So today lets discuss why countries are banning Bitcoin, influencers are fighting about it, governments are threatening regulation and what it means for our money.
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So who actually wants to ban Bitcoin?
#1. Governments
Crypto is rising and so are the stakes for governments worldwide. Mass Crypto adoption is not good news for most governments due to It being decentralised…
This leaves governments fearing Cryptos like Bitcoin can be used for money laundering, illegal purchases or worst of all overcoming government control & making the current financial system irrelevant.
But why does all of this matter, well countries like the USA & China are actually looking into launching their own digital coins controlled by the central bank so effectively taking away the decentralised part of crypto that they hate.
This government coin may be quicker and help make our lives simpler, however we would be giving away a huge part of our freedom. This would be the governments dream, a completely trackable currency so no one can escape the tax man ever again… They have been trying to get rid of cash for years so this offers them the perfect solution.
#2. Banks
Bank’s don’t want to become irrelevant, which makes perfect sense really. The banks NEED us to keep depositing our hard earned cash with them so they can pay an extremely small interest rate and use our money to make huge profit.
It’s kinda genius really.. They use our money to invest at high returns and even go as far as to loan our money out to other people at high interest rates to lock in even more profits.
Banks are cracking down on Crypto as we speak, I EVEN HAD MY OWN BANK ACCOUNT CLOSED for simply investing in bitcoin!! As unfair as it is to have my bank account closed for buying Bitcoin, i’m sure the banks would say this action is taken to prevent money laundering and fraudulent activity.
But the truth is, only 0.34% of all Crypto was used for fraudulent and illicit activity in 2021 according to Chainalysis’s report in the same year and i’m certainly part of the 99% of good eggs simply trying to invest in Bitcoin.
Banks are cancelling transactions to Crypto exchanges, freezing accounts and even closing accounts to stop the Crypto boom, but is it to little too late? I think it might be.
# 3. Environmentalists
It’s not just governments and banks trying to stop Crypto, we actually have some far more understandable issues at hand.
I’m talking about environmentalists opinions on Bitcoin mining and the effects it has on our environment. I don’t think you have to be an environmentalist to understand the huge impact Bitcoin mining is having on our planet.
Many computers around the world are trying to solve complicated calculations in order to verify transactions, and whoever gets to the answer faster is rewarded with bitcoin. But competition and calculation difficulty is increasing. So in order to keep mining, the miners’s computers are requiring more and more energy. It seems like we are in a bit of a downwards spiral!
Until we find a more efficient way of mining Bitcoin I wouldn’t be surprised to see more headlines similar to the ones we have just discussed. It’s definitely something i’ll be watching out for when it comes to Bitcoins price point moving forward.
#4. Regulation
It’s unfortunate that people are losing their life savings investing in things they don’t fully understand and some people are being flat out scammed
Slight regulation could potentially be huge news for Crypto as long as the regulation is to combat crime and doesn’t make investing more difficult.
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39 comments
Hello mark I am from Greece and I am thinking to invest some, do you have any link for Europe ?
HODL 🙂
They also ban shirts with dots is this a colorblind test?
Crypto is gambling.
The only people talking it up are those who have invested in it. They don't want to be the ones holding the empty bag when it all ends.
Bitcoin will always be around, it will just end up being quite worthless.
3 words, Monero, Pirate Chain
They are slowly encroaching our civil liberty. I am a UK citizen and I want to be able to spend my money where I want. Barclays bank should not disable me from spending money my money wherever i see fit.
Bitcoin and 99% of all current cryptoes is getting nukes because it was created by crime syndicates that used them for human traficing and other nasty stuff.
No one wants to talk ab the environmental impact. There won't be any BTC fluctuation when we're we're dead lmao
In Denmark we have started paying negative rates in our banks, so I have invested almost all of my money
yes pls fuck the crypto give my normal gpu prices THANKS
Pretty much the most effective way to stop scams is to build a future of good manners and people. Children are the future, y'know.
Words from a fellow crypto investor.
I hate waiting days or weeks for money to be deposited, I dont use cryptocurrency, but that is one thing what seems to be inviting to use cryptocurrency, I dont want to wait days weeks etc because some bank is investing it etc.
Faze knew what they were doing, at the very least Kay did. They sold it saying it's got whale protection then intentionally removed it from the coding so it was tradeable within 5 minutes, and instantly sold at the 5 minute mark. Absolutely a 0% chance that anybody within the brand was innocent.
The only reason governments want to ban crypto is because they want to lock us into the fiat currencies they use to steal from us through fractional reserve banking and money printing.
They can't ban bitcoin its impossible
TELL THEM INCLUDING CHINA TO POSS OFF.
I hope that you will be my dad in my next life
and then people run to physical gold. and then they forbid that. and then you know whats going on.
not your keys not your coins guys
I only started my investment journey this year. I started with vanguard, but was considering jumping on the crypto bandwagon. I hesitated for 2 reasons. 1. At the time, bitcoin was booming, growing far faster than common sense suggests is sustainable. But 2, I couldn't figure out what tangible thing the value was tied to. With stocks and shares, even if you don't fully understand the formula, it's easy to understand that you're buying into things linked to actual companies doing actual business. Crypto seems to be linked exclusively to the tenuous fuzziness of people's collective imagination. I hesitated, and I'm glad I did, because while I was still pondering it, the first stories started to break of bitcoin taking a nose dive.
Whining about banks closing accounts in 2021 just show how much of a noob u r
Right ✌️✌️
Investment is pushing it a bit , it's pure speculation , maybe it will a brilliant investment but it's unknown right now., Could be banned next year , then again it could be $1 million dollars , russian roullette . Crypto is the future but not necessarily any of the coins currently available . A well balanced portfolio of shares , bonds, property, pension , gold and yes Cryptos, get some by all means but don't remortgage your house on it. Your advice to don't invest what you don't understand is good shame you aren't following it, true you can't sto the Blockchain but banning exchanges, accepting cryptos for good and services and transfers to and from fiat along with current anti money laundering measures will make your investment inaccessible.
I think you are right. But banks also serve a important role in investments. Without being able to lend money, banks are useless BUT MORR IMPOTANTLY, companies cant invest
I love it, cant wait for graphics cards to be available.
Lol crypto will not be ban
BITCOIN already banned in my country 🙁
It’s already regulated by Companies like Coinbase.. You can only deposit a limited amount into your account every week.
I think that Elon bought bitcoin just to inflate the price and then cause a sell frenze when he sold causing damage to the market by overflooding the supply and causing supply and demand issues with the currency then after that the government starts taking swings at it. It's just a team beat down from those who stand to lose the most.
You think Mining for bitcoin is bad for the environment what about mining for gold and silver people move mountain tops to find that stuff
Some Crypto is blatantly bad for the environment, slow, used by criminals, frothy in value and jacks the price of GPUs. I've never seen anyone buy a cup of coffee or a pint of beer with it. The only purchases I've been aware of with bitcoin is folk buying cannabis off the silk road a few years back.
Api3 theta egld theta KTN get some like Tamagotchis poppets . Fidget spinners . Oh and xlm the new Swift system. Iso20020 look that up and tell me that it's not all about blockchain
They want to ban crypto because they can't control it.. Once you swap to crypto currency you have your transaction freedom, this is what every government fears!
You're not going to hear this from any credible sources, but the crypto crash is directly tied to the AMC/GME squeeze. The news about possible bans/regulations is just an added catalyst
PC gamers would actually love that. Ironically, if they themselves made good use of bitcoin, they would be able to buy whatever PC hardware they like.
so how am I meant to buy crypto if my bank is not allowing me ???
good luck to these guys to ban the utopia ecosystem. or defi. or the binance ecosystem
Are you still investing?
wow! Thanks for the video
Great thx. Bitcoin our future digital store of value.