Why do countries and banks keep dumping on Cryptocurrency?

[AF80]

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

[CaptainKid]

Do not exaggerate! Not all countries prohibit bitcoin, do not believe all the news. For example, Germany recognized bitcoin as a means of payment! So, you can continue to deal with crypto-currencies and believe in their development.

[hosseinimr93]

I don't think you have read the news in the past days. We are not hearing bad news nowadays. We heard some good news from Germany, Uzbekistan and even United states.

[SaShiRaJaVu]

@ OP i understand that you are new to crypto currency trading and the market trend just changed from the free flowing growing market to an unstable market when you started trading,these things happen and it will change at a later stage,we will have regulations but no one is going to ban bitcoin,the market will move according to the news and that is nothing new,just hold on to your coins.

[aardvark15]

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

Banks feel threatened by cryptocurrencies because banks rely on customers using banks for holding customer funds. This allows banks to use a theses funds to lend out to other customers in the form of mortgage loans and car loans. They also make a lot of money on customers using their credit cards for purchases and in interest fees on credit card balances. If customers switch to cryptocurrencies for storing money and as a method of payment, banks lose money.

[Ranly123]

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

Maybe not all countries and banks are against cryptocurrencies. I think you are exagerating the facts that some countries are banning cryptocurrencies and believe in false news about it. As an investors we should have to believe on the positivity of our investments even against the odds of banning and dumping. Right now what the government do is to protect their people agains the fraud brought by some scambags using cryptocurrency to extract money from investors. I dont think the government are trying to kill cryptocurrency but instead they are just protecting their citizens from a possible loss  because of the volatility of cryptocurrency.

[Velkro]

Why do countries and banks keep dumping on Cryptocurrency?

Its direct threat to their hegemony.
Its a novelty, that people dont understand. New things are pushed away by old people, its normal phuman psychology.

This are main two reasons. Time will solve this

[lionspride07]

I think the fast changing of the value of bitcoin is one of the reason of so many bank.

[Mofoblitz]

The countries and banks knows that with cryptocurrencies, they have a harder time controlling the money of the masses since with cryptocurrency, we can bypass them entirely and spend our money whatever way we please.

[lizardbtc]

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

Problem is that creating your own currency in many countries, if not all is seen as illegal act. With cryptocurrency, since it's peer to peer you can't stop it. So of course that there will be fear from those people that are comfortable with things they are right now and they don't want the cahnge because now they are in control of how things work.

[serizawax]

Every bank in every country is likely to ban cryptocurrency especially bitcoin, because cryptocurrency is something that fluctuates. When talking about benefits, cryptocurrency is very useful for people, because it can make people earn a lot of money in the near future, But you must be aware that such things can affect the growth of the value of the currency in each country, it could be at one time the price the currency in a country will get mired by bitcoin, I may not know how logically, but many bank officials in every country always say so.

[elramsy]

Well, not all countries ban Bitcoin and other alternate coins, Most of the countries are just looking for ways to regulate the currency so that their citizens' investment will not go down the stream. There is great potential in cryptocurrency. some countries have even taken some steps in creating their own cryptocurrency. which is a very good idea

[TheGreatUnknown]

I heard that in Dutch the banks refuse accounts for cryptocurrency business. All of the major banks in dutch refuses entrepreneurs that are active in cryptocurrency to open business accounts because of the reason because of "too great compliance risks". Only online bank Bunq allows cryptocurrency businesses to open accounts under certain conditions.

[lukeclick]

They are afraid of the tech and the fact that it is decentralized means that no one person or organization can control it which means that they can no longer  control our money and what we can do with it.

[Sachinist]

Because it's revolutionary and a direct threat to fiat economy. It doesn't help that some of the early use cases for Bitcoin were illicit activities, providing a convenient pretext for the establishment's resistance.

[AdamRay]

I just heard the Chinese and Indian governments banned Bitcoin. Other countries are approaching Bitcoin, they are trying to develop Bitcoin, bringing Bitcoin into everyday life such as Germany, South Korea, Japan ... etc. And many countries around the world are benefiting. Useful from Bitcoin. Not as you think. I think you read the bad news, they put bad news to manipulate the Bitcoin market.

[faithupgrade]

Banks wants crypto to collapse because they fear Bitcoin of killing the value of fiat. Some investors particularly the stock owners.. Wants crypto to collapse because they want to enter crypto on its lowest value.

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

[boy130]

Isn't it obvious? The best way to stop something you cannot control, is to stomp it out early. They didn't do enough in the early days when Bitcoin was still young, now it's grown to massive proportions that they didn't anticipate. Bitcoin is a mechanism that can be used to subvert their control over the population, the government and banks would not want that.

[kaya11]

All the news we read nowadays is basically about Countries banning cryptocurrency or high level bank officials dumping on cryptocurrencies calling them lousy mode of pay, fad etc.

Why are they trying so hard to kill cryptocurrency? I recently got into trading myself and absolutely love it, but it seems a lot of the opportunities to trade successfully are killed by these people.

I agree that there should be regulations to curb crypto use with criminal activity but not if it puts a leash on prices.

It just seems there's a lot of insecurity after the great year cryptos had last year, it's almost as though authorities expected it to die by itself but it grew into a monster and now they're trying to do it themselves.

I know for some reason that banks don't agree with digital currency is that they can't continue make money if it will be used as the main currency. No banks shall be able to earn interest, and interest that came from the people who have invested in banks  first hand and if this kind of technology will be widely used then they are out of game and that is the day that most of us will celebrate , miners will be the one doing the job and in an instant way and considering large amount of transactions. You see when you have 1 million USD in the bank they won't allow you to withdraw it in a single day as it is invested in different ways and they need to collect it and it will take time. In crypto you can withdraw yours and transfer anytime you want as long as there is internet and miners with less hassle and almost zero value transaction fees.
If were to give a suggestion they, the bankers pays most of the media and folks who are in power to totally shut down crypto, greediness is what they have and it will lead them to destruction for sure.

[Kprawn]

The people doing this, is the people who have the most to lose IF Bitcoin succeeds. They went through all the stages of disruption

and they cannot deny the inevitable now, so they are fighting back. They ignored us and thought this is going to go away like a fad

and they were wrong. We should feel honoured that CEOs of massive Banks are going full throttle against us in public, because we

know now that they are feeling the pressure of disruption.