Cryptocurrencies are not harmful for economy

[Holly8]

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

It's only harmful for governments' pockets lol. They might as well ban fiat money because government's control won't stop evil deeds. I wish real gold was a currency again like in the past. Government can discontinue any fiat money as they like so it makes me wonder if a rich person with just fiat money can really say they are rich.

Matthew 22:21 Jesus said "Render to Caesar the things that are Caesar's; and to God the things that are God's." Romans 13:1 "Let every person be in subjection to the governing authorities. For there is no authority except from God and those which exist are established by God."

The same can be said about gold if they are issued by the government so I rather collect unmarked gold lol.

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[Ozero]

The fact that cryptocurrency does not harm the world economy was announced by some international organizations of the USA and the European Union, based on the fact that the volume of transactions in cryptocurrency is still too small compared to conventional currency. In the future, they can still change their minds, but we hope that this does not happen. While still in motion, cryptocurrency continues to evolve and no one knows what its development will lead to.
Mankind has not yet known such forms of cash payments or has not retained information about this. The first experience of the official introduction of cryptocurrency in Japan since April 2017 was positive. There was an increase in domestic gross income of just over half a percent and an increase in the wealth of citizens.

[jrrsparkles]

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

It's only harmful for governments' pockets lol. They might as well ban fiat money because government's control won't stop evil deeds. I wish real gold was a currency again like in the past. Government can discontinue any fiat money as they like so it makes me wonder if a rich person with just fiat money can really say they are rich.

On countries where no gold present will hardly oppose this and will never let this to happen even if the super powered countries agreed to remove all the fiat because the one who mine gold will control the authority which doesn't make much difference from the fiat system but on cryptos already bitcoins were present and no one is going to control so surely there will be clear decentralization on crypto economy over gold economy.

[Georgfree]

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

Cryptocurrencies have now reached the wrong level of the course and I think that the future lies with them.

[Kemarit]

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Different reasons but surely all of those government who's taking actions and asking for KYC are trying to have a control over this industry, they are creating rules in order to make sure that people around their jurisdictions are complying with the government and not sabotaging their entire economy, crypto can't be more powerful than the Fiat that they've using it can turned out to manipulates everything around.

It just boils down to one reason, they wanted a full compliant framework here so that they won't lose the control they hold. They are just masking it that's why we see lots of reason being given by government today. Then want KYC, they want shared data all across trading platform. Because they want to know who are the individuals behind and wanted to see what's going on. Might be an interesting read for everyone: (https://cointelegraph.com/news/india-supreme-court-gives-central-bank-2-weeks-to-justify-crypto-ban).

[tippytoes]

Heavy regulation/KYC is fully contrary on why crypto is being created on the first place but due to regulation and for them to make an operation they would need to abide

government rules or terms which do really sucks and for us users we wont have any choice but to follow.The only thing that I wanna say is that government do still have that generic reason why they wont accept crypto and that's about illegal matters without even thinking that fiat itself is already a nest of these said shady transactions.

Different reasons but surely all of those government who's taking actions and asking for KYC are trying to have a control over this industry, they are creating rules in order to make sure that people around their jurisdictions are complying with the government and not sabotaging their entire economy, crypto can't be more powerful than the Fiat that they've using it can turned out to manipulates everything around.

It just boils down to one reason, they wanted a full compliant framework here so that they won't lose the control they hold. They are just masking it that's why we see lots of reason being given by government today. Then want KYC, they want shared data all across trading platform. Because they want to know who are the individuals behind and wanted to see what's going on. Might be an interesting read for everyone: (https://cointelegraph.com/news/india-supreme-court-gives-central-bank-2-weeks-to-justify-crypto-ban).

I do believe that they really want full control on the crypto aspect the reason why they want full compliance when it comes to dealing with cryptocurrencies. But such full control is not possible in crypto. However, they can only regulate the usage of crypto because of its nature. I wonder if they truly know how crypto works.

[Schirer]

The investment in cryptos can not be viewed as a risk even from governments side, becasue it is the same kind of investment as anything else
The concern form their side could be something completely different - the wealth transfer using crypto currencies. But the tracking services and regulations over the globe is starting to catch up and also this wont be a problem anymore soon.

[carter34]

Governments that are coming down on cryptocurrency are doing so because crypto is seen to them as something they can not comprehend being used as payment, in competition with fiat. To them is a reasonable argument but they forget to know that in the past, there were no jets, airplanes and other suffsticated ways of acclimatizing to the ever changing world.

[marcbitcoins]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

[audaciousbeing]

To say crypto are not harmful as a blanket statement is being economical with the truth because no matter how harmless an item is, it can be used for to harm people. As much as a nuclear station can be used to power a locality, it can also be sued to level the same station in the hands of the enemy of the state. For now, the volume of the transactions of bitcoin can be said to be harmless as its not enough to cause disruption in the scheme of finance but with absolute free hands, it won't be long before the people who are bent on just seeing the entire market crumble see it as a means to carry out their unwholly activities in a massive way thereby polluting the entire crypto hemisphere.

[jaocoincrypto18]

Until this moment there is no reported country that became miserable after welcoming the crypto currency therefore this shows that Crypto currency is not harmful to the economy. Crypto regulation is the answer for those countries that are doubtful so maybe they should try to regulate it first before jumping into conclusion.

[carter34]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

[buwaytress]

Until this moment there is no reported country that became miserable after welcoming the crypto currency therefore this shows that Crypto currency is not harmful to the economy. Crypto regulation is the answer for those countries that are doubtful so maybe they should try to regulate it first before jumping into conclusion.

Fallacy of (a lack of) reporting. I'm not sure there's any country reportedly in seventh heaven either after "Welcoming crypto".

I will point out that Marshall Island's president, after proudly and boldly announcing their intentions to launch a crypto (called Sovereign I believe), got an almost immediate slap from the IMF. Thinly veiled threats about the risks of disassociating from the US dollar and the wider global system.

And shortly after that fallout, she had to go through a vote of no confidence from her cabinet (she survived).

Pretty sure it was a miserable experience.

[iMark]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

I think crypto does not completely eradicate poverty and unemployment because income in crypto is uncertain, especially its price is volatile and can hurt investors. and the government's consideration is not only from that, but what does the government get from the presence of crypto for the government itself? nothing, but losses obtained from the presence of crypto.

[Kunnu]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

I agree with you. In my country the current stage of economy is not good at all many people are facing unemployment and the reason is not crypto currencies even crypto currencies are not regulate nor ban in my country only few people know about it the only reason is for all this dirty politics.

[iMark]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

Yeah I agree that, crypto can provide other options for unemployment to get another option to get a job, although crypto is very positive effect for the people. but the government does not see that reason as a reason to legalize it, the government has certain internal reasons to bancrypto, because crypto have negative effects too in the government economy

[Ridwan Fauzi]

Yeah it is a long time ago but now I guess there is a few countries even we can say it below five countries who still ban bitcoin in every purpose. Actually, for those people who still ban cryptocurrencies they still have a chance to invest in since investment in cryptocurrency we don't some parties to start in. They just make an exchange such as binance exchange and they can deposit through it and they start investing.

Even, I just thinking that this situation will take a short time and the government will regulate it sooner. Other than that, we can see more countries who has decided to ban cryptocurrency but now they try to regulate it with more supervision. It is not bad, because me myself is agreeing that the using of cryptocurrency need a more supervision from the government. At least it will make them aware to create a lot of innovation through this technology.

[imstillthebest]

we can say below five countries who still ban bitcoin

five or below five countries?  thats way too small  .  what i know is that there are over 100 plus countries and im sure that most of these countries still didnt heard about bitcoin and other did heard bitcoin but they cant help but ban it.

Actually, for those people who still ban cryptocurrencies they still have a chance to invest in  cryptocurrency

oh how come?   cryptos are already banned,  meaning its not accesible anymore.

me myself is agreeing that the using of cryptocurrency need a more supervision from the government.

only you but what about us , others ? we dont agree with that . crypto dont need government supervision because its not what they intended. . they must only work independently away from governments.

[qwertyup23]

In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.

Cryptocurrencies perse are not harmful to the economy, as in fact, it is beneficial since it creates a system where there is an inflow and outflow of cash through its transactions.
What makes cryptocurrency repugnant to the government is its inherent nature and effect providing anonymity to its transactions without any trace left. Back in the days, people used cryptocurrencies as the main medium in online black markets (Silk Road) where they usually transact illegal drugs or services available.

Unfortunately, it created an ongoing stigma against cryptocurrencies and has been branded as something that is harmful, without even knowing its full potential to the consumers and businesses.

[marcbitcoins]

There are some nations that are too blind to see the advantages of accepting Crypto currency investment like reducing the unemployment problem which is the most common problem of every nation. Once unemployment will be reduced it will increase the purchasing power of the people making their economy to become more strong and stable.

You didn't state the way bitcoin will reduce unemployment. Or , will everybody start mining bitcoin?
If talking about hodling, that is not encouraged for someone to rely on and trading is far risky than you think

Those people that are unemployed will probably no financial income at all like from salaries but if they could freely to join Bitcoin investment of any concept like thru mining, bounty and trading then they will going to have an opportunity to start generating their own income without depending on the government help anymore because they have already employed themselves.