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

[rtm125]

I think it's just the government's fear of an entirely new and innovative technology that will completely transform the traditional financial system. Most politicians are quite conservative and are not yet ready to accept the digital currency.

[udivkx]

Most likely, the government cannot afford to adopt a currency that cannot be controlled. Bitcoin is too modern and perhaps it is even ahead of our time. I think that in the future it will be actively used.

[basyang]

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

For me, the reasons why some countries stoping bitcoin is it can be a tool to use to their illegal activities because no one monitor in it in one country it will be safe to use in money laundering. My other reason is also bitcoin is decentralized and the government itself can not manipulate it which is one of a negative use of Bitcoin and its volatility also some Government did not want to have an ups and downs of it.

[Seeker#9]

These governments that won't allow bitcoin in their countries might not yet ready to accept cryptocurrency or they had a law that prohibit the use of another currency. Bitcoin has a high volatility and fluctuate rapidly so these countries might be having a hard time dealing with it so they rather ban it than allowing it. However, banning a cryptocurrency like bitcoin may not be successful because might buy the coin in an underground exchanges. China, for example, reportedly banned bitcoin but many chinese can still able to buy the cryptocurrency from many sources inside their country

[Maestro75]

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

I do not think the countries want to stop it. It is just their ignorance in not supporting it that is making it look like it is a sabotage. But this was the same resistance gold faced when it was newly adopted as a store if value a few years ago. Bitcoin will survive this too.

[reality18]

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

Most of these governments claim that Bitcoin is unregulated hence it is involved with money laundering, terrorism funding, drug trafficking and other source related to payment on the dark web. But the question, were these activities not already in existence before the creation of Bitcoin? This proves the fact that the governments have ulterior motive behind their claims.
It is obvious that the governments are scared of the decentralized nature of BTC which gives the financial power back to the people.

[Kuroko8]

yes this is technological advancement, this can be very useful for Bitcoin users
maybe bitcoin will be faster when accessed with the internet, but this is a satellite system that might be as good as general internet access

[HB Wallet]

Governments, especially far left communism governments, loveeeee to be in control of everything and even wish to expand their control power. Bitcoin, on the other hand, gives freedom and anonymity to users and cannot be control by any single party and proves to be a huge enemy. Aside from that, the fact that Bitcoin is taken advantage of by some bad guys makes some governments hesitate making it legal too. Until they figure out a way to 'control' or adopt Bitcoin they will just decide to ban it so that the whole country does not go chaotic, cause you see Bitcoin can affect various aspects of a country.

[rudox]

Many countries are against Bitcoin because they believe that bitcoin will be used to scam their citizens through ICO as Bitcoin is decentralized and can not be controlled by anybody. Some claim bitcoin is used to sponsor terror while others claimed bitcoin can easily assist in money laundry and drug peddling.
These are just mere speculations just to kill the bitcoin.

[jcmansah7]

One of the main reasons why most Governments don't want to accept cryptocurrencies as a mode of payment and making transactions is because of the the huge amount of money that they would lose without people making payments through the central banks. banks charge very high fees for transactions unlike cryptocurrencies which only charge just a small amount.

[sempak]

The risk is quite large if their citizens who are still lacking in information about bitcoin will make them not understand and will harm of course,as we know that investing in bitcoin is quite a big risk

[VitKoyn]

Actually its not really many countries trying to stop Bitcoin, but those countries that don't want Bitcoin to be used in their countries have issues about it, such as it is known for being used for illegal transactions on its early days and it is hard to trace transactions being made so governments will have a hard time chasing money launderers. In short governments don't have full control on cryptocurrency so some countries are prohibiting the use of it or exchanging it with their local currency.

[mitchr4]

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

The lack of regulation on the use of bitcoin in a country makes people can use this currency freely like buying drugs, fraud and money laundering. Bitcoin is a decentralized currency that from the beginning there are no rules at all.

[easybird]

the reason as I see it is very simple
those governments don't want any competitor in money laundering

[adzino]

First of all the crypto currencies are decentralized. This means that they have no control or power over it. The Government is power hungry and they do not like giving up full freedom to people specially when it is about money. They are actually not trying to stop the usage of crypto currencies, rather is trying to put on as much regulation as possible to bring indirect control over it. They do know that it is actually almost impossible to stop its usage.

[dupee419]

There are numerous reasons why these countries' Governments are not allowing or its either claiming that BTC is illegal or neutral to some countries, first of all is because BTC is indeed decentralized and it is the fact that these Governments wants some part of Bitcoin, so it means that they don't only want to legalized Bitcoin because it will help citizens but it is simply because they want to have control over it which is absurd and I think will ruin everything if you let the Government touch Bitcoin.

[kaisa]

The decision to accept or not cryptocurrency by the state has many factors, political factors greatly influence. Besides that the condition of the country is not ready to keep up with technological developments, even some countries are still traditional for payment transactions. Another factor is price manipulation, security, money laundering and other crimes that cannot be controlled by the state.

[bolbau]

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

yep, this is one reason that can represent the background of why the government continues to try to bring down the bitcoin market. when they cannot control all forms of bitcoin transactions, at that time they lose billions of transaction taxes that they should be able to implement, the profits that the government wants with its stupid partners, namely conventional banks. Bitcoin which tends to be anonymous is used as a scapegoat and weapon to attack, as if bitcoin transactions are the most prone to crime, even though the fact is that conventional systems have had criminal records more than decades ago.

[conected]

Most likely, the government cannot afford to adopt a currency that cannot be controlled. Bitcoin is too modern and perhaps it is even ahead of our time. I think that in the future it will be actively used.

- Being uncontrollable when applied to reality is also a reason that makes the government try to stop bitcoin, they do not want anything out of their control, that will make them face a lot of big problems in society, like underground transactions or black market. But the more important reason is probably that they do not want the people in their country to participate in it too much because bitcoin is a very modern product, useful and fascinating, so many people have given up their jobs or sold all their possessions to invest in bitcoin, if this continues and lasts, society will collapse and crisis

[Amevalentine]

of course the bad reason for the results obtained in crypto currency investment for the country may be the massive inflation of the local currency and a means of money laundering

I think the obstacle of the government does not allow and do well by bitcoin because there is no law on the existence of bitcoin or digital money or foreign money and I lead there because this bitcoin actually appears suddenly and can produce very satisfying results and I think we can make the country's economy fall I think so