Topic: Why do some government ban bitcoin? - page 2. (Read 1492 times)
Some governments ban Bitcoin because Bitcoin has had a devastating effect on its citizens who have joined. Perhaps the Government is worried that Bitcoin is being used in illegal matters and the government does not want to take much risk with this. Would not want if its citizens become loss with Bitcoin due to the very fluctuating nature of Bitcoin. I think a lot of reasons the government forbids Bitcoin in their respective countries.
Maybe it's because they do not believe in bitcoin, they do not see how they can earn from it. They think that using bitcoin is illegal and for me government cannot ban the bitcoin because many people are using bitcoin and also other people are fighting for bitcoin they are telling positive about bitcoin so others will believe on bitcoin and they will already use it even the price of the bitcoin is flactuating many are believing and using it.
These issues arising from the governments is geared towards one thing; the governments want to control and have the bigger share of the blockchain, which is not possible. Ones KYCs are well implemented in all transactions, the governments will not have any claims against Bitcoin again.
I think government ban bitcoin because government scared bitcoin will popular and replace the currency in evey country and the government did not get a tax so that the country will not improve because did not have a money to pay to work on government.bitcoin is very useful in every people so that people find other ways to earn a bitcoin if the bitcoin will ban the government.
The government has the right to print money, so it can make money out of thin air. The amount of money that has been printed out on the market is that the money is worthless, it's devalued. The most striking feature is the rise in prices.
Bitcoin is a natural enemy of the government. In addition to speculators, the faithful are mostly liberals and anarchists.
Bitcoin is a natural enemy of the government. In addition to speculators, the faithful are mostly liberals and anarchists.
These issues arising from the governments is geared towards one thing; the governments want to control and have the bigger share of the blockchain, which is not possible. Ones KYCs are well implemented in all transactions, the governments will not have any claims against Bitcoin again.
They ban bitcoin maybe because it's something that can't be controlled like banks. It is possible also that they know that there are illegal transactions made using bitcoin so they don't like bitcoin.
Bitcoin ban by government it because there are lot of news of scamming and triking people on bitcoin. But they didnt know that not all bitcoin user or investor do that.
Ya else rang say in this thread. I think they forbid it because they are afraid. This technology goes beyond their own national currency. And what do you do when the government itself runs out of money and the government bans Bitcoin because it represents a major threat to their financial security.
Some states forbid bitcoins, and somewhere, on the contrary, to strive to develop it in full force. For example, the leading economist of the Bank of England Andrew Haldane already proposes to introduce in the UK a national digital currency.
I think the government blocking the bitcoin is also thinking of the country as well because they think bitcoin only disrupts the economy. And in the end they do not dare to take risks that will disrupt the economy or finance of the country.
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 
even today in my country the government still prohibits bitcoin for direct transactions but the government still allows to access bitcoin so the government has not completely banned bitcoin I hope all countries will legalize bitcoin for the transaction process
Government wants to ban the usage of bitcoin but I think it's impossible right now especially bitcoin is continuously growing and introduce all over the world. Bitcoin for government is a big threat because bitcoin works independently they can't manipulate the money flow and transactions inside this system. Bitcoin can use by illegal doings like buy and sell of drugs,weapons and etc. That can result terrorism and continuously growing of crime rate.
most likely the governments of some countries are afraid of bitcoin because I see in the presence of bitcoin is now very difficult to do money laundering because the transactions of bitcoin are very clear and transparent very easy to detect.
Well, I think, that transparency of transactions on blockchain is not profitable for some governments that based on autocracy and corruption. They understand that if they don't forbid bitcoin or other crypto now, they will have to deal with it in future and it will be harder to do because bitcoin's popularity is growing every day. So, the progress for some people is their enemy
Because the government does not want to take risks and ultimately the government that does not agree from the country to block bitcoin just for that reason. Though many uses of bitcoin in general. And also because of the unstable price may in the end the government of bitcoin tires.
Because they can not control it as simple as that. They can not tax it, they can not know how much money person has.
It is just because of being decertalized of bitcoin. We all know that government haven't a power to control over it so instead of not owning it they usually ban it for the safety of their people.
Some government ban bitcoin because they feel threatened by the impact it might have on fiat and because it cant be controlled by them. If the government can have full control over it... I am sure they will never have a problem with it.
they want to find the moment to buy bitcoin
with bad news, they are expecting everyone to panic to sell BTC so the price keeps going down
we should not be hooked on this news
with bad news, they are expecting everyone to panic to sell BTC so the price keeps going down
we should not be hooked on this news
Some governments of some nation has banned bitcoin because they are not generating income from bitcome and tax is not generated from bitcoin therefore that nation bitcoin cannot be introduce because of the government law
Not just tax issues. But this is related to consumer protection. Most governments argue that bitcoin is a high-risk investment, so the government gives warnings to its citizens and imposes certain limitations on the use of cryptocurrency. 
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 think the main reason is because it is used in illegal activities like illegal drug transactions, using bitcoin in black market or even scams. Well, luckily in our country,our government seems to have interest in bitcoin and they are looking at it positively. There are just certain issues regarding bitcoin but still bitcoin has good image here in our country. Jump to: