meliodas
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November 02, 2017, 08:41:44 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?
Maybe because cryptocurrency earning is not taxed and they can't do something about it, they want to get tax from their people and they don't want them to earn money through cryptocurrency. However, it's their loss because they don't see the potential and convenience of having cryptocurrency. |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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star19
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November 02, 2017, 08:44:39 AM |
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Some county bannned bitcoin because There are have a won ruls of his country. They thing that if bitcoin login our country it will be more harmful for our country so those country banned bitcoin, Actually they don't know what result of bitcoin and they're don't know about bitcoin so they don't understan and banned bitcoin.
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nz_sana
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November 02, 2017, 08:45:49 AM |
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Bitcoin has not been validated in many countries of the world. They have the proper backing. Because they think that transaction by bitcoin anonymous the real owner of this transaction is not know. They again acknowledge and agree that bitcoin is one.
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Hell-raiser
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November 02, 2017, 09:55:39 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?
And you think it's normal when there is a certain force in the country that can not be controlled in any way and one day the whole economy of the country may collapse and lead to the devaluation of the national currency. Therefore, the government decides simply, we can not take control, it means we just have to ban it, it's just as simple. Just because the decision is simple it doesn't mean that it will be effective. They can try to ban Bitcoin but if they don't do anything to prevent their local currency from devaluation, they won't be able to stop Bitcoin. Bitcoin can be stopped only via economic means by making national currencies competitive with it. If they fail, people will use bitcoins, dollars or whatever, but they won't be using what the government calls money while it is no longer money, just useless paper. |
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Cofee.BLUE
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November 02, 2017, 09:59:12 AM |
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I think because bitcoin is being known and spreading all around the world, people wanted it badly in the fact that they do all just for bitcoin, probably yes because it is a big opportunity. And the demand is getting high but the tax is very low and sometimes niether all has no tax, tjatd why government is not gaining and earning money.
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svendoto23
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November 02, 2017, 10:14:14 AM |
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Reasons why some country banned bitcoin althought they dont totally banned it. - They don't recognize bitcoin as a legal currency.
- They need the government to manage their currency especially their own central bank.
- They think it is illegal to use currency that is not issued by the government .
- And some government still see bitcoin as a scam
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sehanmaxx01
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November 02, 2017, 10:33:26 AM |
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it's really really difficult to control Bitcoin and they cant track
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ahiaba.john@yahoo.com
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November 02, 2017, 10:53:35 AM |
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Some nations of the world banned bitcoin because many reasons. Some have seen to the future that bitcoin will takeover from Fiat and that will make their local currency valueless. Bitcoin made easy for many transaction without government interference.
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NightCloudz07
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November 02, 2017, 10:54:42 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?
because its causes to thier income to the business of thier country |
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amila_cs
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November 02, 2017, 11:05:41 AM |
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Lot of people still thinks bitcoin is some shady currency which is used in deep web by criminals, drug lords etc. Until that pictures clears when BTC becoming mainstream and accepted by all the governments is unclear. Also the banks hate BTC
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BitcoinIsAlgebraic
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November 02, 2017, 11:18:14 AM |
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Some countries fear what the currency can do to it's economy and the power it can give to it's citizens and then other countries fear what the currency is being used for.
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Faith Joy
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November 02, 2017, 11:19:56 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 country that has banned bitcoin , I think it may be because 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. |
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jasonjm
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November 02, 2017, 11:24:01 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 country that has banned bitcoin , I think it may be because 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. It is not only about tax which countries are looking at, most of the countries major concern is its economy and if the people starts investment in cryptocurriencies then their own economy will fall eventually. Another reason is its source as you never know the source of bitcoin. |
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CODE200
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November 02, 2017, 11:29:52 AM |
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because they don't know how to demand taxes from this, and still fear for the economy of the country
It is hard to have a tax on bitcoin specially when they do not know the system of bitcoin in terms of transactions, it is quite hard to tax bitcoin because of its price and it stock movement in the market. So technically government should have the capability to learn the system of bitcoin so they could help people on earning with the used of bitcoin and have a better way of transaction with faster and reliable way of transaction in the future. |
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Pattart
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November 02, 2017, 11:36:45 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 dont really gets when some countries and government banned the bitcoin. It do nothing harm on them in fact this is a good benefit. The only reason i think why they banned the bitcoin because in the Metropolitan police the bitcoin is within in the bad and crime activities to other world this is the only reason i think Lol from that reason the government forbids bitcoin dude. do you think just because the problem about bitcoin is just with police. because many cases of crime that releated to bitcoin then its not give a loss to the government? you can see a lot of people start doing money laundry using cryptocurrency and then that money is gone because it can not be traced and who is the loss? of course the government. |
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The Alchemlst
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November 02, 2017, 11:45:30 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?
Because primarily bitcoin is not part of any law or system concerning currencies which if used or invested specially in huge amounts by a certain currency of that country then it may affect the value of their own currency itself. Another one reason that I can think is about bitcoins are not taxable and decentralize and if used in illegal transactions the government will have a hard time tracking the accounts involve etc. |
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Bitcoinislife09
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November 02, 2017, 12:04:23 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?
Other countries ban other bitcoin and other cryptocurrencies maybe because there was a problem that occurred when they use cryptocurrencies, and some may don't know entirely about cryptocurrencies and for now they are afraid to make a change in their economic status. Also, officials or the government cannot control these currencies because primarily, bitcoin is decentralized. |
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pankowri
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November 02, 2017, 02:05:33 PM |
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Yeah some country banned bitcoin.Because many government hate it.Many pepole attractive for it.Actually its really good the government don't know it
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xamxam
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November 02, 2017, 02:37:21 PM |
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Bitcoin is banned in some countries i think maybe because they are afraid that other bank will close because of bitcoin or maybe they do not know what is the advantage of using bitcoin and how they can help bitcoin in their country.
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Omega Weapon
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November 02, 2017, 07:23:34 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 reasons are painfully obvious, governments are seeing bitcoin as s threat to their power and they are right, bitcoin is a currency and as we know money is very powerful and governments have the monopoly to print as much as they want and they are able to cover their expenses with that if they no longer got that then they will need to become smaller and that is something they do not want. That's a reason, another thing is the ease of illegal activities with bitcoin. Much of the illegal activities were taking place with USD, but governments were not in a state to accept it and fear bitcoin might make illegal activities more easier. Another thing is the lack of technology growth, most of the technology wise developed countries have already shown positive support for bitcoin. Maybe in future looking the growth of those countries the governments that oppose bitcoin might show interest on bitcoin. While there is no doubt that bitcoin is used by a small minority of criminals in my opinion that is just a cover up to try to ban bitcoin and blame it in external reasons, banks and governments are terrified that something like bitcoin takes off, imagine that people can store their wealth in an asset that they cannot confiscate and that is impossible to touch and that you can have with you by just having an USB with you, they are going to lose all the control over the economy and that is something they fear. |
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