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

[Eildosa]

Perhaps due to the fact that there were several cases of fraud with bitcoin now some States see it as a threat. However, this is wrong and biased.

[mbluxs]

Government dont like cryptocurrency because it is decentralised so it is not controllable and they cannot access the records. You cannot find the users behind the transactions so illegal activity is happening lot. They cannot manipulate bitcoin price like they do with fiat currency.

maybe many people misinterpret bitcoin as gambling or something else. and difficult for ordinary people to understand. and very complicated to invest. so the government banned circulating bitcoin. and

[Kahoy01]

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

There are really countries that are against to bitcoin, the reasons are: its anonymity, decentralized and its unstable price. The bitcoin can use by anyone and the transaction is anonymous. Governments are aware that even criminals can use bitcoin in their illegal ways.

[Siren]

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

Every country has their own reason why the Dont wana let cryptocurrency specially bitcoin to enter their economy,first reason is the corruption in which will surely stopped because of the decentralization system cryptocurrency has
Second the opportunity of criminality to grow because of the anonymity crypto has,though even without bitcoin still these criminals continuously creating violence in the workd

[Xising]

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

Good material mate. I think besides the control aspect, many governments are not trusting the crypto currency market and its assets because of its unreliability and volatility. I mean, a government is there to safeguard the interest of its people, thus, if they see investments that would affect their citizenry for the worse, they would try to stop and avoid it from flourishing, which in turn, would save their people from the imminent failed investments and money loss.

[teejayrichard2]

countries government try to stop use of bitcoin because they feel its volatile and may lead to their citizens loosing money which could lead to some of them commiting suicide. some country also try to stop bitcoin because they feel it is something they have no control over and for sure government fight anything they cannot control

[0t3p0t]

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

Money laundering, terrorist funding, buying of weapons and illegal drugs are some reasons why government in respective countries started to stop using Bitcoin but not all of them prohibit the use of it because there are still a lot of countries that accepts Bitcoin as a mode of payment though they implement a regulation on local exchanges. Some countries that ban or prohibit the use of Bitcoin are now taking steps to adopt it.

[Ridwan Fauzi]

well many countries try to stop bitcoin because they feel it is a risk as people can get to loose their money and this may lead to suicide or something bad. other government try to stop it because they can not control it and government normally does not like anything they can not control

I guess if the problem is just what you say then it's the easiest thing to solve. Every bitcoin user or investor who comprehend about investment in bitcoin they can provide an education to people who are interested on bitcoin, they can create a community or create a class to talk about how to invest in bitcoin. Everyone who just know bitcoin will be interested in investing in it, many people will get huge profits from investing in bitcoin. For a place of investment that promises, I think bitcoin is one of them, but with many notes, every investor must be able to manage their emotions, their greed and other negative things.

[PlusOne88]

There is always those fears of losing economically. I heard too many times when a government officials go out of our country for a vacation, critics would be there saying he or she is just wasting the governments money. By simply analyzing this little instance of expenditure I would say that with bitcoin you can do just the same. You may not be moving out, but you can buy things online using bitcoin or transfer mo ey using bitcoin so that it means you can use your available money to spend for something which is out of your country and this if done by volume can be a loss to your economy. But on the other side, you can gain as well if too many comes in and less money goes out using bitcoin. Other reasons include the use of bitcoin for criminal activities which I don't have first hand data though it is just what I heard about. Whether whatever reasons there is, bitcoin still wonderful and should not be blamed for any misuse. Its the people who use it that makes it bad or good.

[Mikwik]

Well, honestly I am also one of those crypto users here still wondering why government are keep on stopping the Bitcoin crypto currency. But I have a little gasp of it that government not want to stop it but want to have control over it. And thanks to the country I am oiving because the government are not stopping or banning the use of it.

[ethereumhunter]

The most reason why the governments were trying to stop bitcoin is that they cannot control bitcoin and they cannot even touch it. They only can see the transaction is made in every second and it show thousand transaction that getting confirming one by one. But if they can accept bitcoin and cryptocurrency, I think it will gives benefits to them and I think they can find the benefits by searching and reading on the blockchain technology whitepaper so they can have an idea how to implement the blockchain to their system.

[BorisWCR]

Well I think it best suits if we say, the government are just trying to have control over it and not to stop it. Honestly, I am satisfied how Bitcoin works as it is now, being a decentralized one and as an anonymous user.

[williamshennie9]

I think many governments are afraid of losing power over the economy if bitcoin is allowed to be used. That's my opinion.

[coinnumber]

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.

Many countries are afraid of the latest technology development as they find it difficult to adapt with, as a result the work against it as they believed it will affect their economy negatively by promoting fraud since the system is decentralized. However, those who understand and know the value of blockchain technology are coming in to accept it and I believed with time we all see it through the positive aspect.

[Botnake]

Well I think it best suits if we say, the government are just trying to have control over it and not to stop it. Honestly, I am satisfied how Bitcoin works as it is now, being a decentralized one and as an anonymous user.

You have a point too.It does not mean that governments want to stop bitcoin in the first place.It's their own way of controlling bitcoin just like with fiat currency.Aside from this,the government is really thinking that bitcoin brings a lot of scam and that people should be more careful about it.

[Valer4ik]

All are surprised - the course falls, the reptile falls. But in fact - this is understandable. When the banking system realized how much money it was losing because of cryptocurrency, the work started. In fact, for all positives, the cue ball will be equal to 1 dollar, or even lower. Debugging time until 2020 ...

[wxa7115]

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

The only thing that you need to do in order to know the answer to that question is to think a little bit about it, governments and banks have a monopoly when it comes to printing currency so they can do whatever they want with it and people have to accept it, and as you know monopolies are very damaging for the general public because it means they do not have a choice when it comes to selecting a product or a service.

So what those institutions fear the most is competition, and for the first time in a very long time it has appeared a competitor that they cannot control and that is why they are thinking about all kind of excuses so they do not have to accept it.

[bitcoinisbest]

They see him as a threat. After all, if bitcoin is accepted as a means of payment everywhere, it can jeopardize the use of Fiat money. No state needs this, so many countries want to ban bitcoin.

Countries think that it could be illegally used and do not want to create a threat to the economy as people would get scammed or use it wrongly. They also fear that their banks and national currency could fall under threat if everyone used this currency.

[Aponkye1]

Bitcoin and all the other cryptocurrencies tend to offer freedom with the use of money to almost everybody and also charge very low transactional fees unlike the ones that are paid through central banks. The government is likely to lose huge amounts of taxes if bitcoin and cryptocurrencies are accepted to be used as payment for transactions.

[imstillthebest]

Bitcoin and all the other cryptocurrencies tend to offer freedom with the use of money to almost everybody and also charge very low transactional fees unlike the ones that are paid through central banks. The government is likely to lose huge amounts of taxes if bitcoin and cryptocurrencies are accepted to be used as payment for transactions.

We still use fiats whenever we buy a crypto so we still pay taxes and government still always earns an  income  .  they only want to stop bitcoin maybe for other reasons  but nowadays almost all countries are now legalizing cryptocurrencies  . only few were restricting it but soon they will always allow it because they dont wanna get left behind on what is the latest trend  today   .