why bitcoin is banned by the government

[Sled]

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

Government will not do such action as banning of Bitcoin if they do not have such valid reason to do such thing as that. It is just the government is just trying to keep its people safe and united so if they see that using Bitcoin will be a threat on it although it was highly profitable and beneficial, they will ban it to avoid its people to fight with each other because of being greedy with money.

They are not trying to keep people safe because if they want to keep the people safe then they will not totally ban bitcoin and they will just implement a regulation order where the people under their government will follow for the sake of their safety but totally banning bitcoin just mean to me that they are afraid of the decentralization that the bitcoin has.

[wesbrook2]

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 government ban bitcoin.  Their are some governments allowed their people used bitcoin but in a good way.

[torch2121]

For me the reason why some government ban Bitcoin is because they have no control of it and they will not benefit from it.

[khayecee13]

It may be banned because the government has no way to detect bitcoin transactions which might be taxable and more profitable for the them.
Or it maybe banned because bitcoin maybe used as drug money.

[jbarcenas18]

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

Think of it from the point of view of government officials. Bitcoin is scary because it's anonymous. They don't know what the bitcoin users are paying for. This means that if they legalize it in their country, it's possible that they've legalized a currency that can be used for drug trades, terrorism, weapons, etc.

This is dangerous because the government is not supposed to scare the citizens. Besides those reasons, I don't think there's a strong enough reason to ban bitcoin.

To add with this opinion, the government need to protect and promote for the welfare of people and their functions is to monitor the economy so if they've found out that there's a bad effect to the economy, the government will ban bitcoin but for me, I don't find any reason that bitcoin will be banned by the government.

[Edraket31]

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

Think of it from the point of view of government officials. Bitcoin is scary because it's anonymous. They don't know what the bitcoin users are paying for. This means that if they legalize it in their country, it's possible that they've legalized a currency that can be used for drug trades, terrorism, weapons, etc.

This is dangerous because the government is not supposed to scare the citizens. Besides those reasons, I don't think there's a strong enough reason to ban bitcoin.

To add with this opinion, the government need to protect and promote for the welfare of people and their functions is to monitor the economy so if they've found out that there's a bad effect to the economy, the government will ban bitcoin but for me, I don't find any reason that bitcoin will be banned by the government.

They cannot put their rules and power so what they are doing is to ban bitcoin in their country, this is how easy they would think to disseminate bitcoin which in fact they cannot really control it as it is decentralized, even in China although we all know that bitcoin is banned in their country I don't think that there are no people that can access bitcoin their, I know that there are still many of them.

[Feduk]

It is big problem to control bitcoin money flow.
So government can't execute its direct responsibility to prevent criminality and illegal trade.

[daarul50]

The government's reasons for banning bitcoin are that bitcoin may disrupt the country's economic stability, bitcoin can be detrimental to the state because the government can not benefit from the taxation of a bitcoin transaction, anonymous applied by blockchain technology can be indicative of money laundering and terrorism financing activities. But all the reasons are happening to this day. I am surprised by a government that does not cooperate to accept bitcoin because I think if a government behaves like that then the government does not want to advance technology in terms of economy.

[LoudA__]

For me the reason why some government ban Bitcoin is because they have no control of it and they will not benefit from it.

I think it is one of the reason why the government ban bitcoin, the other one I think is maybe they feel threatened to what it can be done to the economy of that certain country. The government here in our country did not ban bitcoin, they regulate it and warned us what we can do and what other people can do to us, I just hope they do not ban bitcoin since it is easy now to sell bitcoin.

[BumbleBeast27]

The govts' reasons in banning Bitcoin is actually understandable if we take corruption out of the equation since taxes are used to further develop countries.. Without funds from tax flowing, what will they use to help the country grow?

[Barcode_]

There are a few reasons why the governments might not be supporting bitcoin fully, it is much more easier for citizens to escape paying the taxes via bitcoin trading as they could always purchase bitcoin via other ways rather than using legal crypto-currencies exchanges. Secondly, bitcoin is a decentralized digital currency and this would not allow the government to gain control of it and they might see it as a threat to their country economy.

[KingdomHearts]

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.

Not really, I don’t think that’s the case, I believe there is a different reason for that, and whenever they discover it, they try all they can to ban it from their country. If you say it’s because of they can’t control it, then what about gold? I thought gold is being controlled by individuals and not the government. So not being controlled is not the problem.

[Brunus]

To say that bitcoin is banned by the governments, is just a fake news: of course they try to understand what happens: they see that there is the possibility to move big sums of money without any control, and it's clear they don't like it.
But all they can do is to make difficult to change bitcoin in fiat money, as a real ban is actually impossible.

[Coins and Hardwork]

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.

Not really, I don’t think that’s the case, I believe there is a different reason for that, and whenever they discover it, they try all they can to ban it from their country. If you say it’s because of they can’t control it, then what about gold? I thought gold is being controlled by individuals and not the government. So not being controlled is not the problem.

Then if there are more reason, I've read something that bitcoin can be also manipulated right? So if gold is also not in control of the government same as digital currency particularly bitcoin why? Is it the features of Bitcoin like the anonymity and volatility? Because it is the feature that is far from the golds.

[Edrian]

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

Bitcoin possessed an ability to change once counties economic system, that is why some government ban bitcoin. If people invest more in bitcoin rather than fiat their banks will lose some of its profit and it will affect the economic growth of a country, the impact is not that huge but still, it will pinch on their economic system. Bitcoin helps people but not the country itself. some countries are too strict about this, and others use an alternative way to help their economy by putting a tax on bitcoin, but of course, it was painful to some people especially to those who earn a minimum amount of bitcoin.

[jaysabi]

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

There are just some government that wants to ban bitcoin but not all the government in each country. We all know that when we earn bitcoin we dont pay taxes. That's one a good features of bitcoin, you can earn it in easy way. Now, for me, I think why government wants to ban bitcoin because as I have said earlier, it is tax free. It means instead of finding a job, a lot of people would just focus in earning bitcoins rather than look for a job and pay for the taxes of the government.

You're going to find that Bitcoin is not tax free. Most countries already have rules or laws in place that require you to pay tax on earnings in Bitcoin and capital gains on Bitcoin price appreciation. Most countries haven't banned it either. At best, most are agnostic, at worst, a few have outright banned, but they are the vast minority.

[wowbit123]

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.

Not all government here in the world ban bitcoin. Their are country they allowed their people to used bitcoin but in a good way. Because their are people who own bitcoin but they abused to used it. So be responsible.

[imking]

The government prohibits Bitcoin because of there reasons. We all know that bitcoin is capability is very tremendous, and it will be complicated to know how is the person behind that codes or that name. Also, some criminals use bitcoin’s ability to do their illegal work, like selling drugs, scamming site or more. But some country accepts bitcoin because they know what will be the good effect of it.

[semutracing]

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.

yes, the government also does not get taxes from these bitcoin transactions, because the bitcoin value can not be affected by the policies of any government of any country, the government is also worried if bitcoin more and more investors who invest will threaten the existence of conventional money

[sukamasoto]

My government ban bitcoin because it can be use for money laundry attempt which my government very against with them.
As long as I can still trade, I have no worries but let say if my government also legalize bitcoin like Japan and South Korean, I think bitcoin current value will reach $ 15.000 !