What makes some countries to doubt cryptocurrency?

[GIFTMICHAEL]

Poor economic advisers are the reason some uncivilized countries like Nigeria is banning cryptocurrency in the country. This is not the reason why our currency is depreciating and falling. Cryptocurrency is working where other currency exchange can not make things possible for the online investors.
The government do not have any genuine reason for stopping digital currency.

 

[Ezzyoj]

The doubt that most of these countries have is because of the lack of control over the crytocurrency. Corruption has eaten up all these countries, many of these countries leaders are selfish and want power to only themselves. They don't want to be monitored

 

[Chibson]

Cryptocurrency has come to stay and of course the way it is moving right now I see it dominating in the nearest future. It is high time every country started accepting the fact that cryptocurrency has come to stay. There are currently over 1000 currencies in the world and this number will continue to go up and up in the near future.

 

[Chizfab]

They feel than anything that has to do with Cryptocurrency is fraud. I wouldn't blame them for such backward assumption because many fraudulent activities are related to Cryptocurrency, same way legitimate businesses use it. Down here in Nigeria, theirs is as a result of improper study of Cryptocurrency and how it can influence the economic growth.

 

[WhiteHouse]

That may be because of the criminal tendencies and activities that the Cryptocurrencies and the BLockchain technology can allow, but I think leaders of those countries should focus more on the good and advantage of Cryptocurrencies.
There's nothing that's perfect, and there are ways which we can curb this criminal activities through KYC and the likes.

 

[marky]

that they can handle in the event that you need to consume it and that is what's going on in my country at the present time. the Federal Government can't handle digital currency the following move is simply really awful so that individuals won't participate in it once more.

 

[Sincerem]

I don't see any reasons except stupidity and ignorance. When a country does not allow cryptocurrency trading and investment, it is stopping its own people to gain financial freedom. This is happening because the people in the government and policy-making levels are old people, they don't have visions because they have lost eyesight.

You spoke wisely @Mika, through the experience you have when it comes to Cryptocurrency and its benefits. My country's government are full with political old folk that knows nothing about rulership. They just occupy rulership position in order to exercise their authority that doesn't add values to the people. I don't see how a government that takes its subjects as priority will fail to provide jobs to its subject and the only livelihood the people ventured into got banned as well. My country's political leaders are not meant to be ruling us again, its time for youth to lead.

 

[Ehizzy1]

My aunt used to work in the central bank and her colleagues there said that our government will never recognize crypto currency because it is not a currency at all. They called crypto as pseudo currency which is like an impostor. When I said that crypto currency is a commodity they instantly agreed. As a commodity it can be sold and it can be bought. But paying with crypto for your purchase of an item in the store is like a barter which means you buy a product and you pay with a product.

Yeah but crypto is digitalized and not like in a full barter form i think , so if the person want to purchase the product , you could rather just send him the crypto amount in a digitalized form instead of exchanging physical goods for physically goods in a barter grade i think

 

[Jlife]

I think the reason for such as shown is that they believe that if they adopted cryptocurrency as mode of normal transaction that cryptocurrency will come and take their banking and economic system of their country as everyone will like to move into digital currency and abandon the physical cash.

Post automatically merged: Feb 9, 2021

I think the reason for such as shown is that they believe that if they adopted cryptocurrency as mode of normal transaction that cryptocurrency will come and take their banking and economic system of their country as everyone will like to move into digital currency and abandon the physical cash.

 

[Dowenship]

I really don't understand why some countries still doubt Cryptocurrency even when its been 12 years since it came into existence. My country Nigeria, doubt its long time future and benefits it can bring to their economy and the individuals. And other countries too around the world still have same doubt around the merits of Cryptocurrency.

Is your country among those countries doubting Cryptocurrency merits? What is the reason behind the doubt? Explain!

The way we all felt the first time we heard about crypto currency thats the way countries also feel reason because they dont have enough knowledge of blockchain. The day we both have what crypto currency is all about! Our interest grows

 

[Maloney22]

In case of Nigeria, the government says cryptocurrency is used for fraudulent activities and transactions can't be traced. Cryptocurrency has been used by many fraudsters to transact businesses without traces. The reason why government wants to ban it.

 

[idhans]

I really don't understand why some countries still doubt Cryptocurrency even when its been 12 years since it came into existence. My country Nigeria, doubt its long time future and benefits it can bring to their economy and the individuals. And other countries too around the world still have same doubt around the merits of Cryptocurrency.

Is your country among those countries doubting Cryptocurrency merits? What is the reason behind the doubt? Explain!!

so many countries are aligning to this new technological innovation. cryptocurrency have really helped some countries to reduce the problem of having shortages of FX. It is high time Nigeria join other countries to invest in this new innovation. A lot of people have become millionaires through their. investment in cryptocurrency

 

[Eshaaa]

As Bitcoin was celebrating its 10th birthday last month, most governments are fighting to regulate cryptocurrencies and tokens, while slowly but surely accepting the principles of a cashless society and a fully digital money world. Are cryptos going to threaten and disrupt national currencies?

 

[Kingsley]

Many do not understand the framework of the crypto currencies so they kind of shy away and pretend that it is bad, and many other country is scared of their fiat currency disappearing with time. While others at been extremely wicked because they don't want people prosper.

 

[ahmedo24]

The fact that Crypto currencies are decentralized without central control makes countries to be skeptical about it that no body can be held responsible in case of any eventualities.

 

[Ayokex]

Many countries doubt the authenticity of cryptocurrency because they are actually afraid of the technology power behind the development. It is very difficult for any any to trace the sources of these currencies, this has really pose a real threat.

 

[Adebola]

I dont know about other countries but my country is scared of their fiat currency losing value so that is the reason why they will not acxept crypto currency

 

[Grant]

The doubt comes from the fact that cryptocurrency isn't 100% secure. There is a risk that your earnings could go away quickly. The market could drop like that, and without warning sometimes. Personally, crypto rocks, but it's a high risk investment imo.

 

[Richard92]

most countries that cryptocurrency is because he is a decentralized market this is because it is not being run by any government but by private individuals and because of this countries do not trust it

 

[Senator]

The cryptocurrency buzz has created a lot of freedom and control people exercise over their cryptocurrency as if they are a bank of themselves. This gives the authorities some geared about control