Some countries banned bitcoin because it can affect their government income tax and it might also affect economical services.
They think that banks will no longer have power and it will be change into bitcoin.
Topic: Why do some government ban bitcoin? - page 56. (Read 12625 times)
My only humble opinion about this topic is that the usage of cryptocurrency is disclosing all transactions, which is not the most desirble thing for corruption goverments.
Yeah that’s the point but making check and balance will eliminate this possibility and more of it the governments that are banning it just because of this concern otherwise no other government is banning it because they all know that this coin is the symbol of development on the area and via this coin they can earn a lot of profit and the living standards of their citizens may also get changed and bitcoin owe it.
there are some specific reasons behind this issue, Firstly, Most of the government official don't have any clear information regarding Bitcoin, they have a superficial knowledge regarding this issue. so lacking knowledge is one of the main reason for banning Bitcoin. secondly, they think that Bitcoin system is suitable for the purpose of money laundering and naturally it is harmful to the economy. Finally, I think Government seems that Bitcoin is one of the great threat to the local economy and banking system that is why they don't like Bitcoin.
What i think is since they cannot regulate bitcoin.Some of them have excuses that it is being used to launder money or to purchase in the black market. We also have taxing issue with bitcoin. They also cannot control the price of it.
We may also encounter reason that out of this world since politicians are usually old and they do not understand the block chain technology. People usually fear what they do not know
This is scpeculation but it is possible that they will create their own coin.
I think countries just need to face the reality that no one can stop bitcoin. They need to adopt with new technologies.
We may also encounter reason that out of this world since politicians are usually old and they do not understand the block chain technology. People usually fear what they do not know
This is scpeculation but it is possible that they will create their own coin.
I think countries just need to face the reality that no one can stop bitcoin. They need to adopt with new technologies.
Because its not regulated. Governments cant collect taxes to bitcoin transactions. Thats the reason they ban it.
Well come countries fear the bitcoin and it's technology because it's not regulated and so on but this are just early phases , because sooner or later the govs will accept bitcoin no matter what. Also you can focus on other coins if your country don't allow btc. Also don't forget about bounties , you can click on my sign to find more.
I am agreeing with you that some government is afraid of Bitcoin and its technology. They feel that if they support Bitcoin or accept Bitcoin then their own currency will be vanished and Bitcoin will rule over there. Some countries or government banned Bitcoin because lack of information and benefits of Bitcoin. Their thinking is too much limited. I am very hopeful about them that very soon they understand the value of Bitcoin.
Many countries like china Bangladesh, Ecuador, Kyrgyzstan ban bitcoin. They declared it as a illegal thing. Their might be some reason here, which I guess it could be used for Anti money laundering . Bitcoin might be use by anti social person in different wrong ways like Different criminal activity, it can be used for buying hard drugs, child pronography, assassination market etc. Another reason is might be government wants to destabilise bitcoin, because if a person buying a lot of bitcoin and sell them all when its price is high, then the economic market probably crash.
Yes, it's really bitcoin. It is banned in some countries, because the government does not know how to take tax from it
i think that gov't have any idea about Bitcoin future. ok, i agree it's a cryptocurrency. what if gov't want they can open in his/her country. om lets come to the point
Actually what I can interpret is, it is not about bitcoin being good or bad is being the reason thaf governments are banning bitcoin. One of the reasons maybe that they don't want a type of Currency which they will have no control over getting used in the country by their people. Each and every government likes to keep their subjects and currencies in their control.
i don not know exactly.. but maybe government has a many reason so they ban bitcoin
but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
In our country bitcoin is not banned instead the central bank is making policy guide lines for virtual currency exchanges. It is the policy of the Central Bank to provide an environment that encourages financial innovation while at the same time ensure that it will not be used money laundering or terrorist financial activities and the financial system and financial consumer are adequately protected.but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
One of the biggest demerit due to which most govt are against bitcoin is it promotes illegal activities. Moreover it fosters lack of accountability. Not to count that its volatile and absolutely decentralized. Not demerits but these are a few things that governments dont like about bitcoin.
i don not know exactly.. but maybe government has a many reason so they ban bitcoin
but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
In our country bitcoin is not banned instead the central bank is making policy guide lines for virtual currency exchanges. It is the policy of the Central Bank to provide an environment that encourages financial innovation while at the same time ensure that it will not be used money laundering or terrorist financial activities and the financial system and financial consumer are adequately protected.but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
Anything the government can't regulate or control they will ban and come up with some silly excuse like it funds criminals like dubai has done recently.
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 think bitcoin banned by government because we all know that it don't have a tax. And they knew that bitcoin is dentralized. And government need taxes for their projects for their city. Therefore, they see bitcoin as bad thing to them. Government needs taxes, taxes from money, money from public service.
until now I still do not understand why in other countries .. maybe the government does not know the bitcoin fortune ... but maybe soon the government will know what bitcoin that does not harm any party ... hopefully
There were several factors or reasons why bitcoin is ban.. One of this was most of the countries were afraid that it might become source of funding for other illegal activities since it has higher value compare to the currencies theyre using. Also in bitcoin, marketing strategies is way different in the business community. We must admit thatince were using high technologies, its the fastest way to spread the news on the ads and marketing skills in every campaign or projects. Therefore, it will cause reduction on the marketing investment that pay taxes to the government.
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 there is any government of the world that has ban Bitcoin in recent time. But what am aware of is that ICO and local exchange activities was ban by China government and later they started working on how to regulate Bitcoin activities. Though, Bitcoin can be use for illegal activities like any other currency in the world and that is why some government are trying to regulate its activities. 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.
There are some specific reasons whose are responsible for this issue. Firstly, I want to say about the unfamiliar and rumour about Bitcoin, I believe that most of the Government official don't know about this system. so lacking knowledge is one of the major barriers of this point. Secondly, Government official thinks that Bitcoin is using for the purpose of money laundering but they don't have any clear information about Bitcoin. and Finally, I think government considers Bitcoin as a threat to a banking system.
That's true, several governments have a negative approach over bitcoin based on the scams and other illegal activities taking place with bitcoin. Same time few countries have been making a long research to use it in a better way. Some has already implemented it, maybe looking the growth of the countries that have already adopted bitcoin other countries too will adopt in future to grow good in economy. 
i don not know exactly.. but maybe government has a many reason so they ban bitcoin
but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
In our country bitcoin is not banned instead the central bank is making policy guide lines for virtual currency exchanges. It is the policy of the Central Bank to provide an environment that encourages financial innovation while at the same time ensure that it will not be used money laundering or terrorist financial activities and the financial system and financial consumer are adequately protected.but if people say the reason is government dont know about bitcoin
i think it is wrong. government must be know about bitcoin but they have the other reason
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