Topic: why bitcoin is banned by the government - page 16. (Read 2037 times)
Of course the government wants to tax any activity on its territory. It is possible that somehow this will be implemented in the form which will suit both sides. Also there is a very large resistance from the bankers investment walk past. Personal opinion - the title of the only do not apply.
Government wields power and money gives power (I don't personally like the term power in this context, but it is the truth). So, the fact that "we the people" can have our economic freedom (power) is a major concern for governments at this time. Once major of the super governments figure out to regulate it to their advantage, it will no longer be banned.
Quick attempt @ summary:
#1 Wealthiest demographics wield the most powerful political influence.
#2 Wealthiest demographics generally do not want young, hungry, upstarts starting a business in their garage which turns out to be the next apple or google.
#3 Small businesses have the potential to upset the status quo and could dethrone giants in banking, finance and other sectors. This implies those living on the top of the mountain could make some effort to maintain their reign while preventing others from climbing up the mountain after them.
#4 To some extent its in the wealthiest demographics self interest to maintain thire status quo, which implies keeping things like bitcoin which have potential to overthrow banking cartels, in check.
The technology world is proliferating and virtual currencies are booming, so many people think that Bitcoin is the currency that will survive and replace the dollar, I think not only does it replace the dollar That would change other currencies like Eru or sec, in other words, Bitcoin currently lacks in investors, many withdrew from Bitcoin because of the many risks. #1 Wealthiest demographics wield the most powerful political influence.
#2 Wealthiest demographics generally do not want young, hungry, upstarts starting a business in their garage which turns out to be the next apple or google.
#3 Small businesses have the potential to upset the status quo and could dethrone giants in banking, finance and other sectors. This implies those living on the top of the mountain could make some effort to maintain their reign while preventing others from climbing up the mountain after them.
#4 To some extent its in the wealthiest demographics self interest to maintain thire status quo, which implies keeping things like bitcoin which have potential to overthrow banking cartels, in check.
is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz 
Government maintains monopoly of money supply which is routed through banks, to protect their interests tey will tend to harm their competition i.e crypto in this case by banning or claiming it to be a scam to laymen. For me, bitcoin is prohibited by the government because they can’t control bitcoin and it will be complicated to track how is the person behind that address or user. The main reason why some state bans bitcoin it's because of their jurisdiction, laws, and seeing bitcoin use by some criminals. But not of government sectors ban bitcoin, because some state considers the excellent effect of bitcoin on their economy. 
I would like to hear real claims to the side of crypto-currencies from the governments of states and what they see as a threat to the national security of their countries. It is not the first time that many members of the government have announced this.
For me, bitcoin is prohibited by the government because they can’t control bitcoin and it will be complicated to track how is the person behind that address or user. The main reason why some state bans bitcoin it's because of their jurisdiction, laws, and seeing bitcoin use by some criminals. But not of government sectors ban bitcoin, because some state considers the excellent effect of bitcoin on their economy.
I think that the biggest threat to the government is some type of a terrorist organization that ends up being funded by cryptocurrency. I think that is all it would take for the governments of the world to clamp down hard on the crypto markets.
Simply because the government sees the bitcoin a scam , fraud and a threat to a currenct fiat currency the country had. Government are somehow restricting the people to use cryptocurrency and just protecting its citizens. It really depends on the government if what it will take to have an approach on a growing crypto society.
The government of the country does not have any good idea about bitcoin, the government can not make the government better by making the country's economic development through bitcoin. Bitcoins are banned by the government of that country.Bitcoin is just prohibited by not seeing the benefit of the government, if the government is banned it is normal.
is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz
maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.
is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz
maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.
is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz
maybe they are just afraid with the presence of bitcoin can disrupt the local currency and the effect on the economy of the state,whereas parties of bitcoin already declared one-party bitcoin Indonesia that bitcoin is just a virtual currency and will not replace the currency of rupiah.
The reasons why government want to ban bitcoin is because bitcoin is a big threat to their economy, people may just earn profit without being taxed because the government will not be able to monitor the proper implementation of tax on individuals earning from bitcoin because of its decentralized property. And bitcoin can be possibly cover the economy of a one country since bitcoin price was higher than any currencies in the world. And furthermore bitcoin can be utilized as a part of unlawful exchanges, it can be used in illegal transactions like illegal gambling, drugs and illigal firearms.
I think this is because the government has no proper control over it. And also the citizens of the country will invest in it as the people who earlier use to invest into the banks. And Bitcoin also has a high fluctuations rate as compare to others.
Every goverment want to recive taxes from citizens that's why they are banning bitcoin. But sometimes goverment understand that bitcoin is not so bad and can help to economics.
It is obviously very bad for us.Very sorry but it is the truth that the governments of most of the countries have banned bitcoin,the digital is most popular cryptocurrency.I think the main reason can be for their own interest.We use bitcoin but don't give any tax for it.Again,we have our own bitcoin wallet where we save our bitcoins which is very secured. As a result,we dont need to go to the banks to save our so called paper money (cash) by giving a certain amount of tax.Again,the profit that we get from the banks for holding money for a certain time,is nothing before the profit we get by holding bitcoin.
Learning these advantages of bitcoin,fearing about their own interest, th governments banned bitcoin.
But it is true that the governments ban bitcoin thinking about the security too.Because,sometimes,we saw that many criminal offend had been occurred by using bitcoin.This could be another major reason indeed.
Learning these advantages of bitcoin,fearing about their own interest, th governments banned bitcoin.
But it is true that the governments ban bitcoin thinking about the security too.Because,sometimes,we saw that many criminal offend had been occurred by using bitcoin.This could be another major reason indeed.
I think as long as bitcoin is considered as a virtual currency, or as an investment wealth (whatever you choose) it will be fine. Because nowadays the positive impact on cryptocurrency is already felt by the community, no more statement "rich will be rich, poor will be poor", everything is decentralized.
is not that bitcoin able to change the state of its users which effects also on the state of the country's economy, why even banned hemzzz
Maybe the country is afraid that their economy might cripple because of bitcoin and the cryptos since we all know that digital currencies are decentralized. So whatever your transactions in the blockchain, there is no way that small percent of it will be going to the government as tax of what you earned.
I think it is because the government cannot control bitcoin so they give a statement to banned bitcoin but I see that there is a country that finally doesn't ban bitcoin although they don't give any statement about bitcoin. but if they can see that they have an opportunity to control or at least they can do something with bitcoin, then maybe they will not ban bitcoin and they will allow their people to still use bitcoin. but until now, I see we could still use bitcoin for many purposes.
Bitcoin is banned by the government simply because it's something they can't control, the system is totally decentralized and the system is used to defraud. The Bitcoin allows the trafficking of illegal things and government doesn't agree with this.
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