why some country banned bitcoin? - page 30.

aso118

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Quote from: Easteregg69 on December 02, 2017, 08:52:29 PM

Hey. How bout the good old scapegoat China ?

China is different. If a country bans Bitcoin, I expect it to have a set of reasons (most likely unreasonable ones like use in crime, money laundering, tax evasion, etc.) China doesn't need a reason to ban anything.
If they can set up a wall around the internet, they definitely can try to stop bitcoin.

badungs

sr. member

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i dont know what is real reason. but i think some bank afraid about bitcoin, afraid if their customer will not use bank again (absurd reason if they think like this, because we need bank to withdraw our money)
if they (bank and government) thinking more about bitcoin, it will be some advantage for country. invest in and hire people to work on bitcoin, develop it, it will earn add income.

kiki52

newbie

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i think some country not trust yet with bitcoin. but maybe over time bitcoin will become a trusted currency for people and countries. because now there are so many people who use bitcoin and invest their money into bitcoin.

buharikx31

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They are scarred of decentralized systems which cant be controled and regulated, so countries are trying to ban to them to have control on finance regulation, people can open access to bitcoin with VPN or other methods like proxy, but it depends on a country law if it's allowed or not

karisiak123

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countries that prohibit bitcoin, the possibility of government in that country does not permit or disallow people to do business online or there are provisions in that country

nemesis_

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The transactions take place between users directly here in bitcoin. Therefore, the transactions made can’t be traced. It can’t be controlled by the government. Without the government’s supervision, some illegal transactions may be made that may harm the country. Furthermore, in here, the government can’t issue tax to the transactions made.

ruthbabe

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Quote from: thenameisjay on December 03, 2017, 02:20:31 AM

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?

In our case, the Philippines, they're thinking of ways to ban bitcoins because essentially, the idea for them is that the Filipinos are turning bitcoin to cash; from virtually nothing to money. That maybe the case for some countries since the government does not want this from happening.

Hey, I'm from the Philippines too! Are you sure with what you said, "the Philippines are thinking of ways to ban bitcoins"? No offense, but maybe you're not aware of the following news,

Philippines Could Regulate (Legalize) Bitcoin as a Security

Philippines’ Central Bank Issues Guidelines for Virtual Currency Exchanges

Bitcoin Regulatory Guidelines Are Coming to the Philippines

Slipknot79

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I see indonesia will soon be one of thyese countries.

History has taught us that when you try and ban and control people it just has the opposite effect. Unless of course you can destroy the source.

Thats what makes bitcoin so strong. Its decentralized. There is no source to destroy!!

dharnamonitor

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Because they are just keeping their citizens away from any harm, you guys know how useful and convenient bitcoins are but they also see the risk in it. Like what if the bitcoins are being used on illegal activities? They have no control, they can't track those people plus the value of bitcoins, they might think that it's a bubble.

thenameisjay

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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?

In our case, the Philippines, they're thinking of ways to ban bitcoins because essentially, the idea for them is that the Filipinos are turning bitcoin to cash; from virtually nothing to money. That maybe the case for some countries since the government does not want this from happening.

TitanGEL

sr. member

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It is true that some countries are banned the bitcoin. I think the reason why they banned bitcoin is because of the disadvantages of bitcoin. I think they are focusing to disadvantage of the bitcoin and not the advantages of bitcoin.

ruthbabe

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Quote from: drm on December 02, 2017, 10:00:10 PM

Quote from: ruthbabe on December 02, 2017, 09:54:04 PM

Quote from: arthotdog on October 20, 2017, 02:33:07 PM

because cryptocurrencies cant be regulated,by then government wont get tax from it so they think it will bring troubles to the economy and more on banking matters.thats what i think the main reqson whybother countrys dont want bitcoin in theyre community

I think you're wrong, the use of Bitcoin can be regulated. That's what the US government is doing now and other countries that are against ICO, cryptos like Bitcoin.

The use of bitcoin in itself cannot be regulated. But you can regulate the exchanges and keep tabs on cashouts.
If you remain strictly crypto they cannot regulate anything.

It's what I mean by my statement, "the use of Bitcoin can be regulated". I based it on the news headlines below without reading its content...

Philippines Could Regulate (Legalize) Bitcoin as a Security

Can Government Regulation Affect Bitcoin Prices?

Bitcoin in India: What Happens When the World’s Largest Remittance Market Regulates Bitcoin?

Putin Confirms Russia Will Regulate Cryptocurrencies

Regulating Bitcoin: how new frameworks could be a catalyst for cryptocurrencies

bayupermana

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many countrie banned bitcoin because their governmetns still dont know the way to control bitcoin and how to tax bitcoin, because bitcoin is anonymous so it can not be controlled by any government, so they ban bitcoin, i think this is just temporary, because more and more countries have found the way to tax bitcoin, and bitcoin has brought profit to governments, so more countries will accept bitcoin in the future.

Hansili4321

newbie

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The main thing is they are fear to Bitcoin. Because bitcoin dont get caught to there thousands of filters.Bitcoin privacy is so high.They can't track how many bitcoin we holding.So they can't put tax label on that.So they have no use of that.So they put banned label on bitcoin.

iloveass2

jr. member

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You know the government afraid that they cannot control the bitcoin so they purposely ban it. With bitcoin, you don't have to pay the tax but the tax is a source of income for the government. So the fact that they ban bitcoin, they just want to get more tax from you guys. You can earn a lot from bitcoin and you don't have to pay tax, that's why they ban it.

kaizerblitz

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Because they don't believe bitcoin in there mind bitcoin is a scam a imaginary currency especially in other country most of all banks they ban bitcoin there all only accept fiat currency.

drm

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Quote from: ruthbabe on December 02, 2017, 09:54:04 PM

Quote from: arthotdog on October 20, 2017, 02:33:07 PM

because cryptocurrencies cant be regulated,by then government wont get tax from it so they think it will bring troubles to the economy and more on banking matters.thats what i think the main reqson whybother countrys dont want bitcoin in theyre community

I think you're wrong, the use of Bitcoin can be regulated. That's what the US government is doing now and other countries that are against ICO, cryptos like Bitcoin.

The use of bitcoin in itself cannot be regulated. But you can regulate the exchanges and keep tabs on cashouts.
If you remain strictly crypto they cannot regulate anything.

ruthbabe

sr. member

Activity: 966

Merit: 275

Quote from: arthotdog on October 20, 2017, 02:33:07 PM

because cryptocurrencies cant be regulated,by then government wont get tax from it so they think it will bring troubles to the economy and more on banking matters.thats what i think the main reqson whybother countrys dont want bitcoin in theyre community

I think you're wrong, the use of Bitcoin can be regulated. That's what the US government is doing now and other countries that are against ICO, cryptos like Bitcoin.

royromales

member

Activity: 163

Merit: 10

I think why other countries are banned from using bitcoin because they think bitcoin is for a toy that they just do when they do not know that bitcoin is a great help for people but others think they are bitcoin like a scam so they've been able to comment as they have nothing to do with their post

Easteregg69

sr. member

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Merit: 267

Hey. How bout the good old scapegoat China ?

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