Topic: Why bitcoin is not supported in some countries? - page 18. (Read 98470 times)
I just found out that declaring bitcoin will get a prison sentence, in my country there is no such regulation until now, it means my country can still use bitcoin as a tool of paying even though not all cities apply it
Perhaps the main reason for bitcoin has not been widely recognized by a country is its inaccessibility and desecralization. No one country can control bitcoin even big country like china and US. They just focus on their respective currencies and do not care about the others even they want to destroy other currencies and dominate the world
I guess it affects there economy. They ban it some countries and they are thinking they might use this as a financial purpose of terrorism . And also other think and can hold with a tax.
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..
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..
I guess they dont support bitcoin since it may be use for illegal activities. And one important thing also is that they dont have yet enough knowlwdge what bitcoin really is.
I think the world needs more time to understand this technology and it will take a decade from now for bitcoin to reach in every part of the world. There are billions of people who don't heard of bitcoin yet and thus bitcoin is not supported in some countries because not many people use bitcoin in those countries.
Because many countries are afraid of bitcoin that their country currency maybe replaced bu crypto currencies so they are banning it,but the countries who banned bitcoin is very less like 5 or 6 countries but in other countries you have to pay taxes of you want to use it.
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
Yes, there are still many countries around the world that ban bitcoin. I think this is every country has its own laws and policies, as they think the currency does not benefit their country, they will not accept the COINS, they think the currency will affect the national economy 
Some countries don't want to accept bitcoin and they ban it because bitcoin can not be obliged to pay taxes to the state
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
Bitcoins will be only available if the government in your country is legalizing cryptocurrency, governments today does not really have a very clear reason on why they are banning bitcoins or maybe they are just envy about other people who are earning a huge amount of wealth from cryptocurrency.
It is sad to think that some countries are not welcoming bitcoins. I think the reason behind is because of they believe that bitcoin is a good source of income and afraid to deal with them.
- Bitcoin may pose financial risk to its holders
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.
In short, Bitcoin holds a big risk to investors because of its volatility. Bitcoin can also be used as a tool for money laundering due to it's anonymity to our transactions and it is really hard to trace it
Decentralization and can't control are two of many reasons did bitcoin is not supported in some countries. Nowadays, Bitcoin called "Gold digital coin" and it increased 1,200% in 2017 and many people are investing in Bitcoin. While Government of some country considered that Bitcoin is the biggest financial bubble in history, they afraid this bubble will soon burst and many investors will be lost their money so they ban Bitcoin to protect their people. Moreover, anonymity of Bitcoin did Government of some country afraid Bitcoin will be used to money launder or use in illegal perform.
because countries can't control the crypt because of this lose money in the form of taxation that's starting to limit or come up with new tax fees
I think they don't want to adopt on new technologies or maybe they don't want to be manipulated by bitcoin. Both of these are the reasons why countries does not support bitcoin as a whole.
My idea is that maybe their government is trying to monopolize the access of bitcoin in their country by their authorities. It is common to people that if there is a source of wealth they will try to keep them for themselves. This is just an opinion though, but I think it is really possible.
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 its not just bitcoins, its the entire cryptocurrency who are banned in other countries, people can complain about this if they only knew how much money they can really make on investing in cryptocurrency and i hope that every country in the future will have the same idea just like japan's plan for their country.
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
There are many reasons why bitcoin is not accepted by some countries. Bitcoin, for example, is used by some criminals as a way of dealing with crime. Some officials have used bitcoin to transfer money, so some countries have banned it. 
Because it may drain the power and influence of governments in those countries.
The only hope is that more and more people will continue to use it, and make enough pressure to prevent governments from declaring its use prohibitive.
The only hope is that more and more people will continue to use it, and make enough pressure to prevent governments from declaring its use prohibitive.
- Bitcoin may pose financial risk to its holders
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.
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