Some government ban bitcoin,because different countries have their own laws, laws regarding the banning of bitcoin,they consider it an illegal and threat to some central bank in their country.
Only a few countries disagree with cryptocurrencies and these are the following Thailand, China, Taiwan, India, Germany, Bolivia, and Russia.
Topic: Why do some government ban bitcoin? - page 48. (Read 12625 times)
Government may ban bitcoin in some countries, with the mind of controlling internet fraud. Records and reports of the rate of increasing fraudster is so alarming in some countries that the government has believed any concept of making money from the internet is all about fraud. So, they feel they can curtail that by banning it. Most especially in many government that doesn't know what bitcoin is all about. How to derive tax from the users may also be a challenging factor to them.
Yes, it is true. because the government can not control bitcoin. in addition, because bitcoin is associated with the bubble phenomenon and is easy to serve as a tool for committing crimes such as the illegal sale of weapons, drugs, etc.
I think it's because of its independence as the government doesn't have the control over the transactions.
of course...no government is profitable for the people to make a profit, and the government was left out...and in the end it can undermine the economy...they keep their hands on the pulse...they won't allow bitcoin to cross a certain border
Government has been relying on tax to growth its own economy. Though tax, it is able to maintain the country and provide infrastructure and government services like schools and roads and buildings. With bitcoin, it does really pose a risk for the government.
True, governments wants you to pay your taxes, because sometimes they need that money for doing things for like roads and stuff. If i was the government and i saw you not paying taxes with btc.
I would surely do something about it. Maybe even disabling bitcoin for a limited time to make them scared, but we are lucky that they are not doing this.
In my own opinion, the government always make decision in accordance of the law. They always think what is best for their fellowmen. Some countries banned bitcoin not just because of they think it’s illegal but they know that their country is not yet capable for that opportunity. Many countries are not yet ready because they are civilize and lack of knowledge about the technology. Through this they cannot easily adopt the concept of electronic banking. The company and the people will suffer at the end, so that the government provide a law to protect each other.
My supposition is the reason the government bans BTC in light of the fact that the national bank is one reason envision if BTC is approved by the legislature there will be what number of banks will be shut and what number of thousands of banks are let go.Moreover there are numerous different variables why BTC is restricted by the administration BTC has not been acknowledged by the majority of the overall population
One reason I think is because of its anonymity. Nowadays, bitcoin has been used in criminal activities and we can't stop them. The problem is because the transactions of bitcoin in the blockchain is purely anonymous, the government can't track who transact this and who transact that so they can't find who are the criminals so illegal activities will arise in their country.
Some of the government officials are simply naive about the advantages of bitcoin, whereas, some of the greedy official who knows how wealthy her citizens (especially the youth) will be, will always want to stop bitcoin probably due to the fear that they might have a wealth bitcoiner that will contest against their elective positions.
because it is out control of central bank and not depeond on $ or gold or oil
This could be the reason, every government leader seems to be working for their personal interest and Btc might not need any government to thrive on.
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 government banned bitcoin because they think that bitcoin will used by the criminals to have an information to some country so they banned it to stop having any transaction anymore in criminals.I think also that they are afraid that crypto currency can destroy the banking system of their country.And the one thing is all the bitcoin user is anonymous so if the one the bitcoin user will commit crime they can't know who commit that crime so they banned 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.
Because bitcoin is decentralized so even the government cannot interfere with it, So the only thing the government can do is to ban bitcoin. And they can't put taxes in bitcoin because bitcoin its transaction is anonymous.
because their cakes are divided by bitcoin
The selfishness of some governments has made bitcoin impossible for people in their countries to use. Its value is quite high. It does not belong to the bank and protects the law of the country. Offenders can take advantage of this to gamble or commit crimes. And the government did not benefit from bitcoin either
Government may ban bitcoin in some countries, with the mind of controlling internet fraud. Records and reports of the rate of increasing fraudster is so alarming in some countries that the government has believed any concept of making money from the internet is all about fraud. So, they feel they can curtail that by banning it. Most especially in many government that doesn't know what bitcoin is all about. How to derive tax from the users may also be a challenging factor to them.
In addition, some economists assume that this very high price increase is a bubble phenomenon that can explode anytime whenever its value is not as big as the price in the market.
in addition, its anonymous and easy to serve as a tool for committing crimes has a major impact on the rejection of some countries.
Government may ban bitcoin in some countries, with the mind of controlling internet fraud. Records and reports of the rate of increasing fraudster is so alarming in some countries that the government has believed any concept of making money from the internet is all about fraud. So, they feel they can curtail that by banning it. Most especially in many government that doesn't know what bitcoin is all about. How to derive tax from the users may also be a challenging factor to them.
Government has been relying on tax to growth its own economy. Though tax, it is able to maintain the country and provide infrastructure and government services like schools and roads and buildings. With bitcoin, it does really pose a risk for the government.
They want to control eveything what is going on in the land, and in your country you must pay taxes. So i think that they want to put taxes in to Bitcoin.
Some also ban because they don't want people to go use coins.
Some also ban because they don't want people to go use coins.
In my opinion, some government ban bitcoin. Because to their laws, jurisdiction and identity. Some users use bitcoin, to do there illegal work, buying drags and smuggle materials and many way more.
Ban of region cannot stop the progress and bitcoin had proved this thing in past that it is unstoppable and same thing will be continued and the regions which are banning bitcoin they will regret on their decision because bitcoin is the leading way toward the development and progress and banning it means that government is cutting off that bridge bitcoin is not depending on the regions but regions are depending.I guess in near future, bitcoin will evolve more then governments will start approving it or at least start staying neutral and will ask people to act at their responsibilities.
Governments can not control the crypto currency and they want to ban it. They are afraid that the crypto currency can destroy the banking system and people themselves will manage their money.
That is the main reason for the current government. they assume that Bitcoin is too dangerous and risky if it decreases significantly. the fact that it can happen because it could be when the price of Bitcoin decreased then there is economic chaos in their country because most people who use Bitcoin will lose. This is a risk, but if we control it and there is a regulation from many governments in the world then I believe Bitcoin can be much more stable. It all depends on us whether Bitcoin wants to be legally accepted or not and proceeds as it is today. We must do support by continuing to use Bitcoin in our lives. This will all make Bitcoin much better and more valuable in the future. Jump to: