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

[enogheghase123]

the main reason why most government are against bitcoin is because they fear that due to the decentralized nature of bitcoin, it will be difficult for it to stay anonymous when illegally laundering funds in both domestic and foreign counts overseas.

[qiwoman2]

I think many governments are so scared that they may be ousted out because the power to the people in their eyes is very difficult for them to fathom and they consider it as very dangerous. Let's see how this impacts them business wise etc because if countries stay behind technologically, this isn't very good for them at all. Blockchain technology is here to stay so why not allow it to flourish in your country? Governments are there only to protect their own civil servants and serve the Banks and Corporations, not the people, well most of them anyway. I think central governments are an outdated mode of governance anyway. Let's see how things go and which countries DO adopt blockchain tech with a mission, like DUBAI and , SINGAPORE and MALTA.

[Kakmakr]

It is all about control. The government wants full control over every aspect of their citizens life and one way of doing this, is to control their "money". They know people cannot do a lot without money and if they can control or track it, then they can control the people who owns it.

Try moving all your money from one country to the next and see what happens.  Also try to buy a large quantity of weapons and explosives and see what happens. They want to know what you are buying and how much money you have and also where that money is going. You have ZERO financial privacy in the FIAT system. 

Bitcoin gives you financial freedom and also financial privacy. 

[Idoe]

The country is stopping bitcoin because it has not been able to regulate it, let alone a lot of allegations of money laundering, the country eats raw about bitcoin and does not see the positive side. It's a pity if the government has an opinion like that.

[Andam76]

Many countries forbid the existence of bitcoin but instead many developed countries have used bitcoin as a payment tool ... maybe the government banned the use of bitcoin because the government cannot monitor bitcoin and regulate bitcoin like ordinary currency ... in Indonesia the government prohibits using bitcoin payment tool ... if you invest in bitcoin then all risks must be borne alone ...

[rudox]

The reason some of them gave was that bitcoin is decentralized and because of being centralized it cannot be controlled and users will not pay taxes to the government. Others said because bitcoin is anonymous it can be used for nefarious activities like money laundering, sponsorship of terror and drug peddling. Since bitcoin is not centralized all these activities can be carried out without being curbed or managed.

[cizatext]

Government's of many countries are against bitcoin because of it total freedom and decentralized nature bitcoin can not be controlled by any individual government or institutions, bitcoin is not like the paper money that is centralized and control by the government. Government can only regulate the individual activities in the bitcoin network and the blockchain technology in it entirely.

[biskitop]

most assume that bitcoin is the most risky investment and there is no guarantee of security in investing in bitcoin. I think they really don't know deeply about bitcoin. and then they consider bitcoin vulnerable to illegal transactions because it is anonymized, peer to peer, and without going through a bank. I think it's reasonable, but can be prevented by regulation.

[nellakarisma]

if in my opinion. because the government sees the price of bitcoins that cannot be controlled. and many cases of theft that cannot be caught by the authorities

[CryptoRama]

Because it's a scam and you can lose a lot of money, that's one way to look at it, the other angle is, all the rich people, just want Bitcoin to die already, so they invest in all different medias to criticize bitcoin, so they can buy it cheaper than before, and after that sell it as much as they can at higher prices. So will we let them to have all the bitcoins??

[BlackPanda]

Because it's a scam and you can lose a lot of money, that's one way to look at it, the other angle is, all the rich people, just want Bitcoin to die already, so they invest in all different medias to criticize bitcoin, so they can buy it cheaper than before, and after that sell it as much as they can at higher prices. So will we let them to have all the bitcoins??

There are people who criticize and there are also people who support the use of Bitcoin. This depends on the perception and how the person thinks. Usually everyone has their own goals and that is what distinguishes each opinion. For me it is better to support the use of Bitcoin because the more sophisticated the times will require us all to reach a much more sophisticated level of life such as the digitization of the financial system.

[towi078]

There may be several reasons why there are some countries that still ban bitcoin or cryptocurrency. And one of them in my opinion is because they are not ready for infrastructure and regulations

[SnapDown22]

For most it's because they don't have the ability to track or tax it. For others it's a tool against their dictatorship or strcit government system. I don't know of any Western nations that have Bitcoin banned.

in my opinion bitcoin made by the government is thought to damage the economy of the government and I think like that because bitcoin has not been licensed by the government thought to make the country a loss

[sysoe]

Primary reason behind this is their fear that bitcoin may replace their own currency which will cause trouble for them.

[devinks]

The country is stopping bitcoin because it has not been able to regulate it, let alone a lot of allegations of money laundering, the country eats raw about bitcoin and does not see the positive side. It's a pity if the government has an opinion like that.

bitcoin is more directed towards the negative because it is anonymous so that everyone can use it as any action, so the government is very difficult to legalize bitcoin. and all of that has become a risk, inevitably the government must accept all of that if you want to legalize it.

[funchiestz]

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

I don't think it is true. Just two weeks ago, the G20 countries' met and talked with the tax for the cryptocurrency. If they wanted to stop Bitcoin, they wouldn't do it.

[tdrinker]

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).

Ooops, I thought that I put in there that they all happen with fiat as well. Must have thought it but never typed it. Still, it's the excuse they use and a lot of people only believe what they read in the mainstream news so they'll go along with it.

[delphic]

They just take out the competition.This is not profitable for many and can destroy long-established systems. Many countries are simply afraid of this.People in General are often afraid of everything new is normal.

[cybernetik7]

Since BTC has shown a fluctuation at high rate and they can't control, they would try to protect theirselves and their citizens. I think it is understandable and acceptable when you loook from their sides.

[badungs]

In my opinion. it happened because of the very volatile nature of bitcoin. many users of this currency have suffered a lot of losses so that each country tries to protect its people so that it does not easily plunge into the world of crypto currencies.