Topic: Why bitcoin is not supported in some countries? - page 32. (Read 98470 times)
Bitcoin is anonymous government will not allow bitcoin to be a digital currency basically if they do that they are allowing illegal transantions in there country ofcourse they will not allow a currency that cost a lot of dollars we cannot afford such a high amount. There are still many people who do not know what it was Bitcoin probably why it's one of a few countries are still not willing to trade or as a means of buying and selling Bitcoin in the real world. Many people now have been using cryptocurrency and government fear that this currency would replace their currency
The same reason why they don't allow anything else to happen in their country without their knowing of it and that is to keep the oppression going. If they allow any ounce of power or freedom, that oppressive state they have going on has a potential of collapsing which they will have zero part of. Hence why anything that resembles freedom, hope, or power they will squash in an instance.
I don't think any country declared using bitcoins illegal that you can be jailed bitcoin is annonimous and decentralized so how can the government trace the bitcoin users? Banning the use of bitcoin is possible, people cannot participate in ICO's and no businesses on the country will accept bitcoin, but it cannot completely prevent people from using bitcoin.
I think the lack of clarity on the side of politicians who rule these countries makes it difficult to allow bitcoin trading freely in these countries. I think, bitcoin is just a simple digital product (may be like Picasso painting)? If govt allows paintings, gold, diamonds as another form of payments, why not bitcoin? If you can sell Picasso painting for $120M, whats wrong in sale of another form of art (digital products like bitcoin)? It should be left up to the person who is buying this Picasso painting to decide if he is getting his money's worth or not. Whose is the govt to take decision on behalf of an individual? Are we still living in stone ages, where the tribe's headman decided whether you go out of your cave or not?
some countries are afraid of inflation in the economy they have now because of the inclusion of bitcoin in the country. for me this bitcoin is like cheating real money and potentially replacing real money if bitcoin is used in the country for every transaction
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
The reason why bitcoins are being banned on some other countries is because it is affecting the other companies on a negative way like banks and they are just creating a way to reduce the popularity of cryptocurrency like creating propaganda to deminish the amount of investors.
it is easy that politics dominates finance and government in a country so the lack of government trust in a digital money because it does not have enough regulation to determine the exchange rate is different from the paper money that can be manipulated and regulated by the government and determine the choices taken
each country has its own rules and laws, respectively. there is in view, that of course very important. there are some countries that do not use bitcoin, and some countries use bitcoin. it is the right of every state.
In the formation and development of bitcoin. The issue of the legitimacy of government organizations has always been a rock that really blocks the pace of bitcoin and cryptocurrency. That is the real challenge of bitcoin on the path of development in the future.
The simple answer to that question is Taxes. If they supported Bitcoin than there will be less transparency in what a business is really earning which means they can avoid taxes. The government is trying to avoid that situation because Income Tax is the main source of our national budget.
There are several reasons, however most stem from the fact that BTC is unregulated and can cause major problems for the institutions of a nation. One of the biggest issues is that it is a way for the populus to avoid paying taxes on income. Although noone likes paying taxes, the fact is that these taxes lead to a more developed society and pushes civilisation forward. Yes there is tons of waste and corruption, however for a developing nation, not receiving enough tax revenue can be disastrous in terms of progress.
There are good arguments for both sides and i think in the end BTC will be regulated in some shape or form to answer some of these difficult questions.
There are good arguments for both sides and i think in the end BTC will be regulated in some shape or form to answer some of these difficult questions.
its normal as BTC were made some years go so some gov. dont know what to do with it and how so ,they start to deny it or say not good about and etc. its normal with time all will understand we cant walk without technologies like that .
Due to a high technique nowadays, some countries do not support bitcoin only because they think it is a BIG SCAM. Our generation today we have a knowledgeable people that could start or make their way into the so called BUSINESS but it is only a business reversible to the true meaning of business which only aim to gain profit and money at all cost without hesitation to the rules and laws of their countries as long as they are capable of hiding the reality of their intentions.
Bitcoin is also used for money laundering and tax evasion.. So goverment of some countries won't support Bitcoin as invest chanel. 
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 not supported in some country because they don't believe in btc they think that it's a waste of money and time that is why they don't support it and they think that it cannot be convertible to cash but all they think about btc is not true because for me btc is a good investment and you can earn big from it.
The People's Bank of China considers Bitcoin to be a virtual commodity, not a currency, and its sale may be subject to VAT.
In Japan, Bitcoin is recognized as an asset-like values asset. Its sales are taxed by the Japanese analogue of VAT.
In Japan, Bitcoin is recognized as an asset-like values asset. Its sales are taxed by the Japanese analogue of VAT.
In Israel, Bitcoin does not fall under the legal definition of currency, either as a financial security or as a taxable asset. Every time Bitcoin is sold, the seller must pay a capital gains tax.
For me I think since some area bolt of data about bitcoin. what's more, did not comprehend what sort of business is bitcoin. Furthermore, some of nation thinking bitcoin is a danger in there government.
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 not supported in some country because they don't believe in btc they think that it's a waste of money and time that is why they don't support it and they think that it cannot be convertible to cash but all they think about btc is not true because for me btc is a good investment and you can earn big from it.
some countries have restrictions on BTC circulation because the government does not want to take risks
BTC holders are at risk of rapidly shrinking assets, which can lead to very rapid poverty if the person does not have a strong hand
BTC holders are at risk of rapidly shrinking assets, which can lead to very rapid poverty if the person does not have a strong hand
Different countries have different rules and levels of openness to new stuff especially one that involves the monetary and banking systems. I think the primary reason why countries are hard on accepting bitcoin has something to do with its features such as decentralization and anonymity.
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