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TomUyamot
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February 12, 2018, 07:06:10 AM |
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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.
Please make everything clear. India is not saying that their citizens should not invest in Bitcoin. That is not the exact words of the Indian person on the authority. What India is saying is for their citizens to be extra careful in investing in Bitcoin and crypto. That is very understandable and I guess every country is saying that line of caution. Governments are basically not in total favor of Bitcoin because it simply is outside their control. India is in the inclination of regulating crypto, not to ban it. |
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J Gambler
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February 12, 2018, 07:12:05 AM |
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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 think its because that some governments have been fearing that habing a population that supports kore a decentralized ceyptocurrency rsther than the ones that they are using could impact how their own currency is valued. However, with these fears come highlights that at least the government now has a knowldege that this exists and with some more information drive can understand it better |
Y U MAD AT ME
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CoffeyClement
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February 12, 2018, 07:14:00 AM |
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Because bitcoin is anonymous, the government can't regulate effectively. Bitcoin is not issued by India. They cannot control bitcoin and will affect the status of fiat currencies.
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PIR
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CRYPTOBLADES Octoblades 10.10
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February 12, 2018, 07:18:41 AM |
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Because bitcoin is decentralized they cannot control it and also because there are many investor and people are becoming more aware of bitcoin usage and planning to invest in it that they're losing their possible client and they will job become paralyzed.. however bitcoin should not be feared as something scam like what other thought or suspected of it.
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Usafstar
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February 12, 2018, 07:26:39 AM |
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If you have studied the crypto market then the fear will not be around you because if you have invested in many of the altcoins and bitcoin too then the you will not fear of the crypto it is good to hold it for the future now the time is good for buying bitcoin and the use of this currency is also good for the educated people of the world. it is a golden chance for us that the bitcoin price is bearable and we can make profit with this strategy to buy for the long term.
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yossijungle
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February 12, 2018, 07:34:51 AM |
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Sometimes they have the grudge to invest here in bitcoin it is because, bitcoin is a money to invest only in online grounds. They have a fear that bitcoin will be hacked anytime. But I suggest that you should read more here in this forum and get educated.
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Pasadoble
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February 12, 2018, 07:35:00 AM |
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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 difficult for them to control crypto, they are not adapted to it, so they try to spread negative atitude towards it. |
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Pamela Jobelle
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February 12, 2018, 07:41:56 AM |
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For being decentralized the high price itself wherein people are really looking forward to learning 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. many of us are not that easy to trust especially if don't have any idea on what we are going to enter and most of all it is very difficult to trust an easy money transaction.
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V-t.Ester
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February 12, 2018, 09:55:09 AM |
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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.
Governments have fears in bitcoin because they cannot control any transaction related on it. See, that bitcoin is decentralized and no one can manipulate transaction within. Meaning once bitcoin operate in one country or government the income from any transaction within has no any return to government. The fears of government in bitcoin tax free because any transaction in digital form within is untaxable and government cannot control it. Also the possibility the used of real money will circulated in one state once bitcoin is fully implemented in one government, that's why government are not favorable in bitcoin used. It is not something to worry about if you are a professional, u just need to have patience in the field of business. Business is all about ups and downs, and if we look closely into it, this thing is teaching us a life lesson about how to react or behave when the ball is not in our court. There’s no need to worry about or to sell everything you have just because the market is down. We just need to tell ourselves can patience can do a lot of things, all we have to do is to give it a try. Government can't control transactions of cryptocurrencies but they monitor the money turnover, phone calls, sites you visit, amount of electricity you use every month etc. It was a shock when on the third day after we bought and plumbed in two miners, we received sms from one of the national banks: "We want to buy your BTC"! |
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Choyor
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February 12, 2018, 10:15:02 AM |
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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 is the first decentralized peer-to-peer payment network supported by its users without central authority or intermediaries. The lack of central authority is the main reason why governments are afraid of cryptoes. Without banks, the work is lost, as are the tax revenues earned by banks and the salaries of their employees. Money transfer business will also disappear in cyberspace. No one needs a Western Union or a competitor if everyone uses bitcoin. To understand this fear, it is important to know a little about the government and the conventional currency. |
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zais
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February 12, 2018, 10:36:23 AM |
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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 claims that "This is the first decentralized peer-to-peer payment network supported by its users without central authority or intermediaries." The lack of central authority is the main reason why governments are afraid of cryptoes. To understand this fear, it is important to know a little about the government and the conventional currency. |
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TorbiK
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Diagon
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February 12, 2018, 10:42:42 AM |
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People are always afraid of what they can not understand. Well, in the case of the government, probably this is due to the fact that the banking system can be abolished because of Bitcoin.
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konfuci
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February 12, 2018, 10:59:05 AM |
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Before in fear of using bitcoin because it don't know how to use it, but when I know how its work I don't feel fear anymore because it know bitcoin is now you can trust. Also don't feel fear if you know what your doing or you have knowledge in bitcoin.
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Petmalu001
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February 14, 2018, 01:43:55 PM |
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To answer that question, we first need to look at those high-profile pundits, who they are, what they have said — and even what they are saying now. My
first personal favorite is Peter Schiff. Taking a quote from him in a recent rant — er, I mean interview Peter was quoted as saying:
“The main benefit of bitcoin — the only segment of society where it’s used for something other than speculation — is crime,”
If that statement is not intended to be fear-mongering (and full of ignorance), I simply do not know what is. Peter has also made numerous other ridiculous
claims including this gem from his brash interview with Max Keizer “no merchants are pricing their products in bitcoin”.
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huanzhong644306
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February 14, 2018, 01:49:41 PM |
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India is afraid of bitcoin because it has no way to regulate bitcoin.
Fear of digital currency threatens their banking system.
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galkina
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February 14, 2018, 01:55:09 PM |
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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.
This is mainly because there had been similar online scams in the past. Problem is that the government is not ready to do proper research about bitcoins and analyze the past performance before making such announcements. |
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Janademir4
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February 14, 2018, 01:56:33 PM |
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government fears in some countries against bitcoin nemang have different reasons
among them they are afraid bitcoin be used as a tool of crime in the country or even afraid to be used as tool to hide corruption in the country
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doaremon
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February 14, 2018, 04:02:22 PM |
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To me I think, crypto currency is not ligal. Today we have crypto currency but who knows tommorow we won't see crypto currency. And another reason is it's virtual. So we don't have any portion in our hand. All are in the internet account. Again the Value of every crypto currency are unstable. Today it has a high value but tommorow it may be at it's lowest value...
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readygoaw
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February 16, 2018, 05:56:08 AM |
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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. |
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amzadabir
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February 16, 2018, 06:19:03 AM |
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Bitcoin is a type of currency. Bitcoin is banned in many countries. Bitaken claims that "it is the first decent peer-to-peer payment network that does not drive its users with any central authority or middlemen." The primary reasons for the lack of central authority are the fear of the cryptougans of the government. To understand this fear, it is important to know a little about the government and conventional currencies.
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