Why do some government ban bitcoin?

[karin9222]

Because something circulating in a country must be ensured of security, legality and impact on society by the government itself.
While the government is worried about Bitcoin will affect the value of the country's currency.
Therefore a country that doesn't have strong economic resilience will choose to ban Bitcoin to enter in the country.

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[haster100]

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.

[markleal]

Is botcoin really that bad? To banned by other countries?

Hi there TanClan98, as I believe bitcoin were being banned by other countries due to the increasing illegal activities that utilize bitcoin, these includes scams, theft and even serious injuries due to treat. In order to protect their citizen, they choose to ban bitcoin.

Do the other government in other countries see something bad?

Yes, long way before government hunt down several bitcoin users which utilize bitcoin as a payment in the black market. Other counties intel by then shared information specially if that information could lead to security improvement of a country.

Can bitcoin be used to locate us?and see what we are doing? In short a Spyware. 

I think it can’t, bitcoin transaction which logged in the online public ledger only shows information about addresses of the sender, receiver, the amount, blocks information and the like. It doesn’t include IP address or physical address of the sender nor the receiver.

[recklessMe]

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

I agree with you.
Besides, while banning Bitcoin some governments claim it is connected to money laundry, drugs, terrorism or other illegal activities. But governments are eager to use beneficial tech like blockchain for revival and modernization of banking and financial systems.
Therefore, it seems  governments are kin to restrict individuals from using Bitcoin or impose taxes on it, but they are ready to get their advantages.

[Neko Mamushi]

Some administration boycott Bitcoin in light of the fact that they imagine that this site is spreading a culpability, however they don't have the foggiest idea about what's going on here. There are some trick, yet not all, there are working here to get a pay to purchase what they need. Bitcoin can help us in our money related necessities.

[Partoney]

the principle motivation behind why some administration boycott Bitcoin on the grounds that they apprehensive that Bitcoin and other cryptographic money will destroy their economy particularly bank framework cause Bitcoin isn't anything but difficult to control yet it's simple taken advatage to submit liable. Next to it's simpler to acquire vast measure of cash by putting cash in BTC than simply store cash in Bank framework so when Bitcoin sanctioned I figure individuals will pull back all their cash in ledger to put resources into Bitcoin, it'll be a major inconvenience of Bank framework in any nation. At long last, they restricted Bitcoin on the grounds that their innovation isn't created enough to have the capacity to control Bitcoin so the most ideal approach to control is boycott

[Sacred Fires]

The administration of a few nations denies the utilization of Bitcoin on the grounds that it is outside the control of the national bank. Bitcoin is autonomous, the legislature of any nation can not control it. So a few nations don't care for it. Again numerous administrations believe that their nation will transmit cash through Bitcoin, Bitcoin hazard for them. Due to these reasons Bitcoin is restricted in numerous nations.

[panther16432]

There are many reasons to ban bitcoin by some government. Because bitcoin is decentralized digital currency, as the system works without a central bank or single administrator . There are many illegal transactions are doing with bitcoin and many governments can't find peaple who transfer illegal money with bitcoin. Hence them ban bitcoin in them country

[andamers]

The government has always relied on taxes to grow its economy.
Although taxable, it maintains the country and provides infrastructure and government services such as schools, roads and buildings. Bitcoin does pose a risk to the government.

[lutfor]

Basically I don't found any strong reasons for banning bitcoin. If there is any problems or issues then they can try to resolve those but baned of bitcoin is not a good decision at all. I personally believe that before execute any decision they need to take expert opinion. Those kind of decisions means a lot for us. Hope one day they will understand.

[Valer4ik]

If the government of any country decides to make the Bitcoins trade or possession illegal, questions will be raised about how to ensure such a ban. The government can not capture your Bitcoins if you do not decide to transfer your personal keys. However, most citizens and companies prefer to remain on the side of the law. Thus, the demand for Bitcoin will fall if the government decides to set it outside the law. All exchanges and access to them in this country will also be closed, and buying and selling Bitcoin will be complex and risky. This can greatly affect Bitcoin's demand in this country and thus the government's goals can theoretically be achieved.

[ikiscream]

in my opinion it may be a constraint on tax calculations. and also to avoid illegal trade and very difficult to trace the perpetrators of illegal crimes

[cryptohunterSL]

Bitcoin claims that “It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.” That lack of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, it is important to know a little bit about governments and conventional currencies.

[Sedamai]

The legislature prohibited bitcoin in light of the fact that as indicated by financial examinations will be hazardous if the decentralization framework actualized in the nation. obviously the legislature ought to have the capacity to control all the money related framework so that on the off chance that it is fundamental then it can do intercession. bitcoin can not be controlled by the legislature since it is decentralized and utilized all around.

[joshua05]

I See topics about banning and I want to ask.

Is bitcoin 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.  

Some may think that bitcoin is a scam or a harm to the internet banking series of different kinds of sorts, and some isn't open minded about the good service crypto currency have made and will be doing.

[Alifal]

I believe that they governments Bitcoin banned for the main reason are owner country coin is valueless and if corruption increase in the country then this country Bitcoin banned. Why not Bitcoin transaction is not identified.

[IRISlingk]

because they think that bitcoin is difficult to control and very risky when used by parties who are not responsible. this is the reason the government is still has not legalized bitcoin

And I think so too. Most countries are afraid to accept bitcoin right now, largely because bitcoin is decentralized and uncontrolled, and national governments are worried about chaos in the national economy after the introduction of bitcoin .

[carlisle1]

because it is out control of central bank and not depeond on $ or gold or oil

great simple answer,since this coin is uncontrollable by banks and can define by dollars or gold thats the reason why it was on hunt by government...lots of funds are circulating here so if big money is involved the whole world will hunt this as if one treasure that soon to be revealed

[sherwinaze]

bitcoin banning in other countries because some other countries didn't control bitcoin currency and some other bad people using bitcoin to buy  illigal items like guns  and tryng to take down their government .

[Petmalu001]

Bitcoin claims that It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. That lack

of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, it is important to know a little bit about

governments and conventional currencies. Maybe it is also because of the fact that it is independent and the government has no control over the

transactions and trading of it.