Why do some government ban bitcoin?

[moooonu]

Bitcoins are traceable upto a point after that none can find out where they disappeared. Recent example of this is ransomware every knew the address and it's withdrawals to three different addresses but in the end none knew to which person it belonged to. So it's not traceable at all.

[cryptofunn]

It is clear that huge money flows going past the Treasury, so the state and seeks to develop a legislative framework to regulate the movement of money through . Today, cryptocurrencies are a great channel for money laundering.On the other hand, the cryptocurrency can be an excellent outlet for the Russian economy, which is under sanctions. Invisible because acne Buterin went to Russia and met with Putin

[Lady Coquet]

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.  

In my own personal opinion, maybe some government in some countries think bitcoin is bad thing that it is been used in some illegal activities. That's why we need to rid of the people who used bitcoin in bad activities or illegal activities because the government will removed bitcoin in the internet if it continues.

[Heni23]

because the government's reason for banning bitcoin is that the government considers bitcoin to be a potential crime for money laundering, terrorist financing and so on. . .

[Heyyyrenz]

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.  

Actually the main reason why some government banned bitcoin is that because they're not getting any profit from the community or from the workers or in short they don't get any taxes from the bitcoin users. That's why some of the countries ban bitcoin because there are many workers who works in cryptocurrency and earn a lot and they don't pat any taxes.

Yes maybe they can spy you through spyware but you can try to hide your vpn.

[kateycoin]

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 the reason why some countries ban or not accept bitcoin because their law and they protect their own currency. Bitcoin is not bad actually lots of people help because of bitcoin. I think its up to the users some of them use bitcoin in bad way and some use in a right way.

[Cyberczar]

Governments are concerned that bitcoin is not within their powers to control and track. They want to be able to monitor the inflow and outflow of money in their economies and maybe for record purposes and planning.
There is another issues of taxes. Transactions made via bitcoin is not easy to track, especially on international scene. I think every government wants a cut of the pie in your business.

[xypos]

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 isn't bad at all.

But central governments see bitcoin as a threat to their control over the economy, since nobody can control bitcoin as it is decentralized. They can't manipulate bitcoin into doing whatever they tell it to do, either.

This is the main reason why bitcoin is facing very tough regulation atm, in my opinion.

[lioncava]

Finally, attack the *image* of Bitcoin. Publicize the hell out of its uses for hard drugs, child pornography, assassination markets, etc. Fabricate a case if you have to. Get it embedded in the average person's mind that Bitcoin = Currency for Criminals.

[CryptoContrib]

Finally, attack the *image* of Bitcoin. Publicize the hell out of its uses for hard drugs, child pornography, assassination markets, etc. Fabricate a case if you have to. Get it embedded in the average person's mind that Bitcoin = Currency for Criminals.

Hope will not happen here in my country..

[fredo123]

Some ideal reasons like for money laundering, tax evasions, and anonymity of user, Government are powerless in tracing transactions using bitcoins. That is why banning takes place in ones country.

[rjbtc2017]

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? It is not Botcoin it is bitcoin please, you should always try to at least proofread your sentences/paragraphs/spellings before posting. Anyway, as for your question Bitcoin is banned by other Country's Government is because of first: Threat, Government somehow sees Bitcoin as a threat to their currency. Second: a medium for: Terrorism, bitcoin's secure transaction could be away for transferring funds from one another, Bitcoin also can be a medium for money laundering. That's why some Government of other countries bans it for this reason while some other choose to regulate it rather than banning it.

[Mr. Legendaris]

Of course the government has special consideration and long term why banned bitcoin, but the main reason is the concern if bitcoin is legalized then everyone will leave conventional money.

[Dainye_dyep]

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.

Yes it is and government see the unstable price of bitcoin may affect their economy so some of the countries world prohibit their citizens to use this because they think it will it is bad for them to legalized it. Since governments are centralized I think it will be a threat for them since they cannot control, it is naturally designed as volatile and decentralized which is not into their paths.

[DevilSlayer]

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.  

One of the reason why some countries ban bitcoins like China because the value of the bitcoin is so volatile. Their central bank doesn't like the quality of being volatile.

[miyong]

In my opinion, some countries banned it because they cannot control the in and out of money, every government should have a certain amount of money that circulate beyond it. No particular identity of the holder unlike in bank. Fast and easy fund transfer without verification.

[maxel2017]

my opinion government has scared about bitcoin manifesto ..they think if bitcoin become a legal money in the world they can't control market....and the community will freedom from the task amnesty...so they will find new way to take percent from this digital money..

[stephanirain]

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.  

In my own opinion, maybe the government ban bitcoin in their country is because they think bitcoin is a bad thing or think it as a scam. That's why many people who uses bitcoin convince many people to use bitcoin so they can see the greatness and the benefits of using bitcoin.

[ajmapalo22]

The idea of bitcoin is good it was created so that many people will have the opportunity to earn. It is also introduce so that transaction worldwide will become easy and payment can be settled on a timely basis. The only problem is that owning bitcoin has no limitations and government might be afraid that bitcoin can be use for illegal purposes which I think they cannot trace even control that is why they need to ban it to prevent such case.

[Marry Finch]

After bitcoin and other crypto currencies increased greatly in price, some governments were worried that a significant portion of fiat money flows into the crypto currency and then it is withdrawn from the country. This is detrimental to the economy of the state. First of all, this has to do with the situation in China, where the Chinese government directly called the crypto currency a threat to its economy. This is primarily a concern for countries with an inefficient economy and an unfavorable investment climate. Countries with a successful economy have nothing to fear. The money supply in any form, whether fiat, or crypto currency will always remain there. These are the usual processes of the market.