Post
Topic
Board Economics
Re: Reason why other ban cryptocurrencies
by
andriarto
on 12/12/2018, 03:57:56 UTC
The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

The government is the number one enemy of cryptocurrencies. The main goal of cryptocurrencies is to offer freedom to the people. Cryptocurrencies is the most effective way to transact with complete anonymity. It is sometimes misused for illegal transactions. Bitcoin is used in the blackmarket for drugs and other illicit product, another reason why the government wants to regulate it. But the things is, cryptocurrencies cannot be controlled, it will defy its main purpose.
all new things must pass through government, because we live in a country. and I think government is not an enemy, even though it inhibits the development of bitcoin