- It's crypto, so it's intangible and untraceable.
- It's decentralized, so the government have no control at all.
- It's powerful, but yet same as the risk in it. The government is trying to "save" their people from losing the game or misusing it (such as losing from trading, use as the moneylaundry, etc)
Topic: why bitcoin is banned by the government - page 26. (Read 2060 times)
In the first place Bitcoin itself is decentralized while the government in each nations are centralized based system. So no wonder, why some of the government banned it. Because, they are not capable to control bitcoin neither the users of it too. That's why bitcoin don't have any form of tax deduction.
Governments that want to ban bitcoin are afraid of it, because it could harm country economy and because bitcoin is decentralized. Most of governments do not like bitcoin because bitcoin is decentralized, which mean it belongs to no one and they do not have power over it. But i also agree that bitcoin could help the world, and that it would be stupid to ban bitcoin. Rather than ban, countries should regulate bitcoin. That would benefit country and users, if done properly.
Government are afraid of the capabilities of crypto currencies since it is decentralized making illegal transactions is very easy to do without any traceable evidence left and as we all know corruption is a big issue of a lot of countries and I'm sure those corrupt official saw the potential of bitcoin as a good tool to hide their activities which is the reason why government want to banned bitcoin.
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 
Some countries only protect their land which is the main purpose of implementing rules over cryptocurrency. Knowing that bitcoin can be used as a means to finance crimes like drugs, so in order to prevent this threat, rules must be implemented and one of the measure to be taken is a total ban on cryptocurrency in their country.
Bitcoin is not actually banned because if it really so surely we can't use our bitcoin such as converting them into fiat and use them in some establishment. What government has on bitcoin so far is the restrictions of its use as we can see we need to convert it first before it can become useful in the market it is only the support of government so that bitcoin will become part of the economy is only the issue and since it is decentralized government find it hard to regulate bitcoin which is the reason why they don't like the idea of using it as a normal currency
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
Because bitcoin is not taxed, and the government does not control it, maybe
This is easy, you just need to understand that they are never going to allow bitcoin or cryptos in there, because they would be allowing their citizens to do whatever they want to.
That is why those who are always regulating bitcoin are always the most important countries, like US and China.
That is why those who are always regulating bitcoin are always the most important countries, like US and China.
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
Government always try to seek the control of the financial life of its citizens. Bitcoin and blockchain is something that is based on the core ideology of decentralisation which allows everyone to manage their own assets and it discards the need of third parties to maintain our assets and even the government. Thus considering this as a threat to their power, the governments will try to reduce or control the Bitcoin transactions within the county but it cannot ban it completely.
Lots of governments are against bitcoin because it's decentralised in nature. Bitcoin is not controlled by any government, they have little or no control at all, they are afraid that it could be used for illegal purposes i.e funding of terrorism and drugs and also stolen funds can be stored up in bitcoin.
Because no higher position in the country are capable or cannot controlled the rising bitcoin. They are worried because of the circulation of money in such place. Bitcoin set as a threat for some country ambassadors.
yes they are worry about how bitcoin could make their own money get replaced easily with bitcoin .no wonder they are so busy looking for the solution to stop or maybe just control bitcoin usage. at some places government support it because the benefit of inflation free , we can see there is a country who announces bitcoin as their official currency mostly it is at africa.
Because no higher position in the country are capable or cannot controlled the rising bitcoin. They are worried because of the circulation of money in such place. Bitcoin set as a threat for some country ambassadors.
Guy`s we just follow what they say, "but" does not mean we have to OFF from bitcointalk Forum.
I think the ban will only apply to its adoption "owner" while we are only "Anonym" users. Why is that? ..., since we are accustomed to receiving bitcoin is by free way (from sign & camp) instead of buying, besides what we get from ATM is not Bitcoin but money (although initially bitcoin), I think keep your worries.
If the action is right done by our government "there may be continuous info on both TV and Media Online".
We follow the developments.
"Once again I personally do not worry about it, because we are not adopters!".
I think the ban will only apply to its adoption "owner" while we are only "Anonym" users. Why is that? ..., since we are accustomed to receiving bitcoin is by free way (from sign & camp) instead of buying, besides what we get from ATM is not Bitcoin but money (although initially bitcoin), I think keep your worries.
If the action is right done by our government "there may be continuous info on both TV and Media Online".
We follow the developments.
"Once again I personally do not worry about it, because we are not adopters!".
Government in many countries of the world never want poor people in the country to get rich like them. Since they have no control power over bitcoin and other cryptocurrency, all their desire is to put a ban on it. Cryptocurrency have brought employment to many people in many countries in the world and this is the area government for a very long time can not tackle.
Fear. Some countries ban Bitcoin because of its ability to take away economic power from what they've established.
Since Bitcoin is decentralized, it can interrupt the current business models of banks, medical industries, and other fields. If this was to happen to a country, they would see a large reduction in their GDP.
And there's the fear that Bitcoin could be used to fund illegal activity. Such activities could reduce the value of the economy and cause for more crime to happen. So their reasoning on banning Bitcoin is smart, but they should find a way to implement it in their country without these certain issues popping up.
Since Bitcoin is decentralized, it can interrupt the current business models of banks, medical industries, and other fields. If this was to happen to a country, they would see a large reduction in their GDP.
And there's the fear that Bitcoin could be used to fund illegal activity. Such activities could reduce the value of the economy and cause for more crime to happen. So their reasoning on banning Bitcoin is smart, but they should find a way to implement it in their country without these certain issues popping up.
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.
Some of the reason for bitcoin bitcoin is banned by goverment is,they are fearing bitcoin will replace their own currency.And also bitcoin is the reason for the economy changes.Many unemployed people are earning some money with the help of bitcoin.Bitcoin will rule currency world.
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
. Bitcoin has the potential to continue to rise and benefit those who have it and without taxes. Maybe the government is afraid people prefer bitcoin and leave local money.
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.
This is all true but I will add the very nature of bitcoin is seen as a problem, the establishment did not have any problem with google or apple, but they have a problem with bitcoin because it is a currency, in the past and even now local currencies have been used to keep the money inside a community, but bitcoin has created a global community, one which does not need the system of banks at all and that cannot be killed since it is decentralized, that is their main issue.#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.
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.
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
Something that's out of the control of the government scares them and the only thing that they can do is regulate or create a ban. Although bitcoin does not exactly equate to criminal activities or tax evasions, perhaps the government is wary of money laundering through the use of bitcoin. Along with that, government's have been warning it's citizens of the risk of losing your money by investing in bitcoin. Perhaps to avoid this, some have decided to create a ban instead.
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