The most obvious reason for the government to ban Bitcoin is that it is not regulated. This is due to the confidentiality of Bitcoin, which provides convenience for some illegal organizations to conduct transactions, money laundering and other activities, and may accelerate the development of illegal organizations! Have an adverse impact on the country's economic development.
The government should immediately ban everything illegal organizations may use for their villainous purposes. For example, roads. How do you regulate roads? How can you prevent criminals from driving automobiles? The only way you can do that is by prohibiting automobiles and the use of roads whatsoever. Honest people who used those in their everyday honest life are now punished too. What else criminals can use to launder their dirty money? Banks running by corrupted bankers! Let us prohibit the use of banks as well as the dollar itself because it is considered the most convenient currency to transact anonymously. It doesn't matter that honest people spend their entire life hard working to earn "dirty money of banks" to feed their family. We should ban the dollar because someone unwanted used it too. You are not, however, demanding to ban all of that. Instead, you want to ban the only currency that helps honest folks to save their hard-earned money, that protects them from inflation and corrupt bankers, who, as we learned, have been so far busy laundering dirty money. 
Topic: Reasons why government would like to ban Bitcoin? - page 2. (Read 541 times)
The most obvious reason for the government to ban Bitcoin is that it is not regulated. This is due to the confidentiality of Bitcoin, which provides convenience for some illegal organizations to conduct transactions, money laundering and other activities, and may accelerate the development of illegal organizations! Have an adverse impact on the country's economic development.
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.
Bitcoin is a virtual payment system that is not controlled or regulated by any central government or private institution. Participants in the Bitcoin system can easily hide their identities, and the government cannot control the domestic economy. Many criminals commit crimes through anonymity (money laundering). 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.
The answers been the reason while government what to ban bitcoin is not really official or been to know to us individual , so everyone will portray he or her point of view while government is kicking of the Vital or generally development of bitcoin, from my perspective government really want to be in control of bitcoin and since the privilege is not giving to them, they are looking for means to abolish the adoption and potential usefulness of bitcoin across the nations, bitcoin can't manipulated because it's digital and it determine it's regulations by itself, by if government take over it, then it's obvious that it's accuracy will be reduce and their will be no liable source to invest with crypto.
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.
That, and the fact that it's going to be difficult for them to tax gains.
In other words, it doesn’t fit into the economic and financial structure. In my own opinion, for nations with a ban on bitcoin or any other cryptocurrencies, the cons exceed the pros that’s why they ban it. And until it is endorsed by IMF, World Bank or one of the world’s super powers, it is likely going to stay that way for a long time to come.
Different Countries have different views over Bitcoin. Very few take it on the positive side whereas the majority have a negative opinion over bitcoin. Now this has been gradually changing with the massive number of active participants on the cryptocurrency market. Even governments have begun to legalize its usage on all needs.
Most of the government that are against bitcoin usage at present believe on a statement, bitcoin will affect the country's economy. Maybe in the future these countries will realise on missing the right moment.
Most of the government that are against bitcoin usage at present believe on a statement, bitcoin will affect the country's economy. Maybe in the future these countries will realise on missing the right moment.
I feel like Governments will not fully embrace bitcoin. Even though they might allow for the use of cryptocurrencies in their country, there would be strings attached like regulations,rigorous KYC/AML requirements and a bunch of other stuffs and these things defeat the purpose of crypto because they were built to be open and decentralized but Govt will always wantvto be in charge.
Different Countries have different views over Bitcoin. Very few take it on the positive side whereas the majority have a negative opinion over bitcoin. Now this has been gradually changing with the massive number of active participants on the cryptocurrency market. Even governments have begun to legalize its usage on all needs.
Most of the government that are against bitcoin usage at present believe on a statement, bitcoin will affect the country's economy. Maybe in the future these countries will realise on missing the right moment.
Most of the government that are against bitcoin usage at present believe on a statement, bitcoin will affect the country's economy. Maybe in the future these countries will realise on missing the right moment.
In a country like Nigeria where cryptocurrency and anything affiliated to it has been banned, this step by the government wasn’t backed by genuine reasons. Poverty is a card for these set of people. They hate to see the masses liberated. They understand clearly how powerful it is to not be at the mercy of the government when it comes to personal finances.
At the moment but different countries have accepted bitcoin legalization. Again some countries did not legalize bitcoin. However, in countries where bitcoin has not been legalized, there are many problems.You have given very little in the least developed countries. And has given legitimacy to bitcoin, especially in developed countries. And in all the countries where legitimacy has not been given, there is a problem
Here are some reasons why government would like to ban bitcoin:
1) Decentralized : Bitcoin is a decentralized currency that cannot be control by the government. Government need a currency they can control at anytime they want in the country.
2) Unpopular: Fiat money is more popular than bitcoin in the country, and many citizens are finding it difficult to make use of it in some community.
3) Negative trust: Government are looking at bitcoin as a currency that came to eliminate their fiat money. It increases and decrease anytime, any day without the concept of the government.
The 3 reasons you mentioned why the government banned bitcoin are true.1) Decentralized : Bitcoin is a decentralized currency that cannot be control by the government. Government need a currency they can control at anytime they want in the country.
2) Unpopular: Fiat money is more popular than bitcoin in the country, and many citizens are finding it difficult to make use of it in some community.
3) Negative trust: Government are looking at bitcoin as a currency that came to eliminate their fiat money. It increases and decrease anytime, any day without the concept of the government.
But regarding the popularity of bitcoin, it may not be popular as a substitute currency because it has a higher risk than Fiat. Fiat remains the primary means of payment.
Actually, several state governments are reviewing whether bitcoin can be optional as a payment currency other than Fiat. However some heads of state are legalizing bitcoin only as a commodity trading and will not go beyond that.
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.
May this answers we have here nailed in everyone's mind in this forum. For learning and importance.BTC was being used as a bridge for other people like drug dealers and terrorists to make illegal transactions in which the government won't be able to stop them. With that being said, online transactions made through blockchain technology is out of the government's hand so they cant properly monitor and intervene with such illegal activities
The government is a leading organization of all countries and they always want to control all transactions as well as legal buying and selling activities through paying taxes, but because BTC was born for the opposite purpose. with their regulation that's why they don't want to accept BTC and want to ban it from all of us.
it's true as you said, the reason the government doesn't accept bitcoin, is because against the government, the government can't control bitcoin, and can't control bitcoin, the new government accepts bitcoin, if they can control bitcoin, and everyone who adopts bitcoin, is under government supervision.
The government is a system designed to govern subjects who happen to live on the territory the government has control over. To effectively govern those living on the territory, the ruling class has an exclusive right to exercise violence. This is essentially a monopoly on the use of force, which the non-ruling class obviously shouldn't have. As we all know, monopolies aren't a good thing because the lack of competition leads to worse products and services. Moreover, no one can protect you from the government itself: you're not allowed to use force. No one can, except bitcoin. Bitcoin is not a violent force nor an aggressive means. It is purely defensive technology that makes you self-sovereign, monetary independent, and free. Governments don't like such a state of affairs, they don't like the idea of you having a defensive tool to lower their influence. They want you to be dependent on them, otherwise, they won't have full control over you. They are trying to ban bitcoin so that you can't use it to escape.
The government is a leading organization of all countries and they always want to control all transactions as well as legal buying and selling activities through paying taxes, but because BTC was born for the opposite purpose. with their regulation that's why they don't want to accept BTC and want to ban it from all of us.
It's not the transactions that they're trying to control but the people. For me, that's the only reason why they will ban bitcoin or restrict it and mask that restriction as a regulatory policy to protect the people when it's not really the case. 
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.
Simple answer is .. May this answers we have here nailed in everyone's mind in this forum. For learning and importance." If they cannot control then they will Deny" that is simple reason why Governments are banning and not allowing the use.
because those countries that already accepting bitcoin and there are already adopt bitcoin as legal tender knows the betterment of their economy can be helped by Bitcoin .
Let them ban bitcoin but let others welcome it thats all.
Some developing countries that I know do not completely ban bitcoin, but rather to control bitcoin, because the high risk of bitcoin makes the government worried that it will affect economic development.
when bitcoin reaches the highest hype as it is today, of course the government's strong desire to control bitcoin is getting bigger. Even countries like China blatantly prohibit bitcoin.
bitcoin can not be regulated by anyone even the government, they can only manipulate and some other things that will bring bitcoin down. Bitcoin pros and cons will always be there.
when bitcoin reaches the highest hype as it is today, of course the government's strong desire to control bitcoin is getting bigger. Even countries like China blatantly prohibit bitcoin.
bitcoin can not be regulated by anyone even the government, they can only manipulate and some other things that will bring bitcoin down. Bitcoin pros and cons will always be there.
To be precise, Bitcoin cannot be completely banned at all. Because Bitcoin does not belong to a certain company or organization, it can be said to be closed. Bitcoin belongs to the tens of thousands of people who own Bitcoin. As long as there is a network, Bitcoin can survive.
To prevent money laundering and prevent illegal transfer of assets.
Bitcoin is a currency that cannot be regulated, so it must be killed in the cradle. However, Bitcoin has been banned again and again in many countries, and it has come back again and again, becoming more powerful.
Many countries have already recognized the reality and know that the wheel of history is constantly moving forward. Instead of being abandoned by the times, it is better to learn to keep up with the pace of the times.
To prevent money laundering and prevent illegal transfer of assets.
Bitcoin is a currency that cannot be regulated, so it must be killed in the cradle. However, Bitcoin has been banned again and again in many countries, and it has come back again and again, becoming more powerful.
Many countries have already recognized the reality and know that the wheel of history is constantly moving forward. Instead of being abandoned by the times, it is better to learn to keep up with the pace of the times.
The government is a leading organization of all countries and they always want to control all transactions as well as legal buying and selling activities through paying taxes, but because BTC was born for the opposite purpose. with their regulation that's why they don't want to accept BTC and want to ban it from all of us.
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.
May this answers we have here nailed in everyone's mind in this forum. For learning and importance.In some countries people are using bitcoin as their earning and they tend to save money for their own good which is good but some of the this countries they dont have a law for taxing cryptocurrency. So in their perspective, its like you are committing tax evasion although it is legal.
Today, fewer countries are still against Bitcoin, governments have finally legalized Bitcoin or cryptocurrency in general, but from the remaining governments that have not yet legalized BTC, since BTC is decentralized, no government can actually take control of it, some of these governments want power over Bitcoin but they cannot, this is not the only reason why but possibly one of the many reasons why they will not legalize Bitcoin on their country.
Jump to: