why some country banned bitcoin?

[halenephthys]

Some country banned bitcoin because accepting might take some risk. Bitcoin is a decentralized cryptocurrency. Every transactions happened here do not need any intermediary. Transactions made can not be tracked and known by the government. Therefore, illegal things may occure that may harm the country.

[cjinny]

Some countries that prohibit bitcoin have different reasons, but there is one obvious reason they are afraid of bitcoin, which is anonymous and decentralized bitcoin properties. The state can not track its citizens who use bitcoin because bitcoin is anonymous, and the state can not control bitcoin, they are worried about bitcoin being misused for illegal activities

[tanjiran]

Some countries that prohibit bitcoin have different reasons, but there is one obvious reason they are afraid of bitcoin, which is anonymous and decentralized bitcoin properties. The state can not track its citizens who use bitcoin because bitcoin is anonymous, and the state can not control bitcoin, they are worried about bitcoin being misused for illegal activities

It is true. This means no official administrator controls it. The government can not control it. So most governments are afraid of their misuse as a tool of criminality, such as terrorist financing, black markets, and the most feared can disrupt economic stability.

[jackylion]

If bitcoin is used, two negative issues will occur. First we talk about taxes, if using bitcoin, it will be difficult to control the tax for the country. The second proplem, bitcoin trading in some countries has happened badly. Their government has banned bitcoin. These are the two main factors.

[Ethan112]

you have some point! Thats what I thought too.I think some countries try to ban bitcoin in because they are afraid of something new, they are afraid that bitcoin will have a negative effect on their country's economy

[coldeyes77777]

Because btc is desentralized, and each transaction got no taxes. Thats what gov fear.

[leo6679]

"Due to the lack of guarantees for the Bitcoin virtual currency, the Bitcoin value is speculative, the user is at risk of losing the Bitcoin exchange rate unexpectedly', "pose financial risk to those who hold it" ....This is the reason that some countries panned bitcoin.

[Olegnar]

For governments cryptocurrency is not a stable currency. They would like to collect the tax from our crypto income, but they still don't have a model for that.
Main thing with crypto is that we still can't and don't use it like fiat money, everyday payment. Not even one coin is capable to handle taht these days.
And when you add a strong volatility for governments is a strong signal no, no, no.
Governments need to control it.

[johnson4218]

They can not manage bitcoin. Can not control cash flow. and if they can not control the money. Power will not be in their hands. The bitcoin ban would certainly occur there

[Gens09]

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 want to prevent the deception of other people to their citizen and it may also prevent many things like buying illegal guns, drugs, etc which can leads to peace if they have prevent it. also some countries are strict that they want their citizen to be a responsible one they do not want them to depend on bitcoin and teach them the right education.

[yaelahwall]

Because there are countries that prohibit the use of bitcoin just because to protect the people in order not to incur losses because the government assess Bitcoin value fluctuates so much more detrimental to the people

[popoypalaboy03]

Most countries that forbid bitcoin are communist countries where the country is fully in control of the economy of its people so it would be contrary to the very privacy bitcoin and even the state can not set the bitcoin so that the communist state would definitely prohibit the use of bitcoin. Bitcoin is also considered to weaken the currency of a country because of very large exchange rates and bitcoin is also not clear who is managing it so this is also a reason to ban bitcoin in some countries.

[bennysax]

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 ban or intend banning because they feel threatened. It is seems to them like wealth and power may be shifting from the highly placed(the elites) to the average and below average class. Have you forgotten that the rich has always liked to oppress the poor with their wealth ? This I feel is exactly what is playing here.

[dynospytan]

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 they might think that bitcoin is a scammed scheme. Aside from that a lot of people nowadays wants to earn bitcoin because it is getting more popular because of its price and the problem of that is they will not find a job and they will just focus on earning bitcoin. In that doings, there will be a big effect in their economic status because they are not paying taxes.

[dragonarc]

I'm not so sure why but i think they are just scared that they can't take bitcoin profit as tax, reducing the country tax income

[Caesar Cung]

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 many reasons and one of the main reasons is political interference when an economy is afraid of losing all its self-balancing tratas as btc grows fast and its people will withdraw money from investment bank to btc

[cmacwiz]

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

As each coin has two sides, bitcoins being so advantageous, also has few limitations that made government of several countries to ban it and the only reason for their banning of bitcoin is country's security issues . As BTC is still decentralized and there is no governing body over it, so it is also been used in some sort of illegal activities and that is the sole reason that governments banned BTC. Once BTC be centralized, then problem will automatically be solved and thus countries will remove the ban also

[Rebisco]

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

Bitcoin has many disadvantages! So the reason why some of the government are banning bitcoins is because they are aware that bitcoin can threaten the financial institutions.

[VeganNation]

It's been banned in some countries because the governments aren't strong enough to keep the fiat currency in order and basically are afraid to lose control of the people because of bitcoin.

[bitsharks95]

Some countries do not believe that the risks permit the recognition of Bitcoin as a virtual currency, let alone its use within their financial systems.
The only way for people to change the legislation is to let the governments know their demand in stable and decentralized currency.