Why do some government ban bitcoin?

[mozillaspez]

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.

don't mention it who is agree who is disagree the people choices what is better they want better then better earning for themselves so they join bitcoin and they believe bitcoin like that way the go for trading and invest in bitcoin.

[Nikola95]

Many reasons. BTC could be used for illegal activities, it is out of control of central bank and financial system of that country etc...  But those countries don't hate cryptocurrencies. Concrete BRICS ( China, India, Brazil, South Africa and Russia ) discussed about creating it's own crypto CC, but probably that would be under their control.

[Ucy]

It is simple:

Insecure governments especially those with agenda are in the habit of banning revolutionary ideas/technologies that seek to empower and free ordinary people.

[An0nyMoose]

Some governments ban Bitcoin because they are scared of it. They recognize it's potential and seek to stifle innovation by putting out misinformation and negative FUD about Bitcoin and the blockchain.

[Tukang Becak]

Bitcoin is decentralized, of course this makes the state can not control the bitcoin price, the safe way for the government is bitcoin banned so it does not require new rules more complicated.

[soulepek]

Many reasons why government ban bitcoin. Because they know bitcoin is not true or bitcoin is a kind of scam. Some reason why bitcoin is ban because many employees may not work because of bitcoin. That's other government banned bitcoin.

[An0nyMoose]

Some governments ban Bitcoin because they do not want to see it succeed. They want to see it fail so they try and defame it but no matter what they say the internet will find out the truth.

[Qartersa]

Name countries that are big and significant to bitcoins that banned it. From the list of https://coin.dance/poli, you will see that the only countries that banned bitcoins are:

1. Afghanistan
2. Bangladesh
3. Bolivia
4. Ecuador
5. Republic of Macedonia


Yeah those are the only ones that banned it! Hell I care about those countries, they can go love their centralized shitty money!

[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.

Before you go and try to criticize other's spelling and grammar errors, you might want to ask yourself the question of do you speak fluent English yourself? Coming from a fluent English speaker, it is quite clear that you do not.

I'm not a fluent English speaker, and i didn't do that in a bad way, i'm just trying to help. with spelling and grammar and sentence construction even though i am not a fluent English Language speaker I'm still trying hard to correct and perfect my English fluency and i do accept any criticism. but by your criticism, I will not stop criticizing others, specially it is for the betterment of the forum.

[guoyu78]

Because bitcoin is decentralized which is a complete opposite of how the government works, which is centralized. They cannot control bitcoin and
its uses. So they go to banning them. Though I think banning bitcoin is not an effective move because cannot really ban bitcoin. It is better if they just regulate it or the exchanges of bitcoin.

your opinion makes a lot of sense, banning the use of bitcoin will only increase the number of users who are anonymous, it would be more effective if the government controls exchange exchange from bitcoin to their currency, and the country can get income from the bitcoin fork tax to currency that can add to the country's income and may be able to lift the country much more advanced than before

It is not solution at all to ban bitcoins. People are very much interested into bitcoins and they are used to earning big profits with bitcoins. I think governments should figure out other methods of regulating bitcoins than banning them because it will simply put them in loss and tough situation.

[androidpobeditel]

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 unlikely that Bitcoin will be widely distributed as a currency in the near future. Its decentralized nature makes regulation difficult, eliminating intermediaries in the form of central banks. This was the idea of Satoshi Nakamoto. But many countries do not want to give up control over the money supply. Despite the fact that there are many arguments in favor of legalizing Bitcoin, it is still unclear what will happen in the future. We just have to wait and watch the events.

[Maddinson100]

My opinion about bitcoin government Because there are some things that have happened to bitcoin as in illegal payment activities, some also claim that bitcoin can also be used for money laundering. and bitcoin also no specified taxes. So the government gives this prohibition for fear of anyone doing something illegal that can not trace it

My question is why to ban such a profitable and evergreen investment government have no issue with it so they don’t take such irresponsible decisions many of governments are accepting it and adopting it in their countries so that they can give hand to economy.

[colenax]

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.  

is not what you think. bitcoin is the most advanced technology at the moment. that's why many countries are banning their involvement. because some countries fear a nuisance on their bank.

[judaspriest]

many governments are afraid of bitcoin. Why ? because often the users prefer bitcoin versus bank. that is the problem for the government and the bank. and many more factors, in terms of law and shrimp laws there is always a reason.

[jzale]

Bitcoin is having much attention right now that it is being utilized more and has more exposure. In my opinion, the government banning bitcoins is a way of saying that bitcoin is becoming a threat to some industries especially with banking and monetary systems.

[leisha]

Bitcoin seemed to boom in the industries, all central banks cannot control bitcoin that's why government is afraid to claim it. And i think they really thought that they can't legallized bitcoin that's why their banning it. People can launder money. Mostly, people earn money without paying taxes, they prefer working for bitcoin than become an employee who works hard and pay taxes.

[btcprospecter]

I think alot of governments didn't understand bitcoin as a currency but it is good to see a few embracing it at even buying into it it seems safer than regular stocks and shares as an investment point of view. And as a currency it has been showcased that it works.

[staff_1307]

There are several factors:

1. Bitcoin, like other electronic currencies, can be used to launder money or to evade taxation.

2. Virtual money does not have security. Also, there are no organizations that would be responsible to the holders of the crypto currency. Transactions are more speculative, and there is a risk of losing the price of Bitcoin in the future

3. The system does not have a controlling center, therefore it will not be possible to appeal or reverse the transaction in the reverse order. That's why Bitcoin was banned in many countries - under the pretext of protecting its citizens from financial fraud, which are irreversible.

[Colt81]

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 fact, there are some factos why governments banned bitcoin. They could not control it because it is decentralized. We all know that using bitcoin was tax free. I guess they think that it is scam even though it is not scam. I hope all government will accept bitcoin because I think it will help their economy to grown up.

[Rajat97]

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.  

More bitcoins will bring more uncounted money inside the country which can lead to various effects. To avoide this situation most of the governments are against the use of bitcoins.