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ir.yance
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June 30, 2018, 08:26:46 AM |
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So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?
I think the reason behind all this is that governments and banks are afraid of currency in their country being defeated by crypto currency. in addition there is also the reason the government and the bank forbid bitcoin because crypto currency is a currency that stands alone and not in control by a country or government. |
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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harbin55
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June 30, 2018, 03:04:02 PM |
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I think through the lack of the legality of bitcoins in the some parts of the whole world, many banks and government are afraid in that investments which may bring a big problem to them.
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pieliedie87
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June 30, 2018, 04:19:44 PM |
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I think through the lack of the legality of bitcoins in the some parts of the whole world, many banks and government are afraid in that investments which may bring a big problem to them.
I think they're afraid of them not because of the investments which were coming from investors, i think it's about Bitcoin will replace banks in the nearly future. It's the one. |
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Zigzagkuy
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June 30, 2018, 04:23:17 PM |
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That's easy. Banks and governments are afraid of bitcoin is because bitcoins can not be controlled by them. So they can not pay taxes to bitcoins. Bitcoin is very strong and can not be controlled by anyone I think. So that's a strong reason banks and governments are afraid of bitcoin.
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pareshnakar
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June 30, 2018, 04:32:18 PM |
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bitcoin value more high and they dont know what is bitcoin they know only it is value high and problem in our economic so bank and government scared.
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tamradhwaj
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June 30, 2018, 05:14:05 PM |
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Because banks and government wants full control on it. they want keep eye on its every transactions But with bitcoin it will never happened because of its decentralized nature.
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Javed zaman
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June 30, 2018, 05:18:40 PM |
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Banks and government are scared of bitcoin because if it gain control then there will be decrease in taxes paid and will hamper the growth of the nation.
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Philcris
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June 30, 2018, 05:29:49 PM |
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They are scared of bitcoin because bitcoin some bitcoin holder are scammer and duplicator so thats why banks and governments are scared of bitcoin.
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pathapoddo
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CRYPTOCITIZEN $CCASH
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June 30, 2018, 05:43:42 PM |
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I think bank thinks that virtual currency will reduce the use of banks. Because people will convert their Money to virtual currency in a small amount. And government are scared to the security of this currency. Because this virtual currency has no control. So government will have no control on it.
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Dimon888
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June 30, 2018, 06:32:31 PM |
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Now bitkoyny - the most popular virtual currency in the world, through which you can pay for online goods and services. All operations can be carried out independently, without the services of banks and other financial institutions. Payments are quick and cheap. No one controls or regulates payments. The authorities are concerned because such payments are extremely difficult to track. Therefore, they prohibit crypto currency in their countries.
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syarifudin
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June 30, 2018, 10:49:57 PM |
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Banks have been part of our society for so long that we forget what exactly they do. We regard it as a bastion of security and stability. They hate Bitcoin because of that inherent instability.
George Basiladze from Cryptopay - a company that provides services to buy and sell Bitcoin in the UK - argues that traditional banking systems around the world are uncomfortable with Bitcoin.
According to him, Barclays, one of the world's largest regulators, has recently renewed its policy on private banking and e-money services and, later, a wave of worldwide licensing freezes.
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rockyboy
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June 30, 2018, 11:11:12 PM |
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For me they are scared because of the uncontrollable feature of bitcoin. That makes them so scared, they cannot control the flow unlike with real money there is a physical features that digital currency doesnt have.
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blackandred
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June 30, 2018, 11:18:31 PM |
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bitcoin absorbs a lot of social wealth . it can be freely transnational . the government and banks have no way to control it . bitcoin will replace banks in the future .
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SamarasLoch
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Crypto Trader/Enthusiast/Investor
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June 30, 2018, 11:28:05 PM |
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The government and banks always want to be in control of the wealth of individuals but bitcoin has denied them that since it is decentralized and beyond control from any central body. Bitcoin is already becoming a disruptive force to the way banks and huge financial institutions operate. Very soon their practices will be scrapped and bitcoin will achieve mass adoption.
They dont want that and thats the reason they look for all possible ways to ban cryptocurrencies. But they will continue to fail in their attempts because 'BITCOIN AND CRYPTOCURRENCIES HAVE COME TO STAY'.
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Nunii
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June 30, 2018, 11:40:08 PM |
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Scared because they got no hold of cryptocurrency right now. They still find it difficult to regulate it but when the time comes its all clear to them, then mqybe they will loosen up and fully allow crypto.
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Ravenangel
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June 30, 2018, 11:51:33 PM |
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Bitcoin presents threat to these institutions, especailly the banking secor, btc if legalized has the ability to rendr the banking sector obsoete as it adresses al the faults of the banking system
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Bitcoin to the moon
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Jupeter
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June 30, 2018, 11:52:01 PM |
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Scared because they got no hold of cryptocurrency right now. They still find it difficult to regulate it but when the time comes its all clear to them, then mqybe they will loosen up and fully allow crypto.
For me there are some goverments and banks are scared of bitcoin because many people all over the world is trusting bitcoin and many people are now prefer to put there money in bitcoin over than putting on some trusted banks. |
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DoublerHunter
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June 30, 2018, 11:56:32 PM |
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Scared because they got no hold of cryptocurrency right now. They still find it difficult to regulate it but when the time comes its all clear to them, then mqybe they will loosen up and fully allow crypto.
For me there are some goverments and banks are scared of bitcoin because many people all over the world is trusting bitcoin and many people are now prefer to put there money in bitcoin over than putting on some trusted banks. That is right, more and more people are trusting bitcoin rather than banks because they know that if they are going to put money in bitcoin then they can earn more money in a faster way compare to the banks because the banks didn't have any other offer which have a higher rate compare to the possible return in cryptocurrency. |
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Magic Sarap
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July 01, 2018, 12:07:31 AM |
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Bitcoin presents threat to these institutions, especailly the banking secor, btc if legalized has the ability to rendr the banking sector obsoete as it adresses al the faults of the banking system
Maybe theyre not really afraid, they think that it will only cause crimes if they accept bitcoin on their country. Widespread of illegal transactions, trades in black market. And also they think about banks who uses fiat money, and if banks loses customers also the economy of a country will go down for not using bitcoin as their money not their own currency. |
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SingAlong
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July 01, 2018, 02:01:25 AM |
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This is one of the strongest issues that bitcoin are facing because of governments and banks it can affect not only the price but also the survival of bitcoin. The question is why government and banks are scared on it. Governments are scared on this because they can't control or trace bitcoin they will not know if the transactions inside are gooe or bad and they will not know or monitor the money flow inside this eill be a big threat in our economy and security. While banks are afraid to replace by bitcoin because it is starting to accept as new currency and new digital monetary system.
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