Topic: why some country banned bitcoin? - page 59. (Read 10262 times)

In many countries the presence of digital currencies such as Bitcoin still invites pro or contra debate.
Part of the cons, consider bitcoin is a threat to conventional money and closely related to monetary. In addition, they also consider that bitcoin is prone to crime, such as money laundering and drug trafficking.
For some who pro think Bitcoin is the same as the common currency because it has value and the same function, can even be used as an extraordinary investment.

I agree with you, This is the main reason for some countries to ban bitcoin. They didn't like people to control their money and stop using banking. Nowdays, bitcoin community start to be more larger and larger, and members here increase every single day, so bitcoin price increase automatically, so i think this is another reason for the goverement to ban bitcoin.

I think that countries that do not want to look to the future are banned from bitcoins. The government whose conservative views on the economic system will never take bitcoin

when the state finds that their financial system is threatened by bitcoin,, it is certain that the country starts thinking about banning bitcoin.,, because when bitcoin becomes one of the mass payment systems in the country the state bank will be marginalized and lose competitiveness by bitcoin,., jam it some ico who do fraud so investors in the country suffered losses,.. both points that make bitcoin banned..

The only thing that the government can do is to banned the bitcoin because bitcoin cannot control by the goverment.

I think the main reason why some country in this would banned the use of bitcoin is because they don't know how impose tax from bitcoin to have income in the part of goverment.

Some countries are banning (or at least heavily regulating) it because they have a need to control their currency as a means of controlling their people, others might not be able to deal with an influx of currency and need to keep their currency at an exporter or importer level of exchange. Other countries want to go after it to get tax money from it and properly make whatever they believe they're owed.

There's a variety of reasons that people would want to ban Bitcoin, there is no one blanket answer and most are situational.

Each country has a different economic policy. I want Bitcoin to be adopted by a payment method, but nothing happens with enforcement.

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.

It is not difficult to answer, but if i remember it good, there has not been any country who banned bitcoin "directly" i mean, most of the countries who had some problems about bitcoin have just banned and made some regulations about the ico's, but that does not applies to all the cryptocurrencies.
Probably they wanted to make this in order to stop people using them so it can not create a disaster into their local economy, it really makes sense.

People ban bitcoin and other currencies that are compeititon to the currency of the country becuase they want to retain their power, I can't stress this enough on this forum. And they're doing this because the ones with the influence and the money are the banks, who practically bribe (or the legal term of lobby) government officials to retain their power as well.

In short, people don't give up their power willingly.




It'll be forbidden of it's too much of a compeititon to the Russian currency.



Plus Banks can control everything about the currency (inflation and so on)

In previous years, bitcoin's market was somewhat centralized and relied heavily upon china. This gave china a great deal of control--one might say china had something like full regulatory power over crypto as it was the main country in which crypto was based. If china cracked down on exchanges bitcoin's price might tumble as much as 80% as it did in 2014.

Today bitcoin is more decentralized. This is mirrored by china banning exchanges has far less of an effect on bitcoin's price.

The banning of bitcoin might be motivated by the end goal of making crypto's market more centralized once again. Bitcoin being centralized makes it easier to control. Its much easier for market manipulation to occcur with centralized assets than it is decentralized or distributed ones.

It might be fair to say centralized one world governments and centralized economies are motivated by the same principle: control. Centralization makes it easier for elites to control things and for them to restrict progress and innovation. And that is why they favor it.

Countries banning bitcoin has a net effect of centralization.

Countries adopting bitcoin has a net effect of decentralization.

That may illustrate some of the basic & fundamental ways in which the self interests of elites and of average ordinary people can be opposed.

Old but golden article in the Guardian what answers your question.
https://www.theguardian.com/technology/2013/apr/07/bitcoin-scares-banks-governments

One central bank operate the country economy and value the currency. Bitcoin is decentralized, Even no government can have it's control. It's volatility nature is also a point not to adopt it. Government cannot track the transaction since one can create many wallets. Even there are lot of reasons including "dark web"

because cryptocurrencies cant be regulated,by then government wont get tax from it so they think it will bring troubles to the economy and more on banking matters.thats what i think the main reqson whybother countrys dont want bitcoin in theyre community

They might have seen the threat that bitcoin could bring in there economy but I don't see a lot of country banning bitcoin. ICO will more likely be banned than bitcoin. Bitcoin is unregulated and maybe the governmnet cant find a way on how to regulate  this crypto.

Russia has not yet passed a law that regulates the crypto currency. Therefore, it is not yet known what will be the final decision of the government in relation to the crypto currency. I think that some countries prohibit bitcoin because of that, they are afraid to get damage in the economy

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?


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?

I think Bitcoin Transaction does not make any profit to the government.Without it, Bitcoin Transaction can not control any country's government.Maybe for some reason bitcoin banned in some countries.Here is some counrty who banned bitcoin
 https://99bitcoins.com/list-countries-banned-bitcoin/?gclid=Cj0KCQjwvabPBRD5ARIsAIwFXBkwgDXcis56DounuMmkN73W2beiJnE8a7ON3KL1LLKxQF46NMtDh90aAieSEALw_wcB

In Russia it is not forbidden: no law describes coproevaluations as such, in particular, does not equate to surrogates or anything else

they think that if the use of our banks is tax-rich, and if there is such a use, our state will go bankrupt, all the banks and we would have forbidden it immediately.