Topic: Why bitcoin is not supported in some countries? - page 130. (Read 98473 times)
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.
Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.
They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.
How do you think the government be able to put limit on bitcoin users when bitcoin is all about freedom? Before a certain country prohibits something, it studies all the aspects of that certain thing first. They probably found that if someone gets exposed on using bitcoins a lot, he will depend less and less on fiat. That's something you don't want if you're from the government because what you'd want is to collect as much tax as possible. Bitcoin users don't pay tax at all when buying things online.
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.
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
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
Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.
They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.
Because it is considered as something "scary",or even something that the politicians are afraid of because it may disrupt the system we are involved in right now.The truth is that either people aren't willing to indulge in a so called experiment with something new or they see the potential and they want everything to remain the same
I do not see it like that. They are not scare about the use of bitcoin. They might not be thinking about bitcoin and probably they heard about it but they don't care. Most probably, at first, they do not see bitcoin as a currency.
I think it's just fine, as long as no one is planning to ban it then who cares if countries don't support bitcoin.
Because it is considered as something "scary",or even something that the politicians are afraid of because it may disrupt the system we are involved in right now.The truth is that either people aren't willing to indulge in a so called experiment with something new or they see the potential and they want everything to remain the same
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Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.
They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.
may be they think that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. so they might have banned bitcoin. or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.
Exactly they may think that if they allow bitcoin in their country's market then bitcoin might replace their national currency and due to this their economy disturbs. And there is one reason more which is bitcoin is decentralized, no central power who controls bitcoin, it might be the reason of banning bitcoin in their country.
may be they think that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. so they might have banned bitcoin. or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.
Exactly they may think that if they allow bitcoin in their country's market then bitcoin might replace their national currency and due to this their economy disturbs. And there is one reason more which is bitcoin is decentralized, no central power who controls bitcoin, it might be the reason of banning bitcoin in their country.
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
indeed in some countries prohibit the presence and use bitcoin I think government regulation in this country is not wise to prohibit the existence of bitcoin, because bitcoin never damage the economy of a country, but rather the existence of bitcoin could help the country's economy, many business opportunities created by the existence of bitcoin
This assumption doesn't make much sense
It would make sense if governments were highly valuing Bitcoin, at least, as high as they value the US dollar up to the point where they lay themselves out to disallow dollar outflows. But if they don't care about Bitcoin, why should they care about it moving abroad in the first place? After all, it is bitcoins that are moving, not dollars (i.e. not "real money"). In this way, governments may in fact be quite happy that bitcoins are running away since less bitcoins means less problems for these governments internally (i.e. less competition with local currencies)
Maybe the government thinks that if people buy bitcoin with the local fiat, there is more fiat on the market.It would make sense if governments were highly valuing Bitcoin, at least, as high as they value the US dollar up to the point where they lay themselves out to disallow dollar outflows. But if they don't care about Bitcoin, why should they care about it moving abroad in the first place? After all, it is bitcoins that are moving, not dollars (i.e. not "real money"). In this way, governments may in fact be quite happy that bitcoins are running away since less bitcoins means less problems for these governments internally (i.e. less competition with local currencies)
And that would lead to a bigger inflation rate.
But honestly I think it's more the fact that a transaction from one wallet to another wallet can not be taxed.
And if taxes are not payed, that is something a government does not like.
So the main reason why some goverments do not like it at all is because it's beyond their controle.
Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.
That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoinI do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
This assumption doesn't make much sense
It would make sense if governments were highly valuing Bitcoin, at least, as high as they value the US dollar up to the point where they lay themselves out to disallow dollar outflows. But if they don't care about Bitcoin, why should they care about it moving abroad in the first place? After all, it is bitcoins that are moving, not dollars (i.e. not "real money"). In this way, governments may in fact be quite happy that bitcoins are running away since less bitcoins means less problems for these governments internally (i.e. less competition with local currencies)
Maybe the government thinks that if people buy bitcoin with the local fiat, there is more fiat on the market.
And that would lead to a bigger inflation rate.
But honestly I think it's more the fact that a transaction from one wallet to another wallet can not be taxed.
And if taxes are not payed, that is something a government does not like.
So the main reason why some goverments do not like it at all is because it's beyond their controle.
That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoinI do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
This assumption doesn't make much sense
It would make sense if governments were highly valuing Bitcoin, at least, as high as they value the US dollar up to the point where they lay themselves out to disallow dollar outflows. But if they don't care about Bitcoin, why should they care about it moving abroad in the first place? After all, it is bitcoins that are moving, not dollars (i.e. not "real money"). In this way, governments may in fact be quite happy that bitcoins are running away since less bitcoins means less problems for these governments internally (i.e. less competition with local currencies)
may be they think that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. so they might have banned bitcoin. or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.
That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin.I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
That is very possible since bitcoin transaction is not taxable. Meaning no income coming into government coffers if bitcoin is used. Also, it will disrupts the government tax collection if let bitcoin to be used. But still, even if it is banned there are still ways to used bitcoin.
That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin. I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.
With regard to governments, the reason is that this goes against the current model of power in society. Despite this, I do not see many countries prohibiting the use of the currency, they prefer to ignore and not give publicity. Regarding people in general, I think it's still early days. Although many people have access to the internet and many sources of information, they still have not realized the need for a currency to solve the problems that exist in fiat currency
That's a rational choice after all
If some government decides to officially interfere with Bitcoin (e.g. to outright prohibit), such actions would only make people interested in it, thereby adding to Bitcoin popularity. In many countries, the majority of population are overall hostile to their governments (since ordinary people didn't see anything good from them in the past), and thus negative attitude toward Bitcoin on behalf of authorities will mechanically make Bitcoin positive in the eyes of populace. On the other hand, if Bitcoin dies on its own eventually, governments that chose to ignore it will be proved right
I too haven't heard of the information that Taiwan has banned bitcoin. In the past Russia is the only country that made a ban on digital currency. Soon the government understood the technology and had initiated plans to implement blockchain in the future financial service providing management
Stop spreading misinformation. Bitcoin had never been banned in Russia in the past
It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.
there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.
It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.
there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.
There are more than 1 country dislike Bitcoin. You should know about this information because if you use bItcoin in some of those countries, you may be arrested by the cops
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