lehuong
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September 07, 2018, 01:53:26 PM |
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Some countries are still not accepting the bitcoin trade. They fear that bitcoins will make them unmanageable and they will be confused if they do not know who owns the bitcoin and how many bitcoins they possess.
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wasaisi
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September 07, 2018, 01:53:42 PM |
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Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
Because they have been affected by the negative news. Allows them not to dare to take the decision to accept bitcoin in their country. Therefore they prefer to be banned from bitcoin because it could disrupt the economy in their country. |
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Brangos99
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September 07, 2018, 02:24:24 PM |
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The reasons vary. Starting from the problem of cryptocurrency fraud, to hacking, cryptocurrency is vulnerable to illegal transactions, money laundering, terrorism financing and misuse of virtual money to avoid taxes. For this reason, many countries do not allow crypto.
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tarable
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September 07, 2018, 03:01:57 PM |
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Some countries are still not accepting the bitcoin trade. They fear that bitcoins will make them unmanageable and they will be confused if they do not know who owns the bitcoin and how many bitcoins they possess.
it all depends on the person, if they are not greedy, then using crypto is no problem. but surely there are people who are quite greedy when plunging into the crypto world, so the government is also afraid of that. |
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ellehcar
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September 07, 2018, 03:11:46 PM |
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May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
That's one thing. They fear that they might lose control or authority over currency. We know it for a fact that governments intentionally increase or restrict the circulation of money to stimulate investment and spending, generate jobs or avoid inflation and recession; that's why control over it matters a lot. Another reason is the high volatility of crypto. Since one of the duties of a government is to protect its people from scams and frauds, they see more the unsecured facet of crypto rather than its benefits. |
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Xisunheber
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September 09, 2018, 08:06:27 AM |
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They have not figured out how to manage and exploit it effectively, states in many countries have banned the use of Crypto. They have also seen the potential that Bitcoin has and what it can do. A meticulous plan may be well prepared before Bitcoin is ready for official use.
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Komissarnik
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September 09, 2018, 08:42:23 AM |
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Control of financial flows is one of the main functions of the state, as well as taxation of these flows. This field of activity is regulated either by the government or a separate group. With crypto-currencies at this stage it is somewhat more difficult to regulate here that many states do not perceive it
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nyobaanweh
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September 09, 2018, 11:20:37 AM |
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Countries banned crypto because they fear that, this might cause them trouble not just in economy but also it might be used on money laundering, another reason is the price of cryptocurrencies is unstable.
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onepiece1995
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September 09, 2018, 11:53:21 AM |
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Lot of countries do not allow to use crypto currencies and they discourage using them. However as far as I feel, trading with crypto is not that harmful for the economy of the country. As an example, if a person has Eth and someone from another country needs to buy Eth, that buyer needs to pay the seller in terms of dollars. Then that seller needs to convert that Dollars to his native currency which means it creates a the demand for the native currency and increase the value of the currency. May be the government is unable to add a tax on such transactions but it is beneficial for the currency used in seller's country.
What do you think about that?
Yes, I also strongly agree with your opinion, it will improve the economy of our country. however there is no tax on cryptocurrency holders it might be included as an excuse, why many do not allow BTC to be in their country. |
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Akoldi_ibk
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September 09, 2018, 08:41:46 PM |
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What do you think about that?
Many countries don't even understand the idea and concept behind cryptocurrencies and the few that do feel they have no control over it. In addition, Crypto gives power and wealth to the people and governments do not for in love with whatever thing that hands power and wealth to their citizens. |
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Kayuslawal
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September 09, 2018, 09:09:51 PM |
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Because they see it as threat, risky and anonymous which can pose a threat to its citizens and also encourage anti money laundering since the transaction run on the blockchain are anonymous and not easy to trace.
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romantic007
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September 09, 2018, 09:36:19 PM |
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But the point is actually that they can't control the movement of money. And this problem is really huge for a country economics, maybe even bigger than the demand of the national currency.
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shushanika
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September 09, 2018, 09:47:22 PM |
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Because they see it as threat, risky and anonymous which can pose a threat to its citizens and also encourage anti money laundering since the transaction run on the blockchain are anonymous and not easy to trace.
The biggest threat next to money laundering is probably tax evasion. Everything that is outside of the visibility or control of the government is a red flag, so it is natural that so many are opposed crypto. But more see this as an opportunity. |
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Elseye
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September 09, 2018, 09:49:53 PM |
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Reasons may vary but in my opinion it is mostly because they see economical threat in crypto, that's the main problem obviously, crypto is also not ready yet to be broadly applied.
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crwth
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September 10, 2018, 03:09:12 AM |
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Reasons may vary but in my opinion it is mostly because they see economical threat in crypto, that's the main problem obviously, crypto is also not ready yet to be broadly applied.
I agree with your first case where it could be somewhat an economical threat towards a country’s economy but towards the crypto not being ready to be broadly applied, it’s not right. In view of the fact that it is already being applied to some countries and being accepted as a form of payment which translates to currency. |
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MAJICOIN
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September 10, 2018, 03:35:18 AM |
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Main reason behind their opposition regarding crypto is the promotion of their country own currency and their own currency is in the control of them but not the crypto and it is not controllable so they so not allow crypto in their country because their currency usage and value will be less due to crypto.
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proxydomain711
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September 10, 2018, 03:38:15 AM |
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It's because the idea behind bitcoin is being a decentralized system, while the state wants a centralized system where they can place taxes on transactions. I'm not against paying taxes because it helps the people become united under laws. If the whole system is decentralized, it's hard for people to control themselves and their behavior, leading to maybe chaos.
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UchihaRukawa
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September 10, 2018, 03:42:03 AM |
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I think it is mainly because of the tax issue, but one important matter that affects most countries is the volatility issue, of course they wouldnt risk the use of such thing with a very high risk of it losing its value. Most countries are still unable to produce the technology needed to fully utilize the use of cryptocurrency, as we all know there are still lots of countries that are graded as third world, they dont have the means to support the cryptocurrency system.
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Squa7ch
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September 10, 2018, 03:42:33 AM |
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Because of the unstability of cryptocurrency, I believe.
A coin can go to the moon in weeks and then go dissappeared in a matter of hours. No one can tolerate that.
Also I think we need a stable price for bitcoin. Probably around 10k. As it goes up and down too fast. The government cannot control it.
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chamika888
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September 10, 2018, 03:56:42 AM |
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The purchasing and living power of the people and in terms of services of various kinds and does not have an architecture other than that left by the French colonialism is almost equal in all things and at the same time and the oddity of coincidences the most country in the world against the use of cryptocurrency it does not allow even the right people In use Credit cards and the right to transfer money hard currency earned by Internet workers, especially investors in the field of electronic currency to transfer their money to local banks and therefore possession.they are scared that cryptocurrency will disrupt their ongoing systems.
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