why some country banned bitcoin? - page 48.

Hell-raiser

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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?

If we look at countries which outright banned Bitcoin like Venezuela or which are openly hostile toward cryptocurrencies in general like Indonesia or Russia, we will see that these are the countries with weak currencies and high inflation rates. That means that the governments of such countries are afraid of the competition that Bitcoin as well as other cryptocurrencies could create for their national fiat currencies. To me, this is one of the most plausible explanations.

quocsi

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They forbid bitcoin because the government did not levy bitcoin .. and thought it was not good for the country. They do not know that high income people, the new country is growing.

mdripon

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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?

bitcoin is a digital currency and, it is easy to transition with other. but the value of this currency is not stay the status. so many country this coin not accepted.

webdevmastery

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Quote from: Reid on October 30, 2017, 05:28:14 AM

Quote from: crg99 on October 30, 2017, 05:25:26 AM

The Big problem is, people who do corruption can hide their money in Bitcoin. because you can sink ~10k$$$ into 2dime LOL Cheesy

and the bitcoin still not Taxed, so people can have house with hiding their income tax

That could be the main reason behind it.
They wont get anything from so they will take it in force.
Being free in one country, they take you like a terrorist.
It is sad but it is also the truth.
You cannot live now without paying up for the government, you will always do it for them.

Yeah its true you can use bitcoins for illegal transactions like buying drugs or guns online and N.B.I. will have a hard time to trace it but i hope that everyone will follow the rules and bitcoins will be available for every country.

Reid

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Quote from: crg99 on October 30, 2017, 05:25:26 AM

The Big problem is, people who do corruption can hide their money in Bitcoin. because you can sink ~10k$$$ into 2dime LOL Cheesy

and the bitcoin still not Taxed, so people can have house with hiding their income tax

That could be the main reason behind it.
They wont get anything from so they will take it in force.
Being free in one country, they take you like a terrorist.
It is sad but it is also the truth.
You cannot live now without paying up for the government, you will always do it for them.

crg99

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The Big problem is, people who do corruption can hide their money in Bitcoin. because you can sink ~10k$$$ into 2dime LOL Cheesy

and the bitcoin still not Taxed, so people can have house with hiding their income tax

Miniel

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Quote from: hurain on October 28, 2017, 02:35:05 PM

Quote from: hyunee on October 26, 2017, 11:25:41 PM

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

They also fear that people would really put all their money to bitcoin not on the bank. As they cannot touch bitcoin they would probably banned this. Since it is a decentralized organization and government can't really touch them all they have to do is banned them. I'm afraid when it comes to our country as well.

In case of paper money there are different types of tax which are implemented on money of the people like withholding tax, sale tax or other taxes but in case of bit coin it was a fear that the people will keep all their money in the shape of bit coin so their banks will stop working.

I have to pay taxes in my country if i want to cash out my bitcoins it is not that bad for me because if you cash out a huge amount it does not seem like anything when you pay the taxes form it and it is not only the taxes.

d1ceplayer

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Quote from: Faxmate on October 28, 2017, 01:28:16 PM

Quote from: darkangel15 on October 27, 2017, 02:11:51 AM

because all the big changes are afraid that the commissions will be cut off because they have built-up structures and frightened their owners and scared the money-holders who have won big money from it.

I think they just want to give some more time to bitcoin and they are looking to other countries who’s accepted bitcoin may be they want to see the changes first in those countries but there is no doubt that bitcoin can play a big role in in economy of any country so I’m sure very quickly these countries will accept bitcoin as well.

They must have their reservations about bitcoin so they banned bitcoin in their respective countries, otherwise many other countries have promoted bitcoin in their countries and the people are using and investing in bitcoin for their daily routine expenses.

May some countries doubt about the fairness of bitcoin and they afraid of scams that’s why they have banned bitcoin. I don’t think that there should be any other reason for bitcoin banning.

meomeo2

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When bitcoin exceeds $ 5,200, JPMorgan Chase & Co. with Wall Street competitors demonstrating their willingness to engage in business and virtual currency research.

Usafstar

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There are many countries which banned bitcoin in their countries. There are several reasons beyond this bane. The foremost is the inflation of country is increasing due to this because through this the income level arise due to this the flow of cash comes to a country the people hold foreign currency and they used that currency.

john70

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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?

Some countries fear that bitcoin would be used for money laundering and also they would lose tax revenue.They feel that bitcoin would be used for illegal activities also.So,they are interested in banning bitcoin.

jagdeepjd

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I think the small countries are the one who are thinking to ban or banned bitcoin. their government is skeptical about bitcoin how it works and as it is decentralised may be it could be used for some illegal means .

but i do believe once they will understand bitcoin and whole cryptocurrency thing how it works they will cewrtainly rethink about it and start regulating .

Restmand

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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 the bitcoin because it is only burden to their economics and other thinks if they allowed bitcoin there's a chance to lead in their economics that's why theu banned it. And like the bank, im sure that the government banned the bitcoin because ita become burden inghe bank too. Because if people know about the goos benefit of the bitcoin i think they go afyer the bitcoi because we know that the bitcoin can't collect any interest on us and also can't collect the tax

n0ne

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DGbet.fun - Crypto Sportsbook

Quote from: Omega Weapon on October 29, 2017, 03:03:27 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?

The reasons are painfully obvious, governments are seeing bitcoin as s threat to their power and they are right, bitcoin is a currency and as we know money is very powerful and governments have the monopoly to print as much as they want and they are able to cover their expenses with that if they no longer got that then they will need to become smaller and that is something they do not want.

That's a reason, another thing is the ease of illegal activities with bitcoin. Much of the illegal activities were taking place with USD, but governments were not in a state to accept it and fear bitcoin might make illegal activities more easier. Another thing is the lack of technology growth, most of the technology wise developed countries have already shown positive support for bitcoin. Maybe in future looking the growth of those countries the governments that oppose bitcoin might show interest on bitcoin.

ashfer

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https://luxantdigitalbank.com/

As per my view i think that some countries started banning bitcoins as they feel it as something which is against their government and they feel like people are cheating on tax by investing in bitcoins and they see it as a threat for their nation.They even feel it as a threat because there is no role for any government in bitcoins as it is a decentralized platform and nobody knows the the identity of the bitcoin holder and it does'nt need any personal information to make transaction from any part of the world and they don't need any information on how and from where the money came for investing in it and so the government doesn't feel safe.

Omega Weapon

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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 reasons are painfully obvious, governments are seeing bitcoin as s threat to their power and they are right, bitcoin is a currency and as we know money is very powerful and governments have the monopoly to print as much as they want and they are able to cover their expenses with that if they no longer got that then they will need to become smaller and that is something they do not want.

humanCNC

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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?

Maybe, They think that btc facilitates criminals who commit criminal offenses, especially money laundering. In other words, some countries can't control using btc of people. They found that the government did not receive any benefit from that, so the ban was issued.

AmeSakibimasu

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lots of people are asking for curiosity about why bitcoin was banned in some of country. Because they are using for illegal process. Government think that bitcoin was a scammer and also most of people in their country used bitcoin for illegal drugs but other country are not banned because they have responsibility to handle, use it in legal process and they are focus on what they need for their future.

joanshu

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some country ban bitcoins as they think that they are working for something is illegal or they might got a wrong idea about bitcoins that it is something like the black market maybe that is the reason it is banned in some countries .

ace9989

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The reasons are they don't see bitcoin as a legal currency , and they think that bitcoin is not issued and controlled by a central banks. And they don't have any law or regulations on how bitcoin can be used in their country.

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