What is the biggest misconception of Cryptocurrency in your country?

[lelangsabun]

yeah should agree with that, people have to much missconception for what a crypto currency look a like, they thik this is an easy money, but is not, people who have become millionare they deserve that becasue they investing in it when the price are still just a few bucks,

[doreraj]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

suppose the same as anywhere
misunderstanding how something can work on out of governmental control.

[mahibul49]

same here in our country.govt think its scam but they didnt research it well but surely oneday they will realize and people will know what is blockchain.

[LeGaulois]

One if the biggest misconception about Bitcoin in my country, but not only, worldwide too. Considering Bitcoin as an investment scheme because it isn't what Bitcoin, or the basis of any cryptocurrency, is supposed to be for. If Bitcoin was never considered as an investment then perhaps Bitcoin could be a lot more adopted today.

[Sijan677]

In my country, the government has banned people from entering the crypto market in any way.But many people who succeed with bitcoin hence the thought or assumption of others that bitcoin is an indisputable scam

[Choyor]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

Because it has no formal basis and regulatory authority, so some people consider bitcoin prone to be abused for illegal transactions, to money laundering. they also consider that the circulation of bitcoin is also a fraud because there is no legalization of the government.

[s31joemhar]

I think the biggest misconception of cryptocurrecny in our country is judging the legality of bitcoin without hearing the reason behind of it
because of being close minded about business.

[1993jochico]

Here in my country there are also many people that think's BTC is a scam, but there's also a lot of people here invested on BTC and do mining because they study about it before they judge only those people that dont conduct a study will think that BTC is a scam. They did'nt notice that it is important for them to join us now so therefore when cryptoworld is already used by most of the people they will just starting to study and give attention to it. Its always better to be early.

[pokang13]

they do not really believe because bitcoin is not physically like a country's legitimate money and most people think bitcoin is a fraud

Many people think it is a scam.It is not real.People are skeptic and pessimistic about it because it is not tangible.They cannot see it and cannot use it instantly.People say it is risky to invest in Crypto because you do not know who to blame when crypto fails.
But I belive it ia time for people to change ther view and start studying it.

[r32godzilla]

In India,the government doesn't encourage crypto currencies.Rather the centra bank RBI has initiated all the other banks to close accounts related to crypto trading.T he Indian government is in an idea to launch its own digital coin named as Lakshmi.Also the Indian government wants to totally stop anonymous transactions and for this,its trying to digitalise all payments.So it would not be ready to allow cryptos which are mostly used for anonymous transactions.

[webtricks]

In India,the government doesn't encourage crypto currencies.Rather the centra bank RBI has initiated all the other banks to close accounts related to crypto trading.

This is a half truth buddy. Banks aren't closing accounts of every trader. RBI had notified banks that they are no longer allowed to provide any service to individuals and firms engaged in the commercial business of crypto trading. This definition includes only exchanges and other allied service providers.

Individuals selling their holding or buying from another holder are not included in above definition and they can still continue to buy/sell cryptocurrencies without any restrictions except the fact that they can't use exchanges for that.

[emmiebrizzie]

Where am from, majority of the people still don't know the different between bitcoin and blockchain. And some other people think bitcoin is something you buy today and get rich tomorrow.

[andohyeb]

In my country cryptocurrency is a seen as a sophisticated technology which only the savvy or computer geeks can enter. It is also believe that any bitcoins holder is a wealthy person .

[Xenoph0bia]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

In my country in India 🇮🇳 for now, bitcoin is still banned and Reserve Bank of India has strictly banned the crypto currency from India and has warned all the people in India that they have to warn all the money that they has invested into bitcoin in the notice regarding 03/04/2018 and then the notice came in the July that RBI is discontinuing all the services for bitcoin and all the Indians will be responsible for all the loses now but still there are expectations that there could be some amendments in this notice.

[micle222]

In my country on the basis of rejecting Bitcoin, including me because I used to be less interested in Cryptocurrency.
Then I saw that Bitcoin was increasingly rising in price and could not be pursued by my elimination while working.

The rest of my country is opening up for cryptocurrency but to lose money etc is at my own expense.

[connexus]

Here in my country they thought bitcoin is just a scam only few people can fully understand what is blockchain and crypto currency so everytime they will hear bitcoin people will say you should stop that because its a Scam.
How about you? What is the weirdest thingy you heard from people about bitcoin or crypto currency?

There are countries and people do really thinj that bitcoin is scam. They lack knowledge about bitcoin and how they will benefit from it. They never experienced yet the good thing that bitcoin may bring to their lives and with that belief surely they will regret it in the future.

[Markscott86]

I think one of the misconceptions about cryptocurrency is that people think it is a scam that will eventually make their money lose, but one should understand that this crypto technology is powerful and potential in future.

[Innerpumper]

My bitcoin country banned because they thought bitcoin is only used the corruptor, terrorists even bubbles.

[vladmamedov657]

In our country it was legalized, even in universities and study

[SilverCup08]

Same thing here but only for those who are not really into it. You know, the traditionalist and we can't blame them because of the news that are going out about scams on cryptocurrency although those in the trading system are already quite comfortable with it already.