Countries have banned Bitcoin; Do you believe is because of criminal activities

[yudi09]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

The embedding of the "criminal" name behind some countries' bans on Bitcoin is too negative. If the reason for the prohibition of countries against Bitcoin is criminal, then the percentage of truth is very small.
It's been 8 pages of this thread since you created it and various opinions and explanations have been submitted regarding this. I think it is quite clear that the main conclusion is that the Government cannot control it.

[m2017]

Imo, criminal activities were there before bitcoin even came into existence. It is just an excuse. Cryptos being of decentralised nature are highly potential and governments are afraid as they have no control over cryptos.

What you're saying makes a lot of sense, because it's not about criminals happening but about not being able to have control over crypto itself by the government because of the decentralized nature of crypto. So the reason for the occurrence of crime is a nonsensical reason because crime can happen to anything if someone wants to do it with very bad intentions.

Bitcoin is just a tool that can be used for anything. If it is used for crime, of course it is not bitcoin that is the center, but the user. It's the same as fiat money used to buy illegal weapons, of course fiat money can't be said to be a supporter of crime, but the perpetrators.
The government does not have full control, but every transaction in bitcoin can be tracked by anyone because transactions are recorded on the blockchain and are transparent, the FBI will easily find the source of funds and where the funds end up.
a country that tries to ban bitcoin for reasons of criminal activity, of course, is only an alibi not to use bitcoin because they can't control it.

For criminal purposes, it is easier to use ordinary money, cash, which, in principle, is used in all countries of the world. The share of bitcoin in criminal money is exaggerated by the media thanks to government tips to scare ordinary citizens away. Otherwise, God forbid, they will start using bitcoin en masse, and then there will be no one to control, holding their wallet in his hands. Governments only come up with strange excuses that no one in their right mind would believe. To fight crime, they are not trying to ban traditional money instead of bitcoin. As you said, bitcoin is just a tool that can be used for both good and evil. This is the same as if you ban the use of a kitchen knife: after all, they can't only cut vegetables.

[Victorik]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

I think the major reason why some countries are banning cryptocurrencies is because they can't regulate it and so they believe they have no control over it, hence, the ban.

As per using it funding crime, that's not completely true. Crimes are also been funded with Fiat, even before the Advent of cryptocurrency

[teosanru]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Actually it's both a yes or a no, criminal activities all on all is a big reason why governments are against bitcoin because it's untraceable so any such activity will go anonymously. Moreover tax evasion is also a big concern for the governments obviously as it is their share of money which doesn't comes to them whenever people use bitcoins for their earnings. So all on all I won't say that governments are wrong in being selfish and banning Bitcoins for making their work easy but the thing is when a new technology comes in it brings it's challenges as well so governments should try to solve the challenges rather than behaving in such a manner.

[Franctoshi]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Yes, that is the captoin that they gave it not taking into account that the fiat currency has equally contributed so much in money laundering and criminal activities more than cryptos in general , but I do think that this is  because of their lack of understanding about Bitcoin that lead them to banning Bitcoin even in my country there was rumoured gathered that ones of the reasons why the federal government through CNB in my banned cryptocurrency transaction was base on the fact that Bitcoin played a major role in the END SARS  protest ,in that they used Bitcoin as a means of donation in sponsoring the end SARS protest that happened in my country around November 2020, though the government did not officially announced it.

[Vaculin]

It's been discussed 100s of times here. But for the most part it seems to come down to taxes. If you can move large amounts of money in whatever form without the government knowing then they don't get their tax revenue. So they try to regulate & control ways of moving money so they do get their cut of it.

Anything else is all smoke an mirrors and excuses.

-Dave

I fully agree that any government wants to receive taxes on every sale of goods and services. In fact, this information is not at all new to many. Trying to ban bitcoin is a way to stall until there are ways to get taxes from it. Once they figure out how to do that, all bitcoin bans will be lifted. Also, an element of control is still important for them: who, where, what money sends and the ability to block any transaction that is available in the traditional financial system. So money and control are the most important thing for them, and under what pretext they forbid it these are all trifles.

That is the most valid reason why they keep on banning bitcoin, because bitcoin is decentralized and that there is no way for them to trace all its citizens transactions. But if they start regulating it, they can control it little by little, but unlike fiat where they can take its full control. However, I don’t see banning of bitcoin will be lifted in the future, as long it remains to be not centralized. The government is only concern of their citizens fiat activities, something that they can’t completely do it if there is bitcoin that is blocking their own interest to control the fiat activities of all people.

[Artem Sereda]

LOL, no, of course, the strange ones who block bitcoin do it most likely because of the impossibility of imposing taxes on it, because in other cases, all compromising evidence that is beneficial to the authorities of one country or another is bought on the darknet for bitcoins))

[swogerino]

It's been discussed 100s of times here. But for the most part it seems to come down to taxes. If you can move large amounts of money in whatever form without the government knowing then they don't get their tax revenue. So they try to regulate & control ways of moving money so they do get their cut of it.

Anything else is all smoke an mirrors and excuses.

-Dave

I fully agree that any government wants to receive taxes on every sale of goods and services. In fact, this information is not at all new to many. Trying to ban bitcoin is a way to stall until there are ways to get taxes from it. Once they figure out how to do that, all bitcoin bans will be lifted. Also, an element of control is still important for them: who, where, what money sends and the ability to block any transaction that is available in the traditional financial system. So money and control are the most important thing for them, and under what pretext they forbid it these are all trifles.

That is the most valid reason why they keep on banning bitcoin, because bitcoin is decentralized and that there is no way for them to trace all its citizens transactions. But if they start regulating it, they can control it little by little, but unlike fiat where they can take its full control. However, I don’t see banning of bitcoin will be lifted in the future, as long it remains to be not centralized. The government is only concern of their citizens fiat activities, something that they can’t completely do it if there is bitcoin that is blocking their own interest to control the fiat activities of all people.

Most countries,even Russia one time tried to ban it,also my country has come up a lot of times with different laws to stop it because the main reason was that they want a share.My country now is going starting from 2024 to regulate it and want a tax from every sale that you make from your Bitcoin,even if you have mined it and paid the electricity cost for it when you sell it to some exchange they want 15% of the amount as tax,of course smart people will exchange P2P as paying 15% tax is outrageous.

That is the reason,and not because of criminal activities because only 0.04 % of criminal activity is run with Bitcoin,the rest is run with FIAT as we all know.

[Abiky]

Bitcoin is just a tool that can be used for anything. If it is used for crime, of course it is not bitcoin that is the center, but the user. It's the same as fiat money used to buy illegal weapons, of course fiat money can't be said to be a supporter of crime, but the perpetrators.
The government does not have full control, but every transaction in bitcoin can be tracked by anyone because transactions are recorded on the blockchain and are transparent, the FBI will easily find the source of funds and where the funds end up.
a country that tries to ban bitcoin for reasons of criminal activity, of course, is only an alibi not to use bitcoin because they can't control it.

That's certainly true, mate. Just like the Internet, Bitcoin is a double-edged sword. It all depends on how you use it. Some people use it for bad things, while others use it for good things. We cannot control what people can or cannot do on the Bitcoin blockchain because of its decentralized and censorship-resistant nature. I guess that's why most governments are against Bitcoin, putting every obstacle in order to prevent as much people as possible from getting access to it.

Oppressive countries like Russia and China have "banned" Bitcoin, but that doesn't mean anyone can't interact with the Blockchain directly. I think countries will eventually give up on their task to "destroy" Bitcoin, as the cryptocurrency becomes too big to fail. As it's said in the real world, "if you can't beat them, join them". Who knows if countries who "banned" Bitcoin will change their mind sometime in the future? Just my thoughts

[bitterguy28]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

Lol it has been answered long time ago for thousand if not million times , if the criminal has no chance in using Bitcoin to use for their activities then why there are still crimes happening worldwide?
even before bitcoin there are already crimes that in situation , those government are only looking for defenses but the truth is? their banks are being triggered  by the presence of Bitcoin and crypto so they are trying to fool people by reasoning differently .

[Anonohmon]

It's literally never that reason. It's always about control and money. I'd respect these governments if they were at least honest about the reason. "Hey, we just dont want the common man becoming financially independent because we have less control over them that way and it upsets the ruling class. Nothing personal"

Instead of this bullshit about OUR safety...

[BlackBaron]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

They know Bitcoin is only an investment method to earn in fiat, they know that and they know Bitcoin can't be spent like fiat in general, the reason for that crime is just a brand for what is signaled to the public.

What you need to know, countries that prohibit Bitcoin are not because of crime, but they don't want rich people, their will, the people must always submit to the state in any form, if a lot of people invest and make a lot of money, government banks die / lose, no one wants to apply for loans, that's what the government is afraid of.

[famososMuertos]

.../Q/...:

I think the major reason why some countries are banning cryptocurrencies is because they can't regulate it and so they believe they have no control over it, hence, the ban.
....

This issue goes beyond simple regulation or the classic issue of taxes, it is what is always said, but there are already countries that have legislation/control and others even collect taxes.

Any control that is presented will always be to individuals, you are the one who reports and they monitor your transactions but that does not mean control over bitcoin, which is in a way the heart of the matter, because bitcoin technology will always be available to be a pressure way.

Now, that, like the Fiat currency, if we act as individuals and not as a group of users, will serve so that they have dominion over each one of us.

With bitcoin it is the empowerment of the citizen, improved in the technology that bitcoin represents.

Then it is ironic to say that perhaps the main promoter of these prohibitions are the users themselves, who do not demand or worse still do not know or do not want to use bitcoin.

[CryptoHeadlineNews]

Almost all people know with how potential with bitcoin as investment assets for the future than keep hold and save money on the bank without any increasing. I think if keep make bitcoin can legal on many countries will difficult to find people prefer save money on the bank than saving money with bitcoin assets as their investment on the future.

Yes. You are very right on this, because despite the fact that Bitcoin fluotuate, it is still the best long term investment for the future, and unfortunately the government and banks knows this and that's why they keep fighting to restrict citizens of it's used, so they could compel citizens of the use of fiat where they have total control over the funds of the masses. But with the little knowledge I have got from Bitcoin, I can never advise any individual to invest a long capital with the duration of 5 to 10yrs in bank anymore, or either centralized exchanges, because that's the mistake most people make trusting such long term fund to a centralized exchange, that could run away after been hit by a deep bear market

[Abiky]

It's literally never that reason. It's always about control and money. I'd respect these governments if they were at least honest about the reason. "Hey, we just dont want the common man becoming financially independent because we have less control over them that way and it upsets the ruling class. Nothing personal"

Instead of this bullshit about OUR safety...

Governments don't want to reveal their true intentions, in order to give people the perception of safety/security. If they did tell the truth, then people would've been panicking all of the time. We all know the main reason why countries ban Bitcoin. And that's because they don't want to lose control over people's lives. Something that's decentralized and censorship-resistant, could threaten the very existence of traditional Fiat currencies. While Bitcoin's been extremely popular, it hasn't replaced Fiat yet because governments have been trying to keep it afloat. They try to undermine Bitcoin in order to drive away as much people as possible from Bitcoin.

At least, we can be confident Bitcoin won't be going anywhere thanks to the way it was designed. Decentralization is still winning, despite failed attempts to centralize everything. 99.99% of "shitcoins" will disappear, while Bitcoin will grow bigger and stronger than ever. As long as the majority stands with Bitcoin, there should be nothing to worry about. Just my thoughts

[lizarder]

Most countries are giving excuses and  reason for banning Bitcoin is because it can easily be used to fund crimes.
But I think they are afraid of losing control of their citizens' financial activities because they believe being the ones regulating financial activities makes them powerful.
What are your thoughts

It has not been proven that the use of bitcoin is committed for crime, from the cases that have ever existed, it shows that it is not in large numbers, in fact fiat currency also dominates crime when compared to bitcoin, this does not make sense to outsmart the reasons for crime.

But the fear of losing control of financial activities, this is a little more reasonable, but in my opinion it is not the finances of the citizens, but rather the local government, because if the reason is citizens, at this time we have adopted bitcoin in the application of investment or financing of certain goods and services.

Criminal activity involving bitcoin is very small according to my knowledge?

[Abiky]

It has not been proven that the use of bitcoin is committed for crime, from the cases that have ever existed, it shows that it is not in large numbers, in fact fiat currency also dominates crime when compared to bitcoin, this does not make sense to outsmart the reasons for crime.

But the fear of losing control of financial activities, this is a little more reasonable, but in my opinion it is not the finances of the citizens, but rather the local government, because if the reason is citizens, at this time we have adopted bitcoin in the application of investment or financing of certain goods and services.

Criminal activity involving bitcoin is very small according to my knowledge?

Criminal activity on Bitcoin may be small, but governments don't care because all they want is to stay in control. Something that's decentralized and censorship-resistant takes the power away from the governments and central banks and gives it to the people. That's why we've seen constant opposition towards crypto/Blockchain tech these days. Even countries that are "friendly" towards Bitcoin and other cryptocurrencies have very strict rules (mainly the US). We will never replace the current financial system if governments are in the way.

Because Bitcoin has so many enemies, it will only remain as an alternative to Fiat for generations. We're going to have to see if people will still be allowed to use Bitcoin after CBDCs become a reality. China and Russia "banned" Bitcoin after launching their own CBDCs, so my guess is that other countries will do the same to stay in power no matter what. Let's hope Bitcoin stays decentralized so nothing could stand in its way. Just my opinion

[Minor Miner]

~ I think if keep make bitcoin can legal on many countries will difficult to find people prefer save money on the bank than saving money with bitcoin assets as their investment on the future. Will have moving assets from money to be bitcoin as saving fund if really make it legal currency transaction.

I think this is exactly what governments fear to happen, and the more difficult it becomes to legalize bitcoin, the government will not be able to accept the loss of control to someone else. For us citizens, bitcoin is absolutely beneficial, but for the government bitcoin is the enemy, so it is not surprising that the government strives to stop bitcoin at all costs. It isn't easy to see bitcoin becoming a legal currency.

[AicecreaME]

There are countries that are not really into bitcoin because their leaders are not fond of it, have the wrong impression and understanding of it, and are scared of it. I think the reason why there are still countries which are against in adopting bitcoin are the aforementioned individually, and perhaps mix of it.

Some people even the most educated ones are even unaware or only have a little knowledge about bitcoin. They lack understanding of it which makes bitcoin scary to their perspective. And some are just downright greedy or do not really want it because of the potential it holds. Since bitcoin is a decentralized asset, givernment have little to no control over it. In terms of taxation, they don't get to tax it directly, but only in exchanges transactions. Which is why they do not really agree with legalization of bitcoin. Money matters and perhaps security reasons as well. Because other crypto activities are already infiltrated of schemes and scammers which the government officials are wary about.

[BobK71]

~ I think if keep make bitcoin can legal on many countries will difficult to find people prefer save money on the bank than saving money with bitcoin assets as their investment on the future. Will have moving assets from money to be bitcoin as saving fund if really make it legal currency transaction.

I think this is exactly what governments fear to happen, and the more difficult it becomes to legalize bitcoin, the government will not be able to accept the loss of control to someone else. For us citizens, bitcoin is absolutely beneficial, but for the government bitcoin is the enemy, so it is not surprising that the government strives to stop bitcoin at all costs. It isn't easy to see bitcoin becoming a legal currency.

Yes, the government will lose control over its citizens financially. They did not underestimate in any way. But on the contrary they are not able to find any solution. As a result they are finding no other way but to restrict it. However, due to public enthusiasm and pressure from various sides, we have seen the government of India legalize crypto investment. I think it should be considered whether it can be allowed or not by discussing with the expert in the same way.