Why bitcoin is not supported in some countries? - page 19.

Gondwanaland

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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

there are countries not support the bitcoin maybe because there's some rules that violated in their law. There are some feautires in bitcoin that is not acceptable of what the countries believe to. Or let we say that they believe that the cryptocurrencies is illegal in their country and they did not accept that kind of money and beliefs.

cokkapaga

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Quote from: Bitcoinnumberone on March 20, 2018, 06:35:31 AM

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 .

Other countries banned cryptocurrencies because theu fear that this currency might be used for illegal transactions and purposes. They do not want this currencies to be used against the government.

the main reason they are banned of cryptocurrencies is illegal transaction or money laundry
so they are scare that bitcoin will be great in the future and will be the best of payment in the world.

Eros1on

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In China, for example, the BTC is seen as a scam, using the blockchain technology to create a scam. The government has been cracking down on the BTC.

marjoree

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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

One of the reasons why some other countries don't support bitcoin or any other crypto currencies is the fear of ignorance of fiat because they think that it will be the cause of falling of their economy, but the economists of India realized and said that the bitcoin's economy has nothing to do with the economy of a certain country.

Bitcoinnumberone

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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 .

Other countries banned cryptocurrencies because theu fear that this currency might be used for illegal transactions and purposes. They do not want this currencies to be used against the government.

Jdragon6x6

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Quote from: tats14 on March 19, 2018, 10:05:44 PM

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

Well for my own opinion, bitcoin is a digital currency that you can able to use in some stores or etc. But not all countries accept bitcoin as a currency and it is not easy at all.

Yes, actually, with the rapidly depreciating as it is likely that the use of digital currencies such as bitcoin will be banned in some countries. Because they think bitcoin is a big threat to their government and their economy, and also some countries consider cryptocurrencies to be legal tender and will try to phase out payments using coins such as bitcoin.

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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

Different countries has a different rules. On my opinion, bitcoin is risky from other countries, becasue their are situations that it is using for terrorism, for crimes and things that will give a problem to a certain country. Banning of bitcoin is also what i read and heard from some people here in bitcoin if you read some of the comments of other users here in bitcoin forum you will find the answer of your question, I just give you a little idea and I hope it helps you.

xuv500

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Bitcoin is not supported by few countries because they don't want people to get profit without their intervention and without their tax in it, the other reason is banks force countries to ban or not support Bitcoin since banks will be lost if Bitcoin comes into existence. Misleading news and misleading people in countries also not supporting Bitcoin.

sgenuine

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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

Most of all cryptocurrencies are used in countries with a troubled financial system. In such countries it is more convenient for people to use a blockchain to transfer money inside the country and around the world.

vanjava

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Because bitcoin is widely misused by corruptors who can be used for investment and to eliminate traces. Therefore, in some countries is prohibited and very detrimental to state finances.

dsaijz03

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You mean banned? In our country bitcoin is not supported but it is not ban so I can still participate in any bitcoin activities not like in other country they cannot participate (e.g. Signature) we do notcexactly know the reason, what matter most is to continue supporting bitcoin.

xk85jq

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for me, some country not support bitcoin because the leaders was controlled the economy of his country not the government itself if they accepted bitcoin by not regulate by that cuntry maybe we little effect w the country interm of economy balance. so we need a regulatory body to regulate a law interm of taxation in every country .are you allow bitcoin have taxation?

Birdiebig

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The journey brings a technological revolution to break the barriers from the old rules. bitcoin has many doubts about the performance and purpose of its creator. The government is responsible if they support bitcoin for their people. Therefore, there is a reason for them to consider and limit the influence of bitcoin by the rules from centralized management. Bitcoins can affect the economy and trade of some countries.
https://coinreport.net/coin-101/accepting-bitcoin/

joshua05

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In different countries, they have different perceptions on which they view their own basis and calculations. The fact that, they haven't really accepted and supporting bitcoin because of security issues are the ones that are holding them back in having bitcoin. In some countries they are gravitated with negative and closed minds which thinks that maybe, bitcoin and the other cryptocurrencies are a criminal tool. However, we must look on to the brighter side on which bitcoin is gladly accepted by other countries which are really open minded on how bitcoin and this new era of currency made a great mark in this banking industry.

mix max

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Because it is not an easy job to legalise and make a policy for bitcoin. A government will be very hard in controlling bitcoin because the bitcoin cannot be controlled.

Markpet01

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Why bitcoin is not supported in some countries because it's risky and it doesn't have taxes that why they do not support the bitcoin.

quymn9

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Because bitcoin's decentralization makes it difficult to control the bitcoin market, and bitcoin is still developing, it is difficult for the state to formulate relevant policies, so all major countries are afraid to introduce Bitcoin at will.

Kunle1christ2

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I think many of these countries have not really gotten what bitcoin really is and the good use it can be put to.The fear of the sudden rise n popularity of it is especially being feared by government in my country. They feared the sudden wealth with which its bringing. Shocked

aoebtc01

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Personally, I think we are not that far away from the day goverment will accept Bitcoin as one of assets which is use popular in the world.
Nowaday, more people touch and understand information of Bitcoin, they use it to earn money and hard to leave it... or other way to mean that goverment can't stop it, just accept it only...

fortuneteller

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I think its for the reason that some countries treat BTC as a threat to their national security or something that could ruin their economy. as we all know no bank has the control on digital currencies, BTC have been rapidly accepted by people and market. Digital currencies made some business transactions at ease to complete, payments can happen anywhere with anyone. come to think of it, if bad people uses it for unlawful activities such as drug trafficking or money laundering or fraud, this would cause chaos. on the other side BTC is a signature of a growing economy and an easier profitable life. yet it all depends on how a country look at it. as long as it is used for the betterment of the people its fine.

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