If countries should accept the use of Bitcoin and other Cryptos.

[Ahmedo24]

We can all see that most countries don't and are not ready to accept Crypto currencies simply because they feel it is too volatile, it can't be control by the government and it could crash the economy of the country. The current bearish moment in the Crypto currency market could justify why most low income countries don't want to accept.crypto Currencies for their transactions.

In your opinion do you think if all countries of the world accept the use of cryptocurrencies for their transactions it could curb the sharp drop in price of Bitcoin and other cryptocurrencies by just a tweet from influential figures or whales and possibly reduced the fact that only few people control the Crypto currency market.? Let discuss.

 

[Samuel72]

if countries should accept the use of cryptocurrency I think the price of cryptocurrency will continue to increase and the value will rise up in the marketplace but the fact that many country has choose not to accept cryptocurrency it seems like the price will continue to go down and bearish will not stop

 

[Ahmedo24]

if countries should accept the use of cryptocurrency I think the price of cryptocurrency will continue to increase and the value will rise up in the marketplace but the fact that many country has choose not to accept cryptocurrency it seems like the price will continue to go down and bearish will not stop

Yeah you have a very strong point because any commodity or asset that only very few people controls that is bound to be more of losses than gains because the twist it the way they want we can imagine the number of people who have lost their money in Bitcoin investment and some whales are taking this advantage to buy more.

 

[Sotherefore]

If the world countries should accepts bitcoins and other cryptocurrency as a general mode for payment of goods and services they will be a serious increase in the price of all cryptocurrency because millions of people will now focus on cryptocurrency for payment of goods and services.

 

[Ahmedo24]

I guess lots of people are willing to dive into this cryptocurrency trend because of the fact that the government of different countries especially Africa are yet to legalize the use of cryptocurrencies many people are sceptical about it and I also feel that if all countries accept it more people will hold it and it will be difficult to remove the market.

 

[btaliat]

It is not possible for all countries to accept cryptocurrencies because of their economy. Let assume all countries have accepted cryptocurrencies and this bearish happens, what do you think will happen to the economy of the world? Besides, ignorance won't allow everybody to accept the concept of cryptocurrencies.

 

[Ahmedo24]

It is not possible for all countries to accept cryptocurrencies because of their economy. Let assume all countries have accepted cryptocurrencies and this bearish happens, what do you think will happen to the economy of the world? Besides, ignorance won't allow everybody to accept the concept of cryptocurrencies.

In my opinion If all countries has adopted the use of cryptocurrencies will be more spread such that the government of different countries will hold more than what the private individuals are holding currently so tweets may not really affect the coin as such and more countries might have been engaged in China unlike now that most mining activities are concentrated in China.

 

[Alexandoy]

If the crypto currency will be allowed in all countries like real currency then so many will get poorer. There is a study that ordinary investors like us are like gambling because we are speculating. We buy now and hope that next week we can sell for a gain. But if the coin does not increase in price then we can even lose if we sell.

 

[Ahmedo24]

If the crypto currency will be allowed in all countries like real currency then so many will get poorer. There is a study that ordinary investors like us are like gambling because we are speculating. We buy now and hope that next week we can sell for a gain. But if the coin does not increase in price then we can even lose if we sell.

I think that is the aspect the China is warning people against speculative buying but to an extent is inevitable because even in stock or forex trading it's more speculation, the only thing I believe is that if more people hold the coin the fluctuations can be very minimal and controllable.