Some countries may fear that they would lose their revenues which they get from taxes.They fear that they may not be able to control the economy since bitcoin is a decentralized currency.They also fear that bitcoin may increase trade of illegal products in the country.
We are all proud of the anonymity of our investments and revenues, dealing with bitcoin. And at the same time we are still talking about possible assistance to countries. I believe that this is a completely opposite concept. 
Topic: Why bitcoin is not supported in some countries? - page 103. (Read 98470 times)
Some countries may fear that they would lose their revenues which they get from taxes.They fear that they may not be able to control the economy since bitcoin is a decentralized currency.They also fear that bitcoin may increase trade of illegal products in the country.
That is the predicament of the government that is why they do not support the use of bitcoins. People who earns through bitcoin was able to jump or to escape taxes. But maybe some only because here in our country when we will encash it or we will buy something there is a corresponding fee. So it is like for some sort of tax. And for the government to use it, they need to have a thorough study for them to use bitcoin.
Some countries may fear that they would lose their revenues which they get from taxes.They fear that they may not be able to control the economy since bitcoin is a decentralized currency.They also fear that bitcoin may increase trade of illegal products in the country.
That is right. that is one of the most that i also think why other countries doesn't accept bitcoin because they think that the people will just use bitcoin instead of the usual remittances and because of that they will get lower amount of money from the taxes of remittances because people are just smart and they start to use bitcoin because of its cheap fees and faster transaction. 
Some countries may fear that they would lose their revenues which they get from taxes.They fear that they may not be able to control the economy since bitcoin is a decentralized currency.They also fear that bitcoin may increase trade of illegal products in the country.
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
2. They consider bitcoin as a threat to their national currency/competitor/their whole centralized monetary system.
Bitcoin is a threat to the economy of any state. Monetary system States is completely controlled by the government that it is impossible to do with bitcoin. The government will never agree to accept the bitcoin.
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
2. They consider bitcoin as a threat to their national currency/competitor/their whole centralized monetary system.
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
If I am right then only four countries have banned bitcoin. Currently most of the countries are taking an open-minded approach towards bitcoin, Japan legalising bitcoin, India on its way to legalise bitcoin, Australian government removing goods and services tax on purchasing cryptocurrencies. These four countries, Bangladesh, Ecuador, Bolivia, and Kyrgyzstan have banned bitcoin probably because:
1. Being decentralized these governments think that bitcoin would be used for scamming, money laundering and financing terrorism.
2. They consider bitcoin as a threat to their national currency/competitor/their whole centralized monetary system.
3. Bitcoin lacks security and it is not possible to determine it's exact value (volatility) so a potential threat to people's investments.
In future as more countries start putting some financial regulations on bitcoin and make it a part of their economy, not
parallelly or alongside their national currency, but still a legal/regulated status would force countries that are not bitcoin friendly to change their stance.
They don't legalize the bitcoin because they have a wrong information about it. That is the main reason why many governments doesn't like the bitcoin. The don't know also the purpose and the meaning of the bitcoin
I don't think that's the only reason. Countries never wanna miss the opportunity of tax. If people are using bitcoin, they can't charge any tax from their citizens.
Its no different from offshoring, as soon as you want to spend the bitcoins the authorities will ask questions. There is absolutely no reason countries can't tax bitcoins the same as anything else.
They can tax the users when converting it to fiat but not for people who are just holding their bitcoins.
There best chance is to regulate all exchanges according to their guidelines.
They don't legalize the bitcoin because they have a wrong information about it. That is the main reason why many governments doesn't like the bitcoin. The don't know also the purpose and the meaning of the bitcoin
I don't think that's the only reason. Countries never wanna miss the opportunity of tax. If people are using bitcoin, they can't charge any tax from their citizens.
Its no different from offshoring, as soon as you want to spend the bitcoins the authorities will ask questions. There is absolutely no reason countries can't tax bitcoins the same as anything else.
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
Maybe because they are poor of knowledge about in bitcoin, or it could be they're not open minded about it, might afraid in bitcoin something like that.
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
Obviously we know that bitcoin gives us a anonymous transactions without getting any trase in the country so i guess also bitcoin is a treat in physical money it caould make the real cash disappear but in our country real cash is regulated by the government.
Many criminals are using bitcoin such as legalizing crime
They don't legalize the bitcoin because they have a wrong information about it. That is the main reason why many governments doesn't like the bitcoin. The don't know also the purpose and the meaning of the bitcoin
I don't think that's the only reason. Countries never wanna miss the opportunity of tax. If people are using bitcoin, they can't charge any tax from their citizens.
They don't legalize the bitcoin because they have a wrong information about it. That is the main reason why many governments doesn't like the bitcoin. The don't know also the purpose and the meaning of the bitcoin
I think bitcoin is not supported in some countries because people educated from medias create the fear about bitcoin
Bitcoin is not supported in these countries where people are not interesting to go for online jobs or they are uneducated people because I know that bitcoin is accepted every where and now everyone know that it is not used in illegal activities much like other currencies.Just people need to understand what is bitcoin.
This is probably the most controversial issue with bitcoin, the fact it isn't regulated and anonymous this leads to significant regulating issues with countries trying to have complete control on the Tx's in their countries like India and Russia/China.
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
Some countries dont support bitcoin due to security purposes. Unlike 1st world and advance countries, some countries dont have the capacity to prevent and detect malpractices using advance technologies such as cryptos. Also, not all countries have good internet acces. I believe bitcoins will be accepted all over the globe in the future but as for now, lets just accept that not all are as open-minded as us interms of internet money.
Each country has its own laws, but many are hampered by the lack of internet to use bitcoin. Also, the state also wants to gain control and benefit from this currency.
Yes every country has their own law. But I think in modern time internet is available everywhere in the world. And there may not be a single country where they do not have the internet facilities, because even in Afghanistan the internet facility is available there. In such countries people are not using bitcoin because they have the lack of information about bitcoin. we need to introduce bitcoin there and hope that they will start using bitcoin.
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.
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