Still England And China Refuse Bitcoin

[rjroshan 0]

Like so many other countries, The bank of England has been said, that they cant accept bitcoin as a legal currency and they have explained further that bitcoin doesn't satisfy any currencies and it's volatility and very bad acceptance rate. The most important thing is so many other counties like china has also the same problem with bitcoin. 
What do you feel about this and is this bad effect on bitcoin's future

[hasn 0]

All countries of the world are afraid of changing the major currencies in the world, especially as the cryptocurrencies are not clear who is secretly supporting them
Any currency requires a general acceptance by society in order to preserve its value

Belief in cryptocurrencies increases its value

Edited January 18, 2020 by hasn

[Migo 7946]

This is bad for bitcoin and every bitcoin earner, countries like England and China will be so great if they accepted it, and the power of bitcoin will be more than now, but unfortunately it does not happened, anyway maybe in the future they will change their minds 

[bliznec 22268]

But there is a certain layer of the fact that in China there is some superiority in cryptocurrency transfers. This can be traced using special online services. 

[Afrizal rahman 2636]

I think China makes their own Bitcoin currency, so I think China accepts and makes digital currencies for their own country. For me the future of Crypto remains and will even be accepted by the state later.

[Great Commander 659]

If countries specially those that are 1st world, it would probably affect the spreading of bitcoin and would likely result to poor promotion. 

[BTC Future 3946]

Price volatility is not a big issue in my opinion. The main reason they don't accept Bitcoin as a currency is the adoption levels. We are talking about opening markets and using cryptocurrency but this is just theory yet.

In practice even the merchants that accept cryptocurrencies don't actually have many customers that use them.

In reality what we watch is just speculation and a huge gamble going on. This is what we should change by promoting the use of crypto for it's purpose and not for speculation.

[gigabyteRTX 1583]

Well, I understand the both countries maybe England is not that open and trusting the use of crypto but maybe later on as the many technologies are arising and some of them is powered by crypto then maybe someday they try to explore it and for the case of china I know why they can't accept bitcoin because they are developing their own currency so that they have the control to it.

[sdsonjoy50 886]

 

I think it's best not to allow crypto currencies to run like cryptocurrencies, cryptocurrencies will not be exactly as fiat currency, crypto currencies have become popular with people while intolerance, and I think bitcoin consumption will increase.

[Rahul21 626]

It is true that some countries will actually reject Bitcoin, but I think that if China and England actually accept it then the value of our cryptocurrency will go further.  So cryptocurrency is actually acceptable in all countries. I think it would be good, not everyone could accept the rejection so it needs to be replaced in all countries.And Bitcoin is not bad for our future but it is very important for our future money.

[Luciferludz 1442]

5 hours ago, Great Commander said:

If countries specially those that are 1st world, it would probably affect the spreading of bitcoin and would likely result to poor promotion. 

Sure we really need the big support from those greatest countries in the world, because they have the big power to make the bitcoin to grow

[PiroSense 2681]

16 hours ago, rjroshan said:

What do you feel about this and is this bad effect on bitcoin's future

These governments are just stating facts. Using a currency that is too volatile would definitely lead just to a greater confusion, and difficult to regulate projects in the market that most likely are scams, and also to note that thefts in cryptocurrencies are almost impossible to retrieve and solve the case, unlike in fiat where they can monitor everything.

 

Also, using decentralized, anonymous cryptocurrencies would make it a better ground for illegal activities to be conducted and paid into, since they are untraceable.

 

So thus, their solution is either to disregard it, or make their own cryptocurrency, like what China does.

[bentayebsalah 2280]

It does not matter that it is accepted. The important thing is that it is a strong currency and has great features that can be taken advantage of and there is no concern if England and China do not accept bitcoin

[Rudro88 371]

Bitcoin was not legally accepted in England and China because it could not satisfy everyone who said it was coined.  So I think that if Bitcoin is legalized in England and China, then there will be a lot of interest in cryptos from different countries and different countries will be accepted in this way.  So for all our crypto users, this is what Bitcoin hopes to be.

[rajonmia 181]

That is not big problem. But they will accept bitcoin in future. Many reasons have in this cause. Everyday Bitcoin popularity increase. Also many countries recently accept this coin. 

[Beeba 240]

The bitcoins is decentralized currency in this way any country cannot accept its risk any case of flop of bitcoins. If the bitcoins is centralized then accept many country.

[mani982 286]

This is the start of bitcoin and crypto Adoption do not panic and fear about that soon after some time Many countries Announce that they are launching there own Official crypto.

[Opinder 1310]

On 1/18/2020 at 5:57 AM, rjroshan said:

Like so many other countries, The bank of England has been said, that they cant accept bitcoin as a legal currency and they have explained further that bitcoin doesn't satisfy any currencies and it's volatility and very bad acceptance rate. The most important thing is so many other counties like china has also the same problem with bitcoin. 
What do you feel about this and is this bad effect on bitcoin's future

One big reason for this is that bitcoin is working as asset for speculation at the moment. Its price is fluctuating so no one could use it for payments. If it becomes stable then all countries would accept it. It may effect bitcoin negatively because btc only depends on demand and supply thus it would be volatile forever.

[maricans 401]

On 1/17/2020 at 4:27 PM, rjroshan said:

Like so many other countries, The bank of England has been said, that they cant accept bitcoin as a legal currency and they have explained further that bitcoin doesn't satisfy any currencies and it's volatility and very bad acceptance rate. The most important thing is so many other counties like china has also the same problem with bitcoin. 
What do you feel about this and is this bad effect on bitcoin's future

yes it's true that until now that many countries that still don't have a positive approach to bitcoin, same thing with england that don't consider bitcoin in any currency as what they did in the euro currency and the european union, nonetheless like keep in positive way that some day, some how they will chance their views about bitcoins

[Lunaa 238]

China haven't accepted bitcoin yet by they only accepted the blockchain technology. I think it's only right that they refuse to accept bitcoin because of the volatility is very out of control. Which could be dangerous if the people who wants to use them doesn't understand that one

[deepown 0]

Central bank in England recently added crypto currency to it's system so i don't think that's true.

[Soaib khan 1035]

Yes I think this effect on bitcoin future china and england big countries I don't know why china or england not accepting crypto currency.

Edited February 6, 2020 by Soaib khan

[Investors Blog 385]

No country will accept bitcoin as a currency since it will make their own fiat currency questionable in nature. But they cannot people from using bitcoin and other coins. All they can do is to regulate the market and to ensure every platform are compliant to regulation.

[Sid 589]

I don't think this is good news for bitcoin, hopefully in the next few years they will change their minds about bitcoin. I hope the popularity of bitcoin will continue to rise even though many countries have not legalized bitcoin

[suzuya 945]

This is not really good for bitcoin because most of the people who are really into investing are from the countries like England and China. Also I think China doesn't want to accept bitcoin because they will be releasing their own coin, they don't want bitcoin because they can not control it.