Topic: Why lot of countries do not allow to use Crpto? - page 24. (Read 4286 times)
They will not accept bitcoin on their own because others think or they government think that they didn't earn a lot from if because they wan't to control crypto itself by their own so it will gonna be big trouble and lost of money if they will do that.
I think other countries not yet ready to adopt the new technology carried by cryptocurrency but i believe soon they will recognized crypto and accept it. Also crypto is decentralized,maybe theyvare just preparing to regulate cryptocurrency before they are going to use it on their country. Every country has a different problems,strategy and plans for the good and development of their country.
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?
It is maybe because of the other sort of factors in which the state needs to consider before allowing such type of currency to be legally used by its people. For some reason, the government wants to have the tax paid by the crypto users for the fact that they are still into earning their income and as a part of that, this will be helpful for the economic state of their country but the problem is, all of us are anonymous in the crypto world and it is hard to determine whether such person is earning crypto or not. Also, the psychological effect on the behavior of people is taking into consideration since corruption and crimes can now be associated with using crypto because of greediness. What do you think about that?
Because they cannot control the crypto, they cannot verified the transactions and the user unlike with the usual currency that they can check the details provided that there are some permission to do it.
The government is greedy. They want to make money out everything possible. A decentralized currency means they cannot place taxing and controlling rules upon it. Which means they do not get anything in return in allowing it's citizens to use cryptocurrencies. This can hurt the government by providing less service since they cannot maintain it but the government isn't always looking for the good of it's people.
You are spot on. The governments are getting greedier by the day. Only the air we breath and the water we drink are tax free as of now. And I don't know for how long the situation will remain like that. Here in Indonesia, the taxes are crushing the middle-class people.
Governments are afraid of losing the control over financial flows in their countries. Judge for yourself: anonymity, decentralization and free emission. It sounds like a nightmare for the head of any bank or government.
Yes bitcoin is their worst nightmare and the worst part is that it is real, if governments cannot even deal with piracy over the internet, how are they planning to deal with something like bitcoin? The truth is that despite all the posturing they know very well that they cannot do it, so some countries like Japan have took the decision to adopt bitcoin instead and to benefit from it.
The value of encryption is still there, but the risk of encryption is very high, and the market value of encryption is very high, but it is unstable. Therefore, if there is a problem, encryption will easily lead to huge losses for investors.
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?
Other countries do not allow to used cryptocurrency because there are people who used it to their illegal activities such as scams and selling drugs, and they are afraid that it would replace fiat currency and banks. But there are now a lot of countries who accepts cryptocurrency especially bitcoin like America and Japan. What do you think about that?
When you say "a lot" you mean like three, right? What countries do you think are not allowing bitcoin?
Can be said that crypto feature is hated country, crypto presence of course become threat of legal currency because if used massively then people prefer to use crypto while country can not control and get benefit.
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?
Simply 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. What do you think about that?
I'm sure that the main factor that causes lot of countries do not allow to use crpto because they have wrong view and not ready to face change, whereas change and revolution is sure to happen, of course the main factor of fear is getting negative news about crypto.
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
Different country has a different perception in bitcoin, I guess that was mostly government thinking of that people may be used bitcoin to have an illegal transaction and easy to make any action against the law of the country. And the next is they think also that bitcoin may be the big competitor against the banks near in the future and they can't control it.Why US bans crypto ?
South Korea also banned
Yes, it has a big effect on the local currency, because our local currency is manipulated by our government they know how much the demand and also the value of the foreign exchange.
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?
Many countries do not allow to use cryptocurrencies because it helps people better. It makes people rich. It makes them rich faster than getting a job. Investing in bitcoin is the best way to be rich faster than you ever imagined. Using cryptocurrency is not legal in many country because it is not supported by many institution especially banks. They do not allow to withdraw and deposit through bitcoin.
In my point of view there are many reasons for not accepting crypto as legal currency. Some countries have already accepted bitcoin as their legal currency and the rests are thinking about that. The big reason for not legalizing it is because they think that it is used for illegal activities and mostly criminals use cryptos for illegal transactions and it is right. 
mostly countries like Nepal and Bangladesh and Pakistan are completely negative against cryptocurrencies
There are so many reasons why do they ban crypto currencies. In the mentioned countries, the ratio of people living below the poverty line is huge and the rest are living so called good lives with huge efforts. This is the reason the government do not accept crypto currency because the people will loose their little earnings in the uncertain market. To reduce the level of crimes in a country, Bitcoin is banned in many.
I do not think they are ready to accept the ever-expanding financial technology, they are still afraid that if they accept but can not manage it well it is feared that it will undermine the country's economy
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?
I also agree with you on this point. I have also some observations regarding this matter that we have to say that many cryptocurrencies are coming to the market whose are false and freak, so a lot of people facing huge monetary loses by investing and participating in the ICO of these false cryptos. that's why most of the government encourage their people not to be involved in this platform because of the uncertainty.
because the state does not get the income from the crypto world so most countries do not allow the use of crypto ...
and countries that do not allow the use of crypto they think that crypto will make the country's economy weak and crumble ...
and countries that do not allow the use of crypto they think that crypto will make the country's economy weak and crumble ...
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 it is in your opinion that transacting or trading using bitcoin or other crypto currencies is harmless and minimal with the risk for those who understand about blockchain technology, but the government does not know that and I also think the government has not legalized the crypto currency because they have not known until as far as you know that transacting with crypto currency no one is harmed
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