Topic: why some country banned bitcoin? - page 7. (Read 10262 times)

So you're from South Korea right? Because i know a big money laundrying which was coming from South Korea, it's about 600 millions dollars.

I think it maybe because all the countries can’t control it, that’s the main reason. Even nowadays many people is going to keep an eye on it widely ,the banks also lose the control of it and fiat. We all know that bitcoin is created by computer technology and this  technology always keep developing, even it’s too fast, but there are some countries which can’t keep up with its development  and they can’t  control it. However, as far as we know that bitcoin is anonymous and almost people both have the same chance for using bitcoin, therefore bitcoin is always accepted. I think bitcoin will have a potential future and  even it’s legal worldwide.

From some sources in the media it appears that this ban is due to government concerns in some countries will tax fraud, worry about Cryptocurrency fraud, bitcoin hacking and avoid money laundering.
digital currency tension becomes a crucial point of global demand for digital currency transparency .

Exactly, they banned it because they doesnt have access on it. They think that it was a threat for their economy which is true because of there is no tax the economy will be affected. They are just protecting of what they have and aside from that not everybody knows bitcoin and can access it maybe they also think for those people who cant used it as they didnt know how.

Most likely, this is due to tax issues, as each receiving party seeks to do this, but bitcoin does not work at all. And maybe someone from the government just does not like this technology.

Most likely, the state simply did not decide how profitable it is for itself to control bitcoin on the territory of its country.

The countries that want total regulation and control over its citizens have banned it Like China did.
However, People in that country can still use bitcoin. Which means the use of bitcoins is prohibited not banned.

I think the countries in which bitcoin is banned are just afraid of it. They are afraid that bitcoin can destabilize their economy. Imho

I think why there are some country who banned bitcoin because they cannot impose tax to those people who use bitcoin as money, that why they want to limit the use of bitcoin.

There are many circumstances that bitcoin should be ban in one country, like if there are many people use bitcoin in illegal activities so, the government limit the use of bitcoin to stop the criminality in their country.

 Bitcoin is cryptocurrency based on the blockchain technology and it's also a global currency. It means any people can buy it from any place therfore many illigeal transaction done through the btc and many people hide their black money into bitcoin. Btc caused bad effect on the economy of country and it's also caused difficulties for banks.so some of Country banned bitcoin.

In my opinion the reason why some countries banned the bitcoin is because this is used in illegal transaction that we can not deny. If they think that cryptocurrency is not helpful to their country instead a problem, why not to ban. Additionally, it affects the economy of other country that produce bunch of dollar or other currency, instead of their legalize money they prepare to use the bitcoin because of profit they get. And it you observed bitcoin can be primary source of income, it all people grab the bitcoin the employee will not work and the result is no production.

Probably because officials do not know and do not understand what Bitcoin is and how to apply it, so it is easier to forbid, and then to understand what it is, but it is a way of lagging.

Crypto currency becomes dangerous for many components of life. It is free, independent, does not allow the country to earn money on its citizens. But it's on the surface. What are the deep reasons why Bitcoin is so stubborn to prohibit, and many countries have already been banned. The reasons are as follows:

- Bitcoin, like other electronic currencies, can be used to launder money or to evade taxation.

- The system does not have a controlling center, so it will not work out in order to appeal or reverse the transaction in the reverse order. That's why Bitcoin was banned in many countries - under the pretext of protecting its citizens from financial fraud, which are irreversible.

- Virtual money does not have security. Also, there are no organizations that would be responsible to the holders of the crypto currency. Transactions are more speculative, and there is a risk of losing the price of Bitcoin in the future.

- Propaganda of Bitcoin is a threat to the financial system. This is one of the answers why Bitcoin was banned in Russia. Confirmative step was the entry of seven sites on the crypto currency under the ban from Roskomnadzor.

- Legally, crypto currency is not regulated and is not limited. At the same time, the process of awareness of the danger that comes from electronic coins has only just begun in many countries. At the same time, governments do not always make informed decisions.

Bitcoins is affecting their country on a negative way that's why they are banning bitcoins. China is the best place to live because electricity consumption in their area is very low and it was a good place to start a mining hardware business and earn more money more than the salary you are earning.

Some bitcoin states are banned because they fear other banks will be closed due to bitcoin. They do not know what the benefits of using bitcoin and how they can help bitcoin in their country for the future.

Many countries banned bitcoin and other cryptocurrencies because first of all bitcoin and other cryptocurrencies does not give them any taxes.

Why USA had banned alcoholics ?
Because Gov did not want to depend on other countries smugglers like Cuba or Mexico - but somehow they gonna find a way to make peolple buy wnat they want.

the same goes now for drugs.
It is shame?
Maybe but the market as always decide for you. It someone really is willing to have something he gonna find a way to have it - and if there is no Legal one, he goes in black market to find it.

So banning something you cannot control, like bitcoin or other cryptos does not mean a shit, because people are free to do whatever they want with their own money and that ban just get them even angrier to the govs that does not let them buy want they want.

ban the bitcoin in foreign countries, because the goverment of other countries is supposed to be the price of a bitcoin company.

They ban bitcoin because they are afraid of it. Afraid in a way that they cannot control it and afraid because they cannot gain from it. That is just my opinion.

The main reason behind all this ban thing is, government are not able to regulate these currencies, also no one can track bitcoin transactions and know the source so they think bitcoin is used in money laundering.