Topic: Why do some government ban bitcoin? - page 16. (Read 1492 times)
I am uncertain where all this will go. In a very general sense BTC could approach becoming a global currency. Not absolute for now, but when general acceptance spreads more it will have the effect of appearing worldwide in dominance. Clearly, countries with crumbling fiat are seeing that BTC is propping up investors in huge numbers. There are countries where the fiat you hold is becoming mostly worthless as the days go by. The countries controlling those terrible fiat bills absolutely don't want to see BTC take over in their countries. And yet, if I had access I bet the Gov officials from those very places are buying BTC to cover their A**.
I personally do expect some upcoming discussion in Europe soon because of the energy consumption due to mining. Specially from the axis Germany - France we could get some resistance / pressure. And honestly, although I‘m a cc fan, I can understand the discussion. But I hope it will end in the promotion of energy saving mining approachs (for example via sun energy) instead of any general ban / restrictions.
China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective 
I mean, Governments may be interested in crypto and bitcoin, but a major issue comes with how it's being used. For all they know, it can be used for illegal purposes and that may scare the governments because it leads to a dangerous country. However, another reason that bitcoin makes governments nervous is that it can be used to dodge fees and taxes that go straight to them to fund their own projects and whatnot. It makes sense that they're nervous about it, but I believe that there are better solutions that they can come up with.
China has not banned cryptocurrency. They just banned ICO and exchanges. Peer to Peer trading is still available and actually quite popular in China. I don't think there is an effective way for government to ban bitcoin anyway.
Right, government can’t ban bitcoin easily because they need this technology. Government may regulate bitcoin but for them get some taxes, government will find ways just to control bitcoin that can never happen.
China has not banned cryptocurrency. They just banned ICO and exchanges. Peer to Peer trading is still available and actually quite popular in China. I don't think there is an effective way for government to ban bitcoin anyway.
They ban it because they can't control it. Governments are in the Control business.
China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective
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