why bitcoin is banned by the government

[jeni99]

 think BTC is a digital currency that has no authoritarian or agency that makes it unaccountable and will also affect the economy of a country.

[millionaireshs]

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 there are two major reasons why the government want to banned bitcoin, this can be:
They are just concern to their countrymen because of the possible risk of Bitcoin; or
Because it has no tax.
Base on my observation, even though a certain thing brings risks as long as it has tax it was justifiable.
Example: cigarette

[ghost424]

There may be some governments that is banning bitcoin but maybe because it is the fact that they are not yet knowledgeable how Cryptocurrency works and how would it help their own economy and how would jobless persons inside their country can still gain money to provide for their family. They might be also scared of the fact that they might get overthrown once the owner of bitcoin becomes uncontrollable.

[sulendra12]

Bitcoin is a digital currency and most of countries are banning digital currency cuz it would be a rival for physical currency and need to ban. Also with the unstable price of Bitcoin, government want to protect their people to not invest on them. It's win to win actually but still smart people are there and they can't lose that money easily.

[davinchi]

I think but im not sure about this but i think its because they cany put taxes in btc

I’ve asked myself same question before, and when I couldn’t figure out an answer to it, I decided to research on Google to really understand why. First I searched on why China banned Bitcoin, and according to the source, it had to do with their market, but I didn’t understand it much. So I’m guessing for other countries, it also has to do with same thing.

[vuvuvu1]

Where it is not specified Bitcoin is money or goods and it is not specified Bitcoin is a means of payment is prohibited, the payment through Bitcoin completely outside the authority of the State Bank.

[Cryptodux]

Bitcoin is something that at the the beginning government didn't understand, and now - as they can't control it - they try to ban.
But I don't think they have a chance to succeed.

[ashlyvash00]

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 other government didnt open minded on bitcoin.they always thinking where is bitcoin from , how did bitcoin grow and how bitcoin profitable.Thats why they think its a scam in our country there also say that bitcoin is scam even in a televesion.But they know the truth maybe because its hard to understand bitcoin if you didnt read this forum or read some article and a help of friend to understand bitcoin

[yohaneshs]

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

We know every country has a currency with the central bank as a centralized. they can control the price, volumes, supply and demand. but bitcoin and crypto currency is decentralized so nobody can control the price and volume supply. at the point, the risk is too high for economic because government can't monitoring crypto currency and the user.

[nastaverba]

Because it is more difficult to control the population through cryptocurrencies like Bitcoin 

[fara_buduk]

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

We know every country has a currency with the central bank as a centralized. they can control the price, volumes, supply and demand. but bitcoin and crypto currency is decentralized so nobody can control the price and volume supply. at the point, the risk is too high for economic because government can't monitoring crypto currency and the user.

Can really say that bitcoin is a crypto currency whose position can not be influenced by state circumstances because its scope is more universal and liberal in currency value so many countries are afraid of the currency of the country affected and there is a crisis of exchange.

[Senkuli]

bitcoin is growing very fast and has been popular in many parts of the world, many people are interested in investing in it, but there are still many investors who are constrained by the rules of prohibiting the use of bitcoin by some state governments.
in my opinion, although bitcoin is very popular right now, there are still many communities or some state governments that have not understood all about bitcoin, they have not set a standard rule about the use of bitcoin that has decentralized system, and they are still worried about the bitcoin investment system and its security aspect for the people of their country who want to invest and use it.
the governments of the country still need time to deepen and learn all the bitcoin investment systems and that causes some governments to ban the use of bitcoins or other crypto currencies until they have set the standard rules on the use of bitcoins and their investments.

[sheryl26]

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 do not know the exact reason but in my opinion the government are banning it because they are not gaining on it because bitcoins have no taxes just fees and those are the money they are not gonna handle. And they cannot trace the transaction so the illegal things are being committed easily. And i think bitcoins and all the other cryptocurrency are banned in china last year because of a lots of complaints about the scam and the people cannot trace the middle man of bitcoins because there is no one source bitcoins are independent.

[Scavagers]

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 have an idea but I am not sure if these are the primary reasons. We know that bitcoin is easy to use in transaction,bitcoin is anonymous, you do not even have to reveal your personal info to do such transactions and it can be used in illegal activities like selling drugs and other illegal transactions. another reason i have in mind is it is decentralized, meaning the government has no control to it so they banned it because they see it as a threat, also if am correct, bitcoin is not taxable so government dont benefit from it.

[Leeeeeya]

Bitcoin is becoming popular and many people are interested on it and some of those are now using it and that it, the growing family of bitcoin will not be handled by the government and will never so they are just going to ban it.

[Sled]

They banned bitcoin because they are afraid of decentralization because they think that the people will just be in favor of the decentralization and use bitcoin because of the freedom that bitcoin offers to the people who uses it while the government are still boxing the people because of the centralized currency that is backed by nothing.

[Pjoh ie]

Virtual money that is popular in some countries, Bitcoin, considered to have a high risk. Bank Indonesia (BI) has also banned the use of Bitcoin as a legal means of payment in Indonesia. Not explained in detail why Bitcoin is prohibited to be a means of payment in Indonesia. However, the central bank cautioned because the use of virtual money like Bitcoin is very risky and BI is not responsible. In some countries like the United States, the use of Bitcoin as a means of payment to buy goods or services is allowed or legal. But later some other countries such as China, prohibit the use of Bitcoin.

[gribble]

I think bitcoin is banned by the government due to they can not be regulation of bitcoin, it is decentralize of bitcoin that makes it special in the heart of community, and the government just think about the bad things of bitcoin, they don't think about the technology of blockchain and any other related it, just some government of countries that can see the big chance of bitcoin and all of about digital coins.

[biskitop]

because there have been cases of illegal weapons purchases using bitcoin, drugs transactions using bitcoin, and prone to money laundering. those things that might make the government a bit worried and eventually want to ban bitcoin.

[jovs]

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

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.

Perhaps, Government that wants to ban bitcoin operation in their country because of its decentralized property, they will not able to monitor the proper implementation of tax on individuals earning from bitcoin. But correction and regulation on bitcoin is possible, depending on how the government will put necessary studies on how to implement taxation on bitcoin' s earner. If they only look at the brighter side of bitcoin in the economy. perhaps they will try to regulate it instead of banning it.