Why do some government ban bitcoin?

[dongyi17]

They banned bitcoin probably because they realize the power, the advantage, the benefit and value of it now a days than just common bank, it became a threat that somehow when people learn to use it, or discover it, they will be left out and not only that they will cease as well, because people find it more convenient to invest in digital currency than it is to bank, they cannot control it as they are to bank that is the reason why they banned it.

[theishv]

Because bitcoins provide a big threat for banks, which provide a big portion of the tax income. Futhermore cryptocurrency are hard to regulate, which makes the government scared about losing control.

[Emitdama]

Bitcoin is illegal in some countries because,they afraid bitcoin will banks disappear.

This is a reason as well yes but they are fools I think. These governments know about bitcoins, how much they are profitable for them right now and even in future it is about a war which country have more miners that will be controlling the whole economy of the world. So these facts and many others, these are always tempting governments to declare this illegal, unfortunately.

[dreamer81]

Because they are scared.  the last 1000 years (and more) governments have manipulated the people. With bitcoin the governments are loosing power to the people. This is the digital revolution, and nothing can stop us

[mejalipat]

some governments ban bitcoin because they think bitcoin may be dangerous and can make people lose money so it would be harmful but I think the bitcoiner already know the risks that will happen and they should also be ready with any risk

[rontoberth]

For the simple reason that in the future they will not have to tie us up and close our eyes to be the leaders, because the singularity is coming.

[morrisby25]

Bitcoin is not bad. Just like money, they say it is the root of all evil but it's not. Bitcoin can be a tool for crime bit it can also become a tool for better things too. It is up to users of bitcoin on where are they gonna use it. On the other hand, I do believe that government is against bitcoin because they cannot control it.

“they say it is the root of all evil but it's not” but by that logic even fiat is the root of all evil as all these years criminals were doing crime to earn more and more fiat

[obinine]

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 banned by some governments because they don't have control over it. And may be they consider it as threat to banking systems. Governments afraid about bitcoins high value and its challenges to banking systems. The transactions taken place for cryptocurrency are anonymous so flow can't be trapped, thats affect income tax and this is main reason behind banning bitcoin.

Biggest reason to an BITCOIN and other cryptocurrency is the government fear of losing control over their citizens. Governments need to really step up their game if they want people’s trust

[gundala]

Every government must have a reason why it does not legalize bitcoin. Most of them prohibit the use of bitcoin as a means of payment, this is related to the sovereignty of the independence of currency in their country. Another reason is to maintain the economic stability of the country, and to prevent the use of bitcoin as a criminal tool because the government does not supervise and control it.

[Nivir]

Op mentioning Bitcoin as a possible spyware is impossible. Perhaps ZEC is as I highly doubt that coin. Anyway, I see most people defending Bitcoin (which I would do too) so I am thinking on how to intercept criminals using Bitcoin then?

[jkinit2125]

Many arguments have been accumulated through the years because of the topic banning of bitcoin to some government countries around the world. Why? The thing is bitcoin has good benefits and bad also. But countries who banned bitcoin such maybe do not knew the benefits or it or maybe has projected the benefit it could get to their people but not in the government itself. Why? Maybe because in a regulated country, their government lives because of what we called the life blood of government. The tax, every goods has been taxed by the government to unable to acquire funds for future purposes or projects for the benefit of the people they serve. But with bitcoin, people earned money and increases their purchasing power thus without charging them with tax. Somehow it is correlated in being in the underground economy. Government ain't controlled bitcoin because it is decentralized, so what they do is to restrict people from using bitcoin as a source of earning.

[ignacio0404]

Some government ban bitcoin, because they haven't seen the security of it. Some of the campaigns other people joined are scams so maybe they heard of it. Or they just don't want another internet work freeze.

[a-zi]

Banning is not the goal, taking control is goal

[tikong]

These are based on my opinion. Bitcoin is banned to some countries because the government believe that bitcoin is used to buy illigal things. Also they ban bitcoin because they cannot control it, they cannot put tax on it, another reason is because bitcoin is to unstable, its price suddenly goes up and down. These are my opinions why bitcoin are banned in some countries.

[bitcoinorcash]

Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect.

[dvillier]

I think you are wrong that some government ban bitcoin.? But according to my search there is only one country that Ban BTC in their country and that is CHINA. And it depend on the rules and regulation and future ideas of government that what are their plan so according to their plan they are taking steps. But banning BTC in country is not good step according to my knowledge because through this country can get money from other countries and this will make strong countries economically.

[ted.jasmine]

Central bank cannot control it, then it cannot be the legal payment.

[macchiato]

Maybe because it is decentralized and a lot of transactions, including illegal ones, are out of their control. Scams and illegal matters may harm their people specifically those who do not have enough knowledge. Banning it in their country will increase security and protection for its people.

[guxu219]

Because it has no tax and it's dangerouse because it has high possibility that will destroy the banks right now.

BITCOIN does have tax though? It’s harder to track but unless you only buy using cryptocurrency all day and don’t convert to fiat you WILL be taxed for using BITCOIN and that cant be changed.

[Bittoshi]

These are based on my opinion. Bitcoin is banned to some countries because the government believe that bitcoin is used to buy illigal things. Also they ban bitcoin because they cannot control it, they cannot put tax on it, another reason is because bitcoin is to unstable, its price suddenly goes up and down. These are my opinions why bitcoin are banned in some countries.

I agree to this. they want to control everything. And using Bitcoin for secret transactions is not acceptable for most governments. This is the main reason they ban it. Like South Korea now want to ban all cryptos.