Bitcoin Forum

After last years record of bitcoin, it came in the bright light an more and more people got introduced to cryptocurrencies in general. But after that the government officials and banks started to convince people to avoid indulging in the cryptocurrency world, be it any virtual currency.
A lot of banks have stopped purchase of any cryptocurrency through their cards and some trading sited have also warned users to withdraw all your money from trading and put a hault on any trading activity. They say as cryptocurrencies are highly volatile, one could go in great debt as reaching unprecedented heights is not promised to anyone.
What are the legit and massive reason one should truly keep believing in bitcoin and cryptocurrencies other than it being anonymous and it lets people have control over their money?!

Government are telling you to support Banks. You trust these Banks, because you think the government will protect you. Wrong! What happened with the last economic crisis? The Banks got into trouble, because of Fractional-reserve practices and reckless loans and the government stepped in to help them.

How did they do that? They took more of your money <taxes> to bail out these Banks.

Do you still think governments care about you? They want to destroy Bitcoin, because it takes away some of their power over you. <There is no Banks in Bitcoin, so they cannot control your money>

The only reason why Bitcoin is still here, is because governments cannot shut it down completely. <Bitcoin is decentralized>

don't confuse warnings with full on opposition.

it is logical to give warnings about cryptocurrencies and encourage people to invest more responsibly. all the countries have already given such warnings because people have been getting reckless and were taking huge risks, for example using their credit cards and maxing them out to buy bitcoin.

but going against bitcoin, banning it,... and generally any FUD is a different story. it is not something you should follow. you should stop believing in your government if they do something like that, and maybe they need to be changed if they are setting laws that are against what you believe in...

I think one cannot stop the revolution, they will join the game. These news about risk of up and down only gives chance to government and agencies entering the market with cheep prices

maybe the reason why the government were trying to stop the bitcoin is that they dont get any share, imagine, the transaction is people to people, no bank, and the government dont receive money from the bank

Your statement here is true though. Bitconnect was outed as a ponzi, but it was regarded by many as a legitimate cryptocurrency prior to that. How many people lost their life savings in that? I'm not saying all cryptos are ponzis, of course, but even if you had put money in that, but did it responsibly, then you shouldn't have any problems in the long run. I do believe most entities have hidden agendas in opposing crypto, but the warnings are likely there in part to encourage responsible behavior.

Either way, you shouldn't listen to anyone blindly. Governments have been known to be dishonest at times.

Yes .. because I believe the Government does not prohibit about Bitcoin .. but the Government only takes time to receive Bitcoin ..

whether or not this crypto, the bank can rob your money. so crypto actually not  same line with banks, different process, but same result, and i dont know why some banks denied crypto

In 2012, there were lots of talks about "Buy 1 ounce silver. End the Fed". Then Silver price crashed from $50/ounce to $9/ounce.

Firstly the reason above should be enough to believe in Bitcoin because privacy is something that should be sacred to each human. We shouldn't have to sacrifice that just because there are a couple of bad actors out there. We shouldn't have to submit ourselves to KYC and AML just because there some terrorists and bad people out there. Another big reason for you to believe in Bitcoin is that it will give the rest of the world who has never had a chance at banking, for the first time they will be included in the system. If that isn't something magical, I don't know what is.

Actually the popularity of digital currency is bad for bank because think if we can save our own money here with no fees at all not like bank that you need to pay atleast a little so still there's a fees

But better to do is to save money in bank and here in crypto wallet also for more good

Here in my country they help each other company in their business to earn and we have digital wallet and for our own money wallet too

For Government, they are protect of legal currency, if all use bitcoin, the government will loss  their power of control the country and they will loss the administration ability. That's why they said no to bitcoin. Because bitcoin is cryptonym and decentration. Just this reason, in this range there are some project or person is scamer, so country give warning.  Also in Bitcoin range the up and down is very huge, not just 10%-20%, it will huge mabye one day is 100% or 1000%, or oneday you will just loss about from 1 to 0.1 or 0.01, this is risk.

 

I think the main advantages are: decentralization, free regulation of money supply and distribution, smart contracts (dealing with legislative issues) and smart platforms for investments in new technologies.

About decentralization you can find an interesting discussion we had here, check it out if you want: https://bitcointalk.org/index.php?topic=2863445.msg29392144#msg29392144 (https://bitcointalk.org/index.php?topic=2863445.msg29392144#msg29392144)

I think they will not be able to stop what has long since become a reality in people's lives, bitcoin has been around quite a while in a circle of different communities and it is unlikely that the government will be able to stop it.

The government does not proceed from an individual point of view. Instead, it treats bitcoin from a national perspective. Bitcoins are not conducive to government surveillance of people's property, so they just tell you not to believe it.

I think yes, we really have to see for ourselves and experience the brilliance and the wonders of bitcoin. Granted that the government has valid points in ehich it can raide some concerns towards its integration provess and the likes to its country. It is still something that we believe in because it works for us and we have been benefitting from it and we know that given enouch chance or the technology to be integrated slowly then it would be a big boost not just to the economy nut a great step forward into our future

Yeah, governments try to regulate criptocurrency market because it is a lot of money out of government control. However, I hope this issue will be resolved in future

Bitcoin is out of government control, so the government thinks all cryptocurrencies are dangerous because they have no control over it. But we can ponder over whether bitcoin really is dangerous, it's just a technology, a technology that everybody knows knows of potential, not an unlawful item.

I believe in bitcoin for many reasons, but the government telling me not to, it is another strong one I have to believe.

there are foreign govenrations that can not handle the bitcoin so they do not want it in their country and think they will not earn it if they can not handle it and another is not as tax bitcoin so they just do not want bitcoin and want to ban their country

Government are only worried about tax invasion with the use of crypto but they keep warning their citizens not to trust or put money in Bitcoin as it is risky investment and can be used in money laundering. Government want to keep sucking tax from every citizens regardless of their financial status and also want to force their citizens to keep their hard earned money within their country, both of this against freedom right we all should have.  

Government don't want us to have financial freedom.

Why should i don’t believe in bitcoin if the government can’t be trusted? The idea is they were given the power to serve for the people but that is just a delusions and election promises,, they’re on position in purpose for money and they can’t have it without the help of financial supporters that obviously behind all the oppression of poor citizens of one country.. May not all but most of them..

The governments must have plans for Bitcoins.

The belief in bitcoin even though the government does not do it because bitcoin there is an individual investment is not a group or a country, for that although the government still has not legalized bitcoin officially does not mean bitcoin stops and does not mean but it has been tested and proven for its users.

Nowadays many countries cannot accept Bitcoin for many reasons, but I think they are worried because Bitcoin is considerable money, so it is easy to be attacked by hackers, besides those countries that banned Bitcoin have a background. The economy is not enough to meet the demand of Bitcoin.

Most government don't know what bitcoin really is so they criticize it the way  they viewed it.  Most governments as well don't want it citizens to be financially buoyant so they don't want them to get involved on it.  I want to change my financial situation so can't  listen to my government criticisms

Mostly all countries or any government has already warn their people about cryptocurrency business, but we consider that governments are truly concern for their people. And if we analyze the situation today about bitcoin business, we can noticed that there are more personalities involves in bitcoin business are came from the family which is the daughters and sons of every politicians or government leaders. As what I have been heard that the son of president is joined bitcoin business, but I will not mention here in the forum about the name of the persons involves for the security and safety purposes. So, we can say that even high profile personalities or even government officials are also participating bitcoin business.

Let's say that it is the beginning of the end for the banks in general (at least not starting to meet cryptocurrencies) from now to 50 years surely we will see radical changes in everyday life as regards the management of money in general. How can the government safeguard the interests of banks if not through the ban?

government worries about potential tax evasion ;D not invasion
money laundering and terrorism (government's #1 concern) also some of the possibility of negative use of bitcoin
flow of support fund for terrorism is becoming harder to detect and trace with the use of crypto currency

would I still continue believing in Bitcoin? Yes, but I will cautiously with whom I do my transactions...
you don't want to accidentally help terrorists get their ammo's fund, do you? :P

Here are some of the reasons that you should keep believing in bitcoins even when the government says not to:

1) Most of the people against bitcoins compare it with other online ponzi schemes. They think that just like other past fraud schemes, bitcoin will also go away with the investment of a lot of people. We had been hearing this for past 8 years. If it was a fraud scheme, it would not have been able to survive for so long.

2) Second issue that complainers have against is that prices are volatile. Some people give example that it dropped from $18000 to $7000 in few months. Reality is if you invest for long term, you will never see loss.

The government is warning, not outright opposition. There's a big difference. The government is worried that bitcoin will affect the state of the economy, so it is usual to discourage investment in bitcoin.

With cryptocurrencies, if all merchants start to adopt these payment system, we could buy almost anything around the world with so much ease. Without the need to have a bank account. Without someone eyeing on you. This is the freedom that i want to believe in.

I still believe in bitcoin and I really hope that the government will open their eyes to the new technology which will bring a new hope for every people in the world. maybe it still too far for us to see bitcoin is accepting in many countries but believe me, we still have much time to see this and bitcoin itself is still new and need to maintain and fixed if there is a problem. I think the government still learning about this technology and we could still use bitcoin until now.

Indeed the government wants us to be responsible in investing. The government just want us to be cautious in every dollar we invest because fraudulent schemes are just waiting for their victims. This is not only in the form of Bitcoin but even in fiat.

In the other hand, Banning bitcoin would mean the government and banks are threatened. With bitcoin, the banks are no longer needed because it is designed using a peer to peer transactions.

We mean the users will believe bitcoin because we know how bitcoin will help to improve our financial system. but I think our governament will never open their eyes until they find out how to collect tax from BTC users. They will never entertain their people to use this technology because it will affect their country economy.

Yes of course! government are bunch of people who are all corrupt especially when it comes to money. Bitcoin are involving with a big amount of money, millions and billions of it. I won't follow the government when it comes to bitcoin. They don't really care about people having big earnings and financial freedom from doing bitcoin. They also don't study what is bitcoin all about. They just want people to pay taxes and bitcoin don't have tax.

The value in bitcoin is that it is decentralized and censorship-resistant. Thus, the fact that some governments are hostile to it is irrelevant. No one can stop bitcoin.

I agree with you. Government officials have nothing to do in Bitcoin. Thus, I will continue to believe in bitcoin even though the government says no.

you believe in btc because there are few countries ban btc now, if most countries in the world ban btc or announce btc is illegal, then little people will believe in, it all depands on which and how many countries say no

Yes I'll continue believing in Bitcoin when the government says not to because some of government officials are a stockholders of banks. Some banks says that we need to stop believing in bitcoin because that is risky or whatever that's not good for Bitcoin. For my opinion they only says that because if we will support and stay believing in bitcoin all of the banks will bankrupts. Banks that want to stop or to kill Bitcoin.

The main reason to believing on bitcoin is limited supply and its impossible to add supply even market demand increasing. The different with fiat money, central bank and goverment control their supply and always print money from a think air.

I don't believe in the government's ban on bitcoin, I don't believe it, when the financial crisis comes, the government, the bank can't help you.

I only believe in bitcoin because it's safe. It won't depreciate because of inflation, and it has high investment value.

Government only says not to trust Bitcoin because they want us to support banks. As we can see some Government are against bitcoin,  because Bitcoin is starting to envade other country's banks now. No matter what they say to destroy bitcoin's image. Its too late for then to turn our heads away from bitcoin now because we already proved that bitcoin is a good benefit. Government can't be able to do anything to stop Bitcoin's prevalence, bitcoin is unstoppable as it look forward to be the future Currency.

I think I will continue to believe you bitcoin, and I think the Chinese government is precisely the government in the world should not suppress bitcoin! As we all know, China is a strictly foreign exchange control country, and the RMB is facing considerable devaluation pressure. Ordinary people exchange only 50,000 US dollars per year amount, forcing many people to think of other tricks in the hands of the yuan into dollars. Among them, bitcoin is a very good way to trade the foreign exchange. Now many people mention that the first thing they should think about when trading large foreign exchange is through bitcoin. At first glance, this does indeed require a hole in exchange controls. However, carefully scrutinize the purpose of the central bank's foreign exchange controls. Actually, it does not mean that you will not allow you to change the U.S. dollar. Instead, you will not let you find it for the U.S. dollar and consume its foreign exchange reserves!

Perhaps the government forbids bitcoin because many are abusing this vitality money as a crime. In addition the negative effects of bitcoin on the government will be reduced its bank users, if at any time all using bitcoin may bank will go bankrupt. Believing in bitcoin is my way of life as long as it does not harm the government ;)

It is highly dependent on your part. If you want so, then, go and use bitcoin and continue to believe in this coin. And also cryptocurrencies. Me, I intend to still follow bitcoin in order for me to get more profit. I have 3 balls that are iron to hodl. :)

Yes I will because bitcoin is my life and because of bitcoin my life have been changed a lot. This wil alwys be my life changer forever

Actually, whatever damage the government will do they can not prevent the person to use Bitcoin, Bitcoin is really a big help for everyone  even an ordinary people could get involved with kind of technology, and just accept the fact that because of Bitcoin lots of people have already change their life, so government difficult to stop Bitcoin.

I think if bitcoin is banned I probably still believe in bitcoin. Bitcoin's profits bring so many people, but it's not good for the government. Perhaps the government wants people not to be financially free because it affects the government's profits.

If your life has been changed by bitcoin overtime, no matter what the government tell you,it wont matter at all. government is just trying to steal the people's trust to bitcoin which will be more beneficial to them in the future. once they can regulate bitcoin, they will use it to their own advantage since most of the government are just after the power and money.

We must understand that governments will always look for the extreme control on most of the things and if cryptocurrencies are acting against that motive then governments will label it as dangerous. It's not against government but it's the subject matter of centralisation vs decentralization. We are the group of people who believe decentralization has more benefits as compared to that of centralisation. That's the reason why we believe in Bitcoin irrespective of the government's warning.