Topic: why some country banned bitcoin? - page 53. (Read 10264 times)
They simply do not have mechanisms and policies to manage the bitcoin, which bitcoin is a kind of money, have a certain impact on the financial and economic of that country, so they forbid bitcoin
maybe the reason they forbid Bitcoin because Bitcoin can affect the fiat exchange rate in a country then many countries are banning Bitcoin in the country.
Bitcoin is untraceable so meaning that countries government won be able to put tax on any bitcoin transaction. Meaning 0% profit for thier government.
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 banned bitcoin and other cryptocurrencies because first of all bitcoin and other cryptocurrencies doesnt give you taxes so that it is not good to government so they ban it.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
That is definitely one of the reasons why some countries banned bitcoin. And perhaps because Bitcoin is a decentralized mode of payment transaction, they must be afraid that aside from them receiving nothing in return, the banks that are the ones backing up governments will become useless in the future. That is a normal reaction from something that is threatening their entire system. More so because the people are beginning to show strong support for bitcoin instead of banks.
yep, lack of tracking for tax purposes is a big one,
also too easy to move money with a click
all countries will want control of where and how their currency is being used and more importantly by whom.
some countries will want to ban simply as a regulatory safeguard to avoid citizens losing money if viewed as a scheme but highly doubtful
it will be tough to have a total ban as the electronic transfer aspect is tough to defeat.
Note, in many third world countries, american casino chips are used to pay bribes to govt officials
recipients travel to the US to collect chips and redeem for cash as needed.
In this example is it possible to ban the handling/ownership of casino chips ?
also too easy to move money with a click
all countries will want control of where and how their currency is being used and more importantly by whom.
some countries will want to ban simply as a regulatory safeguard to avoid citizens losing money if viewed as a scheme but highly doubtful
it will be tough to have a total ban as the electronic transfer aspect is tough to defeat.
Note, in many third world countries, american casino chips are used to pay bribes to govt officials
recipients travel to the US to collect chips and redeem for cash as needed.
In this example is it possible to ban the handling/ownership of casino chips ?
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 banned bitcoin and other cryptocurrencies because first of all bitcoin and other cryptocurrencies doesnt give you taxes so that it is not good to government so they ban it. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Bcz they are afraid that BTC will replace regular money of that country. Thus I'm kinda surprised that russian government is going to legalize cryptos.
Because some countries that ban bitcoin assume that bitcoin can impose their country's money value, do not believe in bitcoin technology. That's just an example of a small reason.
No country can completely ban Bitcoin. But many are against. The main reason is Bitcoin has no base as for now. It is highly speculative asset along with being decentralized. Many countries don't like these aspects. Moreover, Bitcoin started from darkweb which make people more skeptical about it. But what I think is when some major countries inherit Bitcoin in their system, then all those countries who are against bitcoin or have banned it, will rethink their decision. Right now Bitcoin isn't really mainstream. But when it will get globally popular, countries will definitely think about it and won't let it go in anyway.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
I think because these country that banned bitcoin didn't actually knew that bitcoin could them some good and positive incomes. And also I think they didn't aware of what may this bitcoin effect on the economy of world. And the last reason I see is that because government doesn't have the access to bitcoin because it is decentralized.
I think there may be several factors that make them ban bitcoin, maybe bitcoin can damage the economy in their country, or maybe they apply the principle to keep using their country's native currency whatever happens. I do not know for sure about the cause, they have their respective reasons to ban bitcoin in his country 
Each country has its own reasons for prohibiting bitcoin. But I think that soon officials will understand that bitcoin is a very promising coin that can not be forbidden
I think there may be several factors that make them ban bitcoin, maybe bitcoin can damage the economy in their country, or maybe they apply the principle to keep using their country's native currency whatever happens. I do not know for sure about the cause, they have their respective reasons to ban bitcoin in his country
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
I think because these country that banned bitcoin didn't actually knew that bitcoin could them some good and positive incomes. And also I think they didn't aware of what may this bitcoin effect on the economy of world. And the last reason I see is that because government doesn't have the access to bitcoin because it is decentralized.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Actually they didn't banned bitcoin in any country they limiting the use of bitcoin and making some transactions involve bitcoin because we all know that bitcoin doesn't have any tax and it makes for the people to full get their earnings completely. Eventhough it happened to limit many people continue to use.
Countries ban bitcoin for several reasons and decentralized system functioning seems to be the priority reason for the same. But the users from those countries continue to use bitcoin through some other form. This cannot be completely stopped, because one who has got into it won't leave that easily at any point.
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 have no way of imposing tariffs on bitcoins so They have banned bitcoins. or bitcoins are a threat to banks in their country. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
the country want to banned bitcoin I think the main reason of that issue are to control bitcoin to make regulation laws how to handle bitcoin in own power, or the government officials of some country want to collect taxes for bitcoin as currency but how can regulate this digital currency that's the problem of the country want to banned.
They banned bitcoin because they are afraid of the anonymous transactions of it because it might cause them trouble because the criminals are the one who have the advantage for this feature of bitcoin and it can provoke a terrorism since they can get funds for that activity by bitcoin and because of the anonymity, a lot of illegal activities might be created.
why some country banned bitcoin?
is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Every country has it's own law and reasons of blocking such activities online so I think they have a strict or conservative government for digital assets like cryptocurrency most especially Bitcoin. We all know that Bitcoins has advantages in our lives but it also has flaws. Some reasons may includes, high commited crime involving money like tax evasion, fraud, scam, corruption, drugs, terrorist and any illegal activities. But the strange thing I had observed is that, I am living in a country that has all those active criminalities I've listed above but still managed to allow us to interact with cryptocurrency and they don't even have any regulations on ICO's which are prone to scams. What I mean is that we are free to buy and sell crypto's and join in ICO's without any restrictions. Though local exchanges are regulated by the central banks yet we don't have problems regarding banning of crypto's for now just taxes but is not really a big deal so much better to take an advantage on this before it is too late. is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Bitcoin 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 it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls", "And there may be loss to the central banks because if everyone uses Bitcoin then no one will pay tax to the government".So some countries banned Bitcoin.
"There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls", "And there may be loss to the central banks because if everyone uses Bitcoin then no one will pay tax to the government".So some countries banned Bitcoin.
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