Why in some countries Bitcoin is banned - page 18.

Harry Hood

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Quote from: BeGoods on November 17, 2015, 07:41:55 PM

In Canada and America, we are greatly facilitated in using bitcoin,
unlike china, they banned bitcoin

China has not banned bitcoin. Please check your facts!

And the image below is cool but I'm skeptical that Iceland is "hostile" toward bitcoin, especially since there's a ton of mining going on out there.

Quote from: LiteCoinGuy on November 16, 2015, 04:41:43 AM

xdrpx

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This could be because the Government and the banks fear about their secret scam of minting money being revealed and Bitcoin taking over it. Also, maybe cause they worry of how bitcoin doesn't really provide a centralized control to be able to regulate it and monitor peoples transactions like they can do in a bank.

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I can tell you the reasons in Bolivia, where the Central Bank banned it, but the ban seems not enforced in any way. To my knowledge, there are even bitcoin businesses in some Bolivian cities, maybe they even lifted the ban now.

The Central Bank in Bolivia feared that people could engage more easily in capital flight and so desestabilize the value of the own currency. Well, the Boliviano is a weak currency (although with a relatively stable rate to other world currencies, compared, for example, with Argentina's notoriously devaluating Peso) because of the small size of the Bolivian economy, so the fear is understandable. But I don't think Bitcoin will have any significant effect on the Boliviano's stability. They simply overreacted.

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Quote from: kostya.ash on November 17, 2015, 07:36:38 PM

Quote from: LuckyYOU on November 17, 2015, 03:31:00 PM

Quote from: BTCBinary on November 17, 2015, 09:34:58 AM

Because those countries are trying to disable a currency that has the potential to drive the wealth produced in the country to overseas. Besides this, governments want to have capital control over people's money

For Russia this is true, but I think a lot of companies just don't understand the concept of bitcoin and thus hearing it as a criminal currency making them afraid and just ban it.

yeah Russia’s Ministry of Finance is hoping to pass a law to ban bitcoin
image of bitcoin is bad,
how to keep the image of bitcoin could be improved?

by not using it

These days, Bitcoin is called a "way for funding terrorist". You will see many banks who will close all the acc. realated with Bitcoin.

BeGoods

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In Canada and America, we are greatly facilitated in using bitcoin,
unlike china, they banned bitcoin

kostya.ash

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Quote from: LuckyYOU on November 17, 2015, 03:31:00 PM

Quote from: BTCBinary on November 17, 2015, 09:34:58 AM

Because those countries are trying to disable a currency that has the potential to drive the wealth produced in the country to overseas. Besides this, governments want to have capital control over people's money

For Russia this is true, but I think a lot of companies just don't understand the concept of bitcoin and thus hearing it as a criminal currency making them afraid and just ban it.

yeah Russia’s Ministry of Finance is hoping to pass a law to ban bitcoin
image of bitcoin is bad,
how to keep the image of bitcoin could be improved?

LuckyYOU

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Quote from: BTCBinary on November 17, 2015, 09:34:58 AM

Because those countries are trying to disable a currency that has the potential to drive the wealth produced in the country to overseas. Besides this, governments want to have capital control over people's money

For Russia this is true, but I think a lot of companies just don't understand the concept of bitcoin and thus hearing it as a criminal currency making them afraid and just ban it.

JeWay

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Because the government afraid of the Power of Bitcoin

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Quote from: BTCBinary on November 17, 2015, 09:34:58 AM

Because those countries are trying to disable a currency that has the potential to drive the wealth produced in the country to overseas. Besides this, governments want to have capital control over people's money

Yeah, the main issue bitcoin is facing is that it is not getting support from the Governments of the respective countries, As Governments knows that bitcoins can demolish the existence of fiat and banking systems and bitcoin is decentralised and Government don't have any control over the functioning of bitcoins So they don't wish to stand in support of bitcoins.

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Quote from: oblivi on November 17, 2015, 01:29:49 PM

Quote from: richardsNY on November 17, 2015, 11:20:00 AM

Quote from: eddie13 on November 17, 2015, 11:15:37 AM

They are afraid of the competition..

It's not really the competition they are affraid of. They don't want people to have the freedom to spend their coins on anything they want. Beside that, Bitcoin is also feared by certain countries because it makes it easy for people to get money out of their country to another country where they think it's safer. Countries that ban Bitcoin are affraid of freedom. That's it.

They are affraid of money laundering and basically lack of control of the monetary dynamics. Honestly I understand it, if I was the goverment I would be pretty pissed off too at the fact there is a tool now that basically allows for a completely independent economy that is not part of the GBP.

I absolutely agree with this approach to the problem. If we consider the enemies of Bitcoin as our enemies then to defeat them we should try to understand them.

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Quote from: richardsNY on November 17, 2015, 11:20:00 AM

Quote from: eddie13 on November 17, 2015, 11:15:37 AM

They are afraid of the competition..

It's not really the competition they are affraid of. They don't want people to have the freedom to spend their coins on anything they want. Beside that, Bitcoin is also feared by certain countries because it makes it easy for people to get money out of their country to another country where they think it's safer. Countries that ban Bitcoin are affraid of freedom. That's it.

They are affraid of money laundering and basically lack of control of the monetary dynamics. Honestly I understand it, if I was the goverment I would be pretty pissed off too at the fact there is a tool now that basically allows for a completely independent economy that is not part of the GBP.

jc01480

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Nope..

The government will let you know what is safe for you. No need for independent thought. Wink

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perhaps because of the many errors in using bitcoin. maybe in the country so many use bitcoin illegally causing bitcoin be forbidden in the country

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Quote from: aakashsangwan on November 17, 2015, 10:28:29 AM

Quote from: ad2040 on November 15, 2015, 09:30:28 AM

Why in some countries Bitcoin is banned is the accepting of Bitcoin by websites and that are illegal .

I think, because the government cannot regulate and control it and they are technically orthodox.Also in the recent past there were many incidents where bitcoin was used illegally like in madison hack, silk road and many more.After some years i think those government will start trusting bitcoin and other blockchain currencies.

Here in my country, bitcoin is not yet regulated by our Central Bank but we are freely to use bitcoin here.

Main reason is that they are still conducting a research about those illegal activities that can be brought by bitcoin if ever it will regulated. Anyways, even they have a solution for that problem, still if majority of other country will still not regulated bitcoin in their local banks, our country I think will do the same.

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Quote from: eddie13 on November 17, 2015, 11:15:37 AM

They are afraid of the competition..

It's not really the competition they are affraid of. They don't want people to have the freedom to spend their coins on anything they want. Beside that, Bitcoin is also feared by certain countries because it makes it easy for people to get money out of their country to another country where they think it's safer. Countries that ban Bitcoin are affraid of freedom. That's it.

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They are afraid of the competition..

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Quote from: ultimatesky on November 17, 2015, 10:27:44 AM

Because the goverment doesn't have any control over bitcoin

They don't accept it as actual money because it's virtual money which you can't hold on to

they have still a reason tot ax it instead of banning, it and retrieve some possible money

so why they are banning it? there is no real gain in banning in comparison to accepting it

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Quote from: ad2040 on November 15, 2015, 09:30:28 AM

Why in some countries Bitcoin is banned is the accepting of Bitcoin by websites and that are illegal .

I think, because the government cannot regulate and control it and they are technically orthodox.Also in the recent past there were many incidents where bitcoin was used illegally like in madison hack, silk road and many more.After some years i think those government will start trusting bitcoin and other blockchain currencies.

ultimatesky

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Because the goverment doesn't have any control over bitcoin

They don't accept it as actual money because it's virtual money which you can't hold on to

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Quote from: faridkifly on November 16, 2015, 08:31:49 PM

what?what country is that?
in my country bitcoin is legal but has not been uncommon for use and not many people know bitcoin

There were rumors that Taiwan has banned Bitcoin. Yesterday, regulators of this country have denied this! Of course they haven't said will they ban it in the future!

I think that no country in the world has banned Bitcoin officially until now!

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