What makes some countries to doubt cryptocurrency?

[Josemendez]

You are so spot on this issue because the Chinese government has always been saying that they were shutting down all this Bitcoin mining rigs due to the impact on the environment and the huge electricity that they consume but the truth is that China has so many electricity close to pay so that is just an excuse. The main reason why they are shutting down all these Bitcoin mining rigs it because they do not understand Bitcoin and they can't control or manipulate it

I think they do understand it but are not so confident that it won't harm their economy. The news that bitcoin Mining bis hazardous to the environment made it easier for them to pass judgement

 

[Setfragil]

There is no country that will not doubt cryptocurrency because of it volatility nature. It will be a difficult thing for a country to accept cryptocurrency because it is not a stable digital asset which can make people to loose their money unexpectedly.

 

[Sotherefore]

Any country who doubt cryptocurrency cryptocurrency do not really understand the function of cryptocurrencies, I think the reason for this is that they believe that cryptocurrency do not add value to the economy of their country.

 

[Snazzy001]

It is very painful but sadly I must say that some countries that cryptocurrency due to selfishness greed and an inexperienced system of politics or governance

 

[Setfragil]

Any country who doubt cryptocurrency cryptocurrency do not really understand the function of cryptocurrencies, I think the reason for this is that they believe that cryptocurrency do not add value to the economy of their country.

What makes most countries to doubt cryptocurrency is because of it volatility nature. It can not be adopted as a replacement for fiat currency of a country due to it instabilities in market price.

 

[Sotherefore]

What makes mist countries to doubt cryptocurrency is of volatility nature. It can not be adopted as a replacement for fiat currency of a country due to it instabilities in market price.

I think the reason for that is because they are afraid that people will take out most of the money in the economy to invest in cryptocurrency there by reducing the number of money in the economic , which can affect the economy.

 

[tyrim88]

Cryptocurrency without doubt is the future,a lot of people use it for the exchange of good and service, but the problem each country has with it is the lack of control of it inflow and outflow. Let take Nigeria for example, cryptocurrency has made it easy for scammer, bandit, terrorist group and all shady business people to perform transaction and the anti-graft agency has no way of tracing it, this are some of the problem some country face because of cryptocurrency. in conclusion the future of cryptocurrency in some Africa country is not certain

This is very true,because the issue surrounding the control is very important,as some fraudulent persons will use the advantage of its decentralise control to use it for fraudulent activities and since one cannot tract its source of a particular transaction it becomes a big minus to some countries to accept it,except its fiat version.

 

[Heatman]

Well, when it comes to my country Nigeria , it's not that our government doesn't believe in cryptocurrency but for their fear it would affect their currency in a negative way, makes them to ban it.

 

[tyrim88]

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!!

As good as cryptocurency trading is,any state would be very worried about the trading coin.This is because if you look at the coin,the underlying value cannot be evaluated,thereby leaving it to spculation by market forces,and the high rate of returns will invariably make a lot of persons to remove their money in circulation and put into the crypto market,and this no government wants.

 

[Sincerem]

As good as cryptocurency trading is,any state would be very worried about the trading coin.This is because if you look at the coin,the underlying value cannot be evaluated,thereby leaving it to spculation by market forces,and the high rate of returns will invariably make a lot of persons to remove their money in circulation and put into the crypto market,and this no government wants.

Cryptocurrency investment profits is enormous especially when you're leaving your investment out for long time. If you aren't doing that, their is no way it will improve when your experience isn't high trading it.

 

[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!!

Its not actually true that some countries are doubting the use of crypto currency but they makes it looks like they are doubting it whereas they are only afraid that it might affect their economy where they won't be able to collect tax anymore.

 

[tyrim88]

Cryptocurrency investment profits is enormous especially when you're leaving your investment out for long time. If you aren't doing that, their is no way it will improve when your experience isn't high trading it.

Like it is with the issue a government cannot have a control over.When persons begin to withdraw their money from the bank or other systen and investing it into cryptocurrency,then there is really a big concern for any counrty,As this is a receipt to harm any economy.

 

[delnovem]

No doubt Bitcoin and other crypto currencies have influenced and impressed the worldwide business community, but there are certain down points to it as well. The lack of trust and transparency surrounding crypto currencies is a concern for governing authorities.

 

[Setfragil]

I think the reason for that is because they are afraid that people will take out most of the money in the economy to invest in cryptocurrency there by reducing the number of money in the economic , which can affect the economy.

You are not far from the truth, the government are trying to take precautionary measures to prevents their fiat currency from deflation that may likely arise due to the wide use of cryptocurrencies.

 

[Sotherefore]

You are not far from the truth, the government are trying to take precautionary measures to prevents their fiat currency form deflation that may likely arise due to the wide use of cryptocurrencies.

This will not work because people will still continue to invest in cryptocurrency, America is not trying to ban cryptocurrency but they are trying to improve their economy.that is what the Nigerian government should do.

 

[akinlolu99]

When it comes to cryptocurrency even I myself still doubt it because the truth is crypto is like a business that does not have a visual way of monitoring how the money is being made or lost the only thing you are aware of his you are here making money or you're losing money one way what do you order and that is almost like MMM and I am one of the people that suffered deeply when it crashed in my country.

 

[Shigobad2020]

The volatility of crypto currency coin is the first reason why most countries doubt the existence of the coin while some countries are scared that their normal currency will be dragged into extinction.

 

[Alexandoy]

The volatility of crypto currency coin is the first reason why most countries doubt the existence of the coin while some countries are scared that their normal currency will be dragged into extinction.

I wonder why so many are saying that the government is scared of crypto coin. If they are scared then the thing to do is to ban crypto coin and that's the end of the story. One post even said that government officials are losing sleep over the presence of crypto coin. Pardon me but I get a laugh with those silly notions that you guys post.

 

[Robust]

I think one of the main reasons why most countries in the world doubt crypto currency is because they are either lacking the knowledge about crypto currency.

 

[Yusuf]

The major reason why a lot of companies are fighting crypto currency exchange Business is just because of the fact that they don't have power to regulate the market and that's just it