Why do some government ban bitcoin?

[Rihab Farhat]

that countries are afraid that the people send their fiat money abroad for something ``not legit they think``

[datodota002]

because the goverment affraid bitcoin will affect their currency. because bitcoin is very powerfull currency that not affected by other currency like stock or fiat money. one thing that would affect the bitcoin is demand. in other reason bitcoin is also very anonymouse so the goverment affraid bitcoin user use it for bad thing

[Ginos]

 

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 because they worrying about the regulation
and tax  issues also black markets and money laundry

[helars2008]

I think it is because they wanted to protect the welfare of their people.
We cant deny the fact that there are really cryptocurrencies out there which was created in order to scam people of their hard earned money.
And i believe government must be able to stop this but not to a point that they will ban bitcoin though.

[Maureenjoy]

Government ban bitcoin because it is a digital currency. It is anonymous and no one knows where it all start. We all know that govenrment charge people with taxes whenever there is a new business just starting up. And with bitcoin since its digital they cant charge it with taxes since they don’t know who to change with.

[MetalGear]

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.  

There are some reasons why they banned bitcoin. The reason why they banned is being decentralized of bitcoin and we all know that no can control or manipulate it so that they banned it. Bitcoin is also a tax free so that if many people in one's country used bitcoin the government will not get funds. I hope all government will allow bitcoin as a real money.

[dreamer81]

govs bans bitcoins because they loose control. Throughout human history, the powerfull (govs) have always had control of the people by controlling money flows and inflation and taxes. With bitcoin they lost all this.

[aeternus]

I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.

Correct, not all countries are going to ban bitcoin and those that do not are going to get incredible economic benefits since the investments in those countries and the tourism is going to go up, at some point the citizens on the countries were bitcoin is banned are going to begin to demand that bitcoin is legalized and are going to impose their will on the government.

In this year, I did not see any the government ban Bitcoin or cryptocurrency market, though there are some rumors about the Korean government are considering the growth cryptocurrency in their country. If the Korean government will decide to ban all the cryptocurrency market in 2018, it is really bad for the growth of cryptocurrency, included Bitcoin.

The Korean government is not going to do such a thing,  in fact instead of banning it seems they just want to get their fair share of their taxes, I do not see this as a bad idea, while I do not like the idea of using centralized exchanges most of the time that is the only option you are going to get and that means paying your due taxes if applicable to you.

[MS.LAWLIET]

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 cousin is saying that bitcoin is a black money well i'm just laughing at it. Some of government are banning bitcoins because they can't control it, the transactions the payments and others that is happening to bitcoin. We don't pay tax as we earn money in bitcoin and the transactions in bitcoin is not visible to the government the users are anonymous. Bitcoin is simply out of their hand that's why they are banning it.

[elzagold]

sometimes because of gov stupidity, as we know stupidity is limitless

[tanginamoo]

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.  

Governments doesn't allow bitcoin because they are afraid that it would be used by terrorists to conquer them and rule their economy and finances. Bitcoin is not bad, the person who uses it is the problem about how he will use it.

[lightcraftone]

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.  

Bitcoin is not bad. What really bad is, because of the people who is using bitcoin to buy something illegal like drugs. That is why the bitcoin is ban in the other countries.

[micoholic]

Due to its anonymity, there are several individuals or group of people that intends to use Bitcoin for illegal purposes and activities. Almost every country has an Anti-Money Laundering act, this is to prevent and avoid fundings of terrorists, syndicates and the like. Its one of the loopholes that the government see with Bitcoin. And one of the main reason why the general public is still hesitant to accept this digital currency. No traces from where it came, no identification of the sender and receiver, and no details of the transaction.

[poplolnman]

Due to its anonymity, there are several individuals or group of people that intends to use Bitcoin for illegal purposes and activities. Almost every country has an Anti-Money Laundering act, this is to prevent and avoid fundings of terrorists, syndicates and the like. Its one of the loopholes that the government see with Bitcoin. And one of the main reason why the general public is still hesitant to accept this digital currency. No traces from where it came, no identification of the sender and receiver, and no details of the transaction.

Actually government has a good intention to protect their citizens from something that unknown ahead. They do regulates everything but of course they can't do much in Bitcoin with its decentralized system. Also some government know the potential of digital money so they are planning to create their own version.

[Duogembrot]

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.  

this is just my speculation because if bitcoin is prohibited by the government then the chances of the government being scared because they do not have bitcoin and fear they can no longer to corrupt money because bitcoin is very transparent and can be seen by everyone. this is just my speculation.

[Naughty Princess]

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.  

Bitcoin is not bad. What really bad is, because of the people who is using bitcoin to buy something illegal like drugs. That is why the bitcoin is ban in the other countries.

The use of bitcoin is being abuse by other people who become greedy to make more investment and profit. They use bitcoin in illegal purposes because it will be hard to track the people involve in dealing with. Government has no choice but to ban bitcoin on their country to avoid illegal activities.

[shata]

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.  

Governments doesn't allow bitcoin because they are afraid that it would be used by terrorists to conquer them and rule their economy and finances. Bitcoin is not bad, the person who uses it is the problem about how he will use it.

Well, Bitcoin has been banned by many countries because of having many illegal transactions such as Scamming many Bitcoin users, Buy and sellling illegal drugs, trading illegal products etc. Government has the trauma about this kind of currency because of its characteristic of being Volatile. It means, Bitcoin can increase and decrease its price time by time. It is also decentralized. Bitcoin is not handled by government and It is not controlled by any People. The price is depended on the demand and the rate of it by many investors and traders of it.

[Markzuckertion]

Probably those governments are afraid if their citizen don't use their national currency anymore. They think it will be bad for country's economy. In my opinion,  Government always want a full control of their citizen.

[dark08]

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.  

Governments doesn't allow bitcoin because they are afraid that it would be used by terrorists to conquer them and rule their economy and finances. Bitcoin is not bad, the person who uses it is the problem about how he will use it.

Well, Bitcoin has been banned by many countries because of having many illegal transactions such as Scamming many Bitcoin users, Buy and sellling illegal drugs, trading illegal products etc. Government has the trauma about this kind of currency because of its characteristic of being Volatile. It means, Bitcoin can increase and decrease its price time by time. It is also decentralized. Bitcoin is not handled by government and It is not controlled by any People. The price is depended on the demand and the rate of it by many investors and traders of it.

Yes this is one of the reason why some government in all the world are banned bitcoin because it use in illegal transaction we all know the good potential of bitcoin it untraceable because of decentralized and the other reason that I see why there hate bitcoin is most of the time people are supine or patronize bitcoin than there local currency this is not good for the government.

[Blondy12]

in my opinion, some countries banned bitcoin and make it illegal by the government is because it is a threath to central banks and the government cannot collect taxes from bitcoins since they cannot trace the transactions of the botcoin's holder.