countries allow gambling, liquor,tobacco,horse racing then why not crypto

[Ridwan Fauzi]

many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.

All that you mention can be expanded by the government, it can be with taxes or other things that are beneficial for the government.

Try to look at cryptocurrency, can they manage it easily? what makes it profitable if the government adopts cryptocurrency like bitcoin? tax? I think cryptocurrency users can manipulate it.

[Minerall]

Countries need people to exploit on. Thats why they are against the use of cryptocurrency. Cryptocurrency is an excellent way for the people to acheive freedom from the typical old-fashioned system. People no longer need the government and the governments hate this about cryptocurrency.

[magneto]

many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.

It's not really black and white like that.

The benefits of bitcoin are obvious, yet most governments around the world are still extremely anti-bitcoin in their policies and regulations.

An analogy can be with marijuana, and tobacco. While studies have found that marijuana is significantly less addictive than tobacco and don't have a lot of the bad health detriments that tobacco has, governments still legalises tobacco because of the tax revenue, and most countries still don't have a legal recreational market for marijuana.

Same for bitcoin, while it can benefit everyone as a store of value and medium of exchange globally, certain governments don't support bitcoin and some even go to the lengths to ban it because they are afraid to give up control over the economy, and monetary supply. Either that, or they have an irrational fear of bitcoin's illegal uses (which has been debunked many times).

[Bara420]

It is really a good question and I think they only allow those which they can control but if we look closely we can find that they can not control it may be thats why.

[Gotumoot]

Countries need people to exploit on. Thats why they are against the use of cryptocurrency. Cryptocurrency is an excellent way for the people to acheive freedom from the typical old-fashioned system. People no longer need the government and the governments hate this about cryptocurrency.

All of the things being stated are helping fiat money to be more valuable, thats why they allows it. We know that cryptocurrency is digital money and its decentralized and volatile, because of its characteristics government not allowing it because they can control it and it has abnormal changing of value, and most importantly is that it is a great threat to fiat currency.

[Bessta]

 I think banks are the big hindrance that's why governments do not allow crypto currencies. Unless banks  and governments are not able to formulate or develop safety nets and regulations advantageous to them, cryptos will never be allowed.

[LeGaulois]

We don't have the same potential risks by allowing horse betting, tobacco, and cryptocurrencies. The main concern is about money laundering which is something governments have been fighting for decades. Following your logic we could ask, since governments allow gambling why they don't allow drugs lol

[BrewMaster]

because gambling, alcohol, tobacco and other abusive substances are destroying people that become addicted to them but bitcoin is something that can destroy the corruption that can be found in some of the governments and their banking system so as a result they allow the first group and don't have much of a problem with it but they have a hard time seeing themselves lose control because of bitcoin.

[Juggy777]

many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.

Hey it seems to me you're mistaken as Bitcoins is allowed in almost all countries, while it's true it's not official and some have termed it as illegal but it's yet allowed. There is no comparison between the industries you mentioned as these are backed by rich and influential people, and most of them are bankers who'll not allow cryptos to become mainstream unless they find a way to profit from them, also they're scared it'll disrupt their system so it'll take quiet a while before it's allowed for official use.

[Fundalini]

Of course, these things are properly taxed, used by many people and most of all, tangible. Crypto on the other hand is used only by a small percentage of people, does not classify as goods, not a security, has an identity crisis in being a currency, and intangible. Makes sense that the government would have a hard time dealing with it and would probably resort to banning it.

[Dimon 12]

Life is a game and everything that surrounds us is also a game !!! We take any sphere of life activity - these are the rules that society has accepted! I do not think btc is cheating! I do not think btc is a gamble either! This is a new world and there will be new rules, which will soon be adopted at the state level !!!We are waiting for big changes!

[Nilda]

Because cryprocurrency is a totally different from all those things you mentioned. Gambling, liquor, tobacco and horse racing has been around for centuries. These things will run even without the aid of computers and the internet. Cryptocurrency is too complicated for some people, even to some techies.

[Nexigen]

This is due to the fact that all these activities are controlled by someone and bring a good income. Cryptocurrencies are not controlled, so they are artificially slowed down.

[xWolfx]

many countries allow gambling, liquor,tobacco,horse racing then what is the problem with crypto currency .while it is related to advancement to technology and more secure and reliable system specially for banking system.

Because they didn't see it yet. Some of them are too closed inside their bubbles that they can't see beyond.

Just like with all those things it's just a matter of time, it won't be instant or happen next week. But i personally believe it will happen, over time. You can research how many years it took for each of them.

They will eventually see the light. However, more people need to adopt it to put pressure inside the political systems of those countries who resist.

[Xardasim]

It's not right to measure them like the same things. Before anything else, they pay tax for it and there are some countries, even they fill the budget with these taxes. Certainly, there is tax for the cryptocurrency, but the privacy of the crypto is helping you hide. In addition, acceptance of cryptocurrency will collapse bank and financial sector.

[2fresh]

They will allow almost anything they can make money on, as soon as they find better ways to exploit that with crypto I think we are set to go.