Why lot of countries do not allow to use Crpto? - page 27.

basyang

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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?

Yes, that is one of the process we could do here. You will trade your coins, tokens, or stakes then if someone buy it they will pay you bitcoin or dollars then you can convert it to your native currency. If the Government accept bitcoin in your country for sure this process will change. I think once cthe cryptocurrency become legal to your country there is so many change will make in transactions.

marcous

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Leading Crypto Sports Betting & Casino Platform

because cryptocurrency cannot replace fiat money. that's why transactions must be converted into fiat currency. because fiat has legitimate and legal laws.
but if you see some news now the government is starting to look at bitcoin for transactions. because they see the advantages of blockchain technology

Henry Sy

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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?

The way I see the nations are influencing crytocurrency to be restricted are nations who are controlled by the wrong individual or if nothing else have the wrong comprehension of what crytocurrency are or even a wrong comprehension all alone laws.

InvestICO2L

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Quote from: fredo123 on July 07, 2018, 04:40:36 AM

The anonymous nature of cryptocurrencies means that it can be used for illegal transactions such as buying and selling drugs or weaponry. According to central bank officials, Cryptocurrencies can also be used for money laundering or terrorism, There are also instances that cryptocurrencies allows hackers to request ransom payments and stay anonymous.

Maybe it’s such a suitable answer. In fact, when governments accept cryptocurrency, they perhaps get trouble in controlling, a little complicated for them to adapt with the number of people using cryptocurrency. Yep, crypto characterizes its anonymous which may lead to many social problems that harm to life. Some illegal transactions, for example, weapons or some some sorts of illegal activity . We can’t deny the benefit that digital currency brings to many of us, but alongasides we probably face with the big loss if our account are hacked. It goes without saying that, if someday cryptocurrency is accepted in most places of the world, the number of people gives concerned on it will increase and also the number of hackers and scammers will have a rise too. That maybe the reason why most governments don’t allow us to use.

Gumpfire

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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?

I think other countries do not allow to use cryptocurrency because they think it is being used in illegal activities such as scams and it will just ruined the economy of a country, which is not all true. Bitcoin and cryptocurrencies has a good benefit to a certain person who are using cryptocurrencies like giving them extra income, so they could pay all of their expenses and provide their needs.

weblouartisan

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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?

The government of a certain country know's if cryptocurrency will be a good asset for their country or not and that is the reason why government's of the country will not accept cryptocurrency immediately to circulate in their area.

Buladig

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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?

Perhaps the government that is afraid to use crypto is the government that is afraid that its state's economy is weakening because of crypto or also they think from the crypto world there is no income so most governments do not allow the use of crypto ...

CybereyesWinger

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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?

I see this situation in this way, now there are a lot of projects, and all of them are aimed at improving services, it's cool, but it seems to me that everyone has forgotten about the security of our data, but the block is well protected, but now. I read an article about quantum processors, they are already talking about the possibility of hacking, and what will happen after they become public, and the technology will improve. I began to look, and found an interesting project that is immediately ready to solve the problem of not only quantum protection, but also improve the speed of the entire system as a whole.
I hasten to remind you of revolutionary projects like Kelvin Blockchain. After all, its uniqueness lies in quantum computing! And this is an innovation! With the coming quantum technologies, the current market must experience many changes. To be more exact, many coins will leave the market, as there will simply be no demand for them, due to the same technological superiority.

bombie1

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It is some European countries that have declared their standing clearly regarding cryptocurrency acceptance or rejection. In developing countries, many of them seem indifferent or have not given deep thought to it whether to accept or not.The way the cryptocurrency industry is moving makes it impossible for nations to resist it fully.They may resist now but they are bound to accept it because the future of all money is here in cryptocurrency.

Himanshu111

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Quote from: brianross7 on July 24, 2018, 10:16:49 AM

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?

I completely agree with your opinion but there are something which is considered beside this point. the government couldn't handle all of the transaction which criminals use it for illegal activities. Crypto currencies are kept by the people around the world so this value of the currency would not be stable. the banking system will be damaged due to the free fee convert currency in the globe through crypto currencies.

Many countries are being suspicious about the use of cryptocurrencies because these countries know that using cryptocurrency can be risky since it is very volatile and there can be some cases that the hackers can hack the system and from there only they can earn a lot of cryptocurrencies.Cryotocurrencies are decentralised and taxes are also not implied on them.That is why countries do not allow as they are not under the direct control of the central banks.

ThePunisher49X

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Some nations are banning it because of not knowing what it is all about.
They are saying bitcoin uses a lot of electricity when a transaction is made.
Everybody who knows cryptocurrency can attest. Because this only happens when mining a certain algorithm is attempted to be solved and not when the actual transaction is done from the senders end.

Sier86

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Answer is easy - crypto is mostly used to wash dirty money from illegal crime activities, so countries cannot allow to use crypto is there is not any person indefication. It can cahnge if crypto is under control

Dudeperfect

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As we all know that governments are greedy for the control and crypto is something that takes away power from the centralised authorities and gives it to the users. Now, the government is certainly not willing to give away their power and control and that's the reason why the governments are willing to eliminate the usage of cryptocurrencies indirectly.

brianross7

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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?

I completely agree with your opinion but there are something which is considered beside this point. the government couldn't handle all of the transaction which criminals use it for illegal activities. Crypto currencies are kept by the people around the world so this value of the currency would not be stable. the banking system will be damaged due to the free fee convert currency in the globe through crypto currencies.

Zabzab9

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Its about the perception of every government on every country. They are afraid of technological manipulation since internet is a widest and deepest field of information about anything.

Kambal2000

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Quote from: newuser20 on July 23, 2018, 04:10:37 PM

Because this moment is not completely resolved and we can not be confident in the Crypto currency due to high volatility Sad

It may be one of the reason why they don't want crypto due to the dumping and pumping of the price but aside from that they don't want change and they are threatened with bitcoin as some of their investors instead in investing in stocks are now investing in crypto instead of them, so it creates threat to them.

newuser20

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Because this moment is not completely resolved and we can not be confident in the Crypto currency due to high volatility Sad

tylerderden

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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?

In the above example the buyer and the seller are both legit and they are honest but what would happen in case of a money launderer or a drug dealer dealing with a person with cash he is selling ill gotten goods and money and that's what the government don't like and that's why they are banning crypto worldwide. But their approach is not correct as they should regulate crypto and not ban it as its also a boon to mankind.

brolekset

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It is not profitable for their economies.Now imagine every country already has its own established currency that brings Pribyl state.And not small!And here someone wants to introduce a new, unknown currency.Which they can't even tax.It's simple.They do not benefit

andrei56

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Quote from: Dimon8 on July 20, 2018, 04:28:13 AM

It is obvious that the governments of many countries of the world do not allow the use of cryptography afterwards so that they can not control the flow of money. The flow of money that passes through crypto does not pass through banks that are controlled by the government. Demand and use of the national currency also falls.

And that is not all, governments not only lose a great deal of control over the currency and over the people they also lose the ability to charge you tax or to confiscate your money and that is something they do not like at all, and that is why they do not want to adopt cryptocurrencies but the truth is that they may not have too much of a choice.

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