Why do some government ban bitcoin?

[andylioe78]

Some countries prohibit citizens from using it because the use of bitcoin has been used previously in illegal activities discovered by authorities and they are afraid that their citizens will have an idea to use it with the same purpose

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[godfrey123]

the government has a lot of reasons why they ban bitcoin, some reasons that they give is that bitcoin is being used criminal activities. But I think the reason why is that they cannot put a law about bitcoi, they cannot regulate it. and they cannot earn money.

[yanlap]

I don't know what is the bad side about bitcoin. All I know is bitcoin is being banned because government can't control it and they can't issue taxes on transactions on bitcoin.

All the digital currencies are decentralized in nature which actually means that neither government nor some other entity can actually control the, the only intention behind banning bitcoin by most of the governments is that bitcoin is gaining lot of fame and it is impossible for bitcoin to take control over bitcoin. As they are unable to do that, so they are trying to ban usage of bitcoin in order to gain their tax.

[hh4mmm]

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.  

bitcoin is not bad nor banned, the only thing i see in bitcoin is that to all countries has there own ways, bitcoin can be banned if it is not legalized in a particular country, secondly government see's it as a threat to bank, and thirdly is uncontrolled by government, fourth they see it as a theft so this are the only things while bitcoin can be banned in some countries.

[Vritesh]

Some governments ban Bitcoin because bitcoin is decentralized and not under their supervision. Government cannot track the transactions made through Bitcoin so they are not able to impose any regulation and boundation on it's use. Due to it's decentralized nature many people use it in dark web that's why some government's ban the use of Bitcoin.

[Valzzz005]

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 do not knownthe exact thing whybtheybare banning bitcoins maybe they are threatened by what bitcoins can do to their people because bitcoins value are rising that is why people are investing more in bitcoins rather than banks so the government can give it some taxes. Actually here in our country i think that the government are slowly banning bitcoins because they are saying that it is a scam in the public media which is not true bitcoins are legit. And second one the main bank disallowed the only bank that accept bitcoins into cash so how can we know get our money

[hangar18]

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.  

bitcoin is not bad nor banned, the only thing i see in bitcoin is that to all countries has there own ways, bitcoin can be banned if it is not legalized in a particular country, secondly government see's it as a threat to bank, and thirdly is uncontrolled by government, fourth they see it as a theft so this are the only things while bitcoin can be banned in some countries.

Bitcoin got banned in many countries if for using as a payment method. Almost countries do not accept Bitcoin for payment in the economy system of country. Therefore, only Japan is the first country and also the only country use Bitcoin as a payment method and it is legally.

[Dadan]

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.  

Because other countries believe that the bitcoin is a scam, that's why they have not approved bitcoin in the other countries. But also in other countries, they want to approve bitcoin because bitcoin give hope many people. 

[catsgirls]

It seems that it is important to look at the bad bit coin due to sudden price increases and security problems.

[ab007]

Reason is simple, when our government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire planet.When a case is filed against Bitcoin, not the people transacting bitcoins, inside the jurisdiction, governments cannot be able to perform their legal obligation to the society.

[Smith871]

Because it becomes very much difficult for governments to audit transactions, and perform their obligations .Governments have to provide bitcoin infrastructure in their jurisdiction, so that they can keep the network going. Just like operating banks, it will cost a large sum of money.Governments can decentralize the infrastructure by franchising the process just like issuing licences to private banks.

[copperminer]

Obviously because they cannot control it.
You can only regulate/steer things you can control.
Also, because of the deflationary nature of bitcoin you cannot print money out of think air, like with fiat.

[MD Milon]

Bitcoin is digital currency.it is out control of central bank.some government think,bitcoin threat for general banking  and not under obligation of government.

[Xember]

To be honest, I don't see the logic behind the government banning bitcoin. You can announce that bitcoin is banned in your country but you can't really ban it. It's in the same situation as other things that are banned. You see drugs are banned in most countries but there are still tons of drug addicts. Banning bitcoin is just as pointless as putting a bitcoin user in a jail. The guy's just trying to make some money from the Internet. I think the sole reason why some government are banning bitcoins is they are at least trying to lessen the hype of bitcoin in their country at least. If bitcoin becomes a thing in one country, their taxation will be much lower than how it is before but it can also still be a good thing for them because there's still tax whenever a person buys something.

[xxx3]

the government was told what bitcoin was and so on, but the government continued to call it bitcoin a threat to banks.

[aeternus]

I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.

Correct, not all countries are going to ban bitcoin and those that do not are going to get incredible economic benefits since the investments in those countries and the tourism is going to go up, at some point the citizens on the countries were bitcoin is banned are going to begin to demand that bitcoin is legalized and are going to impose their will on the government.

[dotcomwriter]

I think some governments ban bitcoin because they do not have established laws that can regulate its use within their jurisdiction.

[iron talon]

I just recently found out that my country banned bitcoin too.
Such a sad news, of course. In the article, i read that they do that because they think bitcoin is a harm, and will be a bad threat for the banks.
They also think bitcoin is unstable and hard to control, so we should not use that to transact and ask us to cash our bitcoin, which of course i refuse.
They have their own reasons, and mostly because they want to protect their.... 'own'? I'm not sure yet.

They make you the prisoners of centralized banks, this is the idea of the governments. They can't let you be the part of a free economy created by bitcoin and blockchain system.

[tittensor]

I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.

Correct, not all countries are going to ban bitcoin and those that do not are going to get incredible economic benefits since the investments in those countries and the tourism is going to go up, at some point the citizens on the countries were bitcoin is banned are going to begin to demand that bitcoin is legalized and are going to impose their will on the government.

In this year, I did not see any the government ban Bitcoin or cryptocurrency market, though there are some rumors about the Korean government are considering the growth cryptocurrency in their country. If the Korean government will decide to ban all the cryptocurrency market in 2018, it is really bad for the growth of cryptocurrency, included Bitcoin.

[Wolf of Btrex]

Some Government ban bitcoin because they can't control it since its decentralize they won't be able to know how much a person is earning in bitcoin not unless the person will declare their earnings so they can't ask for tax to that person.