Why do some government ban bitcoin?

[TanClan98]

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.  

[alex 666]

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

[Doell]

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

[jamids]

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.

[HabBear]

The only countries that have banned Bitcoin are Bangladesh, Bolivia, Ecuador & Kyrgyzstan. Do you live in one of these countries? If not, what's your worry?

HERE is more detail on the legality of Bitcoin by country.

As long as countries can still collect taxes off the gains made from bitcoin investments they'll be keen to let it live in the fringe.

What we should be worried about is the long reach of law of some countries to indict people for fraud when that country doesn't have any jurisdiction over where the crime occurred. Not to say that criminals shouldn't be pursued, only that they should be pursued by the authorities that reign over the jurisdiction.

[TitanGEL]

The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it. For them, bitcoin has bad effects.

[Absentis]

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.  

These nations who had ban bitcoins because they are so much proud and so much patriotism was applied to there country that they think bitcoin is a treat into their nations loyalty except if they are the first to discovered the bitcoin . Most of these countries are communism government in which they know that they cant control bitcoins because is was decentralize currency. Lucky for us, our nations give us freewill and freedom.

[Naughtis]

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

Because if they allowed it, other banks may have been ignore or others if allowed bitcoin some people used this in bad things. But the main cause for me to what government ban bitcoin is to they get no interest from the people who earn bitcoin in other words they got no money .

[mevmike]

This are my thoughts, if ever there are countries who wanted to create a law in order to ban the use of bitcoin and other cryptocurrencies then this could be their reasons:
1.Trading with the use of bitcoin or other cryptocurrencies cannot be traced by the government, therefore this transactions cannot be taxed then denying the government of income.
2. Bitcoin can be used in money laundering.
3. Even though bitcoin was not initially created for illegal activities, but nowadays we cannot deny the fact that it is indeed used in such activity. Giving the wrongdoers a better way of concealing such transactions.
4. They may consider bitcoin as a threat to their own currency, if there are less number of people using fiat then its purpose wasn't being used to the fullest.
.
These are my thoughts...

[adjudicator]

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 yet legal to all the country. There are still some countries who don't accept bitcoin. In my opinion, I think it is because there are some instances where bitcoin is being used for some illegal transactions. 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. The current currency may also be affected if bitcoin will get legalized to all the countries of the world.

[Juggy777]

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.  

No op Bitcoin is not bad at all. Bitcoin is indeed the best, the government who bans it don't really understand how good it is. They are stupid to loose at its benefits. If you want to know how good it is, look at Japan, the way it's adopted Bitcoin is awesome, it's economy has been given a boost, people are happily trading it. There are some fears that it can be used for terrorist activities, and that's completely baseless as Fiat money can be used to. So I feel you should not care of the negative news.

[dothebeats]

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.

[Golftech]

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.

That's the bad thing they think that this new currency will change everything in terms of  economics and without any controlled lots of illegal activity can be deal with crypto currency that's why most government which have some basic ideas about bitcoin really avoiding this new system.

[kiddeon123]

some countries do not allow the use of bitcoin because they have no way of controlling and tracing it, they cannot put any tax on it plus it can be used in illegal activities, they are afraid that their citizen might use it on illegal transaction once they knew about it. Most of the people who do unlawful things prefer to use bitcoin in there transactions instead of other payment options because its anonymous and cannot be traced, and that is why they are afraid

[krishnapramod]

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.  

A few countries did ban bitcoin because they felt a decentralized currency would be a threat to their centralized financial system, they felt bitcoin would be used for financial crimes, they felt bitcoin lacks consumer protection.

There is nothing stopping countries from banning bitcoin, but since they can't control it, a ban wouldn't be much effective. It would only lead to an increase in dark markets.

A couple of major countries have already realized the potential of bitcoin and it's technology and legalized it. Apart from a few countries that banned bitcoin around 2013-14, no other country has taken any drastic measures against bitcoin so far, trying to somewhat indirectly regulate it, not ban.

[sofi@]

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.

[Fappanu]

By the way, I know why stopping bitcoins. It is because you can save money on it and that's a violation of the goverment policy. And another is the destruction of the banks. Because no one is interested in getting money here. Because bitcoins are better. Banks may fall and lose. So one of the government's restraints. So here we are the Exchanger Company is very much stating when it comes to releasing our money on bitcoins. So all of our transactions are in the document and if you have a large amount of funds you can investigate them in the office and find out where this is going. So it's very hussle to use bitcoins with us and we are not free to accumulate bitcoins.

But all of this is for the good of bitcoins so we can be together

[Kakmakr]

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.  

Botcoin is bad, but Bitcoin is good. ^joke^

We live in a world where governments want to control all aspects of our lives. Look at the UK for instance. You have CCTV covering almost all major cities and they are linked to one of the biggest Police forces in the world. < Yes, the excuse is crime and terrorism >

Government regulations < KYC/AML > link all your financial transactions to individual citizens. They know what you buy, when you bought it and how much wealth you have.

Bitcoin is a threat to this "Police state" mentality, because it gives citizens some financial privacy and they will not allow this. China is one of the worst examples of governments trying to do this.  

[iamMhew]

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

Because if they allowed it, other banks may have been ignore or others if allowed bitcoin some people used this in bad things. But the main cause for me to what government ban bitcoin is to they get no interest from the people who earn bitcoin in other words they got no money .

include this also, and other government banned this bitcoin because of some report that those citizens of them had experience to some fraud and scam accusations involving bitcoin so they just awaring that not to happen again in their country.

[Rishabh riyz]

In my opinion some government ban bitcoins because of the anonymous nature of bitcoin transaction.
This could be used by some people to fund illegal activities and buying drugs or weapons.
The government fear that their national currency could die of competition , they fear that they would not have a peek in our accounts and would not be able to charge service taxes accordingly.
They fear that Bitcoin ones accepted can make their country Shadow trading zone.