Topic: Why do some government ban bitcoin? - page 35. (Read 12625 times)

Governments and laws are controlled by the central banks. Bitcoin is an anti-establishment revolution that has already solidified itself worldwide.

Bitcoin cannot be controlled. It cannot be banned. It cannot be made illegal. And conversely it cannot be legalized. It just simply is. And people can always use it.

Those trying to undermine and manipulate bitcoin stem from the central bank system around the world;
-the central banks dictate policy to all the operating big banks around the world and have essentially tried their best to ban bitcoin related transactions for more than four years straight, ever since 2013, and have failed at stopping bitcoin's growth, adoption, and popularity
-the central banks fund efforts to undermine bitcoin, providing plenty of capital and liquidity to private companies and venture backed groups such as Digital Currency Group (they own Coinbase, GDAX, Kraken, Bitpay, and media outlet Coindesk) and also Roger Ver/Bitmain to undermine and break the bitcoin protocol and/or manipulate trade

Above are just small examples.

First, educate yourself and then others. Please checkout the link to the bitcointalk post in my signature titled: How to teach Bitcoin to a 7 year old.

Bitcoin is a secure, decentralized, trustless and open system which cannot be banned nor controlled.
 
Bitcoin is ultimate store of value and its popularity has strengthened over time and maximizes value compared to any other altcoin...why?:
If it can be shutdown, and have assets frozen by a bank or government, there would be no value
If it wasn't secure, there would be no value.
If it wasn't immutable, there would be no value.
If it wasn't globally distributed, there would be no value.
If it wasn't so strong, open-source decentralized and unstoppable, there would be no value.
If it wasn't so scarce, there would be no value.
If it was easy to spam transactions, there would be no value
If it required a central 3rd party to function, there would be no value
If it was stopped after all major banks on Earth banned in 2013 to today, there would be no value. (say "bitcoin" when transacting and watch the block of the transaction. simple fix=never mention "bitcoin").
If it didn't have the history of 8+ years (and still no hacker can exploit bitcoin blockchain), there would be no value
If it was exactly like fiat and only did transactions, there would be no value.

Bitcoin's value is worth hundreds of billions USD today. Altcoins however are scams, weak, pyramid schemes not offering these values.

Bitcoin has all the characteristics needed combined to hold the most value and increasing more than any other financial-asset option coming from the manipulated fiat central-banking debt-system. (more than stocks, more than houses, more than gold)

Extra graphics to indicate the worldwide impact on the emergence of bitcoin in its infancy today:

Chart of performance of assets from Xmas 2014 to Dec 1. 2017 (in USD terms):
Bitcoin/USD
S&P 500 Stocks
Real Estate (REITs)
Gold
Bonds




Here are weekly peer-to-peer localbitcoins cash trade data for two random countries as time goes on. Right-most area is the most recent past week.

I am not sure about it. Some are saying that it is because Bitcoin is decentralized. Which means that governments don't have control tonit such as putting tax on every transactions also theybare said to be worried about the involvement of Bitcoin on illegal activities so maybe that is the main reason. But I am hoping thatbin the future, it will be legal world wide.

I think governmet have some fear from bitcoin, they thought about bitcoin is a illegal currency or some people use bitcoin for illegal work, but if every person use bitcoin for legal work so government will legalized bitcoin and its price will change everyone's life for their future because bitcoin is the best way to make everyone life comfortable.

now many issues that use bitcoin is an elegant that is not fully supported by the authorities, because there are illegal events and fear that its citizens will have the idea to use them for the same purpose.
hence the government prohibits the use of bitcoin by its citizens, many now use it to break the law and use it instead of a traceable payment option and therefore some media talk about bitcoin and crypto negativity.

The government certainly would not like it if they could not track your incomes and they would hate it so much if the citizens can able to find a way to avoid paying taxes. No wonder they banned Bitcoins or any other crypto currency. Think about a time when the offices start paying their employees through bitcoins. If that start happening in your country, do you think the government in your country would not ban bitcoins?

Some governments forbid bitcoin because they do not want the people of the country they use bitcoin. Bitcoin is digital money, the government can not control the number of users as well as can not tax and bitcoin. Not only that, more people use bitcoin, the benefits of the banks will be low.

I believe it is because of the reasons such as they cannot control it which bankers hate, mostly by the government. This makes them team up in finding a way to resolve their threat which is by closing the account of the user.

The reason it is banned by the government is that all the government wants that any business or capital which means income tax is taxed. If a business does not pay taxes to the government, then the government excludes that business. Since Bitcoin does not pay taxes to the government, it is not normal to give up. Although in some countries Bitcoin is allowing the government but there is no acceptance of Bitcoin in our country.

Some government ban bitcoin because bitcoin has no tax that is the reason why they ban it and also bitcoin is out of control of the central bank.They also say that bitcoin is being use by terrorist and druglords in their illegal transactions and they cant track it but to those people who earn bitcoin in a good way really want bitcoin to stay forever because it really helps the alot with regards to their financial problem.

It is because bitcoin could be use for an exchange to something to do some unlawful act. Bitcoin functions as money, and money can be for an exchange to kill, sex or drugs but money cannot buy life but can ensure you to survive. Thus, the same thing goes to bitcoin because it is also definitely a money through a virtual world. That is why government ban bitcoin because it can use to exchange something like that without getting notice by government, specially there are lot of people who uses technology so it is easy for them to do some transaction .

Bitcoin involves money. A real huge amount of money. And those things affect every country's economy in a huge way. Since the government can't regulate all of the transactions here, they will ban it. People who earn money in bitcoin don't pay taxes. And also, bitcoin can also be used for money laundering and some other things like scams that is very alarming for all the people who use it.

perhaps the government's fear of citizens using bitcoin for illegal activities once known to the state security authorities, so the government is afraid of its citizens to fall into the wrong path. but for me bitcoin is very good for use by citizens for its economic development, there must be guidance from the authorities in order not to use bitcoin. with the guidance that citizens will be better to organize the future and its economy.

Because due to the rise of bitcoin banks are becoming useless.  If a bank lose all its user then the bank would go bankrupt then the government will lose a sponsor for money that's why we are banned

I think it is because bitcoins are weakening their fiat money like Dollars. Bitcoin costs so much more than dollars. That's why government will ban these bitcoins to further stop the decline od the value of their money. What I also think is that the government hates trading in bitcoins for cash.

Absolutely if bitcoin will get in market and people will be aware of all features of bitcoin they will quit using banks and other investing and will get into bitcoin so it is the main reason for bitcoin banning in countries. In my country bitcoin is best investment right now a most of the people who are making money are trying bitcoin and in future it will get high place as high as real money in my country.

government still not sure about the impact of crypto currency on their economy, I think they are worrying about that crypto currencies will have bad effect on their economy therefore they are trying to bane bitcoin and othe rcrypto currencies. but i hope that very soon they will realize te need of crypto currencies and will change their decision about bitcoin and other crypto currenices and hopefully will turn bitcoin as legal currency.

Because they can't control bitcoin in any manner, some govs ban and others do taxes on it.

In my opinion, it is not the reason to make the government want to ban Bitcoin and cryptocurrency. Look at the volatility of Bitcoin in this month or the volatility of altcoin on the cryptocurrency market. In one week, some altcoins changed the value ~300% - 500%, it is crazy and has speculative nature.

I think some governments are not banning bitcoins, but the government has not just legalized bitcoin currency to use a legitimate transaction tool in the country, probably because its bitcoin value can not be affected by any country policy

I guess some countries banned bitcoin because they see it as a threat and some countries banned bitcoin just because they could not control it. Bitcoin is anonymous and those government cannot manage it. They banned bitcoin because of its anonymity, they think it is being used of bad people in thier evil deeds.