Why in some countries Bitcoin is banned

[guoyu78]

One reason is that the governments don't want the people to flee from their own fiat.
In a country with already weak economic buying bitcoins brings the worth of the local fiat further down compared to the big fiats in the world.
When somebody puts his money into bitcoins there is even more supply of the local currency that leads to a lower price for it.
That is what governments with weakened economic want the least.

You can read the reasons of the countries provided by them when they ban bitcoin and that is only one that feel that bitcoin will be easily used by criminals and the government is unable to control over the bitcoin and so they start to ban it instead of doing anything for it. But now theyrealize that it is not right and now they are thinking to allow it again.

[1714862497]

1714862497

[1714862497]

1714862497

[1714862497]

1714862497

[Zadicar]

One reason is that the governments don't want the people to flee from their own fiat.
In a country with already weak economic buying bitcoins brings the worth of the local fiat further down compared to the big fiats in the world.
When somebody puts his money into bitcoins there is even more supply of the local currency that leads to a lower price for it.
That is what governments with weakened economic want the least.

You can read the reasons of the countries provided by them when they ban bitcoin and that is only one that feel that bitcoin will be easily used by criminals and the government is unable to control over the bitcoin and so they start to ban it instead of doing anything for it. But now theyrealize that it is not right and now they are thinking to allow it again.

Its  not possible all the times  because some countries  do completely ban bitcoin and wont intend  to change its decision because they saw bitcoin  is a threat which is  a dumb reason  for them  to ban it.  I cant really see things  that bitcoin should be banned to a certain country, even they stop it the  hidden transaction would be  still there.

[Blitzboy]

I think it's maybe because if they let their people use bitcoin then they can hardly have full control on their people. Or just simply they don't like the idea of having anther kind of currency standing in their way.

[sempak]

I think it's maybe because if they let their people use bitcoin then they can hardly have full control on their people. Or just simply they don't like the idea of having anther kind of currency standing in their way.

of course we will have the freedom that much more powerful. when the government closed bitcoin then they are also close to our knowledge of the technology.

[serjent05]

One reason is that the governments don't want the people to flee from their own fiat.
In a country with already weak economic buying bitcoins brings the worth of the local fiat further down compared to the big fiats in the world.
When somebody puts his money into bitcoins there is even more supply of the local currency that leads to a lower price for it.
That is what governments with weakened economic want the least.

I agree that government wants people to use their own currency not some currency from some internet because it will  have a great impact  in their economy.  Another thing is that government wants  a currency that they can control and monitor, so for those who are into this  idea strictly have to ban any unknown currency for them to study it first before allowing it to be used by their citizen for precautionary purpose.

[anaderwan]

Russia used to ban BTC because they were afraid of it impacted and decreasing the value of their local currency and so is china, since these countries strictly regulate the value of there local currencies, maybe they were also afraid of it being used for illegal activities.

[socks435]

Russia used to ban BTC because they were afraid of it impacted and decreasing the value of their local currency and so is china, since these countries strictly regulate the value of there local currencies, maybe they were also afraid of it being used for illegal activities.

How we can know that russia ban bitcoin? i saw a source just now here http://www.coindesk.com/russias-bitcoin-ban-draft-bill-withdrawn/
I thought that there is no place that they can bitcoin since its a good opportunity that you can make a good profit in bitcoin.

[sabbirshm]

There's Many reasons to banned bitcoin. Bangladesh have banned bitcoin because of hacking. A huge money has been hacked from Bangladesh bank and it's converted to bitcoin from fiat.The value of it was 8 thousand million money and they couldn't reach to the suspect because at bitcoin transfer none can tell where it has gone.Again,bitcoin is tax-free so government afraid that there fiat currency could be less-value.

[Milkduds]

Find that the Countries banning bitcoin are usually banning a whole lot of other things as well as they position to control the people in a fashion that is undemocratic so to speak.
Often it is just a talking point and no real back bone behind banning bitcoin and other times its just some overzealous politician thinking he is helping his almighty leader by giving the people one less thing they can depend on as the Country turns to shit.

[InsideBjorn]

I think the reason why its in some country's banned because it can maybe destroy their own economy with their own currency in their country's.
Of course this will most likely not happen but I think they are just scared.

[BitsandBites]

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

I do not know why Bitcoin is banned in some countries because it does not do any harm as far as I am aware of.
I know that there are some criminals that make use of it and maybe some countries want to prevent that.

[Selly Arumsari]

because goverment made it illegal , need to learning for goverment about bitcoin

[error08]

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.

Luckily I live in country that allowed digital currency and not banned it.
Bitcoin are not issued or regulated by any central bank which they can't control it and consider bitcoin could damage/ harm financial stability or beat out their own currency due to bitcoin advantages such as higher rate of exchange and offer a convenient way to conduct cross-border transaction without exchange rate fees like on banks, maybe that's why these countries banned bitcoin.

[Zadicar]

because goverment made it illegal , need to learning for goverment about bitcoin

They would surely banned it because they are only seeing the negative aspects of bitcoin which is commonly used for hidden illegal transactions thats why some governments do banned it because of it but if they could just see the positive sides of bitcoins they will surely allow it but well in reality governments decision are final and we cant do anything about it.

[severaldetails]

because goverment made it illegal , need to learning for goverment about bitcoin

They would surely banned it because they are only seeing the negative aspects of bitcoin which is commonly used for hidden illegal transactions thats why some governments do banned it because of it but if they could just see the positive sides of bitcoins they will surely allow it but well in reality governments decision are final and we cant do anything about it.

I think that it always depends on how much bitcoin is abused in a certain country.
The more criminals take use of bitcoin, the more bitcoin becomes a target of a government.
In the eyes of a government one of the best ways to fight against crime is to remove money out the game.
And some try to do that by banning bitcoins.

[MingLee]

because goverment made it illegal , need to learning for goverment about bitcoin

They would surely banned it because they are only seeing the negative aspects of bitcoin which is commonly used for hidden illegal transactions thats why some governments do banned it because of it but if they could just see the positive sides of bitcoins they will surely allow it but well in reality governments decision are final and we cant do anything about it.

Doesn't have to be something illegal 100% of the time, it can easily end up being a means of controlling the capital leaving or entering the country, much like what you see in China right now and how they're trying to prevent people from running their wealth out of China and into other countries. I don't believe China has banned it, but there were rumors not long ago.

[hakanbalta577]

I think the reason why its in some country's banned because it can maybe destroy their own economy with their own currency in their country's.
Of course this will most likely not happen but I think they are just scared.

I do not think there is any way on how bitcoin can destroy any countrys economy or local currency or even it will only help them.
The government of some countries banned it may be because of the reason that they cannot control bitcoins and they want currencies used by peoples only be controlled by them.

[crwth]

Since bitcoin is frequently questioned on how it's used, that made governments or monarchs aware of the possibility that it can be used for illegal stuff. They act on it like if normal citizens use bitcoin, they can be in grave danger. Based on my research, these countries: Iceland, Bolivia, Ecuador, Kyrgyzstan and Vietnam are the only countries that banned bitcoin. http://www.coindesk.com/information/is-bitcoin-legal/. There will always be an upside or downside to a compelling cryptocurrency such as bitcoin.

[Mr.grin]

I think that there are some countries that proscribing the use of so bitcoin because it could increase the illegal transactions. Well, a lot of people who always exploit the advantages that have bitcoin transactions are very difficult to be tracked, so many people are buying and selling illegally, and that includes drug trafficking, and other illegal things

[socks435]

I think that there are some countries that proscribing the use of so bitcoin because it could increase the illegal transactions. Well, a lot of people who always exploit the advantages that have bitcoin transactions are very difficult to be tracked, so many people are buying and selling illegally, and that includes drug trafficking, and other illegal things

I think there is no proof that bitcoin is banned  i heard many news or thread here about bitcoin that ban in some place but theres no proof that its ban..
Also if they are using it in illegal i think its just a normal because even in fiat illegal activities are happen..  bitcoin is use only for transaction the problem is that how to ship the product like drugs to the buyer..