Why do some government ban bitcoin? - page 42.

hh4mmm

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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.

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.

yanlap

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Quote from: arteezyy on December 05, 2017, 09:43:57 AM

I don't know what is the bad side about bitcoin. All I know is bitcoin is being banned because government can't control it and they can't issue taxes on transactions on bitcoin.

All the digital currencies are decentralized in nature which actually means that neither government nor some other entity can actually control the, the only intention behind banning bitcoin by most of the governments is that bitcoin is gaining lot of fame and it is impossible for bitcoin to take control over bitcoin. As they are unable to do that, so they are trying to ban usage of bitcoin in order to gain their tax.

godfrey123

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the government has a lot of reasons why they ban bitcoin, some reasons that they give is that bitcoin is being used criminal activities. But I think the reason why is that they cannot put a law about bitcoi, they cannot regulate it. and they cannot earn money.

andylioe78

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Some countries prohibit citizens from using it because the use of bitcoin has been used previously in illegal activities discovered by authorities and they are afraid that their citizens will have an idea to use it with the same purpose

nightxglow

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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.

ace4549

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The law always provide protection for both parties and I think that is the reason why they banned bitcoin.
Banning bitcoin does not mean they are illegl it just that not all countries are well develop and civilize to afford this king of opportunity.

Bugoy.koykoy

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I think why some government ban bitcoin because they won't be able collect taxes from it and also why bitcoin is banned because it is illegal in other country.

jumpercrypto

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My speculation and straightforward answer? It's because they won't be able to collect tax from it.

roy12875

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I think government ban bitcoin because some people use bitcoins to do illegal activities such as buy guns, drug...... then the city will have high crime rates. Second, Government think bitcoins may effect stock market, gold , bonds or something, but bitcoin is really attractive for me. Cheesy

Nyenyepogi

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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.

some govermets banned this is because they didnt believe in bitcoin the theory of some goverments about bitcoin is bitcoin is only a FRAUD so i think if all goveremnts not ban this btcoin maybe the value of bitcoin will going increase forever .

pranaja

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perhaps the reason the government forbids Bitcoin is that in the era of internet financial systems around the world, individual governments have no power and control to take action against decentralized coins like Bitcoin.

Jcabudx

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Bitcoin is banned by government in some country becuase bitcoin is not legal in other country. A scam.

reymartH

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Untraceable financial transactions using bitcoin facilitate crime activity. Drug trafficking, money laundering, tax evasion and other illegal and subversive activity all benefit from the ability to move money in untraceable ways.

Glorypaasa

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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.

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Some goverments hate bitcoin because they said that this bitcoin is like a scam or fraud to all people but i think some goverments banned this bitcoin because they have a fear of loosing all banks because the bitcoin is more good and better than bank.

ihsanskanzaone

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because bitcoin is considered a currency that can reduce the exchange rate of native currency in the country and bitcoin is not regulated by the government so that the government can not fully regulate the economy of its people and usually a country that fully regulates the state economy is a communist country so most communist countries strictly ban the use of bitcoin.

AimHigh

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Quote from: applenap on December 01, 2017, 12:01:19 AM

On my opinion, most governments are considering bitcoin as a threat basically because they cannot manipulate its value and cannot have any power over it at all. For any government, power over currency is important.

Yes exactly you are right even in my country not only ban the cryptocurrency but they gave or broadcast in the news that ignore and its all about negativity about bitcoin and absolitely you are right that they cannot manipulaye bitcoin or cryptocureency thats why they ban and not like in many banks that they can manipulate.

VINCEAKTN

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Virtual currencies are hard to control
In contrast to foreign currencies that can be exchanged value in money changer, because the issuance of foreign money is done by the central bank. While Bitcoin does not have a regulatory regulator.

Easy to use for fraud
For some people who understand the movement of Bitcoin, it could be a profitable investment. But for those who do not understand can be bandwagon and entrust the money to buy Bitcoin through any place so that there can be fraud.

Used for illegal transactions
Bitcoin transactions are difficult to trace. It is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.

nordical

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Quote from: Samsungnumbertwo09 on December 05, 2017, 09:19:59 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.

I think that goverments was afraid coz they thought that bitcoin is for buying illegal items or do some illegal activities and the bitcoin those not pay a tax.

I actually think that main issue for governments is tax. because they cannot get any tax from it, they want to ban it.

webdevmastery

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Governments are avoiding illegal transaction that will come in their country like buying of guns or drug laundering coming from the terrorist and bitcoins is capable of this kind of transactions that's why some of the countries are banning bitcoins.

zombie6

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Because they are afraid, they do not have control, but this ban will only provide temporary benefit to them, they will not be used by people who have not used the computer, younger and more advanced will lease VPS and proxy! and after some time all the others will catch up too! The government thereby wins time to try how to turn the situation in its direction!

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