Post
Topic
Board Bitcoin Discussion
Re: why some country banned bitcoin?
by
Alopu
on 08/03/2018, 04:45:41 UTC
In most developed countries, Bitcoin is totally legal, the countries where Bitcoin is banned are mostly developing countries or underdeveloped ones. In developed countries government don’t interfere with the market and let things go according to the will of the market (more like the market is determined by Adam Smith’s invisible hand). This also is contributing to the national growth of their countries and also helping the GDP grow big. But in any case, Bitcoin doesn’t care about being legal or illegal, as long as there are people willing to do the mining, developers willing to continue developing apps or software, and people willing to accept it as money and trading happens, government can’t do anything about it. The best option for any government is just to accept Bitcoin and go with the flow, and enjoy the advantages which Bitcoin offers. In the near future the overall value of the cryptocurrency industry will become more than the value of a Trillion US Dollars and just imagine how many employment it will create. One of the core duties of every government is to ensure the employment of their citizens. Governments' from developed countries offer unemployment benefits to their citizens and underdeveloped countries would just let their citizens die from hunger, just accepting a technology will provide so many employment opportunities, which the people of those countries are currently missing because their governments refuses to accept Crypto as legal.