Why bitcoin is not supported in some countries? - page 17.

Ashong Salonga

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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 think because other counyries sees the value of bitcoin on how it helos people. Yet there are so many country still that doesn't support bitcoin which leads them to become no knowledge about it. Bitcoin was definitely a positive thing to many country although it also have mny disadvantages but the advantages are the most we see.

Ulail_cc

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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 think what the government of each country to ban bitcoin is the right thing to protect their currencies. because of the potential of bitcoin is very high it can make currency of each country be excluded

Clark05

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Other country like china will ban bitcoin or not supported bitcoin and maybe they have other reason or they don't want to relate their country of this kind of online business. But Im very happy to those country who are accepted and advertise bitcoin . We know bitcoin is risky but it depends to the people if they want to invest or not because we are matured and have own decision.

Galina12

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There are various reasons why some countries forbid the use of digital currencies, especially bitcoins.
The main reason is the fear of these countries will be the volatility and uncertainty of digital currency. In addition , another reason is the fear if the digital currency is used as financing of terrorism etc.

SHUNNO

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Most countries torment that bitcoin would be mainly used for illegal products following drugs and for maintenance laundering.They think that bitcoin usage would gate their currency usage.They apprehension of losing their revenues which they profit from taxes.In bangladesh,if anyone found using bitcoins, they would be jailed.But all measures taken, bitcoin cannot be sufficiently banned back its not attainable to ban internet.

mattprochazka

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Quote from: LeyAngelDevs on March 24, 2018, 01:47:14 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

in my perception, i think bitcoin is a threat for them, i dont know but maybe they dont want their people to grow

They're just the way too afraid for it because it's too volatility and fluctuation which shouldn't be encourage by the goverment, the goverments only support things that is constant and stable, which are not containing in the Bitcoin's dictionary.

wangwangdui

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Quite simply, it is impossible to abandon the currency issue rights, so Bitcoin has no place in the current social environment. He was previously obscured by nobody's control. Now it is a big fight. It is inevitable that central banks in various countries will suppress it.

LeyAngelDevs

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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 perception, i think bitcoin is a threat for them, i dont know but maybe they dont want their people to grow

smaneek101

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every country has different rules and some countries are using bitcoin .countries openly welcome to bitcoin then depends on people view on it Wink

Eleanorjean11

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It is probably because of business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy, consequently they're doing everything in which bitcoin can't enter to their country, maybe it is also a threat for them too.but bitcoin help us so much....

Joylee

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Countries which does not support or support less cryptocurrency is due to that uncontrollable and untraceable feature of bitcoin. The government wants under their purview and should come under their regulatory body and must be traceable.

prediction on bush

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Quote from: MadGamer on December 20, 2016, 09:29:10 AM

Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

I strongly agree on your opinion that, their countries, laws. And it really depends on your definition are not supported too. If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another. And adding also my opinion that, some countries even declare 6 months jail if her people use bitcoin, Is it fair? I mined few cryptos and have left mining. In addition, each country have their own policy maybe the government are concerned will many wiping the money or commonly known as money laundering and fair or not that's what we have to face because until now the existence of bitcoin is still not recognized. On the otherhand, Those countries fear that Bitcoin will make their economy to go down, Also several taxation problems have been their, as people prefer Bitcoin to escape taxes.

Eleanorjean11

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Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.so that bitcoin is not supported in some countries.

Nivir

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Quote from: Edu martin on March 23, 2018, 08:26:40 PM

evry country is diffrent they all have their own laws and ruls we should respect them and hope in future bitcoin will be the only currency in the world

Not all government laws are respectable knowing some of them have rigged system and are corrupt unlike decentralization where no one controls it. Hard to imagine seeing bitcoin as the only currency in the world if you are educated enough.

Edu martin

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evry country is diffrent they all have their own laws and ruls we should respect them and hope in future bitcoin will be the only currency in the world

Boknoyz

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The major reason about that is its legality and it's not yet full studied by the government. We can say that it's easy to leagalized bitcoin im country but it's not. It would take many years to fully reviewed its currency and it must have a law and agreement. This is something not easy to do that's why it's not supported in all countries.

Periodik

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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

Bitcoin is widely circulated around the globe. And it has given a lot of people much better lives. It has presented itself as a better option in terms of payment. But then again, the world is divided into independent countries and each country is free to make its own set of laws. To each his own. That is why in terms of how a particular country treats Bitcoin, it all depends on the specific country. Some may be friendly toward Bitcoin and some are not. No country can force another on how it is going to treat Bitcoin.

About mining, it is better if you raise this different topic in the mining section.

cliffdex

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The reason why bitcoin s not supported in some countries is because Government regulations frown at crypto currencies majorly especially bitcoin. Government support banks as the banks provide financial security to the government. Moreover, the government owns the public sector banks.
Banks will go out of business if they stop printing money and rely on Bitcoins. Nobody likes to reduce profit and suffer a loss consciously when they are running a business

janelleshepard

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Quote from: franzkie345 on March 23, 2018, 05:45:04 PM

Quote from: iqlimasyadiqa on December 20, 2016, 09:58:31 AM

each country has rules and laws, respectively. there is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.

Here in my country, It is still not legal but few people accepted bitcoin. Other countries will not support bitcoin because government thinks it will be a threat to them, threat to their economy.

Yeah , that's the problem with goverments. When people, their residents, already accepted Bitcoin but they do not want to adopt it at all.
Why? I think it's all about their benefits on controlling the economy.
I did remember few years ago, my goverment told us that Bitcoin is totally scam, a economy bubble 100%. LOL

franzkie345

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Quote from: iqlimasyadiqa on December 20, 2016, 09:58:31 AM

each country has rules and laws, respectively. there is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.

Here in my country, It is still not legal but few people accepted bitcoin. Other countries will not support bitcoin because government thinks it will be a threat to them, threat to their economy.

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