Why do some government ban bitcoin? - page 61.

1NV3ST0NM3

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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.

Its all because governments do not want to lose control. Bitcoin creates a sort of parallel economy which is not regulated by government which frustrates them as people manage to evade taxes. This is why govt. Ban bitcoins.

digitalgame4life

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Quote from: taxmanmt5 on October 22, 2017, 11:28:03 AM

Quote from: virasog on October 21, 2017, 05:55:13 AM

Quote from: gondar1 on October 16, 2017, 07:16:50 AM

I believe they ban it because they are scared of what bitcoin can do to us people. They will lose control over us once we earn a lot. The government has lots of secrets, so it's no surprise to me if they ban bitcoin one day.

Scare is one reason but another one is misuse of currency. I think the reason behind the ban is misusing of bitcoins. There's some disadvantage of bitcoins. Most of people us it in porn sites, dealing with drug and money laundering. Also people trade with bitcoins which hard to trace for government to get them under the taxes.

In order words, governments has lot of reason for which they may ban the bitcoins.

One country ban bitcoin because people use it in bad way like crime, they use it for paying drugs or what ever crime that is really related on money transaction, that is why governments really do not like to use bitcoin. But then i feel if there is no bitcoin will there be no crime , no drugs and no illegal activities ? The answer to all this is No, so why blame bitcoin for wrong activity which is actually the fault of person and NOT Bitcoin to be blamed for.

It is proven that bitcoin can't be beaten and that it keeps rising and rising, the governments and other corrupt law affiliated people won't allow bitcoin to take over their power and money, in my oppinion they will do anything to keep the power in their own hands, on long term they will try to ban bitcoin but on the other hand they can't deny that blockchain and cryptocurrencies as a whole are a very good technology and that they will use it to their advantage, it is only a matter of time when bitcoin will be bigger and they will ban it.

manoj kumar k

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bitcoin have banned in some of the countries because they thaught that there are some disadvantages in bitcoin transaction

taxmanmt5

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Quote from: virasog on October 21, 2017, 05:55:13 AM

Quote from: gondar1 on October 16, 2017, 07:16:50 AM

I believe they ban it because they are scared of what bitcoin can do to us people. They will lose control over us once we earn a lot. The government has lots of secrets, so it's no surprise to me if they ban bitcoin one day.

Scare is one reason but another one is misuse of currency. I think the reason behind the ban is misusing of bitcoins. There's some disadvantage of bitcoins. Most of people us it in porn sites, dealing with drug and money laundering. Also people trade with bitcoins which hard to trace for government to get them under the taxes.

In order words, governments has lot of reason for which they may ban the bitcoins.

One country ban bitcoin because people use it in bad way like crime, they use it for paying drugs or what ever crime that is really related on money transaction, that is why governments really do not like to use bitcoin. But then i feel if there is no bitcoin will there be no crime , no drugs and no illegal activities ? The answer to all this is No, so why blame bitcoin for wrong activity which is actually the fault of person and NOT Bitcoin to be blamed for.

virasog

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Quote from: gondar1 on October 16, 2017, 07:16:50 AM

I believe they ban it because they are scared of what bitcoin can do to us people. They will lose control over us once we earn a lot. The government has lots of secrets, so it's no surprise to me if they ban bitcoin one day.

Scare is one reason but another one is misuse of currency. I think the reason behind the ban is misusing of bitcoins. There's some disadvantage of bitcoins. Most of people us it in porn sites, dealing with drug and money laundering. Also people trade with bitcoins which hard to trace for government to get them under the taxes.

In order words, governments has lot of reason for which they may ban the bitcoins.

adzino

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The government hates bitcoin since it is very hard to regulate. Lack of regulation causes criminals less trouble using this currency. Imposing tax becomes impossible for the government. They hate it cause they do not have any control over your money.
To answer your last question, yes your transactions can be traced to you. Bitcoin is not completely anonymous, rather pseudonymous. Google that term and you will understand what it is.

SoDaBaSh

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In my country it is banned due to the fact that it can't be normally tracked, so the government didn't want to take that risk

siti25

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I suppose because there is no gap for the government to hold and control bitcoin by themselves, or it can be said bitcoin can not be controlled by the government, bitcoin will continue to run on its own without any other parties interfering including the government. So the government does not want to take risks.

Taskford

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They are banning bitcoin because they are afraid of losing the users to bitcoin because they know that bitcoin is a decentralized and they can't control it even if they like to so if they can solve it then prevent it and that is why they are getting rid of bitcoin in their country to be safe from seeing people to migrate into decentralized currency.

hurriebra49

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I think some government ban bitcoin because some peoples make misuse of bitcoin like in China ban some exchanges which are not register legally and make illegal transactions so that is China ban these exchanges so situation is same like some other countries ban the bitcoin instead to ban exchanges and to pick the persons who are doing this crime.

dynospytan

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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 one of the reason why the government wants to ban bitcoin is because it has no tax to those people who earns it. We all know that all the expenses and projects of the government came from people's taxes. Nowadays, many people chose to leave their job just to focus in bitcoin and because of this it decrease the tax payers.

Cofee.BLUE

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Because of the high demand but low tax, people has high demands when it comes to bitcoin, but the governmeny and bank officials are the ones affected in that situation, because the banks anf government were not earning, and if many people knows bitcoin, surely it would be chaos to the government.

Bohxz M4p4gm4h4l25

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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 because their people are tend to walk on different routes that they didn't want , like China some speculation says that China prohibited it's people from accessing bitcoin cause they want to maintain the regulatory that every source of income of their people must be legally done and tracksand we all know I guess the aanonymity feature of bitcoin in which it doesn't require personal information for you to transact here so people are tend to be more likely stranger to each other.

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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.

They will only ban bitcoins if there is an illegal transaction like buying of drugs online and the government will really not tolerate that kind of move, Just avoid those illegal transactions and still everyone will be able to use bitcoins in their country.

jeraldskie11

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The real reason of banning bitcoins in some countries is because the criminals can use it. There are many negative people says that bitcoins is for criminals, why? Because of this reason, bitcoin transactions is anonimous so we can't identify if there is a person sending bitcoins into our address. But I think it's not hindrance for us, especially in our countries security. Just like what our country did, they need valid IDs before converting bitcoin into real money.

Isabella09

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Bitcoin cannot be controlled by government and it is not comparable with traditional currencies. If country create their own currency then it will bring better economy to that country.

chadtn

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They are afraid of uncontrol money transfers and financing of terrorism.

hastag_80

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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 of other Country government band the bitcoin its not payed taxes,and as of now no bill in the congress or in senate that regulate the bitcoin .most of people in my country i think know the bitcoin and what its benefits to our economy,even the political person they invest bitcoin for there investment.so this bitcoiner political person will make a law to help regulate the crypto currency.

MinMan

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Quote from: Fuhre on September 25, 2017, 10:01:43 PM

Relaxed buddy, bitcoin not bad but bad government views. So far, bitcoin has never been used for criminal acts or used for something bad. I really regretted some state of the ban on bitcoin, actually I see bitcoin can help the economy of a country! Even bitcoin can reduce the level of poverty

Very good consolation. I think it is not an authentic news that governments are banning bitcoin in their countries permanently so we cannot blame someone government for banning of bitcoin. if a government ban bitcoin in his country so what he can do wrong with bitcoin because many countries are in process to declare bitcoin being a legal currency in their countries.

loreykyutt05

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Mostly because bitcoin was used on illegal activities like money laundering , since it was anonymous it's very hard to trace the culprit resulting to make a bitcoin ban , if bitcoin will just be used for legal activities that will help for the economy of a country I don't think that the government will found a reason to banned it.

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