Why bitcoin is not supported in some countries? - page 124.

Mumbeeptind1963

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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

its because of the country law in each country, we cannot change that because we wanted and because we want to earn. just follow the rules and the money is always there.

hellowarda

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Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.

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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

They believe that bitcoins will be used for buying drugs and other illegal activities.They also fear that they would lose their tax revenues.So they think bitcoin as a rival to them.

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Quote from: the rise on April 21, 2017, 11:10:21 PM

Quote from: Pattart on April 21, 2017, 07:50:46 PM

Quote from: iqlimasyadiqa on April 19, 2017, 10:16:52 PM

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet

If I make a conclusion from all countries, which prohibits the use of very little bitcoin, most just do not recognize as legal tender, for me that's not a problem at all, I think the government is not afraid because the nature of bitcoin anonymous or widely used in illicit trade transactions, But because they haven't been able to draft regulation for bitcoin, or the government is not ready to apply this technology for now.

the line that " if you can access the internet then you can handle bitcoin " totally wrong , what Happ if you lives in that country where bitcoin is banned ,.You can make any money even you can earn BTC , but you can't sell and through doller to Fiat will charge more fee .
The second thing that bitcoin is a main part of the payment systems without tax , so here countries government are not able to get tax for such Transaction , due to.this reason of no control over tax in bitcoin , the government of every countries are not supporting bitcoin .

But now most of countries are not looking to ban , they are planning to make some rules of taxtation for the use of the bitcoin .

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Quote from: Pattart on April 21, 2017, 07:50:46 PM

Quote from: iqlimasyadiqa on April 19, 2017, 10:16:52 PM

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet

If I make a conclusion from all countries, which prohibits the use of very little bitcoin, most just do not recognize as legal tender, for me that's not a problem at all, I think the government is not afraid because the nature of bitcoin anonymous or widely used in illicit trade transactions, But because they haven't been able to draft regulation for bitcoin, or the government is not ready to apply this technology for now.

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Quote from: iqlimasyadiqa on April 19, 2017, 10:16:52 PM

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet

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Quote from: giveen on April 21, 2017, 04:53:13 PM

The question you asked is wrong it should have been why bitcoin is accepted in some countries only. The reason why many countries haven't adopted bitcoin is because the time taken for bitcoin to atleast get 1 confirmation takes lot's of time. Second the countries may not like the ideology of decentralised currency. Third maybe the internet connection isn't good in that specific country so this may lead to extra waiting

As to me, there is only one major reason

That is, why most countries aren't going to adopt Bitcoin any time soon as a sort of complementary currency. This reason is pretty simple, they just don't want competition with their local currency. In most countries the circulation of any other currency (which would be called foreign) is rather limited and usually frowned upon if it exceeds certain limits. Some countries even directly prohibit or prohibited in the past the circulation of a foreign currency (say, the US dollar) like Russia did in the early 1990's after the dollar had begun crowding out the Russian ruble when the latter basically stopped being money due to severe hyperinflation back then

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The question you asked is wrong it should have been why bitcoin is accepted in some countries only. The reason why many countries haven't adopted bitcoin is because the time taken for bitcoin to atleast get 1 confirmation takes lot's of time. Second the countries may not like the ideology of decentralised currency. Third maybe the internet connection isn't good in that specific country so this may lead to extra waiting.

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Quote from: FasTroy on April 21, 2017, 04:40:10 PM

Quote from: Haladay on April 21, 2017, 04:25:03 PM

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.

By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

So you better ask the question as "What are the countries allow bitcoin?"

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Quote from: Haladay on April 21, 2017, 04:25:03 PM

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.

By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

Haladay

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Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.

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Quote from: coinchaser007 on April 21, 2017, 05:45:07 AM

The main reason is that the big banks of those countries can't control it, so they buy government support against it.

We can't just think like that everytime, many banks and governemts accepted bitcoin even with the fact that they can't control the digital currency. And why will they buy the governemnt, if you think of it, it is the opposite. We can't think negatively of the people sitting there, if they don't accept bitcoin, someone will ask the and they will just answer the question based on their action.

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Quote from: deisik on April 21, 2017, 04:04:53 PM

It looks like deep inside most countries don't want Bitcoin to survive

Maybe, with only a few exceptions such as Switzerland which seems to be pretty loyal to Bitcoin, but that's not surprising since Swiss gnomes always loved gold and Bitcoin is not very far from it given its limited supply. Right now Bitcoin is no threat to the majority of currencies, so most governments prefer to either ignore it or don't reveal their true attitude toward Bitcoin and declare their neutral stance in public. But when it starts used for real (personally, I expect that it will happen when instant transactions finally come about), they will have to act and we may not quite like their actions

It depends how you see it, Bitcoin is not a threat to the majority of currencies but it can be for the market maybe? Directly or not... Like you said for 'the majority of currencies' so there are exceptions to this. Governments that prefer to not reveal their position about Bitcoin can also be the same reason. Let's imagine one of the top country in Europe suddently publish "Yes to Bitcoin, Go Bitcoin", I can smell the next day a panic movment in the banking industry with the help of Brussels and the medias. So for safety (their own yes) it may be better to not say anything right now.

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Quote from: stripykitteh on April 21, 2017, 02:41:08 PM

Some Countries don't want Bitcoin to survive because the Government of those Countries want their fiat to stay valuable to the citizens that are living there. If Bitcoin gets larger while the people that that are using it decide on not using Fiat anymore then the Government will see that their bank notes aren't circulating fully and will more than likely try to adopt Bitcoin while trying to get most of the supply before any other Government of a Country does

It looks like deep inside most countries don't want Bitcoin to survive

Maybe, with only a few exceptions such as Switzerland which seems to be pretty loyal to Bitcoin, but that's not surprising since Swiss gnomes always loved gold and Bitcoin is not very far from it given its limited supply. Right now Bitcoin is no threat to the majority of currencies, so most governments prefer to either ignore it or don't reveal their true attitude toward Bitcoin and declare their neutral stance in public. But when it starts used for real (personally, I expect that it will happen when instant transactions finally come about), they will have to act and we may not quite like their actions

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Some Countries don't want Bitcoin to survive because the Government of those Countries want their fiat to stay valuable to the citizens that are living there. If Bitcoin gets larger while the people that that are using it decide on not using Fiat anymore then the Government will see that their bank notes aren't circulating fully and will more than likely try to adopt Bitcoin while trying to get most of the supply before any other Government of a Country does.

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Quote from: kurokishi10 on April 21, 2017, 06:27:25 AM

BTC is not supported in majority of the countries because they dont treat it seriously and dont want to take any risk by investing in them.
this thought must be avoided and it must be taken into account that bitcoin is not a joke and an actual currency which can be used worldwide without any problems only if recognised by all Shocked

Majority of Countries don't consider it a big innovation that has the potential to make lot changes in our daily living. Some countries fear of the taxation and some fear of the controllability as this is entirely a pseudo anonymous which can be tracked to some extent.

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Quote from: kurokishi10 on April 21, 2017, 06:27:25 AM

BTC is not supported in majority of the countries because they dont treat it seriously and dont want to take any risk by investing in them.
this thought must be avoided and it must be taken into account that bitcoin is not a joke and an actual currency which can be used worldwide without any problems only if recognised by all Shocked

I think you have confused, bitcoin is completely free in most countries, it is restricted to only certain countries, and those countries are restricted to the internet. In addition, in every other country, specifically my own country, bitcoin is completely free without affecting anything to the government. I am interested in this, even though my country is very backward.

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Quote from: kurokishi10 on April 21, 2017, 06:27:25 AM

BTC is not supported in majority of the countries because they dont treat it seriously and dont want to take any risk by investing in them.
this thought must be avoided and it must be taken into account that bitcoin is not a joke and an actual currency which can be used worldwide without any problems only if recognised by all Shocked

I don't think some countries are not supporting Bitcoin because they don't want to invest in it, no countries even invest in Bitcoin. What I mean about that is one of the main reason that it is not being supported by the government is they are considering it as a threat to their economy whoch is true tax evasion and money laundering to name a few in which Bitcoin can make it easier. Also they don't expect that there will be a lot of users even if they accept Bitcoin in their country.

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BTC is not supported in majority of the countries because they dont treat it seriously and dont want to take any risk by investing in them.
this thought must be avoided and it must be taken into account that bitcoin is not a joke and an actual currency which can be used worldwide without any problems only if recognised by all Shocked

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The main reason is that the big banks of those countries can't control it, so they buy government support against it.

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