Topic: Why do some government ban bitcoin? - page 5. (Read 1497 times)
Bitcoin, like any other electronic currency, can be used for money laundering or tax evasion. The system does not have a control center, so it will not be possible to appeal or crank the transaction in reverse. This is why Bitcoin has been banned in many countries.
every government tries to control something or the other and crypto is decentralized and the government has no control over it so many governments have put a ban on them so as to protect their own paper money
Every Government has won strategy to lead their economy. Government has no control of bitcoin and it lot of effect off economy.And also no need to pay any tax for bitcoin.For this reason i think some government ban bitcoin.
The government and other firm like insurance, bank, e-marketing and more are scared of losing power, they know that ICO and token and airdrop is transferring power to the citizens. And making the common man have financially free.
Because many countries feel that BTC is what makes investors lose money, they fear that their people will lose their money.
Based on what I know that there are terrorists or criminals who use bitcoins to fund spatial groups, it is because the system in bitcoin where transactions are made can not trace the identity of the owner. It is natural that the government forbids bitcoin, because terrorists can seriously destroy a country. Regardless of what it is, if bitcoin is abused then it is most likely if the government forbids bitcoin.
if the Indonesian government still considers the bitcon is illegal. but the government
nor does it prohibit its people to invest in bitcoin. but the risk of loss must be borne alone can not report to the authorities (police). and should not be used for goods purchase transactions. maybe the government is afraid that the currency of the country and the central bank is less in interest again .
nor does it prohibit its people to invest in bitcoin. but the risk of loss must be borne alone can not report to the authorities (police). and should not be used for goods purchase transactions. maybe the government is afraid that the currency of the country and the central bank is less in interest again .
This may be because bitcoin does not have a formal basis for real management and management and these are feared to be hacked and then musused as they see fit or made to evil. The goverment forbids it intended to suppress crime for money loundering and so forth.
I believe that they cannot stop the people from wanting to join and invest in cryptos knowing that they will get benefit from it.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.Some government ban bitcoin because every government has its own governing rules and regulations and when they see bitcoin as a threat to their economy.
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 
The reason why other government banned are risk assessment, loss of profits, lack of control and both mutual and sided interests. mostly based on lack of understanding of how cryptocurrencies work and why the blockchain technology is important.
Sometimes the only way to protect your own interest is to use your authority to stop the hindrances of the flow of your reason why why you are setting on that chair (government power) that is why decentralisation system will always powerless when the power of government hit against it.
I think No government dont realy ban bitcoin but the are ristrectly ban and aginst ICO specialy in china, USA, and some part of the world. But even they do that they still cant ban crypto because there still some people using it.
I think it affects the lack of official legality from the world about bitcoin, so there are some goverments that do not trust bitcoin yet, it is also possible because bitcoin is prone to being made illegal deals in the underworld
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It is true that bitcoin is being used by drug traffickers, money launderers and other illicit activities and it is one reason why countries banned bitcoin. Other banned bitcoin because the government has no control over bitcoin and they are afraid of what negative effects it may bring to their economy. While other countries banned bitcoin is because they are still studying how to adopt bitcoin and what regulations are they going to place so that it will help and protect the people while developing the economy.
Becausw somw people uses bitcoin for evils. Tjey scamming people, fraud is abundance. They think the best way to stop scam is to ban the bitcoin.
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.
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.
the government forbids bitcoin because there are many factors of bitcoin misuse and bitcoin government statements are also illegal.
Some of the users use bitcoin for money transfer because they have fast and low fee. The government know the possibilities to replace their currency
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
For me, because they cannot take control bitcoin, because bitcoin do not have tax that's why they ban it; because they think that bitcoin is a scam that will lead a threat to their people, because they don't have any idea about it and also they do not believe and trust bitcoin. Jump to: