Reason why other ban cryptocurrencies

Koadharber

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Quote from: Savemore on December 12, 2018, 09:07:32 AM

Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Cryptocurrencies have also negative side and it is the reason why there are some countries that ban cryptocurrencies. The anonymity of the cryptocurrencies are using by some greedy people and bad person for their own satisfaction.

That's the reason mate why the government of some countries ban Cryptocurrency because of the negative impact and it is used by other people in bad ways,and also they want to protect their citizens that's why they not introduce it so that they are not victimized by a scam using Crypto transaction.

wahyu wida

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Quote from: TheWalkingCoin on December 15, 2018, 04:03:25 AM

Many people take bad situation with making altcoin scam project, many country have stop and banned for using bitcoin as investment or payment transaction because lower price and scam project take by other.

they considered it a game, so the government warned of its worst impact, and many forbade it afterwards. especially with the events of 2018, making many people eroded in their beliefs

astik1

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The main reason for any country to ban cryptocurrency is the fact that cryptocurrency are not under the control of any government.Government cannot control cryptos transactions.So in order to stop or we can say to prevent the misuse of cryptocurrency they ban them because people find it as a way to perform illegal dealings using cryptos as they know that they will not get caught.

TheWalkingCoin

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Many people take bad situation with making altcoin scam project, many country have stop and banned for using bitcoin as investment or payment transaction because lower price and scam project take by other.

niublity

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It is normal to ban cryptocurrency. The main reason is the abuse of ICO, which has led to countless investors being defrauded. Therefore, I believe that the abuse of ICO to disable the cryptocurrency market is normal. If I am a politician, I will choose to do the same.

zhanyiguai261315

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The cryptocurrency is too unstable, and it may be that overnight riches may be left in the night!
Moreover, there is no effective regulation of cryptocurrencies, and the government has no way to supervise, so the government prohibits cryptocurrencies!

Rooster101

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There are always reasons why some countries bans bitcoin and other cryptocurrency. These countries might have strict economic or currency laws that need to be amended if they want allow cryptocurrency to be use by their people. Other aren't even prepared with the increasing popularity of the cryotocurrencies so they temporarily restricted the use of it to study the possible impacts of these coins in their economy.

ConotCan

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Quote from: Indai24 on December 11, 2018, 11:52:44 PM

Quote from: andriarto on December 11, 2018, 10:57:56 PM

Quote from: Wingo on December 11, 2018, 04:00:44 PM

Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

The government is the number one enemy of cryptocurrencies. The main goal of cryptocurrencies is to offer freedom to the people. Cryptocurrencies is the most effective way to transact with complete anonymity. It is sometimes misused for illegal transactions. Bitcoin is used in the blackmarket for drugs and other illicit product, another reason why the government wants to regulate it. But the things is, cryptocurrencies cannot be controlled, it will defy its main purpose.

all new things must pass through government, because we live in a country. and I think government is not an enemy, even though it inhibits the development of bitcoin

One of the reasons why other countries ban crypto currencies is to prevent fraud from happening, because mostly transactions are from anonunymous unlike banks.

Yes there are many reasons why governments across the glob have banned the currency. Government will ban every thing that poses a threat to the interest of the nation so is the reason why is Bitcoin banned and not allowed to be used.

HB Wallet

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When there's something new and you haven't found a decent way to keep it under control, just ban it. Government runners like to have things under their control. Especially countries leaned more on the left side like China or Vietnam.

Savemore

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Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

Cryptocurrencies have also negative side and it is the reason why there are some countries that ban cryptocurrencies. The anonymity of the cryptocurrencies are using by some greedy people and bad person for their own satisfaction.

SeVenlast

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Quote from: sulendra12 on December 12, 2018, 07:34:03 AM

Quote from: glowing10 on December 11, 2018, 11:23:47 AM

How much revenue can govt earn from it and how will it be useful in long run. Some of the basic steps which anyone looks into .

Do you think Bitcoin could give you everything you need? No, that's not and some counties are banning cryptocurrencies because it could make the economy become much worse such as inflation and stuff also mostly Bitcoin used for crimes like terrorism, they want to avoid this.

Everyone has the right to judge how about Bitcoin and the negative impact that can be obtained from Bitcoin. That's how Bitcoin still has more detailed developments to make them trust Bitcoin.

erikoy

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There are so many reason why cryptocurrency has been ban in other countries. First cyrptocurrency was being abusively used by some users like doing money laundering, payment for illegal activities like buying illegal drugs, bitcoin has been also link to human trafficking and even offer as a payment in sexual activities. So other countries that are sensitive to this might ban cryptocurrency in their country.

sulendra12

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Quote from: glowing10 on December 11, 2018, 11:23:47 AM

How much revenue can govt earn from it and how will it be useful in long run. Some of the basic steps which anyone looks into .

Do you think Bitcoin could give you everything you need? No, that's not and some counties are banning cryptocurrencies because it could make the economy become much worse such as inflation and stuff also mostly Bitcoin used for crimes like terrorism, they want to avoid this.

posi

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Quote from: Wodomi on December 10, 2018, 07:48:12 AM

Quote from: fly99 on November 12, 2018, 03:31:45 AM

The ban on cryptocurrencies must be correct. The government is not afraid of cryptocurrencies, but is worried that many people will go bankrupt during the growth period. Only when the cryptocurrency market is re-accepted by the government will they be open. This is to protect the people, knowing that countless scammers want to rely on fraud to get rich overnight, which is much faster than any investor making money.

The government in principle accepts all new technologies with consideration of the added value that exists in these technologies. Why do many countries ban bitcoin, because of anonymous factors and high price fluctuations. The consideration is to protect citizens from losses that might occur if bitcoin is legalized in the country.

Youre somehow right but not totally right because the government you said are not really trying to protect their citizens from losses in terms of investing into bitcoin because almost every investors knew that bitcoin is very volatile but it always for postive side and every losses an investor encounter can still thrive back as profit. However, the government are against bitcoin because of it decentralized in nature and this is why some of them choose ripple, NEO and EOS cause they are all centralized coin.

BurgerCash

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Quote from: virasog on December 12, 2018, 05:44:33 AM

There is no regulatory authority which controls the bitcoins. Since bitcoin is decentralized, even if any country legally accepted it and use it as a main currency, the government will have no control over it. This is one of the major reason due to which governments are hesitant to adopt bitcoin.

Not to mention that no government would willingly give up its fullest ability to collect taxes, providing sweet benefits for many.
If any government is crazy enough to do such a thing, there would be riots on the streets the same night.
Unfortunately this is a problem caused by the common folk just as much as it's caused by governments.

virasog

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Quote from: trauchot on December 11, 2018, 10:51:06 AM

I think that many governments, of course, are afraid of manipulation and dirty money that are transferred through cryptocurrency, but I think that when the cryptocurrency will be regulated by the governments, technologies will be created that will change many cryptocurrency capabilities and then all countries will be able to begin legalizing cryptocurrency.

There is no regulatory authority which controls the bitcoins. Since bitcoin is decentralized, even if any country legally accepted it and use it as a main currency, the government will have no control over it. This is one of the major reason due to which governments are hesitant to adopt bitcoin.

houjinglong

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Transfer of funds must not be a reason for prohibiting cryptocurrencies. In fact, the ban on cryptocurrency is very normal. This is a loophole for scammers to face the law. It is correct that such a market is banned by the government. Therefore, the abuse of ICO will cause the cryptocurrency to depreciate.

resty

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Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

That's is also the opinion of many people but how we do better if we don't try how it works right? that is only a sample and trial to use but because of primary use to all if ever of course there will probably an additional feature creates for better service to all people.

Indai24

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Quote from: andriarto on December 11, 2018, 10:57:56 PM

Quote from: Wingo on December 11, 2018, 04:00:44 PM

Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

The government is the number one enemy of cryptocurrencies. The main goal of cryptocurrencies is to offer freedom to the people. Cryptocurrencies is the most effective way to transact with complete anonymity. It is sometimes misused for illegal transactions. Bitcoin is used in the blackmarket for drugs and other illicit product, another reason why the government wants to regulate it. But the things is, cryptocurrencies cannot be controlled, it will defy its main purpose.

all new things must pass through government, because we live in a country. and I think government is not an enemy, even though it inhibits the development of bitcoin

One of the reasons why other countries ban crypto currencies is to prevent fraud from happening, because mostly transactions are from anonunymous unlike banks.

andriarto

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Quote from: Wingo on December 11, 2018, 04:00:44 PM

Quote from: kenlyresuello08 on August 21, 2018, 01:13:27 AM

The main reason for prohibitions is very simple. Transfers in a currency different from the national one, lead to poor economic performance, including GDP (one of the main indicators). This way, it is easier to launder money or transfer funds outside the country. Neither banks nor payment processors will get their interest.
McCall Robinson a manager of Merchant Accounts, believes that most countries prohibit Bitcoin because it cannot be regulated and he said that. "Many governments do not like the very idea that there is another form of currency that they are not able to control. The supervision takes place on the Internet. Some countries consider it as danger to their society and government.

The government is the number one enemy of cryptocurrencies. The main goal of cryptocurrencies is to offer freedom to the people. Cryptocurrencies is the most effective way to transact with complete anonymity. It is sometimes misused for illegal transactions. Bitcoin is used in the blackmarket for drugs and other illicit product, another reason why the government wants to regulate it. But the things is, cryptocurrencies cannot be controlled, it will defy its main purpose.

all new things must pass through government, because we live in a country. and I think government is not an enemy, even though it inhibits the development of bitcoin

Topic: Reason why other ban cryptocurrencies (Read 4385 times)