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Granxis
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October 20, 2017, 08:42:06 PM |
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why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
They might have seen the threat that bitcoin could bring in there economy but I don't see a lot of country banning bitcoin. ICO will more likely be banned than bitcoin. Bitcoin is unregulated and maybe the governmnet cant find a way on how to regulate this crypto. Each country has a different economic policy. I want Bitcoin to be adopted by a payment method, but nothing happens with enforcement. |
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Yakamoto
Legendary
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Activity: 1218
Merit: 1007
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October 20, 2017, 08:43:30 PM |
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why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Some countries are banning (or at least heavily regulating) it because they have a need to control their currency as a means of controlling their people, others might not be able to deal with an influx of currency and need to keep their currency at an exporter or importer level of exchange. Other countries want to go after it to get tax money from it and properly make whatever they believe they're owed. There's a variety of reasons that people would want to ban Bitcoin, there is no one blanket answer and most are situational. |
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Matimtim
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October 20, 2017, 08:56:27 PM |
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The only thing that the government can do is to banned the bitcoin because bitcoin cannot control by the goverment.
I think the main reason why some country in this would banned the use of bitcoin is because they don't know how impose tax from bitcoin to have income in the part of goverment.
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Aleister Crowley
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October 20, 2017, 09:11:20 PM |
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when the state finds that their financial system is threatened by bitcoin,, it is certain that the country starts thinking about banning bitcoin.,, because when bitcoin becomes one of the mass payment systems in the country the state bank will be marginalized and lose competitiveness by bitcoin,., jam it some ico who do fraud so investors in the country suffered losses,.. both points that make bitcoin banned..
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Franky00
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October 20, 2017, 09:18:08 PM |
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when the state finds that their financial system is threatened by bitcoin,, it is certain that the country starts thinking about banning bitcoin.,, because when bitcoin becomes one of the mass payment systems in the country the state bank will be marginalized and lose competitiveness by bitcoin,., jam it some ico who do fraud so investors in the country suffered losses,.. both points that make bitcoin banned..
I think that countries that do not want to look to the future are banned from bitcoins. The government whose conservative views on the economic system will never take bitcoin |
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FasTroy
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October 20, 2017, 09:21:24 PM |
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The only thing that the government can do is to banned the bitcoin because bitcoin cannot control by the goverment.
I think the main reason why some country in this would banned the use of bitcoin is because they don't know how impose tax from bitcoin to have income in the part of goverment.
I agree with you, This is the main reason for some countries to ban bitcoin. They didn't like people to control their money and stop using banking. Nowdays, bitcoin community start to be more larger and larger, and members here increase every single day, so bitcoin price increase automatically, so i think this is another reason for the goverement to ban bitcoin. |
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danggoron
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October 20, 2017, 09:22:42 PM |
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In many countries the presence of digital currencies such as Bitcoin still invites pro or contra debate.
Part of the cons, consider bitcoin is a threat to conventional money and closely related to monetary. In addition, they also consider that bitcoin is prone to crime, such as money laundering and drug trafficking.
For some who pro think Bitcoin is the same as the common currency because it has value and the same function, can even be used as an extraordinary investment.
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Lonsdayl
Member
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Activity: 364
Merit: 12
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October 20, 2017, 09:41:53 PM |
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And government, maybe, want to save some people from high-risk investment. Somebody understand this, but a lot of people see just great digits and without any doubt buy crypto.
P.S: Bitcoin can't replace banking, how the chain will will cope with such an amount of operations?
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Hamstead
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October 20, 2017, 10:01:51 PM |
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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 banning bitcoin doesn't mean that they hated bitcoin or any digital currency. Instead they have making rules and regulations in which when they accepted bitcoin again, they can controlled it and gain some profits. Bcause of being decentralized and tax free, the government can't generate extra income from bitcoin holders and that is their problem. Of course they needed some fees to be fair enough with other investors. And I don't think that this is a bad idea because we can also benefited those taxes we paid to the government. |
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stolendata
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October 20, 2017, 10:43:00 PM |
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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 banning bitcoin doesn't mean that they hated bitcoin or any digital currency. Instead they have making rules and regulations in which when they accepted bitcoin again, they can controlled it and gain some profits. Bcause of being decentralized and tax free, the government can't generate extra income from bitcoin holders and that is their problem. Of course they needed some fees to be fair enough with other investors. And I don't think that this is a bad idea because we can also benefited those taxes we paid to the government. I think still not a single country has officially banned bitcoin. In fact most of the people still do not take any official decision on bitcoin, but bitcoin is still under their observation and hopefully very soon they are going to turn bitcoin as legal currency, because bitcoin is now becoming an important part of our life. |
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Quietman
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October 20, 2017, 11:18:41 PM |
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In what particular country are you referring to?
I never heard a country that bans bitcoin, ICO maybe ban and planned to be banned in some countries like China, South Korea and Russia.
I would agree if you said that it was regulated for some tax concerns and other more.
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hildacitra
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Activity: 378
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October 21, 2017, 12:30:33 AM |
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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. on the other hands, some countries might think that bitcoin users will be free of tax while they earn much money from bitcoin. it makes them worry to the economy of their country.
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Semaj123
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Activity: 434
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October 21, 2017, 12:46:08 AM |
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Bitcoin is banned in other countries because the government can not control it.And their also afraid because money laundering,means that they convert their billions of cash to bitcoins and we know that its transaction can not be traced.So easy for them thats why government is really afraid on it.
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vandvl
Member
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Activity: 154
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October 21, 2017, 12:48:01 AM |
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some country ban bitcoin because i think the reason is this is no taxable..teach people work in our home if every body work for bitcoin? what happen to other brand company? who work for them? if people work for bitcoin how country it work without income we're country get there income because bitcoin is no tax...like china they ban bitcoin because more people work for bitcoin so worker of there company is insufficient....so ithink thats the raeson why some country ban bitcoin...
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7xminer
Newbie
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Activity: 30
Merit: 0
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October 21, 2017, 12:49:52 AM |
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why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Could you please tell at least one? I haven't read anything yet like a real ban. What countries are banning are ICOs, because ICOs do not have a clear point on the investment and the Government cannot protect people agains scams. |
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Phantomberry
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October 21, 2017, 12:50:06 AM |
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Because they think bitcoin is dangerous that there economy were down because of bitcoin another reason is the taxes implement they don't know how to taxes each transaction of bitcoin and lastly the government cannot handle bitcoin.
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Yanisumin
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October 21, 2017, 02:04:11 AM |
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why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Personal reasons. Political issues. Wealth threat. Banks. These are factors to consider why some countries banned crypto (BTC). The thing here is they cant touch the technology (because it is too advance for them) and they can't put the people in jail so they are making rules and making a fuss about the blockchain technology. Poisoning the minds of people. |
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Nameless27
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October 21, 2017, 02:10:12 AM
Last edit: October 21, 2017, 02:21:49 AM by Nameless27 |
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The government officials of that country are greedy and corrupted by the financial institutions that monopolies the entire country’s banking system. There’s no way they’re doing it for just because they just want to or by those negative news and FUDs from other banking officials.
Money and income is more important thing to that government than the chance for they’re citizens to profit and earned. This is the hard truth of how evil each public servant we have that make this world the worst place to live.
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Allan Ramanda
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October 21, 2017, 02:13:56 AM |
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bitcoin is freedom, and the digital currency is very much sold traded by many people. so every country wants to control bitcoin completely. because bitcoin is a big project that can control the world-wide currency, and the economy of everyone
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giantrobot
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October 21, 2017, 02:27:03 AM |
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bitcoin is freedom, and the digital currency is very much sold traded by many people. so every country wants to control bitcoin completely. because bitcoin is a big project that can control the world-wide currency, and the economy of everyone
Yes, they always want to control it. However, controlling bitcoin is not an easy task. So, instead of controlling it, they forbid people to use bitcoin. |
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