Every technology has some negative site
At first we need to think what are the benefit of a technology. If the benefit is much and more than negative site people can easily take this technology vastly. Usually bitcoim has no negative site as much if you don't use it roughly. Actually I think every government should have try to get the benefits of cryptocurrency. And then they will got everything. Actually bitcoin and digital currency are the great innovation of the modern era. Why the digital world will not get in touch for banned it by government. I think the government of any who are banning cryptocurrency should try to analyse it and can try. I think they will get a lots of positive things. I think if you think about bad site it just using in criminality. I think that would not be much. So that we just need to accept of the usefulness except the bad site. I hope in near future no other government will banned bitcoin if they get it well.
Topic: Why do some government ban bitcoin? - page 38. (Read 12625 times)
No, by using bitcoin spyware cannot be done because bitcoins works on decentralized network. That means no one can control and see the bitcoin transactions. The reason behind the ban can be its illegal use and use in crimes as well as if it is not used in wrong things then also government will not be able to collect the taxes on the transactions.
I think the reason behind the ban is misusing of bitcoins.There's some disadvantage of bitcoins.Most of people us it in porn sites, dealing with drug and money laundering.Also people trade with bitcoins which hard to trace for government
Governments ban bitcoins because it can't be regulated yet. BTC has big capitalization for any country in the world so governments can not miss it
I think the reason behind the ban is misusing of bitcoins.There's some disadvantage of bitcoins.Most of people us it in porn sites, dealing with drug and money laundering.Also people trade with bitcoins which hard to trace for government
Fiat or government backed money is being used widely for this - porn sites, dealing with drug and money laundering.
The thing is, bitcoin and the rest of the cryptocurrency market is decentralized, and is now a very powerful tool to redistribute wealth to the masses. Money equates to crowdcontrol and the goverment feels that they will lose this control if wealth is distributed.
One of the reasons I think is because of its anonymity. Currently, bitcoin has been used in criminal activity and we can not stop it. The problem is that bitcoin transactions in the blockchain are purely anonymous, the government can not trace who's transacting and who's transacting so they can not find criminals so illegal activity will show up in their country.
The government know what they know about bitcoin thanks to their " expert " so it's quite normal they can't understand what it is. Moreover the states can think that the bitcoin will limit their power. They can also think that people gonna fraud and don't say to the government all their earnings. Your question is large and i think that there are many reasons and it can be different according to the countries.
because they are still discovering how to control it in the market because bitcoin can really cause a disruptive change in the industry and economy also to some criminal activity that some person can take advantage on how good the technology of bitcoin some can abuse it for their own benefit like money laundering and some illegal transactions in the black market
I can not explain in detail why some countries ban bitcoins. But I can answer the outline of why some countries ban bitcoin.
The reason;
1. The state worries if bitcoin is abused.
2. The state is not ready with what technology is given bitcoin.
3. The state worries if bitcoin is legalized can be bad for the official currency.
The reason;
1. The state worries if bitcoin is abused.
2. The state is not ready with what technology is given bitcoin.
3. The state worries if bitcoin is legalized can be bad for the official currency.
Government are clans that agonized sensation to discharge loyalty attainment. And they get lack to share their proficiency along with than anyone. Do you think that blockchain can replace these non in force governments in the sophisticated ?
Because some say bitcoin is bad no one can track you, bitcoin used to buy drugs and smoke.
bitcoin is great technology and it’s bad to used it for dark things
bitcoin is great technology and it’s bad to used it for dark things
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 bitcoin really that bad? To banned by other countries?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.
For some country yes bitcoin is bad for their economic system, if people in one country invest in bitcoin and not in bank then it was a huge loss for the profit of a bank because people investments are the fuel for banking system so if that happens the countries economic system is affected.
Do the other government in other countries see something bad?
Not all government unlike other countries bitcoin is not that papular so the government doesn't care unlike to those other countries that 80% of the people are using bitcoin.
Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.
Yes, it is possible, but bitcoin user is hard to track because it was anonymous and lack of information about its user, that is why people use bitcoin for their
illegal transactions that is related to crime. If the Spyware is the problem then you must be careful change your password every month and install an antivirus to be safe.
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.
Bitcoin will never be bad in fact it helps many people to make their lives easier like payment of monthly bills e.g. water, electricity, telephone, etc. without any hassle and no charges.
In some country, they don't allow Bitcoin because it is very risky and not yet regulated. Government must implement rules and regulations for the security of Bitcoin traders.
Lastly, Bitcoin was created for destruction but for helping out many people, aside for payments but also for investing money to Bitcoin and other Cryptocurrencies to earn additional income. So, don't be afraid to invest and look at the brighter side of it.
the government bans for fear of disturbing the stability of currency values in the country, and also fearing the threat of shifting currency in the country, bitcoin is also very difficult to track. so therefore the government sees bitcoin as a dangerous threat.
When you lose over the money people in your country manage... when you cannot see what their doing... yay just the ban hammer appears.
That the way corruption works, nothing new in the world is used since day 1.
That the way corruption works, nothing new in the world is used since day 1.
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.
Governments doesn't allow bitcoin because they are afraid that it would be used by terrorists to conquer them and rule their economy and finances. Bitcoin is not bad, the person who uses it is the problem about how he will use it.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 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 don't think that is really the reason why governments ban bitcoins in their country maybe they don't just want to left by bitcoins because if they legalize bitcoin their currency will decrease its production because many people will choose bitcoins over fiat. 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.
Because they think that bitcoin is bad for the economies of governement...auther ban it because bitcoin is under their control
Other countries ban bitcoin considering their bank regulatory issues while others restrict the use of bitcoin due money loundering.
Despite of having enormous benefits, government of few countries has banned cryptocurrency, they too have their own reasons for imposing ban on the use of cryptocurrency. Being not under the control of government, government has no control over the BTC and so they cannot say for the tax to cryptocurrency, or for not being under the control of government, BTC could be use for few criminal activities like terrorism, Ransom killing and others also, so also these things put country's security in danger. These might be some reasons that made government to ban cryptocurrency in their currency.
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.
On my opinion I think some government's impression about bitcoin is that it's heavily used in money laundering and crimes that's why they ban it. It's not really bitcoin being uncontrollable by banks and the government, but because of it being used in illegal activities more often than cash. And some countries do not allow the use of bitcoin because they have no way of controlling and tracing it, they cannot put any tax on it plus it can be used in illegal activities, they are afraid that their citizen might use it on illegal transaction once they knew about it. But I also agree on your opinion that, 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.
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