Why do some government ban bitcoin? - page 28.

Zanuar Erik

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Quote from: raypinch on January 11, 2018, 04:49:08 AM

They are always afraid of things that they cannot control, once they think of how to control crypto, they will be very calm

yes, it is such a thing that creates fear. what if they want to learn and understand about bitcoin, really amazing, a lot of benefits bitcoin.

ungongbuotan

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The main reason they are afraid of bitcoin is because they cant control bitcoin. Bitcoin is decentralized and there is no way they can manipulate it. Government also cant tax bitcoin and that is bad for them.

changcloy

full member

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some government ban bitcoin it's because there were people using bitcoin in illegal transaction as bitcoin can be process with out knowing the real identity of the person so it was so advantage to those kind of people who like dealing drugs or any illegal matters which the government afraid of.

mx667

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Quote from: genology on January 11, 2018, 08:56:24 PM

As a government, they want to control everything by their rules and policies so that everything will be in order. This cryptocurrency is beyond their rules and it may affect the security of the people in their country.

First of all, we all know that our flat and cash money always keeps in the bank. And we all know that all transactions are limited and only adults can use. While cryptocurrency is not limited by anything, both in terms of transactions and the amount of money sent. Everyone can use cryptocurrency without age limit. And we're storing cryptocurrency in online wallets that have nothing to do with banks and governments. We can be the bank itself by using cryptocurrency and wallet online, therefore the government and the bank can not take profit from us. Maybe that's why they tire Bitcoin. In fact, the government can take advantage of Bitcoin if you know how.

genology

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As a government, they want to control everything by their rules and policies so that everything will be in order. This cryptocurrency is beyond their rules and it may affect the security of the people in their country.

Creating N Action

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I think the reason why Some government banned bitcoin is because they think that bitcoin is scam. For them, bitcoin can affect their economy to fall down and it is too risky but the truth is not. Bitcoin helps many people to earn an extra income wherein they can buy all their wants and needs as well as they pay their all expenses.

zebii memon

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government bane bitcoin because educated people donot do job and work in bitcoin

puturo

jr. member

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Since bitcoin is uncontrollable by government there are some group of people that are using it in illegal transactions. Maybe some uses it in illegal drugs or in terrorism. So maybe it some of the reasons why some government ban bitcoin to stop it.

Wingo

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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 increasing popularity of a decentralized currency also poses a risk for the economy especially for the people who are free (without the presence of a regulation) to get into the scene of the crypto world especially if they don't have enough knowledge about it. The government's role is to protect the people, a reason why they regulate the presence or the exchange or usage of cryptocurrencies.

Buttercup123

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It is not as bad as you think. Bitcoin if exchage to fiat makes a bank within a place loose a lot of money for which they don't hold the bitcoin, so they usually don't hold the bitcoin but the exchanger before them. So, the bank clearly has no profit in return and usually loose some holdings or asset. The echanger like in our country, the 'coins.ph', holds the btc we converted so if the btc price increases, they earn a lot in return.

Senja Kemuning

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Many governments are afraid that bitcoin is allowed or legalized will make the economic system and transactions to be chaotic, of course it is difficult to accept if bitcoin prices rise up to thousands of dollars per day and this will make commodity prices become irregular.

Noilee

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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.

ace4549

sr. member

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I think the reason why do some government ban bitcoin is because of people and the system that they have.
Many people consider cash-based system and not technologically advanced through this they cannot afford to accept bitcoin in their country in order to protect the people and the business itself also.

aeternus

sr. member

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Quote from: nakauten on January 06, 2018, 02:05:49 PM

Because its a big threat to the banks which are getting a lot of taxes,they are centralized and crypto is decentralized.

Banks do not get taxes, that is what governments get, but they both have problems with bitcoin, banks are in trouble since bitcoin is able to get them out of the business of banking forever and governments have a big problem with bitcoin since that allows people to not use their fiat and allows them complete freedom of their control and that is something they do not like.

simplicio

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I think the reason is clear.
They are not ready to accept Bitcoin.

cl37007

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Governments don't like what they cannot control simple as that. Very difficult to tax something you can't track to a specific person as Wallet addresses are anonymous

Tilim@Tilim

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Fast, Smart, Trustworthy

If it's never cashed in for FIAT CASH, it can't be taxed. UNTIL it's in a bank account. Crypto is about decentralization and taking down the bank.

acener

full member

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★Bitvest.io★ Play Plinko or Invest!

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.

I think that those government who ban bitcoin feel threatened about what bitcoin can do in their country, specifically the financial stuff and economy. This actually a common initial reaction to something that they haven't tried and fully understand yet. I mean even people who don't belong with the government officials will feel the same way when they'll first hear it.

Winterizing

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(｡◕‿◕｡)

The reason why the bitcoin is banned in some countries is because bitcoin isn't hold by banks and there's no tax can be put into it because it's decentralized. Some governments also thinks of bitcoin as a bad thing because they thought it is just only used for buying drugs and buying illegal things.

SpearTackle

full member

Activity: 153

Merit: 100

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.

They banned bitcoin because the banks cannot regulate the money, the government are afraid that maybe one day they will face bankruptcy. But I don't see any wrong about bitcoin, it is just prone from hackers.

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