The government in most countries have decided to ban Bitcoin and cryptocurrency as a whole. I begin to wonder why the government for these countries have taken such an initiative. Any idea on the benefits bitcoin offers to the economy? Help me convince my government to accept Bitcoin.
Bitcoin money transfers are relatively low cost compared to international bank transfers. Sending money abroad using Bitcoin (or other Cryptocurrency) can be done without using any banking system.
Bitcoin can not be created or dumped by national governments and is therefore not affected by inflation. Citizens of undeveloped economies can buy bitcoins to protect their money against the devaluation of the national currency. The same thing applies to USD, GBP and Euro.