Fear of bitcoin

[Gladz29]

They fear bitcoin because it is a threat to the banking system. BTW, Bitcoin is not for the feint of heart.

My fear about bitcoin it suddenly stop,  vanished or nothing.  Because we all love bitcoins.  So its important to us. So if bitcoin will disappear more of us will became useless.

[1714723269]

1714723269

[f150]

what are you afraid of? indeed in some countries prohibit bitcoin in different ways. so also in the country where I live also prohibit bitcoin as a means of buying and selling transactions, but I can still use bitcoin by converting it into paper money first.

[bitcoinFPT]

The Govement can not control bitcoin, can not receive taxes from bitcoin so they fear of bitcoin. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin. Therefor you are have money, you have enough knowlege about bitcoin I think you will decide you should or should not invest to bitcoin. If you fear you are hard to become richer

[klebsiella]

The fact that the government cannot control bitcoin bothers them. They are able to figure out how to tax bitcoin, the transactions and the profits made from them because taxation is the principal source of the states revenue. Due to its anonymity, the government fears that it might be use for money laundering and other criminal activities.

[fattyforhire]

Bitcoin is a direct threat to the local currency. The government can only control their money, but with the control of bitcoin, they will have problems. Therefore, they are trying their best to stop bitcoin on their territory.

[Theyasirahmad]

most of the countries are not supporting bitcoin because it is removing third party in money transactions (BANKS) and the owners of these banks are powerful personalities, so if you will try to end someone's business he will definitely try to do same to your's

[MI6]

Because they think it's a ponzi scheme, or that it might affect their country's economic development, many countries have banned bitcoin trading, but it's a silly idea.

I hear for the first time that the government considers bitcoin as a ponzi scheme. The government is afraid anonymity of the crypto currency due to the fact that fraudsters use it.

in my country maybe yes, government always said bitcoin is illegal investation, maybe because ponzi scheme very popular in here and it already reach a lot of people who actually don't know about crypto itself

[rtm125]

Unfortunately, every state seeks to obtain as much as possible taxes from every citizen of the country, especially if he receives large incomes. A bitcoin sent quite the contrary, full decentralization. And it turns out such a conflict between bitcoin and the state.

[Gabb]

Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.

It is natural for this to happen, and we should not be too surprised. Central governments would be the first affected in case of a massive acceptance of bitcoin as currency and payment system, due to the large amount of resources that would stop receiving through taxes, and that is why many conservative governments are seriously concerned about the growing popularity of cryptocurrencies, although this does not seem to be the case in countries with much greater openness in technological matters.

[European Central Bank]

Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.

if people took off their bitcoin blinkers for a second they would realise that most of the messages coming out of central banks are factual and sensible.


https://www.businesstoday.in/current/economy-politics/bitcoin-rbi-alert-reserve-bank-warning-cryptocurrencies-virtual-currency/story/265386.html

"The RBI says that virtual currency being in digital form are stored in digital-electronic media that are called electronic wallets. Therefore, they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack etc. Since they are not created by or traded through any authorised central registry or agency, the loss of the e-wallet could result in the permanent loss of the VCs held in them.

Payments by virtual currency take place on a peer-to-peer basis without an authorised central agency which regulates such payments. As such, there is no established framework for recourse to customer problems/disputes/charge backs.

There is no underlying or backing of any asset for virtual currency. As such, their value seems to be a matter of speculation. Huge volatility in the value of such currency -in this case bitcoin-has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value.
So far, cryptocurrencies are being traded on exchange platforms set up in various jurisdictions whose legal status is also unclear. Hence, the traders of virtual currency on such platforms are exposed to legal as well as financial risks.

It has been reported that usage of digital currencies are largely for illicit and illegal activities. The absence of information of counter-parties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism laws."


all of the above is completely, totally true.

there is no protection if it goes to zero. no one is in control of it. no one can tell you if it's gonna be worth anything tomorrow. that can't be denied.

people are coming from banking systems that are in theory going to protect your money. bitcoin will not.

end of.

[Washball]

It's not the fear of bitcoin, why some countries are banning cryptocurrencies. These governments want to prevent criminal activities like money laundering and want to keep control on all financial aspects. As cryptocurrencies are decentralized, they're afraid they have no control of what's happening in this space.

[Dico88]

There are many aspects such as tax evasion, money laundering or irregular price valuation and so on. Governments that want to monitor the income or assets of their citizens and other crypto currencies that can not provide transparency to them.

[coinlawyer]

Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.

if people took off their bitcoin blinkers for a second they would realise that most of the messages coming out of central banks are factual and sensible.


https://www.businesstoday.in/current/economy-politics/bitcoin-rbi-alert-reserve-bank-warning-cryptocurrencies-virtual-currency/story/265386.html

"The RBI says that virtual currency being in digital form are stored in digital-electronic media that are called electronic wallets. Therefore, they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack etc. Since they are not created by or traded through any authorised central registry or agency, the loss of the e-wallet could result in the permanent loss of the VCs held in them.

Payments by virtual currency take place on a peer-to-peer basis without an authorised central agency which regulates such payments. As such, there is no established framework for recourse to customer problems/disputes/charge backs.

There is no underlying or backing of any asset for virtual currency. As such, their value seems to be a matter of speculation. Huge volatility in the value of such currency -in this case bitcoin-has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value.
So far, cryptocurrencies are being traded on exchange platforms set up in various jurisdictions whose legal status is also unclear. Hence, the traders of virtual currency on such platforms are exposed to legal as well as financial risks.

It has been reported that usage of digital currencies are largely for illicit and illegal activities. The absence of information of counter-parties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism laws."


all of the above is completely, totally true.

there is no protection if it goes to zero. no one is in control of it. no one can tell you if it's gonna be worth anything tomorrow. that can't be denied.

people are coming from banking systems that are in theory going to protect your money. bitcoin will not.

end of.

If You tell me where I can invest without risks I`ll be very thankful  to  You! And please tipe some proofs, maybe articles, about this)

[vicvicto17]

I don't fear bitcoin if i do then probably i'm not here in this forum, I'm wat too busy on cryptocurrency than any other things in life. My parents wants me to stop investing in bitcoin and working for some campaigns. Soon i am able to get what i want in life with bitcoin.

[gilabusuk1]

they just do not want people to keep their owned assets dibitcoin that they can not take taxes from it so they do spread the ban on investing to bitcoin but of course people are already thinking about it

[katanaki]

Get free 450000 MTC when you join the Marinecoin community forum and fill out this information as required by the gift program manager.
https://marineco.in
Join Free ICO !!!!
The F1 trading platform is where you can trade MTCs. The F1 trading platform will become a major trading platform in the future.

[demoltion]

is basically not afraid of bitcoin but people are more likely to be afraid of the government, on the grounds of frozen banking but if the government understands bitcoin it will not happen.

[christina30]

Why are some governments so keen to prove that bitcoin is dangerous. Recently, the Indian government sent notifications to the citizens that they should not invest in bitcoin.

Maybe they scared that people bot work in a private store or company. Because bitcoin got big profit than working private conpany or store. And i think other country didnt other stand bitcoin on how they earn.

[selectaselectine]

There are some scams that associates bitcoin with them, these scams actually make it look like bitcoin is also a scam. I guess the government is being cautious because ofcourse it can affect the economy be it good or bad. But as a user, we also need to know how things work before taking risks.

[_Mikasa_]

Because countless people are being scammed using the name of bitcoin and many misconception are spreading about bitcoin which is a pretty good reason to br feared about bitcoin. People need to have knowledge about bitcoin and ehat are the benefits of bitcoin that can be vital in our lives.