why bitcoin is banned by the government

[merlyn22]

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

not all country are banning bitcoins but they are some goverment controlling bitcoins because bitcoin is decentralized government has no control of it. i also think that it may affect some business like banking. instead of saving for local money people exchange their money into to bitcoins which may cause bankraft . here in my country goverment adopting bitcoins but want to put tax on it

[1715120001]

1715120001

[Zuilhsa]

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 user anonymity is the main thing as there no central authority to control it, even though it exist only in online it is exchangeable for goods or service, the governments also fear of user confidentiality that this currencies can be used for money laundering, drug dealing, weapons or tax evasion. Also when people find ease to use bitcoin the demand for banks will be reduced thus shaking the economy of the country, well all these makes governments not to legalize bitcoin.

[princesspoppy]

I think the reason why bitcoin is being banned by governments is because they feel threatened for bitcoins being decentralized. It only means that government can't control it and I think this the reason why they ban bitcoin. If people keeps investing in bitcoin, government would not be able to control these people, know their transactions, if they're doing illegal things or what.

[CuteBaby123]

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 also dont understand the logic of the government officials why they need to ban bitcoin when actually it is helping their people to have a good source of income. The main reason I can see why they are doing this is because of tax and the peoples interest. First, they cannot put on tax to bitcoin. Second, people are more engage in working in bitcoin than working for their government.

[Boov]

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

not all country are banning bitcoins but they are some goverment controlling bitcoins because bitcoin is decentralized government has no control of it. i also think that it may affect some business like banking. instead of saving for local money people exchange their money into to bitcoins which may cause bankraft . here in my country goverment adopting bitcoins but want to put tax on it

Well, There are some governments that Banned bitcoin because it is not under the laws of other government. Bitcoin is not also paying and receiving taxes for any transaction so that Government will not benefited on it. Bitcoin can also cause money laundering due to its anonymity that ables the user to tranfer a lot and huge amount of money without knowing the identity of the receiver and the sender.

[villain24]

One of the reason is they want to regulate bitcoin. And since they cannot do that entirely, one of their option is to ban any bitcoin transaction. But it very hard to implement that policy.

[jose111]

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 that is not a good idea because I thought bitcoin helps a lot of people in the community that's why the government must embrace and love bitcoin. There is no reason to banned bitcoin. I think that the government need to study hard regarding this and kindly consider a lot of people in the community that using bitcoin.

[jhoyette6177]

some government who tries to ban bitcoin are perhaps afraid that their people will not be working for their government anymore (that is, by paying taxes). because people earn easily without hard labor in doing bitcoin, government see that this could change the business structure of the country (people doing work in front of each own laptops). and by that no established big businesses would be happy about. you see, its all politics and business, because those who basically run the government are mostly if not all, owns big businesses in their respective country. if this will be the case, then who will work for these oligarchs anymore?

[fiomcorka]

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

Their are so many reasons like this first one Bitcoin is decentralized currency,  which means nobody controls it. In so many countries has that fear.  Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin.  people  use Bitcoin  for money laundering. They convert their black money into white .

[Dewao]

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

Their are so many reasons like this first one Bitcoin is decentralized currency,  which means nobody controls it. In so many countries has that fear.  Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin.  people  use Bitcoin  for money laundering. They convert their black money into white .

Everything you said is right, bitcoin is decentralized so nobody control it ,that's why no one can complaint to any one if they lost their money everytime they invest in bitcoin.

[FairWin.Tech]

As some of you have rightly said, Bitcoin can not be controlled which means corrupt politicians can`t keep the people who work on it down. Maybe the stupid functionaries do not understand what it is and try to destroy it out of envy.

[chrisculanag]

Why , because bitcoin is tax free and the government need a tax to improve their territory .All countries depend on people's taxes, so the country is opposed to the use of bitcoins. There are so many wealthy people hiding their wealth by bitcoin, to avoid taxes for the country. This is one reason why many countries do not want bitcoin.

[AmazingDynamo]

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

Their are so many reasons like this first one Bitcoin is decentralized currency,  which means nobody controls it. In so many countries has that fear.  Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin.  people  use Bitcoin  for money laundering. They convert their black money into white .

Everything you said is right, bitcoin is decentralized so nobody control it ,that's why no one can complaint to any one if they lost their money everytime they invest in bitcoin.

since no one can control it they are trying to regulate bitcoin because it can lead to some sort of illegal activity which it can be a medium of transferring illegal money without no trace and they also bitcoin does not pay taxes .

[yusupjatigumilar]

Because governments in some countries think bitcoin can be used as a medium to commit unlawful acts, such as money laundering, terrorist financing, drug purchases, etc. and may also be supported by anonymous bitcoin properties so the government can not monitor where and where the bitcoin is flowing

[MattMurdockxDD]

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

Probably they are in fear of money laundering. Since most of the countries has no regulations yet when it comes to crypto currency, then the opportunity for the black market people to use this is high. Well it happened before in some countries already so the chances of it happening again would be huge. Well this is just my opinion though.

[swordling143]

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 the government sees bitcoin as a threat to the economy and also the fact that bitcoin has no tax yet affects how the government earns or benefits from bitcoin. Besides, not all countries are discouraging the use of bitcoin, there are still other countries that are fond of bitcoin their people's use of bitcoin because of ease in life.

[Leeeeeya]

It is all because they think that bitcoin will not be in their control and they can't handle it being a threat so the best thing they can do is it being banned.

[mason2002]

I think for some other country they are banned it because of the anonymity and decentralized use of bitcoin no owner so if someone having issue in bitcoin no one could report into the police to investigate ..

[Ngehek]

Because the government is afraid that Indonesian entrepreneurs prefer bitcoin to invest their money, thus reducing the rupiah exchange rate against foreign currency

[sizzle729]

I think, the reason why the government banned bitcoins is because they simply cannot take control over it.  Even imposing taxes and laws covering bitcoins is somewhat impossible to achieve beacause of the complexity and anonimity of the users and investors . And also, it is being targeted and used by unscrupulous individual  laundering money and using it in crime tactics.