Why bitcoin is not supported in some countries? - page 104.

Duzter

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Quote from: Kava on June 27, 2017, 05:03:15 AM

Quote from: btctousd81 on June 26, 2017, 04:09:31 AM

becuase govrnement can't control it, so they ban it.
btc is decentralised ., that is why.

These are the main reasons that the government of some countries does not accept bitcoin. They can not make bitcoin a part of the economy. All this is due to the fact that the price of bitcoin is too unpredictable and volatile

Several factors starting from decentralization to volatility can be indicated as reasons why Countries oppose the use of bitcoin. In reality there are countries that has overcome such issues and were successful. So when governments starts focusing on technology based growth they'll start accepting.

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Quote from: btctousd81 on June 26, 2017, 04:09:31 AM

becuase govrnement can't control it, so they ban it.
btc is decentralised ., that is why.

These are the main reasons that the government of some countries does not accept bitcoin. They can not make bitcoin a part of the economy. All this is due to the fact that the price of bitcoin is too unpredictable and volatile

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Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto-currency is a punishable offense.

DoublerHunter

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Quote from: Japinat on June 27, 2017, 02:04:20 AM

Quote from: Remainder on June 27, 2017, 02:01:05 AM

Maybe there government won't accept bitcoin but there citizen is already have or earn bitcoin and that's the way that government can't stop bitcoin.

That's very serious when the government does not accept bitcoin because it will lead to making bitcoin as illegal, the law shall always prevail and whatever the government are protecting for not accepting bitcoin is we do not know, what we can do is just to follow the law to avoid problem in the future to come.

It is normal to see a government that is not accepting or adopting bitcoin for the reasons that can harm us in some scenarios. We should just follow the government's order because they have the power and right to dictate us but we should not lose hope because there is always a chance for bitcoin to get accepted and i believe that if bitcoin will continue to maintain doing good then government will change their mind and for sure they will adopt it.

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Quote from: Remainder on June 27, 2017, 02:01:05 AM

Maybe there government won't accept bitcoin but there citizen is already have or earn bitcoin and that's the way that government can't stop bitcoin.

That's very serious when the government does not accept bitcoin because it will lead to making bitcoin as illegal, the law shall always prevail and whatever the government are protecting for not accepting bitcoin is we do not know, what we can do is just to follow the law to avoid problem in the future to come.

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Maybe there government won't accept bitcoin but there citizen is already have or earn bitcoin and that's the way that government can't stop bitcoin.

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Quote from: Smarty14392 on June 27, 2017, 12:38:07 AM

I invested the same about bitcoin. Bitcoin is not legalised in many countries because of the illelagl ways used with bitcoin. I made some research about the illelagl ways and found something fissy about deep web. Thats the main reson behind bitcoin been illelegal. Deep web used bitcoin for selling drugs and all illelegal activities. If they are shut down, bitcoin will be legalizefd according to me. Bitcoin is a best cryptocurrency to invest and used for trading. If used legally, bitcoin has always proven the best.

Yes Bitcoin are used to transact illegal in deepweb to buy/selling drugs, that's why many countries are not supported to use Bitcoin. Like in Bolivia its statement says that Bitcoin is illegal to use any currency that is not issued and controlled by a government or an authorized entity.To be clear though, the world’s first decentralized cryptocurrency is not illegal or supported because it poses any risk to the citizens of the countries. They never realize the value of Bitcoin that help to us to earn money by using it.

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I invested the same about bitcoin. Bitcoin is not legalised in many countries because of the illelagl ways used with bitcoin. I made some research about the illelagl ways and found something fissy about deep web. Thats the main reson behind bitcoin been illelegal. Deep web used bitcoin for selling drugs and all illelegal activities. If they are shut down, bitcoin will be legalizefd according to me. Bitcoin is a best cryptocurrency to invest and used for trading. If used legally, bitcoin has always proven the best.

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Quote from: Souldream on June 26, 2017, 11:32:05 AM

Quote from: ?? on ??

Reasons why some countries did not support bitcoin it because of fear and ignorance, to protectionism of their national currency, to building a new currency in bitcoin’s image. The list, in general, is not much above ten, but that is subject to change, as many countries have not made an official decision for or against bitcoin. Some are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same.

yes because of lack of knowledge hinders them to to learn bitcoin especially those who live when internet is not yet created. they were afraid because they dont believe that this could be true and they will earn much here.

Lack of knowledge is very risky, before one will use bitcoin, he needs to ensure he understand how to transact
and most especially safeguard his money. Everything can be learn but it will take a lot of patience, one should be really willing
in order to eventually understand bitcoin.

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Quote from: ModGirl on June 23, 2017, 05:41:47 PM

Quote from: doomloop on June 20, 2017, 07:00:33 PM

Quote from: NEWGOODOUBLE on June 17, 2017, 03:06:31 AM

Quote from: Alexila on June 16, 2017, 11:50:31 PM

Bitcoin does not need to be supported by countries. Its supported by the blockchain and everyone can use it with an internet connection.

Yeah bitcoin can live without government assistance and whoever that decentralization function .. even though bitcoin is prohibited in some countries even though it will not make bitcoin dead or lost because it all depends on the user itself. Users can still use bitcoin freely for being anonymous and being on the internet

Bitcoin has is a very huge web if a few countries are not accepting Bitcoin it does not mean that it will be dead or will go vanish from that particular country. it is not spread everywhere, people are still very interested in using Bitcoin as it is profitable for people if not for government but for all people of that country. they have great faith in bitcoin profit and want to earn through it as much as they can earn.

No this is not fact more countries has centralized bitcoin for there internal trade and many countries will legalizing bitcoin in the future. So this is not right that countries not supporting bitcoin and if some countries not supporting bitcoin is just because of un awareness and having no internet facility but it will be covered in future

Probably i don't think that country is not supporting bitcoin.Bitcoin does not belong to country but bitcoin belongs to people.Now a days people are spending in bitcoins to earn more.If it's about some countries then take example of Afghanistan,Sudan there people are not that much educated therefore they don't know what is bitcoin even they don't know how to practice our religion.

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Quote from: ?? on ??

Reasons why some countries did not support bitcoin it because of fear and ignorance, to protectionism of their national currency, to building a new currency in bitcoin’s image. The list, in general, is not much above ten, but that is subject to change, as many countries have not made an official decision for or against bitcoin. Some are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same.

yes because of lack of knowledge hinders them to to learn bitcoin especially those who live when internet is not yet created. they were afraid because they dont believe that this could be true and they will earn much here.

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Quote from: ladydark on June 26, 2017, 06:21:57 AM

That imprisonment is given in Bangladesh if found using bitcoins.Some governments fear that bitcoin usage would promote illegal goods trade more and also they would loose their tax revenues.For example,just before two months five youth were caught in india using drugs and their transactions was found to be in bitcoins.So,indian government went to the extent of announcing bitcoin as illegal.But thank god,now it has changed its decision and had shown green flag to legalize bitcoin.Same is the situation with other countries too.

The whole tax revenue story is pretty stupid.
How can you and how will you try to avoid taxation with bitcoins?

You have to issue receipts you have to buy your products from a source you have to pay people.
Even with bitcoin you will still have to do those.
Furthermore it will be even more dangerous to avoid taxation with bitcoin if you're a shop for example.
Getting cash you can toss that in your pants but with bitcoin all the transactions will be there in the blockchain and the details on your computer.
Trust me , tax avoidance won't grow that much with bitcoin.

ilovefeetsmell

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Quote from: thunderbitz2717 on February 04, 2017, 12:44:17 PM

It is probably because of business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy, consequently they're doing everything in which bitcoin can't enter to their country, maybe it is also a threat for them too.

They will assure the safety and security of the business. They want to get for service rendered. Bitcoin is not a threat for everyone instead it is the one source of income. The government does not allow to enter the bitcoin in their country to prevent the imbalance of money. One of my greatest achievement is to have Bitcoin in my wallet. Glad to know that I have been here in bitcointalk even though the government didn't implement in my country. I don't really know if bitcoin is legal in my country as long I use it properly and good way.

ladydark

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That imprisonment is given in Bangladesh if found using bitcoins.Some governments fear that bitcoin usage would promote illegal goods trade more and also they would loose their tax revenues.For example,just before two months five youth were caught in india using drugs and their transactions was found to be in bitcoins.So,indian government went to the extent of announcing bitcoin as illegal.But thank god,now it has changed its decision and had shown green flag to legalize bitcoin.Same is the situation with other countries too.

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Quote from: SHAWN-MIDWAYS on June 25, 2017, 11:28:43 AM

bitcoin is not supported in some countries because its a way to minimize or prevent others from illicit activities

and for other security conscious countries i think its a counterterrorism strategy thats why they have it banned

Somehow that is right.
They might have learned that it could be a culprit for an easy access with arms dealing and maybe illegal drugs too. This two can make real heavy amount of money and are easy way to be sold.
Terrorist group would be most likely turn into bitcoin seeing a hard way for the government to trace them.

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becuase govrnement can't control it, so they ban it.
btc is decentralised ., that is why.

abayan

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Quote from: Kawasanz on June 25, 2017, 10:15:22 AM

I think why many countries reject BITCOIN,
No one can know how many bitcoins themselves and can not pull their taxes on the country, so they think it is not profitable to even be a ghost for their banking,
So it's fine for countries that resist bitcoin to issue ultimatums to their communities

They reject bitcoins while some government officials have their bitcoins this is the reality and why some countries reject it because the taxes just like what you've said .Well in my country theres a company which operated and through their application you can buy and sell bitcoins with partnership of banks so you can withdraw and anything else that canbuy online althoughit is convienient buy soon yhey will put taxes on it as the news said .

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Quote from: vok-wok_hok on June 25, 2017, 03:37:18 AM

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.

in think still in majority of countries bitcoin is not not consider as legal currency but still people are using it, to me i think the most import is that the people of such countries may know about bitcoin, because still most of the countries have not idea about bitcoin and they need proper education about it.

SHAWN-MIDWAYS

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bitcoin is not supported in some countries because its a way to minimize or prevent others from illicit activities

and for other security conscious countries i think its a counterterrorism strategy thats why they have it banned

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I think bitcoin is not supported in some countries because people educated from medias create the fear about bitcoin

These medias are being paid by those people that wants to stop bitcoin's popular on a country. And even they are not paid, they just want to spread incompetent news to the people. I don't trust media anymore as they are truly not going to give you the proper news and they are always lacking of the truth information.

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