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Author Topic: why bitcoin is banned by the government  (Read 1744 times)
Clavulanic
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April 21, 2018, 11:50:18 PM
 #541

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.
I think so too. And, at some point government can't see things any better for them. They only think for themselves than those people who are suffering from their regulations in each society. They don't know how small entrepreneurs live how they make earnings just to eat a day. Banning bitcoin by government has no justice and maybe for them they ban it because it is a good competitor in the market and it's hard for them to compete. No matter what government do,bitcoin is still a bitcoin.


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krampus854
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April 22, 2018, 12:37:07 AM
 #542

Bitcoin is known by some of the government illegal. I am not saying that all of them are saying that bitcoin is not legal. But some of them that's why they are banning it to their country and they are not seeing the future of the country if they have innovated technology with bitcoin.
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April 22, 2018, 12:45:27 AM
 #543

Bitcoin is known by some of the government illegal. I am not saying that all of them are saying that bitcoin is not legal. But some of them that's why they are banning it to their country and they are not seeing the future of the country if they have innovated technology with bitcoin.

Government and central bank ban bitcoin because they cant control it. As we know, bitcoin supply can not be change and central bank always want to control money supply.

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BertoloyBTC
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April 22, 2018, 02:07:06 AM
 #544

Simply for reason that the government have no control over the bitcoin activities ,the government can not benefits the bitcoins because they can not monitor what wad going in this organization thay is why government banned the bitcoin.
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April 22, 2018, 02:15:38 AM
 #545

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

Bitcoin may be a threat for a country, government has no full control over it and the only way they could do is to regulate it. Bitcoin might be use for illegal transaction, through this people may do anything they want anonymously with intervention of anyone even the Government. Bitcoin has decentralized feature and government has nothing to do with it.

it' right. the government has no full control over bitcoin and bitcoin might be use for illegal transaction. every government has own currency, they want their currency exist too.
miltonpogi
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April 22, 2018, 02:46:27 AM
 #546

There are many reasons why government banned bitcoin, and for me the dominant reason about this is that banks fear bitcoin, we all knoe that banks has huge amount on tax for our government thats why they are making way to avoid negative scenario another one is that bitcoin is an electronic money so this one will not usable for all and I am sure that government does not like that.

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April 22, 2018, 03:38:02 AM
 #547

Governments all over the world are attempting to ban bitcoin in one form or another, but they're finding it almost impossible to slow enthusiasm.
The real reason why our Governments are not making Bitcoin a legal mode of Payments and settlements! - Understanding the pain of governments ! and how can they overcome it!
anakkampung17
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April 22, 2018, 03:44:44 AM
 #548

The main reason why Bitcoin is banned by the Government may be a threat to the economic turnaround of a country. And for example will be very influential on financial system and finance in a country will weaken. As a result there will be a negative problem that will divide the economy of a country.
Ulan01
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April 22, 2018, 04:02:24 AM
 #549

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

They may want to ban it, but it is nearly impossible to carry on effective measures to implement that decision. In essence, they just don´t like people with too much economic freedom.
it could be one of the restrictions applied. and perhaps because bitcoin is bad for users and countries, which can throw our money away in an instant. and it is also possible that the government considers free use of bitcoin to pose a threat to the country's economy.
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April 22, 2018, 06:09:51 AM
 #550

 Bitcoin cannot be banned easily in the ultimate sense as it resembles the character of a ballon, pushing it down on one side and it grows on the other side. I think that the government just wants to study the income and outcome of what Bitcoin will be before making a decision but it has already been used worldwide for swift transactions without 3rd party.
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April 22, 2018, 06:16:27 AM
 #551

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
Bitcoin ban in many country due to its decentralised nature  Smiley. Because of this no government can control it production and distribution. Many other factors like criminal activity. Bitcoin support many criminal activity like kidnapping, murdering, childprongraphy, Anti money laundering etc. And it is also use for different online scams. And those criminal activity are done with the help of Bitcoins untraceable money transaction facility. Bitcoin users doesn't pay tax to their government and this thing affect their country financial and economy growth. So these are the some reason behind government ban bitcoin   Smiley

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April 22, 2018, 07:03:19 AM
 #552

Bitcoin is not the only one banned in other country but the cryptocurrency itself...  Some government banned it because it is decentralized... It needs a legalization before it some country banned it... Some people also used it in illegal purpose though
for us it is useful but if it contributes to the world problems we cant change their decision... And also there a lots of related scam happening here....  As a crypto user we've get affected by this because...  Like what happened in China where the government banned the use of cryptocurrency and any related website used by some ICO...
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