Nold
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quarkchain.io
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December 07, 2017, 08:47:23 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 government fears that can not control. From the point of view of security and from the point of view of taxation. |
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P60
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Decentralized Digital Billboards
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December 07, 2017, 09:02:34 AM |
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they are afraid that the country's currency is going down, and bitcoin is the main currency
Yes, I think so and I guess it is the matter of trust of individuals. People don't just trust easily and don't want to accept another currency. Also, I think some country banned Bitcoin mainly because of the government. Like what you have said, they are afraid that Bitcoin takes the big part of all the people's life there and causes to the economy to drop-off |
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BCTS
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December 07, 2017, 09:04:53 AM |
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Officials are actively engaged in corruption, prohibition bitcoins they believe that fighting corruption.
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kolbalish
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December 07, 2017, 09:11:12 AM |
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First of all,This power is totally handled by government. If the government is sincere then Bitcoin is legalize in this country and it not then not legalize.But I think, some government isn't sincere and they think that their economic slow down is possible for Bitcoin.Actually, that not happen for Bitcoin.Anyway,I think for those reason,some country banned Bitcoin.
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Edrian
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December 07, 2017, 09:27:48 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 a lot of reason why they banned bitcoin, one of the reasons is. The government in other country are afraid of bitcoin because it can disrupt their economic system they cannot control bitcoin and there is no central bank unlike fiat that they can easily be controlled it can also reduce bank profits because if bitcoin gain a lot of attention the investment in the bank will decrease. Another is bitcoin is anonymous and it is hard to track, for this reason, some syndicate organization freely used bitcoin in crimes. |
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nebuch
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December 07, 2017, 09:41:49 AM |
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I think because of what we called quick downward of FIAT money or they don't want to interfere with btc because they are not sure of its future.
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pankowri
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$CYBERCASH METAVERSE
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December 07, 2017, 09:42:41 AM |
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Because, some government is not legalize Bitcoin and I think those government is not sincere about Bitcoin.It is the main reason for banned Bitcoin in some country.
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CoinOnTheBeach
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December 07, 2017, 10:48:01 AM |
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as soon as the relevant regulation is in place they will un-ban it.
it would be really shortsighted to opt out.
unless you are not a democratic / free market operating country.
in this case you don't follow the economy rules
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DoublerHunter
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December 07, 2017, 11:54:59 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 a lot of reason why they banned bitcoin, one of the reasons is. The government in other country are afraid of bitcoin because it can disrupt their economic system they cannot control bitcoin and there is no central bank unlike fiat that they can easily be controlled it can also reduce bank profits because if bitcoin gain a lot of attention the investment in the bank will decrease. Another is bitcoin is anonymous and it is hard to track, for this reason, some syndicate organization freely used bitcoin in crimes. I agree with your reasons. Anonymity is one of the reason for bitcoin to get banned because the government is not comfortable with that because it can promote more criminality in their country which is not good for their economy. Some of the country banned bitcoin because of that but most of the other countries are accepting and legalizing bitcoin because they want to embrace the opportunity. |
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sampalokmix
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Investing in the future development of blockchain
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December 07, 2017, 12:15:21 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 maybe they didnt see bitcoin as a way of their income ,its either they have the idea what Bitcoin is really all about or they have enough determination to seek information and know whats the truth beyond this. |
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Ultimist
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December 07, 2017, 12:29:07 PM |
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It is impossible to track transactions, the power is scary. Especially when it comes to dealing with terrorism, drugs and corruption.
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nagatraju
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December 07, 2017, 01:35:39 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?
There are a lot of reason why they banned bitcoin, one of the reasons is. The government in other country are afraid of bitcoin because it can disrupt their economic system they cannot control bitcoin and there is no central bank unlike fiat that they can easily be controlled it can also reduce bank profits because if bitcoin gain a lot of attention the investment in the bank will decrease. Another is bitcoin is anonymous and it is hard to track, for this reason, some syndicate organization freely used bitcoin in crimes. I agree with your reasons. Anonymity is one of the reason for bitcoin to get banned because the government is not comfortable with that because it can promote more criminality in their country which is not good for their economy. Some of the country banned bitcoin because of that but most of the other countries are accepting and legalizing bitcoin because they want to embrace the opportunity. I also agree that the reason is precisely this - the government is afraid that the economy will get out of their control...but those who see the prospect in the cryptocurrency - legalize it |
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MMostaza
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December 07, 2017, 01:51:44 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?
There are a lot of reason why they banned bitcoin, one of the reasons is. The government in other country are afraid of bitcoin because it can disrupt their economic system they cannot control bitcoin and there is no central bank unlike fiat that they can easily be controlled it can also reduce bank profits because if bitcoin gain a lot of attention the investment in the bank will decrease. Another is bitcoin is anonymous and it is hard to track, for this reason, some syndicate organization freely used bitcoin in crimes. I agree with your reasons. Anonymity is one of the reason for bitcoin to get banned because the government is not comfortable with that because it can promote more criminality in their country which is not good for their economy. Some of the country banned bitcoin because of that but most of the other countries are accepting and legalizing bitcoin because they want to embrace the opportunity. I also agree that the reason is precisely this - the government is afraid that the economy will get out of their control...but those who see the prospect in the cryptocurrency - legalize it I agree with these reasons. And I believe that if governments are on the path of research for the improvement of their societies, instead of ban they should regulate it. If is true that they are afraid, better than ban (which will not prevent of people trading) would be regulate it, so they have at least, a better control of what is going on in their country referred to Crypto currency. The British Treasury is planning to implement a wide regulation in Europe, and they said that one of the main reasons for doing that is the high price Bitcoin is rising. From my point this means that as much people is using Crypto currency, more nonsense will be to ban it and more logical to regulate it. The problem I see on that is the kind of regulation they will do. Because probably will be just based on prevail their own interests. Here the article about British Treasury: https://cointelegraph.com/news/british-treasury-plans-to-implement-eu-wide-cryptocurrency-regulation-by-late-2018 |
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Mystica101
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December 07, 2017, 04:08:07 PM |
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Because in some country it is illegal to use any kind of currency that is not controlled by a government or the banks and if you are caught doing transactions on bitcoin industry or any other crypto related it is considered as punishable offense.
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Christian13
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December 07, 2017, 06:42:26 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?
not all countries are as forward thinking especially when it comes to cryptocurrencies. Believe it or not, Bitcoin is still illegal in some countries, which says a lot about Bitcoin as a disruptive technology. Example of country country that bitcoin is banned is vietnam, bolivia and iceland but if bitcoin begins to gain traction throughout the world, it’s possible that these countries may eventually change their stance on Bitcoin and digital currencies. |
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markers
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December 08, 2017, 11:28:14 AM |
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Because there is a risk that bitcoins could be used to fund illegal activities, e.g. terrorism. One more reason is that governments can lose control over capital flows.
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reingelz09
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December 08, 2017, 11:33:07 AM |
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Some country ban bitcoins its because their afraid that bitcoins will dominate and it will cause bankruptcy of the banks. It will affect all the transactions of not only in bank but also some remittances all over their country.
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btctousd81
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December 08, 2017, 01:45:44 PM |
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its simple, government will ban anything and everything which they cant control i.e. cant make profit off of it., i.e. cant tax it.
and bitcoin by nature is decentralized , i .e. its people's money no control on it whatsoever.
so obviously, govrn., hate it and they mark it as banned. but it doesnt stop people from using it.,
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kalawang
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December 08, 2017, 02:05:07 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 country but i think not country , but goverments in some country because some goverments still hates this bitcoin they scared about crypto because bitcoin and all crypto can replace the all banks in the future. |
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jassanpary
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December 08, 2017, 02:09:10 PM |
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its simple, government will ban anything and everything which they cant control i.e. cant make profit off of it., i.e. cant tax it.
and bitcoin by nature is decentralized , i .e. its people's money no control on it whatsoever.
so obviously, govrn., hate it and they mark it as banned. but it doesnt stop people from using it.,
Yes, that could be the main reason why most countries banned bitcoin.Bitcoin is not taxable so if it is tax free then government will not get share from it, it may affect the counties economy, some may think it is illegal like this they think and banned the bitcoin |
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