why some country banned bitcoin? - page 12.

nemesis_

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Quote from: mware on March 08, 2018, 01:50:29 AM

there some reason why country banned bitcoin like scams/hacks, illegal use of cryptocurrencies and a lot of problems with crypto being used on the black market. besides they also want to make regulators with new taxation laws

These days, many countries may start accepting bitcoin but still, there are some who refused to legalized this. Lots of factors may contribute it. But I guess, it is more on the fear of the government to the threat it could bring to the economy. It may affect the country and every citizens. Bitcoin may already prove us its potential, but we still aren't sure of what it could bring to our country.

heraldlazaro25

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Quote from: rajuahmed763 on October 19, 2017, 09:26:17 AM

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

I think why some countries ban bitcoin in their place is because of its disadvantages that greatly affects their country. One of its many disadvantages is, it can increase the crime rate of a country. That is because bitcoin can be used as a currency to buy some illegal guns and drugs in the internet.

dokai

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The main reason for this ban is it's really really difficult to control Bitcoin. Bitcoin transaction is anonymous so it's nearly impossible to find out the owner of any transaction. Beside countries banned Bitcoin because their technology still not developed enough to control Bitcoin and its disadvantages to prevent crime take advantage of Bitcoin to commit guilty like tax evasion, drug trafficking,....For now there are few countries legalized Bitcoin but these countries still not able to control Bitcoin totally so I think it'll take much longer to see Bitcoin legalized worldwide.

kimjin

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The legitimate status from claiming bitcoin varies significantly from country will organizations in the nation and will be still undefined or evolving Previously, a lot of people for them. Whilst those greater part of nations don't settle on those use of bitcoin itself illicit its status Likewise cash varies, for varying administrative suggestions. Same time some nations bring unequivocally permitted its use Also trade, others need banned alternately confined it.

knight20

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Because they don't know what is really bitcoin. They think that bitcoin could affect their economic status. And because of social media banned bitcoin they think bitcoin is really a scam. But we can't blame them they just want to reduce the scam victim.

Old Bindu

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Countries that prohibit bitcoin and cryptocurrencies there are countries with totalitarian form of governments. For example, North Korea. This is a typical example of a totalitarian state.

Boknoyz

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Some country banned bitcoin because There are have a own rules of his country. They thing that if bitcoin login our country it will be more harmful for our country so those country banned bitcoin, Actually they don't know what result of bitcoin and they're don't know about bitcoin so they don't understand and they banned it.

khurramshah

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Some country banned bitcoins because they feel that they think that if they legalise the bitcoin their own currency value may be down or people not using the paper currency so they feel thy find it difficult to trace the bitcoin transactions to updated in technology or reluctant to adopt the new development in technology.BTCBTCBTC

Minerfortyniner

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Because it is decentralized P2P open source digital currency. Governments can not control bitcoin or any other cryptocurrency
like they can with the central banking system. So it's just easier to outlaw them. I don't believe they will stay outlawed in those countries.
Mainly because I beleave that cryptocurrency is the future of money. As a matter of fact I predict by 2050 we will no longer use fiat money.

Milonsa

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Quote from: rajuahmed763 on October 19, 2017, 09:26:17 AM

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.

MS.LAWLIET

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Quote from: rajuahmed763 on October 19, 2017, 09:26:17 AM

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

Some country banned bitcoin because the government can't control it from the collection of taxes up to the transactions it does. it can be possibly used for illegal transaction that some government are trying to avoid.

mware

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there some reason why country banned bitcoin like scams/hacks, illegal use of cryptocurrencies and a lot of problems with crypto being used on the black market. besides they also want to make regulators with new taxation laws

oracleongoodbye

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Because other countries around the world have a wide ranging view of the digital currency bitcoin or a “virtual currency.” Western superpowers like the United States and United Kingdom have shown a positive attitude towards the new technology. Some countries like Canada and Australia are still deliberating on what to do about Bitcoin, legally. And the many others have already made their decision against digital currency as a whole, and bitcoin, in particular, so here we’ll list the ten places you’ll find the most trouble using bitcoin. Keep in mind not recognizing or supporting the use of bitcoin and banning bitcoin are two different things. This article focuses on those who ban bitcoin legally, or in practice.

Aileen C.

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I only knew few countries that banned bitcoins but other countries are accepting it , and some are still on the process of knowing btc.

cryptotaste

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I think the reason why countries are banning bitcoins is because governments don't know what to do with bitcoins yet. They do not have full control on it. So they will be banning bitcoins first and then just lift the ban once they regulate bitcoins or something. That's how I think South Korea addressed the problem with cryptocurrencies.

Kadal Ijo

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Quote from: edwardnortonn on March 08, 2018, 12:21:31 AM

Quote from: rajuahmed763 on October 19, 2017, 09:26:17 AM

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

most countries consider BTC a threat to their economic growth mostly due to large amounts of transactions that arent taxed. some also see it as a currency that funds illegal proceedings hence terming it illegal.

Yes, anonymous features make bitcoin feared to be a place for illegal activities, in addition to being used to avoid taxes and illegal transactions, if bitcoin is legalized it can make the legal currency continue to lose its popularity.

Sergey190785

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bitcoin and all-kriptovalyuta-this is bypassing banks. States and banks of course do not like it, but over time, the banks will crowd out the crypto currency.

joan26

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Because there is a risk that it could be used to fund crime or illicit terrorist activity, another reason is that it can be a route to circumvent capital controls, that's why some other countries ban bitcoin.

edwardnortonn

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Quote from: rajuahmed763 on October 19, 2017, 09:26:17 AM

why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

most countries consider BTC a threat to their economic growth mostly due to large amounts of transactions that arent taxed. some also see it as a currency that funds illegal proceedings hence terming it illegal.

Raufjoze

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Quote from: malvinlee on December 17, 2017, 10:19:25 AM

I think they banned the bitcoint bcos they think bitcoin can be break their economy infact bitcoin is good for their people bcos the can earn the big money and can pay big taxes for the country

They should investigate more about bitcoin so they can find interesting things and thus bitcoin can show that it is not just about illegal things because it can be used also in a legal and profitable way. Because what they know about bitcoin, they only know that bitcoin is used in different illegal transactions so they just think that bitcoin is a bad influence for people to use it as a form of payment.

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