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Author Topic: why bitcoin is banned by the government  (Read 1744 times)
Mbah Djoko
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April 18, 2018, 04:16:01 PM
 #521

This is a natural thing because many governments think bitcoin is anonymous so the government is worried about bitcoin being used as a place for illegal transactions and money laundering.

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April 19, 2018, 09:22:26 AM
 #522

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh
There are many reasons responsible for the ban of cryptocurrencies. First being, the anonymous nature of cryptocurrencies enables it to be used for illegal purposes like purchase and sale of prohibited weapons or drugs and terrorism and money laundering activities. Bitcoins are self-governed and decentralized. This will make monitoring by government impossible which puts a great threat to the government authorities.
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April 19, 2018, 09:33:16 AM
 #523

the government forbids bitcoin because they fear bitcoin will be used for crime and bitcoin can make its users lose money and they can not do anything and can not control bitcoin
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April 19, 2018, 09:50:50 AM
 #524

Bitcoin banned by government. It because they heard lot of scam in bitcoin. Scam make the bitcoin reputation lose they dont think that if bitcoin will gone because no body tust there source of income will gone. Thats why we should take care of bitcoin before it too late. And also goverment didnt understand how bitcoin work.

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April 19, 2018, 10:44:39 AM
 #525

Bitcoin is banned by the government because of desire to control financial flows. Cryptocurrency transactions are safe and anonymous and can be used for illegal purposes. Governments can't allow this. That's why they make different legislative procedures to be able to control cryptocurrencies.

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April 19, 2018, 11:02:21 AM
 #526

Government is all for a country as a leader.Government can strict or force anyone to maintain his or her rules for country.Many government hate Bitcoin.May be they think that the economic slowdown will be happened for Bitcoin and the money will reserve in this.Many crime will happen.I think those are enough to understand this.That's why many government banned Bitcoin probably.

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April 19, 2018, 12:29:16 PM
 #527

Bitcoin is an independent and autonomous it doesn't need of third party,Government can ban it but cant stop the Bitcoin. Government want to generate revenue from different sources and Bitcoin cant controlled buy the government and government have threat that Bitcoin will encourage the illegal financial activities.

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April 19, 2018, 12:43:04 PM
 #528

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh
I think its not about they banned bitcoin but they are not agree that bitcoin will be part of government because of its price that anytime the value will increase and theres a moment that it decrease which not consistent.

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April 19, 2018, 01:21:18 PM
 #529

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh
indeed the bitcoin is changing our lives, because with the bitcoin it is very helpful to all of us. but many people are also prohibiting the bitcoin was outstanding. because many people are not familiar with bitcoin and negative thinking first.

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April 19, 2018, 01:30:21 PM
 #530

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh
In my opinion just simply because governmnet cannot control it so they had no choice but to forbid bitcoin. Besides, bitcoin is also have been used in illegal activities either online or offline such as drug transaction and even scamming, because of this evil deed bitcoin became ngative in peolpe's eye and become notorious. They didn't know what bitcoin can do hence, for us just keep sharing your positive experience upon this cryptoworld.

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April 19, 2018, 01:36:55 PM
 #531

the government forbids bitcoin because they fear bitcoin will be used for crime and bitcoin can make its users lose money and they can not do anything and can not control bitcoin

That’s because bitcoin’s purpose is misunderstood by these countries who feel like their countries security is put in danger and that bitcoin has believed to cripple their economy. This is one of the reasons why realizing bitcoin’s purpose is hard to put it into reality.

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April 19, 2018, 02:21:04 PM
 #532

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh
I guess bitcoin is banned by some of the government in the world because it seems that they have nothing to claim into it they don't even handle it. No control in short meaning to say if the government have nothing to do in something or in bitcoin they will ban it.

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April 19, 2018, 02:23:23 PM
 #533

is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz Grin Huh

The only government who will going to that only is the country who doesn't know everything about the deepest content of bitcoin like its features. And what it can give in the future. If this is not really good(bitcoin) why other country like Japan government decided to regulate bitcoin to their nation? its just an example Smiley


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April 20, 2018, 06:45:25 PM
 #534

There are very few countries which have banned Bitcoin. The major reasons are that Bitcoin is decentralized which will snatch the power of financial control from government and give it to the public. Further, Bitcoin can be used for many illegal purposes like terrorism, money laundering and tax evasions. Also, cyber crimes have increased due to cryptocurrencies.

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April 21, 2018, 05:13:31 PM
 #535

The government doesn't want to have an distraction for their leadership in their country because if they will let a currency that is decentralized to take over their country then they will be on a risky situation because the people will not use the fiat more often
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April 21, 2018, 05:38:03 PM
 #536

Bitcoin is banned by some government because their are so many risk involved. And bitcoin is technical.
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April 21, 2018, 09:20:29 PM
 #537

Each country has its own legal considerations of bitcoin and cryptocurrency. Some classify bitcoin as money and legal, some consider bitcoin as either legal or illegal.
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April 21, 2018, 10:11:53 PM
 #538

Bitcoin prohibited by the government may be caused by the very fluctuating bitcoin price and the security is very vulnerable for the retas by the irresponsible parties therefore the government is afraid of losses that will be borne by the community and again bitcoin in banned For fear of not applying the currency which has been used by the country

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April 21, 2018, 10:58:45 PM
 #539

The governments ban bitcoin since there are perceived threats such as
1.domestic policy
2.tax compliance
3.monetary supply controls
4.special interests
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April 21, 2018, 11:19:26 PM
 #540

The government doesn't want to have an distraction for their leadership in their country because if they will let a currency that is decentralized to take over their country then they will be on a risky situation because the people will not use the fiat more often
I think the only reason why government doesn't recognize bitcoin is because it is a decentralized form of monetary system and its hard for them to interfere, so the only they can attack bitcoin is by making block propaganda to distroy the image of bitcoin but banning is very hard for them to do.

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