It is basically because its operations threatens the economy of many nations. Because bitcoin doesn't tax and government generates income through tax s they do not want the existence of any currency or program that will interrupt their operations. And the control of bitcoin is not in the hand of any country or body(ies) so, nations do not like what they cannot control.
Topic: Why do some government ban bitcoin? - page 3. (Read 12625 times)
If the country's government bans Bitcoin, they may think that Bitcoin is being used for any illegal purpose. And if it turns out, it may lead to damage to the main currency of their country. And banks may lose their control because they are not owned by them alone. And they think they will not be able to control it, they will ban Bitcoin in their country.
The state bank has confirmed that bitcoin and other similar virtual currencies are not legal means of payment. The issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited behavior. They argue that it is not controlled by any organization, which will corrupt the finances.
Because the government does not like that bitcoin passes by the side of the tax system
Some government ban bitcoin because they do not have control over it. No policies, rules and regulations. It has not been recognised as a legal entity. It has not been recognised as a means for exchange (trading, buying and selling) of goods and services
I think some government banned bitcoin because they don't even get a tax on it. There's no implemented law that the government can get a tax on it.
By this, I think they saw bitcoin as a stupid thing especially that it cannot be seen by the human.
By this, I think they saw bitcoin as a stupid thing especially that it cannot be seen by the human.
A few governments, for example, China, have so far just attempted to restrict the cryptographic money in their nations, however nothing has transpired yet. To date, no nation on the planet has restricted the dissemination of digital money in their nation. A few states see that the money moves through the digital currency are gone and nations are attempting to anticipate it. Notwithstanding, nobody has yet prevailing with regards to halting the digital money.
Banning bitcoin does not mean they are illegl it just that not all countries are well develop and civilize to afford this king of opportunity.
I think the governments want to control the blockchain so that they will collect tax but blockchain is decentralized which has made it impossible for them. Any thing government do not control they will destroy that same thing. They are claiming to protect their citizenry from being scammed during ICO.
They don't still have a way to control it that is why there are countries do not want bitcoin to have a place in their community. They have power to do such action because big business men are with them.
i think the reason why some countries ban bitcoin because bitcoin cant detect or trace when use in transaction by governments therefore they cant taxed it and more people tend to use that type of transaction since it free tax so it could be a problem for government for their income. and also since it cant be traced it can be use for wrongdoings maybe these coins can be use in blackmarket. these are just my idea
Yes, the government of some countries has banned the transaction of bitcoin in their country. I think there is a lack of information about them in Bitcoin. And they think that if Bitcoin is the transaction in their country then it can cause economic harm to their country. Which I think is a complete misconception. We hope that countries which have banned the Bitcoin will take this ban very quickly.
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. For them, bitcoin has bad effects.By the way, I know why stopping bitcoins. It is because you can save money on it and that's a violation of the government policy. And another is the destruction of the banks. Because no one is interested in getting money here. Because bitcoins are better. Banks may fall and lose. So one of the government's restraints. So here we are the Exchanger Company is very much stating when it comes to releasing our money on bitcoins. So all of our transactions are in the document and if you have a large amount of funds you can investigate them in the office and find out where this is going. So it's very hassle to use bitcoins with us and we are not free to accumulate bitcoins.
some countries do not allow people to use bitcoin because in that country bitcoin is still illegal, the government forbids bitcoin because they think the bitcoin is anonymous and its movements are unstable and could disrupt the economy in government.
I think the reason that y bitcoin being ban by some government maybe due to the risk of fraud and the money laundering. Also there might be some parties use bitcoins to do bad things because it doesn't show real identical, thus hard to trace.
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. For them, bitcoin has bad effects.
Many government ban bitcoin in their respective countries. And many agenda behind this is an country financial and economy value. Many government afraid Bitcoin like cryptocoin. Because of Bitcoin people less use an country own currency abd this thing affect their country economic. Many Bitcoin user use bitcoin banking facilities instead of their country own bank facilities which also affect an country economy. Bitcoin is also associated with many criminal activity like kidnapping murdering child pronography etc. These are happen due to untraceable money transaction facility given by Bitcoin. 
Some governments, such as China, have so far only tried to prohibit the crypto currency in their countries, but nothing has happened to them yet. To date, no country in the world has banned the circulation of crypto currency in their country. Some states see that the cash flows through the crypto currency are gone and countries are trying to prevent it. However, no one has yet succeeded in stopping the crypto currency.
I think which countries have less control over tax system they ban the bitcoin. May be they think that if they can't collect tax from public then better to ban it.
Because bitcoin is globally traded across all countries it is hard to control the transfer being made in one country, plus the taxes if there is any. I think they are still studying on how good or bad it may affect their country.
For some of, course look bad, especially when already in the category of money laundering. Perhaps certain countries forbid also because they have a suspicion of money laundering without learning it first. Most importantly, we are, remain optimistic and able to show that Bitcoin is not a bad thing.
Jump to: