Topic: why some country banned bitcoin? - page 27. (Read 10262 times)
Officials are actively engaged in corruption, prohibition bitcoins they believe that fighting corruption.
they are afraid that the country's currency is going down, and bitcoin is the main currency
Yes, I think so and I guess it is the matter of trust of individuals. People don't just trust easily and don't want to accept another currency. Also, I think some country banned Bitcoin mainly because of the government. Like what you have said, they are afraid that Bitcoin takes the big part of all the people's life there and causes to the economy to drop-off 
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
The government fears that can not control. From the point of view of security and from the point of view of taxation. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Some countries are banning bitcoin in their area because they have their own specific reasons. We must be aware that it doesn't have any tax and once it is legalized, the country will surely suffer without tax, unless they put some tax on it. The government will surely suffer first because the users will abused the use of bitcoin once it is legalized.
they are afraid that the country's currency is going down, and bitcoin is the main currency
According to my opinion Bitcoins are banned in china and many other countries because their government won't be getting proper taxes as time period from each of their citizen. As a result the country has to take these step of baning Bitcoin system because they find it as an obstacle to get taxes from citizen .if they government doesn't get taxes then they won't be providing services and development of country would be interrupted because of improper tax payment.
the circulation of bitcoin is illegal, because it is not reachable by the central bank. but but I think it does not affect the bitcoin user, we still can use bitcoin, and in my county we are not get penalty for using bitcoin individually.
Some countries ban bitcoin because their lawmakers think that it is difficult to regulate and bitcoin will be used for illegal transaction. The government also cant generate income on it because bitcoin is not taxable thus it may take negative effect on its economy.
Exactly! very well said! its because of corruptions and personal interests that's why they banned bitcoin...
They banned bitcoin in their country because they think they can't support the bitcoins value by their money
Some countries ban bitcoin because their lawmakers think that it is difficult to regulate and bitcoin will be used for illegal transaction. The government also cant generate income on it because bitcoin is not taxable thus it may take negative effect on its economy.
Cryptocurrency is frightening for banks, because it is open and decentralized. But it has a high level of security, it even takes some big countries to destroy bitcoin.
I think some country banned bitcoin because they will affect some investing companies in their country were some of that will affect the businesses and also they don't want other people to use bitcoin in crimes which is some countries have many illegal doing.
Well I think , the fear and fact that they cant regulate bitcoin, thats what it triggered in their mind . And also theres a possibilty that bitcoin will be use for terrorism and money laundering because you can transact here anonimously ,these also are some of their concern. And they might think that bitcoin will slower their economic progress cause they can t get the deserve tax for the government . But the suggestion is they can still operare bitcoin and other cryptocurrency but should create and legislate law to take action against abuser also releasing their official crypto exchanger might help. Providing transaction fees where they can the tax. Thats all, these are just my opinion. No matter what happen still it depends to that country if they will apply this suggestion .
Obviously for Government control the money flow is one of the most important thing, first of all for impose taxes and program the development of the country. It is clear the when a transaction is intractable and anonymous it make so hard for the Government apply the right amount of taxes. Another factor is that intractable transactions can encourage criminal activities.
Bitcoin and crypto currency is decentralised currency. No one have control on it. It's transaction is also untraceable. So it may effect negetavily to the economy of any country. Therefore some country ban on it.
Because they fear bitcoin, they can not impose a tax on bitcoin, they are angry about the presence of bitcoin, it is a real threat to the greedy banks in this world.
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 the most popular answer to this inquiry is that, they are afraid that it would be used by terrorists. And also their economy is not ready yet to go with the innovation. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
in my opinion bitcoin its not legalized of some country because they think bitcoin will affect the economy of country
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 crypto currency works on decentralized network i.e. no one can control any of the crypto transaction, not even government. So this thing can let the people not to pay the tax to the government and as no one have control to see the transaction, so it can also result in crimes. SO i think these are two main reasons.
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