why some country banned bitcoin? - page 8.

Cyril jay

jr. member

Activity: 52

Merit: 10

Quote from: Techno012 on March 25, 2018, 07:50:52 AM

I think Those country are afraid of their economic system and they think Blockchain system is getting a thread for their stock market. Day by day Blockchain system is becoming popular and powerful around the world so that some country's government are getting confused what they will do?
Not only that but also their main concern is to protect their people's money, they usually consider this blockchain system is not a secure system that's why those country are not choosing this platform. Whatever the case is, This blockchain system will sustain for a long time and it will be the most powerful financial chain in the future.

Some country banned bitcoin maybe they are afraid of, because bitcoin is a tax free and has a good impact to the community.They are afraid that thier economy or thier stock market can be affected, they tagged bitcoin as illegal as thier propaganda and spead lies to thier countrymen.

Bacotan Bae

sr. member

Activity: 504

Merit: 252

Many countries are afraid of bitcoin because they can not control, as we know that the main feature of bitcoin is decentralized and anonymous so many countries do not like the 2 features, if it is legalized it will make the corruptors use bitcoin to save money in bitcoin.

ajaymukund

member

Activity: 784

Merit: 10

https://streamies.io/

Quote from: rajuahmed763 on October 19, 2017, 09:26:17 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?

I think they are afraid of persecution from bad people. There is a lot of information that terrorists often trade in bitcoin, so the government can not confirm the identity of such traders. So they fear and forbid bitcoin, which will make their country peaceful.

Techno012

member

Activity: 122

Merit: 12

I think Those country are afraid of their economic system and they think Blockchain system is getting a thread for their stock market. Day by day Blockchain system is becoming popular and powerful around the world so that some country's government are getting confused what they will do?
Not only that but also their main concern is to protect their people's money, they usually consider this blockchain system is not a secure system that's why those country are not choosing this platform. Whatever the case is, This blockchain system will sustain for a long time and it will be the most powerful financial chain in the future.

kalph22

member

Activity: 121

Merit: 11

Quote from: rajuahmed763 on October 19, 2017, 09:26:17 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?

Because a lot of false news are made about Bitcoin that they say Bitcoin was being use on some illegal activities in different part of the whole world. We really don't know if it's the truth, but still Bitcoin really gives a lot of people to learn to invest, trade, how to market and to earn for their future.

Turagsoy02

newbie

Activity: 56

Merit: 0

The legal status of bitcoin varies substantially from country to country and is still
undefined or changing in many of them. Whereas the majority of countries do not
make the usage of bitcoin itself illegal, its status as money (or a commodity) varies,
with differing regulatory implications. While some countries have explicitly.

Raziel444

newbie

Activity: 108

Merit: 0

One of the reasons is that bitcoin is decentralized. of course banks would bar bitcoin because banks want to monopolize anything about monetary transactions. another is for fear that bitcoin e used for laundering and terrorism activities which i thīnk is possible.

lenashine

member

Activity: 111

Merit: 10

Quote from: rajuahmed763 on October 19, 2017, 09:26:17 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?

We must not forget that payment by bitcoin can be anonymous. This allows the mafia to dispose of large sums. In addition, bitcoin is not taxed that the country is not profitable.

spartanrules

sr. member

Activity: 700

Merit: 250

Quote from: geegaw on March 25, 2018, 07:24:54 AM

Quote from: Domenc on March 25, 2018, 06:20:44 AM

Countries which ban Bitcoin have a simple reason to do that they just fear the outgrowing power of this system and think this can disturb financial system of the country. But they should also recognize it as a new opportunity for people to invest and should support rather than imposing a ban.

Of course, Bitcoin has a big impact for the economy of a country when it allows people to make money without paying taxes, and also because of this, many people also use bitcoin to do illegal things, it makes the face of society become worse. Although some governments can deal with this, but some do not have the capacity to do it, they can not solve the problem that bitcoin creates, they can only ban Bitcoin, they accept losing an investment opportunity for everybody, instead of getting more trouble

Absolutely agree with this. Also this is one of ways to manipulate with whole market. I am sure that some workers of governments also trade with bitcoin and altcoins.

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: Domenc on March 25, 2018, 06:20:44 AM

Countries which ban Bitcoin have a simple reason to do that they just fear the outgrowing power of this system and think this can disturb financial system of the country. But they should also recognize it as a new opportunity for people to invest and should support rather than imposing a ban.

Of course, Bitcoin has a big impact for the economy of a country when it allows people to make money without paying taxes, and also because of this, many people also use bitcoin to do illegal things, it makes the face of society become worse. Although some governments can deal with this, but some do not have the capacity to do it, they can not solve the problem that bitcoin creates, they can only ban Bitcoin, they accept losing an investment opportunity for everybody, instead of getting more trouble

toygama

member

Activity: 280

Merit: 10

Quote from: macartem on October 20, 2017, 01:29:18 PM

because they don't know how to demand taxes from this, and still fear for the economy of the country

That's a bad impression of any government to ban bitcoin they don't realize if people in their country earn a living from bitcoin that money they earned is use to buy anything goods which is subject for tax so the government will also earning from bitcoin.

Omparkash72

copper member

Activity: 336

Merit: 0

Some country banned Bitcoin because it is difficult to find the owner of the particular transaction.They even donot have the technology to find that.Other thing is government have no earnings with Bitcoin transcation like tax etc. Mainly decentralised currency that's why there was a always probability of risk for people.

Antivoid

full member

Activity: 280

Merit: 100

the most important reason is that there are many scams among the cryptos, like ico and money laundering, and people cant distinguish cryptos and crptos, so government ban all the cryptos to protect their citizens

rxtwo

full member

Activity: 224

Merit: 105

Some countries ban bitcoin because there is not a way to control bitcoin centrally. The countries have their own banking system and they have full control of there central bank. Bitcoin on the other hand is a peer to peer transaction without the middleman.

addeqt

member

Activity: 196

Merit: 30

There are several reasons why countries ban bitcoin. One of the most common is to protect their citizen. We knew that bitcoin and crypto gives a new level of investment, payment method. These advancement took advantage of people who want to perform scams. A certain company will create their own coin, that promise to be the solution to a certain problem. These company will then crown fund but this time using crypto. After gaining some crypto and failing to attain their target the company will then tell its investor that the project wont go thru and the funds can't be return. These scenario put people at rage and complaining to the government. The government on the other hand which lacks rules and laws about it can't do something. So to prevent this sams, government ban crypto before any bad things happened.

miang

member

Activity: 196

Merit: 16

I also still do not understand why bitcoin is still prohibited in my country, but the demand is quite a lot in my country but the government has not allowed bitcoin in here still amaze me, but here we business no one harmed, even I think the bitcoin adds insight into the development of technology in the era the more modern.

Dimonhamon

full member

Activity: 630

Merit: 102

There are many reasons why some countries hide bitcoin.
1.Bitcoin is decentralization.(Countries can not fully control it).
2. Money flows out of the country.
3. It is difficult to tax.
4. Bitcoin is not grounded.(An example of a country's economy is based on gold or oil...).Bitcoin can destroy the economy of the whole country in one second.this is too much of a risk for concurrent Europe and Asia.

But I'm sure bitcoin can take some special place in our life and the lives of our countries!

jiop111

newbie

Activity: 116

Merit: 0

Bitcoin prices fluctuate greatly. The country is not worried about technical issues. The concern is that people will lose money because bitcoin will trigger a series of social problems. This is unpredictable. I also support the regulatory measures introduced by certain countries. They may also be studying Bitcoin. They are only temporary policies and may move in the better direction in the future.

MartynasB

newbie

Activity: 84

Merit: 0

A lot of people looks at Bitcoin as an investment tool not as currency, so there is a lot of speculation and some countries dont know how to define it is it asset is it currency.. So to protect their investors some counties had to ban it

wasaisi

member

Activity: 210

Merit: 10

Because as we know that bitcoin prices are up and down. And the government thinks it will lead to economic crisis in the country. Many governments are banning bitcoin like in my country. The government is also afraid the banks in the country will be rivaled by bitcoin.

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