Post
Topic
Board Economics
Re: why bitcoin is banned by the government
by
hoanghoatham04
on 18/04/2018, 15:29:43 UTC
Quick attempt @ summary:

#1 Wealthiest demographics wield the most powerful political influence.

#2 Wealthiest demographics generally do not want young, hungry, upstarts starting a business in their garage which turns out to be the next apple or google.

#3 Small businesses have the potential to upset the status quo and could dethrone giants in banking, finance and other sectors. This implies those living on the top of the mountain could make some effort to maintain their reign while preventing others from climbing up the mountain after them.

#4 To some extent its in the wealthiest demographics self interest to maintain thire status quo, which implies keeping things like bitcoin which have potential to overthrow banking cartels, in check.


All of your ideas are correct, but I will add a few more. It is possible that the government can not manage Bitcoin and that they can not collect taxes on every Bitcoin transaction. And another factor is that they are afraid of many corrupt people taking Bitcoin money laundering