Many Countries Government trying to stop bitcoin, what reason .......

[rakibul1364]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

[dothebeats]

First reason that they.come up with is to prevent money laundering before it even becomes big. I don't see and feel the need for such bans as money laundering and fraud can still be accomplished using traditional financial instruments. If only they see the bigger picture and just allow bitcoin and crypto to flourish and find ways to monetize it instead of banning, that'll be great and far more beneficial than their proposed solution, but I guess some countries wouldn't just accept modern technologies easily, as evidenced by these countries banning bitcoin without a pleasing and convincing argument.

[wujek]

They want to stop it because they can't control bitcoin, people can pay anonymously, so this is the pain in the ass of goverments

[proTECH77]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

Candidly speaking, the most interesting reasons why many countries tend or ban bitcoin is the power of freedom that bitcoin brought to it holders. Freedom of being your Own Bank, freedom of spending and so on, these are against the traditional ways of transacting currency(fiat). But bitcoin cannot be stop for whatsoever reason they claim because; bitcoin is the mainstream of the tech. called blockchain.

[tdrinker]

Not that many countries are actively trying to prohibit bitcoin however a lot are trying to regulate it. Bitcoin poses a threat to their current monetary system as well as enabling money laundering, tax evasion and enabling in financing terrorism. To the extent these things happen is not clear but those are the most common lines you hear coming out of such countries.

[demenBTC]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

in my opinion, in many countries that want to stop bitcoin because their banking is threatened with the emergence of bitcoin, bitcoin is rapidly reducing bank customers around the world, bitcoin holders prefer to save their money in bitcoin wallets because they are free from state tax

[nicko122]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

There are many reasons. Of course among the main ones price instability and the impossibility of complete control of coins. But also each country has its own currency and it is beneficial for the state when people invest in the national currency.

[BitcoinGirl.Club]

Because they fear that they can not control their citizens. Government always wants to rule their citizens and the best way is for that, to have access in the finance of the citizens (Like bank). If Bitcoin takes the place of the traditional banking then the government will lose their almighty power and they don't want it to happen.

Bitcoin poses a threat to their current monetary system as well as enabling money laundering, tax evasion and enabling in financing terrorism.

These are still happening using fiat currency (cash only).

[SMD.Shuvo]

Yes it is true At first I will say that money is laundering by earning a lot of money. It's a big fraud. Thus there is a lot of damage to the country. That's why many governments are trying to stop Bitcoin.

[antisocial77]

actually they dont want to stop bitcoin/crypto. they want to take control of it plus ofcourse tax issue.for me, this is what is going to be.crypto will be under control of government and our dream will be gone.

[Slow death]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

The answer is very simple, the politics and the greed of the politicians. To put it differently, politicians are a small group of greedy people who think only of themselves and they defend their own interests, they approve the laws that benefit them, and approve policies in order to control their citizens. Bitcoin is decentralized and is anonymous and because of this, politicians have difficulties in controlling bitcoin, so as they can not control bitcoin they look bitcoin as their enemy.

[alex_gr_cc]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

I have not found that any country completely prohibits bitcoin or other cryptocurrencies. As a rule, we are talking about any regulation. Maybe even hard. But not a total ban.

[kryptqnick]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

Why are you asking about many countries? Only 8 countries are totally hostile to bitcoin and other 7 or so have some restrictions. Bitcoin is legal in most of the developed countries and is still not regulated in most of the countries. So, to sum up, the world is not hostile to bitcoin, but is mainly neutral, while developed countries mainly welcome it.

First reason that they.come up with is to prevent money laundering before it even becomes big. I don't see and feel the need for such bans as money laundering and fraud can still be accomplished using traditional financial instruments.

Money laundering seems to be an excuse for bans and regulations, not the actual reason, since, as you mentioned, banks are also great for fraudulent activities. It's unfair to accuse cryptos of money laundering. Even though transactions are pseudo-anonymous, blockchain at leasts prevents centralization and makes all of the tranfers visible.

[coin8coin8]

If you can learn more about the nature of money, you will understand.
In fact, in modern society, one of the most important functions of money is as a means of government control of the economy, so all the countries we see today have their own national currency, the most successful example of which is the US dollar.
The government created “wealth” out of thin air by issuing additional money. Please note that wealth is not the money itself, but the exchange value behind the money.
And the emergence of Bitcoin undermines the government’s coinage, which means it can exchange value without going through the government’s currency.
Any government is greedy, they don't want to see such a situation, so they must be against Bitcoin.

[BrewMaster]

"Many Countries Government"? where is the reference for that?

as far as i know and the legitimate recourses tell us only a handful of countries have actually tried to stop bitcoin. countries such as Bangladesh comes to mind. otherwise majority of the world has not been trying to "stop bitcoin" at least not publicly and not on big scales. there has been a lot of talk though mostly in the news which always exaggerates everything.

[peter0425]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

Countries like Russia and China doesn't want to give people too much control of their money. We all know that crypto will give them so much financial freedom and it will come a time that they can't really control it, so its better to stop as early as they can. Other's doesn't want the anonymity aspect of some major coins specially if they are going to be used to laundered money or used by common people to buy illegal stuff on dark web. But you also have to look at the bright side, because many countries are turning crypto friendlies around the world like Japan, Malta, South Korea or even Germany.

[sikkan]

'Cause the sphere is kind of hard to control due its anounymity. Then how are they suppose to collect the taxes? Besides, what about money laundering?

[arpon11]

anyone know what reason  stoping bitcoin many countries,,,,,,,,,,what reason ?

Bitcoin is freedom because it is decentralized and governments did not want a decentralized system.  Bitcoin, take power from governments and give it to the people financially and that is what our politicians will not like.  Blockchain technology discovered is one of the greatest discovered of mankind and you should remember that anything that will help humanity is not always accepted by the governments.
We believe that the future is bright and we just need to allow bitcoin to be and in future governments has no option than to accept it.

[Marshall14]

It's not as bad as you're trying to make it, there is no mass attack or prohibition against the bitcoin,only but very few countries have tried to stop it's trade in their countries for diverse reasons best known to them

As far as I'm concerned more and more countries are doing well to embrace the new technology,and that's a big plus for the network

[burky156]

There are many unanswered burning questions here. First of all the goverments and the banks afraid of the bitcoin and the cryptocurrency. I think they don't really know what to do about it. But i am also sure that they are searching ways to use bitcoin in their benefits as well. When goverments start to determine the taxes about cryptos the problems would start to solve.