Why do some government ban bitcoin?

[FRJ]

I think the goverment those who have banded bitcoin think it is a threat to banks.Because it is out of central bank's control.Again,bitcoin was used in many illigal activities before. So,they are may afraid of these reasons.

[subSTRATA]

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 !

honestly dont think this could be it, even if bitcoin is booming right now, i still think the actual percentage of people who use bitcoin hasnt event broken 3%, although there could be actual stats that say otherwise (this is just my personal take on it, i don't run into very many people who actively use bitcoin). in addition, japan's government is fully supportive of bitcoin (although there are rumors they plan to ban ICO's, those are ust rumors, and are not tied directly to bitcoin itself), and that is something i have personally witnessed myself. in tokyo, there are many merchants (saw it more so in larger stores, hardware stores especially) that openly accept bitcoin. id assume these stores do pay taxes for legal reasons, but i dont see how the government would be able to track individual citizens who use it without disclosure on the users' part.

[Sadlife]

They ban bitcoin because it is a threat to their fiat debt based system that is centralized and designed ti oppress, exploit and control the people they wouldn't let a digital currency ruin their money making method that is way better and that is supposed to be what their fiat currency is. Because it lets telhem send payments globally, it's secured, low fees an decentralized. That's why they ban bitcoin in their countries.

[Chachacoin17]

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.

Yes,  I somehow agree with you mate. Like China, a Communist country did it. Their government always has the power to do what their government wants without the majority decision. Good thing we are in a Democratic country!  Another thing is, that's why.bitcoi is banned by other countries because it is decentralized and it's out of government's control.They can't taxed it.

[chayskie04]

I think some governments think that Bitcoin will badly affect their economy and fiat currencies and have many doubts about it as it is a decentralized digital currency not controlled by them, so they try to ban it. But their ideas are wrong bitcoin is already helping so many people around the world to get an extra income.

[achikomimi]

I do not know exactly. Maybe it is a threat to them? or maybe because they do not want Bitcoin because they cannot control it? Or maybe they just manipulating it to the extent that they will announce FUD news.

[cjinny]

I think the government bans bitcoin in this country could be because of the reason for maintaining the stability of their currency, the prevention of bitcoin is misused by criminals.

[annanava]

We can't say that BITCOIN itself it's bad, and that's why some governments have banned it.
We can say that BITCOIN had been used for laundry money, corruption, mafias, and other crimes.
However, I must say that with a respectable law framework, we couldn't have the same issues, and the tag of being "BAD" is just a political method to continue having the status quo of the baking and finance in that country.

[Gabrieelle]

I think some governments think that Bitcoin will badly affect their economy and fiat currencies and have many doubts about it as it is a decentralized digital currency not controlled by them, so they try to ban it. But their ideas are wrong bitcoin is already helping so many people around the world to get an extra income.

Yeah I think they are afraid what will be the effect of bitcoin to their economy and to the value of their paper money all because they cannot really control it. It is not beneficial to the government but to the population of the country it is beneficial because they are earning money to support their needs.

[dificanovi]

I do not know exactly. Maybe it is a threat to them? or maybe because they do not want Bitcoin because they cannot control it? Or maybe they just manipulating it to the extent that they will announce FUD news.

in my opinion, they do not accept bitcoin because they want to manipulate. if bitcoin is received in a country then it will make the poor become rich, therefore it is unlikely they will refuse bitkoin because bitcoin will threaten their country.

[BlueStackz]

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

You have mentioned the two important reasons in which one is the decentralization and the other is the volatility nature of bit coin for which some government banned bit coin in their concern countries. In addition to the above captioned reasons I would like to high light another reason which is definitely the control of scamming and hacking in crypto world.

[Bellator]

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

You have mentioned the two important reasons in which one is the decentralization and the other is the volatility nature of bit coin for which some government banned bit coin in their concern countries. In addition to the above captioned reasons I would like to high light another reason which is definitely the control of scamming and hacking in crypto world.

Other countries may have rights to ban bitcoin for that reason of scamming or somewhat hacking, but I don't don't think its fair to those who were able to choose bitcoin investments maybe hinder by the government regulations. If they wanted control over crimes, well it can be done prior website transactions be monitored by the authorities IT support expert and can be funded by government as well if they will. That's how I view it as a positive scenario that banning isn't right for bitcoin, but it gives freedom to those who did the right ways of earning profit.

[ed_Berrington]

Bitcoin becomes dangerous for many components of life. This cryptocurrency is free, independent, does not allow the country to earn money on its citizens.

[paloloy]

The main reason why some governments are banning digital currency is when they lack information and research about it, they think their economy will be affected due to its demand like what China did way back months ago but the ban was lifted after they created some regulatory over blockchain technology. They Cracked down some coins exchange and it affects Bitcoin value and decreased after that event.

[Zeveru1001]

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 has both sides legal and illegal. Bitcoins are been used in some most illegal works and perhaps that is the reason why government is banning bitcoins in some locations.

[Allan Ramanda]

bitcoin is freedom. bitcoin can affect the people's economy, so the government wants to control bitcoin completely, but it can not be done by the government.

[G_Besar]

My opinion is why the government forbids bitcoin because the central bank is one of the reasons, imagine if bitcoin is authorized by the government, there will be how many banks will be closed and how many thousands of banks are fired.
In addition there are many other factors why Bitcoin is banned by the government, Bitcoin has not been accepted by most of the general public.

[moanamakeway]

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.

In my opinion, Bitcoin is a threat to banks all over the world. They (Bitcoin) have gathered the sympathy of people because of decentralization. Also, one of bitcoin's features is its anonymity --a feature often taken advantage of by some users. Anonymity allows some people to transact their illegal actions, fund crimes or even buy drugs without the government looking out for. If these kinds will persist, the government will not even hesitate to ban bitcoin and other forms of cryptoccurrencies within their territories.

[Baggong]

The government banned bitcoin because they were worried about the use of bitcoin will shift the legal currency, because bitcoin can not be controlled so as to make the safe way is banned bitcoin.

[leyton11]

I do not know exactly. Maybe it is a threat to them? or maybe because they do not want Bitcoin because they cannot control it? Or maybe they just manipulating it to the extent that they will announce FUD news.

in my opinion, they do not accept bitcoin because they want to manipulate. if bitcoin is received in a country then it will make the poor become rich, therefore it is unlikely they will refuse bitkoin because bitcoin will threaten their country.

Why do the government accept Bitcoin = make the poor become rich Can the poor have chance to use Bitcoin or know method make money through Bitcoin without investment? You have to know, the poor do not have money to buy Bitcoin, the value of Bitcoin really high and they can not buy it. So, the final choice is make money through Bitcoin without investment, but who will tech them? Nobody.