why bitcoin is banned by the government

[esa2782]

because some governments see that if bitcoin become legal it will be hard to control and it has a huge chance to be used in the wrong direction and wrong activities, such as crimes, drugs, money laundering and worst of all is terrorism, the other reason is a natural competition, it will jeopardised the system of economy, at least in currency issue, there will be open competition between paper money and bitcoin, or to put simple each country will have to legal currency and in the end of the day, natural selection will take part and probably the paper money will die out or badly inflate and that is really not good for economy, that is some of the reasons i think why many governments still ban bitcoin.

[brainryan]

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

Well, I think the specialty of bitcoin is decentralization. This feature conflicts with government and banking organizations on how to operate and manage. In addition, the characteristics of peer-to-peer transactions, which are not through organizations or management tools, bring about world-wide risks and security and political issues. Bitcoin can be abused by corporations or corporations for the purpose of tax evasion and crime.

[genocide]

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 because it is highly encrypted and highly confidential with regards to identity that whatever happens, there is no other way or reason to investigate since there is no information to use for during investigation. Secondly, it is not yet legalize in some other countries because it takes so much time, money and effort before it happens and there are so many things to consider with.

[beezunus]

every country has its own policy on bitcoin and they ban bitcoin because they can not control the use of bitcoin and they are afraid bitcoin will be used for crime and fluctuating prices will make the users could lose money

[ohkkstaaahp]

Governments in some countries say BTC is a coin for criminals, anonymous BTC to easily fund criminals. is a haven for money laundering criminals. Terrorism. But I do not think so. BTC has many benefits. Some large countries have high qualifications that they have accepted BTC as their currency.

[laravuemaster]

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

Not every country is being affected positively because the economy of their country cannot handle the growth of cryptocurrency and most of the people are preferring to invest on bitcoins more than placing their money on banks and government has a big problem in that kind of situation because they cannot get their funds.

[Armstand]

every country has its own policy on bitcoin and they ban bitcoin because they can not control the use of bitcoin and they are afraid bitcoin will be used for crime and fluctuating prices will make the users could lose money

It will just a matter of time that those who bans it will soon to implement it again , they will just make study of it now how they can use it for governments advantage, if they see how other countries implement and put impact to the people they'll sure approve it again.

[agentx44]

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 own point of view, the reason why the government banmed bitcoin because they cannot control bitcoin and cryptocurrencies, some people think bitcoin is just a way to trick people to invest their money in cryptocurrency and in bitcoin which it is not true, but there are sites that you really be careful log in. and they think bitcoin and crypto can replace the current currency.

[Sab11]

In my own opinion i think if one government banned cryptocurrency in there country, for sure they see alot of negative result in using cryptocurrency in there coutry, but they didn't see the positive result of bitcoin in one country, bitcoin can reduce unemployment, reduce poverty/hunger and helps to emprove the economy, for sure when one government realize that bitcoin can give a lot of benefits in there country for sure they will accept again bitcoin as there currency.

[btcprospecter]

Governments that want to ban crypto do so to protect their own interests. Imo this also comes with a lack of understanding about crypto currencies and the benefits that they have to offer.
In the grand scheme of things bitcoin and all crypto currencies are still in their infancy and time will tell how it stands.

[ngacengan]

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 there are many factors that make bitcoin circulation much banned by some governments of some countries, most likely the government is afraid if bitcoin is used for terrorist financing transactions and so on.

[webdevmastery]

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 affecting the economy of the country and if government think that it will be bad for their own economy then they have no choice but to shutdown cryptocurrency in order for their country to survive.

[Farma]

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 affecting the economy of the country and if government think that it will be bad for their own economy then they have no choice but to shutdown cryptocurrency in order for their country to survive.

perhaps the regulations they develop are against their value. besides, there may be internal factors that make bitcoin getting banned. actually bitcoin can be very beneficial to a society if the government also supports it.

[ov3rflow9x]

The most governments are reluctant to accept bitcoins. China alarmed at the way of digital cryptocurrency can evade government oversight, it has taken the hardest line.

[Kodok Bencot]

The number of false news about bitcoin certainly makes many governments worried about bitcoin, let alone the amount of pressure and fear then the easy way is banned so that the development of bitcoin slows down.

[Tapyaks72]

The number of false news about bitcoin certainly makes many governments worried about bitcoin, let alone the amount of pressure and fear then the easy way is banned so that the development of bitcoin slows down.

The major cause why government is against bitcoin is the tax  collection, if bitcoin circulating in your country and then you cannot collect  because it is anonymous and still no law that will determine how taxes be collected

[themughni]

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

there is several reasons, The goverment ban bitcoin. the bitcoin is safe and anonymous, the transactions cannt be tracked.your identify is safe, and maybe The government doubt if bitcoin is money laundry or corruptor use bitcoin for saving their money.

[hoanghoatham04]

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.

All of your ideas are correct, but I will add a few more. It is possible that the government can not manage Bitcoin and that they can not collect taxes on every Bitcoin transaction. And another factor is that they are afraid of many corrupt people taking Bitcoin money laundering

[Mbah Djoko]

This is a natural thing because many governments think bitcoin is anonymous so the government is worried about bitcoin being used as a place for illegal transactions and money laundering.

[kimochidesh]

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

There are many reasons responsible for the ban of cryptocurrencies. First being, the anonymous nature of cryptocurrencies enables it to be used for illegal purposes like purchase and sale of prohibited weapons or drugs and terrorism and money laundering activities. Bitcoins are self-governed and decentralized. This will make monitoring by government impossible which puts a great threat to the government authorities.