Why do some government ban bitcoin?

[bribed]

Well, Bitcoin or cryptocurrencies in general represent money, and governments hate when they loose control over anything, especially when they loose control over money. So some governments that are scared are choosing to try to ban crypto. Stupid decision if you ask me.

[Abhinav Anirudhan]

According to me, some countries ban Bitcoins just because they don't get proper income tax, goods and service tax and many other tax . Due to undue payment of income tax the government face financial crises to run and develop their country .

[alkiw21]

Because bitcoin is considered against the bank and also a decentralized bitcoin. Bitcoin is also not in taxes and the government is difficult to manage bitcoin. So the government has done a lot to eliminate bitcoin from a country but it is difficult. that's just my opinion.

[Shrihari]

Put your self in the shoes of a person responsible to "control" financial things in your country then the answer becomes more clearer.
Bad points ( financial )
- high volatility makes them good way to make money ( too much money which is unaccounted for )
- it cannot be in a controlled environment.

Social points
-Increase in monetary gap of society
- normally money is inter convertible with power ( some countries ) hence can cause disturbances.

of course bit coins has much good points but unless the negative points cannot be countered it seems dangerous and it is banned.
even we must see the countries banning it so reasons can be even more clearer.  

[nilbtc4555]

Bitcoin is ban in some country for its decentralization.some countries goverment don't manage bitcoin because of its price flactuation and some of them think that Bitcoin is only born for criminal work.In my opinion thats the main think why some goverment ban BTC in their country

[Dani33]

Maybe they think it is dangerous because is impossible to track and then search a preventive protection about it, but i not think is a good solution

[webdevmastery]

We all know that bitcoins is a digital currency and it is also known for a very fast transactions but bitcoins is untraceable and terrorist can use bitcoins to have an illegal transactions like buying guns online or drugs and government are avoiding this kind of problems.

[Ailmand]

Some countries prohibit its citizens to use it because bitcoin has been use before in illegal activities that was uncovered by the authorities and they are afraid that its citizens will have an idea of using it for the same purpose. Because of its anonymity, some people who do something unlawful prefer to use it instead of payment option that is traceable and that's why some media also emphasize more the negativity of using bitcoin and other crypto that's why others prefer not to be involved with it.

It depends on how your country views bitcoin. For countries that have already accepted and recognized the seemingly limitless potential of bitcoin, then those have actually included bitcoin as their means if not at present, in the near future, to include it in their local market and economy that would surely help in their country's rise. On the other hand, for some countries that have already gave bitcoin a bad name, then many of them have told via media or through their own means that bitcoin is something bad and that people should avoid using, more so investing with it. I think it's just fake news, lack of knowledge, or media or government-fed misconception.

[Isaacck]

Well bitcoin is not bad at all. Since it is not govern by a bank, it is hard to manage for a country to control it or they can't manipulate it well. There are also a possibility that it will be used for crime so they tend to ban it so that they can avoid such incidents.

[Pasaway2701]

Well bitcoin is not bad at all. Since it is not govern by a bank, it is hard to manage for a country to control it or they can't manipulate it well. There are also a possibility that it will be used for crime so they tend to ban it so that they can avoid such incidents.

Illegal use of bitcoin is one of the reason why bitcoin is being ban in some country. Because the user is unknown in every transaction, it is hard to detect the criminal. Government has no choice but just to stop bitcoin wherein that way they can also stop the crime.

[fishball]

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.  

Trust issues. The government is like that parent who tells its child to avoid talking to strangers. Aside from this, bitcoin's market can affect the economy  of the country in various ways. Some countries won't take that risk so they just banned it all together.

[gsm_sharif]

Some evil people do crime with bitcoin.Buy drugs,gun,alcohol or other bad products buy and make money londaring.

[BettingTips]

IMO the main reason why some government ban Bitcoin because they afraid that Bitcoin and other cryptocurrency will ruin their economy especially bank system cause Bitcoin is not easy to control but it's easy taken advatage to commit guilty. Beside it's easier to earn large amount of money by investing money in BTC than just deposit money in Bank system so when Bitcoin legalized I think people will withdraw all their money in bank account to invest in Bitcoin, it'll be a big trouble of Bank system in any country. Finally, they banned Bitcoin just because their technology is not developed enough to be able to control Bitcoin so the best way to control is ban.

[MJG24]

Since some countries tend to see Bitcoin as a threat to their local banks, they tend to ban this website, even though they were enumerated with the benefits.

[gandhe83]

Because transactions made with bitcoin are anonymous and this makes the government unable to control their exchanges or assets. In addition, some countries fear that the use of bitcoin for bad purposes will affect the economy and politics of their country.

[gbdnnxowv]

The key reason is that these countries do not want Bitcoin to want to affect the stability of their currencies. But are there any other good ways to solve this problem, so they have to ban all bitcoin. But I think it's totally useless to ban Bitcoin transactions, and the underground OTC is still very hot.

[popolite11]

Bitcoin is way of financial benefits not only for ordinary people but for states also. In some authoritarian countries like Iran, Russia or Venezuela cryptocurrencies were forced to get under government control for state interests.

[jam22]

Because the government can't manipulate the bitcoin's value.

[nodav]

t's not so much the anonymity of the transaction, as a threat to the financial system as a whole. Less control and regulation, and it is dangerous, including for national currency. I think the regulation of cryptocurrencies, which now want to enter some state, do not hurt, moreover, that the advantages of the blockchain they have already accepted

[weblaraveluser]

Bitcoin isa digital currency and the transactions are fast and very hard to trace, Bitcoins can be used for illegal transactions like buying of drugs or guns and governments are avoiding problems in their country that's why some of them ban bitcoins in their area.