Bitcoin Forum

many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.

Many politicians and clerks in those countries have close relations to the bankers,and the bankers usually hate cryptocurrencies.The gambling industry pays a lot of bribes to the politicians and that`s why gambling isn`t that restricted as crypto.People,who smoke pay more taxes,which unfortunately is good for the governments.
I wish  the crypto industry could gain the same amount of influence over the politicians as the gambling industry.

Because those all are fair gambling, where players face (slightly) negative odds. BTC is a scam, where people are sucked in in good belief and will eventually lose huge amount of money. The fact, that You are running positive, doesnt mean anything. The bigger, "market cap" grows, the more money people lose overall.

Yep. And they allow casinos, lotteries,  and other different kinds of gambling platforms like you said. But still some governments say crypto is "too risky". Screw the government.

So are you saying that it's guaranteed for people to lose money when they invest in BTC? Okay Mr. fortune teller.

because in terms of gambling and others, it is still using the state's own money, this is why the state money so still get input from the tax, unlike the crypto, in fact, this becomes a serious problem in every country, which if allowed this will disturb the stability than the state itself. I think this is a serious problem in every country, why many considerations that need to be studied to be able to make the crypto legal

I strongly disagree with this statement. Bitcoin is not a scam it is a currency that stores of value that you can use to trade. Every transaction can be tracked unlike if you hold your money in fiat currency in the bank you will lose your money from year to year because of inflation.

It is not about allowing cryptocurrencies or not. It is about lobbies. Banks and politicians want to control everything while Bitcoin and cryptocurrencies will not allow them to do so. They will not profit from Bitcoin like they did with fiat, some countries are trying now to make gains from imposing taxes which is not that easy for now.

Because most of the people running the government doesn't have enough knowledge about crypto. The only thing that they know about crypto is it can be used in illegal transactions. They are too scared about the thought of decentralization and the lack of control when it comes to crypto assets and taxes.

It's simple. Money.
 Gambling establishments pay big bucks to the politicians to briibe them. Liquors and cigarettes have high tax rates giving the government more money. That is the thing about bitcoin, the goverbnment cannot benefit now that's why they are trying to get rid of it.

The world we live in is run solely by profit. So, this is the major point. Cryptocurrency is of no direct benefit per say to government officials. It doesn't rip in profits for the common banks and financial institutions. It is just like trying to bypass the over-privileged middleman. He's not gonna be happy with you. Most of these betting, tobacco and various companies also pay off the government. But most bitcoin traders remain anonymous, no one to tax really. That's where the beef arises.

Yes, that what I said. Because English is my 3rd language, I can not express myself freely. While every single person does not lose money (whales and skilled speculants scam money from others), the vast majority of people are quaranteed to lose a great sum of money. As in any monetary scheme. You will see it soon enough.

Right, with bitcoin they can generate more income. At the sa.e time people will benifit as well, unlike with the stated example earlier, with those stuffs people did not get good effect but it is not good for people. And also with bitcoin, the economy will grow bigger. With bitcoin it does not only benifit an individual but those who uses it.

The only way, You can "generate" anything with BTC, is on behalf of other people. Thats is crusial to understand. Besides that, BTC is just a waste of environment, time and energy.
Economy will not grow anywhere thanks to BTC.

Because unlike all the things that you've mentioned, cryptocurrencies undermine government's control over the population: cryptocurrencies are decentralized and cannot be controlled by government or any other entity, they can be made private and prevent government from monitoring your transactions, they are completely independent from fiat, so the government can't just print more currency. All these things can significantly weaken or even destroy any government if enough people switch from fiat to crypto.

many countries (in fact nearly all of them) also allow usage of cryptocurrencies so I don't know why you even started this topic! maybe because you fell for the FUD that keeps coming out saying some country banned bitcoin?

in any case the drama that surrounds cryptocurrencies which the FUDs refer to as a ban is mainly concerns that governments have about them. concerns including usage of them for illegal activities, tax evasion, and some other stuff. and the goal is regulation... something similar to regulating gambling casinos, giving liquor license to those selling it,...

Politicians make money out of this.Especially from gambling, these gambling establishments sure birbe politicians to sty operational.
With liquor and tobacco, they have big taxes which the government are making money from. So why would they shutdown a source of money right?

For one very simple reason....TAX, all the examples you mention are taxed at various rates (depending on your country) until they find a way to control crypto in order for governments to be able to tax it then they won't legitimise crypto. 

Yes as simple as that,  because in crypto they have no control and can't gain any amount from it. Like what you've said TAX.  Not like gambling, liquor, horse racing that they can surely manipulate and can gain income from it.

Valid argument! But I see a problem is keeping cryptos in the similar comparison with gambling, liquor, tobacco, horse racing. These are all businesses and crypto is not a business, it's a genuine technological masterpiece which has the ability to radically change the financial system of the world. That is exactly what the Banks are not liking about cryptos.

The banking lobby is a very strong one around the world. Over the decades, they have established themselves as an organized controller of public money. They know that their stronghold is going to be diminished once people start accepting cryptos the way they are handling fiat now. They will oppose till their last breath to make cryptos illegal for the same very reason. Since they finance majority of the infrastructural project around the world, governments have nothing to do but to listen them. 

You cannot compare, gambling, liquor,tobacco and horse racing to Crypto currencies like Bitcoin. A lot of these governments see Crypto currencies as a threat to their local reserve currencies and their control over money supply. A lot of people are also using Bitcoin for illegal activities, but they are more than willing to ignore these illegal activities when it is done with Fiat currencies, but when Crypto currencies are used, then a BIG thing is made about this.  ::)

They are scared to lose control, so they ban whatever is posing a threat to them.  ::)

It is like always for the institutions, as soon as they could not take a profit of a market they ban it !! When they will understand that they could not block it forever, they will find ways to regulate it and take profit. then they will surely give the green light to use it. Money and profit is the khey of the war, when they will be able to catch the money the most they could they will go in it.

literary no country 100% allows any of the things you just listed here. you are oversimplifying things to just make a topic about it. in reality there are laws for everything. for example an underage kid can not go to a pub and ask for alcohol because it is illegal. so you can't say "countries allow liquor"!
the same is true about cryptocurrencies. you can't use bitcoin to scam people, or launder money,... but you can invest in it, pay your taxes and use it as a currency.

Those are products that the government actually earns from taxation. They won't allow something that they haven't studied for a very long time and adopt it easily, it is related to advancement but they are only looking at the bad that crypto's can be used illegally.

Absolutely they allow all of that thing but why not crypto?Its because the government wont earn from it because crypto has no tax the reason why it is being banned unlike liquors and cigarettes it pays tax alot to government.

the most dangerous thing that the government feared was a decentralized bitcoin system, so the government could not monitor the circulation of bitcoin, in addition the bitcoin transaction was also not taxed so it was considered to kill the national currency.

But the reason is very simple: with the products on your list they get a lot of money deriving from the taxes applied (and are products from which a nation that wants to do the good of citizens doesn't "sponsor" because they take away wealth from citizens).
The crypto (I think bitcoin) do the exact opposite: they increase the wealth of citizens and are not taxable. And in addition they undermine the base of the nation itself.

They neither allow crypto nor ban it mostly.

Well, technically you're right. But what's your point? Some traders and investors in general lose money one way or another; not only on bitcoin or other cryptocurrencies, but also with stocks, bonds, businesses, real estate, etc. Does it mean that these stuff are scams? Nope. Or did I not understand you again?

You are not a perspective person which not search in deeply enough to find if a cryptocurrency is banned in the country that you mock. Mostly, a country that allows gamble and such things that you said before, it's pretty common to not to ban a currency since it is not illegal.

Comparing Apples to Oranges Ehh?? One is a threat to the banking/Government system just like Kakmakr mentioned, while other is a way to make rich even richer... Now I will let you decide for yourself why one is not being allowed while other one has the green signal. Trust me it's not rocket science. I think you will figure it out.  ::)

I agree with your submission. Government love to take money from the people since bitcoin does the exact opposite, they are mad like "this can't be we must find a way of taxing this". Truth is that the current financial system is structured to lead people into slavery and thereby controlling them.

I am still thinking about it. when the government there are legal gambling, but why crypto is not in legalkan. whereas crypto is a good investment asset, also has the same risk as gambling. if the problem is tax, it should not be a big problem.

Actually, there is no right in anything related to gambling because it can causes bad effects to people especially it damages their financial stability by the cause of the possible losses in doing gambling. However, I'm also thinking why cryptocurrencies and it's system won't giving a chance to prove to the governments that it can brings positive things to the community and not a harmful one. Maybe cryptocurrencies can able to prove that it can be the best things to have one's economy in the near future.

The critical difference: while normal companies (including those who offer digital services), may become very successful and grow virtually forever, BTC cant. The reason behind that is: product behind BTC is not viable. It does not work, it has and will not have scalability. You are being told stories of mystical lightning technology, how it comes and saves the day etc. It wont happen. BTC price now bounces few times, with top being at lower value each time, it bounces.

In one year, BTC is done. Its a monetary scheme with no real viable product behind it.

Every country has its own approach, thinking and expectations and i don't think cryptocurrency should be related to the above listed works like Gambling, horse racing because cryptocurrency trading is a business and it should be traded in that means as a purely business perspective. I trade cryptocurrrency, stocks, forex and commodities with the same approach & mindset and i am quite doing it in a successfull way.

No that didint mean, that all stocks are scam. If I sell You Netflix stock, You may believe that Netflix will be hugely popular, offer value (movies, series) to more and more people, those want to pay for services every month, profit of company, therefore its value, grows. Now very important point: product of netflix or streaming media, if You like, is perfectly possible and viable product.

IN case of BTC, the only way You get any profit, is when You sell it at higher price to another person. Claimed product behind BTC is NOT possible or viable. Validating transactions by this method has no scalability OR it will be ridiculously expensive OR it wont be decentralized. BTC, as it is promoted, is just a cover for monetary scheme, I wont name it pyramid, because its not exactly pyramid. Although mining part is not very far from being pyramid too. If You draw payment of miner after every halvening, it will look like this:

$$$$$$$$$$$$
     $$$$$$
        $$$
          $


First row is first released coins, or first years, if You want. If You look at it, You can understand very well, how whales became whales.

Games, tobacco, alcohol, horse racing - all this distracts the population of the country from the pressing problems of the state, distracts from politics. This is very beneficial to power structures, which quietly rob the treasury. A crypto currency is money, and money means power. If there is money worth $ 10,000, of course this will be in the sphere of priorities of any government. No power will not give you the opportunity to just be enriched. Now they are studying the problem of the crypto currency, and if they do not find a way to use the crypto currency in their own interests, they will limit its circulation under various pretexts.

The problem is that the government can control those things but they can not control Bitcoin

According to me, all comparisons have been slowed down. It is difficult to market crypto with items like alcohol, cigarettes ...
It is important, in my opinion, is the objective evaluation of the electronic money market, as new content and new global developments will emerge and change the lives of people in a positive way.

You should know both gambling, liquor, tobacco, horse racing have there way of returning to government agent purse, be directly or indirectly as bribe. But in the case of bitcoin, the decentralized nature does not parmit such. And any thing government agent does not benefit from will find it difficult to survive.

All that you mention can be expanded by the government, it can be with taxes or other things that are beneficial for the government.

Try to look at cryptocurrency, can they manage it easily? what makes it profitable if the government adopts cryptocurrency like bitcoin? tax? I think cryptocurrency users can manipulate it.

Countries need people to exploit on. Thats why they are against the use of cryptocurrency. Cryptocurrency is an excellent way for the people to acheive freedom from the typical old-fashioned system. People no longer need the government and the governments hate this about cryptocurrency.

It's not really black and white like that.

The benefits of bitcoin are obvious, yet most governments around the world are still extremely anti-bitcoin in their policies and regulations.

An analogy can be with marijuana, and tobacco. While studies have found that marijuana is significantly less addictive than tobacco and don't have a lot of the bad health detriments that tobacco has, governments still legalises tobacco because of the tax revenue, and most countries still don't have a legal recreational market for marijuana.

Same for bitcoin, while it can benefit everyone as a store of value and medium of exchange globally, certain governments don't support bitcoin and some even go to the lengths to ban it because they are afraid to give up control over the economy, and monetary supply. Either that, or they have an irrational fear of bitcoin's illegal uses (which has been debunked many times).

It is really a good question and I think they only allow those which they can control but if we look closely we can find that they can not control it may be thats why.

All of the things being stated are helping fiat money to be more valuable, thats why they allows it. We know that cryptocurrency is digital money and its decentralized and volatile, because of its characteristics government not allowing it because they can control it and it has abnormal changing of value, and most importantly is that it is a great threat to fiat currency.

 I think banks are the big hindrance that's why governments do not allow crypto currencies. Unless banks  and governments are not able to formulate or develop safety nets and regulations advantageous to them, cryptos will never be allowed.

We don't have the same potential risks by allowing horse betting, tobacco, and cryptocurrencies. The main concern is about money laundering which is something governments have been fighting for decades. Following your logic we could ask, since governments allow gambling why they don't allow drugs lol

because gambling, alcohol, tobacco and other abusive substances are destroying people that become addicted to them but bitcoin is something that can destroy the corruption that can be found in some of the governments and their banking system so as a result they allow the first group and don't have much of a problem with it but they have a hard time seeing themselves lose control because of bitcoin.

Hey it seems to me you're mistaken as Bitcoins is allowed in almost all countries, while it's true it's not official and some have termed it as illegal but it's yet allowed. There is no comparison between the industries you mentioned as these are backed by rich and influential people, and most of them are bankers who'll not allow cryptos to become mainstream unless they find a way to profit from them, also they're scared it'll disrupt their system so it'll take quiet a while before it's allowed for official use.

Of course, these things are properly taxed, used by many people and most of all, tangible. Crypto on the other hand is used only by a small percentage of people, does not classify as goods, not a security, has an identity crisis in being a currency, and intangible. Makes sense that the government would have a hard time dealing with it and would probably resort to banning it.

Life is a game and everything that surrounds us is also a game !!! We take any sphere of life activity - these are the rules that society has accepted! I do not think btc is cheating! I do not think btc is a gamble either! This is a new world and there will be new rules, which will soon be adopted at the state level !!!We are waiting for big changes! ;D

Because cryprocurrency is a totally different from all those things you mentioned. Gambling, liquor, tobacco and horse racing has been around for centuries. These things will run even without the aid of computers and the internet. Cryptocurrency is too complicated for some people, even to some techies.

This is due to the fact that all these activities are controlled by someone and bring a good income. Cryptocurrencies are not controlled, so they are artificially slowed down.

Because they didn't see it yet. Some of them are too closed inside their bubbles that they can't see beyond.

Just like with all those things it's just a matter of time, it won't be instant or happen next week. But i personally believe it will happen, over time. You can research how many years it took for each of them.

They will eventually see the light. However, more people need to adopt it to put pressure inside the political systems of those countries who resist.

It's not right to measure them like the same things. Before anything else, they pay tax for it and there are some countries, even they fill the budget with these taxes. Certainly, there is tax for the cryptocurrency, but the privacy of the crypto is helping you hide. In addition, acceptance of cryptocurrency will collapse bank and financial sector.

They will allow almost anything they can make money on, as soon as they find better ways to exploit that with crypto I think we are set to go.