Why do some government ban bitcoin? - page 27.

Sate Jamu

sr. member

Activity: 431

Merit: 250

Quote from: ?? on ??

Because the government doesn't know how bitcoin is making a big profit, so far it's known for its use.

What the government hopes is to be able to control whatever the people use, this does not apply to bitcoin so the government takes the safe way with bitcoin banned.

almaroof

newbie

Activity: 88

Merit: 0

Some Government ban btc because they have no control over it

They can not manipulate it to thier own favour

belinda97

jr. member

Activity: 50

Merit: 10

Because some countries do not have the means to control bitcoin, while others don't have people who can be involved in development.

Annie B. Duncan

newbie

Activity: 3

Merit: 0

Quote from: TanClan98 on September 07, 2017, 08:04:12 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.

Therefore, the issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is a prohibited act, but in practice, the purchase, payment by bitcoin still. As the regulator of monetary, financial and foreign exchange, the government also recommended and recommended that people and businesses not participate in activities related to bitcoin and electricity bills. virtual money because there are many risks.

duchung

newbie

Activity: 64

Merit: 0

Quote from: TanClan98 on September 07, 2017, 08:04:12 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.

Bitcoin was be band by some country because they can't manage it and then they ban. Bitcoin not bad but the way we used it can be bad. This time Korea denies the ban. and the price of BTC increase

IvyAguas

jr. member

Activity: 69

Merit: 2

Because they cannot control Bitcoin, specially interms of taxation.

[email protected]

member

Activity: 365

Merit: 10

Many reasons could have lead to bitcoin ban by government in some country in additional to all the contribution made here but the primary reason why government did not support bitcoin is because government has no regulatory power over bitcoin and bitcoin related activities. The decentralized nature of bitcoin has taking the whole power government and mad government irrelevant in all its transaction.

laravuemaster

full member

Activity: 378

Merit: 100

When Football meets Crypto

Quote from: fengzhenwu666 on January 15, 2018, 07:12:05 AM

Some countries have encouraged the development of bitcoin transactions, and some countries have banned bitcoin, saying it is a hoax. I don't understand how these countries have decided, but I think it is a wrong decision.

Their decision is absolutely wrong, Some of the countries government are corrupted and they are blocking bitcoins circulation in the country to avoid people for becoming wealthy because their business might go down if people will invest more on cryptocurrency rather than working on the corporate world.

blockchain09

newbie

Activity: 74

Merit: 0

I think the high possibility is that they are afraid of being unable to control the economy of that country and the bank will gradually disappear. But I still do not understand why the government banned the exploitation of bitcoin. While it helps improve people's economics better. The US and Japan legalized bitcoin and I think that's a wise decision. The governments of the two countries always want their country to develop in many ways, so they will let the electronic money market circulate in their own country.

fengzhenwu666

newbie

Activity: 34

Merit: 0

Some countries have encouraged the development of bitcoin transactions, and some countries have banned bitcoin, saying it is a hoax. I don't understand how these countries have decided, but I think it is a wrong decision.

freakingcat

full member

Activity: 121

Merit: 100

They're afraid to lose their grip over people.

Paula L. Jessen

newbie

Activity: 3

Merit: 0

Quote from: TanClan98 on September 07, 2017, 08:04:12 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.

Virtual currencies tend to form a property bubble and tend to be used as a means of laundering and raising funds for terrorist activities, so it is likely to affect the stability of financial system as well as harm to the public ".

iamryan

newbie

Activity: 196

Merit: 0

Some government ban Bitcoin because other decentralized cryptocurrencies provide people with chance to trade directly with each other, without the need for a middleman or intermediary which is a bank. Therefore affecting the government somehow.

monkeydominicorobin

full member

Activity: 294

Merit: 104

✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Governments are jealous of Bitcoin for all the wrong reasons but Cyprus and Venezuela are thankful of Bitcoin for all the right reasons. So it is unfair to make a sweeping statement about Bitcoin. Let's face it nobody can ban Bitcoin because nobody owns it.

yoseph

sr. member

Activity: 868

Merit: 266

Most of the time, they ban it because of criminals using it for their illegal activities especially money laundering and tax evasion which is one of the reasons why the South Korean government want's to ban bitcoins and some other cryptocurrencies.

vicemi

full member

Activity: 161

Merit: 100

They want to control the people, that's why they ban things that they can't impose taxes on, for example.

readygoaw

full member

Activity: 476

Merit: 105

Quote from: shayon on January 06, 2018, 02:02:41 PM

Some government restrictions are bitcoin because it controls outside the central bank. Bitcoin Banking sector threat The government claims Bitcoin as a money launderer. The government does not get any revenue from Bitcoin. As a result, the work of the government is hampered. The government is not growing. But the government benefited from bitcoin if it brought it under the bank. In today's age, there was an employment opportunity of bitcoin

I think they are afraid of losing control over the movement of finance. But Bitcoin will win this battle anyway, progress can not be stopped.

btcCoincart

newbie

Activity: 308

Merit: 0

Ban it when government can't control it. That's the truth!

Blue Bell

member

Activity: 280

Merit: 10

Quote from: JL421 on January 11, 2018, 04:28:41 AM

Quote from: TanClan98 on September 07, 2017, 08:04:12 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.

Bank's are scared that people will prefer btc than cash in the long run. To protect their interests Banks approach the government to sideline btc and other cryptocurrencies. Bitcoin is not bad, it's a very prospective investment which was created to help people earn.

I think there are still some countries which are thinking that may be bitcoin is fraud or maybe they want to use their people for their own work in order to collect tax from them because tax is playing a very good role in any economy of the country and I’m sure that bitcoin is not that kind of currency which make a problem for any country because bitcoin is the only hope and currency for every country and I think its proof already.

kalph22

member

Activity: 121

Merit: 11

Quote from: TanClan98 on September 07, 2017, 08:04:12 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.

The government of other countries bans Bitcoin because of they can't trace any transaction of their people that they may think doing some illegal, and they can't do something to stop it. So.. maybe because of that they have the idea to Bans Bitcoin in their country, Because they can't control transactions of Bitcoin. And there are Banks in their country that may be lose in Bitcoin and they feel that their profit will go low if Bitcoin will be legal in their country. But, this countries that bans Bitcoin are, I think is just really thinking for the safety and security of their country.

Topic: Why do some government ban bitcoin? - page 27. (Read 12625 times)