Put your self in the shoes of a person responsible to "control" financial things in your country then the answer becomes more clearer.
Bad points ( financial )
- high volatility makes them good way to make money ( too much money which is unaccounted for )
- it cannot be in a controlled environment.
Social points
-Increase in monetary gap of society
- normally money is inter convertible with power ( some countries ) hence can cause disturbances.
of course bit coins has much good points but unless the negative points cannot be countered it seems dangerous and it is banned.
even we must see the countries banning it so reasons can be even more clearer.
Topic: Why do some government ban bitcoin? - page 41. (Read 12625 times)
Because bitcoin is considered against the bank and also a decentralized bitcoin. Bitcoin is also not in taxes and the government is difficult to manage bitcoin. So the government has done a lot to eliminate bitcoin from a country but it is difficult. that's just my opinion.
According to me, some countries ban Bitcoins just because they don't get proper income tax, goods and service tax and many other tax . Due to undue payment of income tax the government face financial crises to run and develop their country .
Well, Bitcoin or cryptocurrencies in general represent money, and governments hate when they loose control over anything, especially when they loose control over money. So some governments that are scared are choosing to try to ban crypto. Stupid decision if you ask me.
Some Government ban bitcoin because they can't control it since its decentralize they won't be able to know how much a person is earning in bitcoin not unless the person will declare their earnings so they can't ask for tax to that person.
I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.
Correct, not all countries are going to ban bitcoin and those that do not are going to get incredible economic benefits since the investments in those countries and the tourism is going to go up, at some point the citizens on the countries were bitcoin is banned are going to begin to demand that bitcoin is legalized and are going to impose their will on the government. I just recently found out that my country banned bitcoin too.
Such a sad news, of course. In the article, i read that they do that because they think bitcoin is a harm, and will be a bad threat for the banks.
They also think bitcoin is unstable and hard to control, so we should not use that to transact and ask us to cash our bitcoin, which of course i refuse.
They have their own reasons, and mostly because they want to protect their.... 'own'? I'm not sure yet.
Such a sad news, of course. In the article, i read that they do that because they think bitcoin is a harm, and will be a bad threat for the banks.
They also think bitcoin is unstable and hard to control, so we should not use that to transact and ask us to cash our bitcoin, which of course i refuse.
They have their own reasons, and mostly because they want to protect their.... 'own'? I'm not sure yet.
They make you the prisoners of centralized banks, this is the idea of the governments. They can't let you be the part of a free economy created by bitcoin and blockchain system.
I think some governments ban bitcoin because they do not have established laws that can regulate its use within their jurisdiction.
I think the countries that ban Bitcoin and cryptocurrency are scared of loosing control over peoples money and therefore try to ban it. But what they dont understand is, that banning Crypto only leads them to misfortune and disadvantages over other countries that embrace the newly evolving technological developments. The countries that try to prevent this evolution of the financial sector from happening are backwarded and will sooner or later realize that they made a big mistake with their course.
Correct, not all countries are going to ban bitcoin and those that do not are going to get incredible economic benefits since the investments in those countries and the tourism is going to go up, at some point the citizens on the countries were bitcoin is banned are going to begin to demand that bitcoin is legalized and are going to impose their will on the government.
the government was told what bitcoin was and so on, but the government continued to call it bitcoin a threat to banks.
To be honest, I don't see the logic behind the government banning bitcoin. You can announce that bitcoin is banned in your country but you can't really ban it. It's in the same situation as other things that are banned. You see drugs are banned in most countries but there are still tons of drug addicts. Banning bitcoin is just as pointless as putting a bitcoin user in a jail. The guy's just trying to make some money from the Internet. I think the sole reason why some government are banning bitcoins is they are at least trying to lessen the hype of bitcoin in their country at least. If bitcoin becomes a thing in one country, their taxation will be much lower than how it is before but it can also still be a good thing for them because there's still tax whenever a person buys something.
Bitcoin is digital currency.it is out control of central bank.some government think,bitcoin threat for general banking and not under obligation of government.
Obviously because they cannot control it.
You can only regulate/steer things you can control.
Also, because of the deflationary nature of bitcoin you cannot print money out of think air, like with fiat.
You can only regulate/steer things you can control.
Also, because of the deflationary nature of bitcoin you cannot print money out of think air, like with fiat.
Because it becomes very much difficult for governments to audit transactions, and perform their obligations .Governments have to provide bitcoin infrastructure in their jurisdiction, so that they can keep the network going. Just like operating banks, it will cost a large sum of money.Governments can decentralize the infrastructure by franchising the process just like issuing licences to private banks.
Reason is simple, when our government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire planet.When a case is filed against Bitcoin, not the people transacting bitcoins, inside the jurisdiction, governments cannot be able to perform their legal obligation to the society.
It seems that it is important to look at the bad bit coin due to sudden price increases and security problems.
I See topics about banning and I want to ask.
Is bitcoin 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 other countries believe that the bitcoin is a scam, that's why they have not approved bitcoin in the other countries. But also in other countries, they want to approve bitcoin because bitcoin give hope many people. Is bitcoin 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.
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 is not bad nor banned, the only thing i see in bitcoin is that to all countries has there own ways, bitcoin can be banned if it is not legalized in a particular country, secondly government see's it as a threat to bank, and thirdly is uncontrolled by government, fourth they see it as a theft so this are the only things while bitcoin can be banned in some countries.
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 do not knownthe exact thing whybtheybare banning bitcoins maybe they are threatened by what bitcoins can do to their people because bitcoins value are rising that is why people are investing more in bitcoins rather than banks so the government can give it some taxes. Actually here in our country i think that the government are slowly banning bitcoins because they are saying that it is a scam in the public media which is not true bitcoins are legit. And second one the main bank disallowed the only bank that accept bitcoins into cash so how can we know get our money
Some governments ban Bitcoin because bitcoin is decentralized and not under their supervision. Government cannot track the transactions made through Bitcoin so they are not able to impose any regulation and boundation on it's use. Due to it's decentralized nature many people use it in dark web that's why some government's ban the use of Bitcoin.
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