Why do some government ban bitcoin? - page 58.

thepolarbear

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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.

In my opinion and based on the article I have read, some governments ban it due to bitcoin's lack of central payment system that will result to financially harmed or uncertain financial aspect. Also, some of them think that bitcoin is illegal for a reason that it doesn't have enough existing laws. In addition, I think they ban it because of unsure result it will give especially to their economic's status and the banks situation.

Dod Ong

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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.

I think that bitcoin in banned by other countries, because they think that the bitcoin is unfair to other people that work hard for money, For me the bitcoin is not bad but the government says bad because they want to be equal to other people. Other people work hard but bitcoin is very easy to earn money so they think that the bitcoin is unfair.

learner 7

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Governments are clans that want to be in power. And they do not want to share their power with anyone. Do you think that blockhain can replace these non-effective governments in the future?

amzad

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The country in which this work was considered illegal may think that the government can lose their power by the bank. Because nobody owns Bitcoin. No one can control it.
The government may not like the cryptro coin.
So their main currency in the market is made.
That's why this work seems illegal.

kyori

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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.

Maybe because of their economic growth they are worrying to loss some investors because they are moving to bitcoin and because of money laundering

Lorilikes

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This is something that implies government CAN ban. They can't. It's literally unenforceable and any region who makes a law actually banning Cryptos is trying to call create criminals - or trying to boost revenues only . Why ? Because that would be a lot of tickets or citations = money.

JTASSOCIATES

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We cannot answer technically about why do some government ban bitcoin. But we can logically assume about it. First and for most is Bitcoin is cryptocurrency which has no boundaries of its growth and it is not controllable and it is independently working in the benefit of People who involved in it. Government may afraid that it may impact in their financial policy and due to that may be economic of the country not immediately but in future may affect that's the major reason I believe. Banning is good because of that only we plan how to access and how to plan our future with bitcoin all question and technical aspects raises and it solve that issues.

mongkie

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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.

technically, no government banned bitcoin. it is the ICO of other cryptocurrencies because of the scam reports that the government recieve from icos and other exchanges.
some people uses the blockchain technology to lure investors to scam projects.

kiver

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well governments tend to control everything and when they see something they cannot control they have to shut it down i hope this doesn't happen
and the bitcoin community could come to an agreement that could that benefit the world from such a great technology

Hasbro27

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I think the government of a country is uncomfortable with bitcoin, because it uses more bitcoin than cash, because of the ease with which it is provided and more to the bitcoin superior than cash, so many state governments are prohibited from using bitcoin.

romecheo

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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?

Absolutely Not. Bitcoin purpose was very great for the benefits of people.

Quote

Do the other government in other countries see something bad?

Yes, since government are no control over Bitcoin, the Government cannot earn profit by taxing Bitcoin.

Quote

Can bitcoin be used to locate us?and see what we are doing? In short a Spyware.

Nope, Bitcoin wasn't design for spying on people.

killerfrost

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There is so much to say about this. Bitcoin is really good, it goes through both cash and gold. It is not taxed so the government loses a tax amount. Bitcoin secures transactions, so shady, illegal transactions can take place without being detected, the government does not like this. Bitcoin disturbs the economy, causing many people to become poor so there are many reasons for the government to banned Bitcoin.

Aba

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In my opinion,with the advantages of bitcoin that is not controlled by the government or central bank makes bitcoin much in demand by people, gradually banking functions as a provider of banking services will be replaced by bitcoin, thus created fears to the banking and government. thus making bitcoin banned by some goverment.

yanskie18

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For me i thing the main reason why some government banned bitcoin is that because they're not getting any profit from the community or in short they don't get any taxes from the bitcoin users. That's why some of the countries ban bitcoin because there are many people who works in cryptocurrency earn a lot and they don't pay any taxes.

krun4

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The government more or less thinks of their interests and if something (investment, opportunity, new law) doesn't serve them it should simply be removed for a greater good (greater good for whom I can't tell). Keeping this in mind BTC is uncontrollable by them and mostly we as person can benefit from it, but the government as whole didn't find it's way at this stage.

Mr. Thang

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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.

You have to understand first the nature of bitcoin before asking the question. Due to bitcoin's decentralized and volatile nature, any government institution or big companies cannot regulate its transactions, thus making the individuals anonymous during the process. Also due to its volatile nature, one cannot simply predict accurately its final price which comes from the law of demand and supply.

Some countries in Asia ban the usage of bitcoin since due to the reasons I stated above, government cannot track down the individuals involve the transactions. This results to bitcoin being used as the main medium of exchange under the dark web to purchase illegal drugs, hiring of pitmans, or any other related illegal actions. Mainly, bitcoin is used as the main money in exchanging for drugs as what happened in the Silk Road crime.

koeb88

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Quote from: arnux on October 25, 2017, 08:20:09 AM

They fear anything they can't control so if they can't regulate anything they'll end up banning it only some countries will embrace Bitcoin for what it is.

Thats the big point, they can't control it. If they find a way to get into cryptocurrency with tax controls maybe they will introduce it as a official payment.

arnux

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They fear anything they can't control so if they can't regulate anything they'll end up banning it only some countries will embrace Bitcoin for what it is.

Lumada

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Quote from: Chrystora123 on October 25, 2017, 08:04:30 AM

this is my opinion, I see this time Bitcoin has begun to be noticed by the government,
entrepreneurs seem to play a little role in the government in order to reduce the price of Bitcoin,
so the entrepreneurs united with the government to banned Bitcoin for the price down and they can buy it with a lot..

Businesses usually companies uses IcO now to gather some funds to make thei project success,at this way some beneficiaries were from different countries that can make their economy weakensas well as it's more prone to scammers that might affect businesses economy.

manoj kumar k

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the government has thought that the bitcoin is a fake currency and can be closed in any time ,if the value of the bitcoins falls down the entire economy system will fall do so they hav banned in some coountry

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