Topic: Why do some government ban bitcoin? - page 16. (Read 12625 times)
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.
The reason why some countries in the world forbid bitcoin as a means of payment may be the reason that perhaps the country that forbids the bitcoin is afraid that one day bitcoin will replace the paper currency in his country and another reason may be a country that forbids bitcoin to think that bitcoin will only harm the world government bank .
Those who see governments banning ownership of bitcoin are ignoring the political power and influence of those who are buying enough bitcoin to matter.
What many countries fear if legalizing bitcoin is used for money laundering and tax evasion, it will make it difficult for the state to track down corruptors and people who do not want to pay taxes so the best solution is banned bitcoin.
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.
This is all because states are simply afraid of losing control of the monetary system. I think it is just temporarily. Because they can just make huge profit on it. I think they would not ban it in the future, but they (or conglomerates of banks) would manipulate with it through their big capital.
Bitcoins has a feature of anonymous transaction. In simple words you can't reach to that people who is making transaction and paying for some stuff. Since there's no identity required to make transaction so peoples use this fact in illegal activities. So to prevent these illegal things Governments are willing to ban bitcoin and its use.
Restricting the currency inside the country, the Chinese government indicated that the crypto currency is a threat to the country's economy because it allows uncontrolled withdrawal of funds outside the country. Another motivation was that the crypto currency could be used by criminals. Because it is anonymous for transactions. After the December surge in bitcoin in price, some countries began to restrict the circulation of bitcoin due to the fact that it proved to be a usual financial bubble. It explained its actions by the need to protect the interests of its citizens.
Claims proves that it's the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. That lack of central authority is the primary reason governments are afraid of the cryptocurrency. To understand this fear, it is important to know a little bit about governments and...
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.
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.
Because they cannot regulate Bitcoin itself, or at least doesn't how to. And because of this, Bitcoin or crypto-currency can be a threat to its economics. Even if Bitcoin have positive influences to its people, these governments will not take risks on something they cannot control.
Bitcoin and any other crypto can be use in illegal actives like money laundering, illegal drugs transactions and many more.
In my tiny knowledge about its technicality, I think you cannot be located by using bitcoin alone. You can be located by your IP address or other information that you provided in the www that connects to bitcoin (email addresses, info you provided to the exchanges etc).
But, why do they change to use Monero?
You must to know they have reason to use Monero instead of Bitcoin, because the liquidty of Monero is worse than Bitcoin.
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 and support several reasons stated above.Because bitcoin is not controlled by the monetary authority that is central bank, the government must issue or create formal law and regulation relating to bitcoin operation.Under this law Point B government claims bitcoin as a tool to launder money.
Point C government see unstable prices
Just opinion
government must be able to controll and try to minimize negative impacts like money laundry, terrorist funding, illegal drug and or weapon purchase, etc. The government also can collect taxe from investment gains which can support the country economy.
They do mainly because of legislation issues, but its also because bitcoin isn't taxed, the argument is that free bitcoin operations weaken the economy
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.
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.
Because they cannot regulate Bitcoin itself, or at least doesn't how to. And because of this, Bitcoin or crypto-currency can be a threat to its economics. Even if Bitcoin have positive influences to its people, these governments will not take risks on something they cannot control.
Bitcoin and any other crypto can be use in illegal actives like money laundering, illegal drugs transactions and many more.
In my tiny knowledge about its technicality, I think you cannot be located by using bitcoin alone. You can be located by your IP address or other information that you provided in the www that connects to bitcoin (email addresses, info you provided to the exchanges etc).
In my opinion, governments ban Bitcoin because they are afraid of it, as its system is decentralized, so governments have no control on it. And we all know that governments love to control its population.
It is out of their control and some people avoid taxes using Bitcoin. The government wants its taxes 
Just simple because they afraid their money will go to value 0!
What can't be controlled then it will be banned for any reason
What can't be controlled then it will be banned for any reason
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.
Some countries are so backward that they think bitcoin is a scam. It's anonymous, it's decentralized, it's not controlled by the state, it's likely to have an impact on the country's economy, so it's forbidden to trade bitcoin. 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 or cryptocurrencies in general represent money, and governments hate when they loose control over anything, especially when they loose control over money. So some governments that are scared are choosing to try to ban crypto
The general stipulation of the countries that make a ban on Bitcoin is to fight illegal money obtained from criminal activities. But we all know that national currencies are used for illegal money. The most common currency in this area is American dollars.
Not only crypto currency can use in illegal, even fiat can use in criminal activities but they don't ban fiat because fiat is the money we use for everyday ,so for me it is same in bitcoin, even they ban bitcoin or not criminals are always find ways to do an illegal thing.
Bitcoins are not entirely bad, it has many benefits and it can help someone have a better life but many countries forbid bitcoin because bitcoin is digital money, governments can not control the development of bitcoin, can not control the number of bitcoin transactions and the government can not tax the bitcoin.
Why not? I heard the Japanese government will take a high taxation fees for Japanese traders soon. I remember it is from 35% to 55% per trader/year (from profit trader earned). It means a trader can spend ~50% total of profit earned from cryptocurrency to the government as a taxation fees, what do you think about this case? Jump to: