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Author Topic: Reason why other ban cryptocurrencies  (Read 3753 times)
kenlyresuello08
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August 21, 2018, 06:13:27 AM
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#1

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
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August 21, 2018, 03:25:16 PM
#2

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
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August 21, 2018, 03:31:46 PM
#3

I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.
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August 21, 2018, 04:05:27 PM
#4

that doesn't make sense.
for instance imagine you want to launder money or transfer money outside of country. you currently have other ways of using fiat and doing this safely, without any trace and with no risk of value loss. if you launder $1 million you get $1 million dollar clean money.
but now imagine you use bitcoin to do it. first you leave a trace behind that is easy for everyone to see. then you are risking losing a lot of money. if you put $1 million in and bitcoin loses 10% (a common drop like from $6600  down to $6000) then you lose $100,000 easily!

now tell me who is going to choose bitcoin over traditional methods of laundering money?

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August 21, 2018, 04:20:58 PM
#5

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

How about money coming in from the country because of cross border payments then? It could help their GDP specially coming Christmas time. Asia alone has the bulk of this remittances so I guess that argument is flawed. Its p2p, we don't need banks. And that is not the problem of the technology itself. And I don't understand why they keep on attacking bitcoin but then they take advantage of the technology behind, blockchain.

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August 21, 2018, 06:34:33 PM
#6

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Stop with the non-sense money laundering argument.

https://news.bitcoin.com/cryptocurrency-harder-launder-fiat-currency/

And why would transferring fiat to crypto would lead to poor economic performance? How many people are converting local money to fiat? Do we have any idea on that?

Yes, I would have to agree that it has something to do with control. Countries like Russia and China doesn't want anything that they can't control so its very evident on their hard line stance against crypto.

But its not a threat whatsoever, imagine Venezuela or Zimbabwe, without bitcoin, those people simply not going to survived the economic turmoils they are facing.

Venezuelans Survive on Bitcoin
How bitcoin has become Zimbabwe's crisis currency

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August 22, 2018, 11:47:23 AM
#7

that doesn't make sense.
for instance imagine you want to launder money or transfer money outside of country. you currently have other ways of using fiat and doing this safely, without any trace and with no risk of value loss. if you launder $1 million you get $1 million dollar clean money.
but now imagine you use bitcoin to do it. first you leave a trace behind that is easy for everyone to see. then you are risking losing a lot of money. if you put $1 million in and bitcoin loses 10% (a common drop like from $6600  down to $6000) then you lose $100,000 easily!

now tell me who is going to choose bitcoin over traditional methods of laundering money?

Your scenario is right in theory,but money laundering does not always mean executing "real" transactions,like buying bitcoin,ethereum,monero,some other asset or real estate.Those transactions are only on paper(fake purchases,fake loans,fake contracts),in order to fool the authorities.The real money are "laundered" without moving and without changing their owner.
The OP is right in his threa that the governments keep the stupid crypto=money laundering  propaganda,while crypto isn't involved that much into money laundering.


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August 22, 2018, 11:54:55 AM
#8

The main reason for any country to ban cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.

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August 22, 2018, 11:56:29 AM
#9

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

How you can prohibit Bitcoin if you cannot regulate (don't have control over it) Bitcoin ?=)

Yes, governments are trying to stop it; but all that they can do is just slow down the trend.
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August 22, 2018, 01:09:15 PM
#10

To cut it short, The government don't generate money from it and they can't control nor track transactions from it that's why they banned it.
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August 22, 2018, 01:42:02 PM
#11

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
The reasons why  cryptocurrencies are banned because of security issues. The other group of reasons are usually not stated officially but is largely implied. It is directly associated with cryptocurrencies being decentralized.Cryptocurrencies make it easier for criminals and online fraudsters to demand payment no one can control it.
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August 22, 2018, 01:49:49 PM
#12

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
The reason why cryptocurreny banned because it can be used for illegal transactions such as buying and selling drugs or weaponry. According to central bank officials, cryptocurrencies can also be used for money laundering or terrorism.Legality is one of risks in cryptocurrency investments. if there is a problem with regulation you risk lost all of your money
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August 22, 2018, 02:07:40 PM
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The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, it is truly indeed dangerous to have cryptos to any of the economic zone, but somehow someday people will realize it all that they can self control their own funds through crypto currencies or digital currencies. For that, they will have the freedom to do and buy anything for their own.
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August 22, 2018, 02:36:48 PM
#14

So many discussion about crypto currency ban in the nation was pit into discussion. The only things that usually came up after discussion are as follows that make them ban crypto currency.
1. Market uncertainty
2. Somehow a kind of market manipulation
3. Decentralized
4. Protecting their people to be a victim of scam
Among others.
This should be address before crypto currency will be totally accepted worldwide.
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August 22, 2018, 02:44:51 PM
#15

On my own opinion, they are banning cryptocurrencies because it actually is a danger to their society and government. The most affected person are those type of investors who don't know what they are doing and only focusing to how they can profit but not on the possible losses for their investment. Cryptocurrency is still maturing and consider as risky investment.
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August 22, 2018, 02:45:10 PM
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The simple reason they band crypto and bitcoin because they wanted to control and manipulate bitcoin like fiat. but they can't. and they see it as a danger to their economies.

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August 22, 2018, 02:50:13 PM
#17

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
I think the Reasons for banning cryptocurreny are their high volatility and also that many illegal activities can be conducted via transactions using these coins.Government can't control cryptocurreny transaction.
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August 22, 2018, 03:03:40 PM
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The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
If we are basing on our experience regarding on banning of crypto currency well I think because they cannot get tax on it they will no income because no one would pay for tax in each country and they cannot handle or control on how the blockchain work, aside from that many people use this for some illegal transaction so government would not detect each transaction and they are just protecting people to avoid being scam because they have not enough knowledge regarding on blockchain.
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August 22, 2018, 03:08:16 PM
#19

They have simply failed to understand it. They judge it based on past online scams.
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August 22, 2018, 03:08:41 PM
#20

Well i guess you can say that and maybe it would be true. My take on it is that banks are twisting the arm of the government because they're threatened by crypro currency. I mean why would an ordinary citizen take their money to thenbank to just sleep when they can invest it on crypto currency and watch it grow.

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August 22, 2018, 03:13:04 PM
#21

bitcoin is banned in some countries because the government has big reasons such as money laundering between people and even buying and selling drugs, and the government cannot regulate bitcoin but in fact now bitcoin is the most popular now.
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August 22, 2018, 03:13:16 PM
#22

The main reason is the crypto market is too risky for users with big scams such as Ponzy structure Bitconnect or rogue ICO scam and then disappeared. Another reason is that if the crypto is open to the public, the state is afraid of managing the market because of its anonymity. But I believe that gradually crypto will be recognized if more transparency and stability in the future.
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August 22, 2018, 03:18:36 PM
#23

The Bank is wondering of the blockchain technology will replace and take over it. If the users always increases, the bank will lose the customer. Every one will not need the Bank because they are freely get in their accounts and transfer and other transactions. Automatically, it will suffer a severe deficit for the Bank in that country which legal and apply blockchain. Therefore, many Bank in many country are wondering and disturbed by this new technology.
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August 22, 2018, 04:04:40 PM
#24

Because they can't control crypto.They for illegal activities among criminals and provide an adoptable platform for laundering proceeds of cybercrime resulting in greater chances for crime usage.
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August 22, 2018, 04:10:18 PM
#25

Transfers with cryptocurrencies is an easy way to avoid paying taxes. Extremely anonymous coins like Monero, ZCash and PIVX are the biggest threat for them.

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August 22, 2018, 05:06:53 PM
#26

Ah! Thats not upto the mark mate because nothing like that happens. I dont think that crypto currencies are banned because the national currency is not used on large scale when we are using the crypto currency. The national currency is always used because it is the only medium via which we can buy there real things and crypto itself. When you go and sell the crypto then you convert them to the fiat and thus the money comes back to the national circulation. However, there is one more point, these currencies are not getting affected because the crypto is minute to show its effect on them!


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August 22, 2018, 05:10:30 PM
#27

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Of course they fear of something getting funded into illegal means that's why they decided to ban it. You never know where that precious gold converted into digital money is being transferred at. Cryptos aren't fully anonymous. With the use of Blockchain, such provided or linked addresses can be used to track these people transferring funds with illegal reasons. A regulation is good but a ban is obviously not gonna be a good health/day for any cryptocurrency.

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August 22, 2018, 05:35:13 PM
#28

That is a big lie.

It could be used for money laundering and another criminal activities, yes. So does cash. Ask a criminal organization if they will disappear without Bitcoin - If even half percent of them used it.

The main reason comes because of the fear for decentralization Bitcoin provides. It could be because the regime is authoritarian or because banks are paying good money for it. Eventually they will figure out they can't stop it and they have no choice but to regulate it, so it brings taxes towards the government.

Like any tool, it can be used for good or bad. Depends on who is the one using it.
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August 22, 2018, 08:53:08 PM
#29

Of course,  it's no new thing that the government and the banks dislike cryptocurrency because it too transparent for them and they like wise won't be gaining much.

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August 22, 2018, 09:33:55 PM
#30

Ah! Thats not upto the mark mate because nothing like that happens. I dont think that crypto currencies are banned because the national currency is not used on large scale when we are using the crypto currency. The national currency is always used because it is the only medium via which we can buy there real things and crypto itself. When you go and sell the crypto then you convert them to the fiat and thus the money comes back to the national circulation. However, there is one more point, these currencies are not getting affected because the crypto is minute to show its effect on them!
Eventhough other countries banned cryptocurrency, I don't think it affected a lot trouble to us because of the decentralized system that cryptocurrency has. The government was the main issue why this happened banning of cryptocurrency, some reason may focused on fraudulent cases thar has gone too rampant. Most of the people was having more issues against their investments turning out to bubble, or had been scammed. Many factors to be considered, but other people who wanted to use bitcoin or any other crypto investments remained anonymous and still uses cryptocurrency despite of the banning issues.


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August 23, 2018, 12:40:36 AM
#31

The one reason is the perception of the citizens that live in a certain country. They perception in this program or project is dishonest scheme or fraud. In my country, when you tell a question about bitcoin the usually say this is scam,  phishing, etc. Before implementing in certain country they should need a clear view about this program specifically bitcoin.
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August 23, 2018, 01:07:51 AM
#32

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

i agree, every government are up to controlling every currency that their county is dealing with, the main reason it cannot be taxed is like saying the government cannot milk on that currency, perspective matters, but in the european continent, where crypto are not an issue because the government are not after the benefit that they can get out of cryptos, they are pro-people and not interested in earning thru taxing crypto. too bad not all countries are like that of the countries in europe.

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August 23, 2018, 01:25:21 AM
#33

I agree governments want to have control over the currency being used in a country, but I don't agree with the money laudering thing. This kind of activity is practiced for a long time already, and it's not Bitcoin that will give more or less power to those who practice this.

The control governments want is much more related to TAXES. That is the point. When you deal with the country's official currency, you are generating income for the government: international or national transactions. Without these taxes the government can't survive as the well-doer, the benevolent charitable and then its mightiness is in risk! They want people depending on the government, and Bitcoin threats this relation between state and people.

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August 23, 2018, 01:31:47 AM
#34

They  wont allow cryptocurrency to rule on thier country specially banks thays why they ban bitcoin, they think bitcoin is used in illegal activities but still they dont have proof on it.

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August 23, 2018, 02:20:29 AM
#35

Well the reasons why some of the countries didn't implement to use cryptocurrencies is beacause of the high risk.
We all know how risky it is. They don't have an expert to examine the security of the cryptocurrencies. They don't really know how blockchain works and they need time to review  it. They don't see what will be the use of cryptocurrency. And maybe their governments won't make money or big taxes from it.

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August 23, 2018, 03:14:32 AM
#36

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, they fear of the bitcoinís unregulated market and is volatile that cannot be controlled. Other countries are hesitant of the new technology and cannot afford to risk the peopleís investments. They are just being concerned of the peopleís welfare.
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August 23, 2018, 05:52:32 AM
#37

Bitcoin has been banned in other countries because their governments have a very strong reason like a money laundering among people because of this man has so many bad practices so the government can hardly accept anything, as now many buyers and sell prohibited drugs, and the government can not regulate bitcoin but in fact now bitcoin is called the most popular in the whole crypto world in the country today.
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August 23, 2018, 06:14:34 AM
#38

I think t is because market is unstable and it is decentralized. It can also used for any illegal transactions.

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August 23, 2018, 06:50:23 AM
#39

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, they fear of the bitcoinís unregulated market and is volatile that cannot be controlled. Other countries are hesitant of the new technology and cannot afford to risk the peopleís investments. They are just being concerned of the peopleís welfare.
Bitcoin is regulated, but usage is not. Satoshi didn`t plan to ban anything, if you have bitcoins you can buy what ever you want without restrictions, what you do with your own money is your thing. I don`t understand what means `its easier to launder money or transfer funds outside the country` from which country, in which country? Money laundry is done by the banks, not by the people. I can`t do that, can you? No you can`t, you need banks, you need companies. Banks and payment processors, third party services that work directly with banks have very high interest, I don`t care even if they collapse one day, they stole a lot of money already, maybe its enough.

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August 23, 2018, 07:45:43 AM
#40

I think this may have something to do with the dollar. The dollar is very strong this year, which will lead to the loss of capital in countries with fragile economies, so the government has banned cryptocurrencies.
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August 24, 2018, 07:39:57 AM
#41

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
In my opinion, I think they are banning cryto currency it is because it is a decentralized. The government doesn't have the rights or to regulates crypto for it must have to undergo taxation.
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August 24, 2018, 07:53:40 AM
#42

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
From some of the articles that I read about the ban on cryptocurrency, for example, China is based because large users in their country cause economic influence, they also monitor cryptocurrency and are at great risk for several reasons that cause fraud. While money laundering is not right in my opinion because we know for ourselves that the KYC system is used now in many exchangers, careless actions if you use crypto to money laundering. So far only that reason I validate while the other is an assumption from the user itself.

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August 24, 2018, 08:20:05 AM
#43

perhaps a strong reason is indeed money laundering. by utilizing cryptocurrency, it can be done. therefore, each exchanger has KYC requirements for spending a lot of money, thus, it can be minimized a little.

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August 24, 2018, 08:39:59 AM
#44

The control governments want is much more related to TAXES. That is the point. When you deal with the country's official currency, you are generating income for the government: international or national transactions. Without these taxes the government can't survive as the well-doer, the benevolent charitable and then its mightiness is in risk! They want people depending on the government, and Bitcoin threats this relation between state and people.

It's actually not about taxes. Bitcoin can already be taxed since the existing system (that has been in place for decades) covers pretty much everything. It's just people who assume that they don't have to pay taxes because Bitcoin isn't legalized or regulated. It's false.

Also, crypto in its entirety is still a niche market, so what's the government exactly losing when you don't pay due taxes? If there was no crypto there would be no extra tax income for them at all, so in all cases they should be happy that at least some (which will only increase) people pay tax over their gains and whatnot.

Bitcoin is a tool allowing you to store your wealth outside the traditional banking system where governments and corporations no longer can terrorize you. If the government controls your finances, it controls you. If the government can't control your finances, they can't do shit other than to change their attitude towards you in a positive manner, because you are the one in control now.

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August 24, 2018, 08:43:33 AM
#45

for me there could only be two reasons 1)which is the local government does not have control over bitcoin 2) They have no access if transactions are done and illegal stuff are being transact.

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August 24, 2018, 12:01:10 PM
#46

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
the government always don't like something that they can't control, when they can't control something it means they can get any profit or benefit from it
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August 24, 2018, 01:39:42 PM
#47

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

The simpliest answer is, there are some countries that cannot handle the growth of cryptocurrency because their economy is not going well.
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August 24, 2018, 02:53:56 PM
#48

That's one thing why some countries are restricting their people to use bitcoin.

But IMO, the main reason is to avoid their citizens to be involved with funding any rebel or terrorist group which can be done through crypto transactions. Another reason is to avoid also illegal activities where their citizens can also take that advantage.

It has been popular before when bitcoin isn't on the mainstream but now its being used and adopted from many countries where it is used as a means of payment through good transactions and is being regulated to generate the government tax profit.

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August 24, 2018, 03:35:53 PM
#49

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
I know Satoshi Nakamura's purpose of inventing bitcoin which gave birth to cryptocurrency and decentralization is for the common good. But there are just people who abused the use of this. That is why the government is reluctant about this.
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August 24, 2018, 05:29:41 PM
#50

The control governments want is much more related to TAXES. That is the point. When you deal with the country's official currency, you are generating income for the government: international or national transactions. Without these taxes the government can't survive as the well-doer, the benevolent charitable and then its mightiness is in risk! They want people depending on the government, and Bitcoin threats this relation between state and people.

It's actually not about taxes. Bitcoin can already be taxed since the existing system (that has been in place for decades) covers pretty much everything. It's just people who assume that they don't have to pay taxes because Bitcoin isn't legalized or regulated. It's false.

Also, crypto in its entirety is still a niche market, so what's the government exactly losing when you don't pay due taxes? If there was no crypto there would be no extra tax income for them at all, so in all cases they should be happy that at least some (which will only increase) people pay tax over their gains and whatnot.

Bitcoin is a tool allowing you to store your wealth outside the traditional banking system where governments and corporations no longer can terrorize you. If the government controls your finances, it controls you. If the government can't control your finances, they can't do shit other than to change their attitude towards you in a positive manner, because you are the one in control now.

Bitcoin can be already be taxed, but it can be used without paying taxes too, it's possible and most people go through this way. On the currently time it's still a niche, as you say, but don't governments think on long term, on what Crypto-Currency can become? And for them it's better to be prepared since now for what is coming, as it's inevitable.

The finances control point is valid too. There are many decentralized investment options nowadays without frontiers thanks to Crypto-Currency, it removes the money from the banks hands, so they can no longer make an huge profit and give you a little percentage of the total profit. The relation between banks and governments is too strong, if you affect banks income the government will suffer.

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August 24, 2018, 06:38:48 PM
#51

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
The explanation to this is simple they are afraid to lose their power, governments love to control their population, many governments think they own you despite that being completely false, this is why they feel entitled to know everything about you but bitcoin is going to take that power away from them and they are afraid of that, they are thinking about how they are going to regulate the society as much as they can today and the simple answer is that those days will be over soon and they do not like it.

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August 24, 2018, 07:00:19 PM
#52

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
not only that, I have heard various reasons related to the refusal of bitcoin.
but it's not entirely comprehensive, I think the comparison between those who agree and disagree with the presence of bitcoin is 50:50. that's my personal opinion.
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August 24, 2018, 09:00:20 PM
Last edit: August 27, 2018, 02:09:04 AM by maarx
#53

Fiats price drop would be a main reason behind banning of crypto currencies. Its purely a competition between fiats and crypto cirrencies in the market. The investment is falling on crypto currencies then on fiats. Circulation of currencies matter. Govts rely on fiats and encourages their citizens move with fiats ratjer then crypto currencies, thus they ban crypto.



























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August 25, 2018, 01:16:52 AM
#54

There are so many reasons why crypto being banned, the crypto doesn't really give a good benefit to the country, the country cant control it and its easy to do tax evasion, the money laundering reason is a bit absurd, but the government will used a lot of ways to surpress crypto movement, and as long as the government cant gain control, the government will not accept crypto
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August 25, 2018, 02:09:31 AM
#55

The reason of why orher ban cryptocurremcy, because they are not in campatible with it, the  government of a certain country ban crypto currency ,because they want to regulate it but bircoin does like the terms of the government, do that is why there are many countries who do not accept cryptocurrency.
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August 25, 2018, 03:21:57 AM
#56

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.


Other Country usaully ban of crypto currency because they are not totally ready to use it because of a lack of resources to facilitate of all mandate related to bitcoin, example internet facility and electricity is  main important uses that could be use to bitcoin that's why other country are not approved to use bitcoin. 
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August 25, 2018, 04:01:20 AM
#57

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Other countries ban Bitcoin maybe because they might see something like a threat to their own local currency or it can be used in any illegal activities like buying of drugs, weaponries, fruads and of course funding of terrorists. Governments also is concerned about something they cannot control that is why sone countries prohibit the use of cryptocurrency. I am very happy as my country just regulate our local cryptocurrency exchange instead of implementing a total ban on it.
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August 25, 2018, 04:10:22 AM
#58

It all depends on how the government handle the crypto like bitcoin for their economy like Japan for example they did not ban BTC instead they embraced it and allow it as a legal tender and that time it rallied the value of bitcoin a year ago.
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August 25, 2018, 05:33:01 AM
#59

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Well, cryptocurrencies are quite bad and can even have serious bad effects on a countryís economy, but apart from that there are still people who has managed to achieve success with the help of cryptocurrency. Lots of people has gone from being poor to being rich and it was all due to they got into cryptocurrency. 

So everything that has a disadvantage,  check it, there is always an advantage too. There are lots of countries trying to stop bitcoin, and there are also countries that donít care about it.
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August 25, 2018, 05:40:27 AM
#60

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
In my opinion, I think they are banning cryto currency it is because it is a decentralized. The government doesn't have the rights or to regulates crypto for it must have to undergo taxation.
Well,  youíre right and the op is also right about what he or she said. Some governments are not really looking at taxes, they just want to stop it cause they feel it is very bad for their citizens to be using such a thing as cryptocurrency ,and as OP said, there are chances that it can lead to poor economic performance. Itís still the same thing as you said though, they want something they can be able to regulate.
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August 25, 2018, 05:45:23 AM
#61

Some government banned bitcoin for some many reasons like they cannot control our transactions because it was decentralized.They want to regulate it and gave by law by bitcoin.But their reasons are not enough to end crypto.
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August 25, 2018, 08:38:01 PM
#62

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Most of the politics guys in my country are just afraid that bitcoin and cryptocurrency integration will prevent than to steal money as they used to do before, and so they would not allow it.
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August 25, 2018, 09:59:55 PM
#63

Well, I admit that bitcoin cannot be regulated and that it has been recognized by them, especially officials working in the field of state finance. The act of money laundering's actually very easy to do they can convert/spend it into the form of gold or diamonds. So not only on bitcoin only (this's just a classic reason lazy governments) which can only scapegoat bitcoin.
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August 25, 2018, 10:09:48 PM
#64

Also reason why other ban crypto currency is because some criminals use it in some illegal activities for example buying drugs and some porn sites to use it as payment method. Those are the reason why crypto currency is not legal in some country because the transaction record in crypto is not traceable.
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August 25, 2018, 10:27:49 PM
#65

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
In my opinion, I think they are banning cryto currency it is because it is a decentralized. The government doesn't have the rights or to regulates crypto for it must have to undergo taxation.
Well,  youíre right and the op is also right about what he or she said. Some governments are not really looking at taxes, they just want to stop it cause they feel it is very bad for their citizens to be using such a thing as cryptocurrency ,and as OP said, there are chances that it can lead to poor economic performance. Itís still the same thing as you said though, they want something they can be able to regulate.
Many countries around the world have accepted and accounted for Bitcoin and some cryptocurrency in the transaction. That is a very good move for the cryptocurrency market to develop now and in the future.

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August 25, 2018, 11:03:42 PM
#66

This prohibition may be because bitcoin is very difficult to control, with such conditions, our economy will not be stable and will even deteriorate, especially for countries that are still developing it is not good.
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August 26, 2018, 03:16:12 AM
#67

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Many government ban cryptocurrency like bitcoin because disrupting banks bussiness and can not control bitcoin supply. Bitcoin is good for economy if applied on monetary government system.

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August 26, 2018, 03:28:13 AM
#68

the value is considered too speculative and quite high risk, so the government does not want to take big risks to its people. besides, cryptocytes that are anonymous are vulnerable to be used as a tool for transacting illegal goods.

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August 26, 2018, 03:41:44 AM
#69

In present time many national currencies are less using than crypto and the online market is expanding due to the crypto currencies and in future the scope will be more vast and in short time the fiat money will be just for those who are not able to utilize the crypto and some time crypto ban which is decentralized nature of it.

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August 26, 2018, 01:53:08 PM
#70

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Many government ban cryptocurrency like bitcoin because disrupting banks bussiness and can not control bitcoin supply. Bitcoin is good for economy if applied on monetary government system.
The main reason why cryptocurrencies are getting banned because they are decentralized and no government or Central Bank has any direct control over them.Cryptocurrencies although are a good source of earning money and that too in a quicker time period but still they are very risky as they are very volatile and unstable.Cryptocurrencies are used by a small percentage of people all over the world.They are internet regulated which cannot be possible in every corner of the world.
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August 26, 2018, 02:24:35 PM
#71

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
The reason behind the banned crypto has to do with risk assessment, loss of profits, lack of control and both mutual and sided interests.Although some of the banned have their good reasons behind, many are quite unreasonable. Generally, the idea is that Crypto is decentralised and therefore isnít controlled by anyone.
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August 26, 2018, 02:26:55 PM
#72

One of the reason I think crypto is being banned because lots of people are iusing crypto to scam other. Another one is the government doesnt want it because they cant control people who uses crypto because of its peer to peer transactions.

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August 26, 2018, 03:13:00 PM
#73

Some  countries have no laws and regulations about cryptocurrency; if there were, it is not that strong and does not apply to all kind of circumstances. With this, they might have resort to banning it altogether for the meantime until they know how to tackle and incorporate it to their economy.

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August 26, 2018, 05:03:08 PM
#74

there are main reasons the prohibitions against cryptocurrency. at least those factors are
1. the cryptocurrency mechanism is different from the current mechanism. it takes decentralized that categorized as a threat and doesn't any fit regulations to control those.
2. unknown parties have possible to do money laundering, so hard to detect with authorized financial regulations to track them. it broadens risk against the clean policy about fund resources belongs
3. there are not official regulations that control the fund within the market. it is impossible for them to make/search/intertwine mutual agreement that relates to policies or anything else. no one has take the responsibility.
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August 26, 2018, 09:11:18 PM
#75

I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.


I agree. I think many governments want to save themselves, especially the businesses, and most especially, the people under their jurisdiction. Bitcoin and the cryptocurrency market, in all its glory, is still a market filled with volatility and instability that can certainly affect how many investments will go. With that said, by screening and deeming Bitcoin illegal, a country may save their people from such high risk.
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August 26, 2018, 09:21:51 PM
#76

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Maybe it's from the government of the country who don't want their economy to be chaotic, so they prefer to ban the crypto currency in the future. But maybe they will change their minds.
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August 26, 2018, 09:55:37 PM
#77

Some  countries have no laws and regulations about cryptocurrency; if there were, it is not that strong and does not apply to all kind of circumstances. With this, they might have resort to banning it altogether for the meantime until they know how to tackle and incorporate it to their economy.
Not applicable, there are many issues to address. This may be due to money laundering, corruption. These difficulties lead to unacceptable electronic money.

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August 26, 2018, 10:48:09 PM
#78

Regulations is key to mainstream adoption of cryptocurrency. Part of government power lies in both fiscal and monetary control and idea of digital currency challenge both authorities. This is foremost among reasons for bans and restrictions.

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August 26, 2018, 11:15:59 PM
#79

Some  countries have no laws and regulations about cryptocurrency; if there were, it is not that strong and does not apply to all kind of circumstances. With this, they might have resort to banning it altogether for the meantime until they know how to tackle and incorporate it to their economy.
Cryptocurrency is increasingly asserting its position as it has gradually gained great success and attention from the investment community. I would like the market to grow and become a big financial market in the world in the next few years.

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August 26, 2018, 11:36:00 PM
#80

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
I think everything has their own pros and cons and this is what the cons i think, on the banking society. Whereas bitcoin doesn't really need a banks to put their own money where the government can lock them down with or without your permission and this is what the pros of bitcoin. But they shouldn't worry bitcoin because there are some regulations already that has been approved but they still have to apply it to their country.

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August 26, 2018, 11:56:43 PM
#81

Yes, certainly this is correct as I have noticed that also. When people move money from their country out, the country loses that certain money and because it is done digitally there is little control of what and where will these money be used for. So it is like it is wasted if not used properly.

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August 27, 2018, 01:54:41 AM
#82

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.
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August 27, 2018, 02:09:51 AM
#83

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.
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August 27, 2018, 02:14:52 AM
#84

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.

Yes no one can trace it at this time, because government did not already discover a machine detector for a digital currency. And i think it is not good also for our ecinomics.
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August 27, 2018, 02:16:11 AM
#85

so make the bitcoin a rule when it violates it immediately and becomes a band. this crypto with bitcoin is the reason they want to control it and manipulate a bitcoin like fiat. they are all things they can not do. and because of them they will find it a risk to their economy.
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August 27, 2018, 03:33:04 AM
#86

It is simple. As crypto currency has no control or no record, so any one can do laundaring. Any one can transfer money to one to another without any info. That's why others ban cryptocurrencies.

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August 27, 2018, 04:04:14 AM
#87

In addition to these factors the use of cryptocurrency is prohibited by government  due to high fluctuations so the government fears that fluctuations will affect the country's economy

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August 27, 2018, 06:14:41 AM
#88

They are just simply afraid and skeptical to this opportunity and the technology behind this so called cryptocurrency and it serves as a way for them to ban cryptocurrencies and they are putting negative thoughts and news about bitcoin to their citizens because that is how they can manipulate and make their open minded to a close minded one.
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August 27, 2018, 07:08:32 AM
#89

I think the reason why countries and institutions prohibite bitcoin is because it will take Jobs from the hands of financial institutions and power from governments.  Our governments will not like a system that is decentralized and thus will ever fight such system.
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August 27, 2018, 09:13:04 AM
#90

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

I think most government ban and prohibiting bitcoin because they dont have regulation to collect taxes. Many country right now preparing regulation on cryptocurrency so government can collect taxes from crypto transaction. I am believe in the end, government and regulator will approve cryptocurrency because government want to collect taxes and crypto transaction growing bigger every year

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August 27, 2018, 10:20:13 AM
#91

I think most countries ban cryptocurrency because of the anonymous structure of the blockchain technology....which is indirectly encouraging criminal activities like...money laundering, drug trafficking etc.
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August 27, 2018, 11:12:25 AM
#92

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance

And you really believe that? I don't know where you get this but it's definitely absurd. And how does a digital currency affect the economic growth when in fact it doesn't acknowledge by the government. And you can't accuse bitcoin that can be use in money laundering just because it's decentralized. I mean if someone is really up to it he definitely find a way beyond what you can think of.

"Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Because government is afraid that this can eat them as a whole. They just afraid from their shadow.
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August 27, 2018, 11:22:23 AM
#93

It is simple. As crypto currency has no control or no record, so any one can do laundaring. Any one can transfer money to one to another without any info. That's why others ban cryptocurrencies.
Reason is the anonymity of the transactions and, therefore, the difficulty in tracking the source of money. The banks claiming strict adherence to know-your-customer norms to prevent money-laundering.
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August 27, 2018, 02:39:53 PM
#94

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.

Because it is a digital currency than the transaction through online, no one can cotrolled it. It can be used for the bad transactions because no one can trace it.
Well, that fact with the government not having the power in their hands as usual is one major threat to them and one of the reasons they have been trying as much as possible to put a huge strong hold in the space. It is a deregulated or simply say decentralized space and that simply goes against the normal form of government ways of doing things with regulation. Apparently, we should expect there is no way it wont end up this way until either one would have to succumb, or both will just have to go hand in hand to make everyone happy.
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August 27, 2018, 05:01:05 PM
#95

In addition to these factors the use of cryptocurrency is prohibited by government  due to high fluctuations so the government fears that fluctuations will affect the country's economy
But I believe they just ban it because they do not understand the whole concept, the people higher up who are doing these banning and outlawing and all that just doesn't know what crypto is and they are banning because of the bad news they have heard some time ago.

If someone with a bit of knowledge of bitcoin and crypto in general has a shot, they probably will be delighted to put regulations on bitcoin. Think about it, governments are always looking to make extra money, so why not just make money from putting some taxes on the profits of people on bitcoin ? Think about it last year when bitcoin went up everyone paid a lot of taxes, now those people are not making any money but government already made a profit from those people.


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August 27, 2018, 05:33:23 PM
#96

Bitcoin can work (and has been working) without government intervention or regulation. It will become mere fiat currency If they(governments) succeed in regulating it .
If they succeed, they will most likely take away its important features such as, transparency, anonymity, censorship resistant,  permissionless,  Decentralization etc
Is that what you want for Bitcoin/Cryptocurrency? If yes, why are you using it in the first place? You currently depending on a system you don't like.






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August 27, 2018, 11:01:10 PM
#97

The government have a reason why they ban bitcoin or cryptocurrency in their country because it happen to my country last year when the value rise up to $20,000 because they are avoiding scammers just like other country we don't know what is the main reason but as i think government wants also to control the money and avoid scammers. We know cryptocurrency it don't have any regulations so that government was afraid to the negative result of cryptocurrency.

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August 27, 2018, 11:25:56 PM
#98

because definition of anonymous in financial there are still many who think it can be used to make payments for illegal goods or services. and also they only avoid it even though the fact is that it is certainly not possible to happen in a country directly, they must provide a solution, not just ban.


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August 27, 2018, 11:38:20 PM
#99

Many countries fear that digital currencies like bitcoin will pose a great threat to the financial stability of their nations economic system.

Digital currencies like Bitcoin operate with a decentralized system that is not regulated by central banks. This could create a great challenge for the financial system since digital currencies will not have a stable exchange rate that is controlled by the central bank
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August 28, 2018, 12:19:45 AM
#100

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
The reason why cryptocurrencies ban. because other country doesn't know what cryptocurrencies means.. They not know what is this that's why they ban.
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August 28, 2018, 01:04:57 AM
#101

I think the most common aspect why other countries keep banning cryptocurrency is due to the security measures. Many already become a victim of scams at many still doubting if there is someone who is manipulating the prices of cryptocurrency.
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August 28, 2018, 01:21:08 AM
#102

bitcoin and crypto are feared because they are used as a means for money laundering and this is logically correct, but in our country suspicious or fantastic interbank transfers will not be easy because all there are reasonable minimum transfer procedures with certain reasons or objectives. So here the role of the state is still there even though it will be for crypto purchases, but this purchase will cause a change in the local currency to crypto so that the country can see and analyze where the money is going
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August 28, 2018, 01:37:57 AM
Last edit: September 16, 2018, 01:04:44 PM by Zalura
#103

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis

it seems that many governments are wrong in making decisions about cryptocurrency, maybe they don't understand how digital currencies work, cryptocurrency strongly supports a country's economy by providing many conveniences in making payments between countries

maybe they just look at the negative side of bitcoin that can be used by criminals However, we have to look at the inter-state payment system that can be done very quickly without being constrained by the complexity of a country's regulatory system

so it is certain that buying and selling activities between countries will increase and the country's economy can be greatly helped.
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August 28, 2018, 02:02:19 AM
#104

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
The reason why cryptocurrencies ban. because other country doesn't know what cryptocurrencies means.. They not know what is this that's why they ban.
I think they know only from the negative side and determine the policy only from the bad side. bitcoin poses a threat to local currencies so many countries forbid it. that is from the negative side. of course there are positive aspects such as financial benefits for many people and so on
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August 28, 2018, 02:18:13 AM
#105

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.


They're right, it is a Danger....Danger to their fortunes. Banks are just making much more money that they don't even need. The big interests just goes to them and not all to the government. And even after the government received some amount from it, it is already dwindled down because the officials have already shared some of its portion.
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August 28, 2018, 02:34:36 AM
#106

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.


They're right, it is a Danger....Danger to their fortunes. Banks are just making much more money that they don't even need. The big interests just goes to them and not all to the government. And even after the government received some amount from it, it is already dwindled down because the officials have already shared some of its portion.

that is the thing that the government want to stop they dont have the control since it will over the internet it is hard for them to monitor each and every transaction that is happening, people and government officials can transfer money without a trace with their identity.

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August 28, 2018, 11:32:51 AM
#107

You are right but in this situation there is not much they can do about it. There are already untracable, anonymous coins. They will have to legalize it sooner or later.

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August 28, 2018, 01:06:11 PM
#108


McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.

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August 28, 2018, 04:47:45 PM
#109

The goverment from many country is worry whe the money in his teritory is going in other country who can his country in bad condition and its can makr a crisis
No government never want something in their country which they cannot control and which can be affect their country economy or financial markets. Cryptocurrency are decentralised nature is the main point of view around this topic. Another thing is its untraceable and uninterrupted money transaction facility. This facility attracts many anti social people to use this kind of money transaction medium for their various crime purposes like kidnapping, cyber attack, malware attack etc. So it is another reason behind this topic. Another thing is its volatility which affects an country share market.
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August 29, 2018, 05:37:48 AM
#110

In contrast to the claims that those countries who banned cryptos are just afraid for the decrease of their GDP, Japan, for instance, states that because of their full adaption of cryptocurrencies, their GDP has grown significantly than those times when cryptos are not invented yet.

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August 29, 2018, 06:33:07 AM
#111

Because of the volatility of the price of cryptocurrency right now. It goes up and down way too fast that make a lot of people rich and a lot of others go broke. This fact makes cryptos themselves very questionable about whether they could stay for a long time.
Government of a lot of countries really get afraid of things that are not beneficial and not trustable that could affect their economies.
Volatility should be something every single person investing in the space should be able to understand and handle all by themselves, and should not be a criterion for the government to want to ban cryptocurrencies. Sure, we may say the main reason is that it is an uncontrolled space and that gives room for any manipulations, but as time goes on, and with some lenient form of regulation, I want to believe all these would change.
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August 29, 2018, 06:50:14 AM
#112


McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Yes, many government are worry about cryptocurrrencies. As their inhabitants using cryptocurrency for illegal uses like-buying heroine, afim, bollet, Gun, and also corrupted things as well as. Thats why government are not accepting it as they have no control in cryptocurrency market. But when all government will accept it, it will come under supervision i think.
all of them refer to illegal transactions which will harm the government. because they don't have things that can prevent the transaction, so they ban crypto so they can reduce the fraud.
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August 29, 2018, 07:04:45 AM
#113

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

So governments don't like crypto currencies because they are unable to control them. So it seems crypto currency will be the one thing that gives the man or woman in the street back their freedom. I guess the government's role in the end will be to be an overseer and the people would be mostly independent with a financial system which is free from government control. Is this what we're looking at in the future?
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August 29, 2018, 09:08:42 AM
#114

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

true, because some countries still prohibit bitcoin, but the fault is that the government does not want to join the cryptocurrency world and create legal exchange laws, sending and so on so that all transactions can be controlled, I think if all works together it is not impossible that the cryptocurrency will be accept in all countries
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August 29, 2018, 09:14:24 AM
#115

If that is the only reason a country will ban crypto currency then why don't they juat have a KYC on their accounts to know anyone who is actually getting into crypto currency their their country. I think the reason for the ban is that banks are putting the pressure on the government because they are threatened by crypto currency growth.

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August 29, 2018, 04:56:48 PM
#116

There are so many reasons why crypto being banned, the crypto doesn't really give a good benefit to the country, the country cant control it and its easy to do tax evasion, the money laundering reason is a bit absurd, but the government will used a lot of ways to surpress crypto movement, and as long as the government cant gain control, the government will not accept crypto
I will say that what you say it is not completely accurate, cryptocurrencies are not good for the government but are good for the population in the country, you just need to look at countries that are in the middle of an economic crisis and how people are using cryptocurrencies to protect themselves from the bad policies of the governments and they do not like that, since how are  they going to control you if they cannot control your money?

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August 29, 2018, 07:01:00 PM
#117

Baning cryptocurrency is of no use there is no certain way of banning cryptocurrencies they can keep only certain rules every now then but cryptocurrencies are decentralised
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August 30, 2018, 07:25:23 AM
#118

Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China.  They are banning  it only because it does not comply with they law system.
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August 30, 2018, 07:32:22 AM
#119

I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.


The government perspective is the reason why it is banned. Government tends to disloke crypto because of its nature. Just like its decentralization, also it is uncontrollable. That is what the government do not like. They want to take incharge to things that will help the economy to rise. They wanted to have the role in everything.
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August 30, 2018, 08:56:46 AM
#120

Bitcoin is not banned anywhere in Europe, but mostly in 3rd world countries and in Russia and China.  They are banning  it only because it does not comply with they law system.

well, hopefully it won't increase. I also heard that Arabs banned bitcoin, and that was a shame. I just hope that they all open opportunities again in this case, so that the cryptocurrency can be developed.

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August 30, 2018, 09:12:31 AM
#121

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...
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August 30, 2018, 09:50:33 AM
#122

I think the only reason is that banks worry about their business loses. And because they sponsorship politicians, they ask them to help keep money transferring business in their hands as much as possible.
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August 30, 2018, 10:10:04 AM
#123

I think, cryptocurrency is being banned in many countries because of some tax issues, the government is seeing hiw people are getting loads of money without them hacing to pay taxes or in other worlds without the government grtting anything from it. I guess one more thing is the paper works needed, the legal matters and all the talks before cryptocurrency gets accepted fully.

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August 30, 2018, 11:29:35 AM
#124

Governments want to be in control of cryptocurrencies which is a bit difficult for them due to decentralization and as a result of this, some governments are prohibiting or banning cryptocurrency within their territory on the ground that it can facilitate money laundry. The fiat currencies under the control of government is still being used to launder money. I think there is more to the governments' decision.
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August 30, 2018, 12:16:04 PM
#125

I think it is because of ignorance of what cryptocurrency is.Some people are skeptic about it and they are afraid it won't materialize.If only they knew and understand why crypto was created, then I am sure they will not ban it.
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August 31, 2018, 06:09:41 AM
#126

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...
You just hit another good point. Some government might be kicking against it because they think it is very risky and people might be losing their money through it.

But bitcoin is not the only risky thing there, itís an investment and they should all know that investment has risks involved so anyone that is investing their money in it should be aware of that. Though another I have seen a lot of people complain about is the manipulation in Bitcoin, whales are now using it as an opportunity.
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August 31, 2018, 06:14:00 AM
#127

Also it's hard to control the bitcoin if a country accept bitcoin as a payment or a currency. I think the government banned cryptocurrency with a reason, not because of scared or anything. It's hard for now for cryptocurrency to be accepted on some countries, maybe we will see it in the future, who knows.

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August 31, 2018, 06:44:42 AM
#128

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

In my own opinion, there are government who hates cryptocurrency because their own country cannot handle the grow of bitcoins and there are more people who prefer trading in the market rather than working in the corporate world.
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August 31, 2018, 06:53:22 AM
#129

I think that making cryptocurrency is often banned because I think cryptocurrency is too open and the price is too terrible because it can't be stable.

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August 31, 2018, 07:23:09 AM
#130

yes, there are several countries that prohibit crypto currencies because the government cannot regulate the use of crypto and currently many use crypto for crimes and that will harm the state

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August 31, 2018, 10:19:58 AM
#131

Because it's more on decentralize currency and the government has no control of the supply and prices. They are afraid that this will be use for criminal funds and don't want their people be a target of those criminals.

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August 31, 2018, 10:50:34 AM
#132

Many people use cryptocurrency for criminal purposes such as arms trafficking, human trafficking ... That makes the government prohibit Bitcoin operations.
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August 31, 2018, 11:07:18 AM
#133

Unlike other conventional currencies controlled by the government, major banks or investment funds, Bitcoin is regulated by private investors. You can access Bitcoin from anywhere connected to the internet, through companies that exchange or purchase products or services, although most people use Bitcoin as an investment. However, it is difficult to prevent Bitcoin from working. It is important for everyone to understand that converting Bitcoin to USD or GBP is illegal. Big companies like Microsoft, stock exchanges or real estate should not accept Bitcoin.
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September 01, 2018, 11:29:22 AM
#134

Yes, certainly this is correct as I have noticed that also. When people move money from their country out, the country loses that certain money and because it is done digitally there is little control of what and where will these money be used for. So it is like it is wasted if not used properly.
Do not forget the part where there could be inflow of money into the country as well. At least, if money is leaving somewhere, it is not just disappearing.
For instance, a lot of people have been doing well for themselves, some have been able to learn how to trade over the years, and make some pretty good returns on their trade, and looking at the fact that you will still need to convert to fiat to be able to spend at all at least for now, it makes it necessary to at least have a need for your currency which brings about demand for it.
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September 01, 2018, 11:39:14 AM
#135

The reason why other country ban cryptocurrencies because its decentralized and they canít control it if you canít control the currency that coming to your state you canít get regular or canít deduct the correct tax to your people. The other reason is some people are using the advantage to do their illegal work, like selling drugs and smuggled stuff. Another reason is maybe they are creating their own cryptocurrency like another country, and they donít want to use the other cryptocurrency that they donít own.
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September 02, 2018, 05:12:40 AM
#136

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...
You just hit another good point. Some government might be kicking against it because they think it is very risky and people might be losing their money through it.

But bitcoin is not the only risky thing there, itís an investment and they should all know that investment has risks involved so anyone that is investing their money in it should be aware of that. Though another I have seen a lot of people complain about is the manipulation in Bitcoin, whales are now using it as an opportunity.
I do not see government thinking it is risky for the people, I see it more like it being a threat to them but obviously, we cannot expect them to come out completely to say, 'stop bitcoin or cryptocurrency because it is a threat to us' but would rather find other disadvantages surrounding it, push it out like it is something that cannot be solved and use it as a stone they can step on.

I wonder when governments really cared about their citizens most especially in some third world countries and undeveloped countries banning it. It is normal to see complaints with in an unregulated space which is why at this stage; the government can still come up with lenient regulations to make things work in everyone's favor.
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September 02, 2018, 06:16:06 AM
#137

To some countries,the government makes the insinuation of getting some funds from every investment the citizens make on bitcoin transaction but they do not get. In that case,they intend banning any crypto related transactions since they do not get funds from them.

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September 02, 2018, 08:47:49 AM
#138

Most of the country ban cryptocurrencies the main reason is they fear the money coming through cryptocurrency are illegal money which cant be accountable but in reality if the county regulate then they can work smoothly with cryptocurrencies
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September 02, 2018, 05:19:46 PM
#139

Baning cryptocurrency is of no use there is no certain way of banning cryptocurrencies they can keep only certain rules every now then but cryptocurrencies are decentralised
We must not be so confident, there are a few ways in which bitcoin could be blocked, for example if governments find a way to differentiate bitcoin traffic from regular traffic on the web they could block the bitcoin network, I think the developers will solve that issue but that will prove to us that the governments are really looking to destroy bitcoin by any means necessary and that we must stay vigilant to all of their attempts since we cannot let them succeed.

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September 02, 2018, 05:36:02 PM
#140

The main reason why they are trying to ban the crypto is it because they think that it will not be helpful for example in one country they might think that it will not gonna help in the country because it doesn't have a stable proc eon it not like a cash were it have a same amount that it can use right away with no hassle.
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September 02, 2018, 07:29:18 PM
Last edit: September 03, 2018, 04:58:47 AM by Xenoph0bia
#141

I think the reason why crypto currencies are banned by the government is because of the high risk that arises if you invest in this commodity, the simple example is when you buy crypto currencies at a certain price there is a very uncertain price movement. the opposite will make you experience losses...
You just hit another good point. Some government might be kicking against it because they think it is very risky and people might be losing their money through it.

But bitcoin is not the only risky thing there, itís an investment and they should all know that investment has risks involved so anyone that is investing their money in it should be aware of that. Though another I have seen a lot of people complain about is the manipulation in Bitcoin, whales are now using it as an opportunity.
I do not see government thinking it is risky for the people, I see it more like it being a threat to them but obviously, we cannot expect them to come out completely to say, 'stop bitcoin or cryptocurrency because it is a threat to us' but would rather find other disadvantages surrounding it, push it out like it is something that cannot be solved and use it as a stone they can step on.

I wonder when governments really cared about their citizens most especially in some third world countries and undeveloped countries banning it. It is normal to see complaints with in an unregulated space which is why at this stage; the government can still come up with lenient regulations to make things work in everyone's favor.
The main reason is that these are decentralised and the central banks have no control over them at all.These are also very risky as they can get hacked very easily.Cryptocurrencies are also very volatile amd we do not know when will the prices go up or down as they do not follow any trend.Cryptocurrencies require internet connection which is not possible in every corner of the world.These also require some basic knowledge to get operated and are bit complex to understand.
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September 03, 2018, 12:29:55 PM
#142

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Yes I completely agree with you on this. The cryptocurrencies are snatching the financial power from the hands of the government and giving it to the public. Therefore, the governments and banks are against crypto market. The cryptocurrencies and its underlying technology known as blockchain aims at establish direct contact between the financial parties thereby eliminating the intermediaries like banks. This puts threat to the very existence of banks.
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September 03, 2018, 01:08:07 PM
#143

Plus they can't collector taxes from there. Well maybe the main reason they strictly  ban it because Crypto is so risky.  We know that our government  want to control everything that is why bitcoin  was ban because they can't control it but believed me in the near future they can do anything to stop it.  Peoples  now are educated about cryptocurrency  and I believed that some day there will group in every country  to fight for it.

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September 03, 2018, 01:19:48 PM
#144

Why they banned cryptocurrencies in different country, because they think in bitcoin is scam, like in digital money in our country that did not legalize by the government because they idea about the certain issue specifically in bitcoin is fraud or simply racket trick. But other country did not banned because they may help the certain country to improve the circulation of their economy. The main point that did banned crypto is they feel fear to enter because they did not sure weather it is real or not because of digital money.
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September 03, 2018, 01:28:23 PM
#145

The reason why crypto is banned by some countries is because their government is afraid that the crypto market is a bubble that could make their country's economy suffer and make their country lose control
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September 03, 2018, 01:33:28 PM
#146

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
I think other countries ban cryptocurrency because of the negative thinking on their part. They still think that this crypto will give them a negative effect in their government.
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September 03, 2018, 01:36:27 PM
#147

The main reason why they are trying to ban the crypto is it because they think that it will not be helpful for example in one country they might think that it will not gonna help in the country because it doesn't have a stable proc eon it not like a cash were it have a same amount that it can use right away with no hassle.
Not only that it won't help their country but they are banning it because it can lead their people to be part of such shady activities.

They only looking to crypto's as something illegal related currency, they never see the good side of using crypto's to avoid extremely high fees and slow process of the traditional system.

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September 03, 2018, 01:38:40 PM
#148

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
Seems like pretty good reasons to me why they don't trust it. We should also consider that this technology is a real disruptor  to the current economic industry. Cypto is beginning to be considered what some might call, "dare I say", "dangerous!"
   Crypto really throws a wrench into the plans of modern day finance. However, it is quite a useful technology that many seem to be adopting slowly over time.

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September 06, 2018, 06:26:23 PM
#149

The main reason why they are trying to ban the crypto is it because they think that it will not be helpful for example in one country they might think that it will not gonna help in the country because it doesn't have a stable proc eon it not like a cash were it have a same amount that it can use right away with no hassle.
Only if that was true, you're seeing this from the wrong angle governments do not like cryptocurrencies for the reasons that you state, they are not interested in protecting the public from potential fraud or anything like that, what they care about is that with cryptocurrencies they are going to lose control of the money of the people, and without that control they feel vulnerable because they have grown to big and they know that if they do not stop this they will have to get smaller.

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September 06, 2018, 07:16:56 PM
#150

I think the most common aspect why other countries keep banning cryptocurrency is due to the security measures. Many already become a victim of scams at many still doubting if there is someone who is manipulating the prices of cryptocurrency.



I think After crypto is more transparent and stable, I think it will be recognized and become more popular. I think the reason why the other ban is crypto because crypto is a new currency, is unstable, is very fraudulent and has not reached a certain balance like some other markets such as stocks, gold. The government has not recognized the crypto to protect people from the risk of a scam.
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September 06, 2018, 08:01:47 PM
#151

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.
If the government considers cryptocurrency to be a danger to society, it may be due to high concerns about illicit trade and government concerns about money laundering etc. But if the government is observant with more positive facts that occur from crypto, then the government should believe that crypto's ability to improve the financial well-being of its people is better and I feel very good to improve the economy of a country.

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September 06, 2018, 09:57:21 PM
#152

The reason why other country ban cryptocurrencies because its decentralized and they canít control it if you canít control the currency that coming to your state you canít get regular or canít deduct the correct tax to your people. The other reason is some people are using the advantage to do their illegal work, like selling drugs and smuggled stuff. Another reason is maybe they are creating their own cryptocurrency like another country, and they donít want to use the other cryptocurrency that they donít own.
It is still difficult to overcome. And we need more time to change. The main purpose is to accept it and not be affected by anything.
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September 06, 2018, 11:06:09 PM
#153

I think the most common aspect why other countries keep banning cryptocurrency is due to the security measures. Many already become a victim of scams at many still doubting if there is someone who is manipulating the prices of cryptocurrency.



I think After crypto is more transparent and stable, I think it will be recognized and become more popular. I think the reason why the other ban is crypto because crypto is a new currency, is unstable, is very fraudulent and has not reached a certain balance like some other markets such as stocks, gold. The government has not recognized the crypto to protect people from the risk of a scam.
For me,some countries have banned bitcoin because of the fact that it is not legalized by the government itself.Because of its high volatility,the price varies from time to time making most of the people become confused since they are used with fiat currencies with fixed amount.

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September 06, 2018, 11:22:01 PM
#154

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

It is reasonable for the government feel afraid to something that they can't control, with the anonymity and decentralise, crypto can make people to avoid tax, and it could be easily used for money laundering, but the government should see something beyond that, the government also need to consider this as the future technology to help payment from different countries


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September 06, 2018, 11:41:43 PM
#155

The reason why other country ban cryptocurrencies because its decentralized and they canít control it if you canít control the currency that coming to your state you canít get regular or canít deduct the correct tax to your people. The other reason is some people are using the advantage to do their illegal work, like selling drugs and smuggled stuff. Another reason is maybe they are creating their own cryptocurrency like another country, and they donít want to use the other cryptocurrency that they donít own.
It is still difficult to overcome. And we need more time to change. The main purpose is to accept it and not be affected by anything.


I think the main reason why other countries ban cryptocurrencies because they have no control with it. It is very difficult to control decentralized currency in which if they want to control it they need to regulate it first by lawful means.

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September 06, 2018, 11:45:11 PM
#156

The main reason why they are trying to ban the crypto is it because they think that it will not be helpful for example in one country they might think that it will not gonna help in the country because it doesn't have a stable proc eon it not like a cash were it have a same amount that it can use right away with no hassle.
Not only that it won't help their country but they are banning it because it can lead their people to be part of such shady activities.

They only looking to crypto's as something illegal related currency, they never see the good side of using crypto's to avoid extremely high fees and slow process of the traditional system.
I can understand if they scared to something they cant control, well something can unexpectedly happen. And the cryptocurrency can make the value of the country's currency decreases which will have a big impact to the economy in the country.
But blockchain is truly a great innovation and will improve many things in this world, government wont be able to avoid that.

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September 07, 2018, 12:02:33 AM
#157

The main reason why they are trying to ban the crypto is it because they think that it will not be helpful for example in one country they might think that it will not gonna help in the country because it doesn't have a stable proc eon it not like a cash were it have a same amount that it can use right away with no hassle.
Not only that it won't help their country but they are banning it because it can lead their people to be part of such shady activities.

They only looking to crypto's as something illegal related currency, they never see the good side of using crypto's to avoid extremely high fees and slow process of the traditional system.
I can understand if they scared to something they cant control, well something can unexpectedly happen. And the cryptocurrency can make the value of the country's currency decreases which will have a big impact to the economy in the country.
But blockchain is truly a great innovation and will improve many things in this world, government wont be able to avoid that.
I agree on you.But we cannot force some countries from stop banning bitcoin since it's their freedom to choose the currency that they preferred to use.And let's just say that not everybody can totally adopt the fast changing digital world we are heading right now.

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onrise
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September 07, 2018, 07:57:26 AM
#158

The reason why crypto is banned by some countries is because their government is afraid that the crypto market is a bubble that could make their country's economy suffer and make their country lose control

They think that it can be misused and cause the threat to many citizens of their country which they do not want to make it happen . Also they think it could create more scams across their financial and this will make it more threat as then already country may be investigating other scams and this will add more work to them.

Mr. Legendaris
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September 07, 2018, 08:13:36 AM
#159

I think this is because of excessive fear, it must be admitted that the number of haters who pay for all media makes many countries afraid and thinks that crypto is a scam so it chooses banned cryptocurrencies.