Why in some countries Bitcoin is banned

[Mvaporis1961]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

I think because they only know that bitcoin is only being used in deep web to use in illegal transactions like buying drugs and illegal firearms and other illegal stuff that you may see in dark marketplace.

[Dr.Famous]

It maybe bitcoin gambling which is banned but i don't think so using a crypto-currency is illegal.
And if it is, It will be in those countries which do not want to develop anymore or they are not even close to the whole world.
Bitcoin is not illegal but the actions done by using Bitcoins can be wrong.

~Dr.Famous~

[delliaerd]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

Obviously, it is was rules of the government and surely it has a reason. I think one of the reason is the illegal activities of using bitcoin in that country. The government try to avoid some illegal activities spread in their country, that illegal activities such as using buy and sell drug with bitcoin, terrorist transactions and many else. But the reality that rules can not really stop one using bitcoin.

[Endikadija]

in which countries? it cant be true because it is nothing illegal,but maybe you meant that it isnt used

[zodin]

yet we are hearing about this but i dont think that there is a single country who banned bitocoin. we are hearing such news for such a long time but i think still there is not a single state who have banned bitcoin yet.

[DodoB]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

Greedy authoritarian capitalist regimes don't want their people to be able to trade things without paying tax to feed the rich people.

[shinratensei_]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

Because some countries are lack of knowledge about bitcoin, and maybe have a relationship with 3rd parties can make countries try to ban bitcoin and included bitcoin to the illegal category.

[jerowacik]

because now many countries are still not daring. they are not willing to take risks. bitcoin digital currency is unstable. the government of a country still do not believe fully in bitcoin.

[Sniper44]

because now many countries are still not daring. they are not willing to take risks. bitcoin digital currency is unstable. the government of a country still do not believe fully in bitcoin.

what risk are you talking about?
the countries don't take risk, the people who are investing in crypto currencies are taking risks.

besides those countries are banning bitcoin because they are scared of it and think it can replace their money.

[Sorrowfox]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

Because they have reason why. Many in their countrymen use bitcoin to transact illegal things so if you are a president bitcoin is not already known in your country you will banned it for the sake of your country men? I think thats the reason why he banned using bitcoin in their country.

[X-ray]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

because some people with powerful position or those who has position in government, or leaders of society don't really understand what bitcoin is.

in my country bitcoin was declarated as illegal money a few weeks ago, and there are 6 proofs provided, but 2 of them are wrong. it was misunderstanding.

The intervention of 3rd parties can make bitcoin it's difficult became a legal currency, and the government it's always trying to protect 3rd parties from bitcoin. and makes bitcoin is banned in some countries.

[bitkilo]

Some countries or most are probably quite scared of bitcoin becoming big, if all their residents start using bitcoins instead of the local fiat currency then the government would have to start being a little more honest about their spending and they don't want that to happen.

They also can not just print more btc when needed so it's not suitable for the corrupt governments out there.

[serjent05]

They see Bitcoin as a threat.  Central authority like banks had been opposing the Bitcoin Idea of decentralization.  They are afraid that if this stuff is imposed, their centuries of rule will collapse.  So as early as possible while they are still in position to dictate things, they wanted to kill the competition and more likely to kill the competitor.

[Windpower]

Why should bitcoin be apposing a government. It is just a way for people like me to make an extra penny here and there. But what threat does bitcoin pose please explain to me this.

[clickerz]

Why in some countries Bitcoin is banned is the accepting of Bitcoin by  websites and that are illegal .

Maybe for some countries bitcoin is a threat to The country's banks. Because we know bitcoin has many advantages from any bank, the transaction is instant and inexpensive fee. thank you

You got it right. In bitcoin, a government has no control over it,no taxes and not profitable to government. Even Though it is banned and prohibited, still there are others who managed to use bitcoin. Hope in the future, more and more countries will accept to use the bitcoin.BTW, some country are creating their own  cryptocurrency...

[Patatas]

Some countries or most are probably quite scared of bitcoin becoming big, if all their residents start using bitcoins instead of the local fiat currency then the government would have to start being a little more honest about their spending and they don't want that to happen.

They also can not just print more btc when needed so it's not suitable for the corrupt governments out there.

Let us assume your statements are true.Somehow Government allows the use of bitcoins and replaces the fiat completely.Bitcoins are limited,its like a conventional source.No more dollar is used,what other factors you will base the bitcoin prices on ? Moreover,how would people get bitcoin ? Since fiat would completely replaced ,there is no alternative to buy bitcoins .barter trading system should be introduced again.We sure don't wanna go back to 1850.There are pretty much less to no chances of bitcoin working out with the fiat being completely replaced.

[Cyaren]

Some countries fear the greatness of bitcoin. They know that eventually their fiat monetary scheme is going to collapse while bitcoin is going to take over instead as the major currency.

Some countries also have limits on forex, which bitcoin can be used to avoid that restriction.

[salmanahmedone]

Some countries fear the greatness of bitcoin. They know that eventually their fiat monetary scheme is going to collapse while bitcoin is going to take over instead as the major currency.

Some countries also have limits on forex, which bitcoin can be used to avoid that restriction.

The biggest reason why countries  oppose bitcoin is that the governments dont want to lose  control over the Currency. If bitcoin  is used as a mainstream currency then there will be no control for the government over it. No taxes etc

[hermanhs09]

I guess bitcoin can be used as a tax evasion method, as you don't need to pay any taxes for holding your bitcoins anonymously online. As it is anonymous, people can do drugs with it as well.

I guess that's why some countries ban the use of BTC.

[SuperCoinGuy]

If I were a government official I would just legalize the use of Bitcoin in the country and acknowledge it to be a legitimate digital money system and make the population pay annual taxes. In this way Bitcoin might achieve wider adoption throughout the country and also the government will get more money by accepting it as an official currency along fiat. Perhaps the banking cartel is forcing some governments to ban Bitcoin altogether so as to avoid giving the people an alternative to their services. There is nothing worse than a corrupt government hindering the adoption of novel technologies out of pure short-sightedness and greed.