why bitcoin is banned by the government

[chizcake]

Main reason why government would want bitcoin to get banned because there are most numbered of earners  and they are not paying taxes or any fees that benefits the government.  Recently we just had issues on banks who refuse to recognize bitcoin and this is mainly mandated by the government. Many users do not want to have fees in earning bitcoin. They will oppose any implementation on such matters that is why some government from other countries banned bitcoin.

[Jeffdu3300]

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 government has duty to protect their citizen's interest. If they feel that they constituent is threaten they will make actions to protect them. Maybe as of the moment most of there people didn't really understand the crypto that's why they imposed banning the crypts.

[maydna]

I think the government now will thinking more about bitcoin because they see that the people still want to invest their money in bitcoin and perhaps the governments will not ban bitcoin and will allow bitcoin to be used by the people. but I see that there are a country that still bans bitcoin and I think if the other country giving their permission to bitcoin, then that country will release the ban and will allow people to still use bitcoin.

[Hopeful2017]

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 is banning bitcoin because they cannot collect tax in bitcoin. Also, they cannot trace who are the holders or users of bitcoin in their countries. Aside from that, bitcoin is somewhat affecting the banks because people prefer to invest in the ICO and altcoins than putting their money in the bank and will just freeze. This situation alarmed the governments and they will do anything to suppress bitcoin.

[marroxas]

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.

[Lyne01]

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

Governments are doing that because of the following reasons:
1. Bitcoin is independent, you have financial freedom, investment freedom and trading freedom.
2. Bitcoin offers great asset in which government cannot control.
3. Bitcoin has no tax, government wants tax.
4. Bitcoin is decentralized, government is centralized, controlled and no freedom.

[cizatext]

The government are being deceived by the financial institutions like the central bank due to the fact that the banks see bitcoin as a traits to they existence and at that the only way to bring bitcoin down is through government banning bitcoin, and also government feel that bitcoin can be use for criminal activities since it transactions can not be monitored and control bitcoin can be use to buy drug's, pay for illegal arm and even use to launder money out of a country unnoticed.

[TheGreatPython]

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 maximum countries that have declared bitcoin legal and these are mostly those which are serving as hubs of technology such as Japan, USA and so on. It is a fact that those who really understand the importance and worth of bitcoin and this blockchain technology have declared bitcoin legal in their states and rest of the countries are also getting inspired by them. In most of the effective parts of world, bitcoin is legal.

[vixer]

because bitcoin is an unreal currency, and some governments consider it too risky for bitcoin. and bitcoin are also often made money for illegal transactions in cyberspace. but it is all back to the views of the government of a country, not all states state equally.

[Regar]

Every government has their strategy and perspective to handle such situation, i think most government which banned bitcoin currently still learned to understand are bit coin is a threat to their people on short and long period based on economic perspective on their government strategy and information.

[casternetwork]

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

Many governments think that if Bitcoin intervenes in their economy, there will be dangerous fluctuations in the country, maybe the government has other moves but due to the unstable economy, Bitcoin temporarily It is still prohibited, but in the future, it will be accepted

[Leeeeeya]

The simplest answer to your question is that government can not handle bitcoin and they wanted to have the control over this but thry can not, so the best way they can think is to ban bitcoin.

[TrumpD]

Over the last 24hrs, South Korea's finance minister has come to say state that the country is not going to immediately ban cryptocurrency exchanges. However, they may have good cause to do so. This is because they recently uncovered illegal cryptocurrency foreign exchange trading worth nearly $600 million, and it could be more. So it's not surprising that governments are banning cryptos at the moment. I am not a fan of government regulated funds/payment mainly because of tax implications as well as them controlling economic power/freedom. But stuff like this news is a worrying one. My question would be can we - the crypto-community - do anything to limit the negative narrative that comes from crypto trading?

Link: https://www.reuters.com/article/us-southkorea-bitcoin/south-korea-says-no-plans-to-ban-cryptocurrency-exchanges-uncovers-600-million-illegal-trades-idUSKBN1FK09J?feedType=RSS&feedName=topNews&utm_source=twitter&utm_medium=Social

[bitcoinlang]

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

Because other government think that it may affect greatly in their economy that's why they banned some of it. And maybe sometimes they banned it because of many potential hackers in their country.

[nwahshearthiad]

It is mainly because bitcoin is a big threat in the government because they have no control over it unless they acknowledge it and regulate it as a currency they will never get a grip on it. And also knowing how popular bitcoin is many uses it for scamming, i think that's why some of the countries ban it.

[skarais]

It is quite realistic if the government prohibits the use of bitcoin if this study is limited to its negative impact, but in this case the government would need a wiser judgment to test the positive value of bitcoin that has contributed to the economy for the better, though not yet fully perceived by everyone in the world but of course along with the time the functions and benefits of bitcoin will be perceived by all

[bocyaj]

Since Bitcoin is decentralised currency, it's not at all possible to ban .You can made bitcoin transaction at anytime.The people saying bitcoin is banned in China,it means the participating of ICO is banned.They are doing this to get some taxes from the people by the name bitcoin.This is the only reason for making Bitcoin as a illegal one.

[Tamim121]

In my opinion Government banned bitcoin because they have no controlled on it. They don't get any tax from it. By the help of bitcoin too many dishonest man invest their black money on it and transaction their money without any hesitation and cheat the government. So many criminals use bitcoin to make crime etc. Because of this reason government banned bitcoin. But I hope one day bitcoin will accepted by the government and legal it on their countries.

[lagoon88]

I think nobody can stop bitcoin. Those who have banned bitcoin would reverse their decision soon.

[Dragon5]

Governments are reluctant to accept BTC. China, alarmed at the way crypto-currencies can evade government oversight, has taken the harshest line.
Last year it banned domestic exchanges; in recent days it has taken aim at websites flouting this ban. China’s miners, still dominant in the global
industry, are shifting to other countries.