why some country banned bitcoin?

[Coldsnap4457]

No government can ban Bitcoin.

Those that want to, ban the exchanges. They try to stop the fiat money from getting converted into Bitcoin. They try to block the on and off ramps of the Bitcoin highway.

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[YuurinBee]

No government can ban Bitcoin.

Those that want to, ban the exchanges. They try to stop the fiat money from getting converted into Bitcoin. They try to block the on and off ramps of the Bitcoin highway.

exactly... and those that try to ban or say bad things... just jealous they aren't reaping the profits

[TastyChillySauce00]

No government can ban Bitcoin.

Those that want to, ban the exchanges. They try to stop the fiat money from getting converted into Bitcoin. They try to block the on and off ramps of the Bitcoin highway.

But they can, just simply release a regulation that could bring their citizens who uses bitcoin illegally (when bitcoin stated illegal in such countries) with heavy punishment or atleast to what they deserve.
And by that, they could decrease the usage of bitcoin in their country to its lowest potential and if they still continue hunting down any of bitcoin users, bitcoin will be doomed in that country.

[danjonbit]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

well, since bitcoin is decentralized and not governed by any country, many of them will oppose, why should a country do something that could make their money less valuable? thats one of their thinking, and just my opinion

[Avity]

Cryptocurrency's decentralized nature make it uncontrollable by governments and big companies... unless they started buying all of it.  As we know, governments and big companies like to be in control and continue making profit to stay in power.  Cryptocurrencies give power back to the people.  Governments and big banks see crypto as a threat, this is why they want to make it illegal.  They might claim it is because of money laundering for criminal activity, however if that was the sole case they would have to also make every other form of currency illegal.  

[Yamifoud]

No government can ban Bitcoin.

Those that want to, ban the exchanges. They try to stop the fiat money from getting converted into Bitcoin. They try to block the on and off ramps of the Bitcoin highway.

Knowing that bitcoin could never be controlled by anyone. That is why some countries are banning crypto currencies in their countries, Because bitcoin is totally a big money, of having controlling this it could make them rich as what influential person planning for this. But because they can't benefit on this, then they just banned for coming inside.

[yanskie18]

Because they see that bitcoin is a cryptocurrency that can't be monitored by goverments and they are scare that people can make illegal transactions, some countries trying to tax cryptocurrency, but there was a lot of other currencies that you can exchange with and dont pay tax.

[saiteja01]

Bitcoin transactions are encrypted and while they can be tracked by involved parties, bitcoin provides a way to keep money and transactions away from the prying eye of the regulators.

"There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls", "And there may be loss to the central banks because if everyone uses Bitcoin then no one will pay tax to the government".So some countries banned Bitcoin.

[0t3p0t]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Every country has it's own law and reasons of blocking such activities online so I think they have a strict or conservative government for digital assets like cryptocurrency most especially Bitcoin. We all know that Bitcoins has advantages in our lives but it also has flaws. Some reasons may includes, high commited crime involving money like tax evasion, fraud, scam, corruption, drugs, terrorist and any illegal activities. But the strange thing I had observed is that, I am living in a country that has all those active criminalities I've listed above but still managed to allow us to interact with cryptocurrency and they don't even have any regulations on ICO's which are prone to scams. What I mean is that we are free to buy and sell crypto's and join in ICO's without any restrictions. Though local exchanges are regulated by the central banks yet we don't have problems regarding banning of crypto's for now just taxes but is not really a big deal so much better to take an advantage on this before it is too late.

[DoublerHunter]

They banned bitcoin because they are afraid of the anonymous transactions of it because it might cause them trouble because the criminals are the one who have the advantage for this feature of bitcoin and it can provoke a terrorism since they can get funds for that activity by bitcoin and because of the anonymity, a lot of illegal activities might be created.

[kotajikikox]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

the country want to banned bitcoin I think the main reason of that issue are to control bitcoin to make regulation laws how to handle bitcoin in own power, or the government officials of some country want to collect taxes for bitcoin as currency but how can regulate this digital currency that's the problem of the country want to banned.

[smailler]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Maybe they have no way of imposing tariffs on bitcoins so They have banned bitcoins. or bitcoins are a threat to banks in their country.

[Altas]

Countries ban bitcoin for several reasons and decentralized system functioning seems to be the priority reason for the same. But the users from those countries continue to use bitcoin through some other form. This cannot be completely stopped, because one who has got into it won't leave that easily at any point.

[Sanugarid]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Actually they didn't banned bitcoin in any country they limiting the use of bitcoin and making some transactions involve bitcoin because we all know that bitcoin doesn't have any tax and it makes for the people to full get their earnings completely. Eventhough it happened to limit many people continue to use.

[decoder88]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

I think because these country that banned bitcoin didn't actually knew that bitcoin could them some good and positive incomes. And also I think they didn't aware of what may this bitcoin effect on the economy of world. And the last reason I see is that because government doesn't have the access to bitcoin because it is decentralized.

[VazLorde]

I think there may be several factors that make them ban bitcoin, maybe bitcoin can damage the economy in their country, or maybe they apply the principle to keep using their country's native currency whatever happens. I do not know for sure about the cause, they have their respective reasons to ban bitcoin in his country

[FomoATH]

I think there may be several factors that make them ban bitcoin, maybe bitcoin can damage the economy in their country, or maybe they apply the principle to keep using their country's native currency whatever happens. I do not know for sure about the cause, they have their respective reasons to ban bitcoin in his country

Each country has its own reasons for prohibiting bitcoin. But I think that soon officials will understand that bitcoin is a very promising coin that can not be forbidden

[Shenzou]

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

I think because these country that banned bitcoin didn't actually knew that bitcoin could them some good and positive incomes. And also I think they didn't aware of what may this bitcoin effect on the economy of world. And the last reason I see is that because government doesn't have the access to bitcoin because it is decentralized.

Some countries knows that bitcoin is a currency that is getting popular and they have no controll over it not so ever besieds they won't know the user or the person who is doing some transactions, and these things makes it the best target, the best cover for most of the criminal acts, and this is reflected in the black market where people buy and sell drugs, guns, stolne accounts and all sort of illeagal stuff, and all of these are made with bitcoin, and this makes some countries where there are a lot of these actions happening afraid that it may enhance it, which will bring chaos and havoc to thier countries.

[djsugar]

No country can completely ban Bitcoin. But many are against. The main reason is Bitcoin has no base as for now. It is highly speculative asset along with being decentralized. Many countries don't like these aspects. Moreover, Bitcoin started from darkweb which make people more skeptical about it. But what I think is when some major countries inherit Bitcoin in their system, then all those countries who are against bitcoin or have banned it, will rethink their decision. Right now Bitcoin isn't really mainstream. But when it will get globally popular, countries will definitely think about it and won't let it go in anyway.

[DewiKirana]

Because some countries that ban bitcoin assume that bitcoin can impose their country's money value, do not believe in bitcoin technology. That's just an example of a small reason.