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bitbob82
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October 28, 2017, 07:34:05 PM |
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So far, the BTC remains legal or unregulated in most countries, the strange thing is that it is only banned in third world countries, this proves how much state control over a society is harmful
China has banned ICO in their country, is china a developing country??? I do not agree with you in this regard because there are different priorities of each country and each country wants rule of law in their country. I think after certain measurement china will very soon legalize ICOs, Because it is their 2nd time that they are taking the sept. |
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hurain
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October 28, 2017, 07:35:05 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. |
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stolendata
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October 28, 2017, 07:35:59 PM |
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every country have taxes. but if u put or gain money in bitcoin, u didn't get taxes. i think thats why bitcoin not supported in some country.
I am also of the same view that the reason of banning bit coin is that there were some problems in implementation of taxes on bit coin as it is a virtual and decentralized crypto currency so the government of the concerned countries got frightened and they ban ICO in their country. |
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Zenithar
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October 28, 2017, 07:37:00 PM |
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First of all they don't know how to demand tax from bitcoin and also the fear of they economy being destroy by bitcoin is another reason. And also the government are afraid of bitcoin because they can't control activities since bitcoin is a decentralized currency and not under any central bank of any country, the government are afraid that it is easy to launder money out of the country using bitcoin. So many reasons leads to some country ban on bitcoin.
Implementation of taxes is the primary due to which each and every government and in case of bit coin they did not know the way that how they will implement taxes on bit coin which is decentralized crypto and virtual currency and it is very hard to put taxes on bit coin. |
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ghost07
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October 28, 2017, 07:46:09 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?
In some country they banned bitcoin for some reasons, bitcoins transactions is not traceable thats why all illegal transaction can be made without hussle. All bad guys can transfer and receive money easily. Taxes is also the reason that why they banned them only bitcoin wallets can pay the taxes but the holder cant. |
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Barbut
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October 28, 2017, 07:56:31 PM |
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In which countries bitcoin is banned? People comment this topic to get paid and most comments are the same, they banned bitcoin for this and that, but almost no one in this topic said in which countries bitcoin is banned and how?! Its not banned anywhere from what I know of, can they stop people to buy it, sell it, I don`t think they can. Before commenting search a bit more about topic and then make a comment, like this you just create mess and fill the forum with unnecessary informations, that are not truth by the way.
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Jewell
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October 28, 2017, 10:41:00 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?
Some countries banned bitcoin and other cryptocurrencies because first of all bitcoin and other cryptocurrencies doesnt give you taxes so that it is not good to government so they ban it. I think those countries who banned bicoin in fact they do not know the importance of bitcoin, i am sure that once they will know the imprtance and benefits for bitcoin they will never try to bane bitcoin and will surely give more support to bitcoin but i think it will take a little more time. because currently the users of bitcoin are not so much satifactory. |
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ace9989
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Activity: 177
Merit: 11
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October 29, 2017, 03:31:55 PM |
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The reasons are they don't see bitcoin as a legal currency , and they think that bitcoin is not issued and controlled by a central banks. And they don't have any law or regulations on how bitcoin can be used in their country.
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joanshu
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October 29, 2017, 03:37:14 PM |
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some country ban bitcoins as they think that they are working for something is illegal or they might got a wrong idea about bitcoins that it is something like the black market maybe that is the reason it is banned in some countries .
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AmeSakibimasu
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October 29, 2017, 07:04:46 PM |
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lots of people are asking for curiosity about why bitcoin was banned in some of country. Because they are using for illegal process. Government think that bitcoin was a scammer and also most of people in their country used bitcoin for illegal drugs but other country are not banned because they have responsibility to handle, use it in legal process and they are focus on what they need for their future.
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humanCNC
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October 29, 2017, 07:39:27 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?
Maybe, They think that btc facilitates criminals who commit criminal offenses, especially money laundering. In other words, some countries can't control using btc of people. They found that the government did not receive any benefit from that, so the ban was issued. |
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Omega Weapon
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October 29, 2017, 08:03:27 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. |
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ashfer
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Merit: 100
https://luxantdigitalbank.com/
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October 30, 2017, 03:19:19 AM |
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As per my view i think that some countries started banning bitcoins as they feel it as something which is against their government and they feel like people are cheating on tax by investing in bitcoins and they see it as a threat for their nation.They even feel it as a threat because there is no role for any government in bitcoins as it is a decentralized platform and nobody knows the the identity of the bitcoin holder and it does'nt need any personal information to make transaction from any part of the world and they don't need any information on how and from where the money came for investing in it and so the government doesn't feel safe.
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n0ne
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October 30, 2017, 03:24:16 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?
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. |
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Restmand
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October 30, 2017, 06:16:12 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 some country banned the bitcoin because it is only burden to their economics and other thinks if they allowed bitcoin there's a chance to lead in their economics that's why theu banned it. And like the bank, im sure that the government banned the bitcoin because ita become burden inghe bank too. Because if people know about the goos benefit of the bitcoin i think they go afyer the bitcoi because we know that the bitcoin can't collect any interest on us and also can't collect the tax |
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jagdeepjd
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October 30, 2017, 06:25:35 AM |
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I think the small countries are the one who are thinking to ban or banned bitcoin. their government is skeptical about bitcoin how it works and as it is decentralised may be it could be used for some illegal means .
but i do believe once they will understand bitcoin and whole cryptocurrency thing how it works they will cewrtainly rethink about it and start regulating .
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john70
Newbie
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October 30, 2017, 06:31:55 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?
Some countries fear that bitcoin would be used for money laundering and also they would lose tax revenue.They feel that bitcoin would be used for illegal activities also.So,they are interested in banning bitcoin. |
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Usafstar
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October 30, 2017, 06:32:52 AM |
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There are many countries which banned bitcoin in their countries. There are several reasons beyond this bane. The foremost is the inflation of country is increasing due to this because through this the income level arise due to this the flow of cash comes to a country the people hold foreign currency and they used that currency.
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meomeo2
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October 30, 2017, 06:37:38 AM |
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When bitcoin exceeds $ 5,200, JPMorgan Chase & Co. with Wall Street competitors demonstrating their willingness to engage in business and virtual currency research.
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d1ceplayer
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October 30, 2017, 09:58:45 AM |
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because all the big changes are afraid that the commissions will be cut off because they have built-up structures and frightened their owners and scared the money-holders who have won big money from it.
I think they just want to give some more time to bitcoin and they are looking to other countries who’s accepted bitcoin may be they want to see the changes first in those countries but there is no doubt that bitcoin can play a big role in in economy of any country so I’m sure very quickly these countries will accept bitcoin as well. They must have their reservations about bitcoin so they banned bitcoin in their respective countries, otherwise many other countries have promoted bitcoin in their countries and the people are using and investing in bitcoin for their daily routine expenses. May some countries doubt about the fairness of bitcoin and they afraid of scams that’s why they have banned bitcoin. I don’t think that there should be any other reason for bitcoin banning. |
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