Its quite obvious to all that banks generally charge fees for doing anything with money, even just holding on to it. That's because the banks have created a level of trust that transactions pass smoothly and everything is recorded and accounted for correctly.
But bitcoin as a currency is digital it is open to being copied and spent more than once - something banks stop with physical currency.It enables one digital wallet (that can be stored on a phone) to directly connect with another securely and process a transaction.As such, it removes the need for any kind of traditional bank or regulator.
Hence, banks aren't happy about being made obsolete and with help from governments they will do all they can to clamp down on cryptocurrency.
Topic: Why do some government ban bitcoin? - page 36. (Read 12625 times)
Some countries have banned bikoyun because it could affect their state income tax, and could also affect economic services.
They believe that banks no longer have the power, and this will be a change in bitcoins
They believe that banks no longer have the power, and this will be a change in bitcoins
They are banning it because people will boycott banking services and the banks are the ones that will push their authority and rights to be used by the people or else they will not contribute to pay higher tax. But other countries are banning bitcoin as they are only looking on it's bad side.
Because people need btc and they are very confident in using it so they are having to much demand in it, but it doesnt mean that there is no effect, the effect is the people that use btc for illegal, they earn it much and use it for criminalities and for drugs and other uses, or sometimes it is over use and the currency is nearly replaced
I think the government always decide what is the best from the both parties and make decision neutrally and free from bias.
The government banned bitcoin because they are not yet ready for that opportunity since they are not capable off. In this case they protect also the future of bitcoin from their country.
The government banned bitcoin because they are not yet ready for that opportunity since they are not capable off. In this case they protect also the future of bitcoin from their country.
Some countries have banned bikoyun because it could affect their state income tax, and could also affect economic services.
They believe that banks no longer have the power, and this will be a change in bitcoins
They believe that banks no longer have the power, and this will be a change in bitcoins
Bitcoin is way of financial benefits not only for ordinary people but for states also. In some authoritarian countries like Iran, Russia or Venezuela cryptocurrencies were forced to get under government control for state interests.
In Venezuela cryptocurrencies are not under the control of the government that have banned them with the excuse they are destabilizing the government when it is the government itself the one that destabilizes everything and now they are trying to blame external actors for their misfortune but of course that is not going to be able to work for the long term since at some point that government is going to fail. Bitcoin is not yet legal to all the country. Some government ban bitcoins.bitcoin is not bad at all.they think there are some instancs where bitcoin is being used for some illegal transactions. Bitcoin is that it's heavily used laundering and crimes this why they ban it.not really bitcoin being uncontrollable by banks and the government. They think it being used in illegal activities.
It is reality that some countries still not adopted Bitcoin. Even that some governments ban Bitcoin. I think they do this because of they are afraid of Bitcoin’s popularity. The peoples of their country will go crazy when they start buying Bitcoin. So is may be a threat for their own currency. Bitcoin is independent digital currency, so it not under the control of government that is not bearable by some government that’s why they ban it. 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.
First of all, nowadays, bitcoin has a really big amount and maybe thats one of the factor that government sees to ban bitcoin. Maybe it can lead to certain corruptions and also illegal transactions that the government may not know.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.
Certain countries ban bitcoins because they cant handle it maybe because of the state of their technology like internet speed and also the computers in their country. Also, not all countries are aware with bitcoins, some are still confused of what it can do and what its value is.
I think the reason behind why do government banned bitcoin in their country is they not capable enough to adopt this king of opportunity.
The government always protect the both rights of the both parties and I think that is reason why they do it since most of the countries are not yet develop and civilized.
The government always protect the both rights of the both parties and I think that is reason why they do it since most of the countries are not yet develop and civilized.
Let's give an example. Vietnam's government banend Bitcoin just like what China did. Vietnam and China has their own reasons on why they are doing or implementing these kind of rules in their country. Actually not only the bitcoin was banned but also some of the other virtual currency. The reason why they banned it because people used bitcoin and other virtual currency for buying or selling or having a transaction and that is out of their law. So that, they prohibited the usage of these currencies in payment transactions. If we are going to talk about it generally, there are banks that was run by government and banks' function is to become the middle man of any transaction or trading. Since bitcoin and other decentralized cryptocurrency doesn't need that, they are scared that someday, banks will be gone.
Not all could be pleased by how bitcoin works specially a government with a communism type.
They take money from the people and a lot goes to them. Now, if that is the case then bitcoin is like an illegal currency since they cannot take anything from one person.
It is like money laundering already or keeping something from your own government and that is jail time.
They take money from the people and a lot goes to them. Now, if that is the case then bitcoin is like an illegal currency since they cannot take anything from one person.
It is like money laundering already or keeping something from your own government and that is jail time.
I think some government ban bitcoin because some peoples make misuse of bitcoin like in China ban some exchanges which are not register legally and make illegal transactions.
I think the reason why there are countries that ban bitcoin because, the country wants to take advantage in bitcoin (tax)
but because bitcoin stands on its own, it does not depend on any bank so the government forbids it
but it will not inhibit bitcoin to continue growing later, and in the future
Precisely with the tax, this will greatly help our country. if a country already legalize bitcoin then the country can apply the system to use bitcoin.but because bitcoin stands on its own, it does not depend on any bank so the government forbids it
but it will not inhibit bitcoin to continue growing later, and in the future
Transaction, sale and purchase of assets that can be monitored thus reducing crime presentation.
Govt of some countries like Nepal, Morroco or Bangladesh banned BTC because they fear that it may create a parallel economy in their country. Politicians and govt. officials fear that if something like this happens, then politicians will lose their power.
Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
Yeah some countries responded on bitcoin usage as a threat of criminal activity, they think people could use Bitcoin as terrorists funding way , drugs sale etc. and there's an urgency for them to regulate it soon due bitcoin popularity nowadays increased massively.Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
Use KYC to verify account of user and this is requirement for any user, I think this is the best solution for currently.
Any government fears anything that it can not control, also, no government is really democratic enough to give people the total control. In Bitcoin, the central bank is just a joke, so when any government sees that Bitcoin is kicking their central bank Dracula out of business, it fears Bitcoin.
Govt of some countries like Nepal, Morroco or Bangladesh banned BTC because they fear that it may create a parallel economy in their country. Politicians and govt. officials fear that if something like this happens, then politicians will lose their power.
Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
Yeah some countries responded on bitcoin usage as a threat of criminal activity, they think people could use Bitcoin as terrorists funding way , drugs sale etc. and there's an urgency for them to regulate it soon due bitcoin popularity nowadays increased massively. Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
In my own opinion, that's maybe because they think that it can affect their economic growth because bitcoin is decentralized at can be a perfect tool for money laundering and any other illicit activities.
Some countries think of the government,Bitcoin takes the country's money to another country. Moreover, the government can not take any benefit from transaction of bitcoin.the government can not meet the financial system if the country.
Govt of some countries like Nepal, Morroco or Bangladesh banned BTC because they fear that it may create a parallel economy in their country. Politicians and govt. officials fear that if something like this happens, then politicians will lose their power.
Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
Moreover, BTC features like anonymity and decentralized is also the main reason for its ban, as govt. fear that it may increase the illegal activity in their country so as a precautionary action they just BANNED it.
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.
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 would say that probably they see Bitcoin as a threat. They see it as a threat to their monetary currency and they just hate the idea of welcoming a popular decentralized digital currency. With that, they don't want any transaction payments with bitcoin. Because they're not open about the idea and the whole thing about BTC, they banned it.
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