why bitcoin is banned by the government

[Barbarian]

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.

No, they understand very well that bitcoin is a threat and they want to destroy it before it gains popularity among the population, but since bitcoin is decentralized they are having trouble finding a way to destroy it and the more time it passes the more difficult it is going to be to destroy it.

[Wilfrer]

I think it is forbidden because it loses a lot of government taxes. In addition, it involves illegal activities such as money laundering and corruption. So I think that's why it's banned by the government

[Trilogy-AI]

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.

Bitcoin doesn't necessary threaten the government's power. But it does allow circumvention of currency controls. (Hence the concern by China.)

[isyot12345]

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 banned in some other countries because they could not benefits the tax of its xchanges market,and its decentralized they cannot controlled the platform market caps,and mostly they thinks that bitcoin is fraud or ponzi,that can turn into people of lossing there investment.

[ngoctoan113]

Bitcoin is a decentralized form so no one can control it. so most authoritarian governments will forbid

[Trilogy-AI]

I think it is forbidden because it loses a lot of government taxes. In addition, it involves illegal activities such as money laundering and corruption. So I think that's why it's banned by the government

Bitcoin banned in some other countries because they could not benefits the tax of its xchanges market,and its decentralized they cannot controlled the platform market caps,and mostly they thinks that bitcoin is fraud or ponzi,that can turn into people of lossing there investment.

Actually, it's rather easy for a government to tax crypto. That's exactly what South Korea just did.

[mylifeisorandom]

In my opinion, Bitcoin cannot be banned easily in the ultimate sense as it resembles the character of a ballon, pushing it down on one side and it grows on the other side. I think that the government just wants to study the income and outcome of what Bitcoin will be before making a decision but it has already been used worldwide and a lot will surely protest if Bitcoin will be banned.

[icopir]

Many get financial independence thank bitcoin and many governments do not like when someone does not pay taxes

[amzad]

Each time the decrease of bitcoin is decreasing, but every time the drop drops in a small and smaller area, many have it. An old idiom that shows this statement: "Do not cry." The PBOC has "waved a lot" many times, and it is impossible that many will give their attention. Bitcoin, by its nature, is not governable by any government, and any specific government or The attempt to limit its use of the bank can only harm itself and its people.

[Rafar8]

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

Crypto currency becomes dangerous for many components of life. It is free, independent, does not allow the country to earn money on its citizens. But it's on the surface. What are the deep reasons why Bitcoin is so stubborn to prohibit, and many countries have already been banned. The reasons are as follows:

- Bitcoin, like other electronic currencies, can be used to launder money or to evade taxation.

- The system does not have a controlling center, so it will not work out in order to appeal or reverse the transaction in the reverse order. That's why Bitcoin was banned in many countries - under the pretext of protecting its citizens from financial fraud, which are irreversible.

- Virtual money does not have security. Also, there are no organizations that would be responsible to the holders of the crypto currency. Transactions are more speculative, and there is a risk of losing the price of Bitcoin in the future.

- Propaganda of Bitcoin is a threat to the financial system. This is one of the answers why Bitcoin was banned in Russia. Confirmative step was the entry of seven sites on the crypto currency under the ban from Roskomnadzor.

- Legally, crypto currency is not regulated and is not limited. At the same time, the process of awareness of the danger that comes from electronic coins has only just begun in many countries. At the same time, governments do not always make informed decisions.

 

[olia10]

Bitcoin was conceived as a state-independent data exchange system for crypto money. And such a system is really independent of the states around the world. Bitcoin can not replenish the state treasury, only this advantage of the crypto currency already has a negative impact on the national currency.

[TitanGEL]

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

You should aware that the bitcoin has bad side. There are also disadvantages that the bitcoins have. The reason why governments were banned the bitcoin is because they know the disadvantage of the bitcoin can create big problem in the society.

[Anewor]

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

As I have heard there are so many possible reasons why they did banned use if bitcoins, Some countries fear it could be used for illegal activities and or terrorism. Others would like to regulate it because of fraud in bitcoin transactions.

[MMS2017]

I think the governments are trying to control bitcoin that's why they have to imposed some strict regulation and taxes etc for this they have to be very curious about the paper money and those who use bitcoin or other crypto currency they can do many transaction over the internet and they will not be able to control over it So they are spreading this news in the crypto market do destroy this market. 

[ginika]

the reason is diverse, ranging from criptocurrency fraud issues, to hacking. Like in south korea, a number of trading offices allegedly abusing virtual money in order to avoid taxes, for that ministry of justice south korea is preparing a draft ban on the type of criptocorrency trade

[Bosx1ne]

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 reason is simple. Bitcoin has disadvantages in our society. There is bad effect to the financial institutions if all of the people will start patronizing bitcoin. Many governments say that bitcoin is a threat to banks.

[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

In my opinion, bitcoin is prohibited by the government because the government does not benefit from bitcoin, bitcoin cannot be controlled by the government and also the government is afraid bitcoin is used as a place to commit crimes such as money laundering corruption.

[dyablo]

I don't really think why they banned but here is my opinion.
Government banned bitcoin in other country because bitcoin could cause some problem like their economy, reduce of employment rate and also bitcoin could use in bad side. If they abuse bitcoin on their country government will be alarmed and thats why they banned it.

Some government banned bitcoin in their country because  they are afraid that their people will choose to use it rather their paper money(fiat). They are afraid that bitcoin will affect the financial stability of their country. And also they can't control and can't impose tax from bitcoin because it is decentralized. They cannot benefit from bitcoin.
And also, they are afraid that some of their people might use bitcoin to do an illegal transaction.

[Toden1379]

It's all just FUD. Banning bitcoin is like moving backwards for your country. This is just FUD being spread so other can get in on bitcoin. Governments already see the potential for cryptocurrency and are just planning on regulating them.

[ReindeerOnMe]

Because they do not like it. They are saying that bitcoin is manipulated by someone. They said that it is  a risk since it is a digital currency which is decentralized and unstable.