Reasons why government would like to ban Bitcoin? - page 5.

Jawhead999

legendary

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Quote from: Macadonian on September 11, 2021, 08:58:14 AM

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,

mk4

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Paldo.io 🤖

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.

kenskie

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Quote from: Macadonian on September 11, 2021, 08:58:14 AM

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.

Quote from: ?? on ??

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]

Macadonian

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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

newbie

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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? Huh

May this answers we have here nailed in everyone's mind in this forum. For learning and importance.

Topic: Reasons why government would like to ban Bitcoin? - page 5. (Read 541 times)