Why do some government ban bitcoin?

[Nerman]

What i think is since they cannot regulate bitcoin.Some of them have excuses that it is being used to launder money or to purchase in the black market. We also have taxing issue with bitcoin. They also cannot control the price of it.
We may also encounter reason that out of this world since politicians are usually old and they do not understand the block chain technology. People usually fear what they do not  know

 This is scpeculation but it is possible that they will create their own coin.

I think countries just need to face the reality that no one can stop bitcoin. They need to adopt with new technologies.

[Md Saad]

there are some specific reasons behind this issue, Firstly, Most of the government official don't have any clear information regarding Bitcoin, they have a superficial knowledge regarding this issue. so lacking knowledge is one of the main reason for banning Bitcoin. secondly, they think that Bitcoin system is suitable for the purpose of money laundering and naturally it is harmful to the economy. Finally, I think Government seems that Bitcoin is one of the great threat to the local economy and banking system that is why they don't like Bitcoin.

[neonshium]

My only humble opinion about this topic is that the usage of cryptocurrency is disclosing all transactions, which is not the most desirble thing for corruption goverments.

Yeah that’s the point but making check and balance will eliminate this possibility and more of it the governments that are banning it just because of this concern otherwise no other government is banning it because they all know that this coin is the symbol of development on the area and via this coin they can earn a lot of profit and the living standards of their citizens may also get changed and bitcoin owe it.

[Habakkuk77]

Some  countries banned bitcoin because it can affect their government  income tax and it might also affect economical services.
They think that banks will no longer have power and it will be change into bitcoin.

[wormgummy019]

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.  

Some government ban bitcoin because they knew that it has no tax. Bitcoin is tax free. And government needs taxes as their funds for their projects in the city. So, if they approved or accept bitcoin in their country, where they will get a funds? Where they will get a moneh for their projects? They need tax, they need money so that they didn't accept bitcoin.

[gaitchs]

Government is afraid of something they cannot control

[RiskySanchez]

Because the government has a complicated regulation of bitcoin. the first of the digital currencies that some political experts say would harm and affect their finances. The BTC has global scalers because it includes global currencies

[Cryptohunt]

I think the reason the government refuses bitcoin is to avoid money laundering, where many of the countries with the highest levels of corruption prevent gratification of corrupt officials through bitcoin because bitcoin still has not been taxed.

[conected]

there are some specific reasons behind this issue, Firstly, Most of the government official don't have any clear information regarding Bitcoin, they have a superficial knowledge regarding this issue. so lacking knowledge is one of the main reason for banning Bitcoin. secondly, they think that Bitcoin system is suitable for the purpose of money laundering and naturally it is harmful to the economy. Finally, I think Government seems that Bitcoin is one of the great threat to the local economy and banking system that is why they don't like Bitcoin.

- Yeah, I think the reason is mainly due to the Bitcoin no taxes, it is used for illegal activities and money laundering, the government can not control, they can not collect taxes, that made them not receive any benefit, so they decided to ban bitcoin. In my country, they have also decided to ban bitcoin by the end of the year, they do not allow people to continue using bitcoin, I really want to say they are stupid, although bitcoin has a negative impact on the economy but it can bring a great source of income for the people, from there, people can build and develop the country. Governments want the country to grow, they need to accept the bad side of bitcoin, they should not look at negative thoughts and ignore benefits in the long run

[lady Royal]

Well some reasons I think they ban bitcoins because, They don't get money from the Bitcoins from the users that is why they panic. We do not pay any tax to government for using it if we start paying tax then maybe the will legalize it. Becauseit is anonymous government don't know who is using bitcoin and for what purpose it is being used.  These two are the main things in my opinion.

[krky]

As far as i know Bitcoin is decentralized this is why government can't control or regulate it and i guess its a potential threat to the existing bank in their jurisdiction so i think this is the reason why some government bans the Bitcoin.

[poletando]

that government is afraid that bitcoin affect their economically in their countries, maybe inflation if bitcoin exist in their country, and maybe government is afraid that someday bitcoin will scam and many people depression.

[benjamin11]

I think some government ban bitcoin because they dont really understand what it is. They dont really understand its nature and how it works. Because bitcoin is virtual, all processes are done online so it would be difficult to control and regulate it by the government.

[MMA]

My only humble opinion about this topic is that the usage of cryptocurrency is disclosing all transactions, which is not the most desirble thing for corruption goverments.

Yeah that’s the point but making check and balance will eliminate this possibility and more of it the governments that are banning it just because of this concern otherwise no other government is banning it because they all know that this coin is the symbol of development on the area and via this coin they can earn a lot of profit and the living standards of their citizens may also get changed and bitcoin owe it.

The reason that comes to my mind is that bitcoin provides everyone an opportunity to earn and raise the living standard of the users while bypassing the banks. Banks are the institutions controlled by the governments directly and from where the government gets the statistics of the county’s economic status. Now this is a challenge for the governments that will it evaluate the county economic status when the banks will not be involved in the economic activities. The other reason is that the governments are feared of losing control over the economic activities. So, there will be too many obstacles for the government to make and implement new economic policies. Due to these challenges the incompetent governments don’t want to legalize bitcoin as a currency.   

[krigger]

Governments are supposed to control. They write laws. It is what they do. Unfortunately, sometimes they get it wrong.

[bazdarx8]

Because they can't make a profit from it so they want to ban bitcoin first or find a way for them to make money before we can make money. I believe the government want to ban bitcoin first and have control so they can somehow find a way to make a profit for themselves.

[GhostHoglet]

Because of the features of Bitcoin that no one can monitor your identification. Cybercriminals are actually washing money utilizing Bitcoin. And because of becoming anonymous when you send and receive cash, many people buy illegal issues using Bitcoin. Because of that Government are not legalizing Bitcoin because of people who find themselves by using this being an object to do illegal activities.

[Zubayer]

Actually government wants to make sure that countries GDP should not lower. Because bitcoin has some power which can destroy all money banks. So government ban bitcoin.

[Diamondgirl]

one of the cause is they couldn't place taxes on Bitcoin.. federal government cannot earned or go out of bitcoin.

[ujjwalsethi]

It's due to bitcoins are tax free and government can't earn any money on bitcoins. This is the most important reason that why government is putting ban on bitcoins moreover the other thing is that its cryptocurrency that can't be handled by the government.