Fear of bitcoin

[lusiaga]

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.

because bitcoin can kill bank economy or in worst case bitcoin also have a chance to kill world bank economy.
thats why many company using bank hate and said bitcoin is dangerous.

[AicecreaME]

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.

There are so many ways on how you could earn bitcoin, Investing, Trading, claiming it on Faucets, and so on, but there are also ways of earning it through those Ponzi scams out there which we thought legit in the first place, that is why if there are people who get scammed by this kind of schemes, they will post it on social media blaming that bitcoin is a scam.

So, what is going to happen next is the Government will come up to a conclusion that bitcoin is a scam and risky so we have to be aware, like WHAAAT?! I'm just laughing whenever I read articles or hearing news about this nonsense.

[malvinlee]

Because they bitcoin is more good than the bank and other business and they afraid many people will more believe to btc than bank or other business

[audaciousbeing]

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.

The reason for that is not far fetched and its basically things that have a subject of discussion several times in the past but what surprises me is that the Indian government could go to the extent of now issuing a notification to that effect to me shows some level of desperation and a cheap way to go.

It would still made some sense if there is some argument but the bone of contention that government is grappling over is just that they don't have a way to get their own cut in area of taxes and also the disruption of the social order that they wish to jealously maintained in other to continue their dominance over the populace.

[Bourbon44]

The government holds the best interest of its people and at the same time if you look at governments like the US, they are heavily influenced by the big banks. At the end of the day banks and financial institutions are scared so they get everyone else like that too so they dismiss btc.

[Baronggot]

Simply because they don't want people to invest in bitcoin just like what they did before when they can only bought bitcoin at a very cheap price which leaves them in disbelief about bitcoin's success today.

[cryptorusin]

Bitcoin is in a bonafide official downturn, the first serious one of it's existence. Bitcoin has been rising since Sept 2016, 15 consecutive months, from $611 USD, to $19,891 USD over that time span, an unbelievable feat. At some point, a serious downturn had to happen, and so it is upon us. The Monthly W% is at -39.71. This is the lowest it's been since Jan, 2016, so you can see the level of impact

The Daily W% is at -83.24 getting ever so close to the -90's, if reached would put Bitcoin in the cellar. That would be a first. The Parabolic remains a BUY, which I think is crazy, but it is. This downturn is warranted. Price cannot continue upward month after month, the process doesn't work that way. Yes we've had a few retracements, but they were all short lived. Based on the indicators, this may last for a longer period of time than we are accustomed too. Bitcoin Investors have been spoiled with financial success.

Bitcoin can fall back on the strength of its Monthly time frame. The Bands are Diverging and MACD is rising. This downturn will be its first serious challenge, and the key Indicator at this point is its W%. How low will it go. I'll keep you informed.

[Prem.Soorajpaul]

Everyone knows, it is not regularize currency. Govt. knows if unfortunately something goes wrong, they will not be able to do anything for their people. They are just trying to be a safer site form their voters. No need to wary those are holding bitcoins.

[rushel22]

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.

Because there are some people who are using bitcoin illegaly and they are afraid that it will also happen in their country.  So what they did is they will not accept bitcoin so they can keep their country safe from terrorism. But bitcoin is just a cryptocurrency.  Anyone can use it whether for good or for bad purpose.

[adjudicator]

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.

I dont know why, but I think government are the one who afraid to bitcoin because if the society picked bitcoin than the fiat money, the government will not get a money came from the tax in the goods and any services etc.

[Reesefrias]

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.

People worldwide nowadays don't know what's the good stuff and deals about bitcoin, they will crash bitcoin because they don't have this, they're to late already to invest beacuse it's already high profit.

[coinoberg]

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.

because bitcoin can kill bank economy or in worst case bitcoin also have a chance to kill world bank economy.
thats why many company using bank hate and said bitcoin is dangerous.

Very well said. Especially banks are feeling threatened by bitcoin and generally crypto currency market actually. banks are centralized and blockchain is born against them as a decentralized solution. because of their fears they are using media to fight against us.

[Shu1llerr]

Listen, I think you're wrong. fraud with digital currencies and government attempts to begin regulation of cryptocurrency are in no way connected. these are two separate directions about which you need to speak separately, otherwise everything is shifted into a heap and then you will not be able to make out who had in mind what circumstances. India regulates cryptocurrency for the ability to influence money, this is the only reason they have claimed on tv

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.

There are so many ways on how you could earn bitcoin, Investing, Trading, claiming it on Faucets, and so on, but there are also ways of earning it through those Ponzi scams out there which we thought legit in the first place, that is why if there are people who get scammed by this kind of schemes, they will post it on social media blaming that bitcoin is a scam.

So, what is going to happen next is the Government will come up to a conclusion that bitcoin is a scam and risky so we have to be aware, like WHAAAT?! I'm just laughing whenever I read articles or hearing news about this nonsense.

[khaled0111]

Governments usually don't accept cryptocrrency because it damages their financial system.
They can't control transactions so if someone starts selling prodcts and uses cryptocrrency for payments, he will make a fortune without paying any taxes.
Besides, criminals can use Bitcoin to fund their illigal activities.
Legislations are not enough to control Bitcoin and poor countries don't have the necessary technologies to track suspicious activities.

[lagista]

Fear of bitcoin will only make you can not see the world of cryptocurrency full of huge profit. you should try to learn to understand bitcoin and do work with bitcoin.
you can ask someone who was first in bitcoin so that fear can disappear and be changed into a big money.

[MrJake]

The government is afraid  of bitcocin since they have little control over it. Since BTC is designed to be self regulating with minimal control mechanisms and unknown total control, the government thinks that it is a threat.

[kuyaJ]

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.

Government cannot control bitcoin so they have a power in community to dont use bitcoin. Bitcoin was not recommend by other country because some investors, invest in bitcoin.  Bitcoin doesnt have any taxes to paid some country thats why it is not good for country.

These are some reason why some country banned bitcoin.

• Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement
• of a lack of existing laws
• in the buying and selling of scrap metal and “waste products”. This sets a bad precedent of government interference for the future, but so far the ban is restricted to this industry by all accounts.
• Purchasing them may violate the Icelandic Foreign Exchange Act, which specifies that Icelandic currency cannot leave the country. A nebulous designation, but it sounds like it is banned, in effect.
• It is a common misconception that bitcoin and digital currency are totally banned and illegal in China, but China has become the world’s largest bitcoin trading market. The bitcoin ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government. Banking institutions and employees are banned from engaging in bitcoin business through banking, as well as servicing or doing business with the bitcoin industry. Trading or mining in bitcoin is not illegal for common citizens.
• It is illegal to use any currency that is not issued and controlled by a government or an authorized entity.
• bitcoin’s lack of “a central payment system” which could lead to people being “financially harmed”. It invoked the provisions of the Foreign Currency Control Act of 1947 and the Money Laundering Control Act of 2012. Then, added that trading in bitcoin

https://www.ccn.com/top-10-countries-bitcoin-banned/

[onpages]

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.

all governments of every country will surely protect their citizens from all sorts of harm (threats). as well as the threat of bitcoin. perhaps the government's intent is that they fear if citizens are too cool with bitcoin but do not think about the high risks of bitcoin. for example that bitcoin prices are very volatile and sometimes fall. so the government is afraid of it.

[boyshx]

The way bitcoin was rising from $1000 to $19600 and now again rolling back to $12000, this whole journey is surprising, unexpected. No currency in history was so volatile. Bitcoin is a decentralised currency backed or regulated by no authority. So fear and uncertainty is always their n the minds of many. Many economic experts call it a bubble or hoax. Some term it as an internet fraud. Rising price and peer to peer exchange quality making bitcoin popular among illegal activists. That is why many countries have banned bitcoins operations in their economy. Countries where bitcoin is accepted as legal currency are also planning to regulate the same. So fear about bitcoin will always be there.

[Caraphernalia]

Bitcoin is very useful for everyone specially in supporting financially but for some reasons there are still people who is having a fear of bitcoins. The reason for this is that they are having fear of investing their own money through bitcoin and also that they don't trust the people they are interacting in the internet. Some people are just having fear because they think that bitcoin is illegal and they are afraid to make a crime.