Why bitcoin is not supported in some countries? - page 150.

Sithara007

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Quote from: Mydarksaviour on January 02, 2017, 08:38:51 PM

well the bottomline there is that each country has its own rules, laws and regulations. if the decided to ban bitcoin due to some reasons them we can not do anything about it cause its their country, its their law.

Or we can just move to some other country, which is more tolerant to Bitcoin. A lot of bitcoin-related businesses are currently migrating from non-supportive countries to those which are more open.

GMPoison

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People fear what they do not understand. Give it time to catch on, give it time for people to understand it, trust it, use it, and there won't be anything any one government can do to stop it. That's the beauty of it, it's decentralized. If it ends up being what the people want, it's what the people will get.

boyptc

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Quote from: shinratensei_ on January 02, 2017, 08:14:29 PM

Quote from: boyptc on January 02, 2017, 09:18:14 AM

Quote from: Rishabh riyz on January 02, 2017, 09:10:32 AM

Because the government has no control over bitcoins and so tgey wont have any records of transactions

But the US government is trying to get some records of transactions from coinbase for taxation.
Reference: http://www.coinfox.info/news/6650-coinbase-obliged-to-disclose-users-data-to-us-tax-service
Those countries that are not accepting bitcoins are seeing a threat to their financial system.

Like your link, They will be accepting it if the exchange sites are can be showing the user's credentials for them, this make the privacy aspect in bitcoin has disturbed by the government. Although they need transparency about the exchange site and they can monitor it.

That is for taxation and coinbase can't do anything from it. That's why I stopped using coinbase, at first I stopped using it for reading some news about their security problem and hacked accounts and good thing that I stopped using them because the US government will have sometime to monitor the transactions as I don't wanted to be taxed, I can see that it will happen soon.

Mydarksaviour

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well the bottomline there is that each country has its own rules, laws and regulations. if the decided to ban bitcoin due to some reasons them we can not do anything about it cause its their country, its their law.

shinratensei_

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Quote from: boyptc on January 02, 2017, 09:18:14 AM

Quote from: Rishabh riyz on January 02, 2017, 09:10:32 AM

Because the government has no control over bitcoins and so tgey wont have any records of transactions

But the US government is trying to get some records of transactions from coinbase for taxation.
Reference: http://www.coinfox.info/news/6650-coinbase-obliged-to-disclose-users-data-to-us-tax-service
Those countries that are not accepting bitcoins are seeing a threat to their financial system.

Like your link, They will be accepting it if the exchange sites are can be showing the user's credentials for them, this make the privacy aspect in bitcoin has disturbed by the government. Although they need transparency about the exchange site and they can monitor it.

MinerHQ

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Quote from: dotajhay on January 02, 2017, 06:50:54 PM

Maybe because the government is corrupt and they don't want people to use bitcoins because it has no tax and but in other hand maybe the bitcoins used for buying drugs , killing people using deep web, in deep web the currency needed to buy is bitcoins only and the bank will become not popular so much because of bitcoins.

The government is not corrupt, but if they use this bitcoin maybe in future, the wicked people may increase more, so they are not accepting this Bitcoin as a legal currency. And yes from this bitcoin transaction they will not get any income. and now this bitcoin is using for more illegal transactions that are why all most all countries banned this bitcoin.

dotajhay

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Maybe because the government is corrupt and they don't want people to use bitcoins because it has no tax and but in other hand maybe the bitcoins used for buying drugs , killing people using deep web, in deep web the currency needed to buy is bitcoins only and the bank will become not popular so much because of bitcoins.

jak3

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i thought you already got the answer when mining the coins, you see when you mining the coin your processors are running and solving diffrent algorithms which is used to solve the network mathamatical problems ( break a block ) and also mining is a essential part because it verifies peoples transactions too.

rickadone

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Quote from: BeGoods on December 30, 2016, 07:23:37 PM

Quote from: d@nte on December 30, 2016, 05:21:41 PM

Because for many governments, Bitcoin is considered a threat to the local currency, and therefore, to the centralized model of power that the state imposes on people. The truth is that the more you fight against this kind of technology, the more people are interested in understanding what's behind it.

Yeah bitcoin has a huge potential for the use of all people in the world, certainly when the government adopted a bitcoin, certainly everyone in the country will more often use the bitcoin that easier
and of course it would threaten their currency

Yeah, bitcoin has the potential to become the best alternative for fiat, and if it becomes something that all the people use it will take down other currencies, some governments don’t actually support because they are afraid that their currencies will go down if they do, others just accept the fact that they can’t stop people from using it so they embrace it and start using it.

burner2014

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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 our country they don't disallow using bitcoin, but I think that other countries don't allow bitcoin because aside that maybe other people don't declare this as their income and because it can easily use this in illegal transaction that can be difficult to trace who transact it due to its privacy.

boyptc

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Quote from: Rishabh riyz on January 02, 2017, 09:10:32 AM

Because the government has no control over bitcoins and so tgey wont have any records of transactions

But the US government is trying to get some records of transactions from coinbase for taxation.
Reference: http://www.coinfox.info/news/6650-coinbase-obliged-to-disclose-users-data-to-us-tax-service
Those countries that are not accepting bitcoins are seeing a threat to their financial system.

Rishabh riyz

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Because the government has no control over bitcoins and so tgey wont have any records of transactions

TastyChillySauce00

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Quote from: OrangeII on January 01, 2017, 02:14:22 AM

Quote from: iqlimasyadiqa on December 31, 2016, 10:03:54 AM

Quote from: rababo on December 31, 2016, 09:57:31 AM

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.

yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.

yes, I agree with that opinion. bitcoin prices have stabilized, it may have been when the government bought bitcoin in significant amounts, and sudden price drops, I think it would have a negative effect on a country. the government may wait until the bitcoin prices stable, and then accept bitcoin.

The volatility of bitcoin is no more disadvantages because it's already resolved by using some sort of bitcoin payment API which could exchange directly the bitcoin that the senders were sent to the address given by the API. I think that government should not use bitcoin to save up their money in form of bitcoin but only accepting it as payment method in their instances to pay things such as taxes or anything else necessary or their citizens' obligation so, there will be no more problem regarding to its volatility characteristic of bitcoin

pinkpanther03

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As far as I know bitcoin is a threat maybe in some of the businesses in the community. And I think that's one of the reason why some country is not accepting the system of bitcoin has, without seeing the edge of bitcoin.

BeGoods

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Quote from: Hitomi on December 28, 2016, 12:15:41 AM

why in some countries prohibit the use bitcoin? what is wrong from the use bitcoin? I think there is nothing wrong, because every bitcoin users would be easy to use to support their daily life. for example: payment of electricity, toll payments, currency exchange, etc. I think the state should think back to the prohibition of the use of bitcoin. not whether it is better for our own communities.

the government will not see that help for the population or not. for bitcoin still can not be controlled or decentralized government certainly would not take the risk to legalize bitcoin, because it would be more harm than benefit obtained government

Bitcoinpro

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Quote from: OrangeII on January 01, 2017, 02:14:22 AM

Quote from: iqlimasyadiqa on December 31, 2016, 10:03:54 AM

Quote from: rababo on December 31, 2016, 09:57:31 AM

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.

yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.

yes, I agree with that opinion. bitcoin prices have stabilized, it may have been when the government bought bitcoin in significant amounts, and sudden price drops, I think it would have a negative effect on a country. the government may wait until the bitcoin prices stable, and then accept bitcoin.

1st world governments have incredibly strong IT protocols/filters and are not so threatened by Bitcoin

OrangeII

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Quote from: iqlimasyadiqa on December 31, 2016, 10:03:54 AM

Quote from: rababo on December 31, 2016, 09:57:31 AM

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.

yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.

yes, I agree with that opinion. bitcoin prices have stabilized, it may have been when the government bought bitcoin in significant amounts, and sudden price drops, I think it would have a negative effect on a country. the government may wait until the bitcoin prices stable, and then accept bitcoin.

Pattart

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Quote from: iqlimasyadiqa on December 31, 2016, 10:03:54 AM

Quote from: rababo on December 31, 2016, 09:57:31 AM

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.

yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.

besides chaos, bitcoin potential to be used by all communities in the country was also very high so it could make their country's currency is not used? it is feared by the government

chickenado

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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

Ofcourse they didnt support a thing that dont have profit for their country, and they didnt support this bitcoin because they aware that this coin is using in illegal transaction. They jail some bitcoin user in their country because they know only bad things about bitcoin. They dont know they can earn here in good ways.
Dont mine if you dont know how it works, if this is unclear. Study first about mining before mine so that you will not loose money, effort and time.

Pattberry

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Quote from: iqlimasyadiqa on December 31, 2016, 10:03:54 AM

Quote from: rababo on December 31, 2016, 09:57:31 AM

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.

yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.

The government will be frightened to see bitcoin as they thing it would destroy the economy and bitcoin will be used as a parallel economy which would hurt any government organization but with changing times they have to come up with new innovative technologies and options for the people and that is not an easy task so they tend to ignore bitcoin as a whole which would later hurt their revenue at a later stage in the form of tax that could be collected from it. Cheesy

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