Should apply basic rule in crypto currency market?

[QN2018]

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering. Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge. Third, virtual currency values fluctuate continuously, so the investment risk is so high. Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.
Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

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[aleksej996]

It is just propaganda.

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering.

What do you think criminals use more, cash or Bitcoin? Bitcoin is pseudo-anonymous, cash is completely anonymous.

Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge.

Most money is held in banks these days. Banks get hacked all the time. It is a lot easier to hack a centralized bank than decentralized currency. Bitcoin is a lot more secure than other digital forms of money, like PayPal, banks, credit cards...

Third, virtual currency values fluctuate continuously, so the investment risk is so high.

Fiat doesn't fluctuate, it only steadily decreases in value due to inflation.
These are still the early days for Bitcoin, it is obviously still not the optimal currency, as adoption needs to grow so you can actually buy stuff with it.
When the adoption gets big enough and a big portion of population starts using it, the price will stabilize.
Supply is very predictable and stable, it is demand that fluctuates, but when demand stabilizes, as everyone who wants to use it, acquires it, then the price will stabilize as well.

Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.

This is exactly why it is so popular and why it exists in the first place. Who do you trust more, mathematics that Bitcoin is based on or politicians?
People don't trust politicians anymore, they trust technology, this is why Bitcoin is what it is today and what it will be in the future.

Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

And this is exactly why they are spreading this propaganda. Safety is bigger with Bitcoin, this is obvious to everyone who knows how it works, it is the tax part that governments really want. They are like one big mafia, they don't like competition. How they earn money here is racketeering, you pay them protection money and they don't bother you.

[bit-freedom]

Money laundering started in fiat, I don’t understand why fiat is not banned. I feel that the governments are not able to control crypto currencies like fiat, hence some countries don’t allow it.

[trecore4]

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering. Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge. Third, virtual currency values fluctuate continuously, so the investment risk is so high. Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.
Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

Thats because we have the banks that work on the basis of swift technology, a very very secured tech and centralised one while you know the rest about the blockchain. How many cases do we see when the swift trisection was hacked recently? May be next to zero. While for the blockchain there is always news about the different exchanger hacks and all the stuff and that money might be going into black market. So we are not sure whose wrong and whose right here.

 

Money laundering started in fiat, I don’t understand why fiat is not banned. I feel that the governments are not able to control crypto currencies like fiat, hence some countries don’t allow it.

This might be true or there could some different agenda in front of the government. May be they are not in the position to handle extra load! 

[Nick Abimanyu]

What you say is true, according to the facts.
Everything goes back to the government itself, how they handle it.

If the government assumes (many criminals used virtual currency as a tool for money laundering) this charge is a big mistake. In fact, fiat money is the most widely used as a tool for money laundering. With such accusations, we can judge that they are incapable of controlling fiat money.

If they can`t afford control the fiat money, there is no way they can control the crypto.

[Maxson]

The rules should not apply to crypto currency, that doesn’t mean they can’t or don’t, that only means,from what I can tell, there is no reason to assume they do (it doesn’t imply this in the regulations from what I can tell and there is no document suggesting that they would apply.

[player514]

It is just propaganda.

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering.

What do you think criminals use more, cash or Bitcoin? Bitcoin is pseudo-anonymous, cash is completely anonymous.

Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge.

Most money is held in banks these days. Banks get hacked all the time. It is a lot easier to hack a centralized bank than decentralized currency. Bitcoin is a lot more secure than other digital forms of money, like PayPal, banks, credit cards...

Third, virtual currency values fluctuate continuously, so the investment risk is so high.

Fiat doesn't fluctuate, it only steadily decreases in value due to inflation.
These are still the early days for Bitcoin, it is obviously still not the optimal currency, as adoption needs to grow so you can actually buy stuff with it.
When the adoption gets big enough and a big portion of population starts using it, the price will stabilize.
Supply is very predictable and stable, it is demand that fluctuates, but when demand stabilizes, as everyone who wants to use it, acquires it, then the price will stabilize as well.

Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.

This is exactly why it is so popular and why it exists in the first place. Who do you trust more, mathematics that Bitcoin is based on or politicians?
People don't trust politicians anymore, they trust technology, this is why Bitcoin is what it is today and what it will be in the future.

Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

And this is exactly why they are spreading this propaganda. Safety is bigger with Bitcoin, this is obvious to everyone who knows how it works, it is the tax part that governments really want. They are like one big mafia, they don't like competition. How they earn money here is racketeering, you pay them protection money and they don't bother you.

I think you're looking at bitcoin in just about the most optimistic light you can. There's nothing wrong with that, but I think most people acknowledge that there are some pitfalls to btc.

1) Regardless of what criminals use, the ideal scenario is to not have any criminals at all. It's been known that ISIS and some terrorist groups use bitcoin to transact as it keeps them safe. If you want to see crypto in the future, it's likely that you'll see criminals use it too.

2) OP was talking about how everything is electronic for cryptocurrency. He means that if new exchanges pop up every now and then, it's possible that those can be hacked and the money within those exchanges can be taken. Even though bitcoin is a centralized currency, there's still a solid amount of people who keep their money in exchanges, which they shouldn't.

3) Moreso than paying governments to stay out of your crypto deals, I think it just makes sense that they would want taxes if the people aren't using fiat. How is the government going to fund itself otherwise?

[rockyfeller]

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering. Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge. Third, virtual currency values fluctuate continuously, so the investment risk is so high. Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.
Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

I love the volatility that's why we are here for profit and learn the circulation of cryptocurrency, One reason why governments should regulate it or tax it because you can earn alot of money, a bunch money! but they restrict it from withdrawals.

Money laundering started in fiat, I don’t understand why fiat is not banned. I feel that the governments are not able to control crypto currencies like fiat, hence some countries don’t allow it.

Yes, Money Laudering started in Fiat and governments are controlling it! they don't allow citizens to have bunch amount of money to withdrawn coz some countries are very restrict on money Laudering.

[Bloodseekers]

Money laundering started in fiat, I don’t understand why fiat is not banned. I feel that the governments are not able to control crypto currencies like fiat, hence some countries don’t allow it.

Of course goverment will not ban fiat money because from fiat goverment take a lot income tax. Yes goverment cant control crypto, that why he make bad issue about bitcoin to convince people that bitcoin is bad, This is big agenda for something big. The funny is, goverment dont ban ripple, like my county all crypto is banned but ripple dont, why ?? Centralized.

[vaughn125]

The risks of the bitcoin trading warns by government's countries such as : many criminals used virtual currency as a tool for money laundering. Second, virtual currency is a digital form, so the risk of hacking, stealing, changing data is huge. Third, virtual currency values fluctuate continuously, so the investment risk is so high. Fourthly, virtual currency is an asset that has not yet been managed by a state management agency. When a dispute arises, the legal safety of participants is very difficult.
Hence, there are some of financial specialist in called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering.

fud being spread by these people because they have investments or businesses that highly benefit on fiat. there are a lot of people on top that want's to get rid of cryptos completely because it clearly damages the businesses of these big people. and most specially, they want cryptos to be destroyed since these big people are already in great control over a lot of things around the globe because of the monetary system and cryptos pose as a great threat to their speriority over other humans because they cannot do anything to control the owners of crypto currencies. they cannot force the crypto people to abide rules the set of rules that they have implemented or are still planning to implement with the help of the government that clearly are just made for the benefits of the elite alone themselves. to cut the story short, the crypto world is ruining everything for these elite people that currently run the world.

that is what i honestly think.