Topic: Why do some government ban bitcoin? - page 17. (Read 12625 times)
The main reason why the bitcoin is banned in some countries is because governments in some countries that the bitcoin have a disadvantages if they will legalize it. and which they feel has the potential to have a negative impact on their economy or that of which they do not understand the potential effects of, its also important to understand that some countries are ruled under dictatorship.
Governments regulate currencies to protect their ability to tax profits, control liquidity in their economies, and to be able to control the rate the money supply expands through their central banks. Some governments, such as China's, also regulate the ability of individuals or organizations to move assets outside the country through imposition of currency controls. Bitcoin allows individuals to sidestep this regulatory scheme which is why you are seeing more and more interest on the part of regulators worldwide.
Many Countries ban that of which they feel has the potential to have a negative impact on their economy or that of which they do not understand the potential effects of, its also important to understand that some countries are ruled under dictatorship. Certain countries banned both Google and Facebook, and once these companies became further established they unbanned them. It is a typical process that has happened to many different tech related companies.
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 do some government ban bitcoin?
Maybe the reason why some governmemt ban bitcoin because it is not yet legal internationally.
Maybe the reason why some governmemt ban bitcoin because it is not yet legal internationally.
Why should any government care about Bitcoins? In a capitalist system, people have a right to buy what they want with their money, and accept whatever they want for goods or services. Banning Bitcoins would make as much sense as banning DisneyDollars.
Nothing, per se.
However, like so many other things that have been banned, yet are difficult to enforce, such bans would likely simply be ignored.
No longer having government-sanctioned access to cryptocurrency exchanges, and so on, might be inconvenient - but - due to the nature of cryptocurrency and its underlying technology, government bans might actually increase its usage and strengthen its adoption.
Especially in parts of the world where the local currency is neither strong nor stable.
However, like so many other things that have been banned, yet are difficult to enforce, such bans would likely simply be ignored.
No longer having government-sanctioned access to cryptocurrency exchanges, and so on, might be inconvenient - but - due to the nature of cryptocurrency and its underlying technology, government bans might actually increase its usage and strengthen its adoption.
Especially in parts of the world where the local currency is neither strong nor stable.
The powers that be intend to implement negative interest rates in the banks. The only way to do this is to ensure that there are no alternatives to the banking system. That is the reason for the current war on cash and will be the reason for a war on precious metals and crypto currencies.
By shear power of might they will win.
I hate it but I cannot avoid the logical conclusion.
YES! governments and banks will find ways to limit, control, and perhaps eliminate Bitcoin and other crypto currencies.
By shear power of might they will win.
I hate it but I cannot avoid the logical conclusion.
YES! governments and banks will find ways to limit, control, and perhaps eliminate Bitcoin and other crypto currencies.
For bitcoins often in ban by the government, this is due to not controllable bitcoins by government, and the regulation goverment is still unclear, so the presence of bitcoins is still regarded as a threat rather than as a useful thing.
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.
The only reason for governments to ban bitcoins in their country is, if there's a negative affect. In my own opinion, bitcoin and fiat is just the same because they can be both use on illegal transactions but they should not ban bitcoins since it helps people to sustain their daily life.
Jan 15, 2018 - Cryptocurrencies have been threatened at one point or another by nearly every country on the planet. Rarely does a government venture beyond rhetoric. Those resorting to crackdowns are often met with greater public appetite for decentralized virtual money, making all that initial fuss an exercise in futility.
If you look at countries that ban bitcoin, there are several features.
First, domestic inflation is serious.
Second, there is a serious corruption problem in this country.
First, domestic inflation is serious.
Second, there is a serious corruption problem in this country.
Government needs a vast fund to maintain their country.They collects this funds from general peoples through Vat,Tax,Tarrif etc.But bitcoin is a coin from where government can not take any tax or vat.that's why some governmet has banned bitcoin.
I think it is the government that rejects bitcoin because it does not have the proper tax revenue. And the decentralization of bitcoin is beyond the control of the government. Maybe the government will be afraid that the bitcoin will be out of control after the economy is out of control. Government needs a vast fund to maintain their country.They collects this funds from general peoples through Vat,Tax,Tarrif etc.But bitcoin is a coin from where government can not take any tax or vat.that's why some governmet has banned bitcoin.
Yeah i think this is the only reason thats why some governments that are banning it just because of this concern otherwise no other government is banning it because they all know that this coin is the symbol of development on the area and via this coin they can earn a lot of profit and the living standards of their citizens may also get changed and bitcoin owe it.
Government needs a vast fund to maintain their country.They collects this funds from general peoples through Vat,Tax,Tarrif etc.But bitcoin is a coin from where government can not take any tax or vat.that's why some governmet has banned bitcoin.
Bitcoin decentrilized and independent currency. The government can't control it. No taxes. Also they want to protect their own national currency. But the demand of bitcoin is increasing day by day and they have accept it.
The strongest reason of bitcoin banned government is certainly because bitcoin can not be controlled, as long as bitcoins can not be controlled then it is very risky if the government legalize, of course the government is worried that the use of bitcoin can damage the existing financial order.
If there is a fraudulent action then the government will ban it no matter how good to the people their services is; therefore the company should always monitor and not tolerate those illegal activities which can affects their images and reputation.
In some countries the goverment has banned the bitcoin for their profit , as because they want the tax from it and they are thinking about it how to work on it?
Government are trying to ban bitcoin because they think it is a form of gambling and it can also leads to different crimes like scam ,extorsion, money laundering and etc. It has a possibility that our economy will be go down because they will choose to do bitcoin instead of regular job to avoid paying taxes .
Everything mentioned is true, in my opinion. I think the govt is banning Bitcoin more because people get to avoid paying taxes by transacting with it.
Government are trying to ban bitcoin because they think it is a form of gambling and it can also leads to different crimes like scam ,extorsion, money laundering and etc. It has a possibility that our economy will be go down because they will choose to do bitcoin instead of regular job to avoid paying taxes .
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