Topic: why some country banned bitcoin? - page 16. (Read 10262 times)
The lawful status of bitcoin shifts considerably from nation to nation is as yet indistinct or changing in a considerable lot of them.[1] Whereas the greater part of nations don't make the use of bitcoin itself illicit, its status as cash (or an item) fluctuates, with contrasting administrative ramifications. While a few nations have expressly permitted its utilization and exchange, others have prohibited or limited it. In like manner, different government organizations, offices, and courts have ordered bitcoins in an unexpected way.
Simply I'll say that bitcoin is decentralized lised and therefore isn’t controlled by anyone. As we know that the hovernments form a currency since they like to control the currency. They control it through the central bank. They also like to know who has it, where it is, where it’s going. While they can't treat bitcoin like the currency. Thus, I might conclude that they fear of what they can't control.
That is a normal reaction from something that is threatening their entire system. More so because the people are beginning to show strong support for bitcoin instead of banks. Bitcoin on the other hand is a peer to peer transaction without the middleman.
I'm not sure why they did that but that they or the government has already thought about many things and many aspects before making that decision. I think the government is trying to protect the state's financial circulation
Some countries banned bitcoins for various reasons. Bitcoin is being exploited, as some terrorists have used bitcoin to illegally purchase weapons. That makes every country feel very anxious. Therefore, many countries prohibit bitcoin, although bitcoin brings a great profit. Although bitcoin is banned by many countries. But it will not affect the value of it.
Because of anonymity attached to Bitcoin it is banned in many countries. It can come as an aid for money laundering and also in lot of criminal activities. It will be difficult for government to keep a track of these activities and to control it
Hello. in my opinion, some countries have forbidden bitcoin and other crypto coins because they are unable to control them, to tax them, and from their point of view they will carry out dangerous transactions with these coins
In my humble opinion on this, Even though there are a lot of good things Bitcoin has to offer, some governments are still not very welcoming to it maybe because they are not getting anything from it and they don't know how they can get taxes from it since it is decentralized in nature.
When governments ban crypto, I think they do so because they want to create fud and prevent mass adoption of crypto as a form of currency. Some say it's because they want to benefit themselves in doing so, crashing the markets to buy lower.
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 banned bitcoin due to its effect on the economy of the country. Their people tends to buy or engage into crypto rather than investing into new projects or businesses launching in their lands. 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?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Most countries banned bitcoin due to its effect on the economy of the country. Their people tends to buy or engage into crypto rather than investing into new projects or businesses launching in their lands.
They banned bitcoin because of tax, they will not get the tax from bitcoin that the government need to fund the country, and its hard to regulate bitcoin, and they afraid about the securities in bitcoin.
because they don't know how to demand taxes from this, and still fear for the economy of the country
yes I agree with this
Trading and mining of all types of crypocurrencies are banned by other countries, as well as ICO websites because they believe that it has some security, transaction, and financial risks to its users. They also fear that it can be used on illegal activities such as buying drugs or other weapons. Despite of these, some countries still allow its use and exchanges, but they keep on reminding the citizens to be careful on the possible risks that it may cause them. Every government have their own rules and reasons why they ban such cryptos and we cannot blame them because they are just doing it for the welfare of the users and the country as a whole.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
because they are afraid of what crypto can bring,they are no knowledge about this whole thing,all they know is the negative side of cryptocurrency and not the positive in which can bring them bright full economy if they will only allow this great industry to grow in their region,many profiteering for the people and more jobs via internet connections is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Countries that ban bitcoin must have the excuse that bitcoin is a deceptive asset, so the local government forbids it to protect the country and its people.
Bitcoin projects as a matter of fact threatens some country's fiat currency. If care is not taken, some fiat currency will be abandoned for the cryptocurrency. Because of its decentralisation in nature, countries don't have control over it and as a result, it cannot be taxed and cannot control its operations. So, countries decides to ban bitcoin because of the above-mentioned reasons.
The reason for this is quite simple. Countries are getting big gains by taking taxes.
Banks are making big gains from money transfers because of their wages.
That's the whole point!
More countries are banned in the future.
Banks are making big gains from money transfers because of their wages.
That's the whole point!
More countries are banned in the future.
The reason for this is quite simple. Countries are getting big gains by taking taxes.
Banks are making big gains from money transfers because of their wages.
More countries are banned in the future.
Banks are making big gains from money transfers because of their wages.
More countries are banned in the future.
because if many people in a country use bitcoin they are afraid it will cause the value of their currency will decrease and it is very harmful to them
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