Topic: Why bitcoin is not supported in some countries? - page 109. (Read 98470 times)
Perhaps everyone's assumption about bitcoin is different and sometimes bad assumption is more dominant among the public who do not know about bitcoin completely. But bout punishment 6 months for just using bitcoin is very arbitrary rules because not everyone using bitcoin for illegal things.
Maybe some conservative nations believe that btc accreditation will increase the crime rate, they do not trust btc's security. And with the thought of recognizing the btc will affect the country's finances and especially the currency price without thinking that btc will diversify its way of doing business in a cooperative economy.
Some of the countries or their governments are very conservative and they reject all attempts to break or bypass their conventional economic system. And they simply ban bitcoin or all other digital assets.
I've read in some article abaout bitcoin which is pro and contra in its use, the conclusion is :
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering or terrorism financing. However, transactions with bitcoin in Russia are very large and underground.
Russia is in the red category, but the transaction is huge. The bitcoin transactions there account for 20 percent of all bitcoin transactions worldwide.
Meanwhile, China, India, Thailand and Kazakhstan still have debate over bitcoin. In China, for example, bitcoin circulates freely with warnings. Prohibition applies to companies, but the public is allowed transactions with bitcoin as a commodity trading activity on the internet.
Many countries respond to bitcoin transactions with permissiveness, which is marked by a green legal status. In the United States, bitcoin may be circulated as an electronic transaction.
In Singapore, the central bank decides not to interfere with transactions with bitcoin, but will impose taxes because bitcoin is considered a commodity.
In Malaysia, the central bank allows transactions with bitcoins. However, people are encouraged to be careful in transacting and investing with the virtual currency
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering or terrorism financing. However, transactions with bitcoin in Russia are very large and underground.
Russia is in the red category, but the transaction is huge. The bitcoin transactions there account for 20 percent of all bitcoin transactions worldwide.
Meanwhile, China, India, Thailand and Kazakhstan still have debate over bitcoin. In China, for example, bitcoin circulates freely with warnings. Prohibition applies to companies, but the public is allowed transactions with bitcoin as a commodity trading activity on the internet.
Many countries respond to bitcoin transactions with permissiveness, which is marked by a green legal status. In the United States, bitcoin may be circulated as an electronic transaction.
In Singapore, the central bank decides not to interfere with transactions with bitcoin, but will impose taxes because bitcoin is considered a commodity.
In Malaysia, the central bank allows transactions with bitcoins. However, people are encouraged to be careful in transacting and investing with the virtual currency
Sounds like bitcoin is like is selling drugs ha?
I didn't know there are some countries are prohibiting bitcoin. What kind of law is that?
The officials in those country maybe have nothing to pass a law that's why they pass a law that prohibits the usage of bitcoin. They are morons.
Just like leave the bitcoin alone and mind their own business.
That's not the fault of bitcoin, but the financial inefficiency of most of the countries banning it, or the fear of an unregulated currency in some countries -which do not believe in anything "free"-
Russia and for a brief time China, banned bitcoin for users due to the fear of increased devaluation of the currency if was traded directly to USD, something these countries are used to doing monopolizing the economy of their countries. Ecuador, mostly due to fear of the unregulated community and currency.
Russia and for a brief time China, banned bitcoin for users due to the fear of increased devaluation of the currency if was traded directly to USD, something these countries are used to doing monopolizing the economy of their countries. Ecuador, mostly due to fear of the unregulated community and currency.
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
Each country has the principles and legal basis of their own. The ban on bitcoin, too, they concern the risk that bitcoin may cause.A part also of the bitcoin network very difficult to manage, and crime can strike at any time.Although banned, but the user can also access the bitcoin easily through the internet and use them.Beside the principles due to the anonymity, though it is possible for tracking, creates some hesitance for few countries.
Though our Country is hesitating, but it might accept Bitcoins legally, there are chances. But to do so they will make some rules if someone uses it.
each country has rules and laws, respectively. there is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.
It's true that every country has rules, and my own country has not been approved, I'm sure someday acceptable to its existence 
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
Each country has the principles and legal basis of their own. The ban on bitcoin, too, they concern the risk that bitcoin may cause.A part also of the bitcoin network very difficult to manage, and crime can strike at any time.Although banned, but the user can also access the bitcoin easily through the internet and use them. 
my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so
We're lucky because our country accept bitcoin. Drugs was never be supported in any country because its illegal and it can cause war and other crimes. I think the reason why bitcoin is not accepted in some country is because of their law and policy. bitcoin is accepted as well in my country so
Bitcoins is new in technology of digital currencies without regulator, it can be dangerouse for invest in bitcoins also bitcoins is anonymous, many people who doesn't understanding about bitcoins, bitcoins be considered place to money laundering, i think that is some reasons some countries doesn't support for bitcoins.
I think one of the reasons why some countries don't supported Bitcoin is that people (or criminals) can use Bitcoin as a anonymous way to send money to each other, on one can track their transactions so that if they use Bitcoin to break the rules, the government can not do anything about them
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
No country would want to accept a coin that can't be controlled.
If the coin market will keep on growing and will worth 1 trillion or more we will start to see man countries trying to deal with this "threat" in many ways.
Some will accept it and some will ban the use of this coin.
If the coin market will keep on growing and will worth 1 trillion or more we will start to see man countries trying to deal with this "threat" in many ways.
Some will accept it and some will ban the use of this coin.
I think because the State banned the use of the bitcoin fears if authorized then it could make real money left. In addition, there has been no exchanger that support.
The only clear answer that I can give is that each country has its own laws. Perhaps they take Bitcoin as a threat. One does not need to pay any taxes for Bitcoin and this will affect their economy. However, fervent Bitcoin users still use them.
It is a shame though. I think Bitcoin and fiat go hand in hand. They will work well together.
Yeah they have the laws but i think they see already see the bad side of bitcoin first rather than seeing the good things about it so it makes them think that bitcoin is not worth it and it was a junk currency that can't help their country but they didn't know that they can do a lot of things to be sure that bitcoin is worth it to use in a country for security and also cheaper transactions. It is a shame though. I think Bitcoin and fiat go hand in hand. They will work well together.
The only clear answer that I can give is that each country has its own laws. Perhaps they take Bitcoin as a threat. One does not need to pay any taxes for Bitcoin and this will affect their economy. However, fervent Bitcoin users still use them.
It is a shame though. I think Bitcoin and fiat go hand in hand. They will work well together.
It is a shame though. I think Bitcoin and fiat go hand in hand. They will work well together.
Bitcoin does not need to be supported by countries. Its supported by the blockchain and everyone can use it with an internet connection.
Because they only see the negative sides of the bitcoin. They only say that the bitcoin is really bad and illegal. That is the main reason why many governments in different countries is against the bitcoin.
I think the main reason is because they can not control bitcoin. Fiat price can influence the economy of the country so they afraid if their citizens are change their fiat to bitcoin that make the their fiat price down.
I've read in some article abaout bitcoin which is pro and contra in its use, the conclusion is :
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering or terrorism financing. However, transactions with bitcoin in Russia are very large and underground.
Russia is in the red category, but the transaction is huge. The bitcoin transactions there account for 20 percent of all bitcoin transactions worldwide.
Meanwhile, China, India, Thailand and Kazakhstan still have debate over bitcoin. In China, for example, bitcoin circulates freely with warnings. Prohibition applies to companies, but the public is allowed transactions with bitcoin as a commodity trading activity on the internet.
Many countries respond to bitcoin transactions with permissiveness, which is marked by a green legal status. In the United States, bitcoin may be circulated as an electronic transaction.
In Singapore, the central bank decides not to interfere with transactions with bitcoin, but will impose taxes because bitcoin is considered a commodity.
In Malaysia, the central bank allows transactions with bitcoins. However, people are encouraged to be careful in transacting and investing with the virtual currency
The presence of bitcoin as the virtual currency reaps the pros and cons. Bitcoin is considered to facilitate financial transactions. However, transactions with this virtual currency can also raise the risk of money laundering.
Different countries respond differently to the presence of bitcoin in the country.
The bitlegal.net site classifies three legal statuses of bitcoin in different parts of the world with color indicators. A country colored green means allowing bitcoin, yellow means there is still a debate, and red means forbidding.
Russia and Iceland are the countries that prohibit the use of bitcoin. According to Iceland's central bank, transactions with bitcoin are considered as movements of capital abroad and illegally due to capital controls conducted in the country after the collapse of the banking system in 2008.
The Russian central bank warned businesses using bitcoin as a means of payment would be potentially considered to be involved in money laundering or terrorism financing. However, transactions with bitcoin in Russia are very large and underground.
Russia is in the red category, but the transaction is huge. The bitcoin transactions there account for 20 percent of all bitcoin transactions worldwide.
Meanwhile, China, India, Thailand and Kazakhstan still have debate over bitcoin. In China, for example, bitcoin circulates freely with warnings. Prohibition applies to companies, but the public is allowed transactions with bitcoin as a commodity trading activity on the internet.
Many countries respond to bitcoin transactions with permissiveness, which is marked by a green legal status. In the United States, bitcoin may be circulated as an electronic transaction.
In Singapore, the central bank decides not to interfere with transactions with bitcoin, but will impose taxes because bitcoin is considered a commodity.
In Malaysia, the central bank allows transactions with bitcoins. However, people are encouraged to be careful in transacting and investing with the virtual currency
Because they only see the negative sides of the bitcoin. They only say that the bitcoin is really bad and illegal. That is the main reason why many governments in different countries is against the bitcoin.
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