Topic: why some country banned bitcoin? - page 20. (Read 10262 times)
Cryptocurrency's decentralized nature make it uncontrollable by governments and big companies... unless they started buying all of it. As we know, governments and big companies like to be in control and continue making profit to stay in power. That is why some countries are banning crypto currencies in their countries, Because bitcoin is totally a big money, of having controlling this it could make them rich as what influential person planning for this. But because they can't benefit on this, then they just banned for coming inside.
Maybe their government wants their own paper money to continue running and not be easily moved with the capability of bitcoin.bitcoin is a digital currency, and countries that have understood that potential have found bitcoin user plans for different needs, but one reason why a country forbids bitcoin because the country is experiencing the disadvantages of this very popular bitcoin.
The payment system of bitcoin if totally free and anyone can invest or exchange bitcoin without using his/her real identity. Actually, I think that Governments just ban ICOs in short-term. They just need more time to regulate Cryptocurrency and tax from it.
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. 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.
The state does have a decision to take any action. I see that countries that are banned on bitcoin are usually countries with a high degree of fear, the worry could be that bitcoin can generate economic turmoil in the country.In future bitcoin or any other altcoin is rule the all country. That time all the countries must be legalized in Bitcoin. No known should said bitcoin is banned some country.
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?
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.
Banning of bitcoin is for the reason that the government is not able to impose or collect any taxes related to bitcoi transactions. As well as many countries consider it as gambling and people are getting addicted to such investments.
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?
Some countries are feeling insecurity specially China, because if bitcoin may acceptable entity by people and businesses then it will destroy the whole banking system of will destroy, but some countries see Bitcoin/Cryptocurrency as a Hope http://www.hashtaginvesting.com/blog/5-sovereign-perspectives-on-cryptocurrency
I want Bitcoin to be adopted by a payment method, but nothing happens with enforcement.There's a variety of reasons that people would want to ban Bitcoin, there is no one blanket answer and most are situational.I think the main reason why some country in this would banned the use of bitcoin is because they don't know how impose tax from bitcoin to have income in the part of goverment.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Each country has a different policy, the policy taken by a country, in this case is the virtual currency, heavily dependent on the nature of different populations. If we see Japan allowed, because policymakers pay attention to each other's condition, is there speculation, terrorism? I hardly ever heard of any terrorism in Japan. all countries also do not want something that is not in want, it is beneficial to many people but look on the other side. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
I see that countries that are banned on bitcoin are usually countries with a high degree of fear, the worry could be that bitcoin can generate economic turmoil in the country. this is indeed quite the price because bitcoin prices are rapidly changing can indeed make an investment and its citizens can experience big losses.automatic the country should be able to anticipate a way prohibit bitcoin outstanding.Because they does not have that much potential to handle the cryptocurrency. In future bitcoin or any other altcoin is rule the all country. That time all the countries must be legalized in Bitcoin. No known should said bitcoin is banned some country.
I want Bitcoin to be adopted by a payment method, but nothing happens with enforcement.. Other countries want to go after it to get tax money from it and properly make whatever they believe they're owed.I think that countries that do not want to look to the future are banned from bitcoins.
Because the high officials of the largest banks in that country has a great influence in their government that they might made a deal to convince them to easily ban bitcoin. I'm sure of it because there should be study first on the crypto and not rushing to impose ban like that.
Is that virtual currencies are beyond the control of States and agencies responsible for the supervision of financial markets. They (South Korea) claim that "Virtual currencies are currently unable to function as a means of payment and are being used for illegal purposes, such as money laundering, fraud and fraudulent investment operations"
Banning is no word in satoshi dictionary so bitcoin no country can ban banning bitcoin is banning internet so it wont happen
(Bitcoin’s most important characteristic is that it is decentralized. No single institution controls the bitcoin network. It is maintained by a group of volunteer coders, and run by an open network of dedicated computers spread around the world ).
Probably because their banks or their certified government institution will have no control over an individuals money. No tax can be deducted. There is also this fear that it can be use to some illicit activities since it's transaction is private. Their government literally will not benefit at all (even a single cent), from bitcoin users.
Probably because their banks or their certified government institution will have no control over an individuals money. No tax can be deducted. There is also this fear that it can be use to some illicit activities since it's transaction is private. Their government literally will not benefit at all (even a single cent), from bitcoin users.
I think the reason behind that they banned bitcoin is their country is not yet well-developed so the people ans the business will suffer from incompatibility of each other.
There are many countries which banned bitcoin in their countries. There are several reasons beyond this bane. The foremost is the inflation of country is increasing due to this because through this the income level arise due to this the flow of cash comes to a country the people hold foreign currency and they used that currency.
Some states banned their country in using cryptocurrencies as they cant control the massive demands and the people using it.Laws and Regulations in using it has been an issue for the past months as it has been used in illegal activities and number of fraudelent acts and scams increased in numbers. Also, the regulations over implementation of tax over it is just another reason why.
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?
Some country is banning bitcoin its because they can’t control it. Most of all some criminals are using bitcoins to do their evil work like selling drugs, how to put a tax on it and many more. Bitcoin’s capability is magnificent that most of its user is anonymous, it will be difficult to know how is the person behind that address or account. Also, in every state, they have their own rules, laws, and rights to ban bitcoin for some reason. But some countries are now accepting bitcoin because they know that bitcoin is helping their economic situation. Like if you cash out your bitcoin or convert it into real money and buy some stuff or pay some bills it will go to the financial wealth into your country, I think that most of the thing that you purchase or pay has some added tax on it.
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