Why do some government ban bitcoin?

[usechain]

The reason is FEAR. The government cannot control bitcoin transactions and they will not know how owns it. Unlike fiat, the government can determine the issuance, transfers and they can even destroy it. They don't the idea of not having a banking system anymore and afraid that somebody might use it for illegal activities.

Yes, and now the development of bitcoin has not really stabilized. Therefore, it is very difficult for the government to formulate a tax policy. I think the reason the government banned bitcoin is probably that they can not find a proper control measure.

[1715512157]

1715512157

[1715512157]

1715512157

[1715512157]

1715512157

[abaidudez]

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

I see that too that other big countries banning bitcoin or not only bitcoin but other altcoins. Example of that is China. I remember the news before the end of year 2017 that China banned Crypto and after few months Bitcoin price boom up so rapidly. I think one of the reasons why they ban it because it can be used in illegal transaction.

[jhongzjhong]

The reason is FEAR. The government cannot control bitcoin transactions and they will not know how owns it. Unlike fiat, the government can determine the issuance, transfers and they can even destroy it. They don't the idea of not having a banking system anymore and afraid that somebody might use it for illegal activities.

Yes, and now the development of bitcoin has not really stabilized. Therefore, it is very difficult for the government to formulate a tax policy. I think the reason the government banned bitcoin is probably that they can not find a proper control measure.

Not only by fear also they can't be embraced bitcoin because it is the big competitor of our government's banks. They know that through bitcoin some money of their country will be a bypass to another and cannot be regulated. Another factor that possibly happens bitcoin may use in illegal activities such as buying weapons or prohibited drugs.

[shoreno]

I think it is because they wanted to protect the welfare of their people.
We cant deny the fact that there are really cryptocurrencies out there which was created in order to scam people of their hard earned money.
And i believe government must be able to stop this but not to a point that they will ban bitcoin though.

the only way to stop these scamming is to completely ban them because if governments only stricts a few of them , they can still find a way in order to continue their illegal activities but despite that , there are still country that operates bitcoin and any other crypto related stuffs such as ico or online exchanges because these countries arent strict enough to stop their people from doing what they love.

cryptos isnt all about scamming, cryptos do also have worth and importance , that is why people still continues to use and support it.

[Semar Mesem]

Many countries worry that bitcoin is not discontinued and freely used will have a detrimental effect on a well-structured state finance system, anonymous features make everyone free to trade with bitcoin so that people can trade illegally (drugs, money laundering and many more).

[OrangeII]

government bans bitcoin because they do not benefit from bitcoin. well, to my knowledge, bitcoin is not taxable, so the government is losing money, and moreover if they use bitcoin as a means of transactions, the government will lose the opportunity to earn money to change the country, but I do not know, every country has different reasons.

[Sar elok]

Actually it is not as bad as what is bitcoin Government think. The Government viewed bitcoin negative point of view only. While the positive impact that the community feel of the bitcoin, escape from the view of the Government.

[Ambrosius]

Bitcoin are not bad, but bad peoples using bitcoin for their funds transfer or transactions, that's why some countries banned bitcoin. Most of illegal activities, drug dealer, illegal weapon and many other criminal activities using bitcoin as their payment.
Bitcoin unable to traced that why they are using it. IP address that could locate you, not bitcoin.

[hydeevanz]

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

For me, bitcoin is not bad, but it became worse when someone used it for crime. I know that there are government of some countries who banned bitcoin due to the fear and ignorance of fiat of a certain country that might affect their economy. These issues became more trending when there's a plunge in bitcoin but as you can see now, that it's only created and developed for good purposes. It is always up to someone on how he/she will gonna used it.

[zolfa]

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

probably because bitcoin prices can not be controlled by any country and due to government concerns in some countries will fraud taxes, worry about Cryptocurrency fraud, bitcoin hacking and avoid money laundering.
Tension in digital currencies is a crucial point of global demand for digital currency transparency.
but I think the wiser step is to embrace technology by providing high protection to its citizens who use digital currencies to transact. Thus citizens have protection from the free market of digital currency.
This way has been done by the Japanese government and this can be replicated. Therefore, the possibility of the state will not be able to limit the development of blockchain until the future.

[imking]

banned because not all countries want to inject bitcoin because of their infrastructure is weak.

.

We all know that bitcoin have an advantage and disadvantages. Bitcoin is decentralized no one can’t control it. All the person on this world have a freedom to have the bitcoin. So, the only things to control the population of the bitcoin is to illegal it because the government can’t add an income tax with the bitcoin and to avoid the using the bitcoin on the criminal activities and money laundering.

[Troysen]

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

The anonymity Cryptocurrencies provide makes it almost impossible to know the real identity of its users so tracing a user with bitcoin transactions will take some time. Governments on the other hand banns BTC because  they consider it a threat to their economies. They don't like the freedom that comes with BTC and the fact that they cant tax it.

[Ian Dave]

Governments ban Bitcoin because they think that it will replace their currency, but they don't know it can help their people to succeed in life. They can benefit here by giving them taxes. But they didn't do that. I don't know why there are doing that. So we need to continue here.

[Mr.John19]

BTC creates threat to country own currency.it can also be used in illegal activities and money laundering because its transactions are not controlled by country government agency.

The government permanently make conclusion in according the commandment. Many countries are not yet prepared because they are enlightened and absence of information about the technology and the others is they have income from bitcoin because they are tax free. We all know the income tax help our economy by build a better country. Other tricky that they cannot track the investor transactions and they don’t know person who earn more profits. The lase is they don’t have control those creating new ICO.

[Amilhussin24]

Actually bitcoin is really affects ourlives in a good way, imagine how beautiful bitcoin is. You can send it anywhere around the world, pay through bitcoin, work with a bitcoin salary or payment it is really Good use. Bitcoin is helping us in our daily lives for almost 9 years. But, the Government has nothing to do with bitcoin, because the reality is, Government is always there to issue a regulation in everything we do in a certain country, such as Regulation of our properties, including our assets and liabilities. But bitcoin is different, it is created with a decentralized function that Government cannot do anything about it, except banning it, to be able to start issuing such Regulation, otherwise they have nothing to do with blockchain technolody with a billion well encryrted addressest.

[dhka]

Governments ban Bitcoin because they think that it will replace their currency, but they don't know it can help their people to succeed in life. They can benefit here by giving them taxes. But they didn't do that. I don't know why there are doing that. So we need to continue here.

Not replace, but government is afraid if they cannot control their citizen anymore. Not able to tax their income, do not k ow how much each of them makes. Government basically just want to know everything you had, you have and you will gonna have

[boboi]

Point A government's sets bitcoin bann not because they know what bitcoin is and what the bitcoin is, the government is told what it is bitcoin and so on but the government keeps claiming bitcoin as a threat to banking.
Point B government claims bitcoin as a tool to launder money.
Point C government see unstable prices
Just opinion

[zitao]

Some countries prohibit its citizens to use it because bitcoin has been use before in illegal activities that was uncovered by the authorities and they are afraid that its citizens will have an idea of using it for the same purpose. Because of its anonymity, some people who do something unlawful prefer to use it instead of payment option that is traceable and that's why some media also emphasize more the negativity of using bitcoin and other crypto that's why others prefer not to be involved with it.

[bakulsandal21]

The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it. For them, bitcoin has bad effects.

[bts378]

Some government's impression about bitcoin is that it's heavily used in money laundering and crimes that's why they ban it. It's not really bitcoin being uncontrollable by banks and the government, but because of it being used in illegal activities more often than cash.