Why bitcoin is not supported in some countries? - page 44.

Zabrielle

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Quote from: mx667 on February 01, 2018, 06:22:12 PM

Quote from: Zabrielle on February 01, 2018, 05:34:48 PM

I guess every country has its government or policy rules to follow. Its not that they dont support bitcoin there are maybe a state rules thats why bitcoin cannot just penentrate in a certain country. Maybe they are strict due to terrorist attack. Bitcoin is decentralized, knowing that they cant trace the orwner of transaction and whats the transactions is all about. Every country is just being carefull for the safety og their fellow countrymen. It is not profitable for those countries if they baned bitcoin. Every country want to recive taxes from citizens and also have information about money transactions.

Some people say if the state wants Bitcoin control. Some say that the state wants to take advantage of Bitcoin. Some others will say that the state considers Bitcoin as something illegal and can create a crime. That can happen because Bitcoin can be used to transact in the black market and can be used for money laundering. That's because we all know that Bitcoin transactions are not limited by anything. We can transfer anytime and anywhere with any amount. We can also transfer as much as possible with Bitcoin. We can be a bank for ourselves and therefore, we can be free from government and banks. Maybe that's why the country does not like it.

Yes. There are a lot speculations about why bitcoin is being ban in different countries. But for sure this for the good of the people. The very important thing is that they want the safety of the people in their countries.

crisasimo10

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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

The non-support for Bitcoin in some other countries because of non-familiarity of it's financial operation. Bitcoin users did not pay taxes directly to the government. This non-payment of revenues directly to the government depleted the national treasury. Bitcoin is not clear to many people, they think Bitcoin is another for of seam like what happened in Bangladesh.

chikading2016

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Quote from: ApocalypseNow on February 05, 2018, 09:02:21 PM

Typical reasons are they are underdeveloped countries or they clearly don't know what it is. Bitcoin needs internet and a device to make a transaction and I've notice that those countries, most of their citizens can't afford those things.

I agree regarding with that. As we all know bitcoin used internet connection to enter in websites, maybe that is one of the reason why some countries not supported bitcoin. Or maybe they dont know all about it or not knowledgeable enough to accept bitcoin to be part on their country.

rancidgash

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Quote from: Nivir on February 06, 2018, 03:17:48 AM

Because this countries do not want anything to enter into their space they cannot control. Many governments are also under pressure by centralized banks who actually controls the world. But they cannot stop the future which is blockchain and other tech crypto offers.

It's clear that Bitcoin would be a part of the government financial regulation one day, but should almost never become a legit currency alongside Yuan in China. According to the current regulations, it's more likely for China to invent their own cryptocurrency based on the blockchain technology.

DrYe5

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Quote from: Herjuna on February 06, 2018, 03:39:43 AM

For current bitcoins can not perceived by society and the State. It is indeed reasonable because bitcoins can not be controlled by the State, and State rules is still unclear, so the presence of bitcoins is still regarded as a threat than as a useful thing.

Maybe it's because most people on other countries consider bitcoin as scam and they think that bitcoin is all about any other illegal activities. But governments have their own reason.

Herjuna

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For current bitcoins can not perceived by society and the State. It is indeed reasonable because bitcoins can not be controlled by the State, and State rules is still unclear, so the presence of bitcoins is still regarded as a threat than as a useful thing.

Nivir

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Because this countries do not want anything to enter into their space they cannot control. Many governments are also under pressure by centralized banks who actually controls the world. But they cannot stop the future which is blockchain and other tech crypto offers.

ApocalypseNow

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Typical reasons are they are underdeveloped countries or they clearly don't know what it is. Bitcoin needs internet and a device to make a transaction and I've notice that those countries, most of their citizens can't afford those things.

sunita01

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Some countries do not have digital environments available, so bitcoin is not supported. In some countries people do not make the statement of earnings available to their government, stealing taxes, thereby causing loss to the government, one reason for not supporting bitcoin can also be.

Coffee_Lover

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Soycoin is the future "stablecoin"

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

It is because it's their law. All countries have their laws that need to be strictly followed. Some government may be afraid of cryptocurrency because they cannot control it. Like in Bangladesh or in Russia, they are cautious since gold purchases in their country is frowned upon. Uncontrolled currency may bring their own money down, that may lead to decreased in countries net worth. Laws are laws.

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baydewant96

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I think a country must have a consideration to decide what is best for the country to advance their economic factors. Behind it does not support bitcoin in my country, Indonesia ... the government is still thinking about the impact of what happens when legalizing bitcoin for transactions in Indonesia. The government takes into account more positive or negative things, The reason the government has not legalized because they think when bitcoin is crypto currency whose transactions can not be traced, this can make criminal acts hard to trace. Then bitcoin can be used as a money laundering tool by the perpetrators of corruption, and many other negative reasons ... But the countries that have legalized bitcoin, their economies grow better so that people's kesehjateraan very good, hopefully the Indonesian government can immediately legalize bitcoin to boost the country's economy and the welfare of its people

JesusCryptos

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Bitcoin is not really supported anyway but Bielorussia. Yes, Bielorussia has recently announced that it will encourage Bitcoin related companies to settle in Bielorussia, and that it recognizes Bitcoin.

viarathel

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Bitcoin is financially well-known to its users, but not all countries can accept bitcoin development, including in my own country, and in every country have different policies, and I think bitcoin is worried about making the state money down and also the state can not guarantee if things go wrong

mx667

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Quote from: Zabrielle on February 01, 2018, 05:34:48 PM

I guess every country has its government or policy rules to follow. Its not that they dont support bitcoin there are maybe a state rules thats why bitcoin cannot just penentrate in a certain country. Maybe they are strict due to terrorist attack. Bitcoin is decentralized, knowing that they cant trace the orwner of transaction and whats the transactions is all about. Every country is just being carefull for the safety og their fellow countrymen. It is not profitable for those countries if they baned bitcoin. Every country want to recive taxes from citizens and also have information about money transactions.

Some people say if the state wants Bitcoin control. Some say that the state wants to take advantage of Bitcoin. Some others will say that the state considers Bitcoin as something illegal and can create a crime. That can happen because Bitcoin can be used to transact in the black market and can be used for money laundering. That's because we all know that Bitcoin transactions are not limited by anything. We can transfer anytime and anywhere with any amount. We can also transfer as much as possible with Bitcoin. We can be a bank for ourselves and therefore, we can be free from government and banks. Maybe that's why the country does not like it.

Rozita

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Quote from: haroldforgan on February 01, 2018, 05:53:57 PM

Bitcoin is not supported by goverment in several countries Cool

because they want to control the money and Bitcoin can not be controled because it is decentralized
and business that's the number one reason why other nations is not supporting bitcoin, Roll Eyes

They think bitcoin can affect their business economy

Better not to say several countries. Better to say all the countries. I don't think there is any government want people to make transactions that cannot be tracked. Even if a government have not ban bitcoin till now for sure the government want to ban it or regulate it.

haroldforgan

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Bitcoin is not supported by goverment in several countries Cool

because they want to control the money and Bitcoin can not be controled because it is decentralized
and business that's the number one reason why other nations is not supporting bitcoin, Roll Eyes

They think bitcoin can affect their business economy

Zabrielle

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I guess every country has its government or policy rules to follow. Its not that they dont support bitcoin there are maybe a state rules thats why bitcoin cannot just penentrate in a certain country. Maybe they are strict due to terrorist attack. Bitcoin is decentralized, knowing that they cant trace the orwner of transaction and whats the transactions is all about. Every country is just being carefull for the safety og their fellow countrymen.

CryptoPsycho

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It is not profitable for those countries if they baned bitcoin. Every country want to recive taxes from citizens and also have information about money transactions.

weblouartisan

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Lets Go Adab

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 supported and can be circulated on different country but the only problem is, some of the governments are hindering it to happen. Most of the governments are corrupted and they are afraid for their people to become wealthy and no one will work on the corporate world while some of the banks are also being affected because most of the consumers are turning to cryptocurrency rather than placing their money on banks.

NoNetwork

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Quote from: shasimiky on January 31, 2018, 04:01:44 AM

There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls . ICOs were a threat to the financial markets’ stability. that is reason which some country ban bitcoin

Well, in the past it has been used in the deep web, as its currency. Not to mention all of it is illegal. But since the currency that day is not as significant as now, we may have done the same. About the terrorists? I highly doubt that. True, because of the cryptos being volatile and decentralized, countries might either ban it or adapt it (most of those countries banned it).

Quote from: syntac on January 31, 2018, 03:05:10 AM

There are some countries that currently do not accept bitcoins. Perhaps the reason is that using bitcoin is too risky because of frequent fluctuations, bitcoin is also feared will be abused by residents of the country. But I think it's too naive to resist bitcoin, because in my opinion bitcoin brings more profit than loss.

The reason behind this frequent fluctuations is because of its volatility, as we know all the cryptos have this characteristic. We might think that this is a disadvantage but no, its the opposite, especially for Bitcoin.

Quote from: AmericanBit on January 31, 2018, 03:09:13 AM

We discussed this issue in different topics the summery is that some countries are not able to support crypto, there economic is not ready for this.

Its not that they're not ready for this, just because of the economic state, its because the country wouldn't be able to gain profit from this as it is a decentralized currency after all.

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