* If I many ask what is the major reason while some countries ruling class ban bitcoin transaction?
* What is the negative effects using crypto as currency?
* what harm does bitcoin contributes a country that can lead to ban?
Lose of control. One way of countries having control over their people is through the local currency. If Bitcoin ends up booming in that certain country, they lose a significant amount of control. The fact that they would most definitely take a hit in terms of taxes getting collected alone would heavily incentivize them to enforce a ban.
Probably, it is also governments who can't benefit bitcoin that's why they are banning it and let the bank prevails.
Taxes are the only way where authorities can benefit bitcoin but with that, they will surely increase the taxes for those who will invest on bitcoin.
Bitcoin will really have a hard time to become a traditional currency because most of the banks are against it and they are just relying on the use of fiat for its community.