Why do some government ban bitcoin?

[daenarys_stormborn]

because I think the government is afraid of bitcoin is too out of control, the most feared is inflation due to money in circulation or in the bank fewer, because everyone put his money in bitcoin

[mehcat11]

Maybe because bitcoin has the possibility of exploitation by criminals and terrorists. Bitcoin has an anonymous transaction, so that is difficult to trace and susceptible to abuse by criminals, especially in money laundering and financing of terrorism.

[GrayFullbuster]

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.  

Governments ban bitcoins because they see the bitcoin as a bad thing. Like in China, all of the Cryptocurrency there are banned because the government of China says that it has bad effect.

[Rj Manik]

Some countries think of the government,Bitcoin takes the country's money to another country. Moreover, the government can not take any benefit from transaction of bitcoin.the government can not meet the financial system if the country.For this, the government of some countries banned Bitcoin in their country.

[0t3p0t]

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 is because governments think Bitcoin can be used to fund terrorists, money laundering or any other illegal activities. They may also see Bitcoin is a threat to local currency. Depending on the reputation or activities involvedment of Bitcoin in a specific country. I don't think Bitcoins can be used to locate it's users because Bitcoin is an open source and decentralized. They can only monitor our transactions through local exchanges with KYC. If Bitcoin is a spyware then why do people are keep on using it? Even high profile people and government employees also take part in investing into Bitcoins and they do even have huge stash of Bitcoins in their wallets because they feel safe with Bitcoins since these individuals also want some privacy in terms of their personal assets. They don't want the government to know about their assets maybe because of tax and realty check.

[gilangIDR]

Some countries think of the government,Bitcoin takes the country's money to another country. Moreover, the government can not take any benefit from transaction of bitcoin.the government can not meet the financial system if the country.For this, the government of some countries banned Bitcoin in their country.

Basically the government of a country does not want to see their economy deteriorate. In addition bitcoin is also currently very easy to use for crime. One that the government wants to avoid is corruption. Because corruption can destroy a country's economy.

[darewaller]

because I think the government is afraid of bitcoin is too out of control, the most feared is inflation due to money in circulation or in the bank fewer, because everyone put his money in bitcoin

I think the reason is that they believe Bitcoin leads to money laundering, so they need to find a way possible to stop it. Another reason is that some people believes that Bitcoin is used for so much evil on the internet.

But if the government is going to believe that, then they’re mad, because they are the worst criminals humankind has ever seen; yes, government is filled with criminals who even do much than money laundering and whatever the reason that puts them against Bitcoin.

[Sidas_Crew669]

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.

Don't confuse pseudonymous with anonymity. Bitcoin transactions are transparent, it is not anonymous as you put it. If the fed want to analyze a specific transaction and trace who's the person, they can totally do it. Bitcoin is still in the process of improving anonymity once lightning is activated fungibility goes through the roof, and anonymity goes through the roof. There are cryptocurrency projects that focuses on fungibility such as monero and others.

For the matter of anonymous is a bitcoin visible is probably possible to be difficult to trace, because I see that all the data in the wallet of each user is difficult to track. But this is not really something to discuss, because anonymous is not an advantage we should seek (unless we want to do something illegal). So it's better to think about how to get a lot of bitcoin, so that the future can get many advantages of bitcoin.

[barabarian1]

maybe bitcoin dangerous for some country, or they affraid of bitcoin inflation.
cause of bitcoin dont like gold, so they affraid botcoin will defeat their money. so they ban bitcoin.

[TanClan98]

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.

Question here again

What are this bad effects the the Government of China see in bitcoin?

I Think just maybe group if China people might collaborate or join together as one group. What do you think they should do?

[haroldtee]

Why won't some of them do, since it is a threat to their previous activities of controlling fiat currencies? In the past they have always been using central banks to do some of their evil work and controlling distribution which most times affects the downstream. And then a decentralised currency came all of a sudden which they can no longer control and is already disrupting usual methods. However, there are some who believes criminal activities will increase but I believe this can easily be curtailed.

[stellgod]

maybe bitcoin dangerous for some country, or they affraid of bitcoin inflation.
cause of bitcoin dont like gold, so they affraid botcoin will defeat their money. so they ban bitcoin.

Governments want to ban bitcoins because bitcoin has introduced a concept of decentralized economic system and global currency to them. They have feared that this concept will discard the modern banking systems from the countries and they will be getting no profit from the people. Bitcoin is becoming uncontrollable for them because of increasing number of users all over the world.

[avikz]

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 banned but bitcoin related exchanges and businesses are banned in China. That is not worldwide. Bitcoin is still running in majority of the places and all over the internet. The Chinese government must have received a huge pressure from the organized financial sector about banning it because bitcoin posses a huge threat to the mainstream banks.

Bitcoin is anonymous in nature and hence it can't be tracked directly. However, all transactions are available through a public ledge called blockchain. It can be used to track you down. However, China didn't ban bitcoin yet. THE good news is that, Japan has started giving away licenses to the crypto currency exchanges. It will surely boost the price of bitcoin and also increase the acceptability of it. 

[audrey12]

I guess the main reason why some government ban bitcoin is because they doesn't like the idea of crypto currencies, aside from the fact that they cannot control it, they will lose all the power when regards to their economy, because bitcoin can stand alone without any bank or government.

[imsotiredofmoviereboots]

All I can think of is China.  If they do it, I can only think of one reason and that is they have no power to manipulate the economy anymore  because btc is decentralized and that is what China does't want to happen.

[Rose119]

Maybe because government is not related in bitcoin, they can't control it. That's the only way for them to control it, to ban bitcoin in there country , well hopefully they know what the value of bitcoin and how bitcoin will help the economy so they should not be banned.

[catvantuong]

Because they think bitcoin will be one of the causes of bad activities. So some countries banned bitcoin.
 But when the world uses bitcoin, their country will also use bitcoin

[traderethereum]

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 its because the government is not yet learn what is bitcoin and they only know that bitcoin is for illegal activity. but if they can learn more then i think they will realize that bitcoin is the best thing that they can adopt and i think it could help them to fix their economic if the economic in their country is not works good. beside that, with bitcoin, their citizen can have additional income and it will help their people too to solve poverty problem in their country.

[sana54210]

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.  

absously this sad to us regarding more country now follow the chine government banned the ICO, but i believe sooner the countries banned the ICO will fixed this issues, and i think the dev's have a step how to fixed  countries involve this problem.

Woh Guyz, give you a little break. First of all, all those governments who have been supporting the world of crypto coins are still engaged in it. Secondly, there is a huge difference between banning of ICOs and Banning of bitcoins. ICOs are unregulated, that's why China banned it but they rank in top five countries who have welcome bitcoins.

[qwertyup23]

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.  

You need to know first that bitcoin's nature is decentralized and volatile- meaning, no bank or entity can ever regulate it. Another thing, due to its decentralized nature, people use bitcoin as an avenue for illegal transactions due to its anonymity in terms of transacting with individuals. Have you ever heard of the dark web? If no, people use bitcoin as the medium of exchange on that web and it mostly, it contains contraband activities. Lastly, government bans the usage of bitcoin because they can't impose tax on something that is mostly used by the general public.