Fear of bitcoin

[projectshivom]

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.

[1714200401]

1714200401

[1714200401]

1714200401

[1714200401]

1714200401

[1714200401]

1714200401

[Kryptcoin]

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

[Hellobx]

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.

[Shu1llerr]

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

[Tambu]

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.

Bitcoin doesn’t poses danger but the market of it does.
It’s a work of a government to discredit the bitcoin to protect it economy.
Can you imagine if the population turn to bitcoin, the national currency will be affected since the bitcoin is a dollar market. And its market place is the world. You can trade wherever you are.
This a big lost of taxes anyway.

[Shu1llerr]

bad my head))) I just forgot. if specifically about India, then they have a lot of cтpaзoв about money population. if you know, it is in India a lot of cash that are not subject to taxes. a lot forged money. and I think the government of India very scared that money turnover quite will come out of their control. therefore complicate the situation in the country.

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.

[felipe04]

This is money so you can control everything if you have money you can use money to have power,i think also they banned bitcoin in their country because it's not good in their economy like in china that leave crypto this year and it's give crypto so much impact in price like it down by 20%,we know china in good to do a business so think why they leave crypto because they can't earn here in crypto that's all.

[BitcoinHodler]

because bitcoin being decentralized and out of their reach and control is ruining all of the plans that they had been running. bitcoin is giving the people an option to get out of the control of the government and the evil banking system of India and they don't want to let it happen.

and the funny thing is that the more they talk negative about bitcoin and increase their threats, the more people go and invest in bitcoin in India. if you check the price of bitcoin there you can see it is ridiculously higher. the other day it nearly reached $20,000

soon we will have bitcoin whales coming from India alone.

[zenrol28]

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 that's true, well the people still have their choice if they'll invest in bitcoin despite of the high risk involved. Since some governments still don't know how to deal with cryptocurrency, they're giving warnings regarding investment with bitcoin. Until they come up with a bill pertaining to cryptocurrency regulations.

[HasHe]

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.

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.

[lyledark10]

The fear of bitcoin is losing of it. It seems like we users of bitcoin will be sad but there's a subtitute of alternative coins. That's the fear of losing bitcoin.

[wagi]

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.

Wel, as we know bitcoin has advantages and disadvantages. It is used by government as reference to prove it dangerous and not to invest in there. The only most disadvantage that make government to do that is the high risk of investment

[zarados]

Believe me,  that governments who are afraid of bitcoin or not support cryptocurrency technology are a government that doesn't see technology as a very important thing for the country. Cryptocurrency has dozens of functions that can help the economy get better, But because there are a few shortcomings that can be used as a means of illegal acts, all those functions seem faded to them, so they only focus on the weakness.

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.

[Payapa]

Probably what they fear is because bitcoin/cryptocurrencies are decentralized, and they don't have the power to control it. Normally, the government would fear for something that is beneficial to the community, continually growing positively, and they can't control. I guess their strategy is to manipulate the people, who majority doesn't know that much about cryptocurrency, by saying that it's dangerous to them. It can be easy for them, unless someone would educate them.

[Bukx]

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.

Yes thats one of the top reason why government try harder to ban bitcoin.
Country just think from risk side of the bitcoin investment and can make their citizens loss their money.

[Finestream]

Probably what they fear is because bitcoin/cryptocurrencies are decentralized, and they don't have the power to control it. Normally, the government would fear for something that is beneficial to the community, continually growing positively, and they can't control. I guess their strategy is to manipulate the people, who majority doesn't know that much about cryptocurrency, by saying that it's dangerous to them. It can be easy for them, unless someone would educate them.

I believe so.Bitcoin can really attract an individual's heart and mind not just of its being decentralized,but the high price itself wherein people are really looking forward to learn how to earn and use bitcoin.With this,the government might fear that people will no longer patronize their own currency and start to evade taxes since bitcoin is tax-free.But that is too far to be possible because most of the establishments today still prefer to accept fiat currency than paying with bitcoin,although some shops are accepting it already.

[andthereyou]

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's not really dangerous as what the goverment thought bitcoin was. They just don't want the people to avoid tax , and they are afraid of crytomarket crash. Some people are also ignorant about investment they blame the government of the loss, they did not think the risk before investing. So to be on the safe side the government warned the public.

[jakirtanvir]

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

You got the original reason. Me also think it should be the reason. Otherwise why they’re trying to stop us?

[BrewMaster]

be careful not to confuse the warnings that the central banks and government give regarding investment in bitcoin as a fear of bitcoin. most of the countries that have issued warning have been doing it to make people think twice before investing more than they can afford to lose.
it is more like telling them to "invest responsibly".

but in case of some countries like India, the warnings and threats are because they are actually scared of bitcoin. and i think we have to be happy about it because that means we have succeeded.

[magicmeyk]

Because the government is just cautious and only wants to protect the interest of their people that bitcoin might be a big scam.