Why do some government ban bitcoin?

[manirobson]

Certain government ban of bitcoin is to protect their fragile economy. However, this is certainly a temporary thing. As knowledge grows their attitude will change.

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[Xester]

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.  

The only country that I know that banned bitcoin is China.  As for the rason, we do not know but maybe it is jusy protecting its economy.  Or maybe they will launch their own version of digital currency.  Or maybe they see that if bitcoin will continue its reign in their country, sime services offered by them will be dead or no longer patronize by its people.

[Best Dreams]

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

Well I think there can a lot of reasons behind this first thing is they want to use their people to work for them for tax return because tax is very important for the economy of any government and I think they consider this money is a black money for them and may be they thing this money can be used for terrorism or for such other bad things but I this this all don’t n make sense for how is it possible because every country have a strong intelligent and they can monitor very thing.

[kpcian]

There are some specific reasons whose are responsible for this issue. Firstly, I want to say about the unfamiliar and rumour about Bitcoin, I believe that most of the Government official don't know about this system. so lacking knowledge is one of the major barriers of this point. Secondly, Government official thinks that Bitcoin is using for the purpose of money laundering but they don't have any clear information about Bitcoin. and Finally, I think government considers Bitcoin as a threat to a banking system.

[PizzaBTC]

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.

Basically bitcoin is a decentralized and government has no control on bitcoin that’s why the government feels fear that might all the people not invest their total amount in bitcoin. Government runs through banks and banks runs through masses investment so if people invest their amount in bitcoin then what will the bank does and how the government will run. Keeping in view these panics governments are banning bitcoin.

[Vaskiy]

There are some specific reasons whose are responsible for this issue. Firstly, I want to say about the unfamiliar and rumour about Bitcoin, I believe that most of the Government official don't know about this system. so lacking knowledge is one of the major barriers of this point. Secondly, Government official thinks that Bitcoin is using for the purpose of money laundering but they don't have any clear information about Bitcoin. and Finally, I think government considers Bitcoin as a threat to a banking system.

That's true, several governments have a negative approach over bitcoin based on the scams and other illegal activities taking place with bitcoin. Same time few countries have been making a long research to use it in a better way. Some has already implemented it, maybe looking the growth of the countries that have already adopted bitcoin other countries too will adopt in future to grow good in economy.

[Bagaji]

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 don't think there is any government of the world that has ban Bitcoin in recent time. But what am aware of is that ICO and local exchange activities was ban by China government and later they started working on how to regulate Bitcoin activities. Though, Bitcoin can be use for illegal activities like any other currency in the world and that is why some government are trying to regulate its activities.

[Michaelinejhian#09]

There were several factors or reasons why bitcoin is ban.. One of this was most of the countries were afraid that it might become  source of funding for other illegal activities since it has higher value compare to the currencies theyre using.  Also in bitcoin, marketing strategies is way different in the business community.  We must admit thatince were using  high technologies,  its the fastest way to spread the news on the ads and marketing skills in every campaign or projects. Therefore,  it will cause reduction on the marketing investment that pay taxes to the government.

[aisyah88]

until now I still do not understand why in other countries .. maybe the government does not know the bitcoin fortune ... but maybe soon the government will know what bitcoin that does not harm any party ... hopefully

[LigwagGanern]

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 bitcoin banned by government because we all know that it don't have a tax. And they knew that bitcoin is dentralized. And government need taxes for their projects for their city. Therefore, they see bitcoin as bad thing to them. Government needs taxes, taxes from money, money from public service.

[BIG Tyrese]

Anything the government can't regulate or control they will ban and come up with some silly excuse like it funds criminals like dubai has done recently.

[yvesp110]

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.

Basically bitcoin is a decentralized and government has no control on bitcoin that’s why the government feels fear that might all the people not invest their total amount in bitcoin. Government runs through banks and banks runs through masses investment so if people invest their amount in bitcoin then what will the bank does and how the government will run. Keeping in view these panics governments are banning bitcoin.

The main reason the ban is that they can’t put its price in their own hands and on this point they become wrong they start thinking that it will give loss to their national currency and this thing is worst of them and more of it the sensible government never thinks about banning such a precious and profit able coin that Is bringing business and development in their region and sick management will do opposite.

[Virtual miner]

One of the biggest demerit due to which most govt are against bitcoin is it promotes illegal activities. Moreover it fosters lack of accountability. Not to count that its volatile and absolutely decentralized. Not demerits but these are a few things that governments dont like about bitcoin.

[leyton11]

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.

Basically bitcoin is a decentralized and government has no control on bitcoin that’s why the government feels fear that might all the people not invest their total amount in bitcoin. Government runs through banks and banks runs through masses investment so if people invest their amount in bitcoin then what will the bank does and how the government will run. Keeping in view these panics governments are banning bitcoin.

The main reason the ban is that they can’t put its price in their own hands and on this point they become wrong they start thinking that it will give loss to their national currency and this thing is worst of them and more of it the sensible government never thinks about banning such a precious and profit able coin that Is bringing business and development in their region and sick management will do opposite.

Currently, the government can ban Bitcoin and create some FUDs before the next fork happen. I think the next scenario is dump the price of Bitcoin again and create some traps pump for the altcoin market. Because the altcoin market can't recover in this year. There are too many traders bought altcoin at highest price. If the whale choose this year to pump altcoin, they can't make profits instead of pump in mid or the end of next year, 2018.

[Sasuke102001]

Actually what I can interpret is, it is not about bitcoin being good or bad is being the reason thaf governments are  banning bitcoin. One of the reasons maybe that they don't want a type of Currency which they will have no control over getting used in the country by their people. Each and every government likes to keep their subjects and currencies in their control.

[sayemcse]

i think that gov't have any idea about Bitcoin future. ok, i agree it's a cryptocurrency. what if gov't want they can open in his/her country. om lets come to the point

[macartem]

Yes, it's really bitcoin. It is banned in some countries, because the government does not know how to take tax from it

[stayeduptolate]

Many countries like china Bangladesh, Ecuador, Kyrgyzstan ban bitcoin. They declared it as a illegal thing. Their might be some reason here, which I guess it could be used  for Anti money laundering . Bitcoin might be use by anti social person in different wrong ways like Different criminal activity, it can be used for buying hard drugs, child pronography, assassination market etc. Another reason is might be government wants to destabilise bitcoin, because if a person buying a lot of bitcoin and sell them all when its price is high, then the economic market probably crash.

[mobilestrike]

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.

I am agreeing with you that some government is afraid of Bitcoin and its technology. They feel that if they support Bitcoin or accept Bitcoin then their own currency will be vanished and Bitcoin will rule over there. Some countries or government banned Bitcoin because lack of information and benefits of Bitcoin. Their thinking is too much limited. I am very hopeful about them that very soon they understand the value of Bitcoin.

[Targusluxe]

Because its not regulated. Governments cant collect taxes to bitcoin transactions. Thats the reason they ban it.