Why do some government ban bitcoin?

[Jose21]

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.  

Government ban bitcoin because it has no tax. Bitcoin is using transaction to deliver the payment of someone to one another. Governmet cant track that transaction because it is has many anonymous users and it is decentralized. It means that anyone and everyone can use bitcoin all over the world.

[Mrengage]

Because they don't have control over it and likewise they cannot approve what they are not accountable for

[HackS]

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.  

My opinion is that every piece of modern technology  can and is used for locating people for example did you ever read what are you accenting when installing any application for smartphones?And as for countries baning btc that is really unlogical there shouldn't be any law for it (but there is always a problem when people earn and countrie doesn't profit)

[nicoly]

Bitcoin transactions are encrypted and while they can be tracked by involved parties, bitcoin provides a way to keep money and transactions away from the prying eye of the regulators. There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls.

[futuret]

Simple answer: They do not want to lose control.

Yeah it is the main reason because they just want the bitcoin to be the second currency only and they want to increase the fiat because the government use the banks and the other sources for the bitcoin to hold and the bitcoin is the best resource of the income I am sure the bitcoin will grow fast and the income of the people who are using bitcoin more and more I hope the future of the bitcoin is high.

[MCVXYZ]

Because Goverments have own,non-comercial national banks,wich are connected with comercial banks,these banks control  economical environment and Financial-Monetary stability. First of all,I hope that developed countries will not do this,because for this regulations,they need to have reasonable,proportionate legal basis,wich they have not. this ,,arguable'' system olso  serves to public interests, improves economical-social relationships and offers financial nuance,wich other centralized  institutions can not afford.Goverments said that bitcoin leads to increase of cyber crime but we all understand that it's possible to eliminate by appropriate state resources.needed to be free will from politican institutions.In my opinion,goverments must not  confront so many people's  profitable-oriented interests.In general,interrelations wich are not regulated and prohibited by law are considered admissible.it is not a good reason,that bitcoin is decentralized.the prerogative of countries are people and not bank or other financial institution(private sector)

[Momoamzad]

They are actually insecure of bitcoin😂they thought it can't control by central bank and if it would legalized they will lost the control  the main power . this is also can happen that they thought if bitcoin  will be legalized then many dishonest people will misuse it .

[rumexx]

With the decentralized nature of Bitcoin the government will not be able to collect taxes and tariffs from all the transactions that will be conducted through Bitcoin. This is one major reason. Government will not be in control of Bitcoin.

[HiringYou]

 Some of the countries ban Bitcoin because of it's decentralized nature due which they are unable to control it .Other reason can be it's usage in illegal dealings of drugs and ammunitions . As the transactions through Bitcoin are anonymous in nature so it is impossible for government to track the people involved in the transactions ,that is why people find Bitcoin more safer for these illegal dealings.Maybe due to the fact that Bitcoin is becoming a threat to banks as people are choosing Bitcoin over banks for investments, transactions etc, some governments are banning Bitcoin.

[Delarock]

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

[BlueStackz]

because it is out control of central bank and not depeond on $ or gold or oil

There are lot of reason why they banned bitcoin. One of the reason why they banned it is because they can control and we all know that bitcoin is decentralized where no one can control it. In addition to that,  we all know that bitcoin was tax free so that they banned because they could not get any tax.

Some governments ban Bitcoin because their own national currency gets the value due to excessive use of Bitcoins. Moreover the other reasons might include the increasing rate of crimes in term of the bitcoins because any transaction could be done with complete security and also that the information remains non traceable. Moreover banning the bitcoins in specific countries is just to give a way for another price increment.

[Gumpfire]

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.  

In my own point of view, the government of some countries banned bitcoin because they think bitcoin is not a good way to earn money or they think bitcoin is being used for some illegal activities like money laundering, scams and etc. Which it is not true bitcoin is just a scheme to make people rich in a good way not in bad way, so i hope in the near future the government will accept bitcoin as a legal currency.

[dcash]

"Aside from headline-grabbing fact that virtual currencies can and are used to engage in a wide range of illicit activity (it should be noted that cash is used for many of these same transactions), there is a legitimate theoretical argument in favor of their use."


There's much more to read: Here's the link
https://www.investopedia.com/articles/forex/042015/why-governments-are-afraid-bitcoin.asp

[Blueblade]

The country's monetary value will decrease. People will invest in bitcoin all. Investment companies like gold, crude oil will fall. Dollar will decrease the value. Bitcoin cash flow will increase. All transfers will take place through bitcoin

[PORN_coin]

because one of the main tasks of the state is not to protect the population as many can sweep
but control of the monetary assets of the population
and bitcoin can prevent it

[xsaints128]

Some government ban Bitcoin because it seems it as a threat to its own Fiat currency. Government think that Bitcoin is used for illegal activities, that's why they try to regulate or ban btc.

[cl37007]

I am guessing they ban it because they can't control which means they struggle to profit from it and they cant track it due to the level of anonymity it provides making it easier to hide shady deals. The irony on the second point it is will just be criminals who use it if they ban it

[nankers]

I do not know exactly what the reason the government of some other country doesnt legalize bitcoin. But I think it may be because a country's government is having trouble getting taxes from every bitcoin transaction. Because bitcoin is not a valuable item like gold or any real money because there is no physical form of the bitcoin. Perhaps because it is difficult for the government to decide whether or not legitimate bitcoin

[Tantalala]

Bitcoin is not bad because the system works differently. It's not pyramidal. It's all about your ability to analyze, understand and invest. Investing in bitcoin is risky if you follow fast and unprepared winnings. There are already banks that are trying to enter the bitcoin market, like those who have made utility settlement coin.

[Daektum]

Bitcoin is one of the currency in the internet. Cryptocurrency is a big thing now, it can be seen in most of the advertisements online. If you are a normal person who does not read about this advertisements, you will just ignore it like everybody else. But since you are on bitcoin, when you see a advertisement about bitcoin, you know what it is about and you care about it.

Some government bans bitcoin because they do not know what bitcoin is. They are treating bitcoin as a threat but in reality it is not. They should be knowledgeable about something before banning it. They might also be scared that cryptocurrency might overthrow the real currency and also overpowering them as politicians.