why bitcoin is banned by the government

[edi-mf]

It's not banned, why we keep spreading this nonsense?

[Cryptophorus Columbus]

Of course governments and banks didn't understand too much about bitcoin and didn't realize its potential, and now they start to react.
Actually, they can really ban bitcoin, they only can try to make their use more difficult.
But it will be an useless war.

[Nana_Marini]

Every state has the wisdom for the people and the people must respect and follow the rule in the government. I believe that the government give the best way for the people

[Cryptophorus Columbus]

It's not banned, why we keep spreading this nonsense?

Yes, in some country is. Ecuador, for example. And in some country will be "banned" soon. In USA - freedom land... - you can't participate to ICO.
And so on- Check, and you will see,

[Lily04]

Government can not ban Bitcoin,because it's not under their control. So they are angry and threatening to ban Bitcoin but that can never be possible.

[Nanot]

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

Since bitcoin is a one big controvercial thing in the world they are many things that involves on it even it is a good and bad news of it. The reason on that why government has banned bitcoin because it affects the workd economical states mostly a country economy. Bitcoin has banned because it can be possibly cover the economy of a one country since bitcoin price was higher than any currencies in the world so that it affects the small countries that have a low price of currency so that it might cover it that thier money can lose more to have a one bitcoin

[dulce dd121990]

The one reason is that bitcoin can be used in illegal transactions. This bitcoin currency will be used in trading illegal drugs, firearms and others. This can be used also in illegal gambling.

[pocketfullofpoke]

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

That's because bitcoin is a threat to their economy as well as people who are engaged in cryptocurrencies can earn profit without being taxed by the government. Government wants money from people and so they banned cryptos for their own good in my own understanding.

[shinchan123]

I think for the obvious reason that the government has no control over a decentralized cryptocurrency. Regulating or monitoring all transactions is merely impossible; and they can’t really shut it down because there is no central location to make that possible. Hence the best they could do is ban cryptocurrency and implement penalty for possible offenders.

[QueenRoyale]

Maybe because they cant get a hold of it or they wont be able to stop it just because they want because the will of people are unstoppable.

[James_Spider501]

The one reason is that bitcoin can be utilized as a part of unlawful exchanges. This bitcoin cash will be utilized as a part of exchanging unlawful medications, guns and others. This can be utilized additionally in unlawful betting.

[genesis53]

The government banned bitcoin because they don't have the power to control it. Because of its anonymity bitcoin can easily be used for tax evasion. Some countries believe that bitcoin and other virtual currencies are tools for criminal activities such as money laundering, drug deals, smuggling and illegal fundraising.

[mprepkiah]

perhaps because the state can not monitor the movement of bitcoin belonging to its citizens then they fear this transaction will be used as illegal transactions such as drugs or prostitution and even terrorism

[dvillier]

I think, the motivation behind why the legislature restricted bitcoins is on the grounds that they essentially can't take control over it. Notwithstanding forcing assessments and laws covering bitcoins is to some degree difficult to accomplish in light of the many-sided quality and secrecy of the clients and financial specialists . And furthermore, it is being focused on and utilized by corrupt individual laundering cash and utilizing it in wrongdoing strategies.

[antsin]

It’s actually a slow progress. The sooner they realise that they can’t stop it, it’s better! This year is going to be an eye opener unless the whole crypto craze dies again & then bounces back.  

[mOgliE]

Hi,

Bitcoin is banned by some government...

For official reasons:
1- it is used for illegal activities
2- it cannot be taxed
3- the fact that it is anonymous is a threat
4- it is too volatile anyway to be used as a currency

For unofficial reasons as well:
1- it is uncontrolable
2- it is designed as a new system allowing people to get rid of any control authority
3- the technology changes quickly, therefore it would be hard to have accurate regulations
4- it is growing and becoming a real economic community

That's a short summary. I guess it is pretty accurate!

[fulmetal08larz]

The reason behind banning bitcoin is because it is giving the people a freedom to control their money and this is one of the purpose of bitcoin - to eliminate the middleman. Also, the government does not want to lose control of its own people to avoid chaos.

[daarul50]

No one party can forbid anyone to use bitcoin including a country because if it happens then the country I think has violated the rights of someone who has been protected by human rights about freedom of choice. People around the world are free to use bitcoin because in fact bitcoin is not a currency but bitcoin is a digital asset that has a price so many people are revealing that bitcoin is the digital currency. Various info about bitcoin bidders by some countries is a natural thing because governments in their respective countries have regulation on the legal means of transactions in their country about currency but it can not make users stop using bitcoin just like that.

[Andrej Peiboski]

The one reason is that bitcoin can be utilized as a part of unlawful exchanges. This bitcoin cash will be utilized as a part of exchanging unlawful medications, guns and others. This can be utilized additionally in unlawful betting.

This is just a pretext to justify the war against bitcoin: of course it can be use to buy drugs, to finance terrorism and so on, but this is true - even more - for any kind of currency.
The true is that bitcoin is something difficult to control and banks and governments try to react using the "illegal argument" just to make transaction more difficult.

[soenaderecho10]

The one reason is that bitcoin can be utilized as a part of unlawful exchanges. This bitcoin cash will be utilized as a part of exchanging unlawful medications, guns and others. This can be utilized additionally in unlawful betting.

This is just a pretext to justify the war against bitcoin: of course it can be use to buy drugs, to finance terrorism and so on, but this is true - even more - for any kind of currency.
The true is that bitcoin is something difficult to control and banks and governments try to react using the "illegal argument" just to make transaction more difficult.

I think because bitcoin is not have a tax so the government like to ban the bitcoin and bitcoin is very big value and people invest a bitcoin and the government did not get a tax if the people get a money.