Topic: 11 The country still considers Bitcoin an illegal currency (Read 139 times)
we just need to wait some years until modern countries understand that crypto currencies can maintain old economics and help to make transactions easier. But I think it will be a tough job because everybody understand that crypto can be used for money laundry. On the other today there are lots of business where you can do it.
they will accept it later on, because bitcoin has gained a tremendous fame through out the years. and some other big countries already accepted it. if they want to fall behind they can do what ever they want.
I hope Africa begins to take cryptocurrency seriously as a means of establishing a trustworthy financial infrastructure.
They may be banning bitcoin today but if they will realize that the economy of those country who used cryptocurrency and bitcoin improves then they will shift on the last hour. And we are so lucky that we have bitcoins in our wallet since if they will start to adopt bitcoin then we could be millionaires at that time.
According to data from Coin.dance, Bitcoin is not restricted to 107 out of 251 countries or territories. "Unrestricted" means that the use of Bitcoin is considered by the government to be legal or that the government of that country does not have a clear restriction on the use of codecs in general.
Restricting innovation will make it less developed:
Regardless of the Islamic countries, the basic problem remains the same: central banks do not want to break the monetary monopoly.
Unfortunately for these countries they have not yet realized that such policies are useless. Although Bitcoin may indeed be limited, it can not be extinguished completely - just like the internet. Technological innovation is always preceded by government action and control of capital flows outward, making the country increasingly backward.
Moreover, Bitcoin is not like ordinary paper money. It is constantly evolving with its own ecosystem. The fact that the Bitcoin network can now be accessed using all types of devices, from cell phones via SMS to satellite, and the development of decentralized trading platforms.
Just as early Internet access nations (in the 80s and 90s) have become fertile ground for companies like Apple, Microsoft, Cisco, Skype, etc., making them increasingly rich. than.
Bitcoin bans will make these countries more vulnerable to development. For example, Afghanistan and Bangladesh are among the poorest countries in the world.
It is no coincidence that rich countries like Switzerland, Singapore and Japan accept pre-encoding business. They even compete to become "Blockchain centers" and "pre-codec countries" by luring companies through a friendly legal environment and even more support for businesses. .
Bitcoin business brings innovation, which means there will be more capital and tax revenue from it, as well as better job creation and living standards for people in that country.
A global map of the extent to which pre-coding permits operations in countries.
Legitimacy statistics of Bitcoin around the world.
Restricting innovation will make it less developed:
Regardless of the Islamic countries, the basic problem remains the same: central banks do not want to break the monetary monopoly.
Unfortunately for these countries they have not yet realized that such policies are useless. Although Bitcoin may indeed be limited, it can not be extinguished completely - just like the internet. Technological innovation is always preceded by government action and control of capital flows outward, making the country increasingly backward.
Moreover, Bitcoin is not like ordinary paper money. It is constantly evolving with its own ecosystem. The fact that the Bitcoin network can now be accessed using all types of devices, from cell phones via SMS to satellite, and the development of decentralized trading platforms.
Just as early Internet access nations (in the 80s and 90s) have become fertile ground for companies like Apple, Microsoft, Cisco, Skype, etc., making them increasingly rich. than.
Bitcoin bans will make these countries more vulnerable to development. For example, Afghanistan and Bangladesh are among the poorest countries in the world.
It is no coincidence that rich countries like Switzerland, Singapore and Japan accept pre-encoding business. They even compete to become "Blockchain centers" and "pre-codec countries" by luring companies through a friendly legal environment and even more support for businesses. .
Bitcoin business brings innovation, which means there will be more capital and tax revenue from it, as well as better job creation and living standards for people in that country.
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