Why do some government ban bitcoin?

[taxmanmt5]

I believe they ban it because they are scared of what bitcoin can do to us people. They will lose control over us once we earn a lot. The government has lots of secrets, so it's no surprise to me if they ban bitcoin one day.

Scare is one reason but another one is misuse of currency. I think the reason behind the ban is misusing of bitcoins. There's some disadvantage of bitcoins. Most of people us it in porn sites, dealing with drug  and  money laundering. Also people trade with bitcoins which hard to trace for government to get them under the taxes.

In order words, governments has lot of reason for which they may ban the bitcoins.

One country ban bitcoin because people use it in bad way like crime, they use it for paying drugs or what ever crime that is really related on money transaction, that is why governments really do not like to use bitcoin.  But then i feel if there is no bitcoin will there be no crime , no drugs and no illegal activities ? The answer to all this is No, so why blame bitcoin for wrong activity which is actually the fault of person and NOT Bitcoin to be blamed for.

[manoj kumar k]

bitcoin have banned in some of the countries because they thaught that there are some disadvantages in bitcoin transaction

[digitalgame4life]

I believe they ban it because they are scared of what bitcoin can do to us people. They will lose control over us once we earn a lot. The government has lots of secrets, so it's no surprise to me if they ban bitcoin one day.

Scare is one reason but another one is misuse of currency. I think the reason behind the ban is misusing of bitcoins. There's some disadvantage of bitcoins. Most of people us it in porn sites, dealing with drug  and  money laundering. Also people trade with bitcoins which hard to trace for government to get them under the taxes.

In order words, governments has lot of reason for which they may ban the bitcoins.

One country ban bitcoin because people use it in bad way like crime, they use it for paying drugs or what ever crime that is really related on money transaction, that is why governments really do not like to use bitcoin.  But then i feel if there is no bitcoin will there be no crime , no drugs and no illegal activities ? The answer to all this is No, so why blame bitcoin for wrong activity which is actually the fault of person and NOT Bitcoin to be blamed for.

It is proven that bitcoin can't be beaten and that it keeps rising and rising, the governments and other corrupt law affiliated people won't allow bitcoin to take over their power and money, in my oppinion they will do anything to keep the power in their own hands, on long term they will try to ban bitcoin but on the other hand they can't deny that blockchain and cryptocurrencies as a whole are a very good technology and that they will use it to their advantage, it is only a  matter of time when bitcoin will be bigger and they will ban it.

[1NV3ST0NM3]

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. 

Its all because governments do not want to lose control. Bitcoin creates a sort of parallel economy which is not regulated by government which frustrates them as people manage to evade taxes. This is why govt. Ban bitcoins.

[kramchers]

because if the popularity of the crypto on their country and so much big money are circling around its citizen which the FIAT is reducing the uses, though they cant get any tax with the crypto! thats clearly why ! also the bank issue in investment.. many are shifting to bitcoins !

[ShadyMash]

because the people who use bitcoin for there transactions are anonymous.so lot of illegal things like weapon exchanges,funding for terrorism etc., doing using bitcoins.that is the major headache for the government.and the low against transactions,applying of tax also cant use against Bitcoins.

[fiulpro]

They wish to prevent thw outflow of currency
They want to control the price of bitcoins
Many governments see it as a threat to their national banks
Many governments thinks bitcoins are made to defeat their economically big market that the posses.
They think it will give rise to crimes and all
There are many reasons, from.weird ones.to the ones who are legit.

[Matimtim]

In my own opinion the government ban the bitcoin in their country because bitcoin is very easy to use to send around the world that is why there is higher possibility that bitcoin transaction is hard to detect does not like a bank and no one knows how to impose tax in bitcoin to have goverment income in that part.

[usekevin]

They wish to prevent thw outflow of currency
They want to control the price of bitcoins
Many governments see it as a threat to their national banks
Many governments thinks bitcoins are made to defeat their economically big market that the posses.
They think it will give rise to crimes and all
There are many reasons, from.weird ones.to the ones who are legit.

My opinion is the government of many country had think the bitcoin will be the thread for their Country economy Growth.If the people of their country start to inverse in bitcoin means,they will stop to inverse in Market trade and that will impact their Economy.Even they had a fear that the bitcoin will replace their currency soon.If so,they can't able to control the people in the sense of Money.

[JollySkipper]

Because they want to control where the people spent their money and collect taxes. With cryptos can't do this.

[androidpobeditel]

Bitcoins and other virtual currencies are especially worrisome to the authorities, because such payments are extremely difficult to track - transactions are negotiated between buyers and sellers who may not even know each other's names.

[CryptogagaNews]

 Probably because they don't  know much about it or they are been selfish.

[SixOfFive]

Due to decentralized in nature, if BITCOIN become popular then govt. will lost control on the economy. This will arise problem like illegal transaction, Money laundering, Drug abuse and Tax evasion. Therefore, govt want to ban it or regulate it under certain laws so that Economy could remain in their hands.

[CisColtz]

Well come countries fear the bitcoin and it's technology because it's not regulated and so on but this are just early phases , because sooner or later the govs will accept bitcoin no matter what. Also you can focus on other coins if your country don't allow btc. Also don't forget about bounties , you can click on my sign to find more.

[meliodas]

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 must be thinking that bitcoin will take over. Let’s admit that bitcoin can affect a lot of things. Like economy, unemployment rate, etc. So some countries assume the worst. Thus, banning bitcoin.

[onetwostep]

Because governments scared bitcoin.
This is new financial system and any government beat bitcoin

[bozo333]

Because governments scared bitcoin.
This is new financial system and any government beat bitcoin

He don't no the bitcoin process and it how to work and how to improve the country. Government thing it affect the country. but it not affect the other currency. So it will help to the country and people improvement for the future gaining. Bitcoin is future for of the currency it transaction for the get the future improvement.     

[stompix]

They wish to prevent thw outflow of currency

Quite normal, there is no country that want money to flow out of the country.
Even goverments that have not banned but legalized usage of BTC are having the same policies.

They want to control the price of bitcoins

Once you ban it, it doesn't matter what the price is.

Many governments see it as a threat to their national banks

Apart from a few dictatorship states nobody really believe in this threat.

Many governments thinks bitcoins are made to defeat their economically big market that the posses.

I really don't understand what you wanted to say.

They think it will give rise to crimes and all

Every technology comes with a lot of crimes. This is the human nature.
Telephone scams, email scams, viruses every invetion was at least once used for crimes.

Due to decentralized in nature, if BITCOIN become popular then govt. will lost control on the economy. This will arise problem like illegal transaction, Money laundering, Drug abuse and Tax evasion. Therefore, govt want to ban it or regulate it under certain laws so that Economy could remain in their hands.

The goverment can always control the economy be it cash or bitcoins.
How do you think they are doing now and how do you think they managed durin the roman empire?
Tax evasion will be the same as it is now, you get paid in cash you get paid in bitcoins it's your choiche to take the risks and lie.

[Astvile]

government ban bitcoin because they cant control the crypto. bitcoin is decentralised and is very volatile. i also think governmet ban bitcoin is because it is not dependent on usg or gold

[Jaydeepjani]

Government banned Bitcoin because it will bring a decentralised economy and govt cannot control crypto . Bitcoin is volatile and govt has therefore banned bitocin