Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: msz900 on January 18, 2021, 02:18:32 PM
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Hi friend, kindly modify the title of your post, because it gives the community a better mode to discusse on the topic. However, I have not seen a serious reason(s) why certain countries has to ban btc, other than, some of these countries fear btc may take over their fiat currencies and obviously, BTC is completely decentralized, no one controls it.
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The ban has nothing to do with just the government hate, bitcoin is having this pseudonyms feature that enables users to have a hidden identity. Now, most of the user in the dark world exploit this feature for negative bad things on innocent people like kidnapping, theft and scams.
2018 bull run open wave for scammers in crypto communities, hence government has to take control of things in order to safeguard their people interest that's why some countries has to ban bitcoin assets.
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Bitcoin is banned in some countries for the simple reason that their governments view Bitcoin as a threat to their power. If a government controls the banks, the banks control the cash, the ATMs, they know where each bank transfer goes, it is a way of controlling the population, money, it is also the oldest form of control, along with fear. Bitcoin would take away all that power quickly. Bitcoin and crypto remove those forms of control, which is why some governments are against Bitcoin and ban it.
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I believe it is not just about being anonymous because if that what we are trying to point out here there is more better than bitcoin and that is monero as far as anonymous is concerned. I think government don't like the fact that bitcoin will overruled them in the near future.
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The ban has nothing to do with just the government hate, bitcoin is having this pseudonyms feature that enables users to have a hidden identity. Now, most of the user in the dark world exploit this feature for negative bad things on innocent people like kidnapping, theft and scams.
2018 bull run open wave for scammers in crypto communities, hence government has to take control of things in order to safeguard their people interest that's why some countries has to ban bitcoin assets.
Bitcoin is indeed made in such a way as to protect its performance and those who have, on the one hand, benefit and on the other hand, it is difficult to control. but all will be able to find solutions and rules if the government is willing to adopt bitcoin.
the problem is that many do not accept bitcoin as a legitimate medium of exchange but do not prohibit it as a trade.
it is alleged that bitcoin will be used as money laundering from drugs and corruption is known by many countries and they have anticipated that they can control it with rules and regulations that are made in such a way and there will be no problems in the future.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Bitcoin cannot be controlled because Bitcoin is decentralized, Bitcoin is very vulnerable to being used for money laundering. This is the main reason why Bitcoin is banned, because all activities in Bitcoin cannot be controlled.
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It is well known that bitcoin belongs to a totally different economy from the traditional one, this through the facilities goes against everything that governments and banks want, particularly this for me is the main reason.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Some counties governments don't control bitcoin at all. About 69 countries permitted bitcoin as legal but some developing and poor countries are opposed opposition against bitcoin.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Your topic already opposed the bitcoin development ,term and conditions. You can change your topic headline. Neither we will 🔐 lock your topic.
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Bitcoin is not been banned actually. Bitcoin only banned in specific countries for some reasons of course, but this is not the problem because still, so many counties accept it. Every county has its constitutional regulations, so always follow it and don't break it
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
What is clear is that BTC transactions cannot be controlled by anyone, except by Buyers & Sellers, which is clear if applied in a country automatically allows the currency itself to be shifted, because as we know BTC transactions are faster and easier and have a wider range.
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Many governments still don't want to compete with Bitcoin for digital assets. Also, I suspect the governments doubt if Bitcoin can be a real digital currency globally. That's why many governments didn't want to allow Bitcoin and hate Bitcoin because it can have many supporters rightnow.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
You come up with a terrifying headline that makes people startled and then curious ...
The question of not receiving bitcoin in several countries, of course, has a background and a reason for each. Including concerns about the potential that could disrupt conventional finance and so on ...
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Bitcoin is not banned in many places, actually, it's only banned in a handful of countries. Many goverments don't like the idea of Bitcoin, that's true. But in many places it is not really banned, just not outright embraced.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme
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The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme
Yes, I agree, and that the main reason I think that they are not allowing BTC to be legal. If the government did not make it leagl then users will use it illegally(in terms of permission).
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I think BTC is still free and not prohibited in many countries, because the government can still see every bitcoin transaction but you can't really know who owns it,
the problem is the privacy coin, you can only see the transactions made, but you can not see the amount or even the wallet address, this is the reason privacy coins are rejected in many countries even in some large exchanges like Bittrex.
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Government think Bitcoin illegal for various reasons-
Government can't control over Bitcoin transactions or they can't track the users.
It increase money laundering.
It is used in illegal purposes. (Some incident already happens).
Government deprives of taxes form here.
Bitcoin and cryptocurrency isn't beneficial to the national economy. etc
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The culture of Bitcoin investment is far different from centralized investment such as banks, real state, life insurance. They pay tax actually.
Bitcoin should pay huge tax once it is govern by the authorities which I think the government is after. Volatility and anonymous system is not I guess the very issue but the tax.
One thing is also possible is the government wants to track criminals through Bitcoin. So they are working hard to control Bitcoin.
Why banned? Because of hidden agendas from administrations (imo). Maybe they want to protect the community or they don't want Bitcoin because they are not in control to the system.
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The average government in the world wants to control the financial system in their country. As for bitcoin, the system is integrated so that it cannot be controlled or intervened by any government. This may be the reason some countries have not given the green light. But I think your topic title is too extreme
Yes, I agree, and that the main reason I think that they are not allowing BTC to be legal. If the government did not make it leagl then users will use it illegally(in terms of permission).
For users, it doesn't matter whether bitcoin is considered official or not. The important thing is that he can use it for profitable transactions. Moreover, legally it does not harm the local government
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Well spoken mate, anonmity and decentralization is the main reason why the government is against any thing cryptocurrency, since they won't be able to keep track of the transactions made by their citizens, not just that bitcoin can get into the hands of fraudsters who would still money and hide it in bitcoin since the government will not be able to find or be able to trace it back to them,so to avoid such from happening the government decided to prohibit bitcoin within the country.
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We all know that there is no need for a third party in Bitcoin transactions. That is why the government does not have to pay any tax, which is the main reason for not legalizing bitcoin. Many times we have seen that many kidnappers kidnap someone and demand bitcoin. There is no need for third parties to transact through Bitcoin so they could not commit criminal acts independently. This may be the main reason for not giving bitcoin legitimacy
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Yes, And think the reason why bitcoin banned at several countries because anonymity. Bitcoin is untraceable and cannot be tracking. But I think the government should be accepted bitcoin technology for their future.
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Many countries have not been able to fully accept Bitcoin. However, I think more and more countries are finally accepting Bitcoin. They are banned only temporarily, if you see other countries succeed with Bitcoin, of course, you will change your mind.
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I think that topic starter is a bit wrong with "Government can't be able to track/trace the crypto users and their transactions" being the reason of Bitcoin being banned. Government ban Bitcoin because they can not track and trace your income from Bitcoin trades. They can not trace the amount of income tax Bitcoin trader should pay. But, they dont really care if you make 1 or million transactions. You can trade, send, receive, play, do what ever you want. But when you convert crypto to fiat and get income from your trades - pay the tax please. That is what they can not control (and plan future budget).
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Bitcoin allows people to keep their capital and savings out of the dirty hands of the government, which can rob its people by any means. In addition, national currencies are prone to inflation and the government, issuing large amounts of paper money, devalues the savings of citizens, and Bitcoin is safer in this regard.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Your title is misleading mate kindly rephrase it.
About the topic, some other privacy coins has already been delisted by some exchanges and not Bitcoin. Bitcoin is government friendly I think because some countries even embrace it and adopted it as a new form of payment method or even accept it as an investment asset. There is nothing to worry about banning of Bitcoin because if ever it happens we can still use it in secrecy.
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I don't know if there will be any more updated list that talks about this topic (I haven't found it yet), if there is anyone, please leave a link here. The last one I found is this one, and it's pretty clear which countries "accept" it and which countries don't.
https://www.investopedia.com/articles/forex/041515/countries-where-bitcoin-legal-illegal.asp
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Yes brother I agree with you. Yes Bitcoin is not recognized in many countries. One of the reasons is that this bitcoin user can be identified. Even Bitcoin cannot be controlled by a third party. Since Bitcoin transactions cannot be identified or traced. In that case the government can collect any kind of tax or revenue from them. Again, for these reasons, the crime rate of corruption may increase. That is why Bitcoin has not yet been recognized in many countries
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Bitcoin is decentralized block chain and all transaction has been dine by smart blockchain Government cannot control trader trading on such platform. Government has also a tax system for rich people which cannot be got if people use bitcoin as a trading
This why bitcoin banned in almost all countries.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Bitcoin does not hold a total anonymous service for the users but monero does therefore I don't believe such reason. I'm suspecting that this is happening because government of a country might be longing to get some bitcoin in a low price just for their own sake.
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Bitcoin transactions can still be tracked, unless the user wants to do it by hiring a privacy service platform so that sending transactions are not tracked.
Bitcoin is not a privacy coin, so there is no reason to prohibit the circulation of Bitcoin as a transaction, because everything is transparent and exists on the blockchain.
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That is an old song by the people to make fear of crypto or specifically Bitcoin. ANd this is now not working at all. any people around the world have involved in Bitcoin and many more governments and industries also believe and buy Bitcoin. So, don't fomo or fud
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well, actually some reasons may also influence the legality of Bitcoin in certain countries. They may also have diffilcut or complicated rules about currency and Bitcoin cannot be ruled. So, they ban Bitcoin.
However, in some countries, Bitcoin is not banned at all.
For example in my country Indonesia. Bitcoin and crypto are legal, but they are only as digital assets or commodities. For currency or payment? No, it is still illegal.
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in countries that prohibit bitcoin, it has usually been invented if bitcoin is misused so that it has a negative impact in that country, usually bitcoin is used by state officials for money laundering because bitcoin cannot be detected, but if bitcoin is used for something positive for sure that country is willing to accept bitcoin.
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Most of the countries that are not using Bitcoin now are very poor. That is why the government will never be able to control Bitcoin. Suddenly, financial catastrophes can strike at any time. That's why poor countries are not instructed to use bitcoin.
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I also don't know why this BTC is banned but I have benefited a lot from reading this valuable post of yours and got a lot of ideas. I hope those who have members like me will get a lot of ideas. And if you read the posts of the senior brothers well, you can expect to get a lot of ideas.
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It would be helpful for us to understand what you mean by BTC ban if you could say it a little bit clearer.Then it would be helpful for us to understand that as much as I have an idea about Bitcoin, I can say that Bitcoin will never be a ban.You may want to discuss something else.But I hope you will modify your title.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Yes, you are right. At several countries has blocked bitcoin with the reason, bitcoin is anonimity, cannot be tracked user and transaction. But They don't think this technology will be the future technology.
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Correct, Bitcoin still banned in some countries. And some country welcome it for reducing the unemployment rate. Bitcoin is fully decentralized and noone know who create it, That's why some country still banned it.
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You're right Bitcoin is still illegal in many countries. And in my country this bitcoin is still illegal. I think Bitcoin is illegal in most countries because no one has any control over it. In particular, the government has no control over Bitcoin, so I don't think the government wants to legalize it.
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Of course the main reason is because the country is afraid that Bitcoin is being misused for bad transactions. And indeed the value of this Bicoin is very volatile, so it is assessed as something that has such a big risk.
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As there are a lot of reasons for the BTC banned in most of the world countries but the main reason is Anonymity which for crypto users is considered an advantage and that's why they use it. Government can't be able to track/trace the crypto users and their transactions and that's why they are not allowing it to be used as legal.
Anonymity is one of the major reason follow by decentralisation, the crypto space is decentralise and can't be control by an individual or group, it is open source which means anyone is free to take a peak, government like to be in control and crypto negate everything the government stand for, that's why it is very hard for them to accept crypto.