Why do some government bans bitcoins...??
This are my thoughts, if ever there are countries who wanted to create a law in order to ban the use of bitcoin and other cryptocurrencies then this could be their reasons:
1.Trading with the use of bitcoin or other cryptocurrencies cannot be traced by the government, therefore this transactions cannot be taxed then denying the government of income.
- Bitcoin can be used in money laundering.
- Even though bitcoin was not initially created for illegal activities, but nowadays we cannot deny the fact that it is indeed used in such activity. Giving the wrongdoers a better way of concealing such transactions.
- They may consider bitcoin as a threat to their own currency, if there are less number of people using fiat then its purpose wasn't being used to the fullest.
.
These are my thoughts...