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

[izanagi narukami]

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

My government decide to ban bitcoin it can cause inflation and can be use by corruptor ( untracable transaction )
Last news I heard were about hacking , although bitcoin was being introduce as high security investment or money but the hacker still able to hack it so the trust that being built instantly loss in one time !

[Yourdoomed]

Tax evasion, money laundering, used to buy illegal goods and services, has no value, Ponzi scheme, no oversight or regulation, uses shed loads of electricity to mine it, Ransomware attacks, easy to steal with no compensation .........

[bellamente]

Many governments are afraid of bitcoin due to money laundering.

Do you seriously think so?

The main criminals are the deputies themselves and members of the government and they have no problems with the transfer of money

[Bennix]

The government want to stop bitcoin because government doesn't wants its citizens to be free financially. In view to this,government wants to control,define and determine the financial status of everyone ,and due to this quest to get full control of peole affairs,they see bitcoin as a barrier that will stop them .
Recently, government pointed out that terrorism and money laundering can be perpetrated using bitcoin,but we all know that money laundering has been going on through the foreign banks and traditional banks.
On the other hand,some instutions pay tax to the government from the money extorted from the members of the public, and with bitcoin the exorbitant charges those institutions collect from people will stop.
Over time ,we have seen millions of dollars being liquidated before our very own eyes,and nothing is done about it.So,government thinks that blockchain will display accurate information, account and transactions to the members of public, and this will make the people to hold them accountable accurately.My point is blockchain don't hide any transaction information even though it is decentralized, and this is the reason it is power to the people.

[Mhd-Bobbi]

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.

Expecting them to do money laundering, they only collect part of their sales, make them make the money they exchange, their income from crypto of course they will exchange it for real money in their country, I think it won't make a mistake. But I see many people who do money laundering from the results of their fraud, of course that is what needs to be eradicated, because fraud often happens everywhere.

[Tnt1971]

Many countries government stop bitcoin because they can't control bitcoin over fiat money and bank also refuses bitcoin and bank always against bitcoin because they don't get any remittance from bitcoin.

[Upgrade00]

Any new invention in history was initially met with a level of skepticism and disapproval. Bitcoin was not an exceptional, it rather was a perculiar case. It targetted the monopoly of the banks and governments which was only rivalled by gold and other precious stones.

Bitcoin proposed financial freedom for it's community and investors and a new era of unrestricted and unregulated transactions which could not be controlled. That's why countries were all defiant and unaccommodating. Many are now trying to flow with the tide, rather than swimming against it.

[Kayum10029]

Especially when a government can't control bitcoin at all then they try to stop bitcoin.some government don't permit bitcoin because they don't get any fees and remittance.

[KingScorpio]

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

because it wastes only their ressources. and reduces trust in the banks (secondly is partitially justified)

[Stac]

Many countries Government trying to stop bitcoin because.of their technological inefficiency to study and understand the in and out of the bitcoin, such people are scared of bitcoin to topple their current economy which is hardly surviving. Bitcoin is the first crypto currency started in the year 2009 and it has a strong net work systems incorporated with the modern technology. its features are  very attractive such as a decentralized one with anonymity.Its all transactions are recorded in an electronic ledger with block chain technology .Bitcoin is turned as a new form of economy which is found suitable to the modern world.The block chain technology is an unavoidable part of bitcoin which ensures the security and the clarity of the systems.The block chain technology has the various usefulness which regulates and controls the bitcoins .Due to the effective functions of the block chain no body can manipulate the system and which is leading us in to a corruption free world

[Xardasim]

what reason ?

Do you think the USA would want to give up its power? The state currency is USD which is the dominant currency and they can use it as they wish. Maybe I am wrong but I think that is the main reason.
When paper money cannot keep up with the development of technology, crypto will be accepted but it is not certain whether this will be Bitcoin.

[Wingleness]

Governments, irrespective of the location or region, all have the mindset of ruling and dominating the masses thus wouldn't want anything card freedom for the citizens. Bitcoin prraches financial freedom but the so called government isn't pleased with it, thus they would do anything to stop it.

[pixie85]

I think that their main concern is control. Money allow them to control people. If you become an outlaw they can freeze your accounts and make you live poor, in hiding, until you run out of resources. Bitcoin takes this power away from them. Their secondary concern is surveillance. Government wants to know what and where you're buying, and how much you're earning. If you didn't buy on exchanges it's impossible to link you with your coins.

[[btc]YSG]

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

The only reasons I could think of is power and information. As we all know all Government like is power and privilege over their citizens, they'd always want to be in control of every single affair and Invade citizens privacies at their will, and Bitcoin is getting rid of such things because it provides financial privacy and it also doesn't answer to any government.

[zolfa]

BTC has no formal basic, does not have the authority to regulate BTC, so it is worried that BTC will be used for illegal transactions.

besides that, BTC has the potential to create bubbles, because the value of virtual currencies is speculative, and can also disrupt the stability of the country's financial system.

[aeternus]

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.

I do not know about that, to me that seems like an excuse that they are using so they can spread all kind of lies about bitcoin and they can try all kind of laws against cryptocurrencies, but the reality is that they do not want to accept cryptocurrencies because they understand very well that if they do cryptocurrencies will become unstoppable and their fiat currency will lose power.

[shendy]

What I hear is that the government has not been able to accept, but has not stopped bitcoin, with many reasons being conveyed to every government. Most of these reasons are difficult to control, fluctuating values, no taxes, no legal certainty, and others. All of this can affect services in the banking sector.

[resty]

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

Actually almost all small country are actually ban to bitcoin specially their economic growth is gradually rise bitcoin will create confusing to many economist also may stop to forward  the good condition of economy.

[DarkIT]

money laundering, illegal transactions, competition between fiat, weakening the country's economy, and much more. so many things are linked to bitcoin to make bitcoin look bad, but basically it still exists if bitcoin is lost. well, but there are some countries that support this development.

[Dhoe]

In my opinion, They (the Government) still consider Bitcoin as something negative things that can make a mess in the country. They still fear if Bitcoin made as a tool money laundering and funding of terrorist networks.