Why bitcoin is not supported in some countries? - page 100.

naughty1

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Quote from: Caelanpelley on July 04, 2017, 12:20:53 PM

Quote from: rajasumi2 on December 20, 2016, 10:52:59 AM

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

I agree with you. Although they are very developed and bitcoin can open up new pages of currency history. However, some countries still do not believe in bitcoin. It may be due to various reasons that bitcoin is not acceptable there.

You are wrong, nowadays, in the world, there are no countries to deny bitcoin, there are only two forms here: some countries accept and legalize bitcoin as a real currency, Again, countries that have not accepted bitcoin, but their citizens still use bitcoin normally.

Caelanpelley

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Quote from: rajasumi2 on December 20, 2016, 10:52:59 AM

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

I agree with you. Although they are very developed and bitcoin can open up new pages of currency history. However, some countries still do not believe in bitcoin. It may be due to various reasons that bitcoin is not acceptable there.

toaster3

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Quote from: yadi cihuy on July 03, 2017, 10:58:51 AM

Many people have known bitcoin lately and many of the world's policymakers already know about digital currencies like Bitcoin, but many of them have not made laws or legal rules about digital currencies because of the complexity of digital currencies like Bitcoin.
Therefore, from late 2013 to 2014 many warnings and directives from central banks and financial policy-making authorities in various countries have warned that Bitcoin has not been recognized by the state as an investment asset, instrument of payment, or a legitimate currency. Some of the institutions are anxious about the stability of the country's financial system, if large-scale adoption of Bitcoin occurs.
But as time passes, some countries begin to look at Bitcoin and digital currencies with different perspectives, and try to impose rules on the digital currency. Typically, regulation is not something that all parties support. But in the case of Bitcoin, regulation is a gift. Bitcoin regulation is something that the Bitcoin community has around the world.

Each country has its own rules and laws. If everyone starts using bitcoin in the country the government would be in loss because the country wont get enough taxes and etc. Their will be a great loss in the country's economy. That is the reason some countries are not supporting bitcoin.

xIIImaL

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Quote from: AmeSakibimasu on July 04, 2017, 11:48:54 AM

bitcoin is not really supported in other countries why? because some of people who abuse bitcoin too much for example they used bitcoin for selling drugs and every illegal things that can communicate through or bu using bitcoin but some of countries who supported this bitcoin they believe that in there country are very responsible to handle this

Don't under estimate the bitcoin saying that it is been used for illegal activities. Actually there is any strong proof for it. If it been used you when get this much adoption over bitcoin and implementing business with the block chain technology.
Once btc is known every people in cities of the developed countries then bitcoin will be easy to use for everyone.

Willitivity

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SUPPORTED and ACCEPTED are two different things. From my point of view, support has to do with being integrated into the economy while accept has to do with a person to person usage.
On the issue of support, bitcoin as a Cryptocurrency it is cannot be easily brought down on a day to day usage for transactions and payment. Bitcoin is not supported in my country because the technology required to use it is not available but it is acceptable, for instance if I have a Bitcoin enlightened Friend, we can choose to exchange and pay via Bitcoin.

Sinkova

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My country,Ukraine is not support Bitcoin. It will make easy for people to be more informed in Bitcoin.It could give new opportunities ,possibilities for my country.

AmeSakibimasu

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bitcoin is not really supported in other countries why? because some of people who abuse bitcoin too much for example they used bitcoin for selling drugs and every illegal things that can communicate through or bu using bitcoin but some of countries who supported this bitcoin they believe that in there country are very responsible to handle this

ki1l1ki

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The regulative condition in majority of the world is still undetermined, with absolutely no laws regarding bitcoins which means it is allowed, since it's not illegal, in another set of countries bitcoin is accepted and legalized (Canada, US, Australia, Japan, NK etc...), Few countries did put restrictions but not outright illegal like China and Russia.
As you can see the majority is still with allowing bitcoins, those refusing it are due to regulatory causes mostly, which should clear over time.

snowcrashed

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Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

Yeah to accept Bitcoin in some countries takes so much attention. the governments need to make sure that accepting Bitcoin WON"T let their countries down, they can not risk their couintries.

livinglightning

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Each country has different laws. Bitcoin only appears over 10 years. Therefore, the introduction of bitcoin into management in some countries is still limited. Acceptance of its existence in some countries is not available

TheGodFather

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Quote from: Roboabhishek on July 03, 2017, 04:48:26 PM

Yes, it will be quite sad for me to hear that they banned bitcoin because of some fraud and illegal activities they should consider the good use of bitcoins.
Even if they legally restrict the use of bitcoin there's no guarantee that criminals will stop using it.

Many countries prohibits their citizen to earn bitcoin because of that idea. Bad news leads to the government not to legalizes it. But some areas in the world has been accepted bitcoin as a legal money and it can be the payment for the things that you have been purchased. Hopefully someday it could be accepted and recognized.

Roboabhishek

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Quote from: Vikingr on July 02, 2017, 06:45:18 PM

Quote from: Noilee on June 28, 2017, 07:14:03 AM

Bitcoin is not supported in other countries because they protect their own currency. They afraid that their currency is down. The government is fear, they want to protect their own currency.

No that is not right that they restrict bitcoin because to protect their own currency but the actual reason is that they are of the opinion that with bitcoin some criminals will start their crimes and we will not be able to trace them with their financial activities.

Yes, it will be quite sad for me to hear that they banned bitcoin because of some fraud and illegal activities they should consider the good use of bitcoins.
Even if they legally restrict the use of bitcoin there's no guarantee that criminals will stop using it.

HeRetiK

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Quote from: jennywhzz on July 03, 2017, 09:59:29 AM

Quote from: ?? on ??

Quote from: sahiaman on July 03, 2017, 08:58:03 AM

Russia and INida been examining the currency but now several nation are accepting it widely

China,Japan and a lot more accepted it,though it might not be implemented or announced by the government in other countries it still allowed to be used by any country as long as they want to.

Many countries are officially accepting the bitcoins as they know and can forecast the important of early adoption of bitcoin in their economy. The rest of the countries which are opposing bitcoins will soon realize this as their biggest mistake.

I think a lot of the acceptance also stems from the fact that there's little to be done anyways. Putting Bitcoin in a legal framework is easier than fighting an uphill battle against the internet.

doomloop

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Quote from: Japinat on July 03, 2017, 02:31:26 AM

Quote from: Reid on July 03, 2017, 02:20:46 AM

Quote from: totaleclipseofthebank on July 03, 2017, 02:12:13 AM

Quote from: BCTalkaccountforsale on July 02, 2017, 08:47:53 PM

Quote from: mr.bitcoinerf11 on December 20, 2016, 09:40:19 AM

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

Because there are not many people like bitcoin in your country, the government do not abandon it. I can ensure that once there are many people get into bitcoin, the government will promulgate some regulation and restriction to avoid people using this cryptos

That is true.
Be wary once it is being populated.
This might change the fact that it is a free currency. There will be making some rules which you wont expect and they will be enforced with speed.
Once a lot of money is at stake they will want to have a part of that too.
This aint new considering they have done it with other commodities.

The government has to do what they think is right but big countries like japan and china can lead as an example that bitcoin is not a threat but in fact it will help to improve the economy of the country. I wish in the future to come some countries will see bitcoin as a good one including those who previously ban it, they have to review bitcoin as it could be a blessing to improve their economy.

bitcoin is spread in all over the world people are aware of it and they knows how to make it more popular as its dependent on internet and if bitcoin is not supported in some countries the reason could be the same that may be they don’t have proper internet connection or may be the government is not accepting its reality.

megynacuna

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Well most of these countries see Bitcoin as a threat to their national currencies especially the central banks and so they do everything within their power to fight against it becoming a legal tender within their jurisdiction. Secondly Bitcoin operations require consistent internet and computers or smart phones so poor countries suffer in this regard.

yadi cihuy

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Many people have known bitcoin lately and many of the world's policymakers already know about digital currencies like Bitcoin, but many of them have not made laws or legal rules about digital currencies because of the complexity of digital currencies like Bitcoin.
Therefore, from late 2013 to 2014 many warnings and directives from central banks and financial policy-making authorities in various countries have warned that Bitcoin has not been recognized by the state as an investment asset, instrument of payment, or a legitimate currency. Some of the institutions are anxious about the stability of the country's financial system, if large-scale adoption of Bitcoin occurs.
But as time passes, some countries begin to look at Bitcoin and digital currencies with different perspectives, and try to impose rules on the digital currency. Typically, regulation is not something that all parties support. But in the case of Bitcoin, regulation is a gift. Bitcoin regulation is something that the Bitcoin community has around the world.

jennywhzz

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Quote from: ?? on ??

Quote from: sahiaman on July 03, 2017, 08:58:03 AM

Russia and INida been examining the currency but now several nation are accepting it widely

China,Japan and a lot more accepted it,though it might not be implemented or announced by the government in other countries it still allowed to be used by any country as long as they want to.

Many countries are officially accepting the bitcoins as they know and can forecast the important of early adoption of bitcoin in their economy. The rest of the countries which are opposing bitcoins will soon realize this as their biggest mistake.

sahiaman

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Russia and INida been examining the currency but now several nation are accepting it widely

epitome

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@EthBooks so does that mean that only six countries have banned bitcoin out of two hundred plus nations ,that is a really good news,i thought there are more countries in that list,most of the countries are planning to make some regulations and hopefully most of the countries will either regulate or legalize bitcoin in the coming years.

warrior333

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Quote from: EthBooks on July 03, 2017, 08:32:01 AM

Bitcoin is not illegal because it poses any risk to the citizens of the countries where it is banned. Rather, it provides an alternative, open, P2P monetary system (and an exit for some) which is seen as a threat to their centrally-controlled, legacy monetary system. Some of the countries where btc is banned include:

1.Vietnam
2.Iceland
3.Bolivia
4.Ecuador
5.Kyrgyzstan
6.Bangladesh

What it means in the country to ban bitcoin? If you live in Vietnam, varies bitcoins on the Japanese stock exchange and using the dollars they print to the Bank card in the national currency. How can you deny such an operation? I don't believe it.

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