Why lot of countries do not allow to use Crpto? - page 28.

Btcschool

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Quote from: udana123 on July 02, 2018, 12:28:15 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?

Those countries that do not allow crypt in their countries are experiencing blockchain technology. This is upcoming technology and hard to understand. One of my friends is getting his PhD degree in blockchain technology. When a country knows this technology they allow their people to trade and invest in cryptocurrency, but before they ban it likely.

Gila uang

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Quote from: stimliall on July 16, 2018, 06:31:28 PM

Some countries believe that cryptocurrencies and bitcoins pose a threat to their economy! Moreover, the supervision of cryptocurrency is still not perfect, and the supervision of cryptocurrencies in all countries of the world is at the stage of exploration!
There are still many countries and regions that do not ban or recognize cryptocurrencies!
With the development of blockchain technology, many countries will support cryptocurrencies in the future!

Recently discovered that many mafia cases have been found that actually use bitcoin in this way only. This is the biggest and major reason why countries are trying to avoid unwanted use. They also want to protect public funds by stealing methods, fake exchange crypto and schemes etc.
You are not wrong with your math but about the security and laundering things that may come up front. Most countries fear that large sums of money may be washed with the help of bitcoin and thus may cause disruption to the economic circulation in that way.

engrlodi

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The economy of this country can affect, that's why they ban cryptocurrencies in there country. The economy of the country will lose control and I think there will be a bad output if they uses cryptocurrencies. There is no taxes when we uses bitcoin, for sure if the bitcoin will have tax then the government will approved of using of bitcoin.

coinplus

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Quote from: trako on July 02, 2018, 12:35:58 PM

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.

The fact that they are simply going to be losing that control which they are so much used to is enough to scare them into looking for ways to block the idea of cryptocurrency coming into play in the country, but this is not like they have any choice since a lot of it cannot be controlled anyway and they will simply end up missing out in the long run which I believe a lot of countries like this will end up coming around.

Governments have been used to centralization, and seeing the opposite want to take the day, that is something we all know it would be hard for them to accept at once.

newcollegestar

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Quote from: dupee419 on July 17, 2018, 02:29:14 AM

Its because that since BTC is decentralized which means the Government does not have control to it, it means that people can take advantage to it, some countries are aware about its power but does not dare to comply with it because they know that it is decentralized, especially Bitcoin.

I am always amazed with this comment. Why we are thinking it from other view. This isn’t about control the bitcoin. Bitcoin is decentralized and everyone knows it. We know this can’t be made or monitored or modified according to needs, this is controlling. But governments are not controlling this bitcoin, they are only making some rules according to which things can work fine.

Rajamuda

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on my mind that for those who still do not allow.. the point is it's an excessive worrying about the crypto's characteristics that could have a negative impact on the financial system of government and probably still largely prohibited in relation to the regulation of the financial system of government or laws which's still possible next time it would allow it will be accepted and supported. Still thinking also.. that it's still in the process of examination to be able to accept it.

weeklyeth

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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

Babyhouse

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A lot of counries do not allow cryptocurrency because digital currencies like Bitcoin operates with a decentralized system that is not regulated by central banks. This could create a great challenge for the financial system since digital currencies will not have a stable exchange rate that is controlled by the central bank

Marlo0619

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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.

Starving_Marvin

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Probably one of the reasons can be that they are just not understanding the process of accepting cryptocurrencies, and they are not familiar with the positive aspects that they have, imho.

3la9l_kolbaCa

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Quote from: Ailmand on July 20, 2018, 03:29:41 PM

Quote from: udana123 on July 02, 2018, 12:28:15 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?

From where I look at it, I think that many countries do that because they just want to safeguard their people and citizens to the horrors of investing in the cryptocurrency market. Although it has brought lots of people profits beyond our expectations, I think that it has its fair share of difficulties and lows that could make any investor doubt its legitimacy as a market much more a government. So, as a contingency, many governments just altogether regular or control cryptocurrency-related activities just to ensure that their people won't even try to do business in it, and in turn, protect them from the many negative things that could happen.

Bitcoin is decentralized and other countries are accustomed to a system that has central command, because they find it safer and more secure. Furthermore, I believe that they lack understanding and proper education of how beneficial and profitable bitcoin is. Undeniably, bitcoin is the king of all cryptocurrencies, yet it's highly-volatile. They may be afraid to engage since its economy is still young and developing.

rainezerr401

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Quote from: udana123 on July 02, 2018, 12:28:15 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?

Government already knew if cryptocurrency will be good for their country or not and that is the reason why not every government does not want their own people to invest on bitcoins

acheampong64

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Quote from: Rhegar011 on July 20, 2018, 03:56:59 PM

1. They don't understand Crypto
2. They don't want to take chances with something that is so new

That's it! Simply that! They don't understand the technology and what they want to do is that, they'll ban and study. After that they'll reconsider their stands. China did same and I read an article that said they want to bring regulations next year. India also said it's reconsidering the RBI's stands.

Rhegar011

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1. They don't understand Crypto
2. They don't want to take chances with something that is so new
3. They are scared of decentralization

Umuoji

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I think that the reason whynlotsnof countries does not allow the use of crypto for its citizens is because the crypto space is so unpredictable and they ate trying to protect the interest of there citizens

Ailmand

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Quote from: udana123 on July 02, 2018, 12:28:15 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?

From where I look at it, I think that many countries do that because they just want to safeguard their people and citizens to the horrors of investing in the cryptocurrency market. Although it has brought lots of people profits beyond our expectations, I think that it has its fair share of difficulties and lows that could make any investor doubt its legitimacy as a market much more a government. So, as a contingency, many governments just altogether regular or control cryptocurrency-related activities just to ensure that their people won't even try to do business in it, and in turn, protect them from the many negative things that could happen.

weblaraveluser

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Quote from: udana123 on July 02, 2018, 12:28:15 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?

There are several countries that will not be able to handle the grow of cryptocurrency because their own economy is not doing good due to some specific reasons and that's why the government are not allowing their own country to interact with cryptocurrency.

BertoloyBTC

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The is the truth there are countries that does not allow to use crypto for the government that if this crypto is legit to be use in each country ,it will be properly monitored the crypto transactions and they will regulate it according to the laws of the state ,so that they will not also to be blame by the citizens who are using it in their country.

kangbasir

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government authorities around the world think bitcoin attracts black markets that can illegal illegal bitcoin transactions because it is not a legitimate means of payment for the common currency in general, there are a number of currencies, but not officially supported by the government.

Gdra467

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It's quite difficult for governments of countries to just accept any technological breakthrough, especially when this technology is capable of liberating people. Bitcoin is one of such technologies that has the power to disperse monetary power to the ordinary people so you just can't expect governments to accept it easily. No government can ban strictly ban bitcoin anyway.

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