why bitcoin is banned by the government

[Daboy_Lyle]

List of Countries that have Banned Bitcoin
Thailand– The Thai treasure banned bitcoin outright.
Chinap– The Chinese treasure enacted policies on bitcoin that pretty much restricted the use of the virtual currency.
Taiwan – The country’s Financial Supervisory Commission (FSC) blocked efforts to install first-bitcoin-atm-installed-bostons-south-station Bitcoin ATMs in the country and restricted its use as an alternate currency.
India – The Indian’s central bank published a lengthly document against the use of bitcoin. If the country is not accepted by the central banking system, it’s pretty much useless.
Germany – The German government and central bank   formally accepted bitcoin as a private virtual currency but not as a public currency.
Bolivia – The developing country claims bitcoin was created by the United States government to wage financial warfare on other countries!
Russia – The Russian Prosecutor General’s Office says “Systems for anonymous payments and cyber currencies that have gained considerable circulation — including the most well-known, Bitcoin — are money substitutes and cannot be used by individuals or legal entities.”

We all know that we're lucky if our own country recognizes bitcoin instead of getting banned.

The countries that accepting  bitcoin are many than the country  that didnt accept it. I think Philippines  is on their way due to that a couple of person scammed over 900 Milion worth of bitcoins but there's a lot of user on the Philippines  that well disagree for banning it.

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[Burogh]

I am believe bitcoin banned by government and central bank because they can not control bitcoin. Bitcoin is decentralized system and not allowing any institution or government to control it because transaction data spread around the world.

[olia10]

Crypto-currency systems are absolutely anonymous, which frightens the government of various countries, as control over the movement of capital is one of the main sources of power. Against bitcoins, war is waged not only by the government, but also by the banking system, as governments and banks are working together. Yes and more Bitcoin worries tax officials.

[maxreish]

One thing inside my mind, why bitcoin prohibited or banned in other country, because many of there country men victimized by the scammer or opportunist  people, thats why the government prohibit  bitcoin to avoid such thing in their own country.

[magmar]

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 the bitcoins are a tgreat into theit government then the bitcoins are gpnna be huge than tgeir monetary unti then there are definitely gonna ban bitcoins for that because the bitcoins are an independent currency there us no taxes at all and they cannot be controlled by the government. But maybe the bitcoins is used by some illegal activities in that country that is why the government are banning them. There are a pot of reasons why

[Sled]

Crypto-currency systems are absolutely anonymous, which frightens the government of various countries, as control over the movement of capital is one of the main sources of power. Against bitcoins, war is waged not only by the government, but also by the banking system, as governments and banks are working together. Yes and more Bitcoin worries tax officials.

The cryptocurrency are now not getting that anonymous because all of the wallets and exchanges that i have ever tried needs kyc or know your customer policy which it requires you to submit certain documents or id's in order to be verified and that is how you are going to increase your limits or fully maximize your experience in those platforms.

[BigBos]

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 the bitcoins are a tgreat into theit government then the bitcoins are gpnna be huge than tgeir monetary unti then there are definitely gonna ban bitcoins for that because the bitcoins are an independent currency there us no taxes at all and they cannot be controlled by the government. But maybe the bitcoins is used by some illegal activities in that country that is why the government are banning them. There are a pot of reasons why

well, maybe a lot of people are using bitcoin in a way that is not good, because the government is banned bitcoin. but, lately, the use of bitcoin, especially cryptocurrency is used for positive things, I just hope the government immediately supports this.

[memaks]

If bitcoin continues to develop this way,it can destroy the entire modern banking system.+ Decentralization-the most dangerous for any state, as it loses control over finances.

[iqlimasyadiqa]

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 the bitcoins are a tgreat into theit government then the bitcoins are gpnna be huge than tgeir monetary unti then there are definitely gonna ban bitcoins for that because the bitcoins are an independent currency there us no taxes at all and they cannot be controlled by the government. But maybe the bitcoins is used by some illegal activities in that country that is why the government are banning them. There are a pot of reasons why

Yes it is true that the government is frightened and worried that Bitcoin is used for illegal acts prohibited in the country. It could be detrimental to the state and create an uncontrolled state. Especially when more and more people are using Bitcoin then the country will lose income tax. To overcome such a thing there should be a regulation that regulates the circulation of Bitcoin, it can make bitcoin and digital currency more controlled and can be managed properly.

[darefreads]

I think government use to banned bitcoin because of their own security banks that may beat by bitcoin. I mean many people will try to use now bitcoin as their banking place. That they can earn much better amount of money in a year. That's the things I see to it when I started joining here as the user's here in my country grows.

[shendy]

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 is already proven to make its users feel a better life. But the government's view of Bitcoin is very different. The government considers that Bitcoin is only a disservice to its people and the impact of Bitcoin is very bad. Though in fact not as bad as the Government imagines.

[faranisa]

First, because the nature of bitcoin is fluctuating and it's like gambling so it does not convince the government. Second, maybe the bitcoin system is incompatible with the current system and working mode in government.

[Yari_k]

  Recently, I'm interested in an article about India.
  Take the case of the Indian Rupee. The Reserve Bank of India has expressed concern about the secretive system of Bitcoins being a conduit for illegal activities -(now that the Government has made a push in a large way towards tracking and digitisation of the economy) They are in no mood to allow Bitcoins to be the next hawala conduit so will as a first step ban them as legal tender in India.
  Almost all countries are beginning to be afraid of bitcoins. Probably because it is impossible to track the balance and payments - accordingly, the government can not impose taxes on its citizens. And this is not only in India but also in many countries around the world.

[T-Bag]

There are a variety of different regulations that could put on cryptos, without outright banning them. However, make no mistake, any significant regulation will undermine the currency as a whole. The first regulation, that I believe will happen quite soon in the United States and Western Europe, will be a requirement to register your wallet. For most owners, this is easily accomplished by their hosting service, such as Coinbase. By doing so, some level of anonymity no longer exists. Yes, individuals could disobey this order. However, unfortunately, most would obey the law. This would make transfers between registered and unregistered wallets, quite risky for the "legal" individual.

The next level of regulation, which is largely impossible without anonymity removed, is taxation. As far as I know, profits on cryptos are only taxable if the individual takes them out of cryptos altogether. I suspect that this will change. If you profited in a new altcoin, and you want to park your profits in Bitcoin, I believe the government will begin treating that as a taxable investment profit. I'm not convinced the government is all that interested in this small chunk of revenue; I think they would institute such regulations in an attempt to squash high amounts of fiat being traded in for cryptocurrencies. To that end, I think it is possible that countries such as China, would limit the amount an individual could transfer into cryptocurrencies, in a certain time frame.

[Harley29]

I do not understand the government's policy of bitcoin, in my country I see everyone who has participated with bitcoin, their life lifted in economic terms. maybe the government does not want it if its people become rich 

Wow this is the best news that at some place people are really satisfied in their life with bitcoin, same as them I am really happy to have bitcoin as bitcoin has given me a lot of things that were just out of reach for me, now I am able to get even the most expensive things just because of bitcoin and my earning with bitcoin, so our government should promote and support bitcoin because it is best for us and for the people of our country.

[Crazygreek]

Bitcoin i still new thing for many people and very hard to create something that can control it. When you don't have enough time to think better to ban it.

[sserge009]

Any government has control over the release of money in their own country. Bitcoin delegates this function to all comers. On the other hand, transparency and nanniness. Two things that do not like in any ruler. In my opinion theer no other reasons to do not like bitcoin.

[xbl1008]

Now they have banned it for the reason that they still don't know it and they want some time to fully understand it. How can you regulate a thing you don't understand and government have the power to cease it use for the people to be not involve in its potential risk though it might give you rewards but to the government its still unknown so they will not support it as of now.

[skyflakes88]

the government wants to ban crypto because they want to know the front and back of it as of now they want to know how it works so they can pin point what should be regulated how can people benefit and how people can take advantage of bitcoins loopholes.. they are doing fine so peoples money would not be put in scams and where their hard earned money can be safe.

[knight20]

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 is just only protecting there people to reduce the scam to there country because some of people using bitcoin to scam and they do it by there own country. Like the issue to the Philippines about 900 million pesos scammed by the couple using the site New G. By that issue it could also affect the bitcoin reputation to that country it could also affect the trust of the people to bitcoin.