Topic: why some country banned bitcoin? (Read 10262 times)
Firstly bitcoin is decentralize and if a country is 100% control by decentralize currency the country will face some problem in the future. The banks and centralize government will suffer heavy impact from illegal trafficking to all sort of problems which might occur.
Simply put, Bitcoin is decentralized and therefore not controlled by anyone. As we know, because they like to control currency, the government has formed a currency. They control it through the central bank. They also want to know who has, where it is and where it is. Although they can't treat Bitcoin like Bitcoin. Therefore, I may conclude that they are afraid of something they cannot control.
They banned bitcoin because no one can control bitcoin ,and many people use it as a way of crime,money lagging is more easy with it .But bitcoin is also a way to income of common people, so government should prevent this kind of bad use of bitcoin not to banned bitcoin.
I do not know what the reason the state does not legalize Bitcoin, I do not understand. perhaps because Bitcoin is hard to control so the Government bans it, the government can not supervise Bitcoin transactions, so the government is afraid that the use of Bitcoin will be misused, such as money laundering by corruptors and others. And If the government has legalized Bitcoin, I'm sure the Fiat Money will be defeated by Bitcoin.
Some countries prohibit bitcoin because bitcoin is not government-related. The government can not make a profit. And concerns about the threat to the economy and the development of their country.
i again say which i have said other post . you cant ban bitcoin its decentralized . most of them may have ban on bitcoin business ,doing business , buying things with bitcoin. reason i feel they are doing this is because main reason this bitcoin is destorying bank . people are taking out of bank and investing in bitcoin. i feel main reason is bank. if country want to legalize bitcoin they can have tax for it instead of banning . its such a sad country are denying technology
Yes and why these countries or governments don't like bitcoin. Is it illegal or is it dangerous. So if bitcoin is bad why other countries investing to bitcoin. I think it is a race between invertors and governments
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
It is because it is a threat. Threat, because most country's economy depends on banks which is centralized and bitcoin is the opposite of it due to it being decentralized in nature.. Some just put a ban to it to study how it really works, and how they can have good use of it in the future without replacing banks.
The countries of the world, which have already expressed their attitude to cryptocurrencies, are divided into two categories: those that think that they do not yet have enough influence on the crypto currency, and those that are able to adequately perceive the changing world. Unfortunately, the first quite a lot.
I suspect that many countries in Europe, America and Asia in 2018 will meet one of the scenarios. Cryptocurrencies will be regulated to protect citizens in order to effectively collect taxes and to defend the current financial system. THIS is something terrible. BTC is freedom, not regulation.
Not all countries look to the future, especially when it comes to crypto-currencies. Bitocoin is still illegal in some countries, because according to the government of these countries, bitcoin is the machinations of the devil, the capitalists and the world collusion of the elders of the elders, an outlandish thing and the thing that is easier to forbid than to take under its wing.
You're right, a lot of countries are not as accepting of new technology like others and they always resist it until it is too late and everyone is using it which is when they decide to jump on board and start using it. I believe that all the countries which banned bitcoin will lift the bans in the future.
I think the reason is it is competition the the current banking system and the banking system has its tentacles all over world politics so its expected. Banking can be done via an application, intermediaries are not needed and this is a threat to world establishments
Governments of those countries just don't know how to handle bitcoin and banning it. It's the easiest and stupid way of solving problems because internet can't be blocked.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Which is happening in my country. government in Indonesia considers bitcoin potential dangerous in comparison with the benefits provided. bitcoin can make a new way of corrupt to untrack their money. and also bitcoin is considered a dangerous asset because of its fluctuating price. so I think that is some reason the government is still banned bitcoin in indonesian. which is asian. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
I think many countries do not yet have such opportunities to control the crypto-currency. While all banks obey and report only to the government, while it is much more difficult to track the crypto-currency. Because in many countries, there is no such active use of electronic money, like a visa and a master card.
Pakistan's central bank informs banks and other financial institutions not to help their customers transact in any ICOs or virtual currencies. 
The country's cryptocurrency exchanges have been forced to shut down as a result of this ruling.
The country's cryptocurrency exchanges have been forced to shut down as a result of this ruling.
Reasons why Bitcoin is banned are different, while the reason to adopt it is always the desire to follow the progress and obtain new technologies. But the most common reason why bitcoin is banned is due to the fact that bitcoin can be anonymously used to conduct transactions between users, anywhere and anytime around the world, which makes it attractive to criminal elements.
because they don't know how to demand taxes from this, and still fear for the economy of the country
Maybe because Bitcoin is not regulated by a central bank. Neither does the currency undergo the rigorous regulation that exists in the global financial system. Consequently, its existence and use is not well monitored, which is a concern for many countries due to increased susceptibility for users engaging in illegal activities.
Because of fear, ignorance or protectionism, many governments tend to pass laws without understanding and to prohibit things that they consider to be a threat.
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