India the arguments are going in the court hopefully they accept crypto in the coming future

The decentralized nature of the crypto currencies is something which is a serious threat to all the government officials as this will not let them control these digital currencies just like the way they are controlling normal regular currencies. The government of different countries is still looking for the right time to take any such step as they need to be sure that this will help in growth of their economy.

It's hard to make them believe in Bitcoin, the Government still fear the Crypto
will make countries slumped due to be much happening cases of money laundering.

nightways

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Quote from: weeklyeth on July 23, 2018, 05:59:18 AM

many countries believe cryptocurrencies will increase money laundering mainly in India the arguments are going in the court hopefully they accept crypto in the coming future

The decentralized nature of the crypto currencies is something which is a serious threat to all the government officials as this will not let them control these digital currencies just like the way they are controlling normal regular currencies. The government of different countries is still looking for the right time to take any such step as they need to be sure that this will help in growth of their economy.

Daday23

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Because they cant control bitcoin once they legalized in their country.

kumala_abi

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GoMeat - Digitalizing Meat Stores - ICO

Quote from: joelou on July 30, 2018, 12:26:06 AM

Well in my opinion i think because of Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.that's why some of countries do not allow to use crypto.

if cryptocurrency reduce unemployment people , why goverment shoudl ban this world.they should to legalize it in order there will more investor join and they can attract taxes from it.

joelou

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Well in my opinion i think because of Cryptocurrency has a lot of benefits that it reduces unemployed people in a country that gives them a good source of income.that's why some of countries do not allow to use crypto.

hotBriX001

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The revolutionary trading ecosystem

Quote from: alizalela7 on July 29, 2018, 10:01:21 PM

Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

Agree. In addition why some countries do not allow to use Crypto is because they can't really controlled decentralized currency due to transaction will be made by peer to peer that does not need third parties presence. And also some countries not yet fully recognized bitcoin existence and its benefits that would helps economic growth in the long run.

naily

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Quote from: cruz06 on July 25, 2018, 08:52:22 PM

Because there are lot of countries the banned cryptocurrencies like bitcoin. Cryptocurrencies are illegal for them because it has no taxes but makes people lives better. They can make an income by just investing and make a huge money than a job.

I think instead of banning but many countries do not know the benefits or uses of the crypto currency so they are the government has not legalized this crypto currency system

MaryClark12

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Because they have not yet seen the potential for crypto. It is these currencies that can bring to countries that have not yet developed or are developing an economic advantage that can outstrip major economies.

Saveplus

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Some countries cannot accept bitcoin,because they think it was illegal for them.They are afraid to change their currency and government did not allow it,they want to imposed tax on bitcoin but its a long due process before it was granted in their country.They did not know how bitcoin was special in our financial needs.

alizalela7

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Many countries do not allow the use of bitcoin because they do not yet recognize the value of bitcoin and they do not dare to go hungry with the management of bitcoin nor know the bitcoin will bring them value.

cloud9ners

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I think its illegal in some of countries like China because it depends on their government.

Neraj Evad

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There are lot of countries that do not allow the used of cryptos , because they are not legit in the country and the government has not decided to accept and legalized the use of cryptos in the countries, so whatever happen to your transactions with cryptos , the government will not answer abou what had happen to you.

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