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Author Topic: Reason why other ban cryptocurrencies  (Read 3565 times)
rameyhong
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September 07, 2018, 08:27:03 AM
 #161

I think The reason is simple. When government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin.
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The Bitcoin software, network, and concept is called "Bitcoin" with a capitalized "B". Bitcoin currency units are called "bitcoins" with a lowercase "b" -- this is often abbreviated BTC.
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Elyziey
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September 07, 2018, 08:54:35 AM
 #162

As for my opinion, some people who do bad things are using cryptocurrencies for illegal transactions like money laundering.  The put their money as if they are investing in Cryptos and pull it back transferring to their other accounts.  Such an illegal act why some countries or government is eliminating.
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September 07, 2018, 09:10:00 AM
 #163

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 ....government have not recognized crypto to protect people against scam risks,,crypto is more transparent and stable, it will be recognized and become more popular...
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September 07, 2018, 10:59:32 AM
 #164

hmmmm i aggre with you cause goverment can take any tax for purchasing a stuff buying with crypto, so the crypto is cant control by a goverment. and your reason is good bro two thumbs up Smiley
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September 07, 2018, 11:43:32 AM
 #165

For me the best reason I could consider why alot countries banning cryptocurrency is because of security issues. We all know that regarding computers and online platforms have a high risk of being hacked. This is the trigger mechanism for those country to ban crypto.
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September 07, 2018, 02:07:08 PM
 #166

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.

I believe that some of the media's today are being bribed in order for them to create a negative news about cryptocurrency in order to decrease the growth of cryptocurrency in their country.
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September 09, 2018, 02:19:45 PM
 #167

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.
As time goes on, I want to believe a lot of countries, regions, and religions will open their minds to the essence of cryptocurrency and the advantage it brings. It is still early and it is a lot technical for some to wrap their heads around but as we keep forging ahead, things would start becoming clearer, we will get to start seeing more acceptances and hopefully a whole lot will change for the better.
What we should be more concerned about is seeing more real life usage cases for this space.

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missyqt29
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September 09, 2018, 02:57:49 PM
 #168

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.



Some government ban the bitcoin in their country because they afraid to control by bitcoin. We all know that the bitcoin is very powerful, For me it can control country. Also they ban bitcoin because they think that the bitcoin cannot help their economy to grow.
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September 09, 2018, 03:06:20 PM
 #169

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 they are scared because they think that cryptocurrency has a bad effect in their country. And also, i think they are scared because the physical money might be replaced by digital money which eliminates the tax.
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September 09, 2018, 04:30:13 PM
 #170

The entire world is scared by criptos... this is why they're banning us. But don't worry guys, just have patience.  They'll probably join us too Wink
Coral27
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September 09, 2018, 06:03:17 PM
 #171

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 they are scared because they think that cryptocurrency has a bad effect in their country. And also, i think they are scared because the physical money might be replaced by digital money which eliminates the tax.
If they are thinking like this so I am sure they are doing their own bad, if they will allow their people to use bitcoin so it will increase their economy and with passage of time bitcoin will make them one of stronger and financially good country, well apart from all this I have no country in my knowledge which are banning bitcoin because popularity of bitcoin is increasing with time,
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September 09, 2018, 06:14:31 PM
 #172

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 they are scared because they think that cryptocurrency has a bad effect in their country. And also, i think they are scared because the physical money might be replaced by digital money which eliminates the tax.
If they are thinking like this so I am sure they are doing their own bad, if they will allow their people to use bitcoin so it will increase their economy and with passage of time bitcoin will make them one of stronger and financially good country, well apart from all this I have no country in my knowledge which are banning bitcoin because popularity of bitcoin is increasing with time,
In my country more scams involving cryptocurrency have occurred. The authorities are urgently on the issue, hoping they won't manage too tight. Some organizations and individuals are using cryptocurrency to scam fraud, which is a serious problem that countries are disgusted.

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September 10, 2018, 01:43:46 PM
 #173

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.
Its impossible that crypto's will make the country's currency devaluated or decrease.

A country that will fully depend on crypto's should be one of the biggest country and is calmly betting with crypto's but so far we haven't seen a country to be like that so it won't decrease a country's value of currency.

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September 10, 2018, 01:54:05 PM
 #174

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.
News that spreads not from ordinary people but a large agency like the government. they can control the news on the media so that whatever you see on TV must be in accordance with the wishes of the government. and what the government thinks about crypto is negative. they think crypto can threaten the existence of their local currency

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September 10, 2018, 03:30:12 PM
 #175

the government is simply trying to protect uneducated or inexperienced investors from financial losses. we cannot exclude this reason
That is what they are going to use as an excuse but I really think that we can in fact exclude that reason, what they really care about is to mantained their own benefits and their own power and bitcoin and cryptocurrencies in general are a menace to the system they have built in which they have all the control and monopoly of the currency and they can do whatever they want with it, cryptocurrencies will take a way that monopoly and they cannot allow it.
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September 10, 2018, 05:15:41 PM
 #176

McCall Robinson is not wrong. Any government that wishes to control bitcoin but could not will see to it that cryptocurrency is banned in that particular country. Also, one reason I see why other countries ban bitcoin is its unpredictability. A lot of people could lose money and if they did, the economy of a country will be down. Plus, if the government of a country is corrupt, they may not agree to legalizing bitcoin because it might expose their evil deeds, right?
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September 10, 2018, 06:12:39 PM
 #177

So many countries government banned cryptocurrencies. Because they think it is not a legal currency and it using on so many illegal activities.

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September 10, 2018, 06:36:51 PM
 #178

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.




I think the Government has not recognized crypto to protect people from the risk of a scam. 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.
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September 10, 2018, 06:37:19 PM
 #179

Cryptocurrency is ban in many countries with the intention that it fetches the country nothing worth to undertake projects in the country. Getting to know the benefits of cryptocurrency will surely draw the people and government's attention to crypto.

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September 13, 2018, 10:00:06 AM
 #180

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.
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