why bitcoin is banned by the government - page 3.

agentx44

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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

In my own point of view, the reason why the government banmed bitcoin because they cannot control bitcoin and cryptocurrencies, some people think bitcoin is just a way to trick people to invest their money in cryptocurrency and in bitcoin which it is not true, but there are sites that you really be careful log in. and they think bitcoin and crypto can replace the current currency.

Armstand

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Quote from: beezunus on April 17, 2018, 08:59:35 AM

every country has its own policy on bitcoin and they ban bitcoin because they can not control the use of bitcoin and they are afraid bitcoin will be used for crime and fluctuating prices will make the users could lose money

It will just a matter of time that those who bans it will soon to implement it again , they will just make study of it now how they can use it for governments advantage, if they see how other countries implement and put impact to the people they'll sure approve it again.

laravuemaster

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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

Not every country is being affected positively because the economy of their country cannot handle the growth of cryptocurrency and most of the people are preferring to invest on bitcoins more than placing their money on banks and government has a big problem in that kind of situation because they cannot get their funds.

ohkkstaaahp

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“The Premier Digital Asset Management Ecosystem”

Governments in some countries say BTC is a coin for criminals, anonymous BTC to easily fund criminals. is a haven for money laundering criminals. Terrorism. But I do not think so. BTC has many benefits. Some large countries have high qualifications that they have accepted BTC as their currency.

beezunus

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every country has its own policy on bitcoin and they ban bitcoin because they can not control the use of bitcoin and they are afraid bitcoin will be used for crime and fluctuating prices will make the users could lose money

genocide

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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

Maybe because it is highly encrypted and highly confidential with regards to identity that whatever happens, there is no other way or reason to investigate since there is no information to use for during investigation. Secondly, it is not yet legalize in some other countries because it takes so much time, money and effort before it happens and there are so many things to consider with.

brainryan

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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

Well, I think the specialty of bitcoin is decentralization. This feature conflicts with government and banking organizations on how to operate and manage. In addition, the characteristics of peer-to-peer transactions, which are not through organizations or management tools, bring about world-wide risks and security and political issues. Bitcoin can be abused by corporations or corporations for the purpose of tax evasion and crime.

esa2782

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because some governments see that if bitcoin become legal it will be hard to control and it has a huge chance to be used in the wrong direction and wrong activities, such as crimes, drugs, money laundering and worst of all is terrorism, the other reason is a natural competition, it will jeopardised the system of economy, at least in currency issue, there will be open competition between paper money and bitcoin, or to put simple each country will have to legal currency and in the end of the day, natural selection will take part and probably the paper money will die out or badly inflate and that is really not good for economy, that is some of the reasons i think why many governments still ban bitcoin.

MFahad

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Quote from: JerryJam on April 17, 2018, 06:09:37 AM

The government is not profitable bitcoin and the people who use it. The government is afraid of losing control over people. Afraid that people will gain financial independence. After all, not everyone uses cryptocurrency for peaceful purposes. The fight against corruption and organized crime should be its main objective.

Exactly, bitcoin is not profitable for government even it is harmful for government especially for banks. Because when people start to invest their money into crypto currency then banks have loss becasue of lack money, and banks and government both are same. So if banks are not happy with crypto currencies then definitely government take a step and government has a power to ban it.

hwarico

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i think the money laundry and terrorist gangs are the main reason for banning Crybtos

JerryJam

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The government is not profitable bitcoin and the people who use it. The government is afraid of losing control over people. Afraid that people will gain financial independence. After all, not everyone uses cryptocurrency for peaceful purposes. The fight against corruption and organized crime should be its main objective.

pharaon

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Let's start with the fact that bitcoin is not always forbidden! Many countries are still undecided and take a neutral position at the expense of the crypto currency. There are also countries that recognize bitcoin as a means of payment. So there is nothing surprising in the fact that some countries prohibit it, due to the fact that in the future, crypto-currencies can adversely affect the economy.

Edsemen

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Quote from: fat buddah on January 21, 2018, 11:20:58 PM

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 easy, there are some countries who do not allow bitcoin in there, just like China, they want to have everything under their control, even the communications, they are 100% centralized, and why do you think that they will allow Bitcoins and cryptos in there? Of course not.

Exactly like that, but to think not at all. As long as bitcoin runs the through the community softly and warming it won't be banned . But if bitcoin will used as diversion for some illegal movements then it Will be band by the government.

hachimon

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I think the government is afraid of something that can not be controlled. A decentralized bitcoine can not be monopolized by anyone. they are afraid of bitcoin growing rapidly in their country and defeating their currency. An anonymous bitcoin is also not preferred by the government because it is vulnerable to crime.

Btcnaivie

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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

Bitcoin and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.But as the financial crisis of 2008 proved, banks are not above abusing trust to line their own pockets.

The key to its success is something called the blockchain. The blockchain is a means of solving the double-spending problem: which is that because the currency is digital it is open to being copied and spent more than once - something banks stop with physical currency. However, the blockchain acts as a digital ledger, whereby every single transaction (called a block) is securely linked together using cryptography and encryption. It's verifiable, available to everyone who owns Bitcoin and is immune to fraud and hacking - unlike centralised banks. It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.As such, it removes the need for any kind of traditional bank or regulator.

zhuiyongliang8

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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

Bitcoin is a natural enemy of the government. In addition to speculators, the faithful are mostly liberals and anarchists.

The recognition of paper money is that national credit is endorsed on paper money. Once the government has the right to print money, it can make money out of thin air. For example, the government owes a lot of money to the people. Simply, print money. What are the consequences of these massive amounts of money being printed on the market? The money is worthless, it's devalued. The most striking feature is the rise in prices.

Bitcoin prevents governments from abusing their power to manipulate money.

breathlessz

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Trphy.io

Quote from: jatin729 on April 17, 2018, 03:04:28 AM

Banning bitcoin is just really bad step taken by govt. i think govt. has feared by crypto currency. Government want control over the currency but they can't take control because of decentralization system. that's why government see bitcoin as an option for defaulters' who want to convert black money into white.

right. because of government can not control bitcoin then they have not legalized it. but in my country only for transactions that are prohibited. and i think government is still looking for a solution to that, because they know , they can not deny technological progress

jatin729

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Banning bitcoin is just really bad step taken by govt. i think govt. has feared by crypto currency. Government want control over the currency but they can't take control because of decentralization system. that's why government see bitcoin as an option for defaulters' who want to convert black money into white.

syamster

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Quote from: Infern0 on April 16, 2018, 07:46:16 AM

The reason is simple. Many governments are not aimed at improving the welfare of their citizens and therefore prohibit bitcoin. Or they are afraid for their national currencies, that they can not withstand competition with bitcoin.

Yes they know about the power of bitcoin, they have noticed the increasing interest of people for bitcoin, to me it is not possible to lose profit and my interest for bitcoin so I can feel that other people are also dreaming the same, I know bitcoin has very high potential to increase in price, but we will have to keep patience soon same as Japan and South Korea our government will know how good bitcoin is for the economy of the country, so they will accept the presence of bitcoin with open heart and open arm.

GTRr35

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Government don't have any control or access about bit coin and I think also that government is afraid about what are the impact of Bitcoin in the economy like they may not control the population and the number of person that earn a lot of money thru Bitcoin and government is not gain any taxes from bitcoin, and they not have the control about the system of Bitcoin and it's security features.

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