why bitcoin is banned by the government

[obinine]

Government went for taxes and bitcoin is utilizing crypto and blockchain no legislature can deal with this when all individuals utilize btc in a nation which the administration has no control where do they arrive stores for every one of the ventures that they need to do that is the reason they have fear in the crypto yet in Korea they place burdened in exchanging and they can put some greater charge in all settlements where we money out our cash

[Creating N Action]

The reason why other country or the government banned bitcoin is because of the people. I've learned that other people used bitcoin as their money in doing bad things or crimes. People or terrorist of the country used bitcoin as their profit to buy gun and sharp things against to their enemies. For me, this is the reason why other government hate bitcoin.

[kiloiko]

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.

You’re wrong, some country’s government does not accept cryptocurrency, so they tend to ban it from their country. Haven’t you heard of China ban on ICOs? Haven’t you also heard of PBoC (people’s bank of China) requesting that Bitcoin should be banned completely from China? So you’re trying to say that those news are all fake. Well, I’ll like to let you know that they are true. Government is banning Bitcoin for sure, but not all of them.

[SacriFries11]

I think some of countries banned bitcoin it’s because of the anonymity and they think that it could be a threat not only for the county but also for their people.  They only protect their people against other form of scams that are also spread to the internet and can use to bad purposes. Government wants money that they can control and manage by their own so it’s one of the reason why they banned bitcoin.

[aimey]

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 banned bitcoin because in the first place it is a cryptorrency. It is still considered not a legal tender but only based on trust. Users are not paying taxes directly to the government. In other words, users depleted revenues which  due to the government.

[ReindeerOnMe]

The reason why other country or the government banned bitcoin is because of the people. I've learned that other people used bitcoin as their money in doing bad things or crimes. People or terrorist of the country used bitcoin as their profit to buy gun and sharp things against to their enemies. For me, this is the reason why other government hate bitcoin.

It is right that bitcoin can be used in this type of transaction or crime, but if you do not know, bitcoin is not that really anonymous. It is proven that bitcoin and bitcoin transactions can still be tracked and also, crime using bitcoin is not really that used in that matter.

[Perseusallen]

First it banned initial coin offerings, or ICOs — the equivalent of initial public offerings for new virtual currencies. Then it called on local exchanges to stop trading in cryptocurrencies and outlined proposals to discourage bitcoin mining — the energy-intensive computing process that makes transactions with the digital currency possible. It’s also moved to stop Chinese companies listed abroad skirting its domestic ban on ICOs. (New York-listed Renren Inc. was said to cancel a planned overseas ICO). Officials now intend to block domestic access to online platforms and mobile apps that offer exchange-like services for cryptocurrencies. Domestic stock exchanges, too, are targeteing companies that promote themselves as blockchain-related to boost their shares. It’s part of a concerted effort by agencies including the central bank, the cyberspace administration and China’s Ministry of Industry and Information Technology.

[malah]

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

Yes, the government should also look at the positive side, that bitcoin has greatly helped the economy of its users and has changed its life for the better, so the government should support bitcoin.

[avp2306]

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

Yes, the government should also look at the positive side, that bitcoin has greatly helped the economy of its users and has changed its life for the better, so the government should support bitcoin.

But theirs no knowledgeable people explain the good use of bitcoins that's why we can see them up against it and bitcoin is huge treat for them since it could even kill the fiat economics which can lead them to unecessary deeds. But let's hope that government will adopt crypto since if that case will be happen all of us will became more benificial holders since its always win win situation for the people who have knowledge about it.

[dharnamonitor]

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 guess the government officials just fear what and how would bitcoin affect the country they are in. This is why they are quite cautious when it comes to implementing and accepting something in their countries. Although, I do hope that the governments around the world would soon accept bitcoin.

It's not only a guess, it's real. Who would accept a certain market driven by speculations. Obviously they would think that instead of helping those citizens to lift up their finances it might be a cause to make them more poor.

[BigDig]

at the moment when I heard from the government that the control of crypto currencies was needed to protect the population from dangerous investments, everything became clear to me. Two words - anonymity and decentralization. direct antonyms to everything that any government represents.

[MIZANUR5033]

Bitcoin is a electric data and no one can use it physically. The price of this coin is touching the sky. There is no relationship between bitcoin and any type of banks in this world. People does work by this coin at online. This coin gives us many facilities.
If we work with it then we don’t need to pay any extra taxes to the government so that government can not get their proper taxes and sometimes people looses their big amount of money and countries economy decreases and there is a big chance to transfer black money into bitcoin and it effects on countries economy so much badly.
Most of the government of who have banned bitcoin don’t want to take any risk and don’t want their people at any risky position so that they have avoided bitcoin from their area.

[JCLee]

Because Bitcoin is not easy to be controlled, beside it's an anonymous way to make payment so it's impossible to find out the owner of any transaction and that why Bitcoin is being taken advatage to commit guilty like money laundering, drug trafficking and tax evade everyday. Beside Bitcoin price doesn't stable so it's to use Bitcoin as a local currency for payment.

[Crazygreek]

It's easy to answer. Govenment just losing money because of people who using bitcoin and they don't wanna solve this problem and jsut ban bitcoin.

[Nenegayung]

Many factors prohibit the existence of bitcoin by governments in every country, since bitcoin is not a country-approved currency payment, and its financial transactions are tax-exempt.

The government is also concerned about the risks of using bitcoin in the community. This is due to many unlawful acts such as money laundering, terrorism, and the sale of illegal drugs.

However bitcoin can change the economics of the underprivileged, and change a person's mindset to be good. One day maybe the government opened his heart for us who seek sustenance in this crypto world.

[Barbarian]

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

Then they will need to ban fiat under that kind of thinking since fiat is by far the type of currency used by criminals to do their business, when you see things like that it is very easy to see they are using that as an excuse to ban bitcoin, what they are really afraid is of the possibility of the people being empowered by bitcoin.

[psikolog]

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 like to ban things they can not control. That's why they prefer to ban bitcoin or other cryptocurrencies.

[carlisle1]

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.

right.since bitcoin spreads all over the world and being used for many big transactions i guess this is enough reasons for them to impossibly banned the entire usage of bitcoins and all cryptocurrencies..imagine world now without crypto?1/3 of the economy will get loss if they implemented this

[johniadeluca]

If you can't control something at all, it can be hard to find a viable option other than to ban it,. It just goes to show how powerful the technology really is

[PatyZante]

Most of the countries who banned Bitcoin stated that they are just protecting their people from fraud and scams. I think it is because of its anonymity and being decentralized that's why they are so skeptical about it, they cannot control it ever the least that they can do is to impose some regulations towards it.