Why in some countries Bitcoin is banned - page 2.

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Quote from: tabas on December 22, 2016, 07:40:34 AM

Quote from: Achargeturry78 on December 22, 2016, 07:37:09 AM

In bank statement that i heard about bitcoin is Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto-currency is a punishable offense And China is the biggest marketcoin for bitcoin now some of countries are bannind and unbanning bitcoin because of its potential to help others they banning it because their goverment don't want them to use other currency.

Those countries that are banning bitcoins sees that it is just a tool for illegal transactions because they are not looking at its beautiful characteristics that it can be useful and helpful with the governments economy. And for those who are unbanning bitcoins, they just realized that the qualities that bitcoins have will give benefits to them.

I think only a few countries that they are allowed to use Bitcoin. I don't know what revenue that country government is getting from Bitcoin transaction. The main reason why bitcoin is not accepting in all country means they will not get any income from this bitcoin transaction that is why this Bitcoin is banned in many countries.

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Quote from: Achargeturry78 on December 22, 2016, 07:37:09 AM

In bank statement that i heard about bitcoin is Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto-currency is a punishable offense And China is the biggest marketcoin for bitcoin now some of countries are bannind and unbanning bitcoin because of its potential to help others they banning it because their goverment don't want them to use other currency.

Those countries that are banning bitcoins sees that it is just a tool for illegal transactions because they are not looking at its beautiful characteristics that it can be useful and helpful with the governments economy. And for those who are unbanning bitcoins, they just realized that the qualities that bitcoins have will give benefits to them.

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In bank statement that i heard about bitcoin is Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto-currency is a punishable offense And China is the biggest marketcoin for bitcoin now some of countries are bannind and unbanning bitcoin because of its potential to help others they banning it because their goverment don't want them to use other currency.

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Quote from: Mbah Slamet on December 22, 2016, 01:25:09 AM

Quote from: Rooster101 on December 22, 2016, 01:04:34 AM

Some countries seem to have banned bitcoin and other tried to prevent the use of it but backtracked later. The cryptocurrency can be use by anyone through legal and illegal means, and the authorities like law enforcement, tax authorities and regulators has keeping an eye on some bitcoin users.

Everything is true, and the most important is full control. The country must be have full control of currency used, it is to control inflation, make economic policies and other strategic measures. Bitcoin can not be controlled so as not to be used by the State. And also, bitcoin can use for money laundering.

When we say government, it is the whole system, everything around it that make it run. Now, if a government wants a full control of bitcoin, I doubt it that it is for the good and for the benefit of everyone/everything in the system, for sure there's something fishy in it, and someone in it wants to take advantage of it and it's more like a personal interest.

What comes into my mind when I read comments that a government wants to control bitcoin is there is a corrupt official in it that wants bitcoin or there is someone that really wants it not for the good of everyone but for their own good.

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Quote from: ilovefeetsmell on December 21, 2016, 10:17:22 PM

Very confusing! well, why the bitcoin banned in other countries? just simply because that they can't get benefit from it. Maybe other people use the bitcoin in a bad ways like the criminal activities, fraud and many more.

People are able to escape income tax with it so bitcoins isn't favored by some governments worldwide because they're unable to tax their citizenry as they ought. Fraud is also another factor as it's easily transferable so criminal organizations and drug peddlers find it convenient to adopt in their dealings hence some concerned countries frown on it.

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Quote from: Rooster101 on December 22, 2016, 01:04:34 AM

Some countries seem to have banned bitcoin and other tried to prevent the use of it but backtracked later. The cryptocurrency can be use by anyone through legal and illegal means, and the authorities like law enforcement, tax authorities and regulators has keeping an eye on some bitcoin users.

Everything is true, and the most important is full control. The country must be have full control of currency used, it is to control inflation, make economic policies and other strategic measures. Bitcoin can not be controlled so as not to be used by the State. And also, bitcoin can use for money laundering.

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Some countries seem to have banned bitcoin and other tried to prevent the use of it but backtracked later. The cryptocurrency can be use by anyone through legal and illegal means, and the authorities like law enforcement, tax authorities and regulators has keeping an eye on some bitcoin users.

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Quote from: jak3 on December 07, 2016, 10:52:42 PM

there are several reasons like it is mostly being used for illigal transactions , people started using it in a result of that banks and governments lossing some power and money and so on

may be just like that, the government would not do it when they do not get any compensation. of course the government gets any loss or bitcoin government would jeopardize their bank or currency

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Quote from: ilovefeetsmell on December 21, 2016, 10:17:22 PM

Very confusing! well, why the bitcoin banned in other countries? just simply because that they can't get benefit from it. Maybe other people use the bitcoin in a bad ways like the criminal activities, fraud and many more.

Benefits? no, countries and government has more money compared to bitcoin, they won't just ban it because they can't get anything from it. Illegal activities? yes of course, that's the reason why a country would ban things that could cause trouble and hurt their people. Instead of banning bitcoin, I am sure government would just be imposing tax to the exchanges, where we don't have a choice but to just accept it.

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Very confusing! well, why the bitcoin banned in other countries? just simply because that they can't get benefit from it. Maybe other people use the bitcoin in a bad ways like the criminal activities, fraud and many more.

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In countries bitcoins are banned because of the following reasons
-people are using too many bitcoins for drugs ,money laundering and other bad things.
-they want their own currency to be circulated rather than any digital cryptocurrency.

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Quote from: sabbirshm on December 12, 2016, 10:54:23 AM

Bitcoins transactions is untraceable so.government can't control it's transaction.So Few bad people do illegal activities through bitcoin.Mostly bitcoin is used for money laundry.I know a country name Bangladesh banned bitcoin because of money laundering.

you are right. bitcoin is often used as money laundering, and to do something illegal, because it would be very difficult to track if the money has been entered into the path of bitcoin. Well, look at the losses, many countries are being vigilant with bitcoin. but, I feel that it is one of the reasons bitcoin banned in several countries.

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Bitcoins transactions is untraceable so.government can't control it's transaction.So Few bad people do illegal activities through bitcoin.Mostly bitcoin is used for money laundry.I know a country name Bangladesh banned bitcoin because of money laundering.

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Quote from: Tanic on December 12, 2016, 10:30:33 AM

I don't know any country where bitcoin is banned. But I know that for example in Russia the site Betcoin.ag is banned. I am from Russia and I just couldn't use that site there. We have strong rules with all the kind of casinos, so maybe that's why.

Thats rule of your country was so strong that gambling sites was banned. Here in my country we have a law that you can gamble online but our government didnt do a thing in order us to not play gambling games. They didnt block the sites, Thats why Im happy that i can play gambling with my bitcoin.

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I don't know any country where bitcoin is banned. But I know that for example in Russia the site Betcoin.ag is banned. I am from Russia and I just couldn't use that site there. We have strong rules with all the kind of casinos, so maybe that's why.

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You are asking some countries banned the bitcoin, You should explain which countries are banned the bitcoin?
Actually, i don't know any country banned it. But i know that in many country, bitcoin is not used in official level, but it doesn't mean that those countries banned it.

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Quote from: onyek16M on December 07, 2016, 10:20:22 PM

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 .

this is because they think bitcoin is illegal activities , they don't know about bitcoin that bitcoin is good thing

It is not just that bitcoins can be used for good things. But the transactions governments can't trace they worried that people can use for illegal things or to avoid paying taxes. Those reasons are valid ones. But in future they may come up with some regulations and start accepting these bitcoins.

stomachgrowls

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They are banned because some countries sees bitcoin as a threat and could able to increase criminality on such place this thing is definitely true but it really depends on the people on how they gonna use bitcoin its either on good or bad but for me i could say bitcoin is really useful and should not be banned.

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Maybe because they are violating rules in their country by using bitcoin like they are buying illegal drugs online or there are online sites that sells this stuff, and to prevent this kind of illegal activities they have banned bitcoin since it is the payment that is accepting on that certain site or the buyers used. That is why bitcoin is being banned on some countries.

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there are several reasons like it is mostly being used for illigal transactions , people started using it in a result of that banks and governments lossing some power and money and so on

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