why bitcoin is banned by the government - page 28.

Will.Smith

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"Revolutionising Marketing and Loyalty"

Quote from: player514 on January 21, 2018, 08:46:52 PM

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

Think of it from the point of view of government officials. Bitcoin is scary because it's anonymous. They don't know what the bitcoin users are paying for. This means that if they legalize it in their country, it's possible that they've legalized a currency that can be used for drug trades, terrorism, weapons, etc.

This is dangerous because the government is not supposed to scare the citizens. Besides those reasons, I don't think there's a strong enough reason to ban bitcoin.

They ban also because they want to protect citizens from the most risky assets comparing to the regulated stocks market. Most government is not even understand the technology behind bitcoin good enough to regulate and they ban what they can't control.

player514

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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

Think of it from the point of view of government officials. Bitcoin is scary because it's anonymous. They don't know what the bitcoin users are paying for. This means that if they legalize it in their country, it's possible that they've legalized a currency that can be used for drug trades, terrorism, weapons, etc.

This is dangerous because the government is not supposed to scare the citizens. Besides those reasons, I don't think there's a strong enough reason to ban bitcoin.

batang_bitcoin

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Bankers are afraid that bitcoin will take over the whole investment platform that their investors are availing to them. And to take an action they are complaining to the government and as a body that maintains the balance to their entire economy they won't allow something that they can't control to catch the revenue that they are getting. So while it's early, they are taking short notice and also resulting to ban bitcoin if they can see it as a threat to the economy, and another reason is it's used by terrorist or money launderers though its another story.

Quote from: Hydrogen on January 21, 2018, 06:34:13 PM

#1 Wealthiest demographics wield the most powerful political influence.

Yeah more of this.

socks435

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Privacy is always important

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 ..
Honestly here in my country bitcoin is legal and we are using bitcoin here normally but only few stores are accepting bitcoin,. ,
To other country they are ban it because they don't want hackers to use bitcoin and withdraw into money because they can't track the bitcoin there are tools that you can mixing your bitcoin and you are safe..

faceoff97

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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

Bitcoin may be a threat for a country, government has no full control over it and the only way they could do is to regulate it. Bitcoin might be use for illegal transaction, through this people may do anything they want anonymously with intervention of anyone even the Government. Bitcoin has decentralized feature and government has nothing to do with it.

sister1001

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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

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.

Hydrogen

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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.

stevano

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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

Topic: why bitcoin is banned by the government - page 28. (Read 2060 times)