why some country banned bitcoin? - page 24.

drwhobox

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- hello doctor who box

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 of them are scared because they won't even benefit anything from Bitcoin they cannot put tax on it. and some are scared because of it's anonymity that can be the reason to buy some drugs or buy almost anything illegal on the black market. they have no control of Bitcoin.

merszxc

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In my own words they think bitcoin is scam or they think that the value is very low or they dont know how to bitcoin

fayrouz

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Some country banned Bitcoin because they think they can't control the people who want to get in the Industry, they might not know yet how it helps to poor people in their country. Bitcoin helps a lot though.

BlackBeauty

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Quote from: Cammo01 on December 17, 2017, 09:36:40 AM

Governments are afraid of what they cannot control, nor monitor really!

because some countries are fear from this forum actually thought about bitcoin that some people use this forum for illegal works but they will accept this forum because bitcoin is a digital currency and its work for those who cannot manage their budget in job's salary and are really want to do something in their successful, so bitcoin is the right way for your best future.

Vendetta666

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I think may the these countries want to use their people to work for them in order to get tax from them I think they are worry about it that when they let free bitcoin in their countries so all the people will move toward bitcoin And because not all country's believe in bitcoin and they do not trust it also it is very hard to actual believe something that can give you this easily profit.

malvinlee

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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

Adv Tahmina

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It is decentralised and thus these governments cannot control it.Some countries banned because their technology still not developed enough to control bitcoin.some countries might think that bitcoin users will be free of tax while they earn much money from bitcoin.

Cammo01

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Governments are afraid of what they cannot control, nor monitor really!

Isaacck1

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Even though bitcoin is the number one cryptocurrency and also an international one, we cannot say that all the countries will let it through our country. The leaders of each country knows that bitcoin as a cryptocurrency / digital money, does not have any taxes so that it can cause the depletion in their economic status. Another one is that it can be used through buying slaves and other criminal act. These are just some of the reasons why there are countries doesn't want to let Bitcoin be legalized in their area.

R21

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Quote from: SandaraPark on December 15, 2017, 06:09:04 AM

Since the government can't control Bitcoin and can't demand taxes in it, they don't approve the usage of Bitcoin. The country's currency might also be left behind and the government is scared that it might eventually lose its value. Also, the country's economic cycle would be affected negatively.

Almost right point flashing by you, bitcoin can't control any government, it's totally free currency.

R21

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Quote from: Frank0209 on October 20, 2017, 01:57:31 PM

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.

I think rght point flashed you, bitcoin is a digital internet related currency and no need any identified valid user! anyone can hold bitcoin without any documents show.

carrash912

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It involves money laundering, corruption, crime
Money in some countries will not be used, as the whole world will use the bitcoin standard for payment in the future.

SandaraPark

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Since the government can't control Bitcoin and can't demand taxes in it, they don't approve the usage of Bitcoin. The country's currency might also be left behind and the government is scared that it might eventually lose its value. Also, the country's economic cycle would be affected negatively.

Sadnu

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Maybe they fear that they might be scam so many countries fight the bitcoin. 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.

btccointalk

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Some countries are banning Bitcoin because they don't really know the demand of it.

scarecrow2096

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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?

Because goverments want to have control over people money, that's the way, and the gov is far away from controlling bitcoins.

taiwww

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Unexpected and ever growing price of bitcoin attracting good as well as bad people. Bitcoin is an autonomous decentralised, peer to peer operating currency as a result it is quiet difficult for authorities to find the sender as well as receiver. Many money laundering business communities, drug dealers have started using bitcoin as a mode of payment. As a result countries like Australia, Japan, China, USA are banning or regulating bitcoins in their economies. Indonesia banned bitcoin completely as their central banks this bitcoin currency as a threat to their traditional currency. Indian central bank is also warning its citizens not to invest or trade in bitcoins.

AyaYotoko

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I think some countries banned it because of fear and ignorance, to protectionism of their national currency, to building a new currency in bitcoin’s image.
In few countries its banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same.

One of the reason i think is that bitcoin provides a way to keep money and transactions away from the prying eye of the regulators.

humanCNC

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bitcoin has many benefits for banks but many governments ban it because some reason as: bitcoin is affecting the interests of the bank, the government can not apply taxes on bitcoin, ...

Fujiati

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Ethernity CLOUD

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?

there is no violation of bitcoin yet, it's just that many countries have not officially regulated it, so many countries have not been able to receive payments with bitcoins. and each country has a different policy to manage its own finances.

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