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Gotottack
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October 31, 2017, 03:15:40 PM |
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It is pretty obvious.. The countries that ban Bitcoins want to protect the integrity of their currencies. They want to make sure that their central banks' interests are protected. They want to effectively be in control of their money's movement in and out their country of jurisdiction. These reasons are valid enough to ban the proliferation of Bitcoins.
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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tee-rex
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October 31, 2017, 03:23:09 PM |
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because they don't know how to demand taxes from this, and still fear for the economy of the country
They also fear that people would really put all their money to bitcoin not on the bank. As they cannot touch bitcoin they would probably banned this. Since it is a decentralized organization and government can't really touch them all they have to do is banned them. I'm afraid when it comes to our country as well. In case of paper money there are different types of tax which are implemented on money of the people like withholding tax, sale tax or other taxes but in case of bit coin it was a fear that the people will keep all their money in the shape of bit coin so their banks will stop working. I have to pay taxes in my country if i want to cash out my bitcoins it is not that bad for me because if you cash out a huge amount it does not seem like anything when you pay the taxes form it and it is not only the taxes. Because some of them used it in illegal activities and its easy of use for criminal purposes like transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment and many more. The common view on bitcoin right now is that it is not as anonymous as many had previously thought. At any rate, bitcoin transactions are readily available to anyone to see and analyze, and there are quite a few tools that have been developed which try to track transactions. There is no doubt that special agencies have designed highly specialized and effective instruments for doing just that. If you want real anonymity with network payments, you should use coins which don't have public ledger at all, for example, byteball. It allows truly anonymous and private transactions between two parties which don't get written anywhere. |
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zurc
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SOKOS.io
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October 31, 2017, 03:33:30 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?
well because they accused crytocurrencies as money laundering because they can not get tax in cryptocurrencies so they banned it |
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keeee
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October 31, 2017, 03:34:51 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?
Well I think may the these countries want to use their people to work for them in order to get tax from them I think they are worry about it that when they let free bitcoin in their countries so all the people will move toward bitcoin and they will start to get their money from bitcoin so I think that can be a reason which is a wrong decision by them. Yes because they are aftaid to lose their workers because of the fact that bitcoin can be access anywhere at any time. Government dont want it to happen, some of them always want to earn money so they wont allow anything that will stop them from earning. Also they are afraid that people will put all their money to bitcoin because they can easily get profit from it as long as the value increases even they are not doing anything. |
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cybersofts
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October 31, 2017, 03:51:55 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?
Well I think may the these countries want to use their people to work for them in order to get tax from them I think they are worry about it that when they let free bitcoin in their countries so all the people will move toward bitcoin and they will start to get their money from bitcoin so I think that can be a reason which is a wrong decision by them. Some countries don't really understand bitcoin because they only hear about bitcoin on media. Media blackmailed bitcoin so many times because of that a lot of countries out there think bitcoin is a currency for criminal activities, SCAM or Ponzi Scheme. For people to understand what is bitcoin, how bitcoin operates, or how to use it - it requires certain knowledge. and you know most people are very lazy when it comes down to learning new stuff and latest technology as well. |
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diskodasa
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October 31, 2017, 04:25:02 PM |
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Because they can't control and collect tax income from cryptocurrency. Besides, Crimes use Bitcoin to money laundering and business drug.
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elLiteZero
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October 31, 2017, 04:28:27 PM |
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i think because some country can't control tax.. and some crimes use bitcoin for bussiness.. thats why some country banned bitcoin
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quocsi
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October 31, 2017, 04:42:37 PM |
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Some countries prohibit bitcoin because bitcoin is not government-related. The government can not make a profit. And concerns about the threat to the economy and the development of their country.
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Crypto Life
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October 31, 2017, 05:08:46 PM |
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влaдeть пeчaтнoй мaшинкoй выгoднee, чeм eю нe влaдeть, вoт и вoзмyщaютcя
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sagaritabd
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October 31, 2017, 05:36:57 PM |
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is claiming from faucets also banned in countries where bitcoin is illegal? why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Why they ban it? Bitcoin is a decentralized stuff which means it cant be taxed and also if their citizens would able to know about bitcoin then tendency on hiding their assets on crypto form would possibly happen which they would really have a hard time on tracing up knowing bitcoin is an anonymous stuff too and also they do believe that it can really increase criminality on their place. |
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rajuahmed763 (OP)
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October 31, 2017, 05:44:52 PM |
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i think because some country can't control tax.. and some crimes use bitcoin for bussiness.. thats why some country banned bitcoin
Your answer right, tax is the cause of banning bitcoin. some crime also happen in this world. Some people use illegal way and trade with high profile. |
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pancawati77
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October 31, 2017, 05:49:36 PM |
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The government forbids the use of bitcoin because bitcoin can lead to money laundering crimes. Terrorist financing has also been one of the causes of bitcoin being rejected in some countries such as in Ukraine that allegedly separatist use of bitcoin in funding terrorist acts.
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AnthoRAX
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October 31, 2017, 05:56:40 PM |
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Lack of understandinf and fear of losing their local value. It is quite a bad thing for the economy if you cant record the money that leaves and enters the country you know
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raisulmushfeq
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October 31, 2017, 05:57:11 PM |
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There might be many reasons for a country to ban Bitcoin. For example:
1. They want to prevent illegal activities using bitcoin in their country. Because it is hard to track.
2. They want to prevent money laundering.
3. They can not put tax on the income of bitcoin.
4. They don't understand what bitcoin is and think it may damage their economy in some way. Or hurt their citizens.
or something similar to those..
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Rakabel619
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October 31, 2017, 09:14:52 PM |
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Hello. I think they banned bitcoin because they do not understand the phenomenon and it is extremely difficult or even impossible to manage for them
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prehisto
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Your Data Belongs To You
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October 31, 2017, 11:15:44 PM |
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They dont know what is it yet.
There are a lot of misconceptions like that its is used only for criminal uses.
They cant control it , the anonymity and lack of taxation when citizens profit from their investment.
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Tantlizbat
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November 01, 2017, 09:01:22 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?
There are some countries that ban ICO activities and not Bitcoin as you claimed. Country like China ban ICO and local exchange company because of their illegal activities contrary to the laws in China. In recent time many ICO are becoming scam project day after day and there is need for the government of country to check mate their activities in other to protect her population from being scam. The reason why some other country banned bitcoin because some user of bitcoin they use it in illegal activities, like buying drugs ang weapon, and some goverment they didnt like it because they cannot control or manipulate the bitcoin, and also because of all country have rules and laws, like paying taxes, bitcoin dont pay taxes. It is noteworthy that some countries banned ICO in their concerned areas due to some illegal activities like buying weapon and drugs but I think that the government should introduce a new system of controlling mechanism of all there illegal activities. Some countries like china have banned bitcoin may they have some different ideas about bitcoin. But as we know that china have banned bitcoin in 2013 but soon they gave permission to its people to use, trade and invest in bitcoin or even mine. I have no idea that any other country rather than china have banned bitcoin. All the countries in the world are using bitcoin and now the governments of many countries have legalized and regularized bitcoin in their countries. |
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tranquangvinh
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November 01, 2017, 09:20:39 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?
I think the bitcoin accepted by a country is a matter of serious consideration . Because bitcoin is a virtual currency, it is very difficult to control. And anyone can own a bitcoin, which will lead to bad activities. Therefore, the countries consider carefully before making a decision . My country banned bitcoin , That's bad news for bitcoin investors in my country |
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lenovo16
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November 01, 2017, 09:29:04 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?
Lately in September there's an issue come out about China who banned bitcoin in their country. We know that huge number of investors are came from China. That's why many speculation come out after that incident. Some like bitcoin will fall down because china banned it. But its never happened, unfortunately bitcoin become more stronger than before. That why its a big question why china banned bitcoin.? Maybe because bitcoins brings threat to their economy. |
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pragna
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November 01, 2017, 09:54:30 AM |
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Actually there are many reasons for countrys band bitcoin. In any country currency fixed by it central bank thinking about the surrounding of its country. If extra currency flow in economoy its effects in total economy and general public suffer for it. Bad people can easily do their work when they have extra large amount of money. Bitcoin is that money that people earn from another country and as a result government can not understand how much money is coming form abroad and government are free from tax also. In this way there are many reasons for banned bitcoin.
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