Rich people causes cryptocurrency ban

[oktana]

Lol, so, rich people should stop investing in Bitcoin? IMO, it's doesn't make any difference. Whether they stop investing or not, the ban that has been put can only be removed when the governement realizes how important Bitcoin is as a cryptocurrency.

* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?

They ban Bitcoin because they are jealous of how Bitcoin can make one operate anonymously!

* What is the negative effects using crypto as currency?

The negative effect are the same effect as normal fiat. Anyone can use it as if it were fiat, so there's no special negative effect that it comes with.

* what harm does bitcoin contributes a country that can lead to ban?

Like I said earlier, they are just jealous. There's no special harm, after all, not everyone uses it, just some percentage so why does the government have hate/jealously? IDK.

However, when they see that they can't control it anymore, they will have to choice but to remove the ban.

[syedakhlaque]

The purchasing of bitcoin of rich people does not cause the bitcoin ban because its purchasing increases its value. If more people and banks will involve in its selling or purchasing its graph will rise and credibility will be strong. The need of today is that its usage for crime should be stopped. That is very important for its survival. The framework of rules and regulations should be designed to eradicate its usage for crimes. Because its positive use is very fruitful for all communities of the world.

[noorman0]

Rich people are easy to become influencers for middle and lower class people, they are often considered an investment signal. Their influence (the rich) can be a threat to the government where fiat can erode the number of users.
In addition, because the rich are contributing a lot of state income from their corporate taxes. Cryptocurrencies have grown into thousands of alternatives, of course it is a good tool for relinquishing control and "hiding" assets to avoid tracking owner's wealth.

[lixer]

I seen that cryptocurrency want to be highjacked by rich people, looking around  countries currently, its noticeable that bitcoin increase everyday, every week and every months, the more rich people are investing with cryptocurrency the more government attacks cryptocurrency, most countries that values crypto today is having challenges with government, since bitcoin is important to the extent that top people invest on bitcoin why can't government alone adoption of bitcoin.The Rich's are causing eradication of cryptocurrency
Across the world.

Bitcoin isn’t that bad. And from what I have seen so far, the governments that has banned cryptocurrency don’t really have an excuse that is good enough. Reasons they give are usually not enough good reason why they should place a ban on it. Some of them would say it is because it can be used to fund terrorism, which they don’t even have any proof at all for that.

Most of these terrorists attacks are usually being funded with fiat, and the government isn’t doing anything about banks that are letting these things slip through their watch, which is very bad. Now because they feel that bitcoin is uncontrollable, they now want to ban it.

[Kasabus]

I seen that cryptocurrency want to be highjacked by rich people, looking around  countries currently, its noticeable that bitcoin increase everyday, every week and every months, the more rich people are investing with cryptocurrency the more government attacks cryptocurrency, most countries that values crypto today is having challenges with government, since bitcoin is important to the extent that top people invest on bitcoin why can't government alone adoption of bitcoin.The Rich's are causing eradication of cryptocurrency
Across the world.

Bitcoin isn’t that bad. And from what I have seen so far, the governments that has banned cryptocurrency don’t really have an excuse that is good enough. Reasons they give are usually not enough good reason why they should place a ban on it. Some of them would say it is because it can be used to fund terrorism, which they don’t even have any proof at all for that.

Most of these terrorists attacks are usually being funded with fiat, and the government isn’t doing anything about banks that are letting these things slip through their watch, which is very bad. Now because they feel that bitcoin is uncontrollable, they now want to ban it.

For me, the main reason why the government has banned bitcoin is the fact that its decentralized. And there is no way that they will allow it knowing it won't be controlled by them.  And those reasons that it can be used for terrorism funds or any scam activities are only their excuses so that fiat will still dominate the market and won't lose its value in the long run. Rich investors has nothing to do with crypto ban, although they are mostly behind the market manipulation.

[sirminesalot]

I can't think that rich people causes cryptocurrency ban because it is modern and digital currency. Rich people can buy and trade Bitcoin which make them richer and it is big benifit.

It's not about how rich people could buy the cryptocurrency but it's because rich people who influence other citizens and shares how they could got profit from cryptocurrency, this kind of act will lead to the people in a country starts buying crypto also and the government must be not uncomfortable if the people are moving their assets into digital assets which couldn't be track to cut thir taxes.
If i'm at the government, i also feel the same thing. So in the future we need some technology and a system which can track crypto ownership from it's people, but it's hardly to happen

[KaliLinux]

I seen that cryptocurrency want to be highjacked by rich people, looking around  countries currently, its noticeable that bitcoin increase everyday, every week and every months, the more rich people are investing with cryptocurrency the more government attacks cryptocurrency, most countries that values crypto today is having challenges with government, since bitcoin is important to the extent that top people invest on bitcoin why can't government alone adoption of bitcoin.The Rich's are causing eradication of cryptocurrency
Across the world.

* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?

Well, fortunately, or unfortunately Rich people will always or are always looking for what is the next viable Business venture to engage in to further increase their wealth and Bitcoin has proven to be that investment in the past years. So I don't see them as the problem to cryptocurrency and especially Bitcoin, however, the Government do understand what Bitcoin and the general cryptocurrencies stand for, Financial freedom from the Government and they don't want that to happen hence the constant attack on crypto.