Why do some government ban bitcoin?

[Krillin61]

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.  

Well we cannot blame them because some of people use bitcoins at evil deed because they know that it is anonymous. Some countries banned the bitcoin because they saw it as a threat. Government cannot manage bitcoin because it is decentralize that is why they didn't know of having a bitcoin in ones country plus it has no tax so they think it will be bad for their economy.

[turagsoy123456]

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.  

As we all know... Many government official who are involved in corruption. But not all... thier are also who are honest... For those grassroot currupt government officials... They want to ban bitcoin... because they are not binefeted this kind of investment for thier own personal interest..which is the bitcoin money digital
currency...

[Wong Goblog]

The main reason is because bitcoin threatens national security, as we know that bitcoin uses a decentralized system so that no one can control the bitcoin price so the government seeks safe roads with bitcoin banned.

[edgarcoinny]

The increased number of scammers and the fact that they cannot control its trading as well as buying, they simply do not have stake in it and it makes them bitter.

[SpearTackle]

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.  

They banned bitcoin because the banks cannot regulate the money, the government are afraid that maybe one day they will face bankruptcy. But I don't see any wrong about bitcoin, it is just prone from hackers.

[Winterizing]

The reason why the bitcoin is banned in some countries is because bitcoin isn't hold by banks and there's no tax can be put into it because it's decentralized. Some governments also thinks of bitcoin as a bad thing because they thought it is just only used for buying drugs and buying illegal things.

[acener]

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 that those government who ban bitcoin feel threatened about what bitcoin can do in their country, specifically the financial stuff and economy. This actually a common initial reaction to something that they haven't tried and fully understand yet. I mean even people who don't belong with the government officials will feel the same way when they'll first hear it.

[Tilim@Tilim]

If it's never cashed in for FIAT CASH, it can't be taxed. UNTIL it's in a bank account. Crypto is about decentralization and taking down the bank.

[cl37007]

Governments don't like what they cannot control simple as that. Very difficult to tax something you can't track to a specific person as Wallet addresses are anonymous

[simplicio]

I think the reason is clear.
They are not ready to accept Bitcoin.

[aeternus]

Because its a big threat to the banks which are getting a lot of taxes,they are centralized and crypto is decentralized.

Banks do not get taxes, that is what governments get, but they both have problems with bitcoin, banks are in trouble since bitcoin is able to get them out of the business of banking forever and governments have a big problem with bitcoin since that allows people to not use their fiat and allows them complete freedom of their control and that is something they do not like.

[ace4549]

I think the reason why do some government ban bitcoin is because of people and the system that they have.
Many people consider cash-based system and not technologically advanced through this they cannot afford to accept bitcoin in their country in order to protect the people and the business itself also.

[Noilee]

Some government ban bitcoin, because of they protect their own currency, that bitcoin will be becoming more popular than their currency, the other reason is their banks will ignore by their people on their country. So if they allowed bitcoin in their country they can't get tax from bitcoin. They could not control anymore if the bitcoin will indemand already, so they will do is to ban bitcoin. Not only for that reason the bitcoin is most stronger currency.

[Senja Kemuning]

Many governments are afraid that bitcoin is allowed or legalized will make the economic system and transactions to be chaotic, of course it is difficult to accept if bitcoin prices rise up to thousands of dollars per day and this will make commodity prices become irregular.

[Buttercup123]

It is not as bad as you think.  Bitcoin if exchage to fiat makes a bank within a place loose a lot of money for which they don't hold the bitcoin, so they usually don't hold the bitcoin but the exchanger before them. So, the bank clearly has no profit in return and usually loose some holdings or asset. The echanger like in our country, the 'coins.ph', holds the btc we converted so if the btc price increases, they earn a lot in return.

[Wingo]

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.  

The increasing popularity of a decentralized currency also poses a risk for the economy especially for the people who are free (without the presence of a regulation) to get into the scene of the crypto world especially if they don't have enough knowledge about it. The government's role is to protect the people, a reason why they regulate the presence or the exchange or usage of cryptocurrencies.

[puturo]

Since bitcoin is uncontrollable by government there are some group of people that are using it in illegal transactions. Maybe some uses it in illegal drugs or in terrorism. So maybe it some of the reasons why some government ban bitcoin to stop it.

[zebii memon]

government bane bitcoin because educated people donot do job and work in bitcoin

[Creating N Action]

I think the reason why Some government banned bitcoin is because they think that bitcoin is scam. For them, bitcoin can affect their economy to fall down and it is too risky but the truth is not. Bitcoin helps many people to earn an extra income wherein they can buy all their wants and needs as well as they pay their all expenses.

[genology]

As a government, they want to control everything by their rules and policies so that everything will be in order. This cryptocurrency is beyond their rules and it may affect the security of the people in their country.