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Author Topic: why some country banned bitcoin?  (Read 9720 times)
hackl3r
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February 08, 2018, 11:36:21 PM
 #841

Because they can not control it! It's very simple. Only private companys are actually doing something with BTC...

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elisabetheva
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February 09, 2018, 03:52:48 AM
 #842

Because they can not control it! It's very simple. Only private companys are actually doing something with BTC...

With so much to do in btc and many who benefit from it have even made a search for a day job, it will be hard to forbid it to work.
indeed every country has its own policies to ban, but more probably because taxes are difficult to implement.

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Mazda17
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February 09, 2018, 04:07:44 AM
 #843

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 countries prohibit the existence of bitcoin because the government feels unpaid for taxes, and also the government is not going to blur the community in droves using bitcoin and then for some sort of real work like the existing baprik factories are getting less demand then the government forbids the existence of bitcoin. As if the existence of a crypto can damage which good company company exists if 90% of people use crypto.
TobyToby12
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February 09, 2018, 04:13:59 AM
 #844

In my country bitcoin is banned for money laundering.We all know bitcoin transaction is untraceable and bitcoin is not handled by anyone.That's why some bad people are taking advantages of it. This step was taken by China to ensure the security of money for their people. That’s what written in the articles if you read over the internet. So may be that and also another reason says those countries don’t want to loose control over their national economy just because the nations money is driving into decentralised system.
JakeJake99
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February 09, 2018, 04:15:23 AM
 #845

The bitcoin creates an opportunity for anonymity of payments and if it is impossible to monitor payments, then there is nothing to lay over a tax. The budget of any country is replenished at the expense of taxes. If there are no taxes - development of economy in the country will slow down. I guess they banned bitcoin because they think it is a scam even though its not a scam.
Louie6789
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February 09, 2018, 04:17:06 AM
 #846

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.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.
Elijah1980
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February 09, 2018, 04:19:15 AM
 #847

 Every country gets a big amount of money as vat fir each transaction of money. People have to give this money. As bitcoin is free transaction system, people are using this coin vastly. And for this the banks and the countries are at loss. As bitcoin system doesn't need any real identity of the user, the security issue for the country harms. Actually, I think that Governments just ban ICOs in short-term. They just need more time to regulate Cryptocurrency and tax from it.
antosionta
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February 09, 2018, 04:20:41 AM
 #848

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 banned bitcoin because their government.
They do not want the banks on their country is replaced by crypto currencies.
anything9ce
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February 09, 2018, 04:22:31 AM
 #849

what!
that's just like refusing to accept change, trying to remain in the past cause bitcoin is the future its coming to take over, i think must country banned bitcoin just because of tax,they just don't no the means to collect tax
Reuben89
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February 09, 2018, 04:24:03 AM
 #850

 There are always the fringe who do not accept new technology for whatever reason.The government if they found a case that some criminals use bitcoin as the method for them to move their funds, could simply taking advantage of the already existed bitcoin blockchain explorer, so that's not the right reason you mentioned.
Falgorn
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February 09, 2018, 04:24:25 AM
 #851


There are countries that are afraid of crypto currency due to volatility, decentralized nature, which is perceived as a threat to the current monetary system and associated with illegal activities such as drug trafficking and money laundering.

ArloArlo
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February 09, 2018, 04:27:04 AM
 #852

They want to effectively be in control of their money's movement in and out their country of jurisdiction. These reasons are valid enough to ban the proliferation of Bitcoins.If you want real anonymity with network payments, you should use coins which don't have public ledger at all, for example, byteball. It allows truly anonymous and private transactions between two parties which don't get written anywhere.
CuteBaby123
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February 09, 2018, 04:27:32 AM
 #853

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

Countries that banned bitcoin are commonly threathened in the presence of bitcoin because it is decentralized and has the freedom financially. These countries also wanted to take control all the activities in their countries especially so that bitcoin cannot be regulate in terms of taxation.

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HugoHugo2
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February 09, 2018, 04:28:41 AM
 #854

If extra currency flow in economoy its effects in total economy and general public suffer for it. Bad people can easily do their work when they have extra large amount of money.I think many country don't accept cause he don't want to come in world currency and digital currency. many country think bitcoin effect her money lander.
Rappyboy
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February 09, 2018, 04:30:12 AM
 #855

Well most of those countries did not really ban bitcoin, what happened is they are afraid of the power behind the technology, that people might get so greedy and situation get out of hand, due to its not regulated and can be use illegal transaction.
ethan9990
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February 09, 2018, 04:31:30 AM
 #856

Because they can't control Bitcoin. It's a kind of anonymous money. People use it don't have any information. Government can't know and tax from them.
loof99
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February 10, 2018, 01:22:26 PM
 #857

I think the reason behind why other countries banned bitcoin is because of other bad people use their services in illegal or fraudulent activities which ruined the reputation and name of their company.
I think the bitcoin should do some actions from this acts.

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boddy.dy
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February 28, 2018, 10:08:17 AM
 #858

Every country has different rules that they are implementing. They also have different believes that they follow. This is the reason why some countries banned bitcoin because this did not pass on their standards or it did not follow the rules that they are implementing. All countries definitely want to have a profit on something that are running in their land. Unfortunately some countries sees that bitcoin will not give any profit to their country that’s why they just banned it. Some countries says that bitcoin was been used in illegal transactions like payments for items in black market which forced them to totally banned it to their jurisdictions.
Irsanhadi
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February 28, 2018, 10:21:21 AM
 #859

perhaps the right rule does not exist to legalize bitcoin so some countries forbid it and still consider the negative impacts such as money laundering, easy drug transactions.the bitcoin users can not get taxable this may also be the cause. so the country is afraid of tax revenues decreased if the community played bitcoin.
Tsugihara
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February 28, 2018, 10:23:20 AM
 #860

probably because bitcoin is not controlled by government agencies because using a system of blockchain and bitcoin can also be used crime and terrorist crimes
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