why bitcoin is banned by the government

[Magister Magus]

Out of bombastic declaration, these are not real bans: of course they try to scare the population, and they can make difficult (and may be illegal) to exchange bitcoin with real money.
But to its very nature, bitcoin can't be controlled, and any try in this sense will be easily bypassed.

List of Countries that have Banned Bitcoin
Thailand– The Thai treasure banned bitcoin outright.
Chinap– The Chinese treasure enacted policies on bitcoin that pretty much restricted the use of the virtual currency.
Taiwan – The country’s Financial Supervisory Commission (FSC) blocked efforts to install first-bitcoin-atm-installed-bostons-south-station Bitcoin ATMs in the country and restricted its use as an alternate currency.
India – The Indian’s central bank published a lengthly document against the use of bitcoin. If the country is not accepted by the central banking system, it’s pretty much useless.
Germany – The German government and central bank   formally accepted bitcoin as a private virtual currency but not as a public currency.
Bolivia – The developing country claims bitcoin was created by the United States government to wage financial warfare on other countries!
Russia – The Russian Prosecutor General’s Office says “Systems for anonymous payments and cyber currencies that have gained considerable circulation — including the most well-known, Bitcoin — are money substitutes and cannot be used by individuals or legal entities.”

We all know that we're lucky if our own country recognises bitcoin instead of getting banned.

[Noctis Connor]

I think it is because some of the money that flows in our society is been stocked and keep inside the bitcoin society. Thats why they want to explode and spread the money that is inside of it.

[Carlsen]

I would even consider that some governments really want to protect their citizens from losing money.
There are really many ways to lose money when you invest in crypto currencies.
Especially beginners can make wrong moves very easy.
Every life insurance or investment plan given out by banks is regulated by laws. In most countries that is missing completely when it comes up to crypto currencies.
And because it goes much faster to simply ban something than to work out guidlines how to deal with it, some governments take the quick way.

[Fatmoo]

Some government banned Bitcoin because it could affect individual security and world economy. In terms of security, a person can buy a drugs or illegal stuff without giving his/her personal information using Bitcoin. So, it easily for a bad guys like terrorist to transact across the world.Government afraid that Crypto Currency like Bitcoin will replace the fiat money or Central Bank anytime soon. People can earn money by investing, buying, selling, and build their own business without paying right taxes. In that case, government fund that support government workers and maintenance of public road and places will be affected.

[carelessboy]

many country,s government bitcoin not accept .same my country. in my country bitcoin not accept  government.but i think very soon bit legal in my country .

[Pasaway2701]

They say because of price fluctuation. But I think the main reason it's because it's t the main concurrent of traditional banks.

Banks cannot be vanish just because bitcoin exist and online wallets where can store your savings and funds. Most of people believing that it is more secure to save your money on the banks. I think the reason why bitcoin was being banned by the government because they cannot control it and the people who use it. Maybe they found bitcoin is use for illegal doing and their identity was hard to track.

[Pjoh ie]

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

maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.

[syahdurindu]

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

Maybe because the government can not control the digital currency, and the government will not make money from digital currency, so the government does not let bitcoin in my country, but still people in my country much access bitcoin though can not use it as a tool for transactions , we buy bitcoin for profit..

[Vseguin45]

Bitcoin is banned by the government simply because it's something they can't control, the system is totally decentralized and the system is used to defraud. The Bitcoin allows the trafficking of illegal things and government doesn't agree with this.

[maydna]

I think it is because the government cannot control bitcoin so they give a statement to banned bitcoin but I see that there is a country that finally doesn't ban bitcoin although they don't give any statement about bitcoin. but if they can see that they have an opportunity to control or at least they can do something with bitcoin, then maybe they will not ban bitcoin and they will allow their people to still use bitcoin. but until now, I see we could still use bitcoin for many purposes.

[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

Maybe the country is afraid that their economy might cripple because of bitcoin and the cryptos since we all know that digital currencies are decentralized. So whatever your transactions in the blockchain, there is no way that small percent of it will be going to the government as tax of what you earned.

[icol333]

I think as long as bitcoin is considered as a virtual currency, or as an investment wealth (whatever you choose) it will be fine. Because nowadays the positive impact on cryptocurrency is already felt by the community, no more statement "rich will be rich, poor will be poor", everything is decentralized.

[FRJ]

It is obviously very bad for us.Very sorry but it is the truth that the governments of most of the  countries have banned bitcoin,the digital is most popular cryptocurrency.I think the main reason can be for their own interest.We use bitcoin but don't give any tax for it.Again,we have our own bitcoin wallet where we save our bitcoins which is very secured. As a result,we dont need to go to the banks to save our so called paper money (cash) by giving a certain amount of tax.Again,the profit that we get from the banks for holding money for a certain time,is nothing before the profit we get by holding bitcoin.

Learning these advantages of bitcoin,fearing about their own interest, th governments banned bitcoin.

But it is true that the governments ban bitcoin thinking about the security too.Because,sometimes,we saw that many criminal offend had been occurred by using bitcoin.This could be another major reason indeed.

[SergeYak]

Every goverment want to recive taxes from citizens that's why they are banning bitcoin. But sometimes goverment understand that bitcoin is not so bad and can help to economics.

[Hooda_64]

I think this is because the government has no proper control over it. And also the citizens of the country will invest in it as the people who earlier use to invest into the banks. And Bitcoin also has a high fluctuations rate as compare to others.

[jhamz03]

The reasons why government want to ban bitcoin is because bitcoin is a big threat to their economy, people may just earn profit without being taxed because the government will not be able to monitor the proper implementation of tax on individuals earning from bitcoin because of its decentralized property. And bitcoin can be possibly cover the economy of a one country since bitcoin price was higher than any currencies in the world. And furthermore bitcoin can be utilized as a part of unlawful exchanges, it can be used in illegal transactions like illegal gambling, drugs and illigal firearms.

[GregH37]

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

maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.

No government is banning bitcoin everyone is welcoming bitcoin in their region and they realize the fact that bitcoin is the alternative name of progress and development and no one can deny this reality so now bitcoin is legalize all across the world and those region who are unaware of this innovation education about bitcoin must be delivered to them and sooner two to three years bitcoin will be leading currency.

[Freshmen]

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

maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.

There is no doubt in this that bitcoin is a big threat to the governments as it liberates the control of a common person over his own money. But that does not go with the goals of our federal lords. But then there are countries like Japan supporting bitcoin all the time. I think, with time all the governments will legalize bitcoin as well as alternative coins but regulating them at the same time.

[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

maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.

No government is banning bitcoin everyone is welcoming bitcoin in their region and they realize the fact that bitcoin is the alternative name of progress and development and no one can deny this reality so now bitcoin is legalize all across the world and those region who are unaware of this innovation education about bitcoin must be delivered to them and sooner two to three years bitcoin will be leading currency.

There are governments who banned bitcoin and you can see it if you will use some search engines because that is one of the bad news that made the price of bitcoin to go lower and that is the reason for bitcoin to get some FUDs that still making it price go even lower and i think that overall, in the long run, bitcoin will still have a great future because those bans can change anytime.

[Neglected Person]

The government of the country does not have any good idea about bitcoin, the government can not make the government better by making the country's economic development through bitcoin. Bitcoins are banned by the government of that country.Bitcoin is just prohibited by not seeing the benefit of the government, if the government is banned it is normal.