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Topic: Why bitcoin is not supported in some countries? - page 12. (Read 98470 times)

sr. member
Activity: 574
Merit: 251
Because the government is afraid because the transaction with bitcoin is not through their bank, and they wont get any cut or taxes by it, and the another reason that the paper money wont get any value or just dropping from time to time, in my opinion.
The government's fear is certainly reasonable because the bitcoin feature is anonymous so that the corruptors will hide money in bitcoin, otherwise if bitcoin is used widely it will certainly cause big problems because bitcoin can not be controlled.
member
Activity: 148
Merit: 10
Since bitcoin is not generally accepted  because some countries go against it.  Therefore it cannot strive in those countries.  Taxes is not generated  from it,  government not making money from it neither bank not making money from it
Many countries are not support bitcoin because it is too risky. Government have no control over bitcoin because it is decentralized  transaction and it is through  online. They afraid  that they  can't  protect their people if they have something wrong. Like scamming because they have many bad people have an interest of it. The government can't  get back their money if there are scamming. Also bitcoin don't have a tax government can't benefit with it.
newbie
Activity: 30
Merit: 0
Perhaps most countries fear that Bitcoin will affect the economy in a negative direction, making the local currency may be devalued and it will make it difficult to control the market. And there are also growing concerns of illegal use of bitcoin such as paying for drugs through money laundering, pornography, and all other devices that conflict with the laws of their respective countries.
newbie
Activity: 84
Merit: 0
I think bitcoin is not supported by other countries its because they can't control or its illegality, but the most reason i think other countries dont have enough knowledge and technology to know about bitcoin and afraid that they cant control it in the future.
newbie
Activity: 33
Merit: 0
1. because they dont know much on bitcoin and how do they use it
2. because some countries dont what bitcoin because they cant control it
3. maybe they are planning all before they will use it
full member
Activity: 354
Merit: 100
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 some countries because of the laws that they have. In another way they did not support the bitcoin because they do not have enough trust to believe in bitcoin. Or they are not very knowledgeable what bitcoin really is. they did not know what are the benefits that they can get in using the bitcoin.
full member
Activity: 350
Merit: 100
Many countries are afraid that bitcoin supported will be dangerous, we all know that the bitcoin feature is anonymous so that everyone can store and transact safely without being identified their identity.
newbie
Activity: 4
Merit: 0
Some governments think that people would involve in money laundering, or people may lost their money cz its not 100% secure to have money in virtual form.
hero member
Activity: 700
Merit: 500
There are several reasons in every country why they are not supporting bitcoin. But the most likely reason they choose is bitcoin can't be fully controlled by the governments.
yes that is right a number of reasons are there which are causing that most of the countries are not accepting bitcoin, i think every country have their own rules and regulation, and still in most of the countries there is no tax on bitcoin therefore most of the countries are accepting bitcoin as legal currency in their countries.
newbie
Activity: 9
Merit: 0
because of if they can support the bitcoin economy value fall down it means complily the country prestige will be changed then we dont need government supported for banking even more changes happens but my option is bitcoin why ? we need change  Cool
full member
Activity: 462
Merit: 100
MYCRYPTOBANK.IO
There are several reasons in every country why they are not supporting bitcoin. But the most likely reason they choose is bitcoin can't be fully controlled by the governments.
newbie
Activity: 14
Merit: 0
maybe some country looks bitcoin like criminal , scam , MLM etc so goverment prohibit it
newbie
Activity: 112
Merit: 0
Since bitcoin is not generally accepted  because some countries go against it.  Therefore it cannot strive in those countries.  Taxes is not generated  from it,  government not making money from it neither bank not making money from it
newbie
Activity: 135
Merit: 0
each country has rules and laws, respectively. there is a consideration that is certainly very important. They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
full member
Activity: 364
Merit: 100
Since bitcoin is decentralized, it carries a number of problems for the state that will decide to accept it. And then the government chooses to try to accept it, or simply ban it.
member
Activity: 126
Merit: 10

Hello everyone, I myself come from Russia, our government is afraid that people will withdraw money from the country through crypto-currencies!
member
Activity: 322
Merit: 10
Bitcoin is a new, not yet proven invention and not all States are ready to risk and implement it on their territory. We just have to hope that things will change over time.
full member
Activity: 425
Merit: 109
I think banks have a great deal to do with it because you know Bitcoin was created for us , to help people and yes you work but you work from home and you work for yourself and normally they don't agree with this, given that Bitcoin is considered an enemy of the economy of some countries.
member
Activity: 154
Merit: 12
I think there are a number of reasons. They are afraid that people will launder money, they are afraid of corruption schemes. And the criminal turnover of money. And of course the uncontrolled turnover
jr. member
Activity: 170
Merit: 6
(┛❍ᴥ❍)┛彡Axi
Most of the countries just want taxes and regulations for bitcoin trading, to make sure that people don’t use it for illegal purposes. Otherwise, the general consensus is that bitcoin is illegal if its used for legal purposes. If I am not mistaken, only Venezuela has banned its citizens to use cryptocurrencies, so that they promote their own governmentally controlled oil-backed cryptocurrency called Petro (which sounds a bit like a nonsense).

I agree, the government afraid to use their people the cryptocurrency because they afraid to use it in illegal way or use it against them. And the government cannot controlled it.
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