Topic: Many Countries Government trying to stop bitcoin, what reason ....... (Read 1518 times)
January 05, 2019, 04:08:58 PM
I think that it’s simply unprofitable for the government of many countries to do this, so they use extreme measures of interception
January 06, 2019, 02:13:15 AM
We all know that government rely on tax to execute most of it's electoral campaigns, now with bitcoin transactions where anonymity is the order of the day, the government is unable to generate revenue through taxes, because bitcoin transactions are not traceable. If this kind of transactions becomes generally adopted, this will mean that tax will be abolish. That's why the government is trying to stop bitcoin or bring it under it's regulations.
January 06, 2019, 01:07:43 AM
They want it to be highly regualated. Bitcoin always getting associated with money laundering by non-supporters and it really happens so that issue is like the tall wall that keeps other countries to reach bitcoin to make adoption happen.
January 06, 2019, 12:18:50 AM
Many country have stop and banned bitcoin as transaction and investing, they have doing it because many their people have lost much money with buying at higher price and bitcoin really at lower price now.
January 05, 2019, 11:51:50 PM
for now there are not too many because some governments in various countries have started to see bitcoin and the technology that is owned by bitcoin so I am sure for sure someday all countries and their governments will receive bitcoin payments and circulation.
January 05, 2019, 04:42:40 PM
Bitcoin is a digital currency and no governments can't track the transactions identity perfectly! Besides this, bitcoin is totally tax-free so they think bitcoin is not helpful for the country! Especially, many countries in Asia have banned bitcoin, otherwise, most of the countries are endorsing bitcoin!
January 05, 2019, 04:05:30 PM
The first reason for that they don't want to lose their authority to issue money on the market. Issuing money is the most profitable business on the world. You take some paper and materials and you convert them into something valuable. If number of currencies on the market is increrased and some of newcomers like bitcoin get more attention, their currencies are not preferred on the market and it will cause a drop on the value of theirs.
they are concerned that the circulation of money outside their monitoring will cause massive inflation, but actually this can be handled appropriately if the government is able to make very clear regulations. The most sensitive is that until now they were unable to make it. So it's clear that their fears are getting stronger because bitcoin is growing rapidly in their country.
January 05, 2019, 02:57:09 PM
The first reason for that they don't want to lose their authority to issue money on the market. Issuing money is the most profitable business on the world. You take some paper and materials and you convert them into something valuable. If number of currencies on the market is increrased and some of newcomers like bitcoin get more attention, their currencies are not preferred on the market and it will cause a drop on the value of theirs.
January 05, 2019, 02:05:40 PM
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
Another reason is.... their own currencies aren't stable and they can barely control them.
January 05, 2019, 12:57:37 PM
anyone know what reason stoping bitcoin many countries,,,,,,,,,,what reason ?
One of the main reason why some or most of the country are trying to stop it, probably, because of of its unique features which bitcoin has and its decentralization of course, were each government of the country has no capability to control over it, due to it is unregulated business industry in my opinion on this matter anyway.
January 05, 2019, 11:43:35 AM
The reason why countries oppose the technology of bitcoin or blockchain is quite clear. They have always been cautious about the formations that governments cannot control. They will continue to act.
January 05, 2019, 10:00:25 AM
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
January 05, 2019, 09:08:12 AM
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 January 05, 2019, 08:54:57 AM
Tax evading, money laundering and ofcourse it's a decentralized currency, that's why.
January 05, 2019, 08:45:25 AM
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.
January 05, 2019, 07:31:13 AM
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.
January 05, 2019, 07:15:01 AM
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.
January 05, 2019, 07:10:21 AM
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.
January 05, 2019, 04:16:46 AM
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.
January 05, 2019, 04:15:35 AM
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. Jump to: