Topic: Why lot of countries do not allow to use Crpto? - page 23. (Read 4286 times)
The decentralized architecture of financial relations offered by Blockbane technology is what really causes aggression and panic in all countries of the world. For them, this is a real disaster, as this technology allows you to create an unmanaged database in which all information about everything can be stored. In addition, this data can be viewed at any time by anyone and can not be deleted or changed in any way.
I think the reasons for these countries prohibit the use of digital currencies such as crypto or bitcoin because they are afraid of high-risk natural bubbles and bitcoin is used for illegal activity or still anymore because there are constraints between financial companies and the main reason is the fear of these countries will be volatility and digital currency uncertainty.
Because the government is greedy. They don't want decentralized currency. It's a lot harder to tax it. And there are major security risks at the moment with crypto currencies. It's easier to just ban it than adapt to it.
The situation of crypto currency been banned in some countries is 40-60% because some cryptocurrency ban are not always the act of government been greedy and I'm saying this because I have seen a couple of government that banned crypto currency in their countries base on the last year and this year crypto currency ICO scam. 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?
Partly, the problem is that we are not having a successful experience from among other countries, which we can align with. So well over people's country will have a year of successful applying bitcoins I think for you, it would be much easier to accept it. What do you think about that?
yes I am really sorry let alone in my country instead of bitcoin legalization, the reason the country does not want to happen inflation in the future but for me bitcoin is a money alternative to prevent inflation in the next few years
I think there are two main things why many governments would not want Bitcoin for their country, their people. First is because it is something that they cannot control. For them, this is a serious matter that they will not be able to control the cash flow, cannot monitor and manipulate it. Second is that, Bitcoin or crypto currency is not taxed, so basically, they will not getting tax from all crypto transactions. So governments will not allow a gold mine as big as cryptocurrency to go on be successful without them getting any benefit out of it.
To put it more simply, there is a mismatch between market value and value. Many hedge funds are betting against eth, and the price of eth should not be normal until the value of encryption is actually revealed.
If some countries allow the cryptocurrencies to be legal, they will have to agree not to tax or manage it. But allowing them to be synonymous with the value of the currency goes down.
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?
Government think cryptocurrency can used for illegal activity. Many government afraid bitcoin or cryptocurrency used for criminal activity because transaction using crypto hard to trace. In many country, government allowing cryptocurrency trade because government believe crypto trading is just for investment.
Many government right now considering to regulate cryptocurrency trading because government must be want to collect taxes from that trade.
Countries banned crypto because they fear that, this might cause them trouble not just in economy but also it might be used on money laundering, another reason is the price of cryptocurrencies is unstable.
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?
does not allow but the government or the state has no rules governing the bitcoin that protects from users crypto currency when making transactions
The concepts of cryptocurrency are beyond the knowledge of p2p systems. Basically, there are other influential economic parameters that must be considered before nations can even consider or become dependent on cryptocurrencies.
I think that's probably because cryptocurrency currencies are so unstable and fluctuating so cryptocurrency has a very high risk that very few accept cryptocurrency.
Because the government is greedy. They don't want decentralized currency. It's a lot harder to tax it. And there are major security risks at the moment with crypto currencies. It's easier to just ban it than adapt to it.
This is been the issue that there are lots of countries that does not allow crypto and bitcoin in their state , because they are furious about bitcoin for they wsnt to regulate cryptos whenever they will allow or accept cryptos in their country, so the government and cryptos, I think will come to rerms and conditions is cryptos will be allow to be use.
because crypto is illegal. the government also has not provided any regulation related to crypto. crypto prices are also unstable, thus increasing the risk of loss.
Cryptocurrency is not illegal, it is not legal or illegal. It is just in neutral and it depends on the government of a country if they are going to put a category for the cryptocurrency as a illegal or legal and that is their work because they can make an order to prove if bitcoin is illegal or legal. All we can do is to rely on their order or decision.
because crypto is illegal. the government also has not provided any regulation related to crypto. crypto prices are also unstable, thus increasing the risk of loss.
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
Without a doubt, it bigly influences the close-by money, in light of the way that our neighborhood cash is controlled by our organization they know how much the demand and moreover the estimation of the remote exchange.Different country has a substitute insight in bitcoin, I assume that was generally government pondering that people may be used bitcoin to have an unlawful trade and easy to make any action illicit of the country. Additionally, the accompanying is they think in like manner that bitcoin may be the huge contender against the banks close later on and they can't control it. Why US bans crypto ?
South Korea also banned
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?
In my own personal opinion, people do not allow cryptocurrency because they think it would ruined or destroy the economy of their country and they are afraid that cryptocurrency could replace fiat currency and banking. But there are still countries who already accepts cryptocurrency in their country and there are no any bad effects to the economy of what so ever.What do you think about that?
Yes, some it will be personal matters of the government or they see no control over the digital currency, because of its volatility and fast changing values.
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?
You are right, OP. It's just that the government's way of thinking is so low that they can not get there. If the government's way of thinking can achieve it, many extraordinary things from cryptocurrency, in addition to benefiting its currency, the government can also increase the level of the economy of its citizens to be even better.
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