Why do some government ban bitcoin? - page 30.

Invester

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Quote from: a-zi on January 11, 2018, 12:10:02 AM

Banning is not the goal, taking control is goal

This post may be coming from a newbie account here but I would say this is the very point of the government that are banning Bitcoin in their respective countries. Governments do not just ban easily. They do not just ban something which is like Bitcoin--having the backing of the people, being traded worldwide with Billions of USD in 24-hour volume, and even much bigger market value, being used and utilized worldwide. They just want this to be controlled. The problem is that they cannot do that so they ended up banning it.

hgkcoin

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Because of the loopholes in Bitcoin transactions, it is easy for criminals to use and government regulation can not keep pace, so some countries simply ban it.

Jessica2009

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Bitcoin is a digital, decentralized currency people can trade directly with each other without the help of a middleman. The transaction of money can be done globally, free of cost so government and banks fear about bitcoin; during transaction through bank they impose a fees from the people that will be more for the ordinary people . Also government fear that Bitcoin will be used for illegal activities such as drug dealings etc;.This brings anxiety to people that government will ban Bitcoin.

napi

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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 possibility of the government banning bitcoin transactions because bitcoin has transactions that are completely open and everyone can see the transaction, if the government prohibits bitcoin transactions it seems the government is afraid of being unable to launder money or corrupt.

Bittoshi

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Quote from: tikong on January 11, 2018, 12:11:14 AM

These are based on my opinion. Bitcoin is banned to some countries because the government believe that bitcoin is used to buy illigal things. Also they ban bitcoin because they cannot control it, they cannot put tax on it, another reason is because bitcoin is to unstable, its price suddenly goes up and down. These are my opinions why bitcoin are banned in some countries.

I agree to this. they want to control everything. And using Bitcoin for secret transactions is not acceptable for most governments. This is the main reason they ban it. Like South Korea now want to ban all cryptos.

guxu219

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Quote from: simonbakla02 on January 06, 2018, 07:33:11 AM

Because it has no tax and it's dangerouse because it has high possibility that will destroy the banks right now.

BITCOIN does have tax though? It’s harder to track but unless you only buy using cryptocurrency all day and don’t convert to fiat you WILL be taxed for using BITCOIN and that cant be changed.

macchiato

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Maybe because it is decentralized and a lot of transactions, including illegal ones, are out of their control. Scams and illegal matters may harm their people specifically those who do not have enough knowledge. Banning it in their country will increase security and protection for its people.

ted.jasmine

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Central bank cannot control it, then it cannot be the legal payment.

dvillier

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I think you are wrong that some government ban bitcoin.? But according to my search there is only one country that Ban BTC in their country and that is CHINA. And it depend on the rules and regulation and future ideas of government that what are their plan so according to their plan they are taking steps. But banning BTC in country is not good step according to my knowledge because through this country can get money from other countries and this will make strong countries economically.

bitcoinorcash

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Bitcoin has no centre to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins. If there we to block all the websites that people can download Bitcoin wallets from, new ones will come up and some people will compile their own wallets from source code - Bitcoin is like Bittorrent is that respect.

tikong

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These are based on my opinion. Bitcoin is banned to some countries because the government believe that bitcoin is used to buy illigal things. Also they ban bitcoin because they cannot control it, they cannot put tax on it, another reason is because bitcoin is to unstable, its price suddenly goes up and down. These are my opinions why bitcoin are banned in some countries.

a-zi

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Banning is not the goal, taking control is goal

ignacio0404

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Some government ban bitcoin, because they haven't seen the security of it. Some of the campaigns other people joined are scams so maybe they heard of it. Or they just don't want another internet work freeze.

jkinit2125

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Many arguments have been accumulated through the years because of the topic banning of bitcoin to some government countries around the world. Why? The thing is bitcoin has good benefits and bad also. But countries who banned bitcoin such maybe do not knew the benefits or it or maybe has projected the benefit it could get to their people but not in the government itself. Why? Maybe because in a regulated country, their government lives because of what we called the life blood of government. The tax, every goods has been taxed by the government to unable to acquire funds for future purposes or projects for the benefit of the people they serve. But with bitcoin, people earned money and increases their purchasing power thus without charging them with tax. Somehow it is correlated in being in the underground economy. Government ain't controlled bitcoin because it is decentralized, so what they do is to restrict people from using bitcoin as a source of earning.

Nivir

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Op mentioning Bitcoin as a possible spyware is impossible. Perhaps ZEC is as I highly doubt that coin. Anyway, I see most people defending Bitcoin (which I would do too) so I am thinking on how to intercept criminals using Bitcoin then?

gundala

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Every government must have a reason why it does not legalize bitcoin. Most of them prohibit the use of bitcoin as a means of payment, this is related to the sovereignty of the independence of currency in their country. Another reason is to maintain the economic stability of the country, and to prevent the use of bitcoin as a criminal tool because the government does not supervise and control it.

obinine

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Quote from: snipetr on January 06, 2018, 05:54:10 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.

Bitcoin banned by some governments because they don't have control over it. And may be they consider it as threat to banking systems. Governments afraid about bitcoins high value and its challenges to banking systems. The transactions taken place for cryptocurrency are anonymous so flow can't be trapped, thats affect income tax and this is main reason behind banning bitcoin.

Biggest reason to an BITCOIN and other cryptocurrency is the government fear of losing control over their citizens. Governments need to really step up their game if they want people’s trust

morrisby25

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Quote from: lunaalthea on January 06, 2018, 05:48:20 AM

Bitcoin is not bad. Just like money, they say it is the root of all evil but it's not. Bitcoin can be a tool for crime bit it can also become a tool for better things too. It is up to users of bitcoin on where are they gonna use it. On the other hand, I do believe that government is against bitcoin because they cannot control it.

“they say it is the root of all evil but it's not” but by that logic even fiat is the root of all evil as all these years criminals were doing crime to earn more and more fiat

rontoberth

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For the simple reason that in the future they will not have to tie us up and close our eyes to be the leaders, because the singularity is coming.

mejalipat

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some governments ban bitcoin because they think bitcoin may be dangerous and can make people lose money so it would be harmful but I think the bitcoiner already know the risks that will happen and they should also be ready with any risk

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