Topic: Why bitcoin is not supported in some countries? - page 35. (Read 98470 times)
Many countries are afraid of bitcoin, this is because bitcoin can not be controlled so it can be used for speculators to play price, this is what makes many countries not supported bitcoin.
Perhaps in some countries hindered by economic and financial regulations, laws, and some other policies. Then people in the country still do not really understand about bitcoin.
Other countries are not supported bitcoin and they have a law that when you're caught or saw using bitcoin they put in jail in 6 months and other countries government are banned bitcoin and some reason why other countries not supported bitcoin is because sometime they used it a tool or a way to do a criminal such as money laundering, drug trafficking, tax evasion, illegal payments, and also it is free from the taxes that's why many countries are not allowed using bitcoin.
I do agree on your statement , most of the governments has different laws on their country and they need to obey it, it was a very good idea if they will allow cryptocurrency because it helps people to get out of poverty.
every country should have a different provision on bitcoin there support it there are also banned.
obviously a bitcoin can be traded worldwide and fast transaction processing not through intermediaries, it is one of the advantages of the bitcoin.
obviously a bitcoin can be traded worldwide and fast transaction processing not through intermediaries, it is one of the advantages of the bitcoin.
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 in the world who do not accept bitcoin. in other words they are being banned. Because other countries think it is bad and it's a bad thing. And there are others who think that their income is from bad things. Bitcoin is overwhelming but gradually agrees and accepts bitcoin as a debit. Available to compensate for expenses. It is necessary to fully explain the purpose or value of bitcoin. Hope it can also be used in other countries to greatly expand the bitcoin range.
Other countries are not supported bitcoin and they have a law that when you're caught or saw using bitcoin they put in jail in 6 months and other countries government are banned bitcoin and some reason why other countries not supported bitcoin is because sometime they used it a tool or a way to do a criminal such as money laundering, drug trafficking, tax evasion, illegal payments, and also it is free from the taxes that's why many countries are not allowed using bitcoin.
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
It's because other countries misunderstood the ways of cryptocurrency and they are uncertain about its processes and its beyond control,there are also some possibilities where they believe bitcoin can be use as a method for illegal transactions used by criminal individuals or organizations and its pretty much difficult to trace since its basically done electronically.
To be honest, im also currently new to this and its also unclear for me how this works. I just hope that some countries will have a better understanding in the future about bitcoin so that they wont have to withdraw their support on this.
Maybe because they dont want that bitcoin will take over in there country because it can change the way they live
Many countries are worried that the presence of bitcoin will change the financial system, people will leave the legal currency and switch to bitcoin so as to make the use of fiat continues to decline so that disrupt the economy, this is the main reason why bitcoin is not supported in some countries.
Because they think that it will destroy their banker's arrangements. They know well that they are in danger.
my opinion that countries that do not want to be open-minded about innovation is a country that can not predict the future. I think Bitcoin is really going to unlock its potential when used everywhere. They are afraid of those who abuse it but can not be misused in some cases, how they spend it.
Bitcoin is not supported by government in several countries because they want to control the money and Bitcoin can not be controlled because it is decentralized.
Most of the big central banks are also against bitcoin all in fear because they know it can surpass centralised systems one day.
Most of the big central banks are also against bitcoin all in fear because they know it can surpass centralised systems one day.
In the beginning it was a problem that some countries were against Bitcoin but now I think every country have people who are using Bitcoin without any problem .Countries can not recognize and open up an uncontrollable trading platform, will undermine the interests of the state.
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.
Most major countries in the world also adopt a cold attitude towards bitcoin.What government actually don't like about bitcoin is that they can't have full control over bitcoin transaction or better to say they can't take tax on bitcoin transactions. Government love tax so they don't love bitcoin.
Each country certainly has its own legal rules, and some of them do not support the existence of bitcoin. I see this is due to the volatile nature of bitcoin and the lack of awareness among the people, especially because of the decentralization of property. It may be that some countries do not support the existence of bitcoin.
because crypto currency is affecting the economy of the countries
there are lot of reason due to which some countries are not supporting BITCOIN,SOME of them are here:
1.Anonymity,So this can be used in illegal work,
2.Country is not fully ready for cyber attack,
3.Gov. central bank does not want to loose their control from currency,
1.Anonymity,So this can be used in illegal work,
2.Country is not fully ready for cyber attack,
3.Gov. central bank does not want to loose their control from currency,
The reason why Bitcoin is not supported in some countries is because of the country's laws and the regulatory authorities. So many countries are silent about 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 the electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. The whole thing is still pretty unclear to me
Bitcoin is not supported in some countries because the Government of the country does not want it if people prefer Bitcoin over the currency of the country. Moreover, Bitcoin is nothing to manage and its fluctuating price is very risky for its users. The government is only worried if the people suffered huge losses due to using Bitcoin. Jump to: