Why do some government ban bitcoin?

[Mr.Anonymous]

Nepal and bangladesh governments are banned the bitcoin.bitcoin is decentralized,so they are afraid of anonymous transactions.bitcoin has low transaction fees.

What do you think about that fear or threat that governments and banks feel from digital currencies. I think they understand significance of Bitcoin but they also realize that this way they may lose their control over economy.

This is a fact. nobody owns Bitcoin, no one can control it, only the holder has full control over his digital asset due to which government will have a very little to no interference in people's property.

I used to think like you, but now, I stop use this concept for Bitcoin. I asked my self in the past: "How does Bitcoin running?" and of course, it can running by Bitcoin's miner. If the government can control the Bitcoin's miner (provide electric, hardware mining market, farm ...), can they control the Bitcoin system or not? Although they do not have all permission to change the nature of Bitcoin, but they can make this system stop anytime, in my opinion.

[Swopon]

Bitcoin is anonymous that means central bank can't control it's transaction.It's out of bank's control.But mostly i think government is afraid of digital currencies

[Andria123]

According to mY research why Bitcoin ban in ohers countries like China,it because a plenty of them they will used as a scam,so much better they will ban than us will victim of there scams transactions

[yusupjatigumilar]

I think the most relevant reason is that the government has not understood and feared if bitcoins enter their country, then the country's currency will experience a decline in the exchange rate and even no value so feared that there will be economic crisis that will make the country become destroyed and poor.

[heyouyou]

Because the price of bitcoin is not stable. The government thinks bitcoin will undermine the country's economy. Bitcoin can be used by criminals. Use and money laundering or buy guns and drugs. The government has no trace of criminals. Many governments do not like bitcoin.

[ennovy22]

Bitcoin is really popular when it comes to crimes. A lot of criminals use bitcoin for the same purpose. They doing miney launderung using bitcoin; buying illegal drugs and firearms in the darknet where you can find things that relatedly illegal. The illegality of bitcoin in some countries has reasons. The government banned bitcoin fod aone security purposes. They don't want their people to be involved in such crimes on the internet. In that way they can lessen crimes and make their country to be more safe and secured.

[Umbrella Holdings]

Because the only thing governments want is to direct our money. We should invest only in the markets that governments choose and control. Governmentsdon't want Bitcoin because Bitcoin market is out of the control of the governments.

[MWesterweele]

Bitcoin can replace or beat fiat to make the government worried, I'm sure when someone knows bitcoin then he will actively use bitcoin versus fiat so that one day can beat fiat. In addition, if legalized then the government can not control the bitcoin so that the country's economy can be unstable.

They banned it because they know bitcoin is uncontrollable also have no following laws and rules. So they ban it to there country, also they want to manipulate it because they want to have power to contolled the transaction that happen in bitcoin, or maybe there are one of them who promulagated evil, so they want to use bitcoin to cover their evil intention.

[DanZhuk]

Bitcoin users can scold the US government for their slowness in clarifying their position on digital currencies, but Sen. Tom Carper does not think that it's bad. The head of the committee for internal security today announced his research, which analyzed the status of digital currencies in 40 countries. What result? Most countries still have not decided on a clear position on this issue

[enterprevic1]

Some governments ban bitcoins because they're tryna protect the finances of the nation.

I think that happens majorly cos of the anonymity that bitcoin transactions happen

[Pixmartz]

Starting early next year the Indonesian government banned the use of bitcoin and crypto. But to anyone who has an investment in bitcoin must report themselves and will be taxed. It makes me laugh because of the mindset that I do not think makes sense

[Tim2412]

because bitcoin can change financinal and economical approach of goverment  and some times it is not comfortable for some goverment

[nika_lina]

because when you can make money by yourself government cannot control you...

[Ahiaba]

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 ban Bitcoin pr fail to adopt Bitcoin and blockchian technology because they don't even know what blockchian technology entails and they see is negative perception. They all believe that it encourages money laundry, and that is not within there control and as such it should be rejected.

[Lorin]

Beside of the good features of Bitcoin some country banned bitcoin.the reason is maybe they used Bitcoin for money laundering and also for having potential in financing terrorists.

You don't have to worry and thankful  if Bitcoin is legal in your country

[The Alchemlst]

The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it. For them, bitcoin has bad effects.

True , since it is not taxable and pose a great value more than regular currencies and considering that they couldn't regulate it it would just be normal for some government to ban it.  Bitcoin has gaining so much power in the market that it has become an opportunity and a threat at the same time.

[vergel24official]

Bitcoin is gaining a popularity but some country ban it, I think because of their tax authorities are grappling with how to regulate it, and some seeing it a source of tax evation and pyramiding scam.

[anjaydut]

probably because the government is afraid of the people switching from paper money to bitcoin, but that's not possible.
maybe because bitcoin interferes with banking or something, I do not think so either. but in some countries apply a rule that me legal bitcoin

[ken0203]

The government can not control bitcoins and wants to ban it so that people are not free and can not dispose of their finances peacefully. I think in the future, crypto currencies will be tied to banks to control them. Of course any country will concider bitcoin as a threat since it's not under their central banks control and they cant track transactions.

[shezu007]

as we all know that bitcoin is decentralized and no one can control bitcoin. Some governments are banned bitcoin and the reason is that they want to get our money in their control while bitcoin is not under government government control due to which some government are trying to banned bitcoin.