why bitcoin is banned by the government

[Anco_Marzio]

Bitcoin is not officially banned (actually, it's impossible, because you had to shut down the internet), but of course governments can make very difficult to cash it, and here is the real problem.
Actually, governments started to act histerically because they see that they are losing the control, and they don't know exactly what to do.
When they'll find a way to connect any bitcoin address to someone, and to tax him, there won't be ban anymore.

[icons6]

The Bitcoin wouldn't ban the government.Why?
Because the records of the Bitcoin network including all balances and transaction are stored on every computer helping to maintain the network.
If the government made it illegal to participate in this network,the computers and people keeping the records in other countries would still be able to continue.The decentralized nature of Bitcoin is also one of the qualities that have made it popular with people who are suspicious of government authorities.

[Sled]

Bitcoin is not officially banned (actually, it's impossible, because you had to shut down the internet), but of course governments can make very difficult to cash it, and here is the real problem.
Actually, governments started to act histerically because they see that they are losing the control, and they don't know exactly what to do.
When they'll find a way to connect any bitcoin address to someone, and to tax him, there won't be ban anymore.

Bitcoin is officially banned in some countries because their government can't stand with bitcoin since it is fully decentralized so there is nothing that they can do in bitcoin to fully regulate it but to just ban it as a currency. Government will not have any chance to control bitcoin and that gave them a mindset to just ignore the cryptos and ban it because they can't get benefits for themselves.

[DIAH PERMATASARI]

Quick attempt @ summary:

#1 Wealthiest demographics wield the most powerful political influence.

#2 Wealthiest demographics generally do not want young, hungry, upstarts starting a business in their garage which turns out to be the next apple or google.

#3 Small businesses have the potential to upset the status quo and could dethrone giants in banking, finance and other sectors. This implies those living on the top of the mountain could make some effort to maintain their reign while preventing others from climbing up the mountain after them.

#4 To some extent its in the wealthiest demographics self interest to maintain thire status quo, which implies keeping things like bitcoin which have potential to overthrow banking cartels, in check.

they should be able to think logically, this era has advanced not as it used to be that still can be arranged the same above, precisely the downcurrent can make them down the mountain therefore, so my advice for them to be able to give up the opportunity for the young to work by using the new method of transparency and decentralization, all have the same chance I think it is new fair but in fact they do not think it's just that their only ego is in priority

[Remaka]

If you are very conversant with the news, the common reason why different government have ban cryptocurrency is because people use it to transact illegal businesses and because of the high fraud rates. If fraud can reduce on Bitcoin and other cryptocurrencies, the government will most likely lift their bans or if the government finds a way to catch illegal transactions made on Bitcoin, they will likely lift their bans. Again, the bank industries are threatened with how crytocurrency is getting wildly accepted and they are getting scared for their business. As the central banks of most counties are run by their government, the government have to protect their interest and impose these bans.

[Triyavam]

In early 2018, the government began to take decisive steps to suppress bitcoin development, as a financial regulator, regarded crypto as an illegal and unknown currency,
Because it has no formal basis and regulates authority, bitcoin is vulnerable to abuse of illegal transactions, money laundering, and terrorism financing, It is affirmed that all transactions conducted in the region must be in rupiah currency, The circulation of bitcoin is also illegal because it is not covered by the Central Bank.

[1Bang T JOE]

The reasons vary. Starting from the issue of fraud cryptocurrency, to hacking. In South Korea, a number of trading offices are allegedly abusing virtual money in order to avoid taxes.

[ankylotic]

Actually  is very helpful once the small community economy ..
The reason the state forbids  is to apply the principles of prudence, safeguarding business competition, risk control, and consumer protection.

I think any government of any country wants every thing under their control so, its obvious for  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.

[Magister Magus]

To say that bitcoin is banned by the governments is just a fake news, for the simple reason that it's impossible for a single government to control the blockchain.
All they can do is to make  difficult or even illegal to change bitcoin in fiat money, but this won't stop the transactions.
Btw, there is no interest to really "ban" cryptocurrencies; governments want only to find a way to tax them. When they'll succeed, the war against crypto will end immediately.

[niteroy]

Provinces of different countries are afraid of bitcoin because it is impossible to control, it is impossible to track who paid what to whom, a bitcoin wallet can create any, without providing personal data. Bitcoin account can not be frozen, as it can be done with any bank account by court order. And the most important thing is that bitcoin, its circulation and the commission will override the basics of the economy, because according to the constitution of almost all countries, the state is the emitter of money in the country.

[BlackBeauty]

Provinces of different countries are afraid of bitcoin because it is impossible to control, it is impossible to track who paid what to whom, a bitcoin wallet can create any, without providing personal data. Bitcoin account can not be frozen, as it can be done with any bank account by court order. And the most important thing is that bitcoin, its circulation and the commission will override the basics of the economy, because according to the constitution of almost all countries, the state is the emitter of money in the country.

I think government want to some proof that bitcoin is secure for everyone and it will never harmful for nation, but actually bitcoin is the best way for best future and those persons who want to earn some extra money for comfortable bitcoin is very best choice for them because their job salary is not enough for their family's future and that's why they trust on bitcoin and i thinl one day government will accept bitcoin.

[d1ceplayer]

Provinces of different countries are afraid of bitcoin because it is impossible to control, it is impossible to track who paid what to whom, a bitcoin wallet can create any, without providing personal data. Bitcoin account can not be frozen, as it can be done with any bank account by court order. And the most important thing is that bitcoin, its circulation and the commission will override the basics of the economy, because according to the constitution of almost all countries, the state is the emitter of money in the country.

I think government want to some proof that bitcoin is secure for everyone and it will never harmful for nation, but actually bitcoin is the best way for best future and those persons who want to earn some extra money for comfortable bitcoin is very best choice for them because their job salary is not enough for their family's future and that's why they trust on bitcoin and i thinl one day government will accept bitcoin.

Only a fool will resist an investment like bitcoin where you can become millionaire simply by investing few thousand dollars and that too by simply holding onto your coin in your private wallets. It has been proved that bitcoin has the capacity of changing someone’s life in an epic way because it has already made investors rich last month.

This is amazing currency, that’s why even billionaires are investing into it. There is no way bitcoin can harm state or world economy by improving individual economy.

[Elizer]

They can not afford taxes and one may even make it a syndicate mode

[slapper]

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 important reason is that Bitcoin is uncontrollable. The governments cannot control Bitcoin blockchain and others kind of blockchain so that they don't want them to be a part of their economies, it's really risky when accept them to be a part of their economies. It can make their economies go down because of money leaking when money streams go into blcockchain instead of going into real markets.

[Jose Rizal]

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

Thats not the issue why they banned Bitcoin, for the past few weeks several cases involving hackwrs as well as Bitcoin were given, economically on top countries decided to banned Bitcoin cause nowadays Bitcoin has been the medium of cybercrimes, they didnt hate this probably we can that they are just protecting the rest of the people.

[Wonder_woman]

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 they ban bitcoin because yes it can change the state of life of it`s user, it can make an individual wealthy but I think it can cause negative effect to country`s economy because bitcoin can affect big factors that can make the economy high. For example, the bank, bitcoin has many function same as the bank like storing money on bitcoin block chain wallet or paying bills using bitcoin thru bitcoin wallet instead of storing money and letting the bank pay your bills. These things may cause negative effect to the bank`s as well as the country`s economy because of the tax to be collected by the government from the bank base on the profit of the bank.

[mriansa]

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

it seems that bitcoin circulation is prohibited by the government because the government wants to make a negative issue and wants to reduce the bitcoin price and make the government have a chance to buy as much bitcoin as they want.

[Swanson]

one of the reasons. - Almost 20% of owners of crypto currency bought them on credit. They borrowed to buy bitcoin or some other token, or bought it with a shoulder, the results of a survey conducted in mid-January by CoinDesk. More than 3,000 people took part in the survey.

[PrinceCaspian]

The government doesn't want to have an distraction for their leadership in their country because if they will let a currency that is decentralized to take over their country then they will be on a risky situation because the people will not use the fiat more often and they will just depend on the decentralized things which will make the government powerless.

[BitcoinPaw]

Govenments of many countries can't find the way to control bitcoin and keep reciving taxes that's why they just baning bitcoin. I think that someday they will undertand that bitcoin is good for them.