why bitcoin is banned by the government - page 21.

pocketfullofpoke

full member

Activity: 476

Merit: 101

www.daxico.com

Quote from: stevano on January 21, 2018, 10:51:19 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

That's because bitcoin is a threat to their economy as well as people who are engaged in cryptocurrencies can earn profit without being taxed by the government. Government wants money from people and so they banned cryptos for their own good in my own understanding.

dulce dd121990

full member

Activity: 294

Merit: 100

The one reason is that bitcoin can be used in illegal transactions. This bitcoin currency will be used in trading illegal drugs, firearms and others. This can be used also in illegal gambling.

Nanot

member

Activity: 266

Merit: 10

Quote from: stevano on January 21, 2018, 10:51:19 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

Since bitcoin is a one big controvercial thing in the world they are many things that involves on it even it is a good and bad news of it. The reason on that why government has banned bitcoin because it affects the workd economical states mostly a country economy. Bitcoin has banned because it can be possibly cover the economy of a one country since bitcoin price was higher than any currencies in the world so that it affects the small countries that have a low price of currency so that it might cover it that thier money can lose more to have a one bitcoin

Lily04

newbie

Activity: 82

Merit: 0

Government can not ban Bitcoin,because it's not under their control. So they are angry and threatening to ban Bitcoin but that can never be possible.

Cryptophorus Columbus

newbie

Activity: 154

Merit: 0

Quote from: edi-mf on January 25, 2018, 07:00:52 AM

It's not banned, why we keep spreading this nonsense?

Yes, in some country is. Ecuador, for example. And in some country will be "banned" soon. In USA - freedom land... - you can't participate to ICO.
And so on- Check, and you will see,

Nana_Marini

full member

Activity: 392

Merit: 103

Every state has the wisdom for the people and the people must respect and follow the rule in the government. I believe that the government give the best way for the people

Cryptophorus Columbus

newbie

Activity: 154

Merit: 0

Of course governments and banks didn't understand too much about bitcoin and didn't realize its potential, and now they start to react.
Actually, they can really ban bitcoin, they only can try to make their use more difficult.
But it will be an useless war.

edi-mf

newbie

Activity: 45

Merit: 0

It's not banned, why we keep spreading this nonsense?

jovs

sr. member

Activity: 672

Merit: 250

Quote from: sister1001 on January 21, 2018, 06:21:06 PM

Quote from: stevano on January 21, 2018, 10:51:19 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

They may want to ban it, but it is nearly impossible to carry on effective measures to implement that decision. In essence, they just don´t like people with too much economic freedom.

Perhaps, Government that wants to ban bitcoin operation in their country because of its decentralized property, they will not able to monitor the proper implementation of tax on individuals earning from bitcoin. But correction and regulation on bitcoin is possible, depending on how the government will put necessary studies on how to implement taxation on bitcoin' s earner. If they only look at the brighter side of bitcoin in the economy. perhaps they will try to regulate it instead of banning it.

biskitop

full member

Activity: 686

Merit: 104

because there have been cases of illegal weapons purchases using bitcoin, drugs transactions using bitcoin, and prone to money laundering. those things that might make the government a bit worried and eventually want to ban bitcoin.

gribble

hero member

Activity: 966

Merit: 552

I think bitcoin is banned by the government due to they can not be regulation of bitcoin, it is decentralize of bitcoin that makes it special in the heart of community, and the government just think about the bad things of bitcoin, they don't think about the technology of blockchain and any other related it, just some government of countries that can see the big chance of bitcoin and all of about digital coins.

Pjoh ie

member

Activity: 168

Merit: 12

Virtual money that is popular in some countries, Bitcoin, considered to have a high risk. Bank Indonesia (BI) has also banned the use of Bitcoin as a legal means of payment in Indonesia. Not explained in detail why Bitcoin is prohibited to be a means of payment in Indonesia. However, the central bank cautioned because the use of virtual money like Bitcoin is very risky and BI is not responsible. In some countries like the United States, the use of Bitcoin as a means of payment to buy goods or services is allowed or legal. But later some other countries such as China, prohibit the use of Bitcoin.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

They banned bitcoin because they are afraid of decentralization because they think that the people will just be in favor of the decentralization and use bitcoin because of the freedom that bitcoin offers to the people who uses it while the government are still boxing the people because of the centralized currency that is backed by nothing.

Leeeeeya

newbie

Activity: 62

Merit: 0

Bitcoin is becoming popular and many people are interested on it and some of those are now using it and that it, the growing family of bitcoin will not be handled by the government and will never so they are just going to ban it.

Scavagers

full member

Activity: 364

Merit: 100

Quote from: stevano on January 21, 2018, 10:51:19 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 have an idea but I am not sure if these are the primary reasons. We know that bitcoin is easy to use in transaction,bitcoin is anonymous, you do not even have to reveal your personal info to do such transactions and it can be used in illegal activities like selling drugs and other illegal transactions. another reason i have in mind is it is decentralized, meaning the government has no control to it so they banned it because they see it as a threat, also if am correct, bitcoin is not taxable so government dont benefit from it.

sheryl26

full member

Activity: 322

Merit: 100

Quote from: stevano on January 21, 2018, 10:51:19 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 do not know the exact reason but in my opinion the government are banning it because they are not gaining on it because bitcoins have no taxes just fees and those are the money they are not gonna handle. And they cannot trace the transaction so the illegal things are being committed easily. And i think bitcoins and all the other cryptocurrency are banned in china last year because of a lots of complaints about the scam and the people cannot trace the middle man of bitcoins because there is no one source bitcoins are independent.

Senkuli

full member

Activity: 304

Merit: 100

www.daxico.com

bitcoin is growing very fast and has been popular in many parts of the world, many people are interested in investing in it, but there are still many investors who are constrained by the rules of prohibiting the use of bitcoin by some state governments.
in my opinion, although bitcoin is very popular right now, there are still many communities or some state governments that have not understood all about bitcoin, they have not set a standard rule about the use of bitcoin that has decentralized system, and they are still worried about the bitcoin investment system and its security aspect for the people of their country who want to invest and use it.
the governments of the country still need time to deepen and learn all the bitcoin investment systems and that causes some governments to ban the use of bitcoins or other crypto currencies until they have set the standard rules on the use of bitcoins and their investments.

fara_buduk

full member

Activity: 616

Merit: 100

gik nyareh proyek seteppak pas sepak

Quote from: yohaneshs on January 25, 2018, 03:37:13 AM

Quote from: stevano on January 21, 2018, 10:51:19 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

We know every country has a currency with the central bank as a centralized. they can control the price, volumes, supply and demand. but bitcoin and crypto currency is decentralized so nobody can control the price and volume supply. at the point, the risk is too high for economic because government can't monitoring crypto currency and the user.

Can really say that bitcoin is a crypto currency whose position can not be influenced by state circumstances because its scope is more universal and liberal in currency value so many countries are afraid of the currency of the country affected and there is a crisis of exchange.

nastaverba

jr. member

Activity: 112

Merit: 2

Because it is more difficult to control the population through cryptocurrencies like Bitcoin Lips sealed

yohaneshs

member

Activity: 406

Merit: 11

Quote from: stevano on January 21, 2018, 10:51:19 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

We know every country has a currency with the central bank as a centralized. they can control the price, volumes, supply and demand. but bitcoin and crypto currency is decentralized so nobody can control the price and volume supply. at the point, the risk is too high for economic because government can't monitoring crypto currency and the user.

Topic: why bitcoin is banned by the government - page 21. (Read 2070 times)