Why do some government ban bitcoin?

[shezu007]

Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly. Therefore, they know that Bitcoin and other decentralised cryptocurrencies allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks aren't happy about being made obsolete and with help from governments they are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.

Some governoments ban bitcoin because they are dependent on the banks, Banks support them when they make a big project for their people. Also that type of governments are borrowed by the Banks and in a result they get press by the Banks. Banks are against the bitcoin because in the future the user will prefer the bitcoin instead of the banks due to its very qualities. It may happen that bitcoin disappear the Banks.

[Lare linglung]

perhaps because the government is afraid that its people will be caught in the negative by bitcoin because of the news that bitcoin has the potential to fund crime.

[Eric01]

Some government banned bitcoin in their country because they want to lessen the accussation on scammers using bitcoins and they want to protect their community. Maybe also they want to hold it because btc has no ownership and can  lead to non taxable money thats why they want to have connection on it

[haster100]

Because the government has a complicated regulation of bitcoin. the first of the digital currencies that some political experts say would harm and affect their finances. The BTC has global scalers because it includes global currencies

[blacktajin]

Bitcoin is a decentralized crypto currency. That's why government of any country cannot control it. As a result, there is huge potential of money laundering. Besides, bitcoin is based on art of state technology like blockchain. A country needs latest technology to use and monitor bitcoin transactions .Some Government ban bitcoin due to above mentioned reasons.

[myhometalk]

It's about fear of losing control over the people and their finances. Financial freedom appears at the horizon and they start to panic.

[ovcijisir]

As far as I know no government has banned Bitcoin or other cryptocurrencies. Chinese government has banned ICOs to protect its citizens from losses and scams.

[Joylee]

The fear factor that the use of bitcoin will beat fiat money so that fiat money is worthless. I'm sure in addition to fear it is a factor of self-esteem because of the legal currency abandoned citizens.

[jumail]

It's about fear of losing control over the people and their finances. Financial freedom appears at the horizon and they start to panic.

That's right, the government can not control bitcoin, so some governments are very protective about this. That's one of the precautions the government can take to protect the people and the stability of the country's economy. Cryptocurrency has the opportunity to serve as a crime tool, such as terrorist financing, drug trafficking and illegal weapons, etc.

[Washball]

Some countries have announced to ban cryptocurrency and some other countries want to regulate it. It's not that Bitcoin and other cryptocurrencies are a threat to fiat money, but governments want to control and centralize financial systems. Bitcoin also has a bad name, because It's used for criminal activities like laundering.

[KurtR90]

It is not that it is bad, it is simply a virtual currency with no control whatsoever on the part of banks or government entities, it is not convenient for them to freely circulate a form of tax-free payment, because taxes are the main proportion for many investments, that's why they prohibit it

[Squirtle08]

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?

Hmmm, I don't think being bad is why bitcoin is being banned in other countries but rather due to its decentralized feature. Who runs a country? Yes, the government. And where do they get their funds? Right, from our taxes. People are gaining good profits from bitcoin and they can keep it all to themselves. In a normal situation where we earn something, the government is entitled to a percentage of what we have earned. So you see, they are banning it mostly because they cannot regulate it. Btc being used in illegal activities are just additional reason.

Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.  

I'm not sure about spyware, though.

[GamingBro]

People are scared of things they can't understand or maybe they just want to recive more fees and taxes. When you don't have any influence on bitcoin it is the only way to ban.

[bittechpro]

Because bitcoin damages their interests, it is forbidden.
Bitcoin transactions are not taxed to the state.
Bitcoin is anonymous and the state cannot control it.

It's right. I agree with your thinking.

[Ponzi Shame]

Actually Bitcoin is decentralized currency and the government has no control over it so they try to stop their people from investing in bitcoins but it is not a good idea from government side,time will prove it that bitcoin will become an international source for online transaction or doing digital trading.also lacking of education is another factor through which government are banning the use of BTC in their country.

[daduremi]

But not all countries prohibit the existence of bitcoin, for example japan
Japan has authorized bitcoin as a legitimate payment instrument in its country
In my opinion, the rejection of bitcoin is based on unclear reasons
They only hear it from the media, without learning it directly

[TeraBitHoven]

Some government bans bitcoin because they can't lay their hands on it, they can't control it, it is decentralize. They can't abide laws to it, or maybe they fear that it affects currency exchange because investors will turn to bitcoin.

[Dzung]

my opinion is the senior officials is embark them self on bitcoin so they don't banned it haha 

[ljm8888]

Because bitcoin has begun to affect the world economy. And the control of the world economy is in the hands of the world government. If bitcoin wants this right, then this is a challenge! But I think it's like special money. The future of digital money is bright.

[Dylan365]

Bitcoin has an anonymous transaction, so that is difficult to trace and susceptible to abuse by criminals, especially in money laundering and financing of terrorism.Moreover, the government can not take any benefit from transaction of bitcoin.the government can not meet the financial system if the country.For this, the government of some countries banned Bitcoin in their country.