"Iran is borrowing a page from China when it comes to regulating money: if your real-world currency is in trouble, crack down on the virtual kind. The country's central bank has banned other banks and financial institutions from buying, selling or promoting cryptocurrencies in the wake of reforms meant to quell volatility for the Iranian rial, such as banning money changes outside of banks and unifying exchange rates."
Iran bans Banks from trading Crypto-currencies
- Thread starter Ink
- Start date
Good move.
I don't like crypto-currency at all. I agree with what Bill Gates has said about it... You can argue that you can launder money and buy illegal goods with normal, real currencies and this is all very true, however crypto-currency definitely makes it a lot easier for criminals to do it based on how crypto-currency was invented (and what it was invented for - to be more anonymous), not to mention crypto-currency tumbling.
A lot of people are investing in it to try and make themselves rich but a majority of them do not realise that it can go horribly wrong at any moment and that there is no guarantee that will make even a penny. It's really risky. In fact, I would consider it the same as "gambling" because you're throwing money around and HOPING to make more, but it isn't guaranteed that you will.
Furthermore, the more people that invest because of role models telling them to are being cheated because the only reason famous people tell you when to start buying crypto-currency is because they are trying to sell their own and make a profit thanks to the fools listening and buying the crypto-currency of those telling them to do it. Not to mention that the more that buy crypto-currency, help criminals make a profit who are selling their crypto-currency anonymously after tumbling it several times.
Therefore the more bans the better IMO.
I don't like crypto-currency at all. I agree with what Bill Gates has said about it... You can argue that you can launder money and buy illegal goods with normal, real currencies and this is all very true, however crypto-currency definitely makes it a lot easier for criminals to do it based on how crypto-currency was invented (and what it was invented for - to be more anonymous), not to mention crypto-currency tumbling.
A lot of people are investing in it to try and make themselves rich but a majority of them do not realise that it can go horribly wrong at any moment and that there is no guarantee that will make even a penny. It's really risky. In fact, I would consider it the same as "gambling" because you're throwing money around and HOPING to make more, but it isn't guaranteed that you will.
Furthermore, the more people that invest because of role models telling them to are being cheated because the only reason famous people tell you when to start buying crypto-currency is because they are trying to sell their own and make a profit thanks to the fools listening and buying the crypto-currency of those telling them to do it. Not to mention that the more that buy crypto-currency, help criminals make a profit who are selling their crypto-currency anonymously after tumbling it several times.
Therefore the more bans the better IMO.
- Jan 16, 2017
- 1,469
Totally agreed. I wish they didn't exist in the 1st place.
People can argue it as much as they like but as far as I am concerned, being involved with crypto-currency is a good way to aid criminals make a profit from their dirty virtual currency and lose all of your money from dumb, idiotic investments.
You wouldn't walk into a Casino and splash a grand with a very small chance you will win anything (because obviously many will be rigging it whether it is legal or not otherwise everyone would be a millionaire), would you? If you would then you probably have a gambling problem unless you were super rich and could afford it without a sweat. Investing money like that in crypto-currency is no different IMO, because there's no guarantee you will make anything back and all the crypto-currency role-models are just there to tell people when to buy so they can sell their own and make a profit.
Several crypto-currency platforms have been hacked in the past as well. It's a virtual currency, so who reimburses those who lost their coins from a breach? Honestly I doubt anyone does. It's not a "legal" currency in terms of the law, it's just virtual. It's just dangerous to invest in it on so many levels unless you don't care about your money IMO.
It's just a really crap invention IMO. People are out there in the world trying to do all kinds of new, important and creative stuff... and then there's people trying to make crypto-currency get bigger. Doing nothing useful with their life. Except hoping for a dream to come true while wasting money which will probably not happen.
If crypto-currency was good, everyone in the world would be rich except that isn't how the world works. While you are wasting your money hoping for a miracle after being brainwashed by the media, the platform is making millions from the thousands of people actually believing they will get rich.
- Jan 16, 2017
- 1,469
Agreed again Opcode. Crypto currencies will really help criminals among other things you mentioned. The anonomity and motivation it gives criminals is alone enough reason for me to not want crypto currencies in the world. It makes crime so easy, thats the last thing I would want.
If it wasn't for crypto-currency, ransomware would not be as prevalent as it is right now. Sounds far-fetched, right? However using pre-paid card codes to redeem payment can be riskier as it isn't AS anonymous and requires more work for the attacker to perform.
- Feb 14, 2016
- 648
I have some crypto currencies myself and got a good amont of money from there alrdy. Why u blame the crypto currencies for easy ways for criminals? Blame the system in that we life that criminals even exist. Thats nonsense. Sure criminals can abuse it because its way more anonym than normal money(paper printing from the air-dollar) but thats not the fault from the cryptos. I dont know why everyone here hate it so much. Maybe get abit more into it and see the whole potential.
The only potential I have witnessed is people thinking they will become rich or criminals abusing it to aid them in money laundering and ransomware operations... That, and draining system resources or hogging hardware from shops to mine virtual currency so everyone else after the same hardware for an actual use like relaxing for gaming while they aren't at work on their singular day off each year can't get their hands on it.
Everything good in the world can be abused by criminals, I don't deny it. But I just think that there are more negatives than positives with virtual currency. I've witnessed absolutely nothing good of it since it originated.
Maybe I am blind and I am interested in hearing your side of it, I wasn't trying to offend anyone. I just have not witnessed any actual good usage of it.
I am interested in hearing more from you regarding the good potential if you're happy to do so.
I see people constantly talking about the "benefits of crypto-currency", but none of them have ever actually mentioned what those benefits exactly are.
- Jan 16, 2017
- 1,469
It offers high level of anonomity so naturally criminals will abuse it to no end. Imo It has more negatives than positives. Ransomware problem is so high and one of the main reason is crypto currencies. Its what people in dark web markets like drugs, child pornography and other illegal activities use. Someone can abduct your child and demand payment via crypto currencies. It will be very hard to catch the criminal , more so than with actual money unless they are careless idiots. If there was no crypto currencies which offer this much freedom, these crimes would be much less. You may bring privacy topic to this but imo there should be balance between freedom and restrictions as well as privacy and exposure. Too much of either side is harmful. Example, crypto currencies offer too much privacy and Governments, Google, Facebook, MS etc spying results in too much exposure of personal data. There should be balance between both.
- Apr 5, 2014
- 6,008
nothing new,they ban every thing that they can't control it same as any other dictatorship country
BitCoin is not crime,U can use knife for cutting bread,cheese.... Or Kiling people this not mean that we ban selling knife!.....
BitCoin & any crypto currency are the next-gen of money,soon or late all of them should accepted it
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