Because bitcoin is decentralized, so government can't control bitcoin users in their own country. There are many criminals use bitcoin for their alternative way and government can't even find him.
The other thing is government is afraid of bitcoin because in one day bitcoin can replace FIAT as alternative currency.
Topic: Why in some countries Bitcoin is banned - page 19. (Read 16635 times)
Per example you can buy illegal stuff.
That is why is banned for some countries.
The reason does not make sense, because we can buy illegal goods with dollars? That is why is banned for some countries.
yeah i don't know why some country ilegally bitcoin?
including my country,
they mentioned that bitcoin is money illegally
including my country,
they mentioned that bitcoin is money illegally
Per example you can buy illegal stuff.
That is why is banned for some countries.
That is why is banned for some countries.
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
In China, the great firewall blocks bitcointalk and presumably Bitcoin nodes. It is easy for them as they have the firewall in place already. It is impossible to block it completely but it can cause some inconvenience at the least.
and im sure chinese goverment never plan to do it
They don't block the exchanges though.
try it
http://www.greatfirewallofchina.org/index.php?siteurl=bitcoin.com
http://www.greatfirewallofchina.org/index.php?siteurl=forum.bitcoin.com
Well the Australian Bitcoin Group clearly states it is operating mining hardware in China, this is clearly turning into a raquet i will be requesting that the ASIC blocks the December IPO if this mining equipment isnt moved out of China
Some countries banned bitcoin because of its bad image and use in dark usage and secondly people from that country preferred fiat over virtual currency.
No worries, if most of the countries will truly accepts bitcoin and become worldwide usage, those countries that banned bitcoin will do the same too.
No worries, if most of the countries will truly accepts bitcoin and become worldwide usage, those countries that banned bitcoin will do the same too.
The countries considering illegality of Bitcoins are just wasting their time and losing opportunity on the world's biggest revolution ever created before...
No matter whether they allow it or not, everyone's going to use it at any cost, because it is legal in our hearts...
Love ya Bitcoins...
No matter whether they allow it or not, everyone's going to use it at any cost, because it is legal in our hearts...
Love ya Bitcoins...
Really insightfull picture, im going to show this to my friends, but what is the meaning of unknown? they dont permit or say it is illegal at all, just like a legal void?
what?what country is that?
in my country bitcoin is legal but has not been uncommon for use and not many people know bitcoin
in my country bitcoin is legal but has not been uncommon for use and not many people know bitcoin
Because the financial institutions are regulated. A regulated institution like a payment processor/bank must be able to trace the money they get according to AML.
If all the BTC exchange companies would be regulated, then BTC value would be like zero. Why? Take a look to Coinbase. They are(or trying) tracing your Bitcoin funds back to source. They require a lot of papers. Why? Because the law requires these things and Coinbase being regulated, they must comply with that. They must do due diligence, AML, KYC etc. They must be sure that the money they get are "clean".
Imagine that all the exchange companies will do the same. There will be almost no black market, no ponzi schemes, so NO Bitcoin. Because the Bitcoin is backed 90% by these ones.
That's why many countries banned Bitcoin.It is not regulated, the exchangers are not financial licensed and more than that, it's tied to illegal activities (over 90%).
If all the BTC exchange companies would be regulated, then BTC value would be like zero. Why? Take a look to Coinbase. They are(or trying) tracing your Bitcoin funds back to source. They require a lot of papers. Why? Because the law requires these things and Coinbase being regulated, they must comply with that. They must do due diligence, AML, KYC etc. They must be sure that the money they get are "clean".
Imagine that all the exchange companies will do the same. There will be almost no black market, no ponzi schemes, so NO Bitcoin. Because the Bitcoin is backed 90% by these ones.
That's why many countries banned Bitcoin.It is not regulated, the exchangers are not financial licensed and more than that, it's tied to illegal activities (over 90%).
The answer is quite simple. Some countries are run by clueless bunch of idiots that don't see any further in the future than their nose. Because of this, they will be run over by the progress, by the technology and everything that this technology has to offer, and it has a lot to offer, that's a sure thing!
In China, the great firewall blocks bitcointalk and presumably Bitcoin nodes. It is easy for them as they have the firewall in place already. It is impossible to block it completely but it can cause some inconvenience at the least.
and im sure chinese goverment never plan to do it
They don't block the exchanges though.
try it
http://www.greatfirewallofchina.org/index.php?siteurl=bitcoin.com
http://www.greatfirewallofchina.org/index.php?siteurl=forum.bitcoin.com
You are asking why China bans bitcointalk.org? Very simple, anyone can exchange ideas freely on here. They fear freedom of information more than anything because they do not trust their own population. They are total control freaks worried their one billion people will run amok if they find out every person in this world has a right to be a free individual making up their own mind about society, world events and their existence.
You could talk about revolutions, censorship, critizise authoritarian (totalitarian) governments and even conspire against them. A marketplace of ideas is most likely perceived to be the biggest threat, much greater than Bitcoin ever will be.
I think it's banned in some countries because the government can't have any control over it like they do with banks
It's just a guess don't know for sure
It's just a guess don't know for sure
Every countries governments has the right to ban Bitcoin, they are allowed to do what they want, they are the government. I guess some of the governments don't really like the idea of Bitcoin so they just ban it, and they have every right to. People have their own opinions about Bitcoin, most people like it and others don't.
Why in some countries Bitcoin is banned is the accepting of Bitcoin by websites and that are illegal .
It is very simple to understand. In the countries when bitcoin is banned, mostly is made because the Authorities have fear from it. Bitcoin can be a risk for the economy of one country. He must replace the national currency of one country and put in risk, in this way, the overall economy of that country. The national money will be no longer more used or used very few. This mean that the most of national money will be out of the national economic system and the national financial ones. The people will use bitcoin instead of the national money. If regulated and legalized mean that that country will have mostly in use a money out of its control. Bitcoin is decentralized and no owned by no one. And cannot be centralized and owned by someone. No possibility to manage such kind of money. Then needed big amounts to send ahead and manage the economy. Needed to be bought but there are not never enough. Leave apart in this case the increase of its price as a consequence of the new big demand come from one country.
All this situation have only one end: crisis.
Normally bitcoin is banned by wreaks or in risk economies and regulated by the strong ones. Like has made Russia which has banned it and USA which has regulated it.
some country afraid about bitcoin uncontrolled and decentralized..
You could live in a country where Bitcoin is banned, but you might plan a vacation in another country, where Bitcoin is not banned. So you earn Bitcoin online and then visit another country and have a lovely vacation on Bitcoin. Bitcoin is border-less and you can take as much as you like. Enjoy your holiday. ^Hmf^
So based on all the comments thus far, no country actually has banned Bitcoin.
So I did some research and found a Wikipedia page on the topic: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
The countries (that I found) that consider some element of Bitcoin illegal are:
Most countries have declared they don't have plans to regulate it or they don't see it as currency so it doesn't qualify under currency laws. The latter is perfect - don't consider it currency, stay out of our way!
So I did some research and found a Wikipedia page on the topic: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country
The countries (that I found) that consider some element of Bitcoin illegal are:
- Ecuador - issued a ban on bitcoin
- Thailand - declared bitcoin illegal, but some businesses have been able to get licenses to deal in it
- Vietnam - It's illegal to trade bitcoin in this country
Most countries have declared they don't have plans to regulate it or they don't see it as currency so it doesn't qualify under currency laws. The latter is perfect - don't consider it currency, stay out of our way!
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