why bitcoin is banned by the government

[KobeBriant 24]

This is easy, you just need to understand that they are never going to allow bitcoin or cryptos in there, because they would be allowing their citizens to do whatever they want to.

That is why those who are always regulating bitcoin are always the most important countries, like US and China.

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

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[nugoph2]

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

Because bitcoin is not taxed, and the government does not control it, maybe

[sofi@]

Bitcoin is not actually banned because if it really so surely we can't use our bitcoin such as converting them into fiat and use them in some establishment. What government has on bitcoin so far is the restrictions of its use as we can see we need to convert it first before it can become useful in the market it is only the support of government so that bitcoin will become part of the economy is only the issue and since it is decentralized government find it hard to regulate bitcoin which is the reason why they don't like the idea of using it as a normal currency

[Ranly123]

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

Some countries only protect their land which is the main purpose of implementing rules over cryptocurrency. Knowing that bitcoin can be used as a means to finance crimes like drugs, so in order to prevent this threat, rules must be implemented and one of the measure to be taken is a total ban on cryptocurrency in their country.

[audrey12]

Government are afraid of the capabilities of crypto currencies since it is decentralized making illegal transactions is very easy to do without any traceable evidence left and as we all know corruption is a big issue of a lot of countries and I'm sure those corrupt official saw the potential of bitcoin as a good tool to hide their activities which is the reason why government want to banned bitcoin.

[Eternu]

Governments that want to ban bitcoin are afraid of it, because it could harm country economy and because bitcoin is decentralized. Most of governments do not like bitcoin because bitcoin is decentralized, which mean it belongs to no one and they do not have power over it. But i also agree that bitcoin could help the world, and that it would be stupid to ban bitcoin. Rather than ban, countries should regulate bitcoin. That would benefit country and users, if done properly.

[voltesbit777]

In the first place Bitcoin itself is decentralized while the government in each nations are centralized based system. So no wonder, why some of the government banned it. Because, they are not capable to control bitcoin neither the users of it too. That's why bitcoin don't have any form of tax deduction.

[icol333]

- It's crypto, so it's intangible and untraceable.
- It's decentralized, so the government have no control at all.
- It's powerful, but yet same as the risk in it. The government is trying to "save" their people from losing the game or misusing it (such as losing from trading, use as the moneylaundry, etc)

[sutyThuy]

"This currency is preferred for anonymous and unmanaged payments of any organization or country, so the risk of money laundering," bleeding "of money, or the use of criminal acts WannaCry is a difficult thing to stop. "

[thatlavl]

Contrary to predictions that Bitcoin investors will panic as the government officially bans virtual currency trading, they remain optimistic about the future of the currency.

[D3m1r4wanti]

one of the reasons is that the government feels the loss because bitcoin is not taxed, therefore the government bans bitcoin in various countries

[Findingnemo]

one of the reasons is that the government feels the loss because bitcoin is not taxed, therefore the government bans bitcoin in various countries

May be bitcoin is loading the earnings and income of the government so they don't want to rise up the bitcoin in any side so they trying to ban bitcoin quickly in all places but some countries in the world are trying to make bitcoin legalise to use in all places . That's why bitcoin will be spoke by all people in the world .

[nikenv2212]

It has a positive impact on the existence of bitcoin quite a lot, can grow individual income, reduce unemployment, increase state tax revenue, but considering not all countries have high integrity society, the government is worried that many people misuse the bitcoin with various forms of crime such as corruption, money laundering, terrorism financing, illegal drug transactions, etc. So it is not strange if some governments in various countries decide to ban bitcoin in his country

[josephpogi]

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

I think goverments banned this because they scared about bitcoin and cryptocurrency because bitcoin can replace banks soon or some goverments hate this because they said this is a pyramid scheme or a fraud things so we need to move on  if all goverments will banned this.

[plenumetnormous]

Governments usually develop a protectionist economic policy to preserve and protect their supporters. Actually bitcoin begins to change the game developing the roll of financial instituitions providing a much better gain against them. Still being the main supporters, banks, stock exchanges, etc they are not interested that bitcoin substitute them in this roll. But sooner or later bitcoin will be aclaimed by society and these traditional corporations will try to use it in its favor obsessing its control, a hard fact to be concretized due to BTC be decentralized.

[naglas]

For example Joseph Stiglitz said on Bloomberg TV that cryptocurrencies like Bitcoin should be banned. His commentary is based on analysis saying that the market for Bitcoin is driven mostly by its potential to circumvent government agencies. And also the Bitcoin market will ‘go up, and then come down,’ leaving many investors injured, and therefore it should be banned, adding that it doesn’t serve any ‘socially useful function.’

Here's great web page where all news about countries banning BTC are listed http://bitcoinbans.com/

[yrreg ger]

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

In the fact that bitcoin can be use in illegal transaction, this is a good source of income so that criminal also use this as source of income. Additionally, the government did not get taxes in those people who earn money using bitcoin/crypto currency. In other word, it is not helpful to the government otherwise only in the people who earn.

[nebuch]

There are so many ways why they banned bitcoin on their country. The huge government officials meeting could be held and talk about bitcoin's effect to the future on their country and of course to the people desires and wants. This is a strong decision that form by the officials, business offices, and there investors.
The reasons why they banned btc coz they want to preserve there way of living, the way they do business transactions and maybe they preserve there culture as there own until death.

[Masongrae]

The one reason why I know that the government might banned bitcoin, is crab mentality, its a Filipino term which means a person or people that dont like others who are rising up or progressived. They are trying to pull them down instead of being supportive in other's achivements.

[Flor1982]

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

The most common reason by these countries to not to adopt bitcoin is they are afraid that the digital currencies will might ruin their country that it might use in illegal activities like money laundering, smuggling, drugs and even scam investments. But for me, it can be prevented if it will just regulate it very carefully so that bitcoin can be given a chance to help their economy to grow and change their people lives towards prosperity.