In the rapid development progress of bitcoins, there has been countries where bitcoins are banned like China ,Bolivia ,Bangladesh and others.......... Since bitcoins are not in the hands of government , many countries have banned it and are in the phase on banning bitcoins............ So what should be done? What should be said to the governements?
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I would like to set somet facts straight here. Because you don't really know what you are talking about:?1. In Bangladesh, Bolivia and Thailand bitcoin is really banned. Bangladesh is the worst place for BTC so far: because "anybody caught using Bitcoin could be jailed under the country's strict anti-money laundering laws"
I am not really familiar if they are really executing this law.
- Bitcoin is banned only if countries which are weak and insignificant from the global point of view economy or either afraid that their own national currency is too weak to compete with cryptocurrency (Bolivia, Bangladesh). Or they banned BTC based on totally idiotic claims and fake prejudice (Bangladesh). Some countries (Thailand) actually start to change their approach towards BTC - http://www.coindesk.com/bank-thailand-says-bitcoin-illegal-warns-use/
2. Bitcoin HAS NEVER been banned in China. This is a lie and total misconception. Chinese government financial institution can't use Bitcoin - that is all. Furthermore China is basically controlling bitcoin mining.
Great post. Thank you for the clarifications as well. I think bitcoin, at its state now, could be very hard to just kill off. Many people, countries and companies alike are beginning to see how it can help them personally or their businesses. It could be a negative move to shrug off something that can evidently do you alot of good. And, if and ever, in the scenario that it would totally be banned, then it would be negative because we would revert back to the usual currencies and transaction means we had before.