Why do some government ban bitcoin?

[Oppang Inamo]

Because of high demand rate but low tax,that's the problem of other users and the other governments didn't being aware of what is happening in the bitcoin,just like the China they banned bitcoin because of they didn't know that bitcoin is being their problem.And the other is bitcoin is used for illegal since bitcoin is not familiar to ordinary people they didn't know that when bitcoin is withdrawn in the bank or ATM it has no transaction info,so many illegal users and illegal recruiters abuse it.

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[Leomarco]

i don not know exactly.. but maybe government has a many reason so they ban bitcoin
but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason

[cryptojac17]

i don not know exactly.. but maybe government has a many reason so they ban bitcoin
but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason

In our country bitcoin is not banned instead the central bank is making policy guide lines for virtual currency exchanges. It is the policy of the Central Bank to provide an environment that encourages financial innovation while at the same time ensure that it will not be used money laundering or terrorist financial activities and the financial system and financial consumer are adequately protected.

[Chrystora123]

this is my opinion, I see this time Bitcoin has begun to be noticed by the government,
entrepreneurs seem to play a little role in the government in order to reduce the price of Bitcoin,
so the entrepreneurs united with the government to banned Bitcoin for the price down and they can buy it with a lot..

[manoj kumar k]

the government has thought that the bitcoin is a fake currency and can be closed in any time ,if the value of the bitcoins falls down the entire economy system will fall do so they hav banned in some coountry

[Lumada]

this is my opinion, I see this time Bitcoin has begun to be noticed by the government,
entrepreneurs seem to play a little role in the government in order to reduce the price of Bitcoin,
so the entrepreneurs united with the government to banned Bitcoin for the price down and they can buy it with a lot..

Businesses usually companies uses IcO now to gather some funds to make thei project success,at this way some beneficiaries were from different countries that can make their economy weakensas well as it's more prone to scammers that might affect businesses economy.

[arnux]

They fear anything they can't control so if they can't regulate anything they'll end up banning it only some countries will embrace Bitcoin for what it is.

[koeb88]

They fear anything they can't control so if they can't regulate anything they'll end up banning it only some countries will embrace Bitcoin for what it is.

Thats the big point, they can't control it. If they find a way to get into cryptocurrency with tax controls maybe they will introduce it as a official payment.

[Mr. Thang]

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 have to understand first the nature of bitcoin before asking the question. Due to bitcoin's decentralized and volatile nature, any government institution or big companies cannot regulate its transactions, thus making the individuals anonymous during the process. Also due to its volatile nature, one cannot simply predict accurately its final price which comes from the law of demand and supply.

Some countries in Asia ban the usage of bitcoin since due to the reasons I stated above, government cannot track down the individuals involve the transactions. This results to bitcoin being used as the main medium of exchange under the dark web to purchase illegal drugs, hiring of pitmans, or any other related illegal actions. Mainly, bitcoin is used as the main money in exchanging for drugs as what happened in the Silk Road crime.

[krun4]

The government more or less thinks of their interests and if something (investment, opportunity, new law) doesn't serve them it should simply be removed for a greater good (greater good for whom I can't tell). Keeping this in mind BTC is uncontrollable by them and mostly we as person can benefit from it, but the government as whole didn't find it's way at this stage.

[yanskie18]

For me i thing the main reason why some government banned bitcoin is that because they're not getting any profit from the community 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 people who works in cryptocurrency earn a lot and they don't pay any taxes.

[Aba]

In my opinion,with the advantages of bitcoin that is not controlled by the government or central bank makes bitcoin much in demand by people, gradually banking functions as a provider of banking services will be replaced by bitcoin, thus created fears to the banking and government. thus making bitcoin banned by some goverment.

[killerfrost]

There is so much to say about this. Bitcoin is really good, it goes through both cash and gold. It is not taxed so the government loses a tax amount. Bitcoin secures transactions, so shady, illegal transactions can take place without being detected, the government does not like this. Bitcoin disturbs the economy, causing many people to become poor so there are many reasons for the government to banned Bitcoin.

[romecheo]

I See topics about banning and I want to ask.
Is botcoin really that bad? To banned by other countries?

Absolutely Not. Bitcoin purpose was very great for the benefits of people.

Do the other government in other countries see something bad?

Yes, since government are no control over Bitcoin, the Government cannot earn profit by taxing Bitcoin.

Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

Nope, Bitcoin wasn't design for spying on people.

[Hasbro27]

I think the government of a country is uncomfortable with bitcoin, because it uses more bitcoin than cash, because of the ease with which it is provided and more to the bitcoin superior than cash, so many state governments are prohibited from using bitcoin.

[kiver]

well governments tend to control everything and when they see something they cannot control they have to shut it down i hope this doesn't happen
and the bitcoin community could come to an agreement that could that benefit the world from such a great technology

[mongkie]

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.  

technically, no government banned bitcoin. it is the ICO of other cryptocurrencies because of the scam reports that the government recieve from icos and other exchanges.
some people uses the blockchain technology to lure investors to scam projects.

[JTASSOCIATES]

We cannot answer technically about why do some government ban bitcoin. But we can logically assume about it. First and for most is Bitcoin is cryptocurrency which has no boundaries of its growth and it is not controllable and it is independently working in the benefit of People who involved in it. Government may afraid that it may impact in their financial policy and due to that may be economic of the country not immediately but in future may affect that's the major reason I believe. Banning is good because of that only we plan how to access and how to plan our future with bitcoin all question and technical aspects raises and it solve that issues.

[Lorilikes]

This is something that implies government CAN ban.  They can't.  It's literally unenforceable and any region who makes a law actually banning Cryptos is trying to call create criminals - or trying to boost revenues only .  Why ? Because that would be a lot of tickets or citations = money. 

[kyori]

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.  

Maybe because of their economic growth they are worrying to loss some investors because they are moving to bitcoin and because of money laundering