Why in some countries Bitcoin is banned

[bitbaby]

I think some countries ban Bitcoin just because they are not able to effectively control it. They cannot renounce control, so they ban.

Not neccessarily because potential illegal activities, but to keep things controlled

Bitcoins can never be controlled, even if the Government doesn't come in support of bitcoins, people would continue to use bitcoins by any means, bitcoin is banned because Governments and Banks are fear of bitcoins and they view bitcoins as threat to their businesses and entire banking systems which is controlled by Government.

Of-course a country cannot stop its people from using Bitcoin but they can stop businesses and exchanges in their country to accept/trade in bitcoin and it affects people as they can't buy/sell bitcoins easily and when that happens you have to rely on e-wallet services and trade internationally because you cannot trade directly through your bank account and it's not that cost effective.

[ranochigo]

I think some countries ban Bitcoin just because they are not able to effectively control it. They cannot renounce control, so they ban.

Not neccessarily because potential illegal activities, but to keep things controlled

Bitcoins can never be controlled, even if the Government doesn't come in support of bitcoins, people would continue to use bitcoins by any means, bitcoin is banned because Governments and Banks are fear of bitcoins and they view bitcoins as threat to their businesses and entire banking systems which is controlled by Government.

Bitcoin cannot be banned but the adoption rate can at least be controlled. Government can choose to close down exchanges and spread bad news about Bitcoin and the citizen won't have any exposure to Bitcoin. If the country have a firewall like the GFW, they can prevent node IPs from connecting and restrict Bitcoin websites.

Usually bitcoin identic with terorist. They usually use it for untraceable transaction purpose.
As we know , some countries might ban bitcoin with those reason

They can't be banned completely. Terrorist fundings can usually be reduced by implemented AML/KYC policies in the exchanges. By banning them completely, the trades would only go underground more.

[bob123]

Governments just want to have control about everything happening in their country.
They dont want to lose even just 1 cent to not payed taxes.
Additionally they think its anonymous which means that everyone using bitcoins does illegal stuff

#NorthKorea

[caliboy37]

It's banned because of security. Bitcoin is anonymous don't forget.

[bob123]

It's banned because of security. Bitcoin is anonymous don't forget.

Its not anonymous.. its pseudo anonymous..
A lot of people just believe its anonymous

[smiletyson]

In some countries bitcoin is thought damaging the local currency. For instance in Kyrgyzstan national bank had banned bitcoin because of this.
www.nbkr.kg/searchout.jsp?item=31&material=50718&lang=ENG

[Amph]

It's banned because of security. Bitcoin is anonymous don't forget.

Its not anonymous.. its pseudo anonymous..
A lot of people just believe its anonymous

because it is if you only move funds from one address to another, then you can always exchange face to face, how this is not anonymous?

[abokhalel2]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

[harizen]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

[BombayChicken]

I think they don't want that people buy some illegal stuff.

Or that Bitcoin the won't be good for the economy in that country.

[rektDude]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

I think they ban bitcoin because they don't gain anything from bitcoin and it's not controlled by some corporate company that they can control.

[ObscureBean]

Bitcoin's anonymous nature is not something any government would be thrilled about, I suppose some are more paranoid/strict/wary than others. 'Banned' is just the official stance though, they can't really stop people from using Bitcoin and they probably don't spend a lot of resources trying either.

[kryptqnick]

There are no excuses for Bitgcoin to be banned IMO. It's just a currency, whatever ppl involve it in shouldn't affect the legality of it.

[harizen]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

I think they ban bitcoin because they don't gain anything from bitcoin and it's not controlled by some corporate company that they can control.

Actually if government will centralized bitcoin in one country, they will gain taxes from all bitcoin transaction in one country by inserting some government transaction into a system. In this way, country will be benefited by bitcoin. For example, bitcoin> party > tax. How? That is the missing link. It's just a matter of how the government system will apply the system like the normal fiat does.

[GannickusX]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

I think they ban bitcoin because they don't gain anything from bitcoin and it's not controlled by some corporate company that they can control.

Not true and again bitcoin is only officially banned in 2 countries. It's obvious most countries dont give a shit about bitcoin, people here think bitcoin is like a super huge currency but the truth is quite the contrary. Terrorists are not using bitcoins, they have been using normal currencies before and they wont change now.

[Newcoins2020]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

I think they ban bitcoin because they don't gain anything from bitcoin and it's not controlled by some corporate company that they can control.

Not true and again bitcoin is only officially banned in 2 countries. It's obvious most countries dont give a shit about bitcoin, people here think bitcoin is like a super huge currency but the truth is quite the contrary. Terrorists are not using bitcoins, they have been using normal currencies before and they wont change now.

Some countries don't acknowledge bitcoin as a currency yet they do want to make you pay taxes and see bitcoin as an income.

[HostSurf]

There are no excuses for Bitgcoin to be banned IMO. It's just a currency, whatever ppl involve it in shouldn't affect the legality of it.

Well, it obviously is effecting the government on the decisions they make. I think that if they're not accepting bitcoin as an official currency they shouldn't let you pay taxes over them

[lilynancy]

Don't really get it what exactly are you trying to question, but Bitcoin use is frowned upon on several countries do to it's volatile nature and because it represents a threat to governments... Also, wrong section, this should probably be on Discussion

very good  agree with yours

[zivone]

It's just means that government can control everything including bitcoin. Well I said that since I read some thread saying government can't control bitcoin or bitcoin is a threat to fiat.

[Yakamoto]

I think the main reason for governments banning bitcoin is because they think it's a threat to their currencies.

What kind of threat? Main currency crash? I think no or if ever some countries think that, I will assume for only 5% of the whole reason or factor. Actually if Bitcoin will bloom in the future still main currencies of some countries will not totally replace by a whole.

I think they ban bitcoin because they don't gain anything from bitcoin and it's not controlled by some corporate company that they can control.

Not true and again bitcoin is only officially banned in 2 countries. It's obvious most countries dont give a shit about bitcoin, people here think bitcoin is like a super huge currency but the truth is quite the contrary. Terrorists are not using bitcoins, they have been using normal currencies before and they wont change now.

Source for which countries have officially banned Bitcoin?

I'm not trying to disregard your claim, but I'm curious to see where the information came from, as I've heard many different pieces of information regarding the legality of Bitcoin in different countries throughout the world.

I agree with your comment on how people think terrorists are using Bitcoins all the time, when in reality, they take up only a small portion of the Bitcoin users. Typically it's only a rumor that terrorists used Bitcoin for "x" event, however I don't have any statistics to back that up, so feel free to refute me if it's wrong.