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

[ololajulo]

It is sometimes scary when one realize the size of people joining the space even as bear market progresses. They need more than what they are doing now to discourage and control the news but I dont doubt if financial institutions and politicians are involved.

[iqlimasyadiqa]

The main reason for the existence of a government that prohibits the use of bitcoin is because bitcoin has so fast price fluctuations that if it is not controlled in large numbers it can create economic chaos in the country. so actually that's why we need regulation. with the regulation, the movement and development of bitcoin can be more stable and even the government can make a rule that can maintain a situation like this.

[Maamejane]

Its just simple they see Bitcoin as  a threat to their traditional currency and also looking at how far crypto is going if nothing is done to halt or unstable it will just overshadow and make many traditional currency less valuable.

[Oceat]

Its just simple they see Bitcoin as  a threat to their traditional currency and also looking at how far crypto is going if nothing is done to halt or unstable it will just overshadow and make many traditional currency less valuable.

All i can say is that they can't ignore this new technology that keeps on evolving everyday. What they did today will not going to stop it in the future, they will end up accepting it with new regulations. Some were just aware of the rampant scam complaints that they were receiving and these people keeps using crypto-currency a bad image.

[rossjamie]

I think bitcoin not good to be a substitute due to the unstable price of Bitcoin, but for Assets like gold is Okay. To prevent money laundry I think is not a good reason, money laundry still can do with alts and you know the Internet is free, no one can stop it, even illegal using your bank/credit card but you can trade your gift card or something

[beatzcoin123]

i think any transparent government will throw it support behind bitcoin, the main reason why most government are scared of bitcoin is due to the transparent and decentralized nature of bitcoin, so starching money in foreign accounts will become traceable through bitcoin. This is what the government doesn't want. They fear that adopting bitcoin will eliminate corrupt practices.

[Pattart]

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   .

almost all you say? even my country does not have a specific regulation on crypto, some neighboring countries have not yet determined response about crypto. only a few countries take tax from bitcoin, some countries forbid because they are afraid of possible losses because crypto is used for illegal activities..

[kalel18]

a factor that our government does not want bitcoin is because of the terrorism that should not happen and because it does not have taxes. but at this time the people who knows bitcoin is more increase, because they know that it has a potential for the treasure.

[bitfocus]

simple, government fear anything that promises freedom, and anything that they can't control.

[jonaire99]

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

I think there are only few countries that are against bitcoin and other cryptocurrencies. They believe that bitcoin is threat to their economy and they might have also monetary laws that bans a certain kind of currency while other nations are not prepared to allow this kind of currency. But this anti bitcoin sentiments might change later when a government studies cryptocurrencies and take a necessary steps before accepting the virtual currencies.

[Blocktopian88]

Firstly, the history of Bitcoin is not long enough to ensure we have abundant knowledge about it, cryptocurrency itself and the market is too fickle and volatile, to some degree, which means great dangerous. Government must ensure steadliness and security.

[erikoy]

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

As the other guys had thought on their replies that bitcoin were being used abusively and it intentions or purpose was not being utilized. Bitcoins were being drag many times with scam activities were people use bitcoin to scam other, use bitcoin as money laundering and even transaction for illegal activities. This is why other countries hate bitcoin so others haf made some step to regulate bitcoin to minimize or to prevent this happenings.

[greeklogos]

I would call the first reason the fact that crypto in many countries are out of law, that means there is no just such subject there and all exchange in crypto is impossible or out of law by this conditions. As I see such countries do not hurry to change something in the law's base to make crypto acceptable and legal. I think they are simply waiting to see an experience of other countries in that point, and in the case of positive usage I believe they may change something to not skip all advantages that crypto gives.

[cokroalif]

The main reason is the fear of these countries about the volatility and uncertainty of the digital currency. In addition, as quoted from bitcoinbans.com, another reason is the fear that digital currencies will be used as financing for terrorism.

[bitbunnny]

I wouldn't say that governments are trying to stop or ban Bitcoin but they are trying to regulate it. In order for Bitcoin and other cryptocurrencies to become part of financial system and accepted by businesses they should be legaly regulated. The main thing that bothers governments when it comes to Bitcoin is lack of control and because of that they feel threathend. They are also responsible for their countries and wouldn't like Bitcoin to.be used for illegal purposes or financing terrorism so I think this is very complex issue and government are not necessary the enemies of Bitcoin.

[Pettuh4]

The main reason is the fear of these countries about the volatility and uncertainty of the digital currency. In addition, as quoted from bitcoinbans.com, another reason is the fear that digital currencies will be used as financing for terrorism.

They didn't even start making these advances at regulating bitcoin just yesterday but its been there since Adam but they haven't suceeded and i don't think they will because terrorism has been in existence for a long time and there was no bitcoin so it means fiat currencies can the same way be used to sponsor such terrible acts so we shouldn't single out bitcoin alone.

[Abal Abal]

most of the reasons the government stops bitcoin because bitcoin has the potential for crime, besides that the government also cannot control the circulation of Bitcoin.

[den50]

Tax evading, money laundering and ofcourse it's a decentralized currency, that's why.

[Gheka]

most of the reasons the government stops bitcoin because bitcoin has the potential for crime, besides that the government also cannot control the circulation of Bitcoin.

Yes, some bad sectors have used bitcoin for fraud, and many people have become victims then complain to the government, which is a very headache for governments of countries, and everything has not stopped, underground organizations and forces constantly use bitcoin to launder money and illegally trade. And with such troubles, the government is forced to find ways to stop bitcoin, the government really doesn't want to ban it, what they want is to limit the number of people who participate in bitcoin, they don't want Bitcoin to create more troublesome problems and cause chaos for society

[carlisle1]

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

This has been tackled for how many times,but still the answer is not clear because every counthas their own reason in each issues.

But for me the main reason is being afraid for the effect crypto might bring to themnd their economy,lots of scams and illegal issues thrown to crypto community so this maybe the main reason for than