Why bitcoin is not supported in some countries? - page 137.

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Quote from: 1Referee on January 30, 2017, 06:14:34 AM

Quote from: nelson4lov on January 30, 2017, 05:54:29 AM

Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of bitcoin.

I wasn't aware of Nigeria having actually banned Bitcoin usage? As far as I have been hearing and reading, they published notes that are solely meant as warning to make people aware of the high risk that crypto currencies and connected projects carry with them. The warning came after MMM has stated that it would accept payments in form of Bitcoin. It's just an informative measure that is solely meant as making people aware of ponzis operating in Nigeria, where OneCoin is also one of. I can't find anything pointing towards the Nigerian government having banned the use of Bitcoin.

Yeah, They made a move doesn't necessarily mean They have stopped it already. From my point of view, If Ponzi schemes continues to utilize Bitcoin for their fraud operations, FG will do more than just warning next time.

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Quote from: nelson4lov on January 30, 2017, 05:54:29 AM

Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of bitcoin.

I wasn't aware of Nigeria having actually banned Bitcoin usage? As far as I have been hearing and reading, they published notes that are solely meant as warning to make people aware of the high risk that crypto currencies and connected projects carry with them. The warning came after MMM has stated that it would accept payments in form of Bitcoin. It's just an informative measure that is solely meant as making people aware of ponzis operating in Nigeria, where OneCoin is also one of. I can't find anything pointing towards the Nigerian government having banned the use of Bitcoin.

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Quote from: Gembul on January 30, 2017, 01:44:42 AM

Quote from: morgand on January 30, 2017, 01:30:24 AM

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

I agree with you too. Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of bitcoin.

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Quote from: iqlimasyadiqa on January 29, 2017, 09:35:40 AM

some countries have regulations and policies respectively. while bitcoin is still seen to make the economic situation of a country into chaos. This is the reason a country still banning bitcoin today.

I do not think that they have banned bitcoin considering it as creating economics chaos in their country but they have banned it because they think that it is an anonymous currency and with bitcoin transaction they do not have any control on bitcoin so they do not want to have that currency in their country on which the government do not have control on it but want only their centralized currency.

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Quote from: Gembul on January 30, 2017, 01:44:42 AM

Quote from: morgand on January 30, 2017, 01:30:24 AM

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

Many countries still do not understand what they are doing and are at the stage of study, while others already on the legislative level, given the status of bitcoin and trying to come up with a system of taxation on income from activities related to bitcoin, now it is at an advanced stage because it is growing in popularity and more and more people it is used, state government can not stand by while past them funneling potential revenues to the budget.

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Quote from: morgand on January 30, 2017, 01:30:24 AM

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

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Quote from: Farma on January 29, 2017, 11:24:00 AM

Quote from: izanagi narukami on January 29, 2017, 10:56:38 AM

At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

Well, I think it is a natural thing for the government, if we say that bitcoin is always used to be illegal, and are used for money laundering. mostly, a country that is not too familiar with bitcoin, say something like that. but, basically, they just do not know the potential of the bitcoin. because I am sure, when bitcoin became popular, they will re-create bitcoin be legal.

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

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Quote from: izanagi narukami on January 29, 2017, 10:56:38 AM

At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

This is a task for us gave knowledge to our Government, so as not to misunderstand.
Because this Bitcoin is not a aims to terrorism activity or money laundering,
but rather as a digital currency in the ease of Online buying and selling, investments such as gold and other businesses.

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Quote from: Idrisu on January 29, 2017, 11:47:42 AM

many countries are Concern about bitcoin being used by the terrorists. The elites cannot control it like the rothchild said " give me the control and printing of countries money and I will not care who rule the country" the decentralize nature of bitcoin put the elites out of banking business and because of this they will not support it nor recommend it to the leaders of their countries who may be ignorant of how financial systems works

This argument about bitcoin being a main financing method of terrorists organisation is so thin and totally unproven that it I am starting to get sick when I heard it.
Tell me how exactly government's agencies measured bitcoin impact on terrorism? Do we have some real and solid research? Until proven wrong I would believe that bitcoin=terrorists is a false flag operation.

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Quote from: ekoice on January 30, 2017, 12:53:33 AM

Actually, all countries see bitcoin as a challenge to their economy.They fear that illegal transactions would take place via bitcoins.They feel they would not be able to impose tax on bitcoin users.In Bangladesh, even imprisonment is given if people found using bitcoin.In contrast to this, a micro nation called Liberland has announced bitcoin as their national currency.Bitcoin cannot be banned completely.Banning bitcoin means banning internet and its highly impossible.

Fear in bitcoin to challenge the economy is not true. Why would it, actually the use of it in a country could help, even if it's not big, I am sure it can. But what I think too that makes bitcoin looks shady is the use of it by some in their illegal activities, which is I think unavoidable since bitcoin is not being regulated. Maybe we should be happy by now that it is not supported, atleast countries are not yet into banning bitcoin.

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I think the reasons are very clear.

1. Government earn 0 tax from bitcoin.
2. Money laundering.
3. Scam.

Mostly because, People use bitcoin to hide their black money or move their money from one country to another country easily via bitcoin.

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Actually, all countries see bitcoin as a challenge to their economy.They fear that illegal transactions would take place via bitcoins.They feel they would not be able to impose tax on bitcoin users.In Bangladesh, even imprisonment is given if people found using bitcoin.In contrast to this, a micro nation called Liberland has announced bitcoin as their national currency.Bitcoin cannot be banned completely.Banning bitcoin means banning internet and its highly impossible.

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Quote from: bajing on December 20, 2016, 09:29:37 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

Actually each country have their own policy maybe the government are concerned will many wiping the money or commonly known as money laundering. fair or not that's what we have to face because until now the existence of bitcoin is still not recognized.

many countries are Concern about bitcoin being used by the terrorists. The elites cannot control it like the rothchild said " give me the control and printing of countries money and I will not care who rule the country" the decentralize nature of bitcoin put the elites out of banking business and because of this they will not support it nor recommend it to the leaders of their countries who may be ignorant of how financial systems works

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Quote from: acroman08 on January 29, 2017, 10:53:03 AM

Quote from: deisik on January 29, 2017, 09:26:55 AM

Quote from: acroman08 on January 29, 2017, 09:17:34 AM

Quote from: HateEU on January 28, 2017, 02:14:57 PM

Bitcoin is good and some govrements means that bitcoin is not good for their economy.That countries are ussualy poor countries with weird politician leaders so they refuse bitcoin but there are 2 normal country Sweden an Norway and they are making own cryptocurrency.

That is quite a bold statement don't you think? The government usually Ban bitcoin because it is not issued by them
and the most common reason are it can be used for illegal activities, bitcoin don't have any rules about how to
use it that is why the government is banning bitcoin to prevent illegal activities involving bitcoin.

This is what they tell us and want us to believe

While you are free to believe whatever you like, simple logic, nevertheless, says that these reasons are no more than contrived ones. Really, if Bitcoin is used for illegal activities and governments ban it on this pretext, why don't they ban cash as well, which is by far more widely and safely used for such activities. This reason is laughable. Further, governments don't issue foreign currencies (at least, openly), but they still don't ban them somehow (that would be just outright ridiculous). It should be evident that this reason doesn't stand either

I know!, but it is the most common reason used by the government, but if I were to say my own opinion
why government(including banks) bans bitcoin!?. it's because they are afraid of it, they have no control over it and are worried
about the possible damages it can cause to their economy etc.., plus banks usually involve if bitcoin is being banned.

Please tell me other reasons or your opinion why bitcoin is being banned by the government because if what you say is true then articles about this kind of topic are not trustworthy or the reasons are simply contrived as you say.

I have already explained it a few times

Even if Bitcoin was not in fact conceived by some secret service or agency, it can still be used as a financial weapon by powerful governments (like the US) against unstable governments (like that of Venezuela). It is like spreading a lethal virus which only you have a vaccine against or are immune to. Bitcoin is not dangerous to stronger currencies like the US dollar but it can be deadly to weaker ones. It is like foreign currencies substituting the collapsing local one, but it is more dangerous since the failing government can still control the spread of a foreign currency inside the country through banks (by limiting or prohibiting non-cash transactions with it). This doesn't work with Bitcoin since it is not just a currency but also a payment system in its own right and which defies government control

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Quote from: izanagi narukami on January 29, 2017, 10:56:38 AM

At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

Well, I think it is a natural thing for the government, if we say that bitcoin is always used to be illegal, and are used for money laundering. mostly, a country that is not too familiar with bitcoin, say something like that. but, basically, they just do not know the potential of the bitcoin. because I am sure, when bitcoin became popular, they will re-create bitcoin be legal.

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The answer is obvious, the government doesn't want to have a thing in their country that they themselves can't even control it. Because of the decentralization of Bitcoin that's why some governments do not agree for that currency to be used in their country, it's just too risky for them.
However, there are still some governments that know about the important of this currency. Because even tho if they do not support Bitcoin now people would still use it in some way, cuz nothing can stop people to keep using it..

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At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

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Quote from: legendbtc on January 29, 2017, 09:44:29 AM

Many governments are testing block chain technologies and they are happy with this new technology but there are some factors many government are not considering because in some countries people are using bitcoin for illegal activities , but another advantage of bitcoin is we cannot able to generate fake coin like fiat currency and also bitcoin supply is very limited.

The truth be told, it is not the illegal activities that is the headache the governments see with Bitcoin, because those have always been there even before Bitcoin came on board. Not not government, not two, all of them share the same fear that Bitcoin is sure to relegate their local currencies to the background and by them the source of their power over the people would be almost gone.

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Quote from: deisik on January 29, 2017, 09:26:55 AM

Quote from: acroman08 on January 29, 2017, 09:17:34 AM

Quote from: HateEU on January 28, 2017, 02:14:57 PM

Bitcoin is good and some govrements means that bitcoin is not good for their economy.That countries are ussualy poor countries with weird politician leaders so they refuse bitcoin but there are 2 normal country Sweden an Norway and they are making own cryptocurrency.

That is quite a bold statement don't you think? The government usually Ban bitcoin because it is not issued by them
and the most common reason are it can be used for illegal activities, bitcoin don't have any rules about how to
use it that is why the government is banning bitcoin to prevent illegal activities involving bitcoin.

This is what they tell us and want us to believe

While you are free to believe whatever you like, simple logic, nevertheless, says that these reasons are no more than contrived ones. Really, if Bitcoin is used for illegal activities and governments ban it on this pretext, why don't they ban cash as well, which is by far more widely and safely used for such activities. This reason is laughable. Further, governments don't issue foreign currencies (at least, openly), but they still don't ban them somehow (that would be just outright ridiculous). It should be evident that this reason doesn't stand either

I know!, but it is the most common reason used by the government, but if I were to say my own opinion
why government(including banks) bans bitcoin!?. it's because they are afraid of it, they have no control over it and are worried
about the possible damages it can cause to their economy etc.., plus banks usually involve if bitcoin is being banned.

Please tell me other reasons or your opinion why bitcoin is being banned by the government because if what you say is true then articles about this kind of topic are not trustworthy or the reasons are simply contrived as you say.

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The misconception about bitcoin and cryptocurrencies generally speaking is one of the reason. The fear of an unknow system

Topic: Why bitcoin is not supported in some countries? - page 137. (Read 98473 times)