Why do some government ban bitcoin?

[Tusher1234]

In some countries government ban bitcoin because some people use bitcoin in some illegal business. And many people don't know about bitcoin properly in some countries.

[Ikbal Naiem]

Government is a set of rules and regulation . To operate a country government must maintain all rules. Government ban bitcoin because it is out of control .Especially south Asia which is technologically behind such as Nepal,Butan, Bangladesh most of people  in those country don't know about bitcoin and those people know it they use it illegal way.

[benhill]

For any Government to ban Bicoin it will be somehow impossible because it is decentralized,they can try to baning key players in their country i.e cryptocurrency exchanges,but to ban Bitcoin investment it can not be possible. Some government ban bitcoin because the expected returns on  Bitcoin to the Government cover are not forth coming and they believe that people may use it for moneylundring.

[fishball]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

It is not because it is an illegal thing but because of the fact that the government can not control this kind of transaction. Which means, the government can not take something from it so they ban it.

[dupee419]

Governments ban bitcoin because of the control, they cannot simply control it, people earn while they cannot control and benefit from it, this is one of the reasons whh they are banning bitcoin, and another reason also is that they cannot cover bitcoin and other cryptos through the taxes.

[TRON0824]

because some of the banks is controled by the government , they are afraid if bitcoin kill paper currency . and they afraid that many people invest in digital currency than to save it from banks .

[peymanrmi]

They ban it because they can't control it.
countries with weak economic try to ban it because of some great amount of money that they could use (really waste) in their economic used in crypto market
and it is not a good phenomenon for them

[Larrycool]

The major reason is because, Bitcoin is uncontrollable, it can not be taxed, it is peer-to-peer no governing party in between, it is untraceable and the list goes on. Governments must have control over the things that happen in their territory, whereas Bitcoin is not allowing them to have this privilege and have the control they want over it.

[dimonstration]

The reason why some government ban bitcoin because its question the legality of the business, we are all familiar
that this kind of business deals through technology and some of the country cant accept because they are lack of technology.

all countries that ban bitcoin for have their own reason why they have to do this for and we feel so blessed when in our country we must have to feel all support with our country to make bitcoin to transact for with freedom unlike in some country.

[Kildin11]

bitcoin is the personification of the blockade. blockade is a new technology that is not clear how to regulate and how to use it. The state can not reorganize quickly, it is a sluggish system.

[Mwalshe89]

Bitcoins and other virtual currencies are especially worrisome to the authorities, because such payments are extremely difficult to track - transactions are negotiated between buyers and sellers who may not even know each other's names. No banks and payment systems record their personal data and do not issue at the request of law enforcement agencies.

[King money]

The government does not actually prohibit the circulation of Bitcoin or other digital currencies. But they only forbid Bitcoin to be used as currency in their respective countries. That is all

I think even though I'm a fan, I can understand the discussion. But I hope this will end in the promotion of energy-saving mining approaches (eg through solar energy) rather than general restrictions / restrictions.
I personally expect some upcoming discussions in Europe soon due to energy consumption due to mining. Especially from the German-French axis we can get some resistance / pressure.

[Udrujec]

The government prohibits cryptocurrencies, acting in their own interests, trying to get profit from it. But they are wrong, and soon every state will have to legalize bitcoin, so as not to lag behind in the economy.

[CuteBaby123]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

Some governments are banning or banned bitcoin because they simply cannot regulate or control it. Bitcoin is virtual currency and provides financial freedom, decentralization and privacy to its users. These things are opposites of the governments policy thats why they are trying to banned bitcoin.

[imagine313]

I think this has happened in the past, crypyocurrency has been banned in China but after some time the government legalized it again. This is just a matter of internal regulation in the country, hopefully it will be over soon and cryptocurrency in china can go on as before

[Hopeful2017]

China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective

Governments that banned bitcoin are those dont want there people to grow financially. These governments cannot take control of bitcoin, and they cannot put taxes into it, the reasons why they simpy banned bitcoin. Likewise, these governments are afraid that bitcoin may take over their countries source of manpower because more and more people are choosing bitcoin job rather than a physical job.

[whaawh]

I think this has happened in the past, crypyocurrency has been banned in China but after some time the government legalized it again. This is just a matter of internal regulation in the country, hopefully it will be over soon and cryptocurrency in china can go on as before

The Chinese government has always used every opportunity to earn money for the country's economy. All came true desire for free Chinese goods almost filled all the markets of different countries, so the Chinese government supported its economy. It also happens with a crypto currency.

[dominional]

Some governments of some nation has banned bitcoin because they are not generating income from bitcome and tax is not generated from bitcoin therefore that nation bitcoin cannot be introduce because of the government law

[dodz031718]

Some countries really ban bitcoin and they can do something to prevent people from using it publicly for example.They do not benefit from it so they ask for an exchange to stop receiving merchants from the area and possibly prevent the local store from receiving bitcoin.Users can only switch to a decentralized trading platform and avoid the ban.Bitcoin is decentralized and can not be easily stopped.

[MUSFIKAR]

Ya else rang say in this thread. I think they forbid it because they are afraid. This technology goes beyond their own national currency. And what do you do when the government itself runs out of money and the government bans Bitcoin because it represents a major threat to their financial security.