why some country banned bitcoin?

[marjoree]

Maybe their government wants their own paper money to continue running and not be easily moved with the capability of bitcoin. And wants their people to still exert effort and not live an easy life but live in a real life

[megynacuna]

In such countries, canvasses believe that this will damage the banking system and most businessmen, increase the turnover of drugs and other "black" money.

You nailed it dude, that's what most governments and central banks feel about Bitcoin and cryptocurrencies in general, they deem it a threat to their local fiat and banking system and so come up against it will all sorts of decrees.

[btcboss71]

In my country, a lot of people are using bitcoin. They are getting payment from online work through bitcoin. They are even storing bitcoin for their future and for making a good profit. The number of bitcoin user in my country is increasing and increasing. The government has no decision about using bitcoin. They are working to give a law for using bitcoin. Whatever rules they imply, the user will increase. The faith about bitcoin among the general people is increasing here.

[Dilladupak]

bitcoin is a digital currency, and countries that have understood that potential have found bitcoin user plans for different needs, but one reason why a country forbids bitcoin because the country is experiencing the disadvantages of this very popular bitcoin. and lots of those deals in bitcoin. because bitcoins do not pay taxes at all when they use bitcoin, in comparison to banks, so they partially forbid it.
 

[abitCrypto]

Few things comes to my mind, one could be how to impose taxes on things being sold or bought through bitcoin, second how to save consumers from fraud, definitely there is need for building a whole ecosystem around it.

[cmacwiz]

Bitcoin serving people since last 8 years. Many people using bitcoin as a job and get paid well. Many government legalised it wher as many government like china ban it. Their might some reason behind it. Bitcoin may be control their country economic and they doesn't want that. They might want full control of them on their economic . Bitcoin doesn't pay tax so it might be cause. Bitcoin can be use by many anti social person to fulfill their dirty things. Another reason of banning bitcoin  transaction of black money.

[Faruque312]

bitcoin may be considered money and its illegal for some countries like (Bangladesh, Bolivia, Ecuador, China etc)
they don't allow bitcoin,, maybe if they use legally then real money can not use in the world so its a great loss for the world

[Meycell]

because they don't know how to demand taxes from this, and still fear for the economy of the country

Short but direct to the point, it has still uncleared reason why they actually ban it to somw countries, but as what i am wondering maybe they see it as an economical competition between currencies that might actually lose the capability and uses of cash or fiats instead.

true maybe goverment scared bitcoin can be rival the fiat money
if all people in the country use bitcoin maybe can help the economy each person

[Dod Ong]

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 problem why some country banned the bitcoin because they do not like the people in their country to become lazy, so they ban the bitcoin in their country. They banned the bitcoin in their country to be fair in other people to their country

[Ridwan Fauzi]

Actually for in my country do transaction through bitcoin is banned. But if to mine or investment it's still allowed. One of the reasons for the banned isn't absence of the legality agency for bitcoin.

[chichan13]

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 are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same.

[moamin77]

Simply because they want to control everything!
Being decentralized; BTC is totally against their objective

[greenclub09]

many country banned bitcoin because bitcoin is untraceable when trading but the government want bitcoin under the their control, want bitcoin pay taxes as a normal currency, and another reason is they think if everyone can use bitcoin, the profit for banks will drop, finally, they know there are many scam about bitcoin that make them can not believe in bitcoin.

[Odora]

I think the cause of some countries banned Bitcoin is
1. They are afraid of the currency that their country created will be knocked out by Bitcoin

2. because the security level of Blockchain technology is so high they are afraid Bitcoin will be a tool of corruption by the government

3. They can not impose a tax on Bitcoin

[rajuahmed763]

In such countries, canvasses believe that this will damage the banking system and most businessmen, increase the turnover of drugs and other "black" money.

oh i see! yes, somehow i saw a news from online bitcoin ban main reason is money tranfering in others secret way. Its remains us to give banking system damage and black money use for huge.

[bitllionaire]

In such countries, canvasses believe that this will damage the banking system and most businessmen, increase the turnover of drugs and other "black" money.

oh i see! yes, somehow i saw a news from online bitcoin ban main reason is money tranfering in others secret way. Its remains us to give banking system damage and black money use for huge.

I don’t agree with you as am of a different opinion because I am very hopeful that all the banks will merge the precious bit coin in their system and they will assist us in online payment and other necessary transactions.

[zais]

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

one of the reasons, because of its tendency to be anonymous without name, identity with anonymity will be susceptible to fraud, if somebody commit fraud by bitcoin method would be difficult to reveal who the owner and the receiving of bitcoin, especially if happened on error payment system

[BlackPanda]

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

one of the reasons, because of its tendency to be anonymous without name, identity with anonymity will be susceptible to fraud, if somebody commit fraud by bitcoin method would be difficult to reveal who the owner and the receiving of bitcoin, especially if happened on error payment system

In the end bitcoin could potentially be used as a medium for committing a crime. now we can see that already found many illegal acts that use the media financial intermediary is bitcoin. so the country has a fear that bitcoin could damage its economic system and when Bitcoin is used more for illegal things then bitcoin prices may decline, they are frightened by the loss and can also be a huge loss. but it can all be avoided, all countries must unite to build a strong regulation for the future to create a law that can regulate bitcoin.

[Dewi08]

Maybe the government does not want people to lose so much money in terms of having bitcoin, because we know that the risk of having bitcoin is very large, if not properly guarded, it is likely to lose bitcoin, so that's just why every country forbids the existence of bitcoin ...

[livingfree]

Bitcoin is banned to those countries because they government treats it as a scam and something that's involve with illegal activities. And they are scared about bitcoin because it brings distress to the financial businesses such as banks so those banks are appealing to the government and wants to ban bitcoin.