Topic: Why bitcoin is not supported in some countries? - page 10. (Read 98470 times)
I believe the reason for this is not far fetched. They basically see bitcoin as a threat and a hydraheaded demon that needs to be nipped in the bud before the virus spreads and kills their economy.
They do not support bitcoin because they fear it will affect and control the paper currency, they are afraid they will not control it and they fear it will make the society become bad and unstable.
It depends on the country, coz in our country, bitcoin is not actually supported by our government nor banned. But from time to time media is airing some warning about bitcoin scams, they aren't saying that bitcoin is fake but they just revealed some scams that are using the word "bitcoin" to attract investors.
Because bitcoin could break their laws. Because bitcoin can cause a lot of trouble if they allow bitcoin to use. Bitcoin can use for crimes like money laundering, scamming or even use for ransom. Have you heard about ransom ware.As technology is evolving. Crime is also evolving. And its bad if terrorist use bitcoin for buying equipment's to make terror to people.There are some reason that bitcoin was prohibited in some countries. Bitcoin is working anonymously and this is a chance for peoples to do crimes with bitcoin without any personal identity. Moreover the most illegal transactions with bitcoin is drugs transactions
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 not supported in our country but it is not banned also. I think our government is neutral with it since base on the reports it is only 2% of the total population are into it. Some gov't do not support becs. It might be use by criminals and maybe people will lose money in it.
It is true that the Government can't make any profits from bitcoin and can't even put a tax on it because it is decentralized, but this doesn't mean that the Government will declare that the bitcoin is illegal, in some countries yes it is illegal, like Russia, Iceland, and so on, but not in all countries. Because here in our country, bitcoin is legal, but the Government is not accepting it yet as a payment on every transaction that we will have on our everyday living.
Maybe i think there is still a dominant that Bitcoin is something that is related to illegal activity or tax evasion, or its attitude is that Bitcoin is in trouble with the financial system just does not know what to do with it.
I think there is misconception about the cryptocurrency application, if we talk about Japan, Australia, South Korea. Actually these countries have seen potential in crypto currency and even japan has announced bitcoin as a legal tender inside the country. I think some of countries has threat, their citizens can use crypto for illegal transactions.
Governments do not support it because they can not control it. Controlling local currency is one of the most important things for every government.
Because bitcoin could break their laws. Because bitcoin can cause a lot of trouble if they allow bitcoin to use. Bitcoin can use for crimes like money laundering, scamming or even use for ransom. Have you heard about ransom ware? As technology is evolving. Crime is also evolving. And its bad if terrorist use bitcoin for buying equipment to make terror to people Why bother to taxes individual person if they can implement taxes to the exchanges site itself which is currently implemented now in most of the countries. Since bitcoin users used exchanges then that will be the one who will be taxed since they are the company and they are registered one. That's why you can some different fees in local exchange which is quiet far from the normal rates of other exchanges.Still good since no way we can cash out and use our bitcoin directly in most of the cases.
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
I think there are various reasons each state does not support cryptocurrency. There are security reasons, potential bubbles to the problem of terrorism. A number of countries such as China are also reasoned, banning other digital currencies because it will issue its own currency.
In my country there is a factor from banks that prohibit bitcoin and may affect other parties to have bitcoin banned in Indonesia. but now these bitcoins are allowed as digital assets not for transactions
I think it all depends on how financially progressive a nation is. A prime motivation to ban bitcoin is fear due to its potentially very disruptive nature. Obviously some central planners will be nervous about a decentralized technology.
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 not supposed by our countries because they don't want to die their currency
The number of people who misuse transactions using bitcoin so many crimes that make transactions using bitcoin without having to involve other parties such as transactions that initially through bank services so crime can be easily tracked but with transactions using bitcoin it will be difficult to track.
It makes the country unable to support the existence of bitcoin
It makes the country unable to support the existence of bitcoin
I think because they didn't understand the importance of btc and cant accept that it could be the future currency... And the reason why other country didnt support it because they have a low access in internet... We cant do anything about this... But as for us who understand it... the only thing we need to do is to prove to them that Bitcoin is part of modernization...
The main reason is the fear of these countries will be the volatility and uncertainty of digital currency. In addition, as quoted from bitcoinbans.com, another reason is the fear if the digital currency is used as financing of terrorism.
I think it is about the reason that bitcoin can do a huge amount of criminals. Government cannot control bitcoin that's why they control the country to stop from using it. Bitcoin is one of the most powerful thing in the world because it is online money that can use for some illegal things. Bitcoin can use to buy some illegal firearms or illegal drugs.
Every country has own reason that's why they banned bitcoin but because of banning bitcoin, the price was always affected and now we can see that the price was too dump that anyone would be bored and give up to bitcoin.
Every country has own reason that's why they banned bitcoin but because of banning bitcoin, the price was always affected and now we can see that the price was too dump that anyone would be bored and give up to bitcoin.
fear of replacing the original currency that is often used in the country as a valid transaction or payment instrument.
the fear of these countries will be the volatility and uncertainty of digital currency. another reason for fear if the digital currency is used as a financing of terrorism. that's why Bitcoin still can not be fully accepted in some parts of the developing world.
the fear of these countries will be the volatility and uncertainty of digital currency. another reason for fear if the digital currency is used as a financing of terrorism. that's why Bitcoin still can not be fully accepted in some parts of the developing world.
Because bitcoin has no taxed that's why some countries not supported bitcoin and some is afraid that their money will change by bitcoin.
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