why bitcoin is banned by the government - page 2.

pinggoki

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

In my opinion just simply because governmnet cannot control it so they had no choice but to forbid bitcoin. Besides, bitcoin is also have been used in illegal activities either online or offline such as drug transaction and even scamming, because of this evil deed bitcoin became ngative in peolpe's eye and become notorious. They didn't know what bitcoin can do hence, for us just keep sharing your positive experience upon this cryptoworld.

endut15

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

indeed the bitcoin is changing our lives, because with the bitcoin it is very helpful to all of us. but many people are also prohibiting the bitcoin was outstanding. because many people are not familiar with bitcoin and negative thinking first.

JPablo

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

I think its not about they banned bitcoin but they are not agree that bitcoin will be part of government because of its price that anytime the value will increase and theres a moment that it decrease which not consistent.

Wipeout2097

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Bitcoin is an independent and autonomous it doesn't need of third party,Government can ban it but cant stop the Bitcoin. Government want to generate revenue from different sources and Bitcoin cant controlled buy the government and government have threat that Bitcoin will encourage the illegal financial activities.

kolbalish

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Government is all for a country as a leader.Government can strict or force anyone to maintain his or her rules for country.Many government hate Bitcoin.May be they think that the economic slowdown will be happened for Bitcoin and the money will reserve in this.Many crime will happen.I think those are enough to understand this.That's why many government banned Bitcoin probably.

g-unit

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Bitcoin is banned by the government because of desire to control financial flows. Cryptocurrency transactions are safe and anonymous and can be used for illegal purposes. Governments can't allow this. That's why they make different legislative procedures to be able to control cryptocurrencies.

Chrisjay29

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Bitcoin banned by government. It because they heard lot of scam in bitcoin. Scam make the bitcoin reputation lose they dont think that if bitcoin will gone because no body tust there source of income will gone. Thats why we should take care of bitcoin before it too late. And also goverment didnt understand how bitcoin work.

beezare

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the government forbids bitcoin because they fear bitcoin will be used for crime and bitcoin can make its users lose money and they can not do anything and can not control bitcoin

kimochidesh

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

There are many reasons responsible for the ban of cryptocurrencies. First being, the anonymous nature of cryptocurrencies enables it to be used for illegal purposes like purchase and sale of prohibited weapons or drugs and terrorism and money laundering activities. Bitcoins are self-governed and decentralized. This will make monitoring by government impossible which puts a great threat to the government authorities.

Mbah Djoko

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This is a natural thing because many governments think bitcoin is anonymous so the government is worried about bitcoin being used as a place for illegal transactions and money laundering.

hoanghoatham04

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Quote from: Hydrogen on January 21, 2018, 06:34:13 PM

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.

All of your ideas are correct, but I will add a few more. It is possible that the government can not manage Bitcoin and that they can not collect taxes on every Bitcoin transaction. And another factor is that they are afraid of many corrupt people taking Bitcoin money laundering

themughni

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

there is several reasons, The goverment ban bitcoin. the bitcoin is safe and anonymous, the transactions cannt be tracked.your identify is safe, and maybe The government doubt if bitcoin is money laundry or corruptor use bitcoin for saving their money.

Tapyaks72

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Quote from: Kodok Bencot on April 18, 2018, 10:30:39 AM

The number of false news about bitcoin certainly makes many governments worried about bitcoin, let alone the amount of pressure and fear then the easy way is banned so that the development of bitcoin slows down.

The major cause why government is against bitcoin is the tax collection, if bitcoin circulating in your country and then you cannot collect because it is anonymous and still no law that will determine how taxes be collected

Kodok Bencot

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The number of false news about bitcoin certainly makes many governments worried about bitcoin, let alone the amount of pressure and fear then the easy way is banned so that the development of bitcoin slows down.

ov3rflow9x

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The most governments are reluctant to accept bitcoins. China alarmed at the way of digital cryptocurrency can evade government oversight, it has taken the hardest line.

Farma

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Quote from: webdevmastery on April 17, 2018, 12:40:13 PM

Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

Bitcoin is affecting the economy of the country and if government think that it will be bad for their own economy then they have no choice but to shutdown cryptocurrency in order for their country to survive.

perhaps the regulations they develop are against their value. besides, there may be internal factors that make bitcoin getting banned. actually bitcoin can be very beneficial to a society if the government also supports it.

webdevmastery

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

Bitcoin is affecting the economy of the country and if government think that it will be bad for their own economy then they have no choice but to shutdown cryptocurrency in order for their country to survive.

ngacengan

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Quote from: stevano on January 21, 2018, 11:51:19 AM

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 Grin

I think there are many factors that make bitcoin circulation much banned by some governments of some countries, most likely the government is afraid if bitcoin is used for terrorist financing transactions and so on.

btcprospecter

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Governments that want to ban crypto do so to protect their own interests. Imo this also comes with a lack of understanding about crypto currencies and the benefits that they have to offer.
In the grand scheme of things bitcoin and all crypto currencies are still in their infancy and time will tell how it stands.

Sab11

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In my own opinion i think if one government banned cryptocurrency in there country, for sure they see alot of negative result in using cryptocurrency in there coutry, but they didn't see the positive result of bitcoin in one country, bitcoin can reduce unemployment, reduce poverty/hunger and helps to emprove the economy, for sure when one government realize that bitcoin can give a lot of benefits in there country for sure they will accept again bitcoin as there currency.

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