Why do some government ban bitcoin?

[Naoko]

of course...no government is profitable for the people to make a profit, and the government was left out...and in the end it can undermine the economy...they keep their hands on the pulse...they won't allow bitcoin to cross a certain border

[Amanda Krause]

I think it's because of its independence as the government doesn't have the control over the transactions.

[danggoron]

Government may ban bitcoin in some countries, with the mind of controlling internet fraud. Records and reports of the rate of increasing fraudster is so alarming in some countries that the government has believed any concept of making money from the internet is all about fraud. So, they feel they can curtail that by banning it. Most especially in many government that doesn't know what bitcoin is all about. How to derive tax from the users may also be a challenging factor to them.

Yes, it is true. because the government can not control bitcoin. in addition, because bitcoin is associated with the bubble phenomenon and is easy to serve as a tool for committing crimes such as the illegal sale of weapons, drugs, etc.

[vincentallstar]

Some government ban bitcoin,because different countries have their own laws, laws regarding the banning of bitcoin,they consider it an illegal and threat to some central bank in their country.
Only a few countries disagree with cryptocurrencies and these are the following Thailand, China, Taiwan, India, Germany, Bolivia, and Russia.

[Dod Ong]

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.  

Why do some government ban bitcoin? Simple because they think that the bitcoin is unfair to other people who working hard while here in bitcoin you can earned money by posting, that's why some government or countries ban the bitcoin in their country. But I think the bitcoin is not unfair, here in bitcoin you can't say that we can earned money in easy way because we need to work hard to earned money here. We need to be active always here to earned more money.

[Lubang Bawah]

The fear factor that the use of bitcoin will beat fiat money so that fiat money is worthless. I'm sure in addition to fear it is a factor of self-esteem because of the legal currency abandoned citizens.

[cluit]

(1) Attack, using anti–money laundering laws, etc., the entities that allow Bitcoin to interface with the "real" (non-Bitcoin) world.
(2) Try to destabilize the value of Bitcoin. So perhaps buying a bunch of Bitcoin over time, and then selling them all at once, causing market crashes.
(3) Finally, attack the *image* of Bitcoin. Publicize the hell out of its uses for hard drugs, child pornography, assassination markets, etc.

At start all governments had banned bitcoin because they can’t control it by any means. They wanted to have full control over it and wished to run bitcoin at their policies. But the nature of bitcoin haven’t allowed them to play with it so now they all are very well known the potential bitcoin have now and would have in future. Theaffectless of bitcoin on economy of country, they are now understood.

[adiksau0414]

I have no club of other country banning  bitcoins except CHINA. They say with this quote " an unauthorized and illegal public financing activity, which involves financial crimes such as the illegal distribution of financial tokens, the illegal issuance of securities and illegal fundraising, financial fraud and pyramid scheme.” they also have other factors involving why they ban bitcoin and other cryptos,  such like because most of the ICO'S are scam. (which is probably true,  because in this forum many have been victimize") and also CHINA  wants to create their own token for them to use and the one who will benefit is also their country.  I think there are more things to consider for them to ban it.

[crypto4lambo]

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 think the primary reason government ban bitcoin is because they have no control over it. One characteristics that bitcoin has is that no one can regulate it, even government and financial institution. Though it is prone to illegal activities such as money laundering and underground transaction with related to drugs, bitcoin is undoubtedly the future or money. Also government can't track who made the transaction though the record is viewable by public. Its characteristics is just being used in illegal ways that is why it is being banned in our countries which is I think understandable specially in countries where drugs and money laundering is a big issue.

[Wulanayu]

Some countries forbid bitcoin because bitcoin is hard to track and that's where the government assumes bitcoin can be a crime-free path.
And also from the difficulty in track it the government also does not benefit as well as taxes, the government also surely know how the development of this digital money. So because it is not detected and do not get the benefits for the country so automatically banned in the country.

[s31joemhar]

Bitcoin is banned by some other countries; not just because of they think it’s illegal or it will brings problem to public they know that there are not capable enough to embrace this type of opportunity. The main reason of the government is to make a balanced situation for everyone and protect the interest of both parties. Once they promoted bitcoin in their respective country even though they are not capable to do that. It will bring culture shock to the people and a big loss to the company because of least users are involved which may result to bankruptcy.

[Delilonia1]

Although this is a great question that still beg constructive answer. Bitcoin has come a long way and Government has been in control of the financial system quite longer so they will tend to criticise its credibility. But I believe no matter what the weaponry the Government tend to use against it, it will surely overcome them. Don't forget bitcoin has faced a lot over the years and it has also survived this far, so trust me it will still survive the present governmental challenge it faces now. Government should better join the revolutionary change now in the financial world, else government will have to bear the brunt..that is the reality

[ikicha]

Bitcoin is fully anonymouse and very hard to track
Government is prevent to illegal transaction over bitcoin network, maybe money laundry, drugs, black market, or other illegal using bitcoin network as payment

[vaughn125]

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.  

Yes. This is true.

But, bitcoin isn't bad. The people who use it to do bad things or illegal things are the ones that are truly bad. Not bitcoin.
Yes they do. Since they cannot regulate it and can't point out who has bitcoins and who doesn't.
Which makes it hard for them to get taxes and find criminals that uses bitcoins to do transactions that can benefit their crimes.
And lastly, i am not sure. But in my opinion, i do jot think bitcoin xmcan be used as a spyware.

[moooonu]

Firstly its not botcoin, its bitcoin. Secondly bitcoin is banned by different countries due to its use in illegal activities as well as its anonymity to trace it. As its really hard to trace transactions.

[Bitcoins Network]

I heard that in Russia Bitcoin is illegal, and if you are caught operating BIG amounts, you can even get a jail time.
I believe this is due Bankers and Governments being but-hurt about loosing their commission and shit like that.

[Tanazir]

In some countries, bitcoin is the main reason for the ban, because in some countries if governments have a problem with Bitcoin, they will make it legal. Bitcoin has bad effects for them. Some state authorities prohibit its citizens to use it because it has been used before the illegal activities discovered by Bitcoin authorities and they fear that its citizens must have the idea to use the same purpose. Because of its privacy, some people prefer to use it instead of using something instead of paying something illegal, and therefore some media use bitkayana and other crypto to emphasize negativity, so that others do not want to get involved with it.

[OuterTech]

Almost countries banned Bitcoin are developing country, their technology is not developed enough to be able to control Bitcoin and avoid the disadvantage of Bitcoin. So the best way for them to prevent people in their country taking advantage of Bitcoin to commit guilty is ban it.

[btcminer6212]

Bitcoin is fully anonymouse and very hard to track
Government is prevent to illegal transaction over bitcoin network, maybe money laundry, drugs, black market, or other illegal using bitcoin network as payment

The government more or less thinks of their interests and if something (investment, opportunity, new law) doesn't serve them it should simply be removed for a greater good (greater good for whom I can't tell). Keeping this in mind BTC is uncontrollable by them and mostly we as person can benefit from it, but the government as whole didn't find it's way at this stage.

[aeternus]

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.  

Some governments are going to ban bitcoin because bitcoin is a menace to them, bitcoin primary function is as a currency and if they lose control over the currency people use in their country they lose a lot of power, not only that the power to tax you is also taken away from them and that is big problem for governments.