Why do some government ban bitcoin?

[Chrisjay]

Bitcoin ban by government it because there are  lot of news of scamming and triking people on bitcoin. But they didnt know that not all bitcoin user or investor do that.

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[Emjohn.]

They ban bitcoin maybe because it's something that can't be controlled like banks. It is possible also that they know that there are illegal transactions made using bitcoin so they don't like bitcoin.

[DisWhale]

These issues arising from the governments is geared towards one thing; the governments want to control and have the bigger share of the blockchain, which is not possible. Ones KYCs are well implemented in all transactions, the governments will not have any claims against Bitcoin again.

[chengyinoing01]

The government has the right to print money, so it can make money out of thin air. The amount of money that has been printed out on the market is that the money is worthless, it's devalued. The most striking feature is the rise in prices.

Bitcoin is a natural enemy of the government. In addition to speculators, the faithful are mostly liberals and anarchists.

[normanderecho]

These issues arising from the governments is geared towards one thing; the governments want to control and have the bigger share of the blockchain, which is not possible. Ones KYCs are well implemented in all transactions, the governments will not have any claims against Bitcoin again.

I think government ban bitcoin because government scared bitcoin will popular and replace the currency in evey country and the government did not get a tax so that the country will not improve because did not have a money to pay to work on government.bitcoin is very useful in every people so that people find other ways to earn a bitcoin if the bitcoin will ban the government.

[clairdelune]

Maybe it's because they do not believe in bitcoin, they do not see how they can earn from it. They think that using bitcoin is illegal and for me government cannot ban the bitcoin because many people are using bitcoin and also other people are fighting for bitcoin they are telling positive about bitcoin so others will believe on bitcoin and they will already use it even the price of the bitcoin is flactuating many are believing and using it.

[Beldon]

Some governments ban Bitcoin because Bitcoin has had a devastating effect on its citizens who have joined. Perhaps the Government is worried that Bitcoin is being used in illegal matters and the government does not want to take much risk with this. Would not want if its citizens become loss with Bitcoin due to the very fluctuating nature of Bitcoin. I think a lot of reasons the government forbids Bitcoin in their respective countries.

[JRDuran]

I think the government blocking the bitcoin is also thinking of the country as well because they think bitcoin only disrupts the economy. And in the end they do not dare to take risks that will disrupt the economy or finance of the country.

I think such responsed occurs not because of the lack of understanding, I believe they know it fully, the very reason of banning btc is because they can't find a way to control it.

[bcoin01]

Money transfers made with Bitcoin and other coins can not be tracked. The governments are against it because it is not clear who they are going to. Terrorist organizations are also believed to have transferred money in this way. Because the crypto money market is blockchain-based, they are laundering money. This is also the most important reason for governments.

[Hulh]

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

I think one reason why bitcoin is being ban by some government in some countries is because, it can be used in some illegal activities like buying illegal guns, drugs, hiring a hitman and many more. Because of that capability of bitcoin, the crime rate of a certain country may increase thats why some government are against it.

Government ban bitcoin because they dont hold on it. As this moment ,government cannot control bitcoin. Bitcoin is also currency only that it is digital. They might afraid that cryptocurrency has a big impact on the government , so the only solution they think to stop any possible challenge they encounter is to ban bitcoin.

[filtyfrank251]

Some governments banned bitcoins because they did not really understand bitcoin. They do not know the benefits that bitcoin brings to the cryptocurrency market. Most undeveloped countries are not using bitcoin. I think they should join the cryptocurrency market in order to grow even further.

[Sandeep24]

They believe Bitcoin will be take place their local currency but I know Bitcoin is one of the most powerful crypocurrency in the world and it would be accepted by every country of the world.

[Ismat Morshed]

Bitcoin ban by government it because there are  lot of news of scamming and triking people on bitcoin..It's something that can't be controlled like banks.  

[mudasarali43]

I think some country government ban bitcoin because of it is decentralized currency and they ban it because they can't control it and because of some other reasons some illegal activities have done with bitcoin that is why some government bitcoin,

[Welhell]

Governments ban it because they can not control it. They are trying to get rid of it in any way they can, when there is something they can not manage. Now, the only thing they can do: ''ban''.

[BillyTalent]

They greatly change and spoil the entire established economy of any country, because with the arrival of a new coin and even more so cryptocurrency, will begin the problems associated with the economy.

[ogini]

They say it is illegal because it has no approval by the government, to this reason they consider it fraudulent and closing account of investors and exchange operating in some countries

[snuggleGuru]

Fear is the mind killer -Frank Herbert   

[Majharul Saiif]

There are many country's government already accepted the Bitcoin as their currency.On the other hand, some government ban this.In my opinion,I want to say against this matter that in this forum government can't handle this because this forum totally handled by forum staff and moderator.Forum don't give any tax or vat for using this.That's why government don't get anything from it.Its transaction system is too secured and government can't track this.For those reasons,some government ban Bitcoin.

[mayukus4life]

Some governments are banning bitcoin because they are scared when it goes mainstream it might affect their currencies, though some are also worried that it might be a way of moving illegal funds or funding terrorism since funds cannot be traced. They have different concerns but I think with regulations bitcoin and other altcoins should be allowed.