why some country banned bitcoin? - page 3.

Dikpora77

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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 bitcoin is still considered vulnerable, and legal protection is also not maximal. so many countries are hesitant to accept, the state just wants to protect its citizens, so the country needs to examine more about bitcoin before legalizing it

Pepito Manaloto

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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?

We all know that bitcoin is a decentralized currency which means no one has control over it even those who are in the government. Since that's the case, officials just chose to ban bitcoin since they cannot gain benefit from it. If ever bitcoin would be under the government, things will surely change into either much worst or better.

chromosomes

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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?

They all have different reasons why they've banned bitcoin within their area. Most of them banned bitcoin because they see it as a threat to their economy since extra fees when transacting it is nowhere to be found making it tax free. Some countries also reasoned out that bitcoin can be a good medium for felonies wherein criminals will be anonymous during the transactions.

rxthree

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Not being able to control it, they don't gain from it, they are afraid of the fact that it is a Ponzi Scheme, user anonymity, tax invasion, highly scam related and finally they it is a treat to their economy due to Bitcoins volatility and so on. These are some of the reasons why some countries ban the use of Bitcoin.

Selbit

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Some countries banned Bitcoin because they don't want to accept changes. Also they knew that if they allow Bitcoin in their country their would be a big impact in the market because a lot of people will choose to use Bitcoin. And lastly they are afraid that they can't control Bitcoin and they can't charge a taxes.

Ms Emi

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Still on the topic, they banned Bitcoin in the reason that they were affected by it's negative impact on their country.rather than it's advantage....

kirito1614

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Bitcoin is decentralized which implies it can't be saddled and furthermore if their natives would ready to think about bitcoin then propensity on concealing their benefits on crypto frame would conceivably happen which they would truly experience considerable difficulties on following up knowing bitcoin is a mysterious stuff as well and furthermore they do trust that it can truly expand wrongdoing on their place.

ohkkstaaahp

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In my opinion, they do not really see the benefits that Bitcoin brings. There are two things that are bad and good in Bitcoin, and Bitcoin's acceptance of bad things is normal. economy. But look at the benefits Bitcoin has given us. Consider and accept them as a second currency for the world.

vanjava

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Because it harms the country itself and also affects the value of the country's currency. Even a country's economy may decline. Many people are misusing for bitcoin investments with corrupt money so many countries are banning the existence of bitcoins.

Coinnosaurus

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Because btc transactions are encrypted and while they can be tracked by involved parties, bitcoin provides a way to keep money and transactions away from the prying eye of the regulators. There is a risk that btc could be used to fund crime or illicit terrorist activity

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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 some country banned bitcoin because the government do not know what is importance of bitcoin, and their goverment does not get a tax. so they banned cryto.

miang

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Some countries ban bitcoin mostly because this currency can't be regulated by governments. Your transactions and money are kept without eye of regulators.

MMysterious

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Quote from: adjong on April 16, 2018, 12:09:34 AM

because their government does not get a tax so they do not want to enter bitcoin in their country because they will not benefit but only people who know bitcoin. because only the bitcoin benefits are the banks where they are getting the money

Most banks if not all are actually against bitcoin as they will never have the chance to control it just like what they are doing currently trying to influence everything to their advantage. Countries can actually impose tax on bitcoin if they want but most governments are under the pocket of huge businessmen.

adjong

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because their government does not get a tax so they do not want to enter bitcoin in their country because they will not benefit but only people who know bitcoin. because only the bitcoin benefits are the banks where they are getting the money

Captain Sneeze

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Quote from: macartem on October 20, 2017, 01:29:18 PM

because they don't know how to demand taxes from this, and still fear for the economy of the country

I strongly agree on your opinion that, bitcoin is banned in some countries because they don't know how to demand taxes from this, and still fear for the economy of the country. And adding also my opinion that, 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. In addition, Bitcoin is decentralised and thus these governments cannot control it, the main issue with this is that they cannot tax it effectively.

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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 some governments banned bitcoin maybe because of its security. We know that bitcoin is not that secure or in short, not fully legalize and doesn't have a formal basis. Also, it do not have a suren positive future. Bitcoin having a negative image is also a reason why they banned it. In addition, the developer of it is still unknown.

adytran

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I think BTC is effected to government power. Money is power of any country and banking is a most inportant. With crypto, the government havent control it and many thing will be happen

nozokiumi

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Some people in my country said bitcoin should be banned because government can’t control it. Beside it, The government also claims to keep all people safe from investing in bitcoin because its price goes up and down easily that in fact there are a lot of people get loss from investing in bitcoin.

Lilianaser

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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 cryptocurrency. but why some country banned this crypto?

Some countries prohibit cryptocurrency because the country has not fully believed in the technological sophistication of blockchain and cryptocurrency. These countries still consider that crypto would be detrimental to its users. Yes maybe because none of the Government that set the cryptocurrency so cryptocurrency is still very free and prone to hackers. The government of some countries forbids the use of crypto must have a very strong reason.

queennathalia

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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?

The other reason why the other countries banned cryptocurrency or bitcoin because of the politics, medias and social media. They always spread a bad news about cryptocurrencies. And the government afraid to lose their money and the other country will take it their income. That is why crypto banned on a different country.

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