Topic: why some country banned bitcoin? - page 56. (Read 10264 times)
cos it's harder to control than the "classic" money they did. this is the new system which wasn't made by them and they study the technology of crypto like "average" man. they think they would better ban it than get risky to allow people make money as them. even more than them. lol
Some countries banned bitcoins because I think that bitcoins being decentralised governments can't control bitcoins or have any power over bitcoins.Also that bitcoins can be used for illegal activities and tracing back the user's identity is also hard as bitcoins are anonymous that means during transactions user's identity is hidden.These are some reasons why I think some countries has banned bitcoins.
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 they can not control Bitcoin, they fear for the economy and power of the state.is there any problem? i know that bitcoin is international crypto currency. but why some country banned this cryto?
Although Bitcoin is becoming more known, fewer people know BTC than people who do not know it.
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 these countries are banning bitcoin because they can't control it.
Bitcoin is a new way to make money for their citizen and only thinking that bitcoin will be like a threat for their economy. because their citizen which is using bitcoin is not paying the tax at all when they use bitcoin except when they sell their bitcoin and send the money to their bank account. maybe they are afraid that if many more people trying to use bitcoin, their fiat can be affect with the bitcoin price and will Reduce the economy of the 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 these countries are banning bitcoin because they can't control it.
The payment system of bitcoin if totally free and anyone can invest or exchange bitcoin without using his/her real identity. That's the main problem why many countries banned bitcoin. Every country gets a big amount of money as vat fir each transaction of money. People have to give this money. As bitcoin is free transaction system, people are using this coin vastly. And for this the banks and the countries are at loss. As bitcoin system doesn't need any real identity of the user, the security issue for the country harms.
I agree with you. And I want to share more information. Actually, I think that Governments just ban ICOs in short-term. They just need more time to regulate Cryptocurrency and tax from it.
The payment system of bitcoin if totally free and anyone can invest or exchange bitcoin without using his/her real identity. That's the main problem why many countries banned bitcoin. Every country gets a big amount of money as vat fir each transaction of money. People have to give this money. As bitcoin is free transaction system, people are using this coin vastly. And for this the banks and the countries are at loss. As bitcoin system doesn't need any real identity of the user, the security issue for the country harms.
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?
Was talking to a friend of mine a couple weeks ago and he's a bank guy for a top 5 firm and he told me that the higher ups are very nervous and some are even scared. He even heard that they are pushing their lobbyist to get the US gov to outright ban crypto. I assume this is why other countries are banning it. They can't control it so they won't be able to manipulate it or profit heavily from it. But the good news is that in the US, the government was created for the people and by the people.
in my opinion maybe some countries that do not know with bitcoin, so they strictly prohibit bitcoin in making a transaction in a country.
I would agree with this. They lack the knowledge and only know of it from the news which has paired it with drug use and the dark web.
Perhaps because the country does not want bitcoin to dominate their other virtual currency.
There is just a "simple" reason behind it. They can't/don't control bitcoin. The government want to take hold of everything. Giving you freedom means making the power of government over you weak. Since they cannot control and regulate bitcoin, it becomes hard for them to keep track of your transactions. They cannot impose tax over you. They feel that this coins will be used only for committing crimes, despite the fact that people also uses fiat to cause trouble.
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 they are afraid that bitcoin will make their local currency weak and it's hard to tax bitcoin, so if a lot of people use it for selling and buying items it's hard to tax and their income will decrease a lot. It's also a lot of harder to trace bitcoin transaction, there's too many cons from bitcoin so they just decided to ban it. 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?
Because they are thinking that bitcoin will affect their economy in negative way most of the country that banned bitcoin has a good economy and they fear that maybe bitcoin will become one of a reason to ruined their excellent economy they do not want to do any changes..
Main thing that some countries banned bitcoin because of its system is decentralize and anonymous so there is no one can control it. I also have heard that the Russian central bank warned that the use of bitcoin is a potential source of money laundering and a funding route for terrorist activities (maybe you can read more opinion about bitcoin and terrorism in thread https://bitcointalksearch.org/topic/will-bitcoin-be-used-to-support-terrorists-1857386) because the transaction system used by bitcoin is anonymous. There are some consideration of the government to legalize bitcoin. Some of these things can harm the country, even though bitcoin also offers some advantages on the other side. Each system has its own disadvantages and advantages.
I think they are afraid because bitcoin is taking over the fiat system and the central banks. Or maybe they just dont have a law that will govern how to use bitcoin on their country.
Maybe they feel the same way what others think like Bitcoin is an digital currency which follow unauthorised way for payments
As we see each country follows their own created policy in which Bitcoin is not prohibited as they feel of loosing of their financial currency
As we see each country follows their own created policy in which Bitcoin is not prohibited as they feel of loosing of their financial currency
I think it is the policy of each country...most countries prohibit the use of bitcoin with the intent of payment like local currency...Because bitcoin is a digital currency, for some countries it considers unauthorized means of payment.but if only to invest i think it's allowed, as it does in my own country...
Each country has different reasons, but the exact reason why they are banning bitcoins is economic, social, and political
I think the biggest reason of the fear of market,most country's central bank have the 80% money saved from people in banks this is the liquidity.This money used by trained government professionals to trade and make more money.Now if general people start trading with currency that is different from its own they loose liquidity.If 80% people doing this wins the trade that a win for the government also but the hard truth of trading is 90% looses money and in bitcoin its even worse .So basically country economy suffers sad but truth.. 
They are simply afraid of losing control of financial system. They wouldn't be able to print more of money. I would like to see a country with cryptocurrency as their main currency. A lot of countries right now have a huge percentage of cashless transactions. Paying with a credit card is something really convenient. Wechat already allows you to pay by scanning merchants' QR code.
in my opinion maybe some countries that do not know with bitcoin, so they strictly prohibit bitcoin in making a transaction in a country.
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