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Topic: Why do some government ban bitcoin? - page 15. (Read 12625 times)

newbie
Activity: 117
Merit: 0
March 04, 2018, 07:05:21 AM
ban other governments bitcoin because other governments want their control over bitcoin prices that bitcoin does not want to turn them into other countries that their government wants them to control at prices similar just china to ban their bitcoin on them so no chips are helped by bitcoin.
newbie
Activity: 149
Merit: 0
March 04, 2018, 07:02:48 AM
In my opinion why the Government ban bitcoin is because they can't touch bitcoin, as we all know bitcoin is a peer to peer network the transaction work directly from user to user, and doesn't need a centralized bank for a transaction to be made. So in my opinion this is one of the reasons why because they can't gain something from it or make a profit to the transaction made and bitcoin is tax free that's why.
full member
Activity: 392
Merit: 112
March 04, 2018, 07:00:59 AM
It is because in bitcoin there is no tax so they cannot earn money there, when their people uses bitcoin, they can't get tax. That's why so many countries banning bitcoin  because of corrupt governments.
member
Activity: 129
Merit: 10
March 04, 2018, 06:49:51 AM
Which countries think encryption because currency would let investors money loss, currency and the encryption mechanism is not perfect, so which country does not want encryption currency will affect the investment market of the country,

sr. member
Activity: 479
Merit: 250
https://streamies.io/
March 04, 2018, 05:15:44 AM
BTC is not bad, but the criminals can use its anynomous to for illigal activities such as money laundering, weapons trafficking,... Therefore, the governments usually ban which they can not control.
member
Activity: 420
Merit: 10
March 04, 2018, 04:25:06 AM
some countries forbid bitcoins because they are afraid of losing their country currency because the price of bitcoin is very high compared to the price of currency in the real world.
jr. member
Activity: 43
Merit: 2
March 04, 2018, 03:32:47 AM
Some Governments ban btc as well as other crypto as they see them as a threat. Perhaps they think btc is risky, dangerous to their economy or just simply they got no control on it. As far as I know, btc or crypto in general dont benefit some Gov so much, until now. So they have no reason to support the thing that they think cant do good but only do harm to them
full member
Activity: 364
Merit: 105
March 04, 2018, 03:26:47 AM
If bitcoin is completely implemented then government would get no taxes and illegeal activities will increase online and that is bad for every government so govt priority to ban bitcoin.
full member
Activity: 448
Merit: 100
March 04, 2018, 03:12:37 AM
I understand them because their citizens have lost too much money because of those many scams and unsuccessful ICOs and their money are used for the devs experimentation on blockchain. But I am sure that deep inside, they really support it and just waiting to unban it when things gets much more regulated.
hero member
Activity: 683
Merit: 500
March 03, 2018, 10:58:54 PM
Bitcoin isn't bad. However our Governments see bitcoin as something harmful for them. The reason is simple, when our government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire planet! And the governments cannot be able to perform their legal obligation to the society! That makes the government to take hostile approach to crypto-currency.
jr. member
Activity: 142
Merit: 2
March 03, 2018, 08:05:23 PM
The reason why the bitcoin is banned in some countries because government think it will be have bad effect if they don't banned bitcoin. Some economy will go down because bitcoin. And they can't control bitcoin too because they can't touch it.

And one more thing about banning bitcoin in other countries  is that,  they just want to protect their country men losing  their wealth,  we all know that bitcoin is anonymous that's  why some people tend to use it for crime just like buying drugs using bitcoin, in this case the government  will hard for them to trace this matter that's  some country banned bitcoin.
member
Activity: 241
Merit: 11
March 03, 2018, 06:31:07 PM
There are many reasons as to why some governments ban bitcoin and bitcoin-affiliated activities amd sometimes illegalize the use of them. But from all of this two reasons stand out. One is that because they lack knowledge and another is because they think it would hurt potential foreign investors therefore hurting their economy. More than that they also think that when bitcoin thrives as a currency, it sould be the end for their national currency.
hero member
Activity: 798
Merit: 501
March 03, 2018, 06:09:52 PM
Many countries are not accepted in bitcoin but they are use in bitcoin. bitcoin is one kind of cryptocurrency but govt can't accept in currency but they aren't  smoothly translation. before few days ago i see the news bitcoin is not accept in many countries. actually bitcoin is the better think for product buy and sell. There are many booth in bitcoin they are freely transaction in bitcoin. i said that govt should follow accept the bitcoin.
Every country have their own rules and policies, but i think that those countries who have rejected bitcoin they will review their discussion and will turn bitcoin a legal currency. In fact bitcoin is the need of the modern time and in modern time hopefully bitcoin will be the most popular currency of the world. therefore they will compel to turn bitcoin as legal currency.
sr. member
Activity: 547
Merit: 253
March 03, 2018, 05:37:02 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 they banned bitcoin in their country because they are scared that someday bitcoin will be the only money that will used by theie citizens which is alarming to them because bitcoin is not part of government so their is no taxation that have been happen, which may result to lack of money of the government.

Yes, it is very possible. Other governments wanted to banned bitcoin because of fear. They are fear and scared that Bitcoin will be a legitimate currency that will replaced fiats and money. But in the other hand, This idea is not a good decision. Replacing fiats by bitcoin is very impossible i guess. It will not happen.
member
Activity: 322
Merit: 16
March 03, 2018, 05:35:55 PM
The reason why the bitcoin is banned in some countries because government think it will be have bad effect if they don't banned bitcoin. Some economy will go down because bitcoin. And they can't control bitcoin too because they can't touch it.
full member
Activity: 251
Merit: 100
Powered by Artificial Intelligence & Human Experts
March 03, 2018, 05:33:07 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 they banned bitcoin in their country because they are scared that someday bitcoin will be the only money that will used by theie citizens which is alarming to them because bitcoin is not part of government so their is no taxation that have been happen, which may result to lack of money of the government.
member
Activity: 406
Merit: 13
March 03, 2018, 05:30:59 PM
Many government ban bitcoin because they see bitcoin as a threats to their authority because the government can never be able to control bitcoin due to it decentralization. The government now view bitcoin as what should not be welcome because bitcoin will set the pest for a perfect redistribution of wealth in the world economic system.
full member
Activity: 319
Merit: 100
March 03, 2018, 05:29:07 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 only point that the government banning bitcoin in their country is it because they have a lack of knowledge about bitcoin. If you dont have enough knowledge about bitcoin then you can easily believe on the fake news in social media that bitcoin is a really bad thing in internet which is the possible cause of banning of bitcoin in other countries.
full member
Activity: 276
Merit: 100
March 03, 2018, 05:24:45 PM
Banning of bitcoin in some countries maybe because it is uncontrollable,they cannot control it  and the negative news about it are a bad impact to everyone who is not aware how btc can change the economy.
hero member
Activity: 552
Merit: 500
March 03, 2018, 05:13:25 PM
Maybe because it is decentralized and a lot of transactions, including illegal ones, are out of their control. Scams and illegal matters may harm their people specifically those who do not have enough knowledge. Banning it in their country will increase security and protection for its people.
Yes, it is also a reason make the government consider to using Bitcoin and accept it is legally. However, the criminal can still using other payment method or cryptocurrency without accept of the government. Because the crimininal are not stupid to show public their transaction Roll Eyes
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