Why do some government ban bitcoin?

[Annie B. Duncan]

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.  

Therefore, the issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is a prohibited act, but in practice, the purchase, payment by bitcoin still. As the regulator of monetary, financial and foreign exchange, the government also recommended and recommended that people and businesses not participate in activities related to bitcoin and electricity bills. virtual money because there are many risks.

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[belinda97]

Because some countries do not have the means to control bitcoin, while others don't have people who can be involved in development.

[almaroof]

Some Government ban btc because they have no control over it



 They can not manipulate it to thier own favour

[Sate Jamu]

Because the government doesn't know how bitcoin is making a big profit, so far it's known for its use.

What the government hopes is to be able to control whatever the people use, this does not apply to bitcoin so the government takes the safe way with bitcoin banned.

[Freyya08]

Maybe because the government does not have control over bitcoin and the people  who are joining. They cannot collect tax and they know that some of us can be able to earn huge amount of money.

[BobbyZounours]

I think the goverment those who have banded bitcoin think it is a threat to banks.Because it is out of central bank's control.Again,bitcoin was used in many illigal activities before. So,they are may afraid of these reasons.

[Bounty-Manager]

Because bitcoin can not be controlled, the government can not control bitcoin, worrying that bitcoin can undermine the economy. And bitcoin is anonymous, Bitcoin is exploited by criminals and the government can not track it.

[Crafts12]

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

Yes also because of the threat to bank. Bitcoin was not control by anyone and its value. Government are not that knowledgable enough and They are afraid that it will have a big effect if they adapt it. We all know that bitcoin was decentralized so the government doesnt have access on kt and they didnt know who are the people behind these.

[baho11]

Those country who banned bitcoin maybe afraid that their banks and government might lost their power with regards to fiat, because no one owns bitcoin and no one can control it maybe the government doesn't like crypto currency to sooner become their major currency in the market and also afraid that it can be use for illegal acts.

[tamarindbleu]

government bane bitcoin because educated people donot do job and work in bitcoin

To be honest i dont know what is the real reason why some goverment ban bitcoin, but i think some goverment ban bitcoin because they didn't know the real purpose of bitcoin in this world and goverment do ban bitcoin because they know that bitcoin can affect the economy in the future

[Suffoc8]

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.  

They banned the bitcoin becuase they are frightened that bitcoin can replace the fiat money. And bitcoin is not handled by the government in which there are no taxation happen. So that it is a big deal to the government.

[Joemzz31]

government ban bitcoin, because bitcoin doesn't pay taxes in the government and government doesn't earn from it that's why some governments would like to ban the bitcoin in their country.

[cutebat]

No, Bitcoin is not bad, but for the government, it is a bit of a disadvantage since Bitcoin doesn't collect tax from their transactions, so no income for them and for the community funds.

[Genosx]

I think some governments banned bitcoin because of its price and it is so in demand the whole world. Also they can't earn taxes from bitcoin that's why they banned it and don't accept it as a currency.
They will banned bitcoin because it is a big treat in their country and it can ruin their country. Also the currency of the country will get down because of the bitcoin. That's why they need to banned it.

[Ethernel]

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

[gadimbrut]

I do not know what their views are about bitcoin, maybe bitcoin threatens the interests of a country or country that forbids bitcoin not yet ready with new technology and new investment types like bitcoin and altcoin.

[kxshcb]

Maybe it affects some company, especially banks.

[bionicles]

Government ban bitcoin because it can be use in illegal transaction like buying drugs or weapons online.

[iyan33]

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.  

perhaps some countries are afraid of the bitcoin of the country's economy will be reduced and maybe some companies in the country are afraid of economic decline, especially banks

[markk94]

from what i heard in my countries, they are too afraid that they can't track our transaction and can't put some tax on this cryptocurrencies transaction. that's the main problem in my opinion too.