Why do some government ban bitcoin?

[mx667]

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.

First of all, we all know that our flat and cash money always keeps in the bank. And we all know that all transactions are limited and only adults can use. While cryptocurrency is not limited by anything, both in terms of transactions and the amount of money sent. Everyone can use cryptocurrency without age limit. And we're storing cryptocurrency in online wallets that have nothing to do with banks and governments. We can be the bank itself by using cryptocurrency and wallet online, therefore the government and the bank can not take profit from us. Maybe that's why they tire Bitcoin. In fact, the government can take advantage of Bitcoin if you know how.

[changcloy]

some government ban bitcoin it's because there were people using bitcoin in illegal transaction as bitcoin can be process with out knowing the real identity of the person so it was so advantage to those kind of people who like dealing drugs or any illegal matters which the government afraid of.

[ungongbuotan]

The main reason they are afraid of bitcoin is because they cant control bitcoin. Bitcoin is decentralized and there is no way they can manipulate it. Government also cant tax bitcoin and that is bad for them.

[Zanuar Erik]

They are always afraid of things that they cannot control, once they think of how to control crypto, they will be very calm 

yes, it is such a thing that creates fear. what if they want to learn and understand about bitcoin, really amazing, a lot of benefits bitcoin.

[kalph22]

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 government of other countries bans Bitcoin because of they can't trace any transaction of their people that they may think doing some illegal, and they can't do something to stop it. So.. maybe because of that they have the idea to Bans Bitcoin in their country, Because they can't control transactions of Bitcoin. And there are Banks in their country that may be lose in Bitcoin and they feel that their profit will go low if Bitcoin will be legal in their country. But, this countries that bans Bitcoin are, I think is just really thinking for the safety and security of their country.

[Blue Bell]

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.  

Bank's are scared that people will prefer btc than cash in the long run. To protect their interests Banks approach the government to sideline btc and other cryptocurrencies. Bitcoin is not bad, it's a very prospective investment which was created to help people earn.

I think there are still some countries which are thinking that may be bitcoin is fraud or maybe they want to use their people for their own work in order to collect tax from them because tax is playing a very good role in any economy of the country and I’m sure that bitcoin is not that kind of currency which make a problem for any country because bitcoin is the only hope and currency for every country and I think its proof already.

[btcCoincart]

Ban it when government can't control it. That's the truth!

[readygoaw]

Some government restrictions are bitcoin because it controls outside the central bank. Bitcoin Banking sector threat The government claims Bitcoin as a money launderer. The government does not get any revenue from Bitcoin. As a result, the work of the government is hampered. The government is not growing. But the government benefited from bitcoin if it brought it under the bank. In today's age, there was an employment opportunity of bitcoin

I think they are afraid of losing control over the movement of finance. But Bitcoin will win this battle anyway, progress can not be stopped.

[vicemi]

They want to control the people, that's why they ban things that they can't impose taxes on, for example.

[yoseph]

Most of the time, they ban it because of criminals using it for their illegal activities especially money laundering and tax evasion which is one of the reasons why the South Korean government want's to ban bitcoins and some other cryptocurrencies.

[monkeydominicorobin]

Governments are jealous of Bitcoin for all the wrong reasons but Cyprus and Venezuela are thankful of Bitcoin for all the right reasons. So it is unfair to make a sweeping statement about Bitcoin. Let's face it nobody can ban Bitcoin because nobody owns it.

[iamryan]

Some government ban Bitcoin because other decentralized cryptocurrencies provide people with chance to trade directly with each other, without the need for a middleman or intermediary which is a bank. Therefore affecting the government somehow.

[Paula L. Jessen]

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.  

Virtual currencies tend to form a property bubble and tend to be used as a means of laundering and raising funds for terrorist activities, so it is likely to affect the stability of financial system as well as harm to the public ".

[freakingcat]

They're afraid to lose their grip over people.

[fengzhenwu666]

Some countries have encouraged the development of bitcoin transactions, and some countries have banned bitcoin, saying it is a hoax. I don't understand how these countries have decided, but I think it is a wrong decision.

[blockchain09]

I think the high possibility is that they are afraid of being unable to control the economy of that country and the bank will gradually disappear. But I still do not understand why the government banned the exploitation of bitcoin. While it helps improve people's economics better. The US and Japan legalized bitcoin and I think that's a wise decision. The governments of the two countries always want their country to develop in many ways, so they will let the electronic money market circulate in their own country.

[laravuemaster]

Some countries have encouraged the development of bitcoin transactions, and some countries have banned bitcoin, saying it is a hoax. I don't understand how these countries have decided, but I think it is a wrong decision.

Their decision is absolutely wrong, Some of the countries government are corrupted and they are blocking bitcoins circulation in the country to avoid people for becoming wealthy because their business might go down if people will invest more on cryptocurrency rather than working on the corporate world.

[ahiaba.john@yahoo.com]

Many reasons could have lead to bitcoin ban by government in some country in additional to all the contribution made here but the primary reason why government did not support bitcoin is because government has no regulatory power over bitcoin and bitcoin related activities. The decentralized nature of bitcoin has taking the whole power government and mad government irrelevant in all its transaction.

[IvyAguas]

Because they cannot control Bitcoin, specially interms of taxation.

[duchung]

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 was be band by some country because they can't manage it and then they ban. Bitcoin not bad but the way we used it can be bad. This time Korea denies the ban. and the price of BTC increase