Why lot of countries do not allow to use Crpto? - page 41.

pitiflin

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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?

Less than 1% of the world countries have banned crypto. A lot of countries came up with a solution to the tax problem, they have taxes on capital gains rather than having taxes on crypto itself. Countries may not like crypto, because they don't know much about it. They are blindfolded because of the fucking ICOs that have done nothing but scam. You can't blame the governments here, they are trying to protect their citizens from getting scammed.

margert

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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?

You can see that although bitcoin is very convenient and has great convenience for human life, you can pay faster with absolute security and anonymity, you can also move and do not take the burden. It can be seen that bitcoin is coin as digital gold.

But you can see that bitcoins are very little recognized and legitimate traffic, as this is a new area and there are many unfinished vulnerabilities so the countries are still very cautious. about bitcoin.

TravelMug

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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?

You maybe right with your assumptions but I don't think that countries really know that, or if they really aware they will just turn their back on it because they really think that crypto can really harm their economy. But the funny thing is, governments really appreciated Blockckhain, the same technology was powered Bitcoin and other coins as well.

As for tax, well some countries are already imposing it so we still have to wait will be the effect. But as far as regulations, its really putting a lot of selling pressure resulting on the price of the whole crypto going down since the start of 2017.

Driggers95

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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?

Perhaps these countries fear that if they accept the crypto, there will be many problems for their country. They think that crypto will help corruption and crime. That's my opinion

Argoo

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When the Chinese government last September introduced certain prohibitions and restrictions on the crypto currency, it directly indicated that the crypto currency could damage the economy of the state, since it allows uncontrolled withdrawal of funds from the country. That is, states are afraid of uncontrolled circulation of crypto-currency in their territory. Also, some states believe that investing in crypto currency, especially bitcoin, is very risky and warns its citizens against investing in bitcoin. Legalization of the crypto currency is also largely hampered by its greater volatility. Therefore, the issue of legalization of the crypto currency by different states is quite complicated, this process will continue to be long and contradictory.

Vness10

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It because there's so many circumstances of reason why some countries not allowed the crypto. We know it's risky investment and its decentralized so some country need to protect their people. Yes it's not harmful but like a said there so many reason maybe they want to control it or and they want a put a taxes but they not can't do that as long it's not legalize in their country.

bowals

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on the issue of tax, most of the crypto transactions occur in major exchanges, meaning taxing them shouldnt be much of an issue. all thats needed is to demand the exchanges to pay/remit tax or risk closure

richardsNY

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Quote from: RamonBTC on July 02, 2018, 02:24:48 PM

Most corrupt country wanted to stop blockchain technology for their own self serving interest.

All countries are actually in favor of the blockchain as technology. They dislike our cryptos and that's really it. Governments aren't that stupid to completely disregard the blockchain itself. I'm probably very close when I say that they will end up using centralized blockchains with tokens tied to fiat to gain more financial control over you than ever before. The blockchain is great if it works for you, but a total bitch if ill minded governments or corporations will use it against you. If you think PayPal and MasterCard are monsters right now, then wait for them to fully adopt blockchain....

Markettoken

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Because they want bitcoin to be taxed and can benefit the government

Carpenter194

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Because they don't want is will have effect to their economics, IMO.

TianaStam

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What do you mean under 'a lot of'? Google search tells me that there are only less than 10 countries who banned crypto and in all number of countries of the world its actually not so much. In explanation why one or another country banned bitcoin its written that its out of their economical laws. So, they simply do not want to change their laws cause of bitcoin, changing laws is long and expansive process as I know.

Harlot

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The way I see it is the countries who are making crytocurrency be prohibited are countries who are run by the wrong person or at least have the wrong understanding of what cryptocurrencies are or even a wrong understanding on their own laws. The most common news I see from countries that prohibit cryptocurrencies are is that they basically are not their fiat currency that is why it is not allowed to be transacted with other than that is they always related it to being the money for criminals which is simply a dumb assumption to make now. If only the person with power is smart about this topic or even at least open to change there will be more countries that will make cryptocurrencies accessible to their citizens.

n0ne

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Those countries avoiding bitcoin doesn't have the clear understanding about it. They just come up with a solution bitcoin is harm and we need to stop its usage. In selected countries to support bank governments have regulated its usage. This will change and surely people will begin to analyze better and adopt it even when governments were with plans of not allowing.

PayneCharity

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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?

In my country, the government forbids people to use bitcoin as a form of payment for shopping. But they do not forbid people to invest in bitcoins and crypto

ashkanm

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The reason for lot of countries doesn't allow Crpto is to get some tax from their people.but don't worry as it is just for temporary for sure that they will also finally adopt this just like other countries who had change their mind and adopt crypto already.

w33man

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Same as what you have said, a lot of people gets sacmmed in cryptocurrency and some are using cryptocurrency to scam people. So, a lot of people are losing money because of the risk. That is what other governments are afraid of. Since government cannot fully govern, regulate or tax it, they result on fully banning it.

RamonBTC

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They don’t totally hated or officially banning it, they’re against to anything better than them. More crypto investors less tax collections or more bitcoin less bank transaction.

They serve the financial groups of each country, their political sponsors and most of they’re investments on stock exchange.

Most corrupt country wanted to stop blockchain technology for their own self serving interest.

oninz26

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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?

The decentralization concept had made some countries to unaccept bitcoins existence in their countries because they were afraid not to enjoy its benefits,they can put taxes in it,although they can make any regulations but they can't fully control the blockchain technology.

tambok

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They don't allow to use crypto since they kept saying that it is a big ponzhi scheme which we also doubt at first, but don't worry as it is just for temporary for sure that they will also finally adopt this just like other countries who had change their mind and adopt crypto already.

mrcash02

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Indeed it's positive for the citizens of a country who want to increase their income smartly and independently, but it's not good for a select group who usually "control" the country and people's money when they put it on the banks and let it generating pennies as income. When a more profitable opportunity appears (trading, Crypto-Currency), it means there will be less money on these banks, so there will be less money for these powerful guys use to make profit for themselves, while giving you pennies. These powerful guys are being removed from their "confort zone" and it makes them angry... That is a good reason why the use of Bitcoin is discouraged and in some cases banned.

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