Why do some government ban bitcoin?

[alexsamudra]

now many issues that use bitcoin is an elegant that is not fully supported by the authorities, because there are illegal events and fear that its citizens will have the idea to use them for the same purpose.
hence the government prohibits the use of bitcoin by its citizens, many now use it to break the law and use it instead of a traceable payment option and therefore some media talk about bitcoin and crypto negativity.

[BlackBeauty]

now many issues that use bitcoin is an elegant that is not fully supported by the authorities, because there are illegal events and fear that its citizens will have the idea to use them for the same purpose.
hence the government prohibits the use of bitcoin by its citizens, many now use it to break the law and use it instead of a traceable payment option and therefore some media talk about bitcoin and crypto negativity.

I think governmet have some fear from bitcoin, they thought about bitcoin is a illegal currency or some people use bitcoin for illegal work, but if every person use bitcoin for legal work so government will legalized bitcoin and its price will change everyone's life for their future because bitcoin is the best way to make everyone life comfortable.

[Yatsan]

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 am not sure about it. Some are saying that it is because Bitcoin is decentralized. Which means that governments don't have control tonit such as putting tax on every transactions also theybare said to be worried about the involvement of Bitcoin on illegal activities so maybe that is the main reason. But I am hoping thatbin the future, it will be legal world wide.

[centralbanksequalsbombs]

Governments and laws are controlled by the central banks. Bitcoin is an anti-establishment revolution that has already solidified itself worldwide.

Bitcoin cannot be controlled. It cannot be banned. It cannot be made illegal. And conversely it cannot be legalized. It just simply is. And people can always use it.

Those trying to undermine and manipulate bitcoin stem from the central bank system around the world;
-the central banks dictate policy to all the operating big banks around the world and have essentially tried their best to ban bitcoin related transactions for more than four years straight, ever since 2013, and have failed at stopping bitcoin's growth, adoption, and popularity
-the central banks fund efforts to undermine bitcoin, providing plenty of capital and liquidity to private companies and venture backed groups such as Digital Currency Group (they own Coinbase, GDAX, Kraken, Bitpay, and media outlet Coindesk) and also Roger Ver/Bitmain to undermine and break the bitcoin protocol and/or manipulate trade

Above are just small examples.

First, educate yourself and then others. Please checkout the link to the bitcointalk post in my signature titled: How to teach Bitcoin to a 7 year old.

Bitcoin is a secure, decentralized, trustless and open system which cannot be banned nor controlled.
 
Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?:
If it can be shutdown, and have assets frozen by a bank or government, there would be no value
If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it required a central 3rd party to function, there would be no value
If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin").
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
If it was exactly like fiat and only did transactions, there would be no value.

Bitcoin's value is worth hundreds of billions USD today. Altcoins however are scams, weak, pyramid schemes not offering these values.

Bitcoin has all the characteristics needed combined to hold the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system. (more than stocks, more than houses, more than gold)

Extra graphics to indicate the worldwide impact on the emergence of bitcoin in its infancy today:

Chart of performance of assets from Xmas 2014 to Dec 1. 2017 (in USD terms):
Bitcoin/USD
S&P 500 Stocks
Real Estate (REITs)
Gold
Bonds




Here are weekly peer-to-peer localbitcoins cash trade data for two random countries as time goes on. Right-most area is the most recent past week.

[s0beit]

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. 

It is because they are afraid that people would quit their job and since bitcoin is decentralized, they cannot get any income tax from bitcoin income. Some people already quitted their job and started to focus on bitcoin.

[icoprofits]

Government ban Bitcoin only because it is their fear on bitcoin and  other crypto currencies

[magz]

Maybe because they feel threaten. They do not want something that they cannot control specially money. And the features of Bitcoin limits their power. With that they cannot regulate. But I think it is possible also that they have hidden agenda. They will just tell the public that they ban Bitcoin but the truth is they just want to buy on a lower price.

[Osgliliath]

Yes, every government has the power to ban bitcoin in their country. But The only way to ban bitcoin is to ban the Internet in the entire country (north Korea style). There are already countries who banned bitcoin other than china, so this is just a normal event on the cryptocurrency world. If you guys are afraid that bitcoin will die because China banned it, don't be bother by this. Bitcoin could exist without this Chinese Government, there is some countries already who trusted bitcoin and make it one of their currency, and one of them is Japan, so rest assured, bitcoin will still live and will keeping booming as always and will sooner lead to revolutionary period throughout the world industry.

[Quendi]

 I think is they can prohibit mining or regulate it so hard that everybody stops mining all together. China did this and banned mining and trading bitcoins recently that's why it is possible that bitcoins can be banned. If the government however does intervene, they will most likely stop mining operations and the bitcoins harvest will not join the circulation, reducing the supply further making it more expensive thus preventing investors to buy more because it's expensive.

[Palantiri]

 Try to destabilize the value of Bitcoin. So perhaps buying a bunch of Bitcoin over time, and then selling them all at once, causing market crashes. Or buying and hoarding Bitcoins. Free from all the laws designed to prevent market instability in the real world, a powerful, rich, hostile government could probably do quite a bit of damage to the Bitcoin *economy*, even if they can't actually touch the technical foundation of the cryptocurrency itself.

[zdrmay]

Elementary. They are simply afraid. The government fear that their national currency could die of competition , they fear that they would not have a peek in our accounts and would not be able to charge service taxes accordingly. Bitcoin - decentralized, does not obey anyone, no one manages this system. Therefore, the government is displeased, furious.

[fistteam]

Some governments prohibit bitcoin because bitcoins affect the interests of the bank and the interests of the government. The government can not control the number of bitcoin users and can not tax it.

[ilovefeetsmell]

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 doesn't know about bitcoin. They think bitcoin is a threat and scam. They don't want to be with that thing, bitcoin is one of the major use in cryptocurrency. It will threat the local currency of every country.

[Akash1243]

Well some government has banned bitcoins as they think bitcoins are threat to society as government can't control bitcoins because bitcoins are decentralized and bitcoins can be used for many illegal activities.And also taxing bitcoin transactions are hard for them and banking would be affected.Bitcoins prices are way too unstable too so government discourage us to invest in them.

[Trela]

Well some government has banned bitcoins as they think bitcoins are threat to society as government can't control bitcoins because bitcoins are decentralized and bitcoins can be used for many illegal activities.And also taxing bitcoin transactions are hard for them and banking would be affected.Bitcoins prices are way too unstable too so government discourage us to invest in them.

At current, I just know the Chinese and Korean government banned ICO in these countries. About Bitcoin, I did not hear any news as ban Bitcoin in this year, can you give me the list countries banned Bitcoin? I will be happy if know it, thanks!

[mabell943]

The government make decision fair and free from any bias. I think the reason why they banned bitcoin or the cryptocurrency in their countries is there are lots of country consider cash-based system in all commercial transaction which is not applicable to the concept of bitcoin.

[nikenv2212]

I think it's natural that if a government rejects bitcoin firmly in the country, many aspects are a consideration especially for countries with high bitcoin corruption rates can be used as a place to store assets that are difficult to detect, in addition there is no legal basis that can protect customers

[paradeflag]

Bitcoin is already a system in itself and it is decentralized. The government, as much as possible, would want to be in control. In this case, they couldn’t. That is why they decided to ban it.

[beezare]

some governments in some countries may want to protect their citizens from the harm that bitcoin will cause because the price in bitcoin is unpredictable and there is no law that can protect a person from the harm caused by bitcoin

[Gotumoot]

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.  

It's because some countries think that bitcoin is a scam, an unsecured investment, or they are afraid that people might quit their jobs and focus on bitcoin instead. When people quit their job and earn money through bitcoin, their income is not taxable. Which means government will get lesser income tax.