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Why do some government ban bitcoin?
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Topic: Why do some government ban bitcoin? (Read 12562 times)
cryptofeel
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Re: Why do some government ban bitcoin?
April 17, 2018, 10:38:03 PM
#1501
Its clear that some countries ban bitcoin because they either don't understand it or they don't want anything thing to disrupt the present status quo. there may be officials profiteering somewhere.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6
confirmations
) will be very difficult to remove.
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Amakwah
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Re: Why do some government ban bitcoin?
April 17, 2018, 10:59:44 PM
#1502
The government banned bitcoin because the government considers bitcoin as a tool used by terrorists to conduct banking transactions unnoticed by the government and with bitcoin as well as money circulation as a means of payment will decrease.
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Re: Why do some government ban bitcoin?
April 18, 2018, 01:46:28 AM
#1503
Quote from: RKSummer on April 17, 2018, 10:33:12 PM
Quote from: TitanGEL on September 08, 2017, 04:59:45 AM
The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it. For them, bitcoin has bad effects.
Some government ban bitcoin because they think that bitcoin is a threat to their economic financial stability, because they don't have any control in it. And they think that bitcoin is used in doing illegal activities, such as money laundering and buying drugs.
Recently, Bitcoin was used as a cryptocurrency can helps the investor earn many profit to attract the new investor invest in scam coin.
The owner of these scam coins spread some promises, as x5 x10 x100 after complete crowdsale and list on exchange.
Some scam projects said ICO is simply a part of the road to IPO while the fact is ICO = IPO unverified through blockchain. (Ifan, a fake project said these words to take advantage ICO to scam the investor)
Evem, some projects promised profits every month can up to 50% through lending, lol
Therefore, when the government can not manage the ICO market, they can only ban all things related to cryptocurrency in order to limit the likelihood of similar occurrences.
rabs
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Re: Why do some government ban bitcoin?
April 18, 2018, 02:59:31 AM
#1504
Actually government have thereat that Bitcoin will badly effect the financial system of the country but i think it is not a reality Bitcoin have positive impact on country economy system. Government big fear is that Bitcoin have own platform and based blockchain which is not possible for government to regulate or analyze the exact calculation of Bitcoin transactions.
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