Why do some government ban bitcoin?

[napi]

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 possibility of the government banning bitcoin transactions because bitcoin has transactions that are completely open and everyone can see the transaction, if the government prohibits bitcoin transactions it seems the government is afraid of being unable to launder money or corrupt.

[1715496644]

1715496644

[1715496644]

1715496644

[Jessica2009]

  Bitcoin is a digital, decentralized currency people can  trade directly with each other without the help of a middleman. The transaction of money can be done globally, free of cost so government and banks fear about bitcoin; during transaction through bank they impose a fees from the people that will be more for the ordinary people . Also government fear that Bitcoin will be used for illegal activities such as drug dealings etc;.This brings anxiety to people that government will ban Bitcoin.

[hgkcoin]

Because of the loopholes in Bitcoin transactions, it is easy for criminals to use and government regulation can not keep pace, so some countries simply ban it.

[Invester]

Banning is not the goal, taking control is goal

This post may be coming from a newbie account here but I would say this is the very point of the government that are banning Bitcoin in their respective countries. Governments do not just ban easily. They do not just ban something which is like Bitcoin--having the backing of the people, being traded worldwide with Billions of USD in 24-hour volume, and even much bigger market value, being used and utilized worldwide. They just want this to be controlled. The problem is that they cannot do that so they ended up banning it.

[siopao23]

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

Well the main reason for the government that they want to ban bitcoin is that they are scared of what it can do to their country. It does not have any tax when the transaction was made and done by bitcoin. Banks are just nothing while bitcoin is being used. It does not need any middleman in their transaction so that it will be a great threat for them.

[Dyn@styN3rd]

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.  

It's decentralized and can't be controlled by the government so they see Bitcoin as a threat to their local currency. They are afraid that bitcoin will replace fiat in the future so I guess that's why most of them are finding reason to ban bitcoin.

[Al Amin]

I wonder why the government forbids bitcoin, perhaps because the government actually just wants to protect its citizens from the bad risks caused by bitcoin. Or it could be the government is afraid bitcoin able to shift banknotes owned or made by the country.

[emondot]

because bitcoin is not directly controlled by the government directly, therefore the bitcoin currency is an easy target for criminal actions such as money laundering and to avoid taxes. the lack of role of the government can also make this currency worthless and not make the bitcoin currency legal.

[DByte]

Because its a big threat to the banks which are getting a lot of taxes,they are centralized and crypto is decentralized.

[Millertheguy]

Governments are against it because they have no way of controlling it as they please. They have no record of transactions or method of controlling how it is traded.

[Royal Jelly]

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 the Government is worried if its people prefer Bitcoin compared his country's currency. Therefore the Government prohibits using Bitcoin as a tool for their transactions. But to have and investing still allowed by the Government.

[Polipog]

Im also doubt why some government banned bitcoin. Not totally all but there are few governments banned bitcoin. Maybe the reason are all about taxes. Im not surely but talking about government it involves taxes. Governments are only depending on a taxes collected, without taxes government economic status automatically shutdown. Particularly in bitcoin we really knew already that it is a tax free, and nothing tax collected by government, but for me nothing wrong about bitcoin because it helps people and economic status growing up. Even bitcoin is a tax free but still bitcoin contributed economic development in a country by the people who access bitcoin and earn for which the money from bitcoin will used to transact or buy some products and goods to every establishment or government institutions like government schools. There are also people paying government colleges and the money came from bitcoin access. So bitcoin is big help to government.

[JL421]

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.  

Bank's are scared that people will prefer btc than cash in the long run. To protect their interests Banks approach the government to sideline btc and other cryptocurrencies. Bitcoin is not bad, it's a very prospective investment which was created to help people earn.

[nemesis_]

There are some factors why some government ban bitcoin. One of those is that it can be use to do illegal things/transactions. It can be use as a medium to perform things prohibited by the law. As bitcoin is a decentralized currency and does not need intermediary. Transactions happen between the two users only. The transactions made can not be tracked. The government do not have any control in here.

[RoxasXIII94]

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 it's the same to what happen to gambling before, though

[raypinch]

They are always afraid of things that they cannot control, once they think of how to control crypto, they will be very calm 

[Zirch]

Hi, Buddy

In my opinion

Because , i was out of control..

Gov bank in many countries wanna law rules and regularly to bitcoin. But, many people doesn't agree with this plan.
 

That's why many gov  bank ban bitcoin

[panganib999]

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.

We all know that bitcoin system is decentralized in the field  of market. So mainly , transactions  could be done without any format of name or reason needed or in other word itsearch transaction could be done anonymously  so most of people uses bitcoin or any other forms of crypto currency to buy illegal thing on the Internet which the government  does not  want to imply  to the state.

[cepedacharles29]

Because the govenrment afraid bitcoin will affect their currency. because bitcoin is very powerfull currency that not affected by other currency like stock or fiat money. one thing that would affect the bitcoin is demand. in other reason bitcoin is also very anonymous so the government afraid bitcoin user use it for bad thing

[ostrogoto2012]

Bitcoin is very powerfull and decentralized currenzy,  so it is normal that banks are very scare, but also i think the biggest banks already invested on cryptocurrency bitcoin first!