Topic: Why bitcoin is not supported in some countries? (Read 98470 times)
These are the things that government fears to happen since there were still no guarantees in the safety and ability of bitcoin once hackers and criminals attack or make it as their tool on doing illegal.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
All others are just tolerating or ignoring it or it's banned. The reason is probably because there is stil dominant thinking that Bitcoin is something connected with illegal activities or tax evasion, or the attitude is that Bitcoin is threath to financial system or the simply just don't know what to do with it.
maybe they are too afraid of money laundring. most of digital money used for a crimes.and goverment in each country has their own reason about the policy, althought we can't predict futures of bitcoin btw,but who know the futures will changed.
Many countries have very strict control over the payment of taxes and if a person is living beyond its means, which has declared, that its mandates under the laws.
They overview bitcoin as scam and legalities could not be applied. Yes it is true but for some reason many are believing in bitcoin as a form of investment especially on Japan where thr cryptocurrency is being originated and introduced. However, the system compromises the standards of those government especially those countries are systematize and are also contracdicting on their beliefs. Thus, muslims country are having some rumors posted on this forum that bitcoin is againsy on their belief and they are restricted to join cryptocurrecy. Others are those centralized government who were intimidated with bitcoin trust system as bitcoin is decentalralized and there is no third party involved in transactions and it compromises security. Yet so far bitcoin os doing good and so does the investors.
Hey there, I think Bitcoin is depending on the laws. But Bitcoin is not controlled by the banks or government. For the people whose interested using like us are not a problem at all. It can help to pay bills and earn money easily.
Thumbs up for Bitcoin! They're helping a lot of people.
Thumbs up for Bitcoin! They're helping a lot of people.
These are the things that government fears to happen since there were still no guarantees in the safety and ability of bitcoin once hackers and criminals attack or make it as their tool on doing illegal.
As you can see bitcoin is originally created for underground transaction so their government is prohibiting people from using it
In every country has different reasons, like in my country, the government forbids the use of bitcoin for all digital transactions in my country, the government in my country is also afraid of bitcoin bubbles that can make bitcoin exchange rates rise and fall dramatically in a short time, with that why my country does not support bitcoin.
Each countries have different rules being imposed when it comes to nation's momey. They imposed and regulates on what they think is favorable for there country's economic status. Maybe one of the reasons why bitcoin is not acceptable in some countries beacause they could not take control of it, they don't get a hold any taxes from it because it is a decentralized crypto currency. Wherein one nation will lose money that could be use for there economic growth.
There are many reasons why bitcoin is not accepted by some countries. Bitcoin, for example, is used by some criminals as a way of dealing with crime. Some officials have used bitcoin to transfer money, so some countries have banned it.
I agree with you that there are many reasons why until now some countries is still not supporting bitcoin, first of all is the bitcoin is can surely affects banks in the future so a lot of countries is afraid when it happens and some countries are afraid that bitcoin can be able to used by some criminals all over the world.
Many countries that forbid bitcoin are usually feared because of terrorist financing and money laundering by corruptors, and skill problems with you using the GPU is a skill because not everyone can.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Bitcoin is decentralised and they can't control it. They can't impose tax on it and they have found it as a threat that maybe one day bitcoin can overcome fiat money.
Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .
Lack of proper knowledge and information and the negative news/speculations spread all over say something as well on their stand. Some countries regard bitcoin as a scam only that is unsafe for their people and risky as well. They do not want to utilize digital currency and think they that it is a threat to their existing traditional fiat currency.
Because some countries fear the presence of bitcoin would threaten their economies, when decentralized applied course will be easy for speculators easy to controlling economy.
Actually, all countries see bitcoin as a challenge to their economy.They fear that illegal transactions would take place via bitcoins.They feel they would not be able to impose tax on bitcoin users.In Bangladesh, even imprisonment is given if people found using bitcoin.In contrast to this, a micro nation called Liberland has announced bitcoin as their national currency.Bitcoin cannot be banned completely.Banning bitcoin means banning internet and its highly impossible.
Because they fear Bitcoin. One of the main reasons why governments fear Bitcoin is the problem of taxation. Governments survive on taxes being collected on profits and revenue made either by citizens or financial operations carried out within a nation. Given the anonymity of Bitcoin and cryptocurrencies, many transactions can be done tax-free which will lead to governments losing several millions of dollars.
I think that first of all because of anonymity! Bitcoin uses drugs for drugs, money laundering and other illegal actions! But this does not cancel its advantages
Many countries can not accept the fact that bitcoin is a free currency and is not subject to anyone. Srains like China and Korea have a special form of power. Who controls everything and forbids many things. Therefore, they and prti kriptovalyut and bitcoin in general. But we do not need to look at them. We glory to God do not live in such countries and everything is OK with bitcoin in us
I think bitcoin is not supported in some countries of the laws that they have. Yes, bitcoin is risky too. that is why some countries are afraid using bitcxoin because they need to face the risk of bitcoin.
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