why some country banned bitcoin? - page 31.

OffHold

newbie

Activity: 26

Merit: 0

Quote from: Fatunad on October 20, 2017, 03:33:00 PM

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?

Why they ban it? Bitcoin is a decentralized stuff which means it cant be taxed and also if their citizens would able to know about bitcoin then tendency on hiding their assets on crypto form would possibly happen which they would really have a hard time on tracing up knowing bitcoin is an anonymous stuff too and also they do believe that it can really increase criminality on their place.

only country known for doing this is Morocco, haven't find any fruther information about other country with these kind of restrictions.

AwpDragonPoor

full member

Activity: 161

Merit: 100

No taxes, really hard to trace, affects the countries economy badly, as people are converting all their fiat to a crypto. The government can't benefit off bitcoins so they will ban it. Thats what governments are, shady and greedy.

RKSummer

full member

Activity: 337

Merit: 100

Quote from: syamster on October 20, 2017, 01:21:51 PM

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?

Well 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 they will start to get their money from bitcoin so I think that can be a reason which is a wrong decision by them.

Some country banned bitcoin, because their country can't get any tax from every transaction that uses bitcoin like paying bills, investments and trading. That the taxes are not applicable to the conversion of between traditional currency and bitcoin.
And their country are afraid to use bitcoin as a future currency. If they can't get taxes from it, less assets they will get.

care2yak

sr. member

Activity: 779

Merit: 255

bottom line is because they can't believe that ordinary people are earning so much through bitcoin and other crypto assets, and that they can't impose any taxes or apply sneaky corrupt practices to get a portion of what bitcoin users own....

LTCendmanagement

member

Activity: 518

Merit: 10

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 has no physical, no central ownership like a bank causes bitcoin to be banned in different countries. However that does not stop the development of bitcoin, in will continue to grow into a giant cryptocurrency.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: heureca on December 01, 2017, 09:37:18 AM

Quote from: _MrTuyul404 on December 01, 2017, 06:59:22 AM

bitcoin prices are very volatile, and very risky for ordinary people to invest, and a country banned bitcoin probably because its government is afraid, people lose money for trying to invest in bitcoin

I suppose governments afraid of instability of country economics. At present criptocurrency capitalization is big and could influence on contry economics.

Of course the government's focus is on their economic influence when bitcoin comes. bitcoin can make the country's economy crumble because one of the country's have biggest income is from taxes. and bitcoin makes a lot of people invisible and could be spared taxes. that's what makes bitcoin a threat to the government income. and make the government ban bitcoin

ShiroThe5th

member

Activity: 168

Merit: 10

because some country the crypto currency is just a money in a game and cannot be transfer in money and they think that bitcoin is not the highest amount of currency.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: sumangs on December 01, 2017, 10:23:51 AM

They see bitcoin as a threat to their own currency and they can not control it because they do not own it. What could they do is regulate it by making laws about it and it will also takes time so they just better ban it.

not just a threat to their currency. but also a threat to the country's economy. How come ? bitcoin has decentralized and anonymous properties that will make the user uncontrollable and invisible there will certainly be many bad things like embezzlement and other bad things, that's why the government forbids bitcoin

AmeSakibimasu

full member

Activity: 228

Merit: 101

Quote from: heureca on December 01, 2017, 09:37:18 AM

Quote from: _MrTuyul404 on December 01, 2017, 06:59:22 AM

bitcoin prices are very volatile, and very risky for ordinary people to invest, and a country banned bitcoin probably because its government is afraid, people lose money for trying to invest in bitcoin

I suppose governments afraid of instability of country economics. At present criptocurrency capitalization is big and could influence on contry economics.

And that is bullshit for the Government that is banning bitcoin without knowing the whole story about it, they judge bitcoin easily just because of those people mistakes who got scammed by other people using bitcoin, it is not Bitcoin's fault if they get scam, it is their stupidity and being naive. So it is unfair for those who are earning money through bitcoin if the Government will ban it.

Ruetli

newbie

Activity: 14

Merit: 0

Because governments like to control the money supply via their central banks and the incoming and outgoing money transactions. Also they fear that cryptocurrencies make it easier to conduct tax evasion and illegal transactions.

MisterPrada

full member

Activity: 179

Merit: 106

Here is a reason: Governments, first thing they do is from a currency. They like to control the currency. They control it through the central bank. They also like to know who has it, where it is, where its going

tengek37

full member

Activity: 322

Merit: 100

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 may be some Bitcoin features that violate state law.
such as sender and receiver Bitcoin anonymus so that the government can not detect the perpetrators of the transaction.

sino22

sr. member

Activity: 438

Merit: 250

Quote from: heureca on December 01, 2017, 09:37:18 AM

Quote from: _MrTuyul404 on December 01, 2017, 06:59:22 AM

bitcoin prices are very volatile, and very risky for ordinary people to invest, and a country banned bitcoin probably because its government is afraid, people lose money for trying to invest in bitcoin

I suppose governments afraid of instability of country economics. At present criptocurrency capitalization is big and could influence on contry economics.

I think it could be, and if not, I think, not all countries willing to accept BTC it is possible that the country is afraid of entangled in large debt, which is used for investment.

sumangs

full member

Activity: 644

Merit: 101

They see bitcoin as a threat to their own currency and they can not control it because they do not own it. What could they do is regulate it by making laws about it and it will also takes time so they just better ban it.

Bugoy.koykoy

member

Activity: 75

Merit: 10

I think because some countries dont know how to control ng system and also government doesn't connect to bitcoin and no issue taxes thats why they come up to ban it instead.

ecbxgnyn

newbie

Activity: 2

Merit: 0

They do this in order to protect themselves, the specific explanation is to protect the economy of their own country, which is to protect their own power.

loof99

sr. member

Activity: 524

Merit: 258

They banned bitcoin not because they think it is illegal but they do some actions to prevent problems since there are not yet capable enough to adopt the changes.
Through this they just protecting the interest of both parties.

Lhaine

full member

Activity: 742

Merit: 128

Coinbene.com - Experience Fast Crypto Trading

Quote from: _MrTuyul404 on December 01, 2017, 06:59:22 AM

bitcoin prices are very volatile, and very risky for ordinary people to invest, and a country banned bitcoin probably because its government is afraid, people lose money for trying to invest in bitcoin

Maybe that's one of the reason but i see another can be the reason, government doesn't connect to bitcoin, i mean in any transaction they can not get any tax even those bank can't get a fee with bitcoin.

heureca

sr. member

Activity: 658

Merit: 250

Quote from: _MrTuyul404 on December 01, 2017, 06:59:22 AM

bitcoin prices are very volatile, and very risky for ordinary people to invest, and a country banned bitcoin probably because its government is afraid, people lose money for trying to invest in bitcoin

I suppose governments afraid of instability of country economics. At present criptocurrency capitalization is big and could influence on contry economics.

Bitcoinismylife12345

member

Activity: 231

Merit: 10

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 we all know that bitcoins are cannot be controlled by the government so it can't be taxed, also the possibility of criminality will be higher owing to the fact that bitcoin is anonymous so evil doers can make evil transactions anonymously. It is true that bitcoin can help every people in every country but it can be one of the threats to thier own local economy.

Topic: why some country banned bitcoin? - page 31. (Read 10262 times)