why bitcoin is banned by the government - page 22.

ashlyvash00

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Activity: 434

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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 think other government didnt open minded on bitcoin.they always thinking where is bitcoin from , how did bitcoin grow and how bitcoin profitable.Thats why they think its a scam in our country there also say that bitcoin is scam even in a televesion.But they know the truth maybe because its hard to understand bitcoin if you didnt read this forum or read some article and a help of friend to understand bitcoin

Cryptodux

newbie

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Bitcoin is something that at the the beginning government didn't understand, and now - as they can't control it - they try to ban.
But I don't think they have a chance to succeed.

vuvuvu1

newbie

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Where it is not specified Bitcoin is money or goods and it is not specified Bitcoin is a means of payment is prohibited, the payment through Bitcoin completely outside the authority of the State Bank.

davinchi

legendary

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Quote from: KnightinPink on January 23, 2018, 05:45:52 AM

I think but im not sure about this but i think its because they cany put taxes in btc

I’ve asked myself same question before, and when I couldn’t figure out an answer to it, I decided to research on Google to really understand why. First I searched on why China banned Bitcoin, and according to the source, it had to do with their market, but I didn’t understand it much. So I’m guessing for other countries, it also has to do with same thing.

sulendra12

hero member

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Undeads.com - P2E Runner Game

Bitcoin is a digital currency and most of countries are banning digital currency cuz it would be a rival for physical currency and need to ban. Also with the unstable price of Bitcoin, government want to protect their people to not invest on them. It's win to win actually but still smart people are there and they can't lose that money easily.

ghost424

full member

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There may be some governments that is banning bitcoin but maybe because it is the fact that they are not yet knowledgeable how Cryptocurrency works and how would it help their own economy and how would jobless persons inside their country can still gain money to provide for their family. They might be also scared of the fact that they might get overthrown once the owner of bitcoin becomes uncontrollable.

millionaireshs

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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 think there are two major reasons why the government want to banned bitcoin, this can be:
They are just concern to their countrymen because of the possible risk of Bitcoin; or
Because it has no tax.
Base on my observation, even though a certain thing brings risks as long as it has tax it was justifiable.
Example: cigarette

jeni99

member

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think BTC is a digital currency that has no authoritarian or agency that makes it unaccountable and will also affect the economy of a country.

sizzle729

jr. member

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Merit: 1

I think, the reason why the government banned bitcoins is because they simply cannot take control over it. Even imposing taxes and laws covering bitcoins is somewhat impossible to achieve beacause of the complexity and anonimity of the users and investors . And also, it is being targeted and used by unscrupulous individual laundering money and using it in crime tactics.

Ngehek

newbie

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Because the government is afraid that Indonesian entrepreneurs prefer bitcoin to invest their money, thus reducing the rupiah exchange rate against foreign currency

mason2002

newbie

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I think for some other country they are banned it because of the anonymity and decentralized use of bitcoin no owner so if someone having issue in bitcoin no one could report into the police to investigate ..

Leeeeeya

newbie

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It is all because they think that bitcoin will not be in their control and they can't handle it being a threat so the best thing they can do is it being banned.

swordling143

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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 think the government sees bitcoin as a threat to the economy and also the fact that bitcoin has no tax yet affects how the government earns or benefits from bitcoin. Besides, not all countries are discouraging the use of bitcoin, there are still other countries that are fond of bitcoin their people's use of bitcoin because of ease in life.

MattMurdockxDD

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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

Probably they are in fear of money laundering. Since most of the countries has no regulations yet when it comes to crypto currency, then the opportunity for the black market people to use this is high. Well it happened before in some countries already so the chances of it happening again would be huge. Well this is just my opinion though.

yusupjatigumilar

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Because governments in some countries think bitcoin can be used as a medium to commit unlawful acts, such as money laundering, terrorist financing, drug purchases, etc. and may also be supported by anonymous bitcoin properties so the government can not monitor where and where the bitcoin is flowing

AmazingDynamo

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Quote from: Dewao on January 24, 2018, 02:07:50 AM

Quote from: fiomcorka on January 24, 2018, 01:28:42 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

Their are so many reasons like this first one Bitcoin is decentralized currency, which means nobody controls it. In so many countries has that fear. Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin. people use Bitcoin for money laundering. They convert their black money into white .

Everything you said is right, bitcoin is decentralized so nobody control it ,that's why no one can complaint to any one if they lost their money everytime they invest in bitcoin.

since no one can control it they are trying to regulate bitcoin because it can lead to some sort of illegal activity which it can be a medium of transferring illegal money without no trace and they also bitcoin does not pay taxes .

chrisculanag

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Why , because bitcoin is tax free and the government need a tax to improve their territory .All countries depend on people's taxes, so the country is opposed to the use of bitcoins. There are so many wealthy people hiding their wealth by bitcoin, to avoid taxes for the country. This is one reason why many countries do not want bitcoin.

FairWin.Tech

newbie

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As some of you have rightly said, Bitcoin can not be controlled which means corrupt politicians can`t keep the people who work on it down. Maybe the stupid functionaries do not understand what it is and try to destroy it out of envy.

Dewao

full member

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Qravity is a decentralized content production and

Quote from: fiomcorka on January 24, 2018, 01:28:42 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

Their are so many reasons like this first one Bitcoin is decentralized currency, which means nobody controls it. In so many countries has that fear. Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin. people use Bitcoin for money laundering. They convert their black money into white .

Everything you said is right, bitcoin is decentralized so nobody control it ,that's why no one can complaint to any one if they lost their money everytime they invest in bitcoin.

fiomcorka

sr. member

Activity: 496

Merit: 254

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

Their are so many reasons like this first one Bitcoin is decentralized currency, which means nobody controls it. In so many countries has that fear. Second one many illegal actives held under Bitcoin. Third one people save their taxes due to investing in Bitcoin. people use Bitcoin for money laundering. They convert their black money into white .

Topic: why bitcoin is banned by the government - page 22. (Read 2070 times)