Why should other countries did not accept Bitcoins? - page 3.

Wawa2013

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Quote from: Ryker1 on September 01, 2021, 05:45:05 PM

Quote from: tazmantasik on September 01, 2021, 02:31:20 PM

Even in my country the government says that bitcoin is not a legal payment. Even though they have never completely banned the existence of bitcoin. Maybe you can't accept it because of the nature of bitcoin which is difficult to track if government elements do money laundering, corruption, etc.. this may be the government's consideration so that the government gives a statement that bitcoin is not a legal tender.

Well there are some countries that did not take action to put a law on a cryptocurrency, they keep neutral on it. Because they know that banning bitcoin is useless and sounds like they are a fool banning bitcoin while their people can still use it, the reason bitcoin until now exist because of this because ain fact government has really nothing to do. There is various reasons why the government did not accept bitcoin and we are very lucky that our government was in a neutral position about bitcoin.

Actually the reason most countries reject Bitcoin, is because they can't control Bitcoin. Don't ban Bitcoin because of this, even though Bitcoin
can't be controlled, I think Bitcoin has great benefits. So I have more respect for countries that are neutral than countries that ban Bitcoin.
Even though as we know banning Bitcoin is useless, because of the fact that countries that prohibit Bitcoin, residents can still use Bitcoin.
Why are countries that ban Bitcoin closed-minded and selfish, they should give Bitcoin a chance by being neutral first, do not immediately rush
to ban Bitcoin.

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Quote from: Shamm on August 26, 2021, 10:56:22 PM

No offense for other countries 🌹

Why should other countries did not accept Bitcoins or let's says that Bitcoins are illegal to them?

Many reasons why some countries treated Bitcoins an illegal. But we all know that Bitcoins did not break the rules of the government, in fact Cryptocurrencies are very popular nowadays especially Bitcoin, many people got successful by joining Bitcoin.

In my point of view Bitcoin is not illegal unless you're trying to scam someone. Bitcoins did not steal money from the bank so what's the point we say Bitcoin is illegal?

Many countries that are banning bitcoin are scared that it will affect there economy especially there stock exchange in becoming less valuable because many citizens will shift there view from the individual country's stock exchange to trading cryptocurrency reducing the influence of Fiat on people that are doing business transactions.

If all countries in the world decided to accept cryptocurrency, the world economy might fall because those big Fiat currencies that are used in exchange and comparison of different Fiat currencies will become less value and people will start converting there Fiats into cryptocurrency making it hard for Fiat to survive at the long run.

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Quote from: tazmantasik on September 01, 2021, 02:31:20 PM

Even in my country the government says that bitcoin is not a legal payment. Even though they have never completely banned the existence of bitcoin. Maybe you can't accept it because of the nature of bitcoin which is difficult to track if government elements do money laundering, corruption, etc.. this may be the government's consideration so that the government gives a statement that bitcoin is not a legal tender.

Well there are some countries that did not take action to put a law on a cryptocurrency, they keep neutral on it. Because they know that banning bitcoin is useless and sounds like they are a fool banning bitcoin while their people can still use it, the reason bitcoin until now exist because of this because ain fact government has really nothing to do. There is various reasons why the government did not accept bitcoin and we are very lucky that our government was in a neutral position about bitcoin.

tazmantasik

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Even in my country the government says that bitcoin is not a legal payment. Even though they have never completely banned the existence of bitcoin. Maybe you can't accept it because of the nature of bitcoin which is difficult to track if government elements do money laundering, corruption, etc.. this may be the government's consideration so that the government gives a statement that bitcoin is not a legal tender.

Ibrahim60

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Bitcoin is a digital currency. Because of decentralization no one can control its transaction. No one can trace its transaction. For this reason so many bad people use it for illegal work and do money laundering. For this reason government do not legal it. For protesting money laundering and crime government ban it form their country. Also the government don't get any tax from it. This is the reason why they don't accept it.

Cling18

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Quote from: The Cryptovator on September 01, 2021, 01:29:08 PM

Every different person has a different thought, same every government has a different point of view about Bitcoin. Most countries aren't well familiar with Bitcoin technology. I am not sure about other countries, but my country's government thinks it's very easy money Laundering via Bitcoin. On the other hand, they think there is a high risk in Bitcoin investment due to much volatility. That's why Bitcoin is illegal in my country. But I will say my government doesn't know Bitcoin technology how works. Due to a lack of enough Bitcoin knowledge, they discouraged allowing it.

Most countries see it as a treat and since it's decentralized, the government doesn't have control over it so they just ban and don't accept it. It's a good thing that Bitcoin is legal in our country and some businesses are also starting to accept it. People, as well as the government, only need to see the value and importance of Bitcoin.

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Every different person has a different thought, same every government has a different point of view about Bitcoin. Most countries aren't well familiar with Bitcoin technology. I am not sure about other countries, but my country's government thinks it's very easy money Laundering via Bitcoin. On the other hand, they think there is a high risk in Bitcoin investment due to much volatility. That's why Bitcoin is illegal in my country. But I will say my government doesn't know Bitcoin technology how works. Due to a lack of enough Bitcoin knowledge, they discouraged allowing it.

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Quote from: uneng on August 30, 2021, 04:01:18 PM

Quote from: Dilladupak on August 30, 2021, 02:56:15 PM

Often I hear the main reason Bitcoin cannot be accepted by the government is because it is not controlled, and I think that makes sense.

Yes, because bitcoin's volatility many governments don't want to incentive or make it legal. They say it's too risky to use bitcoin as currency or investment. Actually that is the only government's excuse that makes some sense.

Then is it for this reason that Bitcoin will never be accepted by the government?
Because the value of Bitcoin which has high fluctuations will not be released, because this has become a characteristic of Bitcoin.

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Quote from: Nunoluck on September 01, 2021, 08:10:49 AM

Unfortunately there are many criminal use bitcoin for money laundering and other crime activity, but it's not bitcoin fault. Criminals use everything to do crime. I think government should not judge bitcoin as something bad, as far as I know using bitcoin will not stop law enforcement to do their job so actually there is no reason for countries to ban bitcoin. Some countries afraid that their citizens will suffer financial loss if using bitcoin because of the volatility. But I think it will be better if government teach their citizens the right way to invest in bitcoin rather than ban it. Banning bitcoin only slowing the world advancement. As human we have to keep moving forward.

Even if it's not bitcoin's fault, part of the crime is also about bitcoin ownership and as the supreme power over a large land, the government considers more about safety, instead of omitting a few minor errors, the government emphasizes more when such omissions easily create a criminal tradition on the internet. The government has many development principles on the way to the future, they ban bitcoin but they have plans for other expansions, so it is not possible just because of bitcoin to judge the fate and future of a country

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Quote from: glendall on September 01, 2021, 09:12:24 AM

every country has their own reasons for rejecting the existence of bitcoin, like my country the government is afraid of money laundering in its country's officials, and companies in my country
Due to the anonymous bitcoin system for its owners, it is difficult for the state to detect it

money laundering in every country must exist, and it has become an old story of one country, that's just a classic reason one country refuses bitcoin subtly, because they are afraid that their money / currency will be worthless

Pulsar77

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Bitcoin is not illegal until governments ban it. It is that simple. People who still claim that it is illegal when there is no law about it are just ridiculous. They don't like Bitcoin and they decide to blemish it. But this is really a poor way of doing this. They should come up with a better quality criticism.

Bitcoin doesn't break any rules. Governments are just not leaning towards making it the main currency due to its high volatility.

imstillthebest

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Quote

Bitcoins did not steal money from the bank so what's the point we say Bitcoin is illegal?

that would be funny if bitcoin steals money from the bank because bitcoin in the first place is not human .
the only reason why bitcoin is called illegal is not because it done some crime but because bitcoin was not yet accepted or not allowed in that said country .
however here are more formal terms that can be used instead of saying illegal like " ban " or "restricted" .

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Quote from: glendall on September 01, 2021, 09:12:24 AM

every country has their own reasons for rejecting the existence of bitcoin, like my country the government is afraid of money laundering in its country's officials, and companies in my country
Due to the anonymous bitcoin system for its owners, it is difficult for the state to detect it

Even before Bitcoin's existence, money laundering are already been there. I don't think this was a good excuse for not accepting Bitcoin but probably it was a personal interest where they wanted to control the market which is impossible to happen.
The government doesn't like people to become anonymous and they will fight for it. The authorities wanted to tax people who hold and invest cryptos but that is probably a big problem with them because they can urge people to pay for that. And this made them angry and hate Bitcoin's existence.

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every country has their own reasons for rejecting the existence of bitcoin, like my country the government is afraid of money laundering in its country's officials, and companies in my country
Due to the anonymous bitcoin system for its owners, it is difficult for the state to detect it

Nunoluck

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Unfortunately there are many criminal use bitcoin for money laundering and other crime activity, but it's not bitcoin fault. Criminals use everything to do crime. I think government should not judge bitcoin as something bad, as far as I know using bitcoin will not stop law enforcement to do their job so actually there is no reason for countries to ban bitcoin. Some countries afraid that their citizens will suffer financial loss if using bitcoin because of the volatility. But I think it will be better if government teach their citizens the right way to invest in bitcoin rather than ban it. Banning bitcoin only slowing the world advancement. As human we have to keep moving forward.

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Quote from: vanessacummings on September 01, 2021, 07:26:37 AM

@ropyu1978 These are just excuses. The decentralized nature of Bitcoin is the main reason for it facing resistance in many countries. Governments have no control over it and they are still finding ways to regulate it properly

Yeah, you just mixed the words that @ropyu1978 have just said but I'll humor you, they don't have control over it but they can always go for the people who use them, if there's no one who uses it, then bitcoin is as good as gone in that country.

vanessacummings

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@ropyu1978 These are just excuses. The decentralized nature of Bitcoin is the main reason for it facing resistance in many countries. Governments have no control over it and they are still finding ways to regulate it properly

ropyu1978

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the reason other countries don't accept bitcoin, is none other than not, of course their main reason is, they can't control bitcoin, and they can't take advantage of bitcoin,, if the country says bitcoin damages the environment, it's illegal, global warming occurs ,a waste of energy, I think it's just an excuse to convince people who don't know very well about bitcoin..

cotton ball

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why other countries don't accept bitcoin,? actually it is their right, but if a country says bitcoin is illegal, of course we will not accept it, because bitcoin has never stolen money from banks, and bitcoin has never harmed any country, if a country does not accept bitcoin for reasons of wasting energy, even that doesn't make sense, the proof is that there are still many other companies that cause waste of energy and damage the environment, but instead are supported by the government, if I personally think the reason they reject bitcoin is because they can't control bitcoin..

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Quote from: Shamm on August 26, 2021, 10:56:22 PM

No offense for other countries 🌹

Why should other countries did not accept Bitcoins or let's says that Bitcoins are illegal to them?

Many reasons why some countries treated Bitcoins an illegal. But we all know that Bitcoins did not break the rules of the government, in fact Cryptocurrencies are very popular nowadays especially Bitcoin, many people got successful by joining Bitcoin.

In my point of view Bitcoin is not illegal unless you're trying to scam someone. Bitcoins did not steal money from the bank so what's the point we say Bitcoin is illegal?

That POV that you've given is the same as fiat's. There are scammers that have been scamming people through fiat yet the government won't declare it as illegal since it's their own printed money.

And to the point of banning bitcoin, they don't like it, its feature and almost everything. It also sums up that they don't understand it and that's why they're not liking it and only knew that it's being used for illegal trade which is just the same as fiat.

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