What makes some countries to doubt cryptocurrency?

[nimzy]

that depends on the economic policies of that country some countries are battling with scammers online so they are always scared of how their citizens are scammed online.

 

[Setfragil]

Many countries still doubt cryptocurrency simply because of it anonymity behind the addresses of the holders of the currency. The volatility nature is also a topic most countries keep discussing as it looks more or less like gambling to them.

 

[joy101]

The reason why some country doubt about cryptocurrency is because them are a lot of bankers into the system, so them want to have control over it.

 

[Maphalle]

Think it's a matter of oppressing people because I don't see any reason why they should ban it. That's pure selfishness and being greedy. Maybe that country doesn't have practice people's rights.

 

[Patrik]

lot of reasons, one of them is the huge power consumption that the mining machines consume when mining, another one, is that some people might start using it and give up on real money which might harm the economy

 

[Richard92]

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

most countries that cryptocurrency because it is a decentralized market that is not been regulated by the government and it's all about predicting and people liking it to gambling.

 

[BrolySSJ]

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!!

I think that the main reason behind the doubt in crypto is the fact that there is so much of potential wrong doing that can happen with it remaining anonymous and also there is the tax problem and people not paying tax which i think also raises a concern for governments.

 

[Sincerem]

I think that the main reason behind the doubt in crypto is the fact that there is so much of potential wrong doing that can happen with it remaining anonymous and also there is the tax problem and people not paying tax which i think also raises a concern for governments.

The anonymity and lack of revenue generation, makes the government to doubt Cryptocurrency transition in this present time. But it is their duty to regulate it, fish out those using crypto for malicious things, charge tax at a stable rate.

 

[Kelly5]

The only claim I see them talk about why they do not want to embrace cryptocurrencies is that they are been used for perpetrating crimes. As if people don't use fiat to commit crime too

 

[FreshKaz11]

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!!

I don't think any country is doubting crypto currency anymore,but the problem now is the ban most countries are putting in it all because they believe most bad people use it for their illegal work and received funds through it as well.

 

[Shigobad2020]

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!!

Most of the countries are not doubting the existence of crypto currency but they are rather scared of crypto currency, they are scared that they won't be able to launder money and also divert government money any longer.

 

[Sincerem]

Most of the countries are not doubting the existence of crypto currency but they are rather scared of crypto currency, they are scared that they won't be able to launder money and also divert government money any longer.

They doubt it, if they aren't doubting, tell me why they'll ban initially naira and crypto transactions?? they see it as threat to their fiat currency devaluation, and way of hiding money by other thief's in the political acumen.

 

[Nomad]

Government doubts crypto currency just for one reason: they are dumb! Since they are dumb they believe crypto currency will destroy the economy,

 

[eLdavis]

One of the major reason is that it cant be traced. So if a government official or anyone decides to steal government money and move it through crypto, it means the money can never be traced. And most people usually use it for frudulent activities.

 

[Sincerem]

Government doubts crypto currency just for one reason: they are dumb! Since they are dumb they believe crypto currency will destroy the economy,

I don't see crypto destroying the economy, they just don't hold one particular point when it comes crypto shortcomings. They are just jumping from one point to another.

 

[Nomad]

Generally speaking, wealth is controlled by the government, all the resources that make money are controlled by the government, however, government can lose that position f people begin to create wealth though cryptos.

 

[Sincerem]

So this people called government doesn't want ordinary people to create wealth on their own. They just want to see max poverty everywhere. That's why I'll always support crypto to stay, cos I've seen its massive impact in peoples life.

 

[Shigobad2020]

They doubt it, if they aren't doubting, tell me why they'll ban initially naira and crypto transactions?? they see it as threat to their fiat currency devaluation, and way of hiding money by other thief's in the political acumen.

We are saying the same thing, they are scared of allowing us to transact crypto currency with naira because they will be the one at loss, I mean the politician, they won't have any avenue of looting money again.

 

[Sincerem]

We are saying the same thing, they are scared of allowing us to transact crypto currency with naira because they will be the one at loss, I mean the politician, they won't have any avenue of looting money again.

Lol, they don't want us to gain financial freedom. Since they see many Nigerian youths and citizens finding life going around crypto. They just felt jealous, that this men are just going too far. Abi them wan gain good life, for where? no way, Lol. That's their reason, but its simply pathetic.

 

[Good-Person]

Many world governments ban cryptocurrencies because they believe that cryptocurrencies are a kind of threat to their economy and governments. Despite all this, many countries still want to create their own digital currencies or crypto coins. It is weird and quite strange.