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Author Topic: For a country still illegal against bitcoin?  (Read 236 times)
Paditani
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January 18, 2018, 11:42:28 AM
 #1


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
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January 18, 2018, 11:59:51 AM
 #2


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

as in Japan the world's highest bitcoin market share. his government applied bitcoin as a real transaction tool. and in malaysia also been in practice. for countries that are still illegal against bitcoin should apply that or legalize bitcoin as a secure digital currency to invest
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January 18, 2018, 12:09:48 PM
 #3

I know so far China is against bitcoin and they are promoting only NEO Coin
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January 18, 2018, 12:09:57 PM
 #4

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
This has been discussed and told that bitcoin is illegal in some particular country because they don't want their citizen to engage in such coin that is being used to criminal activities. This is their belief since bitcoin has been used before to those activities that we can't deny but now there is another coin taking over that job that bitcoin took before. They don't understand that bitcoin is in a new level today and it's on the mainstream and is being use as store value and investment.

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January 18, 2018, 12:12:06 PM
 #5

I know so far China is against bitcoin and they are promoting only NEO Coin

China banned bitcoin because of their pride. If bitcoin was made from china then probably they will be the first to legalize the use of it. China and North Korea has the same mind set in terms of economy.
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January 18, 2018, 12:42:56 PM
 #6


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

The first thing you need to do is learn how to form a proper sentence.

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January 18, 2018, 01:25:21 PM
 #7


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

The most likely answer is because they afraid that it might use in illegal activities such as money laundering, smuggling and even drugs but this could be prevented if just they will regulate it so that it transactions could be monitor in the local exchanges. The most known country that received or legalized bitcoin is of course in Japan because that country is the birth of place of Bitcoin.

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January 20, 2018, 12:48:06 PM
 #8

In my opinion, bitcoin is prohibited in some countries in Asia because the governments of each country are not yet ready to receive progress in the field of digital money. Just like in my country, bitcoin has not been appreciated by the government. They even ban sale and purchase transactions using bitcoin in the real world. The most important reason is the unclear bitcoin of origin and the very fluctuating price is not suitable to be used as a legal means of payment.
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January 20, 2018, 08:07:37 PM
 #9


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

The first thing you need to do is learn how to form a proper sentence.
I agree on this one, its really confusing or do give a headache to its readers  Wink




In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
Not a surprising thing since we do all know that not all countries tend to accept bitcoin or deciding to adopt it because there are lots of various reasons why they wont consider such thing. Decentralized, Anonymous, Cant be Taxed, Will affect financial supply.


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January 21, 2018, 09:00:04 AM
 #10


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
It is based on the rulers of that countries,some leaders will take citizens benefit in their mind and allow bitcoin usage in their countries but some countries like China which only take care of the govenrment's income so they don't want bitcoin on their countries because bitcoin usage leads to no taxes for the governments.I think only China is totally against crypto currency but other countries are trying to implement taxes on bitcoin usages.

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January 21, 2018, 09:02:52 AM
 #11


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

because many asian goverment is to shy to act !
they confused for what a profit they can have, and still many corruption in some countries in asian
bitcoin is decentralised currency, someone who want to control it will avoid it

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January 21, 2018, 01:33:09 PM
 #12


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
It is based on the rulers of that countries,some leaders will take citizens benefit in their mind and allow bitcoin usage in their countries but some countries like China which only take care of the govenrment's income so they don't want bitcoin on their countries because bitcoin usage leads to no taxes for the governments.I think only China is totally against crypto currency but other countries are trying to implement taxes on bitcoin usages.
Its not the leadership actually but kind of government, if you are living in a democratic government were the platform is free enterprise most likely bitcoin is not illegal because the business is ownership by private entities in which the capitalization is own by private individuals and Bitcoin is considered a new business innovation and should be developed so that patrons is well protected against scam. While socialist or communist country like China is different because business is ownership by the government it would go against bitcoin because of the anonymity and decentralized nature of BTC, that would contradict government policy.

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January 22, 2018, 03:04:14 PM
 #13

Yes some country bitcoin still illegal for they country, because their government still not believe bitcoin, their government can't control bitcoin, the government afraid if bitcoin use for criminal transactions, some people can do money laundry in bitcoin. But is depend of the rules of that country, if the government allow that all, so bitcoin can legalized in that country. But for me bitcoin have negative and positive side.

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January 22, 2018, 07:39:56 PM
 #14


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

I think you are comparing it to China. Yes Asian Market is very influential and it keeps growing. S.Korea are controling their citizen but i saw some news that makes me feel confuse as they keep on manipulating they create fud news, global market are affected but it says that if it keeps dumping then the opportunity is there buy while it's hot sell when it's profit!
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January 23, 2018, 11:54:38 AM
 #15


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

as in Japan the world's highest bitcoin market share. his government applied bitcoin as a real transaction tool. and in malaysia also been in practice. for countries that are still illegal against bitcoin should apply that or legalize bitcoin as a secure digital currency to invest

We do hope also that in my country, they will implement the used of bitcoin in all transactions so that i can used this here.

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February 28, 2018, 02:03:20 PM
 #16


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

It's not totally illegal on "some" countries , and yet not implemented too but the government is still talking or debating regarding the bitcoin industry , they just wanted to spread awareness on the people who will invest on bitcoin. And I'm hoping that it would be legal and implemented , my country is philippines.

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February 28, 2018, 03:07:12 PM
 #17


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
I think the country Bangladesh and Nepal are the only countries banned the bitcoin in their countries but many Asian countries are in the legalization process so we have to wait for the respective governments to announce officially.In my knowledge there are only countries made bitcoin usage illegal in their countries.

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February 28, 2018, 03:07:48 PM
 #18


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
This is because rich people do not want all people to live well. Poor people are easier to manage. Fiat is strictly regulated by the Central Bank. All people can easily lose their savings. Get rich in this moment only the elected who are accustomed to what around them slaves.

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February 28, 2018, 04:46:46 PM
 #19


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

BTC value based on dollar and my currency are weak against dollar.

My goverment think that if bitcoin increase up to $ 100.000 , our currency will experience inflation that's why they want have a meeting with G-20 member in this March-April so they can decide the manner for bitcoin !

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February 28, 2018, 05:32:27 PM
 #20


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

BTC value based on dollar and my currency are weak against dollar.

My goverment think that if bitcoin increase up to $ 100.000 , our currency will experience inflation that's why they want have a meeting with G-20 member in this March-April so they can decide the manner for bitcoin !
What will change if bitcoin is recognized by governments? Do you think inflation will stop? No. Bitcoin is the verdict of the existing global financial system. I think that governments of countries belonging to the G20 there is no way of combating the spread of cryptocurrency. They sit on two chairs. To allow the use, they can not, but also to prohibit the use of they also can not.


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March 02, 2018, 02:29:45 PM
 #21

I know so far China is against bitcoin and they are promoting only NEO Coin

If they are promoting NEO coin as you said. What is then the point fighting and banning crypto business. This will simply mean deceit.
Because , Neo is also a crypto currency. No evidence to your statement anyway.

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March 07, 2018, 12:15:34 PM
 #22

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.

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March 07, 2018, 12:42:47 PM
 #23

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.
All coins pursue such a goal. But we must be prepared for banks to actively resist this. No one wants to lose their income. Now the entire world economy is created by banks and works to enrich the bankers. Do you think without a fight, they will pass everything that was built a few centuries? We need to be very strong to win this war. It seems to me that the community is not yet ready for this.

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March 08, 2018, 06:03:32 AM
 #24

I know so far China is against bitcoin and they are promoting only NEO Coin

If they are promoting NEO coin as you said. What is then the point fighting and banning crypto business. This will simply mean deceit.
Because , Neo is also a crypto currency. No evidence to your statement anyway.

Why? Because of greediness and security, they want they’re citizens to profit as well as the government itself and not the foreign countries. I have heard NEO coins before and I know it is a chinese made coin, but by the government of China promoting it as of the moment, I have no idea about that. I need time to research about that statement or btc.fanda should give a Link for verification.

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March 08, 2018, 07:48:11 AM
 #25


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

Because they are really afraid how disruptive this technology its.

Quote
A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry.  

http://whatis.techtarget.com/definition/disruptive-technology

So by definition, bitcoin and crypto can really change the landscape of a certain country. They think that probably it can replace their traditional system specially banking. So to put a stop on it, some countries ban it. However, there are still nation like Japan who thinks otherwise. They embrace crypto and up to now we haven't heard any negatives coming from them about the drastic effects. So its all bullshit. They just wanted to stop it because they are losing money. When people go to crypto, we eliminated banks in the middle. That's what banks is afraid of. They are losing potential profits because of cryptos.

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March 08, 2018, 08:58:47 AM
 #26

   I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.

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March 08, 2018, 09:05:57 AM
 #27

   I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.
We could not blame them, but hopefully, later on, they were realized what is useful bitcoin it is and other cryptocurrencies that they refused. Those countries are not opened minded to their community that these cryptocurrencies are really helped to growth economy problem such as unemployed people will lessen. We hope that someday they will be embraced bitcoin and to grow more of the population in bitcoin holder.

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March 09, 2018, 08:19:12 AM
 #28

  I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.
We could not blame them, but hopefully, later on, they were realized what is useful bitcoin it is and other cryptocurrencies that they refused. Those countries are not opened minded to their community that these cryptocurrencies are really helped to growth economy problem such as unemployed people will lessen. We hope that someday they will be embraced bitcoin and to grow more of the population in bitcoin holder.
  I dont think those states seriously care about unemployment and level of people's life, Bangladesh particulary is forgotten land with middle ages law. I bet authorities are able to realize how bitcoin may help sitizens, but bitcoin is threat for people in power so they would not tolerate it. Central bank and other state institutes may lose financial control over people therefore lose profit and "legal" power. They just care of themselves

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March 09, 2018, 09:34:11 PM
 #29

Actually, due to the existence of bitcoin there was many economic problems in some countries and the popularity of bitcoin develop always in every period of time, So the value of FIAT (like, euro, dollar...) has some financial problems or crisis.
In fact, the governments cannot recognize bitcoin and other cryptocurrencies because they cannot control their transactions of money, due to they are digital. But I think in the near future there will be a solution to those problems and then the majority of countries will use bitcoin as a legal currency.

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March 12, 2018, 06:10:08 AM
 #30

Well, simply, no government can control the bitcoin market, because, in this field, everything is anonymous and everything is hidden. As a result they can't neither get a percentage of the transactions as taxes nor control the money flow, that is something that all governments cannot accept !

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March 14, 2018, 09:15:01 PM
 #31


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
We do all know that each country do have different perspective when it comes to bitcoin this would really result into different prohibitions or even comes to decide on fully adopting it which isn't really a surprising thing but now we are seeing gradual increase of ban into some countries which doesn't really like the features of bitcoin that's why they decide on fully banning and prohibits it to be used by its citizens.

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March 14, 2018, 10:04:11 PM
 #32

Well, simply, no government can control the bitcoin market, because, in this field, everything is anonymous and everything is hidden. As a result they can't neither get a percentage of the transactions as taxes nor control the money flow, that is something that all governments cannot accept !

Governments can control centralized exchanges, and that's already what we have seen happen. They even managed to make Coinbase hand them over the details of 13,000 users, and they, if found guilty of tax evasion, will be facing the consequences. If you want to make sure the government can't do anything to you, then stay away from centralized exchanges, because they will snitch on you if they are being forced to do so. But even if you don't make use of centralized exchanges, legally you as a brave citizen are still obliged to pay tax, even though the government can't directly force you to do it when they don't know you hold anything or made profits.

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March 15, 2018, 06:41:27 AM
 #33

Anyhow because there are still thoughts bitcoin/kripto have a negative impact (risk) and the lack of review or learn more deeply on bitcoin/crypto related technology.. this could be the reason still illegal.
For citizens it can be profitable and very helpful, but the basis of responses from countries.. of course it's different and have many considerations especially of the risks related the all characteristics of crypto.

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March 16, 2018, 04:08:28 AM
 #34

Anyhow because there are still thoughts bitcoin/kripto have a negative impact (risk) and the lack of review or learn more deeply on bitcoin/crypto related technology.. this could be the reason still illegal.
For citizens it can be profitable and very helpful, but the basis of responses from countries.. of course it's different and have many considerations especially of the risks related the all characteristics of crypto.
It is already given, and no doubt about it that it has risk as this was not came or governed by our government, so things won't come as easy with just a blink of an eye, it will take a lot of considerations, studies, evaluations and debates in the congress and Senate before it will legal in one country.



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March 16, 2018, 11:25:03 AM
 #35

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
This has been discussed and told that bitcoin is illegal in some particular country because they don't want their citizen to engage in such coin that is being used to criminal activities. This is their belief since bitcoin has been used before to those activities that we can't deny but now there is another coin taking over that job that bitcoin took before. They don't understand that bitcoin is in a new level today and it's on the mainstream and is being use as store value and investment.
instead of not receiving bitcoin but not yet regulated, it takes time to make the regulation plus also to understand bitcoin is not as fast as turning the palm of the hand all takes time.

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March 19, 2018, 03:37:43 AM
 #36

Strict rules in a number of countries also make a lot of digital currency enthusiasts who must go to jail because they are considered against. The main reason is the fear of these countries will be the volatility and uncertainty of digital currency. In addition, as quoted from bitcoinbans.com, another reason is the fear if the digital currency is used as financing of terrorism.

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March 19, 2018, 04:53:35 PM
 #37


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

especially in my country if the government does not legalize because the government is afraid of bitcoin or cryptocurrency is done for crime and money laundering.
and the government does not want the function of paper money replaced by bitcoin.

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March 19, 2018, 05:01:52 PM
 #38

...another reason is the fear if the digital currency is used as financing of terrorism.

My country still forbid bitcoin because bitcoin still consider as risky investment that able to cause massive inflation for my currency
I heard that G-20 will do nothing for cryptocurrency because they still not consider as a threat yet so my government will do the same , at least bitcoin will not drop too much !

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March 19, 2018, 05:24:17 PM
 #39

I think the country Bangladesh and Nepal are the only countries banned the bitcoin in their countries but many Asian countries are in the legalization process so we have to wait for the respective governments to announce officially.In my knowledge there are only countries made bitcoin usage illegal in their countries.
You should include China and Vietnam too for restricting their people to bitcoin.

Decentralized, Anonymous, Cant be Taxed, Will affect financial supply.
This are the most common reasons why Bitcoin is banned in some countries. And also don't forget money laundering and funding terrorism.

But  I don't know how G20 will affect cryptocurrency value including bitcoin, as it reaches 8k again after some news regarding G20



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March 19, 2018, 07:28:20 PM
 #40


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
In my country bitcoin is only forbidden to serve as a means of payment, and the government only advises to be careful investing in bitcoin. With so many countries still fighting bitcoin I think that's natural, because bitcoin is a market that can not be controlled by the government and there are so many worries on bitcoin so then it's better they forbid bitcoin to be used. And again now more and more are against bitcoin like facebook, google, and twitter.

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March 19, 2018, 08:22:16 PM
 #41

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.
I knew Iceland was a country in which the banking system was not open to the outside. So Iceland is not as effective as the netherlands and the United Kingdom in the financial sector.



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March 20, 2018, 10:31:42 PM
 #42

This is one we hope to be changed. Their way of thinking when in comes to bitcoin and cryptocurrency. The government's main reason about this is the taxation. They dont know where and how they can tax ot because it is not just classified s an investment but also currency.

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March 21, 2018, 02:22:58 PM
 #43

Bitcoin and other cryptocurrencies remain illegal in other countries because they dont want their citizens to suffer and loss their money in the end. They also believe that there are some companies who release crypto, but they do not act in good faith. Also, due to its decentalization and pseudoanonimity, the government are afraid that it might be used on illegal activities such as scam, purchase of drugs ir deadly weapons.
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March 21, 2018, 02:36:42 PM
 #44

I think it is temporary because they may not yet see the importance of blockchain in the future. Cryptocurrency will be widely used in life and maybe they will love it in the future. I believe in the optimism of the market in the quarter 2,3,4 of this year.

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March 21, 2018, 04:49:26 PM
 #45

yes, this is often discussed, and I think everyone already knows the answer ,, I add a bit, in my opinion, using bitcoin is often used for criminal transactions, such as buying firearms, drugs, gambling, and so forth.
so the government tightened the bitcoin to be released.
But now bitcoin can be used for investment, and this can develop the human economy.
I hope the government knows that, and can free bitcoin in each country.
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March 22, 2018, 09:42:03 AM
 #46

One of the main reasons may be lost control because of decentalisation and the active usage of BTC for some illegal purposes.

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March 22, 2018, 03:12:58 PM
 #47

Crypto is providing all new opportunities to invest. People from asian countries like India, Japan, Russia and China are aggressively looking forward to invest in Bitcoin and other crypto-currencies. Some countries like Bangladesh, Nepal etc are against it. But we need to understand that they do not have much developed economy as compare to these big countries so their Ban does not make any diff. in world Crypto economy.

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March 22, 2018, 04:56:55 PM
 #48

I think it is temporary because they may not yet see the importance of blockchain in the future. Cryptocurrency will be widely used in life and maybe they will love it in the future. I believe in the optimism of the market in the quarter 2,3,4 of this year.
As far as i know there is no countries yet, that did banned bitcoin, but instead they just warned the people. Because there are some people that may take an advantage to you because of your lack of knowledge in bitcoin.

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March 24, 2018, 12:07:56 PM
 #49

Crypto is providing all new opportunities to invest. People from asian countries like India, Japan, Russia and China are aggressively looking forward to invest in Bitcoin and other crypto-currencies. Some countries like Bangladesh, Nepal etc are against it. But we need to understand that they do not have much developed economy as compare to these big countries so their Ban does not make any diff. in world Crypto economy.
I disagree with you. China is very reserved about the use of cryptocurrencies and we have seen many times how they restrict the use of cryptocurrencies. India is also recognized the bitcoin outlawed. In Russia, the same approach to cryptocurrency as in China. Only Japan supports bitcoin from your entire list.


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March 24, 2018, 06:42:27 PM
 #50

Truely ,the most of the investors from Asian country.By knowing this fact China had made the bitcoin and as illegal.Followed by South Korea had regulate the crypto currency.The reason for the regulation of bitcoin is to get some taxes from the crypto investors.Atlast,bitcoin was become  a neutral status from legal in India.

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March 25, 2018, 08:10:07 PM
 #51

Its yet to realize the benefits of bitcoin. The countries that are yet to legalize bitcoin and other cryto currencies are so behind the technology. If they understand the need of crypto and blockchain's adaption, they would develop their nations with wealth and employment. As crypto currencies are ruling the currency market, the governments have to compare the profits comes out of fiats and cryptos.

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March 26, 2018, 01:25:50 AM
 #52


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

Every country and every Government has its different views on all the things including financial views (to be on topic). There are still debates from other countries not considering Bitcoin as a financial asset, while the others embrace and recognize Bitcoin as currency. Some countries are afraid it could fund criminal activities including terrorist due its anonymity and decentralization. Plus Bitcoin and alts are nontaxable, unless if a certain country would implement such laws to put a certain percentage of tax when you're earning Bitcoin.
The reason why some countries ban cryptocurrency is its for their own security and protection.

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April 04, 2018, 01:23:09 PM
 #53


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

In Southeast Asia, investors view Bitcoin as an attractive investment opportunity. One of the Bitcoin Exchange companies located in the region is Luno
Headquartered in Singapore, Luno allows customers to buy, sell, and store digital currencies. Luno has been operating in several countries around the world including Great Britain, South Africa, and Nigeria. In Southeast Asia, Luno operates in Malaysia as one of the largest markets, as in Indonesia, where activities to invest in digital currencies have grown consistently.
unclear regulations are inhibiting Bitcoin adoption, financial institutions such as banks are worried about working with Bitcoin companies. policy makers tend to be cautious because from their point of view, the digital currency is still very new

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April 04, 2018, 04:43:22 PM
 #54


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
When it is all about money, government and some influential business men are strict not for the good reasonable thing but maybe because of thinking on how it affects their own interest.

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April 04, 2018, 05:08:27 PM
 #55

Most countries afraid of money laundering, Because they can't control and track bitcoin transaction as compare to general banking system.
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April 04, 2018, 07:13:36 PM
 #56


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
When it is all about money, government and some influential business men are strict not for the good reasonable thing but maybe because of thinking on how it affects their own interest.
Because most people from Asian countries are afraid making illegal activities in bitcoin and as what their government see it has a great impact on the economic growth so they embrace bitcoin instead of banning it.
Meanwhile, in the big countries like the USA, they think there are many rich people who can afford to make an illegal transaction or hiding their poverty through bitcoin so they are strict on it.
And that was my opinion.

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April 05, 2018, 03:00:09 PM
 #57

so far for now china is the country who dont want bitcoin absorb thier country. they banned bitcoin because they dont want some people use bitcoin for illegal transaction. and besides china is one of the wealthy country so china government think that bitcoin is not needed to grow thier economy.

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April 05, 2018, 03:48:57 PM
 #58

so far for now china is the country who dont want bitcoin absorb thier country. they banned bitcoin because they dont want some people use bitcoin for illegal transaction. and besides china is one of the wealthy country so china government think that bitcoin is not needed to grow thier economy.
China is not a rich country. There are a lot of poor people in China. This is especially true of the villagers. There can be said poverty. China has very poor social security. They save not everyone. I think the Chinese government is afraid that money will leave the country through ICO and cryptocurrencies. This could very quickly lead to the collapse of the economy.


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April 06, 2018, 12:47:45 PM
 #59


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

You have to understand the factors on why bitcoin is illegal to most Asian/Western countries in order to derive the answer to your question. To shed you some knowledge, here some of the reasons on why I think bitcoin is prohibited:

  • Due to its decentralised nature, the lack of any government regulation makes it a threat to the community especially the existence of ICOs that may take advantage of the people;
  • Its highly-volatile nature makes it skeptical to some investors as it results to some ponzi scams made by sketchy companies;
  • The lack of collateral/security makes it a 'high-risk, high-reward' system; and
  • The government's purpose is to protect its people and the country. Anything that may potentially infringe the security of the people in terms on its transactions would lead to the government exhausting administrative means for their protection














 

 

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April 06, 2018, 01:19:29 PM
 #60


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?
You answer your own question. In these countries, bitcoin is an income for the elite. Why would they make it available to everyone? Rich people have the opportunity to be rich only because they are in unequal conditions compared to everyone else. Only poor people can be forced to work for food.

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April 06, 2018, 02:15:41 PM
 #61


In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

At first i didn't understand what you were saying . You really need to learn the language properly .
Anyways , governments are always reluctant to bitcoin and other digital currencies because they fear the take over of such currencies on their fiat currency . Moreover , they are scared to be the part of something they don not know how to control . Governments all over the world have always been scared of such independent entities.

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