why some country banned bitcoin?

[riskarcher]

BTC Created not as a global payment because in this era bitcoin is only used as a passive investment not for active payments and still not recognized by any government in the world. maybe if the government regulates bitcoin I'm sure it will be very easy to introduce bitcoin to the world

[lfc_san]

I do not think there's anything wrong with the bitcoin itself. I think some countries banned bitcoin because they can not know the identity of bitcoin users so it is feared money laundering.

[sapnu]

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

Bitcoin is being banned by some countries because they are seeing it as a threat. They think bitcoin would only lead their economy's downfall. We all know that bitcoin does not have any tax so it means people will be able to get high incomes without paying any extra fees for the government. There are still a lot of reason why bitcoin is being banned by some countries.

[KrisAlex18]

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

We all know that all bitcoin users are made anonymous which means illegal transactions with the use of bitcoin would be made more convenient for some criminals. To avoid any of this incidents, some countries has already banned bitcoin to make sure felonies will decrease involving the use of bitcoin. I hope someday this kind of occurrence would disappear and bitcoin will get to be more acknowledeged as a good thing.

[Pier7]

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 I think may the these countries want to use their people to work for them in order to get tax from them I think they are worry about it that when they let free bitcoin in their countries so all the people will move toward bitcoin and they will start to get their money from bitcoin so I think that can be a reason which is a wrong decision by them.

I agree with your viewpoint, the countries that banned bitcoin wants to protect their national currency and they know they can't add tax to bitcoin because it is controlled by no one. Hence, they can't collect money from their people.

[rukawa101]

I know some stories where BTC was banned as they were used for nefarious reason, its ease of use for criminal purposes and its high risk for investors.
Some countries chose to ban it 'cause they can't regulate it.
Others banned BTC and ALL cryptocurrency as they plan to make a state-backed cryptocurrency.

[Noilee]

In my opinion, the one main reason that other countries ban bitcoin because of the taxes. If most people are earn in bitcoin, the government can't control it anymore, because they afraid of they don't get or collect tax from people so they will banned bitcoin.

[kasianov77]

in my opinion, exclusively Amateur and without representation ozov politicians, I can assume that such States are weak and afraid to be crushed by such technology.

[luis dvmd94]

Some country banned bitcoin because they don't know how important is this forum in every person here. They don't have knowledge or ideas what bitcoin can do our daily lives and in our future. They think that this site is all about gambling or not trustable. But here in my country I can freely use Bitcoin.

[adpinbr]

Its because other countries disapprove bitcoin, much likely governments are banning bitcoin because of some reason, but again countries like Japan who has fully utilized bitcoin's use is magnificent, the economy is uprising and has a continuous degree, and this is why I don't know the reason why is there a need for banning bitcoin, can anyone state me reasons why some countries are banning such potential to uprise their economy, but again I fully respect everyone's point of view.

[calum holding25]

You know the government afraid that they cannot control the bitcoin so they purposely ban it. With bitcoin, you don't have to pay the tax but the tax is a source of income for the government. So the fact that they ban bitcoin, they just want to get more tax from you guys. You can earn a lot from bitcoin and you don't have to pay tax, that's why they ban it.

[bce]

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

possibly many of the reasons countries fear as criminal fundraising and fear of inflation against the local currency of the country and possibly many other reasons

[wormgummy019]

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

For me, some country banned bitcoin because they don't know the true value of bitcoin. Or some government don't know that bitcoin can help their economy healthier. Some country banned bitcoin because they are afraid to scammed. They might think that bitcoin has a scam and they are aware of what will happen if they scammed.

[Webetcoins]

Without the government’s supervision, some illegal transactions may be made that may harm the country. Furthermore, in here, the government can’t issue tax to the transactions made

Bitcoin is not illegal but people and especially criminals make it illegal as they use it for a wrong purpose which is against governments so that is the reason governments are appointing but if you look into this reason fiat money is also using for illegal transactions and criminals use that money for wrong purposes. So this issue comes in every field regarding money related systems. It should not be the reason for banning Bitcoin. But governments should adopt Bitcoin in order to boost up economy and save the wasting of huge money on paper notes.

[Visbay]

Bitcoin is not yet accepted by all economies as a medium of exchange and cannot be used for transactions as in fiat money. The market price for bitcoin is unstable and transaction fees are high.

Well to me it does not make any sense that some countries are not aware of something famous and popular like bitcoin, because bitcoin is now very famous and the popularity of bitcoin is increasing more and more with time, for me bitcoin transaction is very fast and it is really affording now expensive at all, so those who are not accepting or banning bitcoin are those who know the power of bitcoin so they are scared of losing the worth of their legal currency because of bitcoin.

[Paractor]

I think it is out of fear. That is all it comes down to in the end.
What they can not control in regulating it then it is a threat to their own local currency and fiat based systems.

[Dondisimo]

Because bitcoin can disrupt the usual economic way of the country, and not every government is ready to take such risks.

[Udrujec]

Bitcoin is too serious a competitor for the currency of any country. So many afraid to enter it in the use on the territory of the country, but I situa that it is inevitable.

[Nabobs Robi]

For our Bitcoin could ruin their nation's economy and this could have a huge impact on the government because they could not control the money from Bitcoin and certainly the banking system could be destroyed. Because they fear the presence of bitcoin, they try as much as possible to destroy bitcoin, one of them by banning it. But it's useless, bitcoin will remain independent with community support.

[Wish 107.5]

Bitcoin is too serious a competitor for the currency of any country. So many afraid to enter it in the use on the territory of the country, but I situa that it is inevitable.

I agree with you. Bitcoin is really good currency that a person could ever have. It is a digital currency with a high value, people support it even though the price is dropping. And I think government officials are threatened so they banned Bitcoin.