Why in some countries Bitcoin is banned

[ning_chang]

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

maybe they need to band bitcoin in their country because they earn money by bitcoin. they get the money they worked for. so maybe the same reason. why do they need to band bitcoin.

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[PsursV]

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

maybe they need to band bitcoin in their country because they earn money by bitcoin. they get the money they worked for. so maybe the same reason. why do they need to band bitcoin.

i think it is not still conform. these are just news spreading in the market but not yet conformed. i think we are just hearing the news in social median i still never hear such kind of news on print median or electronic media.

[Cryptonitex]

I have seen a map showing in which countries is legal and illegal to use bitcoin.
I think that the countries that do not allow bitcoin is maybe that they hear bad news for bitcoin.
And as we know sadly a good percentage of bitcoin is being used in black markets and that could be the reason.

Where do you get that it's used a lot in black markets? I highly doubt that bro, I think most use of it is legitiment.

[MingLee]

I have seen a map showing in which countries is legal and illegal to use bitcoin.
I think that the countries that do not allow bitcoin is maybe that they hear bad news for bitcoin.
And as we know sadly a good percentage of bitcoin is being used in black markets and that could be the reason.

Where do you get that it's used a lot in black markets? I highly doubt that bro, I think most use of it is legitiment.

It's a relatively fair guess I'd say, or a fair guess from someone else that he read at some point and copied down. There's nothing wrong with such a statement, however in reality the amount of Bitcoin actually used in the black market is probably much less than what they say it is.

Bitcoin might have a 15-20% usage rate on the black market, but anything they do to regulate it means nothing, and would just push up that percentage.

[Cryptonitex]

I have seen a map showing in which countries is legal and illegal to use bitcoin.
I think that the countries that do not allow bitcoin is maybe that they hear bad news for bitcoin.
And as we know sadly a good percentage of bitcoin is being used in black markets and that could be the reason.

Where do you get that it's used a lot in black markets? I highly doubt that bro, I think most use of it is legitiment.

It's a relatively fair guess I'd say, or a fair guess from someone else that he read at some point and copied down. There's nothing wrong with such a statement, however in reality the amount of Bitcoin actually used in the black market is probably much less than what they say it is.

Bitcoin might have a 15-20% usage rate on the black market, but anything they do to regulate it means nothing, and would just push up that percentage.

I still think that's kinda high.

[DeathAngel]

Lots of strict companies like to control what their public do & keep hold of their finances. No national bank wants to lose peoples business & with bitcoin they lose control. 

[thejaytiesto]

Governments hate freedom and thats why a lot of countries will never be pro Bitcoin, so we will have to deal with that fact. The hope is that Bitcoin can sneak into any country as long as the country has internet accessible. So the only shithole without Bitcoin is North Korea.

[sonnyacg]

Maybe because bitcoin is anonymous. They can use it in illegal work without trace. So I think it will be hard for them to catch those people who are not doing good who doesn't have any trace.

yes, I think so too. because bitcoin is a digital virtual money unlike most real money. It enables the crime will not be seen in his footsteps. maybe that's why the government refused the use of Bitcoin in the country do not want a lot going on criminals who caused it in the legitimate use of bitcoin in the country.

[tabas]

I only knew one country that banned bitcoins for entering and being used by the citizens. And if I am not mistaken that is Russia, but good thing I have read someone commented here in forum that Russia now is already accepting bitcoins. And I guess those some countries are banning bitcoins because they are thinking that bitcoin is illegal and used for illegal things.

[JITENDERPAR3]

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

because some countries government thought that it can be use as illegal payments in any where in world without notice to anyone this will be use in terrible activity . so due to these fear some government country banned bitcoin and its related sites .

[noictib]

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

because due to use of bitcoin there is flow of money from one country to another country without tax and order . to controll over thus type of flow of money in form of btc some of the countries declared bitcoun as illegal activity .

[futurebit640]

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

because due to use of bitcoin there is flow of money from one country to another country without tax and order . to controll over thus type of flow of money in form of btc some of the countries declared bitcoun as illegal activity .

Not only in some countries I think max number of countries government  treat Bitcoin as an illegal currency. The main reason is the government will not get tax from this transaction. And the Govt will not able to track these transactions. So only many countries banned this Bitcoin.

[btccashacc]

I only knew one country that banned bitcoins for entering and being used by the citizens. And if I am not mistaken that is Russia, but good thing I have read someone commented here in forum that Russia now is already accepting bitcoins. And I guess those some countries are banning bitcoins because they are thinking that bitcoin is illegal and used for illegal things.

From what i read in china bitcoin is banned and illegal, but the most surprising china has become the wordls largest bitcoin trading market, in my country bitcoin is illegal if transaction with bitcoin, however holding or trading it like stock is legal and there are some exchanger here are licensed by the government.

[Golftech]

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

because due to use of bitcoin there is flow of money from one country to another country without tax and order . to controll over thus type of flow of money in form of btc some of the countries declared bitcoun as illegal activity .

thats right mate it is because they just dont want btc to increase popularity without their shared they want taxes but btc don't have that features for them so they wont let btc to rise up in their place but hopefully if those bigger country who already adopting the system will make revolutionized they wont have any choice but to embraced it as well.

[coynedterm]

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

because some countries knows that this is totally wastage of money and time . and due to no tax paid by the user in btc it us illegally uses . so some of countries decided to ban bitcoin in their countries to avoid such type of activity .

[marleybobthedog]

Main government of developing and under developed country take such action because they think that bitcoin will affect economy of those countries but basically it's not like that. They could earn money from bitcoin and finally help in improving economy of that country but they take the matter negatively.

[lumeire]

Even if governments ban BTCBTCBTC, our economy is global. The only way this economy stops is if its constituents stop using it, and I believe it cannot come from any outside force.

[Rostadom]

I think it's because their government is crazy enough to believe that they can ban it and the people in that country actually believes their government. Just because something gets banned in your country, you should stop doing it. If you're making enough money with Bitcoin to actually feed you and your family, why would you stop doing Bitcoins just because your government told you so. How are you going to it by then?

[qiwoman2]

Some governments want to have a tight reign over their people and want to govern with an iron fist. Also corrupt governments collude with big business and want not the little people to be really financially free and earn a good living. Fiat currency is centralized and they don't want bitcoin to take away form this fact.

[TastyChillySauce00]

Even if governments ban BTCBTCBTC, our economy is global. The only way this economy stops is if its constituents stop using it, and I believe it cannot come from any outside force.

it's right if bitcoin still keep continued to be used since it's globally used but it may affect the price,maybe the price will be fall a little if the countries that banned bitcoin is those who really having a big power so that it can impact bitcoin or even make people thinking about it