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Cosmos Parris
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Cosmos Parris   My Press Releases

Do You Have A Fear Of, Or Trust Issues With Bitcoin And Cryptocurrencies?

Published on 11/26/2018
For additional information  Click Here

If You have a fear of or trust issues with Bitcoin and cryptocurrencies in general, you are not alone.

My press release is prompted by the fact that on a particular product in which someone was interested and was required to pay in bitcoin. I was told that they did not trust cryptocurrencies. The process is really very simple but I see it as a fear of the unknown which has been the case in every new scenario. In other scenarios there is the fear of the lack of being in control.

 

"Why Governments Are Afraid of BitcoinBitcoin claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.” That lack of central authority is the primary reason governments are afraid of the cryptocurrency."

Banks will eventually no longer be in controf of your hard earn money. You would!

The following video brings you fully into the picture about Bitcoin and you can also do your research.

 

 

https://youtu.be/T_hBhymFfm8

 

There is little more that I could say about the subject as the above video says it all with all the reasons for you to really look beyond your fears.

If you think about it. In the 80's when the internet was emerging, people were sceptical and most had no interest. Today it is different as over the years as the internet developed it became familiar.

Credit cards had similar reactions until it became popular and was felt safe to use. However there is the matter of credit card fraud which continues, and I am talking from experience, too many to mention. So you can appreciate why someone like me would find an alternative appealing. I should add that more recently the banking system had things in place to block unusual activities observed on your card. You however in some cases find out after trying to use your card ineffectively and then contact your bank to find out what has been happening. That is not cool.

I hope you take the time to watch the video and keep informed. It is happening. The world is changing and you need to stay aware.  

 

Countries that use Bitcoin

EXCERPTS: Source Investopedia

United States:  

The United States has taken a generally positive stance toward Bitcoin, though several government agencies work to prevent or reduce Bitcoin use for illegal transactions.

Canada

Canada considers Bitcoin exchanges to be money service businesses. This brings them under the purview of the anti-money laundering (AML) laws. Bitcoin exchanges need to register with Financial Transactions and Reports Analysis Centre (FINTRAC), report any suspicious transactions, abide by the compliance plans, and even keep certain records. In addition, some major Canadian banks have banned the use of their credit or debit cards for Bitcoin transactions.

Australia

Australia considers Bitcoin a currency like any other and allows entities to trade, mine, or buy it.

The European Union

Though the European Union (EU) has followed developments in cryptocurrency, it has not issued any official decision on legality, acceptance or regulation. In the absence of central guidance, individual EU countries have developed their own Bitcoin stances.

In Finland, the Central Board of Taxes (CBT) has given Bitcoin a value-added tax exempt status by classifying it as a financial service. Bitcoin is treated as a commodity in Finland and not as a currency. The Federal Public Service Finance of Belgium has also made Bitcoin exempt from value added tax (VAT). In Cyprus, Bitcoin are not controlled or regulated either. The Financial Conduct Authority (FCA) in the 

United Kingdom (U.K.) has a pro-Bitcoin stance and wants the regulatory environment to be supportive of the digital currency. Bitcoin is under certain tax regulations in the U.K. The National Revenue Agency (NRA) of Bulgaria has also brought Bitcoin under its existing tax laws. Germany is open to Bitcoin; it is considered legal but taxed differently depending upon whether the authorities are dealing with exchanges, miners, enterprises or users. 


Read more: Countries Where Bitcoin Is Legal & Illegal (DISH, OTSK) | Investopedia https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp#ixzz5XynFYplC 

I trust this paints for you a broader picture of Bitcoin, and Cryptocurrencies and lessens the fear factor.

If you would like to know or are interested in what  I do that uses Bitcoin connect with me on:

Facebook

Skype:cozzieq1

 

 

Member Note: To comment on this PR, simply click reply on the owners main post below.
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