The banking system opposes Bitcoin as they are emerging as the original banks with only a little pay charge when compared to real-time banks. Why does the government oppose? When there is no need for the service of a bank, there will be no need for the workers in there. The power and authority are at risk for them. The result is the need for the elimination of the competitors at any cost.
The step took by the government
So, the government has to interfere with the conflict by solely banning it in some places of the world. Yup, there are some governments which have gone to the extent of illegalizing the Bitcoin.
Does it affect the Bitcoin system?
With currency exchangers around every corner of the street, the banning is impossible. Instead, it serves as a Payless advertisement to the btc price system.
Well, why not the Bitcoin. They are safe and secure more than a real bank. They can be used in any part of the world. There is no restriction on what currency should be given or taken. They don’t have an authority or power hunger person in the background. They are so much like Switzerland when it comes to currency exchange, neutrality. They don’t favor a government or a country. Mostly there is also the availability of free Bitcoin.
Many controversies and rumors have been going on around the concept of Bitcoin. From the rumor about them are the illegal crypto currency to that of them being leaders of the destruction path of the economy. This creates a rumor and havoc among the consumers.