Topic: why some country banned bitcoin? - page 11. (Read 10262 times)
Bitcoin banned in some country because of tax issues, the government need tax for the budget of the country, but its hard to monitor the flow of bitcoin, they need to study hard how to put tax in bitcoin, and is some cases, they also banned the bitcoin because some people used it to illegal transactions.
I thing, maybe the country concerned is worried, when its citizens use bitcoin as the currency for payment, so the legitimate currency in the country loses its value.
Because they could not regulate it. They are afraid that people will use it for crime or illicit terrorist attacks and can be a route to circumvent capital controls. Some views it as a threat to financial markets' stability.
not only that, Bitcoin as one of the centers of the politicians' incentives to corrupt in it and wash their money into the blockhain system with bitcoin. that's why bitcoin is still being considered to be a country's economic platform in regulating to society 
Some countries banned bitcoin because they always look for the negative sides and disadvantages of using bitcoin.
They believe that it is not advisable for everyone to use it because it is very risky in the crypto market. You can't even predict its specific value.
They believe that it is not advisable for everyone to use it because it is very risky in the crypto market. You can't even predict its specific value.
because people are anonymous and government cant have an access on the bitcoin to tax people, most citizen are shifting from bank and fiat investment into bitcoin which is bad for the banks and other taxations.. this is why some country are afraid of bitcoin especially corrupt countries .
Because they could not regulate it. They are afraid that people will use it for crime or illicit terrorist attacks and can be a route to circumvent capital controls. Some views it as a threat to financial markets' stability.
I don't think bitcoin can be banned since its not physically exists and on the top no body has rights to decrease or increase its value. No matter what my government do or what they plan and what they think about bitcoins i will still use them. We can use it through VPN also. Its a great source of income, we can earn a lot with low investments.
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.
Cause basically they do not want the technology bitcoin possess. Specially they cannot control it, they have no control to it, they cant regulate it. Plus! Since we use it as payment, they cant put tax on it cause basically they have no rights, they have no authority to change whats in it how it works etc. Bitcoin also do not pay any amount to government to operate.
For decentralized of bitcoin,government cannot control it.also government cannot tax it effectively.also government cannot find transaction of one to others .also many countries technology still now not upgrade.
Many governments banned bitcoins and all possible cryptocurrencies due to the fact that they can not be controlled, namely any cryptocurrency gives the user anonymity which makes it possible to transfer dirty money and no one government can calculate it and be afraid of it, that is why they are using every possible power to block all cryptocurrencies. Many governments believe that because of this economy may suffer, but as we see in Japan economy is growing on the contrary, but not everyone understands this.
Many countries may not have the right laws regulating Bitcoin. That's why they decided to ban Bitcoin because it's an additional problem and it does not pay them off. They are begging that bitcoin is made as a tax avoidance tool. He is more transparent and honest - they are afraid of that ...
Because in some countries, many think that bitcoin can not be controlled by the government of the country. But I think it's because the bitcoin prices are going up and down and the government thinks it's going to make the economy of their country will getting chaos.
Yes Bitcoin is banned in many countries. Like my country is banned. Bitcoin is banned in my country because Bitcoin is free. It can not control any country. So my country also. My country's government thinks Bitcoin will have a bad effect on the economy if everyone uses the country. And they also think that if you use it, the country's currency will be trafficked abroad. People will do illegal work. But I do not think that will happen. Bitcoin will reduce the unemployment of a country. A country will improve a lot.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Indonesia forbids bitcoin for fear of bticoin bubble that can make bitcoin exchange rates rise and fall drastically in a short time, starting in 2018 the Indonesian government banned the use of bitcoin for all digital transactions in Indonesia.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Some countries have banned bitcoins as the government or the central banking system does have authority to control the bitcoin network as the bitcoin network is decentralized and due to high anonymity of bitcoin user's the user's identity is not revealed to any party so the government will not be able to impose tax on the bitcoin user's as bitcoins helps to earn more profits as we can see many early users of bitcoins are millionaires of today which makes it difficult for the government to impose tax for earning huge profits.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Indonesia forbids bitcoin for fear of bticoin bubble that can make bitcoin exchange rates rise and fall drastically in a short time, starting in 2018 the Indonesian government banned the use of bitcoin for all digital transactions in Indonesia. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Yes I think Bitcoin some country banned.my country government bitcoin not accept.my country recently banned the use of bitcoins and other digital currencies.they're think bitcoin is any problem.my government bitcoin think crimes full using and bangladesh bank has banned the use of bitcoin, a virtual cryptocurrency.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Although Bitcoin has received varying degrees of acceptance around the world, few major economies currently require the closing of virtual currency transactions such as Bitcoin. As a kind of investment product, bitcoin has no direct positive impact on the economy, but it has the danger of becoming a tool for criminal activities such as money laundering, drug trafficking, smuggling, and illegal fund-raising, and it is inconsistent with the main tone of financial supervision. It is not difficult to understand that trades are banned.
Why some countries banned bitcoin? Because some countries have had trouble with the implementation of taxation. Governments do not know how to apply the tax on the decentralized crypto currency, bitcoin. They know it's very hard to put taxes on.
In my own general point of view the country itself just consider the resources that they have if they are suitable and capable to accept bitcoin since it is a serious matter they should sure the interest of the two parties
Jump to: