Topic: Why do some government ban bitcoin? - page 25. (Read 12625 times)
I think some governments banned bitcoin because of its price and it is so in demand the whole world. Also they can't earn taxes from bitcoin that's why they banned it and don't accept it as a currency.
They can not control them. Bitcoins are traded, making the government unable to control the country's money. And then power is not in their hands. 1 ban until there is a way to control the bitcoin
Some government ban bitcoin, because of they protect their own currency, that bitcoin will be becoming more popular than their currency, the other reason is their banks will ignore by their people on their country. So if they allowed bitcoin in their country they can't get tax from bitcoin. They could not control anymore if the bitcoin will indemand already, so they will do is to ban bitcoin. Not only for that reason the bitcoin is most stronger currency.
The problem with bans is that unless you solve the underlying issue people are going to keep using that which is banned, if a country is suffering hyperinflation some may decide to use bitcoin to escape this then the government realizes that and bans bitcoin but does nothing to solve the issue of hyperinflation, when the choices you have are to have enough money to eat and the chance to go to jail many people will take the risk and will prefer to keep their bitcoin and have food on their table than to die of starvation.They never want uncontrolled economy and they think citizens will be out of control when they involve in bitcoin and other coins. That's the main reason behind this behivour of the governments.
Actually the blockchain technology can be use for the illegal activities, which are can't be traced.
So the governments are not like that because of its out of control.
So the governments are not like that because of its out of control.
Some government ban bitcoin, because of they protect their own currency, that bitcoin will be becoming more popular than their currency, the other reason is their banks will ignore by their people on their country. So if they allowed bitcoin in their country they can't get tax from bitcoin. They could not control anymore if the bitcoin will indemand already, so they will do is to ban bitcoin. Not only for that reason the bitcoin is most stronger currency.
The problem with bans is that unless you solve the underlying issue people are going to keep using that which is banned, if a country is suffering hyperinflation some may decide to use bitcoin to escape this then the government realizes that and bans bitcoin but does nothing to solve the issue of hyperinflation, when the choices you have are to have enough money to eat and the chance to go to jail many people will take the risk and will prefer to keep their bitcoin and have food on their table than to die of starvation.
Because government banks can not control bitcoin, they also can not regulate bitcoin.
They think such things are beyond their acceptance, and the existence of bitcoin compromises their interests.
They think such things are beyond their acceptance, and the existence of bitcoin compromises their interests.
Now the global block chain industry bubble is serious, huge risk, and constantly superimposed, I think the government is in order to prevent systemic financial risk, protect the vast number of retail investors who do not have the ability to identify involved in this huge casino, so it is prohibited bitcoin.
This is because government banks suspect the potential for bitcoin fraud is used for unlawful acts such as terrorism, money laundering, prostitution and drug trafficking, as well as to safeguard the sovereignty of currency used as legal tender in each country against bitcoin. and bitcoin is only a digital asset, not a means of exchange or a means of payment.
Because of its anonymity, some people who do something unlawful prefer to use it instead of payment option that is traceable and that's why some media also emphasize more the negativity of using bitcoin and other crypto that's why others prefer not to be involved with it. I think that because banks accept Bitcoin but that makes the government concerned that their country will lose money. So they have a measure to ban Bitcoin from operating in the country.
So government ban bitcoin because they have no money from bitcoin because they are tax free and bitcoin is not legal in some country because they do not accept yet.Bitcoin used also some illegal activities that's why government have fear for the safety of there citizen.
I agree. The probable reasons why some government ban bitcoin are obvious. It could be because bitcoin has been used widely for illegal activities such as money laundering since transactions are hard to trace. It could be also because they see bitcoin as a threat to their government. We know that the system of bitcoin is decentralized meaning no one has the main control over it. So the government could not control it.
So government ban bitcoin because they have no money from bitcoin because they are tax free and bitcoin is not legal in some country because they do not accept yet.Bitcoin used also some illegal activities that's why government have fear for the safety of there citizen.
Actually they do not completely ban bitcoin, they just forbid that bitcoin not be used as a normal payment tool like fiat money, the ban is not without reason, one of the most common reasons is bitcoin price is too fluctuating. But if bitcoin is used as an ordinary stock market, it is not prohibited.
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.
To those who understand it, bitcoin is a blessing, but not everyone shares that sentiment. The first prerogative of every government is to govern, after all, and any disruptive technology that erodes their power is liable to receive short shrift
Because its not regulated. Governments cant collect taxes to bitcoin transactions.
This is a world conspiracy. And all is done by hands of the Asian countries
In my opinion some government ban bitcoins because of the anonymous nature of bitcoin transaction.
This could be used by some people to fund illegal activities and buying drugs or weapons.
The government fear that their national currency could die of competition , they fear that they would not have a peek in our accounts and would not be able to charge service taxes accordingly.
They fear that Bitcoin ones accepted can make their country Shadow trading zone.
Yes, yes, I think that because banks accept Bitcoin but that makes the government concerned that their country will lose money. So they have a measure to ban Bitcoin from operating in the country. This could be used by some people to fund illegal activities and buying drugs or weapons.
The government fear that their national currency could die of competition , they fear that they would not have a peek in our accounts and would not be able to charge service taxes accordingly.
They fear that Bitcoin ones accepted can make their country Shadow trading zone.
Govt or the central bank of the respective country can not control the flow of crypto currency , I think they can't take tax on each transaction . In my opinion , that's why govt van Bitcoin or crypto currency. Please suggest me if you got better
Because bitcoin doesn't tax and government generates income through taxes they do not want the existence of any currency or program that will interrupt their operations.
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.
Bitcoin is not that bad, botcoin I don't know about maybe it is
. I don't know if they see something bad to me it seems they are against innovation and we all know how that goes (they will join ship eventually). In short, yes they can locate you but they would need to use a mass amount of resources to do so and unless you are doing something insanely illegal you don't have to worry about the authorities. 
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.
Bitcoin is created as encrypted currency in short cryptocurrency .. Bitcoin is limited we have 21,000,000 total and 16,810,712 BTC in circulation. That's why they are scared that they can't control the people that will use btc, bitcoin can't be increase nor adding it's total supply unlike fiat . Banks will face crisis, and government will be affected as well. And we all know that bitcoin transact anonymously we as Individual, really avoid paying tax. That's why there are some country forbid the use of bitcoin because in some reason. We bitcoiner's doesn't pay the deserve taxes to the government, I admit it. And bitcoin could be possibly use to hide assets and refer as money laundering.
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