Topic: Why lot of countries do not allow to use Crpto? - page 35. (Read 4286 times)
For a certain something, if a nation isn't exceptionally rich like any creating nations, they won't acknowledge digital currency since it is excessively shaky and would profit. Next, possibly their fiat itself is frail, presenting another money in their coubtry would debilitate it more. These are only a portion of the reasons I could consider on the highest point of my head.
Crypto is new and not many people can understand it. Even many of us right here talking about it everyday without knowing what blockchain is.
So basically i can tell the goverments dont understand either. We cant expect the people in the governments to allow what they dont fully understand, too risky for their nations.
So basically i can tell the goverments dont understand either. We cant expect the people in the governments to allow what they dont fully understand, too risky for their nations.
Volatility of crypto's value is a risk that every governments are concerned of. Also, they want something to tax with.
many countries can not accept the crypto currency as a legal currency and are used as a payment because the government wants to protect its people from losses and risks that can happen and we know that the crypto currency has a fluctuating price and high risk
With the negative news spread to date it is what makes many countries do not accept bitcoin because they have been affected by the FUD. Therefore they do not want to take risks as their economy will be messed up if using the currency crypto. They think it's better not to take the risk because it will have an impact for the future.
it is precisely the government that contributes to the FUD, in fact the government is familiar with bitcoin, but the threats that bitcoin gives to governments, changing the way government views, they ignore the benefits to be gained when they legalize bitcoin
The reason for lot of countries doesn't allow Crpto is to get some tax from their people.Same thing is happened in South Korea,at first South Korean government ban bitcoin in their country.In a short time period ,they announced bitcoin is legal one in South Korea and the bitcoin investors have to pay some tax to the government.
I agree, because they can't control people to get tax, that's why they don't allow to their country. This is the main reason why some other countries ban bitcoin, because every country needs tax and they afraid that in bitcoin they won't get tax because no one can control bitcoin. But there are already more countries are legalized crypto. For me the main reason is that goverments still don't know "anything" about crypto and world that we know from everyday use. It will take some years till countries will understand that this way of payments and "store" money is normal and doesn't need to be scam or used in bad ways.
They can't understand, that cryptocurrency can have "value", because you can pay by, for example, bitcoin and they don't know, that young generation in the future will pay only bitcoin.
realtalk
because they loves money
they can take profit from crypto too. they can invest in here. or make new coin for their country, but is there some country rejected bitcoin. maybe they afraid because bitcoin can make invlation for their fiat. and many reason, from security, or money laundry, and the other. but im sure that is the best choice for its country, to keep growing.
You are not wrong with your math but its about the security and laundering stuff that may come up front. Most of the countries are afraid that huge amount of money might be laundered with the help of bitcoin and thus it may cause the disturbance to economic circulation in that way. It has recently discovered that many cases of mafia has been found who are actually using the bitcoin this way only. This is the biggest and prime reason why countries are trying to avoid the unwanted use. They also want to protect the peoples funds by stealing methods, crypto fake exchangers and schemes etc.
I agree. 
For me the main reason is that goverments still don't know "anything" about crypto and world that we know from everyday use. It will take some years till countries will understand that this way of payments and "store" money is normal and doesn't need to be scam or used in bad ways.
They can't understand, that cryptocurrency can have "value", because you can pay by, for example, bitcoin and they don't know, that young generation in the future will pay only bitcoin.
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?
The reason for some nation's not allowing cryptocurrencies to be used is to protect their citizens from the risk the crypto has. Introducing a high volatile kind of investment is not what the government want to educate their people. They just don't want their people to take the risk that high.
With the negative news spread to date it is what makes many countries do not accept bitcoin because they have been affected by the FUD. Therefore they do not want to take risks as their economy will be messed up if using the currency crypto. They think it's better not to take the risk because it will have an impact for the future.
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?
This is not about the economy this is about governments realizing that if cryptocurrencies eventually become successful they will lose a great deal of control over their citizens and their own countries, imagine if bitcoin is accepted in all stores, you could buy something in a grocery store with bitcoin and the owner of the grocery store may decide to not report that income to the government and if that happens they will lose money they could have collected as taxes. What do you think about that?
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?
The government knew if their country will be negatively affected by bitcoins or not and that is the reason why other countries are not allowing their own people to invest on bitcoins or maybe the government is just corrupted.
Many governments do not allow the use of cryptos in their respective countries because of the decentralized nature of cryptos.As they are decentralized in nature so government has no control on them and the transactions made through these cryptos can't be tracked by any government or bank.So the people involved in the transactions remain unidentified.Due to this feature of anonymous transactions, many people use cryptos especially Bitcoin as a mode of payment in illegal dealings such a drug dealings,ammunition dealings etc.This is the reason why many countries are not supporting cryptos.
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?
maybe it has something to do with the market volatility. Consistent on the market value of cryptos do not exist making it risky to make or use it as an offical currency. A currency should have a stabe market price in order to give equality in the market. This is the downside of cryptos despite of being profitable. What do you think about that?
I don't think that a demand for the native currency changes its value. There is a great demand for the native currency in any place I think. Too many people are hungry, homeless and some are even sick that needs a great amount of money. Then if so with the demands why wouldn't the government just print any amount of money then to solve the problem and give all the opportunities to become rich? I think that money in the currency that we have doesn't actually hold any value it is what resources that a country have that gives it price. So it is more like a representation of what was actually being held by the government. Same with bank checks, it is just merely a note that represents the actual money given. Now why are they so afraid of cryptocurrencies? I think it is clear that any misuse affects the economy. Imagine if I owned an exchange and I earned a lot of money from your country, Now I will be going back to my country with the earnings that I have. I think it will significantly change or affect the economy especially if done in volume.
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.
Yes I agree. In my opinion, state thinks that they don't benifit in crypto. They want also that the crypto gives benifit to the government. They can't control crypto and that's the main reason. 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?
The government has fiat money, and it is unlikely the government will accept cryptocurrency, because the government is afraid the cryptocurrency will beat fiat money.
Jump to: