why bitcoin is banned by the government - page 24.

micloop

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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 government can't stand against Bitcoin because it is a lost battle, users will keep using no matters how they ban it. Banned exchanges? Good! We transfer p2p or others ways. Is it criminal now? Good! No ones can determinate if you have or not a bitcoin. So, everything that government doesn't control, they're afraid off.

Condoriano

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It is not totally banned and government is not totally supporting it as well. Government has nothing to do when it comes to bitcoin since it was created by a different party. Bitcoin can also potentially used for corruption or illegal activity since transactions can't be easily track. Government is not a company so I doubt that they will take the risk when it comes to crypto.

Alpinat

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I can say that this matter is a simple problem but it has many forms and reason one of it is because they cannot put TAXES in so many bitcoin users in the world and also one of the most reason is that they cannot accept the fact that they can't manipulate the price of it.

Crypto Vitriol

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Because bitcoin is something out of banks and governments control, and obviously they don't want to lose their power.

Choyor

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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

Each country has its own economic rules and regulations and each country has a different point of view on Bitcoin. As for countries that forbid Bitcoin there is a possibility that they assume that Bitcoin is incompatible with the rules and regulations of the country and considers that Bitcoin could interfere with their economic system that they have packed in such a way.

KnightinPink

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

hajimasan

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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

It is a bitter truth in the Bitcoin's life where at one side we are getting lots of success to make money and also we are improving the nation with the paying taxes to use the bitcoin but in actual many government authorities are looking towards the negative factors of the bitcoin and another cryptourrency , they are saying that the flow of money is unlimited from one country to another without any pay of tax , but they are not thinking that the money flow is also incoming which is giving profit to the Economy of the country .
Well here we can support bitcoin at every petition and also can explain every people in our community about the bitcoin positive factors, so that in case of any action against the bitcoin make the people to support the bitcoin use and also here we can see that we are growing much faster economically with the use of the bitcoin and also we are connecting to ourselves to the international market easily with the bitcoin payment .

Freshmen

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Quote from: max2306 on January 22, 2018, 01:43:41 AM

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 ..

Some government believes that it is too bad, and is not good to be allowed in any country, and one of the reasons being that Bitcoin users does not pay their tax, and uses Bitcoin as a way to avoid paying tax. In some countries it may seem to them like a rip off from their economy, when they feel like they are losing. There can be various reasons why a government will choose to ban Bitcoin.

BaraxLo

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Quote from: payyy on January 22, 2018, 02:24:51 AM

It is simple as 2+2. They do not want bitcoin to overtake their entire power scheme in there, why do you think that there are lot of countries doing so? because they are afraid of that their entire corruption chain could end because of this, of course.

Actually bitcoins are completely decentralized and it makes them go more opposite then the government. Government will always support their centralized currencies as they are comfortable to use for them and also the government of each appropriate nation can apply taxes on the centralized currencies.

It is really hard for the government to accept bitcoins completely and that makes the future of bitcoins go more dark and describable. Hope soon something good happens with bitcoins and bitcoins can again start giving us good profits legally with banning of all illegal activities carried out by the government.

G2z_Riya

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Bitcoin is a part of the innovation and the success is not able to sustain due to several peer pressure that has been getting rise around. Particularly governments fear that bitcoin and other virtual currencies will lead to downfall in the economy. This is the reason for such a ban getting initiated on different countries.

vv181

legendary

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Government always hate anything about anonymity and privacy, they see a real threat from cryptocurrencies, so they regulate it to prevent tax evasion and money laundering. Well, its bad but its just how the way its work. The government sees a decentralized system is a threat so they regulate it and make it at least 'centralized'.

maximk98

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Both blockchain and bitcoin have been invented to get rid of any control. Bitcoin is an anonimous payment network that does not offer even a possibility for some regulation by officials. Thereby it undermines government's influence and power.

barbara44

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Quote from: genesis53 on January 22, 2018, 03:04:37 AM

Bitcoin banned by the government because the decentralized nature of the cryptocurrency makes it hard to control by the government. Some of the concerns also are they will hard a time to control the criminal activities and tax evasions. They believe that the unregulated markets could also pose major financial risks to the economy

All of the points that you mentioned are approximately correct but due to the nature of bitcoins being decentralized it makes them hard to adapt the qualities and also it is truly being used in various illegal activities like criminal activities and tax evasion.

The only solution for it is that the government should soon legalize bitcoins which will make them more effective and efficient to earn and to store our money. Bitcoins will soon be legalized i guess and the day they are legalized will be the biggest day for bitcoins to make a huge success ahead

pinoypersian

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bitcoin was banned by OTHER government cause they dont know what bitcoin really is. they dont know that bitcoin can help their economies and many ways. it can reduce the numbers of unemployed citizen. like here in the Philippines. im so glad that bitcoin are legal here. no worries we can do bitcoin anywhere.

W4terhouse

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Quote from: Jeepney_koh on January 23, 2018, 12:00:31 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

Governments banned bitcoin for many simple reasons.
1. They cannot control bitcoin.
2. They cannot put tax and get tax into bitcoin.
3. Their banks are lossing money because of the investors in bitcoin.
4. Bitcoin is decentralized, owns by no one.

I think you´re right. It is the mix between the Control and Money that they won´t get from the transfers. For reason they will tell it is because of terrorism and crime, also money laundry, but in fact i think it is for the control they don´t have and the money they can´t tax.

guoyu78

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Quote from: Siopao on January 22, 2018, 04:29:28 AM

Countries who ban bitcoin are threatened bybthe existence of it. They are threatened that it can have a negative impact on their economic status that people would use it more than their currency. In effect it can minimize the people who use bank in their transaction. And the exchanges of their currency won't be that booming.

Actually yes, some governments have that kind of feeling and i guess it is correct by the side of them as bitcoins are a major reason behind money laundering and also it gives some major drawbacks.

Actually in my region perhaps the government is too trying to ban bitcoins as bitcoins are being a major way behind the money exchange globally without any legal papers. It actually draws the money from one nation to the another which indeed makes the economy of the country go more deeper inside. It is not that good thing and i think legalizing bitcoins will be the best action for it.

StarofBTC

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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

Actually the government did not ban bitcoins intentionally but due to some of the major disadvantages of bitcoins it is been kept banned which is not at all good for us. Actually there are a number of ways which keeps bitcoins as banned and some of the major reasons for it might be the use of bitcoins in illegal activities which are been carried on deep web like buying/selling of drugs/weapons/etc.

It should be treated as a major drawback about bitcoins and should be stopped as soon as possible. Stopping it will surely lead us to have a better future with bitcoins.

Rufsilf

sr. member

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Bitcoin is banned by the government because they think that bitcoin will not bring any good thing to their country and because of that it creates a lot of FUD to the cryptocurrency community and that is why other government banned bitcoin also. I hope that the fear of the government will disappear so there will be no banning.

di.ako.toh

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In my opinion, some countries banned bitcoin by their government because their government are not yet well informed on how crpytocurrency works in the society. Also, maybe they are worried about its security in the part of the users, and its time i think for them to learn and have the awareness regarding this matter.

won99

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The state ban bitcoin because some reason and they have opinion to ban bitcoin. Sometimes, their wisdom give our many profits and we must always respect them because we are good people

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