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Topic: why some country banned bitcoin? - page 51. (Read 10262 times)

hero member
Activity: 1134
Merit: 517
October 27, 2017, 06:33:30 AM
I don't think any country has banned Bitcoin? Unless I'm mistaken? How would you ban bitcoins? It's like banning you playing a certain game. How would they do that? Countries have other things to worry about then Bitcoin I can assure you of that. People always talk about this or that being banned but where? How? Where is proof? Just naysay?

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 to commit guilty like tax evasion, drug trafficking,....For now there are few countries legalized Bitcoin but these countries still not able to control Bitcoin totally so I think it'll take much longer to see Bitcoin legalized worldwide.

You say it's banned because it's difficult to control? Well then how you going to ban something that is difficult to control if you can't control it to begin with?
Well a number of countries had attempted to ban Bitcoin even without sound understanding of what Bitcoin really is and its inherent benefits, only to come into the rude awakening that Bitcoin cannot really be banned and some of the countries in the list have had to eat humble pie and now seeking for soft landing. Most of them are quick to cite the use of Bitcoin for illegal activities as their reason for the ban, but from their actions and utterances, it's evident they're been driven by ignorance, as a result they became apprehensive and over protective of their local currencies 

https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/

newbie
Activity: 38
Merit: 0
October 27, 2017, 06:32:46 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?
its because of the policy towards bitcoin.. and some countries were very risky to adapt because of security
member
Activity: 70
Merit: 10
October 27, 2017, 06:30:27 AM
The government has never been in support of a program  that would bring financial freedom to the public. Remember: "whoever controls your income controls your life" some sets of fraternity call themselves politicians; either by deceiving the masses or rigging elections in most cases and then they get to control our economy... How else would it have been?
Bitcoin protocol is the way out and they would never be in total support
hero member
Activity: 2268
Merit: 789
October 27, 2017, 06:22:50 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 government does not see the development of bitcoin, I think bitcoin greatly helps the development of a country.

If the government will recognize bitcoin because of its benefits and the possible ways that will give them to help them to make more money then for me there will be no banning in bitcoin because the government are just afraid right now because of the decentralization that bitcoin has so they are banning bitcoin but if they will see the good or positive side of bitcoin then the banning will not happen.

I think that the government already is acknowledging the benefits of bitcoin to the society, and their move of not banning it is already a blessing to us. Mainly, countries ban the regulation of bitcoin since no government or organization can identify the transactions made by an individual under the dark web or the internet. Thus, it will be the perfect vessel for offenders to use it as a medium in order to buy illegal drugs, child pornography, etc.

Personally, I believe that the positive effects provided by bitcoin supersede the negative effects of its decentralized nature in the market. To think that bitcoin has the method of earning extra income already defeats the negative effects since most of the population nowadays are on the marginalized sector. It serves as an equalizer to the society since everyone has equal opportunities or rights to earn one.
hero member
Activity: 2590
Merit: 644
October 27, 2017, 05:45:23 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 government does not see the development of bitcoin, I think bitcoin greatly helps the development of a country.

If the government will recognize bitcoin because of its benefits and the possible ways that will give them to help them to make more money then for me there will be no banning in bitcoin because the government are just afraid right now because of the decentralization that bitcoin has so they are banning bitcoin but if they will see the good or positive side of bitcoin then the banning will not happen.
sr. member
Activity: 280
Merit: 250
October 27, 2017, 04:44:55 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 government does not see the development of bitcoin, I think bitcoin greatly helps the development of a country.
sr. member
Activity: 1694
Merit: 268
Binance #SWGT dan CERTIK Audited
October 27, 2017, 02:20:26 AM
Sone government has banned because people are doing illegal activities through bitcoin.In my country bitcoin is banned for money laundering.We all know bitcoin transaction is untraceable and bitcoin is not handled by anyone.That's why some bad people are taking advantages of it.Also bitcoin is tax free, so many people transferring their fiat to bitcoin and saving money.This is not acceptable by government and so they banned bitcoin.
newbie
Activity: 56
Merit: 0
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.
member
Activity: 294
Merit: 11
October 27, 2017, 02:02:17 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 forbid bitcoin where they might be because there are concerns about the security of bitcoin transactions for its citizens so the country forbids bitcoin to protect its citizens
member
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October 27, 2017, 01:53:25 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 its all about tax. It's hard to monitor tax. I mean, why would someone declare the payout here on bitcoin? It's like asking someone to take a percentage of your hard earned money. I know tax is a responsibility but if others are not paying it would I.hahaha BTW, implementing tax on bitcoin will be expensive so they just ban it in other countries. We are lucky to have bitcoin, it will be sad if its banned.
sr. member
Activity: 476
Merit: 255
October 27, 2017, 01:35:02 AM
You must have known that bitcoin is currently the hot talk of bank owners, and bank owners have a strong network with governments in each country.
With the bitcoin, banking business performance is expected to decline.
Therefore the bank owner asked the government to take a policy on this matter, so the problem not be severe. And the government will consider this issue of how profitable it is for their country. Banks clearly provide benefits to the country with the various methods they have, but how about bitcoin? I think that's why.
Do you get the point?
full member
Activity: 462
Merit: 102
October 27, 2017, 01:34:12 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 because it deviates the cost of their fiat money because of hiw much bitcoin costs now. It would troublesome for a country that do not know what they're dealing with. I also think they're banning coins now in order to further study it to make something out of bitcoins.
full member
Activity: 360
Merit: 100
October 27, 2017, 01:31:31 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 are not in favor of using bitcoin and other crypto currencies, simply because they haven't tried it yet. Perhaps they heard some bad things about bitcoin that made them decide to not tolerate it's use in their respective countries.
sr. member
Activity: 618
Merit: 250
October 27, 2017, 01:24:49 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 are some countries that ban ICO activities and not Bitcoin as you claimed. Country like China ban ICO and local exchange company because of their illegal activities contrary to the laws in China.  In recent time many ICO are becoming scam project day after day and there is need for the government of country to check mate their activities in other to protect her population from being scam.
The reason why some other country banned bitcoin because some user of bitcoin they use it in illegal activities, like buying drugs ang weapon, and some goverment they didnt like it because they cannot control or manipulate the bitcoin, and also because of all country have rules and laws, like paying taxes, bitcoin dont pay taxes.
full member
Activity: 406
Merit: 100
October 27, 2017, 12:56:05 AM
The main reason for this ban is it's really really difficult to control Bitcoin.
They might have seen the threat that bitcoin could bring in there economy. Huh Huh Huh
sr. member
Activity: 490
Merit: 250
October 27, 2017, 12:35:05 AM
I think some countries banned Bitcoin in fear that can or will compete with their own currency. For some governments implementing Tax on Bitcoin can be a difficult task and more expensive than banning.

List of top 10 countries that banned Bitcoin is: Bolivia, China, Equador, Iceland, India, Russia (Gov. is working on legislation) Sweden, Thailand and Vietman.
sr. member
Activity: 420
Merit: 252
October 26, 2017, 11:27:18 PM
So far, the BTC remains legal or unregulated in most countries, the strange thing is that it is only banned in third world countries, this proves how much state control over a society is harmful
full member
Activity: 476
Merit: 100
October 26, 2017, 11:25:41 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.
newbie
Activity: 51
Merit: 0
October 26, 2017, 11:15:03 PM
every country have taxes. but if u put or gain money in bitcoin, u didn't get taxes. i think thats why bitcoin not supported in some country.
member
Activity: 446
Merit: 13
October 26, 2017, 11:11:54 PM
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?

 Smiley I hope my quick research about this could help. Check the list below:  Wink

CountryReason of Ban
South America
BoliviaNot controlled by a government or an authorised entity
EcuadorEstablishment of a new state-run electronic money system
Central Asia
KyrgyzstanThe sole legal tender on the country is the national currency of Kyrgyzstan som
South Asia
BangladeshAnti-money laundering laws
         

       

   
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