why bitcoin is banned by the government

[syamster]

For me, I think bitcoin is a big threat to their economy because people may just earn profit without being taxed by the government becase it will not be able to monitor the proper implementation of tax on individuals earning from bitcoin because of its decentralized property.

The governments can do the reactive operations to know about how much crypto currency some person has managed to purchase and when and then the government can do the taxations of that profits. There can be a regulatory authority in the government sectors which give the security to the people on their investments in the bitcoin in return of some taxations. Now there are ways and means to implement these, but for that some government has to be a first one to do these things.

[Barbarian]

It is banned for the reason that they take bitcoin negatively. They think bitcoin is the tool for fraudulent transactions made by many. They cannot take control of bitcoin as well. Even if it has been helping a lot of people earn big, they are still against of bitcoin. It saddened us as users. Bitcoin has already dominated in some other countries yet government is the number one who oppose to it.

I don't blame govts at all since they rely on taxes for further development of their respective countries. I just hope that a compromise will be arranged soon since Bitcoin and cyptos in general stand behind a legit technology which is corruption free and secure.

This is what they are trying to sell in the past governments did not rely on taxes like income taxes in order to function, and when they the taxes were are very low something like 10% or even less but now there countries that charged you up to 50% tax, you are basically a slave in everything but name.

[Raufjoze]

Bitcoin is banned by the government because they can't collect tax on bitcoin.And they can't control the people invest in bitcoin.

I have the belief that bitcoin has greatly helped the economy of its users and has changed its life for the better, so the government must support bitcoin. Yes, the government should also see the positive side of bitcoin users

[srmecdes]

There is only one main basic reason in this filed in my opinion.
They are scaring due to preventing tax via cryptocurrency.

[sserge009]

Because the very idea of bitcoin, how it works, undermines the foundations of any state administration. Control over the issue of money is the main tool for control over society, and bitcoin and crypto-currencies give this kotnrol to the masses.

[ismelda_ita]

My country is also banned from Bitcoin transactions. The reason is that without having a formal basis and regulating authority, Bitcoin is prone to abuse of illegal transactions, money laundering, and financing of terrorism. They say that Bitcoin has the potential to cause markup. Therefore, the transaction of speculative virtual currency values.

[Ayush rana]

In my point of view the main reason of bitcoin ban is to stop the illegal transaction of black money. As we all know that on d8th November 2016 Indian government took a major step to stop the black money but after that many people invested in crypto currencies. So Bitcoin ban may be the another step to stop the balck money and black money holders.

[HiringYou]

Many countries are banning Bitcoin because of it's decentralized nature.As it is decentralized in nature so no government is able to track and control the transactions made thorugh Bitcoin.So people involved  in the transactions are not identified.This made the transactions anonymous and tax free.So the governments are banning Bitcoin because they don't want any such currency to be in action over which they have no control.Due to the anonymity provided by Bitcoin many users are using Bitcoin in illegal dealings such as drug dealings,ammunition dealings etc. This is one another reason why Bitcoin is not supported by many countries.

[Anies_Sandi]

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 ban of bitcoin is already widespread, but some do not forbid it. it all depends on every country that approve it, because as far as I know many who do not know bitcoin but they think negative.

[MAJICOIN]

Countries like China and Russia and many other countries are bitcoin friendly and this will not banes by any country but the countries will make some regulations because it is currency so it has some limitations because if we leave this freely then it will enter and goes from countries with out permission and we would not able to make some restriction over this so bitcoin users should relax no body can bane bitcoin and other crypto.

[iamlds08]

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 this emerging technology of cryptocurrencies is a big threat to existing form of payment system and bitcoin may disrupt the current trend of commerce and may destroy businesses all over the globe that is why it is banned in other countries.

[Jahson420]

For me its because it will just lead to corruption because of its high price. And there are some people just want to hack. Just to get the information of its user.

[Swanh]

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 banned bitcoin due to some reasons governments cann'ot take advantages on the benefits of bitcoin.More and more people adopt it and if times comes that crypto currency would spread around the world the government has no more source of income in entire country.That is why government banned the bitcoin in some countries.

[anjelaro]

They are just scared abotu bitcoins and are worried that it might replace banks. This will reduce their control over money and people.

[tylerderden]

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.

Yes, Economic freedom could be a reason,but their is some other reason present too. Bitcoin is first world decentralised currency which means no single authority or person can decide its production and distribution. And this thing directly affect an country own currency and ultimately affect country economy. And no government never want any thing which affect their country own currency. Bitcoin is  also related some other serious issues like criminal activity. Its uninterrupted and untraceable money transaction facility support anti social people to did this. 

[ooeygooeygold]

probably because bitcoin is not yet legal in a country. and, the country is also confused in calculating taxes from bitcoin. because of all bitcoin transactions over the internet. so the country is difficult to calculate the tax of someone who has bitcoin

[mak lessoh]

if I think the first because they do not get bitcoin tax and the second because the government is afraid to be a money laundering and a dark transaction

[Ehilamale]

The state is trying to ban everything it cannot control. Including cryptocurrencies, with which money goes into the shadow.

[LeonardRiggort]

Because bitcoin represents an economic danger for government profits, remember that according to the amounts it is free of interest, in some countries you must declare btc in other cases no. This breaks with the economic monopoly that has been created

[cluit]

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 this emerging technology of cryptocurrencies is a big threat to existing form of payment system and bitcoin may disrupt the current trend of commerce and may destroy businesses all over the globe that is why it is banned in other countries.

There is no direct link between high prices of the commodity and its usage for the sake of corruption. What about corrupt politicians who are using their national currencies for filling up their foreign accounts? Corruption is not related to any system or currency, corruption is the problem with human behavior and minds. People who are morally corrupt they conduct corruption no matter how secure is the system.