Why bitcoin is not supported in some countries? - page 141.

millgates

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Quote from: canhchuacaro1 on January 23, 2017, 10:31:41 PM

I have long noticed that many countries are not allowed to conduct any business at all with cryptocurrency. But at the same time, in other countries where there is still bitcoin, bitcoin legal status differs.
Some countries don't give too much attention to bitcoin because although there is a lot of trade taking place, bitcoin is still small in those communities but as bitcoin keeps growing you can be sure there is going to be a growing awareness of bitcoin and what it can do.

Day by day, bitcoin is become more popular, then all countries will decide to consider bitcoin as legal or illegal currency. The countries that only think about tax income will ban bitcoin. I know that it is not only about of tax but if there are some countries that want to advance their economy, I think they will support bitcoin.

Windpower

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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 haven't heard of countries giving jail time for people caught using Bitcoin. But maybe that is true and I am just wrong. Some governments just dislike people using Bitcoin. Fiat is pretty much owned by a countries' government, and when something makes less people use it, they want to stop people from using it. That is pretty much what happens with Bitcoin. Although, most countries are fine with people using Bitcoin, so there must be some kind of problem with people using Bitcoin for other governments to ban it.

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Quote from: morgand on January 20, 2017, 12:00:42 AM

Quote from: Gembul on January 19, 2017, 08:25:03 PM

Quote from: squatz1 on January 19, 2017, 07:28:37 PM

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

Just my opinion.
Then how goverment take taxes from every bitcoin account in their own country?
I think they will not gonna be alternative currency, bitcoin will stay annonymous.

They cant really impose taxes on bitcoin directly thats why government doesnt like to adopt bitcoin on their place. Decentralized features of bitcoin is the main reason why it cant be accept on some countries i think but there are countries do adopt it because of the benefits that it gives to its users.

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Quote from: Gembul on January 19, 2017, 08:25:03 PM

Quote from: squatz1 on January 19, 2017, 07:28:37 PM

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

Just my opinion.
Then how goverment take taxes from every bitcoin account in their own country?
I think they will not gonna be alternative currency, bitcoin will stay annonymous.

Gembul

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Quote from: squatz1 on January 19, 2017, 07:28:37 PM

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

The_Dark_Knight

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Quote from: MMA on January 19, 2017, 05:28:46 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

yes it can also be right that the backward countries may have lack of internet facilities and their people are not too much education therefore they can hardly use bitcoin. but to me i think every country has their own rules and regulation and they have to follow these rules and regulation. so may be they have banned the people to use bitcoin.

It depends on the country there are countries with easy access to technology while some others have most of the population in terrible poverty and only earn enough to eat while these people could benefit by the use of bitcoin they are not going to get access to it.

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Quote from: boyptc on January 19, 2017, 07:47:03 PM

Quote from: squatz1 on January 19, 2017, 07:28:37 PM

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

They are treating bitcoin as a threat to their own country so they don't want to support sometime that might ruin their economy. That's what most of the countries/government are thinking with bitcoin. If they just know that bitcoin is going to be the one that can boost their economy as its price is getting higher and higher. But the fear of people will tax evade is one reason why they are not supporting bitcoin.

No, bitcoin is not a threat to the economy, so that's not a reason why countries would ban bitcoin. Most probably they just don't care about the bitcoin's existence as it is not that mainstream yet. If it's citizens are paying taxes in their earnings before investing it to bitcoin, I don't see any problem on that. But if they are investing in bitcoin and they didn't pay taxes which belongs to the government, then that's a problem, government should sue them.

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Quote from: squatz1 on January 19, 2017, 07:28:37 PM

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

They are treating bitcoin as a threat to their own country so they don't want to support sometime that might ruin their economy. That's what most of the countries/government are thinking with bitcoin. If they just know that bitcoin is going to be the one that can boost their economy as its price is getting higher and higher. But the fear of people will tax evade is one reason why they are not supporting bitcoin.

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Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

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Quote from: royalfestus on January 18, 2017, 11:23:56 PM

Quote from: Botnake on January 18, 2017, 10:29:57 PM

Quote from: morgand on January 18, 2017, 09:56:54 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The reality shall be serve, when big countries accept bitcoin, small countries follow. It take time dude, also live in a small country and I notice there are no merchant or stores that accept bitcoin, I am sure they are aware but they are still waiting for the right timing since it's hard to compromise their business when bitcoin was not fully back by the government.

Why this? https://www.cryptocoinsnews.com/nigeria-warns-banks-bitcoin-ripple-monero-litecoin-dogecoin-onecoin/

The fuckin onecoin is the scam but it's not for bitcoin and the other like ripple, monero, litecoin and dogecoin. The crypto is warning the bank of Nigerian. The nigerian bank is feeling panic.

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Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

Can you provide source material with the statement that authorities of some 3rd world country denied bitcoin because they "can't afford their populace to adopt it".
Because this declaration seems totally detached from reality and wrong on so many levels. To accept or adopt bitcoin one don't need anything but working internet network.
I would rather have bitcoin payment implemented than having foreign Bank branch opened in my country.

royalfestus

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Quote from: LegendaryMiner on January 19, 2017, 05:36:07 PM

Quote from: markyminer on January 18, 2017, 06:53:17 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

i think it is not the main reason, but the main reason can be that in third world countries the education ratio is very low there, and they have also very limited resource of compute internet, their people cannot affort compute and internet that is why they do not have access to bitcoin to use it, i think it will still take some more time when they will have access to bitcoin.

The level of education in these countries may, in fact, be a factor that also prevents many users from knowing this technology and using cryptocurrencies. If these people had more knowledge about it, I think there would be much more adoption, even with the restrictions imposed by governments in those countries.

Hopefully, with the increasing number of people using the Internet around the globe, this may change, because easy access to information will make more and more people aware of it.

Have you been to this part of the country that I posted the link. A part of the country has over 50% educated indigenes with regular access to in internet via their phone 24/7. The new internet service is at 4g network bandwidth. Different internet service providers that compete for better service. The problem is the acceptability not the environment

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Quote from: markyminer on January 18, 2017, 06:53:17 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

i think it is not the main reason, but the main reason can be that in third world countries the education ratio is very low there, and they have also very limited resource of compute internet, their people cannot affort compute and internet that is why they do not have access to bitcoin to use it, i think it will still take some more time when they will have access to bitcoin.

The level of education in these countries may, in fact, be a factor that also prevents many users from knowing this technology and using cryptocurrencies. If these people had more knowledge about it, I think there would be much more adoption, even with the restrictions imposed by governments in those countries.

Hopefully, with the increasing number of people using the Internet around the globe, this may change, because easy access to information will make more and more people aware of it.

MMA

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Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

yes it can also be right that the backward countries may have lack of internet facilities and their people are not too much education therefore they can hardly use bitcoin. but to me i think every country has their own rules and regulation and they have to follow these rules and regulation. so may be they have banned the people to use bitcoin.

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Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

Maybe that is not the reason. Well i personally feel that the countries that does not support bitcoin are the ones which does not yet know much about it. Maybe the people living their just heard about it but never had a clear explanation about it so maybe that is why none of them tried to use it nor government did anything about that.

royalfestus

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Quote from: Botnake on January 18, 2017, 10:29:57 PM

Quote from: morgand on January 18, 2017, 09:56:54 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The reality shall be serve, when big countries accept bitcoin, small countries follow. It take time dude, also live in a small country and I notice there are no merchant or stores that accept bitcoin, I am sure they are aware but they are still waiting for the right timing since it's hard to compromise their business when bitcoin was not fully back by the government.

Why this? https://www.cryptocoinsnews.com/nigeria-warns-banks-bitcoin-ripple-monero-litecoin-dogecoin-onecoin/

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Quote from: morgand on January 18, 2017, 09:56:54 PM

Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The reality shall be serve, when big countries accept bitcoin, small countries follow. It take time dude, also live in a small country and I notice there are no merchant or stores that accept bitcoin, I am sure they are aware but they are still waiting for the right timing since it's hard to compromise their business when bitcoin was not fully back by the government.

morgand

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Quote from: royalfestus on January 18, 2017, 03:44:50 PM

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The_Dark_Knight

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Quote from: jseverson on January 17, 2017, 08:26:35 PM

Quote from: emezh10 on January 17, 2017, 12:51:22 AM

I think in some countries bitcoin is prohibited because of the government. Because government know that they can't collect tax in online transaction like bitcoin. But in some countries the government take advantage for it and make it to grow the economy for that country

They can collect taxes in bitcoin actually but the main reason is fiat still exist if they support bitcoins what do you think will happen in our fiat? Big effect right? There is a possibility fiat will vanished because bitcoin are offering small fees for every transactions.

Bitcoin is great but even bitcoin has limitations, for example if you use cash there are no transaction fees, using cash to pay can be very anonymous depending on the measures you take, so cash still has a place for some.

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