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Author Topic: REASON BEHIND SETBACKS IN THE ACCEPTANCE OF BITCOINS IN SOME COUNTRIES  (Read 218 times)
Prinox2
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November 19, 2017, 04:51:06 PM
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The presence and failure of Ponzi schemes in most countries like Nigeria, Ghana, South Africa and some Asian countries too, has contributed a great deal in discouraging the government of these countries from accepting the usefulness of bitcoin. this because most of the ponzi schemes used bitcoins as means of pledging and receiving helps. but irony of the whole thing is the same government seems not to have realized that Physical cash was also used for local ponzi donations and why have they not placed a ban on the physical cash just like bitcoin.....

Please what's bitcoin community doing to correct this wrong impression so that bitcoin can be globally accepted by all? 
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iamTom123
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November 19, 2017, 09:29:52 PM
 #2

The presence and failure of Ponzi schemes in most countries like Nigeria, Ghana, South Africa and some Asian countries too, has contributed a great deal in discouraging the government of these countries from accepting the usefulness of bitcoin. this because most of the ponzi schemes used bitcoins as means of pledging and receiving helps. but irony of the whole thing is the same government seems not to have realized that Physical cash was also used for local ponzi donations and why have they not placed a ban on the physical cash just like bitcoin. Please what's bitcoin community doing to correct this wrong impression so that bitcoin can be globally accepted by all? 

I am sure that ponzi schemes which are now using Bitcoin may have contributed to the wrong perceptions many of those in the governments may have on Bitcoin. And certainly they should realize that Bitcoin is actually a currency just like the US Dollar and anybody -- scam artists and good people -- can use for their own business or programs. However, I think the main problem is that lack of interest to research and know more how Bitcoin can bring on economic benefits which many poor countries can avail for their citizens. These countries must study on how Japan is now the leading country for Bitcoin and how despite being already rich it accepted Bitcoin with open arms. Next year, we should be expecting some more countries to openly accept Bitcoin and for those who refused to do so then maybe it is not the right time yet.
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November 19, 2017, 10:01:42 PM
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The presence and failure of Ponzi schemes in most countries like Nigeria, Ghana, South Africa and some Asian countries too, has contributed a great deal in discouraging the government of these countries from accepting the usefulness of bitcoin. this because most of the ponzi schemes used bitcoins as means of pledging and receiving helps. but irony of the whole thing is the same government seems not to have realized that Physical cash was also used for local ponzi donations and why have they not placed a ban on the physical cash just like bitcoin.....

Please what's bitcoin community doing to correct this wrong impression so that bitcoin can be globally accepted by all? 

This is just an excuse for the government not to accept bitcoin. And I agree, many criminals took advantage of what bitcoin can offer and then mainstream media put it to the next level. But I believed that the main reason why government doesn't accept bitcoin is that they can't really control it, the flow of money is huge, just look at the total marketcap today. Every government around the world want to put some taxes on bitcoin and cryptos because there is money in the system. They can't control and the effects of it in their economy. They are afraid that crypto's would took over their banking system, as a result they completely shunned bitcoin on the other side.

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MickeyT2008
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November 19, 2017, 10:23:20 PM
 #4

That is not an excuse to not accept bitcoin in there, everybody in here and in all the forums all around the internet consider those countries as the most dangerous from all the internet world.
Just think about it, everytime that you see a nigerian guy, or a south africa guy trying to sell something shady, it is obviously that he wants to scam.
And this reputation is not because i am xenofobic, they built that trust during this last few years creating huge chains of scam all around the world.
It would not impress me to see that those governments are not going to legalize bitcoin in there, at least not for now.

This account has recently been hacked and taken over, I haven't posted anything for about two years.  Whoever has been using it and pretending to be me is a scammer.
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November 19, 2017, 11:43:38 PM
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This is just an excuse for the government not to accept bitcoin. And I agree, many criminals took advantage of what bitcoin can offer and then mainstream media put it to the next level.
I do agree with that a lot of criminals and scammers are taking advantage of bitcoin but everyone could control it if they already what is it. A ponzi scheme can be recognize as an 'easy money' through investing via sending your bitcoin/cash to them then waiting for the return to make it double. People should know that there's no easy money in real world and those who think about of easy money will find themselves in prison.

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November 20, 2017, 03:05:53 AM
 #6

The presence and failure of Ponzi schemes in most countries like Nigeria, Ghana, South Africa and some Asian countries too, has contributed a great deal in discouraging the government of these countries from accepting the usefulness of bitcoin. this because most of the ponzi schemes used bitcoins as means of pledging and receiving helps. but irony of the whole thing is the same government seems not to have realized that Physical cash was also used for local ponzi donations and why have they not placed a ban on the physical cash just like bitcoin.....

Please what's bitcoin community doing to correct this wrong impression so that bitcoin can be globally accepted by all? 

Do you have a source for the bolded sentence? I've never heard of a ponzi scheme that ran on Bitcoins -- rather, critics are saying that Bitcoin is a large ponzi scheme in and by itself. These people are misguided, of course, and likely has no idea what a true ponzi scheme is.

Bitcoin is an easy target for regulators because few people have actual working knowledge of them. They only have to say it's a scam, and people who have never even heard of it will believe them. Like cash, Bitcoin is only as law abiding as its user, but for some reason, people would rather turn a blind eye on that fact. The only way we can really help its reputation is to be law abiding citizens. Let people know that Bitcoin isn't always used in crime, and can actually be used to solve real world problems.

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November 20, 2017, 03:34:51 AM
 #7

I cannot understand the statement that you said that Goverments discourages because of failed ponzi scam on their country? I tjink that is wrong to sau that Government also ses Bitcoin as a Ponzi Scam?,Apparently, it is the Government who is lacking on the time researching,studying and understanding the whole Bitcoin and cryptocurrency thing.

Community already doing our best to coninuously support Bitcoin and other altcoins which means that we are doing our parts to keep potctinf, supporting and defending Bitcoin.
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