Topic: Why do some government ban bitcoin? - page 11. (Read 1492 times)
Some government ban bitcoin because every government has its own governing rules and regulations and when they see bitcoin as a threat to their economic status and development, then we can't stop them from banning bitcoin and the rest of the cryptos. It is what it is and we just have to respect their decision on that.
If this news is true, this is a way of China to get control of the crypto currencies. They know that it is difficult to completely ban it so they are trying to scheme a way and start with exchanges and ICO's. But I believe that they cannot stop its people from wanting to join and invest in crytos knowing that they will get benefit from it. Same thing with the government of China and most of the governments, they want to be in control as they say to protect its investors and at the same time because they believe there is a big revenue that can be collected from cryptos.
No country can effectively prohibit the bitcoin bitcoin, and the point-to-point transmission will be realized across borders. This will be unable to be effectively supervised. China has only taken comprehensive measures to control the illegal collection of ico and money laundering, and everything is in the effective control of China. In development, this is an effective blow to illegal activities. I think this is the right decision, even if it hinders the development of the blockchain in a certain way,
Its legality is being argued all over the world because some of the country see's it not as a legal tender or they are more likely want to have a secured money that they are able to control in their nation.
Because it has no formal basis and regulatory authority, bitcoin is prone to be misused for illegal transactions, money laundering, bitcoin circulation as well as being illegal as it is unreachable to the Central Bank. This could potentially lead to markup or bubble. Therefore, the transaction of speculative virtual currency values. not only harm the community later, such transactions can also disrupt the stability of the state financial system.
The government of some countries in the world banned Bitcoin. Because they can not control Bitcoin or can not. Again, the government of some countries consider Bitcoin trading illegal. For example, the government of China has not banned cryptocurrency, they have banned ICO exchange.
Government ban bitcoin in other countries, because they could not control people to invest in btc that they earn already a big amount of money, so they could not get tax from those people. They want to protect their own currency and their banks as well. The government think of this that they should ban bitcoin. They think that they could not control anymore their people, so they make implements to ban bitcoin in their country.
Governments in some countries ban bitcoin or any other cryptocurrency because they are only protecting their own national currency and they are also concerned for activities like money laundering and any other illegal transactions.
In reality, it is very hard to ban bitcoin, because it is decentralized and anonymous, so it will be extremely hard for the governments to track those who have bitcoin. However, banning bitcoin will be bad news, especially if it gets banned in big markets (such as China). The recent media noisy about banning bitcoin in China (which was not real) caused a huge crash in the market.
in some countries bitcoi has been banned complete.because they think that smuggling through bitcoin can be done easily by purchasing drugs. bitcoin can be done easily.and due to the translation the government is losing revenue. so it has banned it.
Because they don't have control over it or they know throwing such news would instantly decrease the price of crypto so they can join easier/cheaper and have more control over market.
Bcos government afraid btc can change reg money
So they ban btc
So they ban btc
They ban it because they can't control it. Governments are in the Control business.
Yeah or maybe they cant get tax from bitcoin, we know that we earn a huge amount here and we dont even paid a tax like the other workers. Maybe its affect the economy in term of money that came from us.
That's all because of control. Many governments are agraid and against something they can't control. Same thing here, cryptocurrencies are practically impossible to control.
I agree in you on this. Bitcoin is being banned because the government is afraid. They cannot control bitcoin as to its price considering that bitcoin really give a good profit. Ofcourse government will want to have some of your profit. I am thankful that my government does not ban bitcoin.
Or they genuinely have no idea how to tackle the issue it as it is a new technology so they decided to ban it altogether until they find a way to properly regulate it. Take china for example, they wanted to trim down scam icos but they have a "positive" stand against cryptos in general.
They are so afraid of the risk that bitcoin have because the market of bitcoin is so volatile so it is an obvious thing since the bitcoin is not controllable because of the decentralization system so the government can't do anything to lessen the risk because they are just going to ban it for the mean time because they don't want their people to lose their money in such a high risk investment.
their common reason is because they cant control its price...in my country,my goverment also afraid of cyrptocurrency being used for illegal activity like terorist funding or money laundering...but in their recent news they re gonna adapting blockchain to their banking system and ironically they also will make their own cryptocurrency
That's all because of control. Many governments are agraid and against something they can't control. Same thing here, cryptocurrencies are practically impossible to control.
I agree in you on this. Bitcoin is being banned because the government is afraid. They cannot control bitcoin as to its price considering that bitcoin really give a good profit. Ofcourse government will want to have some of your profit. I am thankful that my government does not ban bitcoin.
Some government are scared because they think of the fact that they might be overrun by the power of Cryptocurrency and may lead into further conflict inside the country. China is a very business minded country in which you can see every Chinese owns at least one business that they run and gain profit from this industry. Bitcoin may become a asset for some Chinese people if they know how to utilize the use and use it carefully and not abusively. Maybe this is why some country bans Bitcoin or other Cryptocurrency but if they set rules and regulations about this matter, then maybe everybody can profit from the Cryptocurrency Industry.
That's all because of control. Many governments are agraid and against something they can't control. Same thing here, cryptocurrencies are practically impossible to control.
Bcos government afraid btc can be changed reg money also no tax of btc.
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