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Author Topic: 5 countries that banned bitcoin  (Read 2984 times)
vnck25
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June 06, 2018, 01:44:45 PM
 #521

All these countries cannot make a huge impact on global economy. So I am not worried about this at all. The more developed countries embrace cryptocurrencies and utilize blockchain technology in their industries and perform well, the non-developed countries would also take that path. So it is a matter of time that these "poor" governments learn from their big brothers and move towards a world of cryptocurrencies. In addition, most of these governments are corrupted and using their centralized nature to control the public and the system. Introducing a decentralized, transparent system would cause havoc in the government establishments, this could also be a reason for them to ban Bitcoins!

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June 06, 2018, 01:53:33 PM
 #522

but what I understand most countries are only negatively affected by bitcoin abuse. Maybe if the positive impacts received by the 5 countries will definitely not be banned for now, but if they think it is the best bitcoin that forbids, then I feel sorry for those who are in jail, Maybe they use bitcoin to fool others, such as money laundering or by trading it with drugs.
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June 06, 2018, 01:58:16 PM
 #523

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley






I think my country will not ban bitcoin, but my country says that using bitcoin was so risky and be wisely in using it. Many countries banned bitcoin, but I know that there is some countries accept bitcoin (like Germany) to buy things, gadgets, foods, etc. And there is some online store accept bitcoin for payment. If you have bitcoin make sure that it is safe, and no one know what is your password because maybe he/she will steal or get your bitcoin.
yuni52
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June 06, 2018, 02:03:22 PM
 #524

in my opinion, it does not matter which country will block bitcoin, which is important my country does not prohibit or block, while not replacing the currency I think it's only natural that we use bitcoin Smiley

Masha Me1
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June 06, 2018, 02:04:48 PM
 #525

I know all Bolivia and Colombia. And the Central Bank of Bolivia adopted a resolution banning the use of Bitcoin as early as 2014.

Alex Foman
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June 06, 2018, 02:06:59 PM
 #526

Let's start with the fact that not five countries, and for the given moment six states have banned Bitcoin.
Karina 3340
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June 06, 2018, 02:10:16 PM
 #527

Yes, I agree with the author that the 6 countries banned Bitcoin are Colombia, Ecuador, Bolivia, Morocco, Kyrgyzstan and Bangladesh
Marcogwapo
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June 06, 2018, 02:12:28 PM
 #528

If the government of that countries legitimize bitcoins that will gain profit for them. But if they banned it maybe they did not make to control it.
Milla Kross
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June 06, 2018, 02:13:11 PM
 #529

And I read that the Asian state of Kyrgyzstan declared the use of any crypto currency illegal, considering it a violation of the laws of the country. Shocked

gelaskopi
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June 06, 2018, 02:14:41 PM
 #530

Some choose to be neutral with bitcoin. They don't support or ban bitcoin. In fact they are confused with the attitude to be taken, and in the end they choose the middle way, that is to be neutral. My country also took a similar attitude. Here bitcoin isn't prohibited, we may have bitcoins, but we aren't allowed to use bitcoin as a means of payment in our country. Because my country has only one legal currency.

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June 06, 2018, 02:14:52 PM
 #531

I don't think it will have a big impact on bitcoin, if all of these countries explicitly say they will ban bitcoin. There are not many investors in these countries. I don't think these countries have more bitcoin investors than Japan.

the prohibition of bitcoin in every country, sometimes this causes the price of bitcoin to decrease dramatically. although it seems only to be rejected, but the effect of the rejection is so great.

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June 06, 2018, 02:33:09 PM
 #532

Government should be not ban bitcoin or cryptocurrency again. As we know that G20 country already said that they will make a good regulation on cryptocurrency.
If government aware, cryptocurrency give many opportunity for their citizen to make income and government should make a good regulation and not ban it
These countries must have a fundamental reason for making such a policy. We must be able to understand and appreciate it. Well, every government only seeks to protect its citizens and economic stability. So be grateful if your country still gives a chance to use cryptocurrency.

arya123210
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June 06, 2018, 02:48:21 PM
 #533

I think almost all countries forbid bitcoin But Which is the question of whether bitcoin ever kills people or performs a criminal action maybe this is all I want to ask you all  Angry
Roy11
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June 06, 2018, 03:32:25 PM
 #534

1. Nigeria
The country has banned the use of digital currencies since January 17, 2017.

2. China
The Bamboo Curtain has banned the use of digital currency since January 8, 2017 because the People's Bank of China (PBOC) will launch its own currency.

3. Colombia
The country located in South America has banned the use of cryptocurrency since December 31, 2016 ago, for fear of bubble or economic bubble.

4. Taiwan
Since November 3, 2015, the country has banned the use of virtual currency due to hacking of bitcoins occurring in the country.

5. Ecuador
The country located on the western coast of South America has banned the use of digital currency since March 24, 2015, because it will issue its own currency.
cherrymobile
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June 06, 2018, 03:39:27 PM
 #535

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley
China also banned bitcoin causs they want to create a new cryptocurrency that they can say that they own. Cause I think that they are starting they can get a new cryptocurrency and the future of money real life was a new cryptocurrency that we you can get away with the flow and other cryptocurrency
Noilee
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June 06, 2018, 04:20:56 PM
 #536

I don't think countries should ban bitcoin because of money laundering. Every existing digital currency has their limit. They may have other reasons in banning bitcoin. I think they haven't seen yet the benefits they can get with digital currencies.
Maybe money laundering is the reason so this is why they banned bitcoin. In my opinion, before they banned bitcoin they will look well also the advantages and the benefits that they can get. Their countries or government maybe afraid that they wont control people. But even if this countries are don't accept btc, there are still many countries believe and want to legalize btc. 

speedy1987
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June 06, 2018, 04:30:34 PM
 #537

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley

actually there are really countries that banned BTC but in the future, they will be more considerate about it. BTC is said to be the future money. As the future currency, those countries which banned BTC will soon remove its ban and will start to adapt and embrace the changes that Bitcoin brings. The world will soon realize that they have no choice but to accept Bitcoin.

BlackRacerX
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June 06, 2018, 04:30:45 PM
 #538

COUNTRIES THAT BANNED BITCOIN

Before we start to our topic this I want to tell that some of you might know about this but I just wanna share this to those who are not.

                Several people believe that bitcoin was a blessing and it was an opportunity
for everyone but not everyone shares the sentiment. From central banks and other finance company, Bitcoin's list of detractors runs for a very long time and gone so deep.But most of the government around the world seeks for the regulation of bitcoin.

                Be due to fear,ignorance and protectionism, governments have a tendency to legislate against perceived threats.Countries such as japan protects its citizens to have free trade of the digital currency.But unfortunately not all countries embracing the change of our technology.In some cases citizens have had their assets seized,accounts got frozen and have been locked up, Government can't stop the blockchain from propagating, but they can stop their people in having access to it.

STOP THE BITCOIN!!

               Like banning drugs,alcohol and other stuffs banning bitcoin sounds nonsensical and unforceable.That's the exact case in five countries:

1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal

It was recently reported in https://news.bitcoin.com/bitcoin-illegal-in-nepal-police-arrest-seven-individuals-for-trading-operations/
that there were dozens of bitcoin and crypto enthusiasts get imprison seemingly guilty of little more than operating a small-scale bitcoin exchange.

Meanwhile Ecuador has outlawed bitcoin, nit because they opposed this crypto but because they want to regulate and control it and tether it with the Ecuadorian dollar.An Electronic money designed to operate ad support monetary scheme dollarization.Completing the naughty list of countries that have banned bitcoin is Kyrgyzstan, a tiny landlocked state in Central Asia,
And Bangladesh banned bitcoin, it was 2014 where Bangladesh bank stated that anyone that will be caught using such online currency could be jailed mostly because it's about "MONEY LAUNDERING".


this was already an old news for updated list

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory


so what do you think? will your country will ban the use of bitcoin?
do you know other countries that ban the bitcoins?
Please share it and tell to everyone Smiley

I think countries should be open to changes and these changes would start with cryptocurrency. I think the Philippines, the country I'm currently living on, isn't open to bitcoins but are not closed to idea of the presence of cryptocurrency in the country. Probably a decision within the government is at works and how I wish they promote it and not ban bitcoins.

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June 06, 2018, 04:44:43 PM
 #539

i think 5 countries is
1.Bangladesh
2.Bolivia
3.Ecuador
4.Kyrgyzstan
5.Nepal
crystalworld
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June 06, 2018, 04:47:06 PM
 #540

Thailand- The Thai treasure banned bitcoin outright.


China – The Chinese treasure enacted policies on bitcoin that pretty much restricted the use of the virtual currencies.

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.

<p><strong>Germany</strong> – The German government and central bank&nbsp;Bundesbank&nbsp;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!

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.
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