Reasons why government would like to ban Bitcoin?

[kenskie]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

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[Macadonian]

What government has banned Bitcoin recently? I think the only countries which banned Bitcoin were those with dictatorships and want to control their population and their spending habits. If they allowed Bitcoin they would be allowing their citizens more freedom than they would like to give. China are the major player in restricting the usage of everything that is not China made and they have banned Bitcoin before because of the problems with people using it to not store money in Chinese banks. I think that is the major reason why governments would ban Bitcoin...to limit their freedom.

[kenskie]

What government has banned Bitcoin recently? I think the only countries which banned Bitcoin were those with dictatorships and want to control their population and their spending habits. If they allowed Bitcoin they would be allowing their citizens more freedom than they would like to give. China are the major player in restricting the usage of everything that is not China made and they have banned Bitcoin before because of the problems with people using it to not store money in Chinese banks. I think that is the major reason why governments would ban Bitcoin...to limit their freedom.

I love this answer, this is true one of the main reason. Chinese don't deposit their money(big amount) in bank, they're going for crypto investments instead.

I don't know any other reasons why bitcoin can be illegal besides the government believing that it's still being used by malicious entities for financing crimes and money laundering, anything other than that one is already much absurd than the already absurd one that I can think of. Other reasons that might include is that it gives freedom to people to some degree and the government in question wants to be in control then they might ban it.

If you read macadonian comment, I think it's one of the main reason don't you think so?

[moderator's note: consecutive posts merged]

[mk4]

One of the main ways the government controls their economy(and their people) is through the money. Obviously, since Bitcoin is permission-less and decentralized, it's the opposite of what they want in a currency.

That, and the fact that it's going to be difficult for them to tax gains.

[Jawhead999]

China are the major player in restricting the usage of everything that is not China made and they have banned Bitcoin before because of the problems with people using it to not store money in Chinese banks.

This is misconceptions,
China doesn't ban Bitcoin (holding, trading, etc) but they only ban Bitcoin mining, just like another misconceptions China's can control Bitcoin since they has over 51% Bitcoin hash rate.

In addition from other users mentioned above, another reason is :
1. Volatility, many people scared of volatility and prefer to hold Fiat even though Fiat always inflate, but it's more safe in price term.
2. Not tech savvy, most of people doesn't want to learn tech because it's hard to understand especially for old ages.
3. No physical appearance, they no have any idea what those number came from and just thinking it's only a random number that could be faked.

The term ban Bitcoin is just temporary, sooner or later we will see another countries will legalizing Bitcoin as legal tender and it makes other countries follow it especially the countries was successful after legalizing Bitcoin,

[cotton ball]

Bitcoin is also considered to be detrimental to the people of Indonesia. This is because the circulation is not regulated at all and does not receive a guarantee from the Indonesian government. Especially by the central bank or BI. Another reason is that Bitcoin has the potential to disrupt the financial stability of the country because of the high inflation of the value of money due to the Bitcoin trend.

[sheenshane]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

For the one reason, because all governments want revenue from their people and Bitcoin involve money that is considered taxable but in fact, people can hide their asset through Bitcoin and since it has a decentralized nature, they can't force their people to pay tax.  So now, banning Bitcoin is a fool decision by the government, how they can ban valuable numbers that only can be found in computers running with different nodes and holding by different people anonymously or pseudonymously, IIRC
 
Another factor is we know from the start government fighting with different fraudulent activities and since Bitcoin is prone to this activity, they want to manipulate their people or else prohibit them to use cryptocurrencies including Bitcoin.

[Ibrahim60]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

Bitcoin is a decentralized cryptocurrency. Because of its decentralization behavior no one can trace its transaction. For this reason bad people use it illegally and use it for laundering money. For this reason a countries economy face huge trouble. Also criminal use Bitcoin for buying illegal things. No government can control Bitcoin. Also government don't get any tax from it. For those reason government ban Bitcoin.

[bittraffic]

The Sharia LAW of Muslim countries I guess. This had been discussed in the forum for a while I see no reason for the Bitcoin ban this time since it's been regulated already. China use to ban Bitcoin but it had changed now.

Most countries will just follow what US is doing so if US isn't banning BTC, it's likely not going to be banned also to most countries.

[Ararbermas]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

for them there's a lot of problem with bitcoin, even though we all knows how good and life changer it is nowadays. in fact not just bitcoin wherein they are very against to the whole crypto currency and you know the common problem? They said that crypto will increase the black market trade in the country and of course the word "freedom" which for them are not good to implement.. Lol government wants to control each one of us, and it's very obvious tho.. so there's no way they will let bitcoin exist even how useful it's right now.. They are useless if that times happen.. Probably lol

[anthonycamp]

They want to retain and monopoly to their own paper money. They don't want people prefer any decentralized currency over their paper money. They blames that Bitcoin is evil for a single reason, they say that Bitcoin is a tool for money laundering. But I am amazed that the lion's share of money laundering and bank robberies in the history of the world has been due to banks. In fact, they want to manipulate the economy, they want the rich will die as rich, and the poor will live like poor forever. They do not like decentralized systems and principles of justice for everyone.

[The Cryptovator]

First of all please try to use the forum search button when you are going to make a common question. Most probably hundreds of times have been discussed about this matter. However, almost all answers will be similar here. Just keep in mind, centralized and decentralized systems are conflicting with each other always. Those governments like to ban Bitcoin means they are strongly want to control their economy. If they legalize Bitcoin then it's quite impossible to control by governments. That's the reason, but the government simply will not admit that, they will make thousands of excuses to ban Bitcoin.

[Fortify]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

Why is it illegal? It is not illegal in most countries and it tends to be authoritarian countries where it has been banned. These kind of governments want full control of their citizens in order to exert pressure, if people within these countries have the ability to hold cash outside of the control of government then they are less vulnerable to manipulation and sometimes even officials have been known to hold cryptocurrency as a way to move currency overseas. There are very few situations where it is "for earning & living", it is mostly used as a currency for moving cash around without banks, a tiny almost insignificant amount of people are currently paid in the form of Bitcoin for their salary, so that is a moot point.

[dkbit98]

Government is all about control and they don't have any control over Bitcoin so that is the reason they will try to ban it first, when they understand this is not really possible they will join Bitcoin.
China banned Bitcoin mining because they want to push their centralized digital yuan but I know that people of China is still using Bitcoin, and many mining pools are still from China.
Your digital yuan account can be switched off whenever you are not being good citizen or when your dictator wants to cut you off from economy for whatever reason, that is impossible to do with Bitcoin on your own wallet.
I think there is a race in the world currently after Venezuela added Bitcoin as legal tender and currency, and Panama announced they will do something similar like that.

[Leviathan.007]

Which government do you mean exactly? If you are talking about China you will need to read more about how communism works and don't expect more from China as communism. However, since bitcoin is providing anyone anonymous accounts and people can have borderless transactions without any third paty included in the transaction, that's completely normal to see the governments and some related organizations are against it but since they see the demand and popularity of bitcoin between people, they usually will not act against it or better to say they can not complete ban it.

[Dewi Aries]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

In my mind, mostly because they not want their fiat interupted by anything. Like in my country, although we can use it as an assets, people can't use it as currency or payments. Not only crypto, even marketplace's coin like balance that named by the marketplace must be changed to fiat currency.

[jossiel]

Because it's simply doesn't have to go through any government owned or produced medium of exchange.

That's why there are governments that are against to it and they don't like bitcoin that much because it's decentralized and against to the likes of the governments.

[Fatunad]

I would like to read your opinions about this topic, what are the reasons? Why is it Illegal? the fact that it is for earning & living?   May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

Everything which is opposing centralization would really be not appealing on governments eyes which it isnt surprising that they would really be seeing it to be that illegal or wont really be accepted.
We've seen several governments had accepted but not totally adopting it on general sense.Yes, i does really give out some opportunity for people to earn but not on making a living because
crypto earnings or gains cant really be make as a stable income considering that this market is really unpredictable.Thing here is that you do able to make some profits somehow which
is really helpful.

[jakdanyel]

I think that the main reasons can be listed like this:

- High volatility
- Being afraid of it thinking that Bitcoin would harm the economy

Some governments still don't want to accept Bitcoin or they even want to ban it because of its being highly volatile. They are warning their citizens about this situation many times and they don't want them to lose their money easily. It is good that they think about their people but there is no meaning in banning Bitcoin. Because Bitcoin exists with the aim of giving people the freedom of using itself freely. If governments continue to ban it, Bitcoin will not be able to fulfill its goal. They should just let people do whatever they want by monitoring the situation also.

[TinaK]

Because bitcoin can be a tool of different scam activities or a fraudulent one.
Our governments were always hated fraudulent activities such as hacking and scamming people, to protect their people from those financial losses, governments want to ban it but they will realize that they cant. Plus another reason for banning is that they can't able to monitor their people's money activity against possible laudering money and even putting tax on large transactions online.