Why boycott Bitcoin (why does the country oppose Bitcoin)

Why boycott Bitcoin Why boycott Bitcoin? The emergence of Bitcoin has sparked suspicion among many friends. Because Bitcoin is the only decentralized currency system in the world, its development not only has an impact and destruction on the world, but also brings a new challenge to people. But for many people, it is not a bad thing. Although Bitcoin has been around for many years, we cannot find any benefits or the ability to help ourselves achieve our goals from it. If all these defects are attributed to a vulnerability or something else in the system, then there is no reason not to do so Therefore, we need to consider two issues: firstly, how to ensure the safety of assets in terms of security; The second is whether there are any security risks in the Bitcoin network and the negative consequences they may have. Bitcoin was attacked because it is an unrecoverable network, and because it is highly scalable and vulnerable to 51% attacks, it has attracted a large number of users’ attention (for example, there are many problems about Ethereum on Reddit). When someone believes that blockchain can provide a higher level of data storage function than the internet – that is, blockchain can verify its authenticity and eliminate hacker intrusion behavior through computing power – this situation occurs

So I believe that these two solutions can create great value for participants in the Cryptocurrency ecosystem. Why resist Bitcoin? To understand this, let’s first understand what “counter-terrorism elites” are:

1. Don’t be afraid of inflation (FOMO), you should avoid holding your Bitcoin. If you want to buy some gold instead of stocks, you don’t need to worry about price fluctuations, but you need to use your own money to buy Bitcoin, which is the meaning of investing Don’t forget that Bitcoin is a speculative financial tool. You can exchange Bitcoin for cash, then exchange fiat coins for gold bars or legal digital currency, or even make payments directly

3. Do not abandon the US dollar or the euro as a way of saving, or you will never use it as a Medium of exchange again. Now everyone must convert Bitcoin into another currency, just like in the past, as long as they can accept Bitcoin payments, they can earn more profits

4. Do not be greedy, as it will cause your wealth to continuously depreciate

5. Do not feel like you just want to become rich overnight, because it is a gamble.

. You only know that those who make money must be scammers 6. Don’t think that everything you have alone is a good outcome (assuming you have a small white account and he tells you everything)

7. Don’t be overly excited, no matter how you work

Why do countries oppose Bitcoin

Editor’s note: This article is from BlockBeats (ID: blockbeats) and is authorized for reprinting by Daily Planet.

Why does the country oppose Bitcoin? The country’s view on Cryptocurrency is as follows:

“We don’t think that Bitcoin is a form of payment, but a means of value storage.”

Bitcoin is regarded as a digital gold and Fiat money, and is increasingly popular in the global economy. However, many governments in countries have not seriously considered this asset and only want to allocate it as part of their investment portfolio. For example, former US President Obama once convinced people to use Bitcoin, but now he insists that the asset is illegal: “I think this is unacceptable,” so these central bank officials even refused to purchase or sell unofficial currencies such as Bitcoin. But what if a country really supports Bitcoin

According to the statistics of the World Bank, the central banks of more than 20 countries are currently reviewing their private Cryptocurrency policy, which is expected to be approved in the next few years Nevertheless, some countries have begun to adopt Bitcoin and other digital tokens as payment methods For example, Russia, Ukraine, Iran, North Korea, Qatar, etc. The reason why these countries take this action is because they attempt to improve efficiency by restricting transactions or allowing users to exchange directly with their individuals, which can reduce money laundering behavior; Secondly, as most people do not like Bitcoin and other alternative virtual currencies, they may use them as international trade settlement tools

Then the question arises: What has promoted Bitcoin and other Cryptocurrency to become legal currencies Because central banks in various countries refer to their digital currencies as “sovereign currencies” or “private sector regulations”. That is to say, they can freely obtain funds from any central entity, rather than just exchanging funds between financial institutions. “When you have a specific type of currency in your account, you can use anything you hold to exchange for another kind of goods – just like buying and selling stocks.” In addition, some major countries are also actively exploring how to let Bitcoin and other Cryptocurrency enter the mainstream society and achieve the goal of cross-border capital flows. For example, Japan has proposed a similar idea, planning to launch a new digital asset called “NFT” (non homogeneous token) in 2020. Several other countries have expressed support for Bitcoin as a “sovereign currency”

It is worth noting that Janet Yellen, the Minister of Finance of Canada, recently expressed his concern about the prohibition of blockchain technology. The minister pointed out that “there is no need to establish a password based method to protect users’ information security and privacy. To ensure that Bitcoin and digital currency can function like certain applications on the Internet, an effective regulatory framework needs to be established.”

Although citizens of some countries cannot fully control their Bitcoin and digital currency, many countries still want to maintain their legitimacy.

, And continue to encourage innovation.