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    Author Topic: Why do some government ban bitcoin?  (Read 1525 times)

    • Laabada
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    February 08, 2018, 02:28:29 PM
     #61
    they ban it because they wanted to issue a regulation to a certain bitcoin user

  • sneeze11
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    February 08, 2018, 02:56:11 PM
     #62
    Quote from: abd000 on November 27, 2017, 10:22:44 PM
    China-based cryptocurrency exchange BTCC suspended all domestic trading in yuan last weekend. The decision came on the heels of a September 5 statement from regulatory authorities in China, which required all domestic cryptocurrency exchanges publish closing announcements, stop registering new users, and establish a schedule to cease yuan-denominated trading by September 15. Huobi and OKCoin — two other exchanges based in China — have announced similar plans to stop trading. To be clear: China has not banned the use of cryptocurrencies. It has banned cryptocurrency exchanges and initial coin offerings (ICOs). Even still, it has prompted some to consider whether a government might ban cryptocurrencies like bitcoin — and, perhaps more importantly, whether such a ban would be effective Smiley Smiley Smiley





    I think some government ban it because bitcoin don't have tax. They are also afraid that someday bitcoin will change our money and there's a possibility that bitcoin can make our bank disappear. Others say that our government can't control bitcoin so that they banned it in our country.

  • zhelis74
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    February 08, 2018, 02:57:19 PM
     #63
    Quote from: budz0425 on February 08, 2018, 02:25:51 PM
    Quote from: Bitcoinjheta on February 08, 2018, 02:22:10 PM
    Quote from: kadutz25 on February 08, 2018, 02:13:53 PM
    I think why some governments forbid? Perhaps because krypto money goes up and down with prices so some governments are afraid that if the government uses krypto money they worry if the state money can run out because they can not print paper money again after using krypto money.


    This is because they are forming a new coin like cryptocurrency in which they are the main host in that project they are totally cut all kinds of cryptocurrency exchange and social media were most of the coin are being promoted. In that strategy we can say that it is exclusively for there country  as well.

    You are right they  have found out new idea and that is producing their own coin just like China does, but since bitcoin has proven its stability I don't think that bitcoin will lose its power of being the number one cyrptocurency around the world. Just continue patronizing bitcoin and eventually bitcoin will grow more and those countries that banned bitcoin will eventually making it legal.
    As far as we all know our government controls every establishments, companys and all about business matter involving in labor system. They earn income from it in their tax contribution. Not like bitcoin a so called crypto currency, even single piece they can't gain any form of taxation. That is why they are calling it scam and pursue to ban for they were not able to control upon this matter.

  • dificanovi
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    February 08, 2018, 02:59:44 PM
     #64
    Quote from: Visbay on December 27, 2017, 07:38:34 PM
    Quote from: Aryanto28 on November 28, 2017, 02:56:27 AM
    the government does not want to increase the level of crime because often bitcoin is associated with negative things such as illegal transactions and money laundering. Therefore why the government forbids the use of bitcoin. But actually bitcoin is not monitored directly by the government because bitcoin is not owned by any country so the government does not control bitcoin. It's just a bank that may issue rules about bitcoin in a country.
    Actually some people want to use their people for his own work in order to collect tax from them because tax is playing a very good role in revenue of any country but I don’t agree when some countries will be ban bitcoin I believe if they accept bitcoin in their countries so it can also play a very big role in their economy which can improve their economy and also it can reduced unemployment in these countries so they must accept bitcoin.
    I think the government forbids bitcoin because they do not get income tax from bitcoin, while bitcoin users get very much money from bitcoin. even though the government forbids bitcoin but nobody minds and they continue their work.

  • Mocoinaire
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    February 08, 2018, 03:12:37 PM
     #65
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  • Garret44eza
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    February 10, 2018, 03:28:30 PM
     #66
    Governments probably cannot shut it down through "technical" means, i.e. hacking the system, thus crashing the value or preventing it from working.

  • Amilhussin24
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    February 10, 2018, 11:45:58 PM
     #67
    Being decentralized digital currency is the main reason of why Government ban bitcoin. Government is The body with the power to make and/or enforce laws to control a country, land area, people or organization. However the Government wanted to regulate bitcoin, is impossible, they can't controll it, but the only thing they can do is banning the organization, group of people in a certain country. And issuing a regulation in using Bitcoin.

  • CryptoJoshua
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    February 11, 2018, 12:09:53 AM
     #68
    Here is an article about why banks specifically hate Bitcoin: https://www.mirror.co.uk/tech/why-banks-hate-bitcoin-cryptocurrency-11433562

    Using that information, I think you can figure out why the governments hate it      Cheesy
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  • joan26
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    February 11, 2018, 12:57:07 AM
     #69

    Bitcoin - and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.

    And unsurprisingly, banks aren't happy about being made obsolete and - with help from governments - are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.

  • supelle.born
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    February 11, 2018, 01:02:58 AM
     #70
    Governments hate everything they can not control, can not tax and can not get rich. Governments are greedy and centralizing

  • ungongbuotan
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    February 11, 2018, 01:29:54 AM
     #71
    Government can't control bitcoin and other cryptos. Bitcoin and cryptos can directly trade without the government in between. Imagine buying something without the government knowing it, so it means no tax and government hates it when they have no tax money. That is one of the reason why the government are against bitcoin and crypto cause they can't control it.

  • legok
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    February 11, 2018, 01:43:45 AM
     #72
    it is the policy of each country, maybe because the system and the law in that country can not yet be relevant to receive and run digital money like bitcoin .. we hope hopefully more and more countries can accept bitcoin, so bitcoin will be more developed

  • Spanopohlo
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    February 11, 2018, 02:13:21 AM
     #73
    Id Say they didn't ban it out of their own selfish reasons but they only want to regulate it so that it will not cause such harm to the markets and banks. They wish to get some tax from it, some extra cash and additional income for them to attain some money on their pockets. They will not shut down Cryptocurrency in their country because of the internet they need, So they just Ban some of its features but not all of them.

  • RicardoRicky
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    February 11, 2018, 02:28:09 AM
     #74
    I think it's a fear of the government that forbids bitcoin because it does not want to lose central banks and its effect in the economic turnaround inside the country. fear of losing state assets, but it could also be because not ready all the insrument to welcome and use it legally. or government will lose control if bitcoin is received in the country.

  • BennyOnions
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    February 11, 2018, 02:29:15 AM
     #75
    Governments want to ban crypto because they can’t control it.  The whole idea of being decentralized goes against governments.  Also, governments want to make sure they can tax cryptos to make their cut.  
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  • jinxing
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    February 11, 2018, 04:05:10 AM
     #76
    In my country the government forbids because there was ever money laundering. And the existence of illegal goods transactions. Probably because the government forbids bitcoin. But now the government in my country does not prohibit or support. And the risk carried itself. The government can not help.

  • astridplomp
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    February 11, 2018, 04:23:12 AM
     #77
    the most common reason why the government ban bitcoin because bitcoin is decentralized, so it can not be controlled or charged taxed from government. That is the reason why criminals can use bitcoin for illegal activities, and governments ban  bitcoin as the the reason to protect people from bad effects from bitcoin.
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  • Alamin2
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    February 14, 2018, 12:54:22 PM
     #78
    Some of country brand bitcoin because government don't know about bitcoin very well nowadays. Bangladesh government has stopped without knowledge about bitcoin value.Because they can’t control it. 

  • svetochka.yakovleva.93
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    February 14, 2018, 01:42:38 PM
     #79
    Forbid, I think because the capitals of their sponsors, and even the officials themselves, and a couple of these business owners themselves are now experiencing an outflow of capital, which affects the fall and lack of money in their businesses, if we want to develop, we must let go of the old and move in step with time! I think so))

  • natalagerman95
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    February 14, 2018, 02:22:47 PM
     #80
    The ban appeared due to the fact that the crypto currency may be more stable than the national money. In Ecuador, the situation looks like this - there the crypto currency was banned because of the creation of its own network, which does not need competition.
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