Topic: Why bitcoin is not supported in some countries? - page 139. (Read 98473 times)
Almost all countries live off the taxes on the population and on production. If everyone will have free access to bitcoin, then the state will lose revenue as bitcoin gives the owner anonymity. This is probably the first reason for the ban.
My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.
There are almost all countries of the world which do not start or accept bitcoin as their official money currency but it is used worldwide by the citizens which are not banned in most countries but only a few who do fear from its use by the criminals of their state. Each country has its own laws but I hope there will be a positive change in the near future.
My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.
The Government seems still not believing in the bitcoin as currency Each country has its own laws but I hope there will be a positive change in the near future.
especially to make it as the official currency. They still consider this
as an illegal business. For that reason I think bitcoin is not supported in some countries.
My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.
Each country has its own laws but I hope there will be a positive change in the near future.
I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.
Bitcoin are supported in all countries. Only few countries try to Ban it officially but as you said, they cant ban it completely due to the presence of localbitcoins and then online buying / spending available for everyone.
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 don't think there is any country with such restriction!! Such laws like jail!!
But still most of the countries are not ok with the concept of Bitcoin, this is not a case with only governments but also with banks and general public. The main reason- Companies may invest in Bitcoin and may not show it in their Balance Sheet. I doubt there is any way they will be catch. So investing in Bitcoin is inversely related to NNP(fc) of a country. Moreover someone who bought Bitcoin in country may realize it to one belonging to other country which is movement of capital outside without any profits.
Countries have different ways in which they are being governed and they also have ways in which they make their laws at the same time how developed and ready to new way of life. It is no longer a fallacy that bitcoin is bringing new things to the way we see money and to some countries this is coming as a challenge to them whether to accept this new way of doing things or not. So, I guess until each and every country is now able to answer whether this technology will be at an advantage or not, then they will decide but it will definitely take time.
Bitcoin is a decentralised currency and it is not controlled by anyone.People use bitcoins for transactions even from one country to other and due to this, banks face a huge loss in revenue which they got from transaction fees.The governments also fear that huge money would be transacted through bitcoins for illegal purposes.PBOC recently took actions to stop flow of their country money to foreign which resulted in major fall of bitcoin price.Governments fear there will be no accountability of money if bitcoin is allowed.So, some countries dont support bitcoins.But still, they are not able to control bitcoins.
Because they can't tax bitcoins that is why.
I think most of them are afraid especially their respective central banks are afraid it will collapse their local fiat currency and render their economy in tatters.
No, that's impossible that bitcoin would take down the economy of each country, in fact it could bring more money income to its citizens. There are also growing concerns of the illegal use of bitcoins like paying for drugs through money laundering,
This is the reality. Probably the government will be looking at bitcoin as a tool for the criminals to make it easy for them to move. pornography, and all other devices that goes contrary to the laws of the respective countries.
I don't see pornography as a problem except if what the porn site is showing are those children being molested or shows like that.
I think most of them are afraid especially their respective central banks are afraid it will collapse their local fiat currency and render their economy in tatters. There are also growing concerns of the illegal use of bitcoins like paying for drugs through money laundering, pornography, and all other devices that goes contrary to the laws of the respective countries.
Bitcoin is a currency, right ? Money laundering, terrorism, drug smuggling, weapon dealing etc are only confined in bitcoin ? No. Every currency is being used in legal and illegal activities. Any currency fiat or crypto, centralized or decentralized, go through almost same scenario. But it is not true that only a group of members control bitcoin. Bitcoin has no central authority. But the price can be controlled by whales. Do you guys think that the price of other fiats can not be manipulated ? You are wrong then. Bitcoin is far more secure
Bitcoin is operated by the members, not organizations or governments!
The governments of these countries are simply afraid of Bitcoin and not without reason. They may cook up whatever excuses like Bitcoin being used for criminal activities such as money laundering and terrorism financing (as if cash weren't used for that as well, and likely with even better results), but the harsh truth is that Bitcoin competes with their local currencies and may eventually outcompete them. It is like the US dollar which everybody loves but which the governments can still more or less control through foreign currency exchange operations carried out by banks (apart from cash transactions, but these are small overall).
I think that countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff.
I think that countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff.
Its just because it might not be popular in other countries .
It has still not become an official currency in many countries .
I am pretty sure that soon it might be accepted in other countries .
As it can be trusted , and there are millions of people who depend on bitcoin.
Also big big companies / firms have accepted bitcoins and soon will be the no. one
and the only one confirmed / legal crypto currency in the whole world.
So stay tuned and invest in bitcoins
Thanks
It has still not become an official currency in many countries .
I am pretty sure that soon it might be accepted in other countries .
As it can be trusted , and there are millions of people who depend on bitcoin.
Also big big companies / firms have accepted bitcoins and soon will be the no. one
and the only one confirmed / legal crypto currency in the whole world.
So stay tuned and invest in bitcoins
Thanks
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? Is there a country that will put you into jail for 6 months if you will use bitcoin? May I know on what country? For me, I think one of the reasons why some countries does not accept or recognize bitcoin is because the government has no control over it. They cannot earn from the bitcoin users because they cannot taxed them.
I think that would be very profitable to every government to accept bitcoin on the same level as fiat. Just imagine how many money would go in the pockets of government workers in this case! Every operation with bitcoin would be with fees.
I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.
of course not all countries prohibit bitcoin, but it is not necessarily they legalize bitcoin. bitcoin actually prohibited even though it does not change anything on the user bitcoin, because the state could not restrain the user not to use bitcoin? I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.
there are some countries where bitcoin is fully banned like russia in the past but the people of that countries still use bitcoin and they earn then online and continue their trade while they suffer a problem while using them in some of their uses.
Freaking tyrants is what they are, dictating to people how to live, a dictatorship is what it is, if you live in a country where for mining bitcoin you could go to jail? either deal with it yourself or your government's leaders. they don't understand what bitcoin means so they try to oppose it.
Miners are basically robots working nonstop and you need to keep them cool and feed them electricity and they will print digital money for you out of thin air.
Miners are basically robots working nonstop and you need to keep them cool and feed them electricity and they will print digital money for you out of thin air.
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