Fear of bitcoin

[Soots]

Fear of bitcoin, fear of bitcoin returns to ourselves, because bitcoin prices are always changing all the time, if we can not guess the future price of bitcoin will all be detrimental to ourselves, and it can also benefit us.

You have a point mate, each of us have our own thoughts and reason to fear of bitcoin. On my opinion, I fear on bitcoin if it will banned on our country and might all my effort will gone due on that possible band, well so far their is nothing to worry since it is still functional all transactions involve about bitcoin. Also, the time during downfall which I have some shares that I hold as I believe it will increase soon in the future.

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[compak_comunity]

Perhaps the government is worried if the country's currency can be replaced with this digital currency So to anticipate the problem the government as soon as possible to make a new regulation concerning bitcoin.

[TheManofBTCs1]

Govt is eventually afraid of losing their secured income from taxation of centralised currencies XD

[RebelSnake]

Just cause that is not profitable for government, I think. Invest in crypto currencies is harmful to the banking system, in some extent.

[senin]

I think this is because of the last sharp rise of bitcoin in the price to 20 000 dollars. Then bitcoin grew purely on speculative speculative demand for him and he grew up because of this and showed himself as an ordinary financial bubble. Therefore, such a cautious attitude towards bitcoin from the government of India is a consequence of the December price growth of bitcoin. The Government of India is trying to warn its citizens against the risky investments of their means. One can imagine the reaction of some states if bitcoin rises to about $ 40,000 by the end of the year.

[Nurma.A]

it could be the government of India wants its people not to be deceived. because if the people do not have knowledge about bitcoin, feared the people will loss when investing in bitcoin. therefore, the Indian government forbids and informs that investing in bitcoin is risky.

[Sheogorathdaddy]

Goverments always fear what they can't control. They have to adjust to the change, not resist it.

[qwertyup23]

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.

There are a lot of factors to consider when accepting bitcoin in a country. Due to its decentralised and volatile nature, government intervention and imposition of tax is impossible as it cannot be regulated. The blockchain technology is so complex and technical that even the government cannot track-down transactions. Now, bitcoin has been used by criminals as a gateway under the dark web for illegal transactions of drugs, etc.
Not to mention, some banks see bitcoin as something that is dangerous to invest-on due to its 'high-risk, high-reward' factor.

Just cause that is not profitable for government, I think. Invest in crypto currencies is harmful to the banking system, in some extent.

It may be harmful but the positive implications it provide outweighs the negative ones IMO. As cryptocurrencies may be decentralised and have some lack of collateral, I see it as an opportunity to invest and earn long-term profit as compared to the other types of investment.

[Timok Abiodun]

Bitcoin has significant upside that the govt dont want. BTC and precious metals both offer alternatives to government monopolized fiat currency. They play a similar role as free market, sound money. But as with any financial instrument, there are potential pitfalls. Diversifying your cryptocurrency portfolio with precious metals can help mitigate some of the potential downside and put you in an overall stronger financial position.

[mast3rm1nd]

bitcoin tried to combat banks and the banking system by keeping everything decentralized, government is corrupt by banking system and there for it fights bitcoin.  

[simpleholmes]

because lots of investors in crypto world are uneducated fellas and the majority are very vulnerable to lose money and shift it to whales and experienced traders.

[mrcash02]

bitcoin tried to combat banks and the banking system by keeping everything decentralized, government is corrupt by banking system and there for it fights bitcoin.  

Banks + governments = mafious organizations. They only worry about their personal results. Governments are temporary and they know without results (at least theorical results on the spreadsheet) they won't survive on the political environment for much time. They want people depending on them to survive and Bitcoin gives the opposite to people, their independence.

Banks and assistentialism become worthless with Bitcoin, so they are too worry to become worthless on their countries and to lose all the benefits they have controlling the nations. They fear the superior caste doesn't exist anymore...

[micher143]

because each government shave two things. the first - the absence of opportunities to regulate money turnover. this is a problem for the state, money Institute of one of the most important for the formation of cash relationships within the state. the second - fear the use of technology blockchain. this is a real danger, because many things in the state will be without fraud. possibility of corruption - is that what are in the power of

That is the reality on the system of government most of the countries have. Some of the corrupt leaders want to handle Bitcoin or to even manage it's transaction from them to have a partial money on it where they could earn in each transaction of the Bitcoin users have. So power is really a relentless thing to have and to control.

[fishball]

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.

They are terrified because bitcoin has really a high chance of ruling the currencies around the world since a lot of people now are into it.

[First77]

because lots of investors in crypto world are uneducated fellas and the majority are very vulnerable to lose money and shift it to whales and experienced traders.

Bitcoin $9,500 and Gold $1350/ounce. People are not that stupid/idiots.

[silent17]

because each government shave two things. the first - the absence of opportunities to regulate money turnover. this is a problem for the state, money Institute of one of the most important for the formation of cash relationships within the state. the second - fear the use of technology blockchain. this is a real danger, because many things in the state will be without fraud. possibility of corruption - is that what are in the power of

That is the reality on the system of government most of the countries have. Some of the corrupt leaders want to handle Bitcoin or to even manage it's transaction from them to have a partial money on it where they could earn in each transaction of the Bitcoin users have. So power is really a relentless thing to have and to control.

If they wanted to be apart or to handle the Bitcoin, why do they organize or create their own mining, So that they will gain some part of the bitcoin they are worried about.

[khemajayo]

Its a normal warning formally given by any government about new economic schemes or currencies.Bitcoin is decentralized too and pseudo anonymous.So,we could easily understand government's concern over allowing such new currencies.it is volatile too.They have the duty to protect every citizen from any scams.

Unlike the government that supports it, they are a government that deserves thumbs up for thinking ahead. And it is evident, that they will advance ahead of the others.

[Aryanto28]

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.

probably because the unofficial bitcoin as a legal means of payment so that the government is worried it will be made as a crime in the country. and the government may also appeal to investors who invest in bitcoin so as not to overdo it because bitcoin prices are not stable and are worried about losses. but actually it is a self-choice to invest in bitcoin means to be ready to win whatever happens.

[sanjay6121]

there are many news about the bitcoin some are positive and some are negative. main reason is lack of knowledge. people are not aware about the investment benefits they will get by trading in bitcoin. instead of banning countries must run awareness campaign for proper guidance for bitcoin.

[LifeSunder]

The government is afraid anonymity of the crypto currency due to the fact that fraudsters use it.