Why bitcoin is not supported in some countries? - page 129.

Pettuh4

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Quote from: cokkapaga on March 04, 2017, 08:34:13 AM

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

Yes Japan had given it the green light and the others will follow suite, it's a matter of evolution by the respective governments amongst which some are yet to consider making a decision so it's definitely bound to happen but it isn't yet and we look forward to it being globally accepted after solving the minor problems that it seems to have engulfed Bitcoin transactions.

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yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

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Quote from: Ocytrem on March 03, 2017, 05:27:39 AM

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

for bitcoin is decentralized and can not be controlled by the government, then bitcoin will never be profitable for the government and during that bitcoin will never legalized by any country

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Quote from: tetrisbattle on March 04, 2017, 07:23:05 AM

economy problem causes because of few of the country does not accept btc and may some of the illegal activity will cause
so their government block btc in their country

All governments want to track the all transactions whether it is legal or illegal money. As long as they can't track those transactions then surely most of them don't allow it. As of now, bitcoins are more popular in the gambling industry and porn because people wants to hide their identity. Because of these non-traceable issues, governments are not accepting it.

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Many country not support bitcoin because several reason related with illegal activity(terorism,drugs,money loundry,etc), and security issue

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economy problem causes because of few of the country does not accept btc and may some of the illegal activity will cause
so their government block btc in their country

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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

Yes i read it too maybe they don't like bitcoin in their country thats why they don't like to support bitcoin. Bitcoin is very nice one you can earn an extra income and its a big help too to my parents. So maybe those countries not support bitcoin they regret later.

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Bitcoin is not supported in some countries because:

*They think bitcoin is illegal
*Abused by criminals
*Can't help their economy
*Can reduce their profits in banks
*They can't control it

Wowcoin

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Maybe all countries are have some used it but they don't want to spread it because some government ban bitcoin in their country thats why some countries not support it. They don't like cryptocurrency in their country thats why didn't support it.

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Quote from: Gembul on March 04, 2017, 01:56:49 AM

Quote from: OrangeII on March 04, 2017, 01:49:30 AM

Quote from: malekbaba on March 03, 2017, 12:05:19 PM

Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety measure or precaution

you are right. basically very many countries that do not understand about bitcoin. they just think about the evils that would occur if the receiving bitcoin. but, they do not see the possibility of that happening that bitcoin could save the financial condition of a country.

I think a country will know all things related to bitcoin. Both the gain or loss of legalizing bitcoin in their country. I think that a country does not accept bitcoin because they think the risk of a bitcoin is greater than the benefits. Thus, they decided not to accept bitcoin, especially for countries that have not developed. Bitcoin could cause corruption or other clutter. Thank you

And if you think of it this way, most of the countries who banned Bitcoin in their country are developed countries China and Russia to name a few. Both of which are powerful countries and I guess they know what Bitcoin can do if supported by the government. Many things such as money laundering and also Holding of the cryptocurrency all of which will create an imbalance to their economy, it is better safe then sorry.

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Quote from: OrangeII on March 04, 2017, 01:49:30 AM

Quote from: malekbaba on March 03, 2017, 12:05:19 PM

Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety measure or precaution

you are right. basically very many countries that do not understand about bitcoin. they just think about the evils that would occur if the receiving bitcoin. but, they do not see the possibility of that happening that bitcoin could save the financial condition of a country.

I think a country will know all things related to bitcoin. Both the gain or loss of legalizing bitcoin in their country. I think that a country does not accept bitcoin because they think the risk of a bitcoin is greater than the benefits. Thus, they decided not to accept bitcoin, especially for countries that have not developed. Bitcoin could cause corruption or other clutter. Thank you

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Quote from: OrangeII on March 04, 2017, 01:49:30 AM

Quote from: malekbaba on March 03, 2017, 12:05:19 PM

Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety measure or precaution

you are right. basically very many countries that do not understand about bitcoin. they just think about the evils that would occur if the receiving bitcoin. but, they do not see the possibility of that happening that bitcoin could save the financial condition of a country.

Several bitcoin enthusiasts have put forth statement that the country to adopt bitcoin is to experience a big economic growth through the fintech. These days most countries have got a fintech hub based on the growth in economy. Only few countries have banned bitcoin but now they too have been planning to take off the ban experiencing it's potential.

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Quote from: malekbaba on March 03, 2017, 12:05:19 PM

Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety measure or precaution

you are right. basically very many countries that do not understand about bitcoin. they just think about the evils that would occur if the receiving bitcoin. but, they do not see the possibility of that happening that bitcoin could save the financial condition of a country.

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Quote from: BitcoinGirl.Club on March 03, 2017, 12:46:46 PM

Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.

This is what weakest governments are afraid of

Though you certainly misinterpret it in a perverse way. If Bitcoin is allowed (or just gets wide traction without government interference or approval), it would in reality cause the demand for fiat to contract. But since the amount of money already circulating in the economy cannot be diminished quickly, that will cause inflation because there would be too many notes in circulation. Bitcoin will grab some part of the economy that fiat money mediates and that will leave the same amount of fiat servicing the remaining smaller part of the economy

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Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.

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Quote from: Ocytrem on March 03, 2017, 05:27:39 AM

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

currently i personally do not know about any country who are banning bitcoin, i think bitcoin is still using in all the countries of the world and still no government is taking any action against bitcoin they are just silent and therefore we are expecting that governments will take good again about bitcoin, hope that their decision will be in favour of bitcoin.

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Quote from: Xenophoto on March 03, 2017, 11:33:53 AM

The smarter play will always be to ban bitcoins at a really early stage so people will not explore it because if they do, they'd realize that they've been a fiat slave for so long. When fiat's been prohibited in your country for a long time, you'd probably never hear it from the word of mouth. You can read it online but most of us don't stay online for hours and spend time looking for interesting articles

I tend to disagree with that

As to me, banning Bitcoin at an early stage, when it is yet virtually unknown to wide masses of population, would be counterproductive, especially if you can't force this ban in real life (remember, you should never forbid what you lack the power to prevent). If you are going to ban Bitcoin, you will have to publicize this ban which would only attract the attention of ordinary people (something which you most likely don't want). But since you essentially can't prevent folks from using Bitcoin, you will certainly end up where you don't expect to be. Most governments already know that, so they mostly choose the policy of ignoring Bitcoin altogether (as if it didn't exist at all)

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Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety measure or precaution

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Quote from: onrise on March 03, 2017, 11:45:59 AM

Countries which does not support or support less cyptocurrency is due to that uncontrollable and untraceable feature of bitcoin. Government wants under their purview and should come under their regulatory body and must be traceable.

Countries can only regularize Bitcoin but they cannot ban it. There is only one thing which is necessary to use Bitcoin and that is internet. So the only country where people are not able to use Bitcoin is North Korea.
Governments always try to hold and manipulate the currency according their profit but as Bitcoin is decentralized, no one can do that. It's the major advantage with Bitcoin.

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Quote from: Ocytrem on March 03, 2017, 05:27:39 AM

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

They already knows the benefits that bitcoin can bring. It's just that they care more for those loopholes associated if they will accept this currency. One hole is the possible money fraud activity which needs a deep investigation before it can traced the money loss. Another one is the decentralized thing in bitcoin since centralizing bitcoin exchanges is not enough to make room for regulations for those user who will use bitcoin. Plus there are many more.

Making regulations in bitcoin is not that easy and never be will applicable by all of the countries due to the fact that every state have different views about the positive and negative things that a cryptocurrency will give.

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