Author Topic: Why most countries are likely to ban bitcoin  (Read 4 times)

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Why most countries are likely to ban bitcoin
« on: June 12, 2019, 05:47:25 PM »
In 2018, something terrible happened in my country. Many people who have had adequate knowledge in bitcoin from 2016 opened an investment companies. These companies took people's millions of money with the aim of investing in bitcoin. These people added bitcoin to their companies name. So bitcoin became widely known. I believe we all bear witness what happened in late 2017. The price shot to almost $20000 so they were able to pay the interest in the people's investment for them. Unfortunately, in early 2018, the price started declining and investors dividend were not coming. This raised an alarm in my country and many of these companies collapsed. People investment were lost and the issue even went to parliament. A directive from the central bank in my country came that bitcoin is illegal and people were arrested out of that. Now the fate of bitcoin in my country is shaking. I am by this post admonishing everybody who wish to open such investment company like that to alert the customers on the risk involve. No fixed interest rate should be set for them every month because you are not regulating bitcoin with the aim of price increment at that period of time. There is always a fluctuations in the price of bitcoin. Informed consent is always the best and let's encourage people who want to invest in bitcoin to study more and have adequate knowledge about it.

On a more serious note, I think crypto enthusiasts are part of the reason why most governments want to ban bitcoin in their country. Please let's all share our ideas and experiences.