Quote from: Agbe on Today at 05:48:24 PM

Quote from: F2GIRL on September 04, 2023, 06:47:02 PM

Governments frequently misunderstand bitcoin innovation.
This impression arises from the disproportionate bans and regulations they enact.
Although occasionally the bitcoin regulations appear unreasonable, I posit that bitcoin is not as detrimental as suggested. Please correct me if I am wrong.

I might agreed with to some extent because the first time when most of the government banned bitcoin they thought that bitcoin is an illegal innovation but later when they discovered that bitcoin is not illegal, most countries accept it indirectly and I am using my country as an example. My country CBN banned bitcoin and later, the vice president of the country suspend the ban though the ban is still have effect but it is not as serious as the first time again. And now government understand bitcoin very well and the only thing that holding them down not to use bitcoin is the fear that bitcoin will dominate the Fiat currency and they can't control bitcoin because of the decentralised nature.

Banning Bitcoin does not mean that it is an illegal currency but the government thinks that they ought to control the market and the first thing they need to do is to limit people from having access to Bitcoin so that more users will have no option to transact Bitcoin as a method of payment and services. The government knows how they do there thing and we shouldn't be surprised if more countries would have to put limited restrictions on Bitcoin so that it would not have affect on the economy. The government don't to ban Bitcoin but rather they can regulate it and get there tax from it..