Alopu
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March 08, 2018, 04:45:41 AM |
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In most developed countries, Bitcoin is totally legal, the countries where Bitcoin is banned are mostly developing countries or underdeveloped ones. In developed countries government don’t interfere with the market and let things go according to the will of the market (more like the market is determined by Adam Smith’s invisible hand). This also is contributing to the national growth of their countries and also helping the GDP grow big. But in any case, Bitcoin doesn’t care about being legal or illegal, as long as there are people willing to do the mining, developers willing to continue developing apps or software, and people willing to accept it as money and trading happens, government can’t do anything about it. The best option for any government is just to accept Bitcoin and go with the flow, and enjoy the advantages which Bitcoin offers. In the near future the overall value of the cryptocurrency industry will become more than the value of a Trillion US Dollars and just imagine how many employment it will create. One of the core duties of every government is to ensure the employment of their citizens. Governments' from developed countries offer unemployment benefits to their citizens and underdeveloped countries would just let their citizens die from hunger, just accepting a technology will provide so many employment opportunities, which the people of those countries are currently missing because their governments refuses to accept Crypto as legal.
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_Mikasa_
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March 08, 2018, 04:47:45 AM |
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In my opinion, some country banned bitcoin because they don’t have any benefits that will get on it. They can’t get any taxes or any thing that can make them have any upperhand.
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jhongzjhong
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https://bmy.guide
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March 08, 2018, 04:55:36 AM |
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In my opinion, some country banned bitcoin because they don’t have any benefits that will get on it. They can’t get any taxes or any thing that can make them have any upperhand.
Speaking of paying taxes you can't deny on that because when you cash out your fiat from bitcoin you need a remittance to claim your money upon claiming you have a transaction fee cost. So, at that time you have already paid your tax. Banning Bitcoin of some countries are having a different reason, there are some countries afraid of bitcoin what can do it might be used to do crime such as buying prohibited drugs. Or they think that bitcoin is their big competitor when it comes banking system. |
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Raufjoze
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March 08, 2018, 05:17:41 AM |
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I think they banned the bitcoint bcos they think bitcoin can be break their economy infact bitcoin is good for their people bcos the can earn the big money and can pay big taxes for the country
They should investigate more about bitcoin so they can find interesting things and thus bitcoin can show that it is not just about illegal things because it can be used also in a legal and profitable way. Because what they know about bitcoin, they only know that bitcoin is used in different illegal transactions so they just think that bitcoin is a bad influence for people to use it as a form of payment. |
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edwardnortonn
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March 08, 2018, 05:21:31 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?
most countries consider BTC a threat to their economic growth mostly due to large amounts of transactions that arent taxed. some also see it as a currency that funds illegal proceedings hence terming it illegal. |
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joan26
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March 08, 2018, 05:33:25 AM |
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Because there is a risk that it could be used to fund crime or illicit terrorist activity, another reason is that it can be a route to circumvent capital controls, that's why some other countries ban bitcoin.
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Sergey190785
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March 08, 2018, 05:40:15 AM |
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bitcoin and all-kriptovalyuta-this is bypassing banks. States and banks of course do not like it, but over time, the banks will crowd out the crypto currency.
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Kadal Ijo
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March 08, 2018, 05:45:37 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?
most countries consider BTC a threat to their economic growth mostly due to large amounts of transactions that arent taxed. some also see it as a currency that funds illegal proceedings hence terming it illegal. Yes, anonymous features make bitcoin feared to be a place for illegal activities, in addition to being used to avoid taxes and illegal transactions, if bitcoin is legalized it can make the legal currency continue to lose its popularity. |
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cryptotaste
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March 08, 2018, 06:06:15 AM |
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I think the reason why countries are banning bitcoins is because governments don't know what to do with bitcoins yet. They do not have full control on it. So they will be banning bitcoins first and then just lift the ban once they regulate bitcoins or something. That's how I think South Korea addressed the problem with cryptocurrencies.
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Aileen C.
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March 08, 2018, 06:32:21 AM |
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I only knew few countries that banned bitcoins but other countries are accepting it , and some are still on the process of knowing btc.
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oracleongoodbye
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March 08, 2018, 06:41:22 AM |
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Because other countries around the world have a wide ranging view of the digital currency bitcoin or a “virtual currency.” Western superpowers like the United States and United Kingdom have shown a positive attitude towards the new technology. Some countries like Canada and Australia are still deliberating on what to do about Bitcoin, legally. And the many others have already made their decision against digital currency as a whole, and bitcoin, in particular, so here we’ll list the ten places you’ll find the most trouble using bitcoin. Keep in mind not recognizing or supporting the use of bitcoin and banning bitcoin are two different things. This article focuses on those who ban bitcoin legally, or in practice.
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mware
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March 08, 2018, 06:50:29 AM |
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there some reason why country banned bitcoin like scams/hacks, illegal use of cryptocurrencies and a lot of problems with crypto being used on the black market. besides they also want to make regulators with new taxation laws
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MS.LAWLIET
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March 08, 2018, 06:58:29 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 country banned bitcoin because the government can't control it from the collection of taxes up to the transactions it does. it can be possibly used for illegal transaction that some government are trying to avoid. |
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Milonsa
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March 08, 2018, 11:12:05 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?
Yes I think Bitcoin some country banned.my country government bitcoin not accept.my country recently banned the use of bitcoins and other digital currencies.they're think bitcoin is any problem.my government bitcoin think crimes full using and bangladesh bank has banned the use of bitcoin, a virtual cryptocurrency. |
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Minerfortyniner
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March 08, 2018, 11:20:11 AM |
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Because it is decentralized P2P open source digital currency. Governments can not control bitcoin or any other cryptocurrency
like they can with the central banking system. So it's just easier to outlaw them. I don't believe they will stay outlawed in those countries.
Mainly because I beleave that cryptocurrency is the future of money. As a matter of fact I predict by 2050 we will no longer use fiat money.
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khurramshah
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March 08, 2018, 11:32:02 AM |
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Some country banned bitcoins because they feel that they think that if they legalise the bitcoin their own currency value may be down or people not using the paper currency so they feel thy find it difficult to trace the bitcoin transactions to updated in technology or reluctant to adopt the new development in technology.BTCBTCBTC
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Boknoyz
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March 08, 2018, 11:32:15 AM |
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Some country banned bitcoin because There are have a own rules of his country. They thing that if bitcoin login our country it will be more harmful for our country so those country banned bitcoin, Actually they don't know what result of bitcoin and they're don't know about bitcoin so they don't understand and they banned it.
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Old Bindu
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KEEP CALM and HODL
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March 08, 2018, 11:37:27 AM |
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Countries that prohibit bitcoin and cryptocurrencies there are countries with totalitarian form of governments. For example, North Korea. This is a typical example of a totalitarian state.
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knight20
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March 08, 2018, 11:41:00 AM |
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Because they don't know what is really bitcoin. They think that bitcoin could affect their economic status. And because of social media banned bitcoin they think bitcoin is really a scam. But we can't blame them they just want to reduce the scam victim.
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kimjin
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March 08, 2018, 11:42:54 AM |
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The legitimate status from claiming bitcoin varies significantly from country will organizations in the nation and will be still undefined or evolving Previously, a lot of people for them. Whilst those greater part of nations don't settle on those use of bitcoin itself illicit its status Likewise cash varies, for varying administrative suggestions. Same time some nations bring unequivocally permitted its use Also trade, others need banned alternately confined it.
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