why bitcoin is banned by the government - page 25.

nikko14

jr. member

Activity: 47

Merit: 7

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

Some country banned bitcoin, it is because they can't collect the taxes and bitcoin is decentralized.And it is sometimes used for illegal transactions. And bitcoins can be treat of banks.

IvyAguas

jr. member

Activity: 69

Merit: 2

Government has no control on Bitcoin, because transaction using bitcoin is not easy to tract that is why the government cannot impose tax on bitcoin. Government is concern about taxation

_noname_

sr. member

Activity: 448

Merit: 250

Simply there are various due to which some or one government have ban bitcoin like china and i think government have ban bitcoin because bitcoin is decentralized and can't be control by any one and no government can put tax on bitcoin and can get taxes from users of bitcoin while also more investors are now coming here and investing in bitcoin due to which various trades on which taxes are receiving by government are losing their customers.

Deathgamer

member

Activity: 322

Merit: 10

The governmnet are afraid of bitcoin because it has no tax and they also say that it is being use criminals in there illegal transaction and they cant track it since bitcoin is anonymous and also the banks are afraid too since it is more profitable compare to them that is my many people withdraw there money and invest in bitcoin instead.

BTCsuccessor

newbie

Activity: 73

Merit: 0

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 about lack of knowledge about bitcoin on how to deal and what is the benefits on having this and I think there are many banks keep on giving bad news about bitcoin and the government are believing what they say.

Jeepney_koh

jr. member

Activity: 182

Merit: 2

dApps Development Automation Platform

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

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.

CherRic

member

Activity: 266

Merit: 12

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

Simply because government cannot control bitcoin and cannot generate income through it. Even the taxation system, governments cannot put tax on bitcoin because no one owns it. Also, because of its nature as cryptocurrency, people would prefer using coins or tokens in rewarding people for certain jobs or works. The fiat currency cannot be circulated online and fewer and fewer people are using their cash in online transactions.

jinxing

member

Activity: 276

Merit: 11

Digital money is not a currency. It often happens that digital money is used for crime and fraud. And the government is wary of this digital money, because of wrong uses as a money laundering or terrorist financing, even used for illicit trade. That's because the government forbids digital money. But not a few low society today Assisted with bitcoin

Flor1982

full member

Activity: 714

Merit: 100

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

The most common reason by these countries to not to adopt bitcoin is they are afraid that the digital currencies will might ruin their country that it might use in illegal activities like money laundering, smuggling, drugs and even scam investments. But for me, it can be prevented if it will just regulate it very carefully so that bitcoin can be given a chance to help their economy to grow and change their people lives towards prosperity.

Masongrae

member

Activity: 223

Merit: 10

The one reason why I know that the government might banned bitcoin, is crab mentality, its a Filipino term which means a person or people that dont like others who are rising up or progressived. They are trying to pull them down instead of being supportive in other's achivements.

nebuch

member

Activity: 588

Merit: 11

There are so many ways why they banned bitcoin on their country. The huge government officials meeting could be held and talk about bitcoin's effect to the future on their country and of course to the people desires and wants. This is a strong decision that form by the officials, business offices, and there investors.
The reasons why they banned btc coz they want to preserve there way of living, the way they do business transactions and maybe they preserve there culture as there own until death.

yrreg ger

sr. member

Activity: 448

Merit: 250

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 the fact that bitcoin can be use in illegal transaction, this is a good source of income so that criminal also use this as source of income. Additionally, the government did not get taxes in those people who earn money using bitcoin/crypto currency. In other word, it is not helpful to the government otherwise only in the people who earn.

naglas

full member

Activity: 233

Merit: 250

For example Joseph Stiglitz said on Bloomberg TV that cryptocurrencies like Bitcoin should be banned. His commentary is based on analysis saying that the market for Bitcoin is driven mostly by its potential to circumvent government agencies. And also the Bitcoin market will ‘go up, and then come down,’ leaving many investors injured, and therefore it should be banned, adding that it doesn’t serve any ‘socially useful function.’

Here's great web page where all news about countries banning BTC are listed http://bitcoinbans.com/

plenumetnormous

newbie

Activity: 18

Merit: 0

Governments usually develop a protectionist economic policy to preserve and protect their supporters. Actually bitcoin begins to change the game developing the roll of financial instituitions providing a much better gain against them. Still being the main supporters, banks, stock exchanges, etc they are not interested that bitcoin substitute them in this roll. But sooner or later bitcoin will be aclaimed by society and these traditional corporations will try to use it in its favor obsessing its control, a hard fact to be concretized due to BTC be decentralized.

josephpogi

full member

Activity: 434

Merit: 168

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 goverments banned this because they scared about bitcoin and cryptocurrency because bitcoin can replace banks soon or some goverments hate this because they said this is a pyramid scheme or a fraud things so we need to move on if all goverments will banned this.

nikenv2212

jr. member

Activity: 84

Merit: 3

It has a positive impact on the existence of bitcoin quite a lot, can grow individual income, reduce unemployment, increase state tax revenue, but considering not all countries have high integrity society, the government is worried that many people misuse the bitcoin with various forms of crime such as corruption, money laundering, terrorism financing, illegal drug transactions, etc. So it is not strange if some governments in various countries decide to ban bitcoin in his country

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: D3m1r4wanti on January 22, 2018, 08:26:07 PM

one of the reasons is that the government feels the loss because bitcoin is not taxed, therefore the government bans bitcoin in various countries

May be bitcoin is loading the earnings and income of the government so they don't want to rise up the bitcoin in any side so they trying to ban bitcoin quickly in all places but some countries in the world are trying to make bitcoin legalise to use in all places . That's why bitcoin will be spoke by all people in the world .

D3m1r4wanti

full member

Activity: 714

Merit: 102

one of the reasons is that the government feels the loss because bitcoin is not taxed, therefore the government bans bitcoin in various countries

thatlavl

newbie

Activity: 14

Merit: 0

Contrary to predictions that Bitcoin investors will panic as the government officially bans virtual currency trading, they remain optimistic about the future of the currency. Cheesy

sutyThuy

newbie

Activity: 14

Merit: 0

"This currency is preferred for anonymous and unmanaged payments of any organization or country, so the risk of money laundering," bleeding "of money, or the use of criminal acts WannaCry is a difficult thing to stop. " Huh

Topic: why bitcoin is banned by the government - page 25. (Read 2060 times)