Why do some government ban bitcoin? - page 14.

shoreno

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Quote from: Jian_Liux on March 04, 2018, 09:29:34 PM

I think it is because they wanted to protect the welfare of their people.
We cant deny the fact that there are really cryptocurrencies out there which was created in order to scam people of their hard earned money.
And i believe government must be able to stop this but not to a point that they will ban bitcoin though.

the only way to stop these scamming is to completely ban them because if governments only stricts a few of them , they can still find a way in order to continue their illegal activities but despite that , there are still country that operates bitcoin and any other crypto related stuffs such as ico or online exchanges because these countries arent strict enough to stop their people from doing what they love.

cryptos isnt all about scamming, cryptos do also have worth and importance , that is why people still continues to use and support it.

jhongzjhong

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Quote from: usechain on March 04, 2018, 09:52:45 PM

Quote from: klebsiella on March 04, 2018, 08:36:01 AM

The reason is FEAR. The government cannot control bitcoin transactions and they will not know how owns it. Unlike fiat, the government can determine the issuance, transfers and they can even destroy it. They don't the idea of not having a banking system anymore and afraid that somebody might use it for illegal activities.

Yes, and now the development of bitcoin has not really stabilized. Therefore, it is very difficult for the government to formulate a tax policy. I think the reason the government banned bitcoin is probably that they can not find a proper control measure.

Not only by fear also they can't be embraced bitcoin because it is the big competitor of our government's banks. They know that through bitcoin some money of their country will be a bypass to another and cannot be regulated. Another factor that possibly happens bitcoin may use in illegal activities such as buying weapons or prohibited drugs.

abaidudez

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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 see that too that other big countries banning bitcoin or not only bitcoin but other altcoins. Example of that is China. I remember the news before the end of year 2017 that China banned Crypto and after few months Bitcoin price boom up so rapidly. I think one of the reasons why they ban it because it can be used in illegal transaction.

usechain

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Quote from: klebsiella on March 04, 2018, 08:36:01 AM

The reason is FEAR. The government cannot control bitcoin transactions and they will not know how owns it. Unlike fiat, the government can determine the issuance, transfers and they can even destroy it. They don't the idea of not having a banking system anymore and afraid that somebody might use it for illegal activities.

Yes, and now the development of bitcoin has not really stabilized. Therefore, it is very difficult for the government to formulate a tax policy. I think the reason the government banned bitcoin is probably that they can not find a proper control measure.

Jian_Liux

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I think it is because they wanted to protect the welfare of their people.
We cant deny the fact that there are really cryptocurrencies out there which was created in order to scam people of their hard earned money.
And i believe government must be able to stop this but not to a point that they will ban bitcoin though.

rajkr

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BTC creates threat to country own currency.it can also be used in illegal activities and money laundering because its transactions are not controlled by country government agency.

khai29

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Because some people they use bitcoin in negative way or bad way that's why some government ban bitcoin in the other country,if that case happen maybe government recognize bitcoin part of the currency.

jeysonserafini1

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Because they feel not safe when they adopted Bitcoin, Bitcoin is a threaten to banks and their financial. That's why they keep Bitcoin away from their residents.

Nyeyzel

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I think government ban bitcoin because they know what will be the effect in banking. People might put their money in bitcoin and not in the bank. They know there is no control in the price of bitcoin and it might be used in some illegal transactions like money laundering. The government doesn’t fully understand the benefits of bitcoin if they will legalize it.

karloscimot

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if in my country in Indonesia gan. the government instead of banning only not recognize bitcoin. because the presence of bitcoin in Indonesia is still illegal because the government can not be tax from bitc the proof bnak central Indonesia still serve bitcoin exchange with rupiah.
only the government still forbids if bitcoin is used for the transaction tool .oin trade .

angelakrasnova

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banned because not all countries want to inject bitcoin because of their infrastructure is weak.

Gheka

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Quote from: Jerzzz on March 04, 2018, 07:46:48 AM

For me i thing the main reason why some government banned bitcoin is that because they're not getting any profit from the community or in short they don't get any taxes from the bitcoin users. That's why some of the countries ban bitcoin because there are many people who works in cryptocurrency earn a lot and they don't pay any taxes.

Exactly, the government does not get any benefit from bitcoin, and they even to solve problems that Bitcoin can create, in particular, situations such as tax evasion and the use of bitcoin for illegal activities, it makes them very headache. Therefore, they are forced to ban Bitcoin because they do not have the ability to solve all problems, Bitcoin with them is a real disaster, although they have banned bitcoin but they can not be managed completely, somewhere in their country, bitcoin is still a place that attracts many people, it still has a certain influence on the government

Ajinomoto40

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Buy, sell and store real cryptocurrencies

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.

Bitcoin has been a good way to earn money and that money is seriously large that's why the government of every country is being cautious about it. There's no tax also when it comes to this kind of situations that's why they feel like its a threat to their economy. Another thing also is because bitcoin is being used for some illegal transactions since it is well secured and the users are always anonymous.

klebsiella

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The reason is FEAR. The government cannot control bitcoin transactions and they will not know how owns it. Unlike fiat, the government can determine the issuance, transfers and they can even destroy it. They don't the idea of not having a banking system anymore and afraid that somebody might use it for illegal activities.

wasaisisisi

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They are afraid that its citizens will have an idea of using it for the same purpose. As we know government don't want to take a risk. Because government can't take a control of bitcoin, and government didn't want their economy will go down. That's too risk they think. And as we know if bitcoin accepted, the bank of country will be rival with bitcoin.

richjohn

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The government loves to exercise its control over everything in order to feel in power, but, in the case of cryptocurrencies, they were stripped of this controlling authority. So, anything over which government doesn't have control, they sees it as a threat, and hence they bring in policies to ban it.
The government does have some legitimate reasons to ban it though, since the use of cryptocurrencies is prevalent in black market and illegal trade.

Jerzzz

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For me i thing the main reason why some government banned bitcoin is that because they're not getting any profit from the community or in short they don't get any taxes from the bitcoin users. That's why some of the countries ban bitcoin because there are many people who works in cryptocurrency earn a lot and they don't pay any taxes.

ezekhiele

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" As long as you love me"

Government ban bitcoin for some reasons. First, bitcoin don't have tax. Second, no one could trace the transaction in bitcoin. Third, bitcoin can be used in illegal transaction like drugs, crime and other. But, behind it bitcoin is really useful to the people who join it. They become millionaire because of crypto.

fuer44

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because bitcoin could potentially serve as a tool of transactions for crime, such as buying illegal weapons, drugs and money laundering. the government is also worried about the price change of bitcoin in a short time. they are worried that people will suffer huge losses from bitcoin investments.

xamil

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Some countries banned bitcoin maybe because they don't know the real meaning of bitcoin,don't know that it is helpful to those who have no work and maybe because they do not control some illegal things that their country do's and they think that bitcoin will easily use by illegal transaction. But they do not know that bitcoin is more advantages that will help people then.

Topic: Why do some government ban bitcoin? - page 14. (Read 12625 times)