Why do some government ban bitcoin? - page 12.

recklessMe

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Quote from: Doell on September 07, 2017, 11:50:34 PM

Point A government's sets bitcoin bann not because they know what bitcoin is and what the bitcoin is, the government is told what it is bitcoin and so on but the government keeps claiming bitcoin as a threat to banking.
Point B government claims bitcoin as a tool to launder money.
Point C government see unstable prices
Just opinion

I agree with you.
Besides, while banning Bitcoin some governments claim it is connected to money laundry, drugs, terrorism or other illegal activities. But governments are eager to use beneficial tech like blockchain for revival and modernization of banking and financial systems.
Therefore, it seems governments are kin to restrict individuals from using Bitcoin or impose taxes on it, but they are ready to get their advantages.

markleal

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HODL

Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

Is botcoin really that bad? To banned by other countries?

Hi there TanClan98, as I believe bitcoin were being banned by other countries due to the increasing illegal activities that utilize bitcoin, these includes scams, theft and even serious injuries due to treat. In order to protect their citizen, they choose to ban bitcoin.

Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

Do the other government in other countries see something bad?

Yes, long way before government hunt down several bitcoin users which utilize bitcoin as a payment in the black market. Other counties intel by then shared information specially if that information could lead to security improvement of a country.

Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

I think it can’t, bitcoin transaction which logged in the online public ledger only shows information about addresses of the sender, receiver, the amount, blocks information and the like. It doesn’t include IP address or physical address of the sender nor the receiver.

haster100

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Some government's impression about bitcoin is that it's heavily used in money laundering and crimes that's why they ban it. It's not really bitcoin being uncontrollable by banks and the government, but because of it being used in illegal activities more often than cash.

karin9222

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Because something circulating in a country must be ensured of security, legality and impact on society by the government itself.
While the government is worried about Bitcoin will affect the value of the country's currency.
Therefore a country that doesn't have strong economic resilience will choose to ban Bitcoin to enter in the country.

tegarp90

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because they want our money from tax.
If we own bitcoin, don't care how much we have. they can ask any task from it because they don't know we have that much money in digital currency

Marco Ambrusini

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Some countries prohibit its citizens to use it because bitcoin has been use before in illegal activities that was uncovered by the authorities and they are afraid that its citizens will have an idea of using it for the same purpose. Because of its anonymity, some people who do something unlawful prefer to use it instead of payment option that is traceable and that's why some media also emphasize more the negativity of using bitcoin and other crypto that's why others prefer not to be involved with it.

tanxingwo1215

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The design idea of BTC is decentralization and anarchy!

Because the government collects people's assets by issuing money, BTC protects people's property!

The government has no way to profit from BTC, so ban it!

SergeYak

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Governments of those countries just trying to save their money from taxes Grin

They getting problems with economy and choosing the easiest way - ban.

zentdex

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Yes, there are several topics here and across the internet about negative effect of bitcoin. Just like any technology out there, most of the people check first the positive it could bring and followed by the negative it could bring. Let say for example the mobile phone, some say it could trigger cancer because of radio frequencies but, look around, there are lot of people just ignore the cons and embrace the positive effect. I hope that kind of phenomenon would also happen to bitcoin.

cutiecez05

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Some government ban bitcoin because they think that bitcoin affects economy and some are using bitcoin in illegal ways. Bitcoin also affects currency matters maybe some government believe that bitcoin slows down progress that's why maybe they ban bitcoin.

Babylon

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

Often the government is selfish. The type they know is that bitcoin can help people in the community but the government restricts them. Bitcoin does not want to handle the government, bitcoins fight against the government, because they do not hold it? what the government will do is ban it. In fact many people hate the government leaders, they are angry because of their misrepresentation. Undecided

gordeevaverona

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I think because it is not beneficial for the government to make people free from taxes. The government does not get anything from bitcoin, so they are often against it.

prediction on bush

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

I think, the other government thinks that the bitcoin cannot help their economy to grow, the government presently cannot tolerate the risk for bitcoin investment. I don't know why the other government thinks that the bitcoin is cannot help their economy grow. It's not really bitcoin being uncontrollable by banks and the government, but because of it being used in illegal activities more often than cash.

Kaan53

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Because some governments banned Bitcoin because they think it is harmful but Bitcoin has even more income if it is not harmful because Bitcoin is the first Internet payment and Bitcoin is trying to be a currency where you can buy and sell whatever you want on the internet so I think the consequences of your credit cards will come to me if Bitcoin is legal. After 2 years, we will let Bitcoin become legal, and Bitcoin will be entering our .

cmaxwell

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some governments actually plans to ban the digital currencies from flowing in their economy just because of the past occurrence on fraudulent transactions .

micher143

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Quote from: TanClan98 on September 07, 2017, 08:04:12 PM

I See topics about banning and I want to ask.

Is botcoin really that bad? To banned by other countries?
Do the other government in other countries see something bad?
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

Perhaps, those government who wants to ban bitcoin is seeing a different perspective in this technology, we ca not actually see what is running on their mind. But, to ban something that become essential to the public, and help them improve their individual financial status is somehow complicated to think about. Maybe, their economic system does not comply with the system. In due time, we can expect more of regulation rather than banning bitcoin by these countries that oppose bitcoin.

addeqt

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Bitcoin itself is not bad, he not even hurt someone’s feelings. Lol. People just use bitcoin to took some money of others which they most commonly called as scam. But bitcoin is just the currency involved, it could be a dollar or local fiat. In the early years of bitcoin, people on the underground use it to buy illegal stuffs, but what makes it interesting is that they are able to locate those person and bring behind bars. It seems they were been track due to the blockchain technology which prints a transaction, open to the public and cannot be undone.

Polonium

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Some government ban bitcoin because presently they have no means to monitor or regulate the system, the government, has a mandate to protect their people from harm and they consider bitcoin as a potential harm as it is very volatile and people can loose all their investment in an instant, the government presently cannot tolerate the risk for bitcoin investment. Another reason is maybe because they cannot benefit from it or the industry which they a benefactor is at risk from Bitcoin.

always1337

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I think they're doing the prohibition things to protect their banks. Banks are afraid of Bitcoin so much and they're telling goverment to do it.

MCVXYZ

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Quote from: Saimoon on March 05, 2018, 06:55:06 AM

Some government ban Bitcoin because they think it's dangerous and people will buy illegal things like drugs and stuff. Also some government things people do money laundering via Bitcoin. That's some of the reason they ban Bitcoin an other crypto.

Can you tell me which countries think that bitcoin is dangerous and people will use it for their criminal activities? I think there are only countries which don't have experience on this case,at the same time there are not a lot of court practices and they don't want to make decisions by themselves.there are poor rumors that bitcoin is anonymous,its not anonymous,BTCis pseudo anonymous.I think Countries which don't like bitcoin they just don't try to make regulations( or they may don't have enaugh resources) and they do restrictions,in another situation if they create good regulations goverment will not think the same.

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