Why bitcoin is not supported in some countries? - page 134.

pinkpanther03

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Quote from: mr.bitcoinerf11 on December 20, 2016, 09:40:19 AM

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

That's good for you pal, but sad to know that some of the country are not like yours. maybe other nation don't accept bitcoin because they'e been thinking anyhow that bitcoin can be in money laundering, but it is only there thoughts and thinking. and many people will speculate it, But no basis at all actually.

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Quote from: e-coinomist on February 02, 2017, 09:51:44 AM

Quote from: soul-impact on February 02, 2017, 09:19:34 AM

Quote from: Theb on February 02, 2017, 06:58:30 AM

Well if you search on your own or even look at Bitcoin's Wikipedia page there is a whole section on what countries are against Bitcoin. Some Big countries like Russia, China, and India have officially stated that Bitcoin is banned in their country. I don't know any specific penalties but mostly China is strict on catching people who are using or mining Bitcoin.

I am happy that most of the country with the big population have already accepted Bitcoin. China, India and Russia are all big country and because they support Bitcoin, we can witness a lot of significant increase in the price of Bitcoin. However, according to news which I have read on the internet, there are still many country do not accept Bitcoin like Thailand. Holding bitcoin in thailand is considered as a illegal activity. And some countries even can not access the internet. Therefore, Bitcoin is still not supported widely in the world

In Nigeria there has been a law proposal to convict citizens to two years jailtime just for hodling Dollars for more than 30 days. The reasoning has been related to fighting capital outflows

I'm curious how is that related to capital outflows?

As I understand it, setting a "timeout" for dollar holdings after expiring of which you go to jail could in fact only contribute to capital outflows. I don't think that the Nigerian currency (don't know its name, sorry) would be of any particular interest to anyone outside Nigeria. But the US dollar is a totally different matter, dollars are loved everywhere across the world and the term "capital outflows" should in reality refer to dollars leaving the country. Basically, this pretty much shows how rogue some governments are in trying to exert their power (financial one in this case) over population

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Quote from: BitcoinPC on February 02, 2017, 10:27:59 AM

I am also included in this list of those countries who don't accept bitcoin. But in my country, reason is that my government is not accept it and nor deny it, because our government leaders have no interest in public welfare matters. I wish God give us good government, But my people, they like all crypt currencies and also they are earning from them.

You mean your government is neutral with bitcoin and that is the case with almost all of the countries . The governments do not find any way that what to decide about bitcoin so they are silent in that case and I hope they will find a way to accept it for their state. As bitcoin is going to be established all over the world and then without the adoption of bitcoin the governments will not find any other place to participate in international business.

BitcoinPC

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I am also included in this list of those countries who don't accept bitcoin. But in my country, reason is that my government is not accept it and nor deny it, because our government leaders have no interest in public welfare matters. I wish God give us good government, But my people, they like all crypt currencies and also they are earning from them.

e-coinomist

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Quote from: soul-impact on February 02, 2017, 09:19:34 AM

Quote from: Theb on February 02, 2017, 06:58:30 AM

Well if you search on your own or even look at Bitcoin's Wikipedia page there is a whole section on what countries are against Bitcoin. Some Big countries like Russia, China, and India have officially stated that Bitcoin is banned in their country. I don't know any specific penalties but mostly China is strict on catching people who are using or mining Bitcoin.

I am happy that most of the country with the big population have already accepted Bitcoin. China, India and Russia are all big country and because they support Bitcoin, we can witness a lot of significant increase in the price of Bitcoin. However, according to news which I have read on the internet, there are still many country do not accept Bitcoin like Thailand. Holding bitcoin in thailand is considered as a illegal activity. And some countries even can not access the internet. Therefore, Bitcoin is still not supported widely in the world

In Nigeria there has been a law proposal to convict citizens to two years jailtime just for hodling Dollars for more than 30 days. The reasoning has been related to fighting capital outflows.
You cannot control how long someone has been in possession of some 5 USD bill. The drawback on Bitcoins, it's easy to measure hodling timespans. Or "Bitcoin days destroyed" as a more popular measurement. A 3rd world development country will run into troubles regarding "safe" internet access for simple citizens.
Nevertheless public interest into Bitcoins seems increasing in Nigeria.

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Quote from: Theb on February 02, 2017, 06:58:30 AM

Quote from: savioroshan on February 02, 2017, 06:25:30 AM

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

Really, this news is new for me. Which all countries are against bitcoin? I mean which countries declare jail if bitcoin is used ? I am hearing it for the first time. Actually how government will track if people are using bitcoin. May be the government will warn people but how one can be punished . In my opinion without any evidence its not possible. I just read in the thread , that bitcoin usage is strictly restricted in bangladesh. I am hearing it for the first time. Anyways in my country bitcoin is not banned.

Well if you search on your own or even look at Bitcoin's Wikipedia page there is a whole section on what countries are against Bitcoin. Some Big countries like Russia, China, and India have officially stated that Bitcoin is banned in their country. I don't know any specific penalties but mostly China is strict on catching people who are using or mining Bitcoin.

I am happy that most of the country with the big population have already accepted Bitcoin. China, India and Russia are all big country and because they support Bitcoin, we can witness a lot of significant increase in the price of Bitcoin. However, according to news which I have read on the internet, there are still many country do not accept Bitcoin like Thailand. Holding bitcoin in thailand is considered as a illegal activity. And some countries even can not access the internet. Therefore, Bitcoin is still not supported widely in the world

fikihafana

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The reason is banking regulation and Gov regulation, but in my country we still can use bitcoin as other payment method.

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Quote from: Gromozeka! on February 01, 2017, 11:10:08 PM

Quote from: meemiinii on February 01, 2017, 09:14:42 PM

Quote from: mrayazgul on January 31, 2017, 09:07:45 AM

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

I think the main problem is that there is no enough bitcoin education and people just scare if such thinf+g as Bitcoin which they do not understand. Or itis also possible that some countries just see some danger in bitcoin to their system. I think they could easily create some law to make bitcoin to work ontheir structure, but maybe on practice that is not so easy as in my imagination.

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Quote from: Gromozeka! on February 01, 2017, 11:10:08 PM

Quote from: meemiinii on February 01, 2017, 09:14:42 PM

Quote from: mrayazgul on January 31, 2017, 09:07:45 AM

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

Yeah, for now, indeed bitcoin just takes a few more years to legality in several countries.
If I'm not mistaken, the Japan have created a bitcoin parallel to the YEN. I think, it's good for the economy

Xester

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Quote from: Monnt on February 01, 2017, 11:55:14 PM

In my country it is not acknowledged which is the perfect grey area for bitcoin. Government is not saying bitcoin is illegal, government is not saying its legal. Government doesn’t care about bitcoin right now.

That is amazing for bitcoin. If the government says bitcoin is illegal than there would be some more hassle to use, we could still use but won’t be as easy. If they say its legal than they will put up some reasons and hows and so on that we will have to follow. Government not saying anything about bitcoin is the best thing that can happen for it.

As of this moment, just like your country does, my country does not mind bitcoin since it is not giving a huge impact on the economy. And at the same time there are no huge cases of money laundering and the use of bitcoin for illegal activities. But if big syndicates in our country started to use bitcoin in their transactions then the worst case may be the banning of bitcoin in my country. But I do hope it will not happen and people will use bitcoin responsibly.

Theb

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Quote from: savioroshan on February 02, 2017, 06:25:30 AM

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

Really, this news is new for me. Which all countries are against bitcoin? I mean which countries declare jail if bitcoin is used ? I am hearing it for the first time. Actually how government will track if people are using bitcoin. May be the government will warn people but how one can be punished . In my opinion without any evidence its not possible. I just read in the thread , that bitcoin usage is strictly restricted in bangladesh. I am hearing it for the first time. Anyways in my country bitcoin is not banned.

Well if you search on your own or even look at Bitcoin's Wikipedia page there is a whole section on what countries are against Bitcoin. Some Big countries like Russia, China, and India have officially stated that Bitcoin is banned in their country. I don't know any specific penalties but mostly China is strict on catching people who are using or mining Bitcoin.

savioroshan

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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

Really, this news is new for me. Which all countries are against bitcoin? I mean which countries declare jail if bitcoin is used ? I am hearing it for the first time. Actually how government will track if people are using bitcoin. May be the government will warn people but how one can be punished . In my opinion without any evidence its not possible. I just read in the thread , that bitcoin usage is strictly restricted in bangladesh. I am hearing it for the first time. Anyways in my country bitcoin is not banned.

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Quote from: Oralmat on February 02, 2017, 05:13:23 AM

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

I know that many countries not supported the bitcoin. But i never heard to anyone that some countries declare ban and 6 months jail if they people use bitcoin.
Even i never read in anywhere, i am surprised to know about it, i am sure it is not true. Because in my country, my government not accept bitcoin, but still people use it and pay bills and earn from it, but only online.

I have the same situation where I live. Government neither is saying Bitcoin is leagl nor that it's illegal so people are using it without risking go to jail. And think that's enough. The only thing we want from the government is that they don't ban Bitcoin. We don't need their support, we just want to not be called criminals for using BTC.

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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

I know that many countries not supported the bitcoin. But i never heard to anyone that some countries declare ban and 6 months jail if they people use bitcoin.
Even i never read in anywhere, i am surprised to know about it, i am sure it is not true. Because in my country, my government not accept bitcoin, but still people use it and pay bills and earn from it, but only online.

meemiinii

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Quote from: Gromozeka! on February 01, 2017, 11:10:08 PM

Quote from: meemiinii on February 01, 2017, 09:14:42 PM

Quote from: mrayazgul on January 31, 2017, 09:07:45 AM

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

absolutely right. i dont even wonder if ten years or so from now, the number of countries who adopt and regulates bitcoin will then increase in number. as you said, its just a matter of time. time for them to learn more about bitcoin and cryptocurrency, time for them to develop a certain system to regulate bitcoins that will have a huge and positive impact for their country.

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Quote from: Mr. Big on February 02, 2017, 02:05:08 AM

Quote from: bitllionaire on February 02, 2017, 01:36:24 AM

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be us as online we can say that bitcoin can fulfill their needs.

The government wants the safety of its income and taxes, now, if everyone goes online and do their business here, what will be left for the government to be taxed? How will the economy of a nation will go if the tax being collected is not enough? How will the infrastructures go? We all know that we need only internet in online business, but that is not the only thing we need in a country...

Bitcoin is uncontrolled, therefore government can't just monitor which one is taxable and which one is not... Many can just hide their bitcoin away from them so it is not taxed... That is why it will never be supported by the government by now, not until they found way to control it...

I agree , This might cause the banning of bitcoin in every country , The government will realize that they cant earn money in bitcoin but If they legalize the usage of bitcoin in their country and they put a tax on every transaction it might be better because bitcoin wont be ban on countries, But in return the bitcoin wont be anonymously sent on each transaction that has been monitored.

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Quote from: bitllionaire on February 02, 2017, 01:36:24 AM

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be us as online we can say that bitcoin can fulfill their needs.

The government wants the safety of its income and taxes, now, if everyone goes online and do their business here, what will be left for the government to be taxed? How will the economy of a nation will go if the tax being collected is not enough? How will the infrastructures go? We all know that we need only internet in online business, but that is not the only thing we need in a country...

Bitcoin is uncontrolled, therefore government can't just monitor which one is taxable and which one is not... Many can just hide their bitcoin away from them so it is not taxed... That is why it will never be supported by the government by now, not until they found way to control 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

In my opinion , It was and is the bad option Tp ban the bitcoin in some countries . Through bitcoin many people are making money just for doing honest job without illegal work and also providing a number of jobs in their bitcoin services but still some countries banned bitcoin .
But I think the reason of ban the bitcoin is somewhat right because those countries who made banned the bitcoin are thinking that people are not paying tax for bitcoin and due to these the country's growth may be goes to down but I think they should also think the people are growing their income and making living with bitcoin is also a part of country growth .

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Quote from: diegz on February 02, 2017, 01:24:31 AM

Quote from: t2yax on February 02, 2017, 01:04:35 AM

I think that, in other countries are that are not supported, is that the country banned them?, or they are not recognized by their central bank. Maybe the local governments are not aware with it, so bitcoins are not supported with them.

Even if the government knows the existence of bitcoin, why would it support it? they will not get anything from it. Bitcoin is not meant to be for the government, that is why it is decentralized.

Quote from: t2yax on February 02, 2017, 01:04:35 AM

It could lead to some countries who are not being aware or updated to new technology will be late for their new innovations of other countries.

Countries has their own way to know technology, and much faster. But they have other things to prioritize in their economy than to upgrade their money system.

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be us as online we can say that bitcoin can fulfill their needs.

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Quote from: t2yax on February 02, 2017, 01:04:35 AM

I think that, in other countries are that are not supported, is that the country banned them?, or they are not recognized by their central bank. Maybe the local governments are not aware with it, so bitcoins are not supported with them.

Even if the government knows the existence of bitcoin, why would it support it? they will not get anything from it. Bitcoin is not meant to be for the government, that is why it is decentralized.

Quote from: t2yax on February 02, 2017, 01:04:35 AM

It could lead to some countries who are not being aware or updated to new technology will be late for their new innovations of other countries.

Countries has their own way to know technology, and much faster. But they have other things to prioritize in their economy than to upgrade their money system.

Topic: Why bitcoin is not supported in some countries? - page 134. (Read 98473 times)