Topic: Why do some government ban bitcoin? - page 22. (Read 12625 times)
Because the government has a complicated regulation of bitcoin. the first of the digital currencies that some political experts say would harm and affect their finances. The BTC has global scalers because it includes global currencies
Some government banned bitcoin in their country because they want to lessen the accussation on scammers using bitcoins and they want to protect their community. Maybe also they want to hold it because btc has no ownership and can lead to non taxable money thats why they want to have connection on it
perhaps because the government is afraid that its people will be caught in the negative by bitcoin because of the news that bitcoin has the potential to fund crime.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly. Therefore, they know that Bitcoin and other decentralised cryptocurrencies allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks aren't happy about being made obsolete and with help from governments they are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.
Banks aren't happy about being made obsolete and with help from governments they are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.
Some governoments ban bitcoin because they are dependent on the banks, Banks support them when they make a big project for their people. Also that type of governments are borrowed by the Banks and in a result they get press by the Banks. Banks are against the bitcoin because in the future the user will prefer the bitcoin instead of the banks due to its very qualities. It may happen that bitcoin disappear the Banks.
Banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly. Therefore, they know that Bitcoin and other decentralised cryptocurrencies allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
Banks aren't happy about being made obsolete and with help from governments they are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.
Banks aren't happy about being made obsolete and with help from governments they are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.
Because it's going up. 
maybe the government has no way to control and track bitcoin, they can not do any taxes and can be used for illegal activities, and they are afraid of citizens using bitcoins that do not use taxes that make such activities illegal. for me bitcoin is a nice activity to use and it does not bother me as long as i use it.
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 there is relate with the currency value of each country. perhaps with a lot of people's purchasing bitcoin or with the permission of bitcoin in a country this can make people put their money into bitcoin and make the people leaving the country's original currency. then perhaps from the side of security that is not controlled by the government 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.
Other government ban btc in other country maybe they want in control j everything and they cant control btc right now. It makes them hard to find out scammer because btc can easily use to everyone.
Because bitcoin damages their interests, it is forbidden.
Bitcoin transactions are not taxed to the state.
Bitcoin is anonymous and the state cannot control it.
Bitcoin transactions are not taxed to the state.
Bitcoin is anonymous and the state cannot control it.
Firstly, they believed that bitcoin and alts are being used for illegal transactions such as money laundering and illegal drugs. Second, they see cryptos as big threat to banking sector. Third, maybe they are not yet prepared to control cryptoworld in such a way that both government and crypto community and supporters would ecomically, politacally and socially benefit.
Well all of what you said are true but I will go for number two of waht you said. I think it is the very reason why some government banned bitcoin. It is to protect the banks since it goves security or gives money to the government. It have tax while bitcoin has not. So the government will not benefit anything from bitcoin.
is 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.
Firstly, they believed that bitcoin and alts are being used for illegal transactions such as money laundering and illegal drugs. Second, they see cryptos as big threat to banking sector. Third, maybe they are not yet prepared to control cryptoworld in such a way that both government and crypto community and supporters would ecomically, politacally and socially benefit.
There are some specific reasons whose are responsible for this issue. Firstly, I want to say about the unfamiliar and rumour about Bitcoin, I believe that most of the Government official don't know about this system. so lacking knowledge is one of the major barriers of this point. Secondly, Government official thinks that Bitcoin is using for the purpose of money laundering but they don't have any clear information about Bitcoin. and Finally, I think government considers Bitcoin as a threat to a banking system.
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.
They see nothing bad. They are just afraid that there's some decentralized system they can't contol and see the only way is to ban 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.
It's too late for government to do anything against crypto. No one can stop this.
It's like Uber, Aib'n'b,, Megaupload, Napster, P2P download of DIVX... and so on
Everyone complained about download of music online but now thanks to first people downloading without paying this industry developped.
Crypto is like all those new stuff that were seen illegal at first but finally will be accepted by government because they have no choice ! They will put some regulation and decide which crypto is legal or not (giving licence, creating specialized auditing companies, quality certificates) and finally creating taxes for those legal cryptos.
It's like Uber, Aib'n'b,, Megaupload, Napster, P2P download of DIVX... and so on
Everyone complained about download of music online but now thanks to first people downloading without paying this industry developped.
Crypto is like all those new stuff that were seen illegal at first but finally will be accepted by government because they have no choice ! They will put some regulation and decide which crypto is legal or not (giving licence, creating specialized auditing companies, quality certificates) and finally creating taxes for those legal cryptos.
There are just few countries which have ban the Bitcoin, the other tolerate it, but they dislike it because they don't have any control on it as Bitcoin is decentralized. They see it like a threat.
you can read it here:
https://bitcointalk.org/index.php?action=search2
https://bitcointalk.org/index.php?action=search2
Government banned (or not supporting) bitcoin because
1. They dont gain tax from bitcoin.
2. Its decentralized, they cant control it.
3. Its not a secure investment.
You are right if the government can not control the price of very free bitcoin or depends on market demand then the nature of decentralization that makes the government can not do anything against bitcoin then the government does not like if everything without tax. 1. They dont gain tax from bitcoin.
2. Its decentralized, they cant control it.
3. Its not a secure investment.
They feel it's a threat to banking system and mostly feel it might bring too much comfort to citizens thereby making government irrelevant as the citizens won't look up to them for a better tomoro but instead work hard and make their little investment in bitcoin.
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